Sensex, Nifty down nearly 1%; Tata Motors touches 15-month low

Key Highlights: 

• Sensex, Nifty to six-week low
• Tata Motors at 15-month low
• Rupee trades at  64.196 against dollar

Indian market opened in negative for fifth consecutive day with Nifty 50 trading below 9,800-mark.

At 0920 hours, Sensex gave away over 300 points or 0.95% trading at 31,230.90, while Nifty 50 trading at 9,726.10 down by 95 points or 0.96%. 

With this opening, both Sensex and Nifty touched their six-week lows. 

Motilal Oswal said, “Domestic markets continued to correct with midcaps taking a particular beating. High beta stocks have corrected sharply. IT sector held up in a otherwise weak market. 

"Geopolitical issues, result reactions and unwinding of positions have impacted markets. High quality names have held up yet but they could join the correction soon as overall global markets are also giving way," they said. 

Majority of the stocks were either trading in flat or negative. Among gainers on NSE were Tech Mahindra (Rs 408.30 per piece), Power Grid (Rs 219.35 per piece), Wipro (Rs 289.90 per piece) and HCL Technologies (Rs 884.90 per piece) trading positive in the range of 0.20% - 1%. 

Tata Motors touched another 52-week low of Rs 358.50 per piece on Friday post its quarter ended June 30, 2017 financial announcement. On NSE, the stock was trading at Rs 365.15 per piece down Rs 15.05 ir 3.96%. 

In this week so far, Tata Motors have tumbled by nearly 18%  and is now trading at 15-month low. 

Indian rupee was trading at 64.196, up 0.030 paise or 0.05% against the US dollar.