Mumbai: After a volatile session, the market ended on a weak note. The Sensex ended down 101.33 points at 21032.88, and the Nifty closed at 6241.85, down 30.90 points.
About 1197 shares have advanced, 1457 shares declined, and 295 shares are unchanged. Pharma stocks Cipla, Dr Reddy's Labs were top gainers in the Sensex, followed by Infosys, HDFC and Reliance. Tata Steel, Sesa Sterlite, TCS, ICICI Bank and Wipro were major losers.
Shares of CMC plunged 11 percent after reporting flat revenues in the quarter ended December 2013. Consolidated net sales were flat at Rs 561 crore as against Rs 560.7 crore quarter-on-quarter due to less growth in systems integration business that contributes 64 percent to total revenues.
"We have had a flat revenue growth quarter-on-quarter growth but that was in line with what we had also anticipated because the third quarter is always traditionally weak in terms of international growth given the furloughs and the holidays," R Ramanan, CMD told CNBC-TV18.
Revenues from systems integration business, which grew 24 percent in earlier quarter, dropped 1 percent sequentially to Rs 358 crore and IT enabled services business declined 13.6 percent Q-o-Q to Rs 72.5 crore (that rose 15 percent in Q2).
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