The 30-share BSE Sensex was down 127.57 points at 28051.51 and the 50-share NSE Nifty fell 34.65 points to 8674.30. The broader markets too remained under pressure on weak breadth. About 1169 shares declined against 862 advancing shares on the BSE.
HDFC, HDFC Bank, HUL, Bharti Airtel, NTPC and GAIL were down more than 1 percent whereas ICICI Bank, Axis Bank, Sun Pharma and Maruti were gainers in morning.
Tata Group stocks remained under pressure after Tata Sons sacked Cyrus Mistry as chairman on Monday. Tata Steel, TCS and Tata Motors were down 1-2 percent.
Bharti Airtel, the country's largest telecom operator in terms of subscribers, is expected to report a 28 percent degrowth in July-September quarter profit at Rs 1,050 crore QoQ on forex loss due to Naira devaluation & interest expenses.
Revenue is seen falling 0.2 percent quarter-on-quarter to Rs 25,495 crore in Q2. It is traditionally a weak quarter for telecom companies. Hence, analysts say India Volumes may decline due to seasonality, though some pricing pressure may offset the volume decline.
HDFC, HDFC Bank, HUL, Bharti Airtel, NTPC and GAIL were down more than 1 percent whereas ICICI Bank, Axis Bank, Sun Pharma and Maruti were gainers in morning.
Tata Group stocks remained under pressure after Tata Sons sacked Cyrus Mistry as chairman on Monday. Tata Steel, TCS and Tata Motors were down 1-2 percent.
Bharti Airtel, the country's largest telecom operator in terms of subscribers, is expected to report a 28 percent degrowth in July-September quarter profit at Rs 1,050 crore QoQ on forex loss due to Naira devaluation & interest expenses.
Revenue is seen falling 0.2 percent quarter-on-quarter to Rs 25,495 crore in Q2. It is traditionally a weak quarter for telecom companies. Hence, analysts say India Volumes may decline due to seasonality, though some pricing pressure may offset the volume decline.
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