Nifty, Sensex in correction mode, ITC plunges 15 per cent intra-day

Indian benchmark indices Nifty and Sensex traded with negative sentiments in Tuesday’s session. Nifty ended at 9,827 level, down by over 88 points, whereas Sensex ended at 31,711 level, down by 363 points.  
 
However, 47 stocks hit their 52-week highs during trading session, while 19 stocks touched their 52-week lows on the NSE.
 
BSE Mid-cap index ended lower by 0.60 per cent at 15106.85. BSE Small-cap index ended at 15817.60, down by 0.58 per cent. India VIX ended at 11.49 level, up by 0.28 per cent.
 
ITC was the top loser in Nifty, amply contributing to the losses of Nifty and Sensex in Tuesday’s trading session. The stock touched its intra-day low of Rs 276.4, a decline of Rs 48 or 15 per cent, recording its biggest intra-day plunge in the last five years. The stock ended at Rs 284.6, down by 12.63 per cent.
 
As an impact of increased cess on cigarettes by 10 per cent, the cigarette stocks witnessed substantial losses in Tuesday’s trade. Godfrey Phillips fell by 5.69 per cent to Rs 1,157.6, VST Industries was down by 7.83 per cent at Rs 3,281.8.
 
Domino’s Pizza operator Jubilant Foodworks Limited hit its fresh 52-week high on 25 per cent increase in its profits for Q1FY18. The stock closed at Rs 1,326.15, up 4.05 per cent.
 
Further, Bank Nifty touched its all-time high level of 24,022, up by 7 points, with Punjab National Bank as the top gainer in the index. PNB closed at Rs 155.8, up by 1.9 per cent.
 
Cement stocks gained during the trading session. ACC Ltd hit its lifetime intra-day high of Rs 1,809 on a 32.5 per cent rise in its net profit for Q1FY18 but pared its gains towards the end of the day to close at Rs 1759,80, up by 0.49 per cent. Ultratech Cement was also high during the trading session on decent financial results. 
 
Nifty IT index gained the most among sectoral indices on the NSE. The index closed at 10,493, up by 0.45 per cent, with HCL Technologies being the top gainer in the IT index.