Barometers trade with significant cuts; most Asian shares in red
Published on Jan 21, 2022 11:27
The key equity indices continued to trade with deep losses in mid-morning trade. The Nifty managed to trade above the 17,600 mark. Auto shares were in demand.
At 11:24 IST, the barometer index, the S&P BSE Sensex, was down 450.09 points or 0.76% to 59,014.53. The Nifty 50 index lost 139.55 points or 0.79% to 17,617.45.
In the broader market, the S&P BSE Mid-Cap index slipped 1.04% while the S&P BSE Small-Cap index declined 0.67%.
The market breadth was weak. On the BSE, 1155 shares rose and 2068 shares fell. A total of 109 shares were unchanged.
The Nifty Auto index rose 0.52% to 11,643.70. The index had declined 0.84% to end at 11,583.20 yesterday.
Bajaj Auto (up 3.36%), TVS Motor Company (up 1.92%), Maruti Suzuki (up 1.90%), Hero MotoCorp (up 1.27%) and Eicher Motors (up 0.49%) advanced.
Concurrently, Tata Motors (down 1.07%), Bharat Forge (down 0.85%), Ashok Leyland (down 0.43%) declined.
Stocks in Spotlight:
Cyient shed 0.40% to Rs 972.25. On a consolidated basis, the IT company`s net profit rose 8.66% to Rs 131.80 crore on 6.46% increase in revenue from operations to Rs 1,183.40 crore in Q3 December 2021 over Q2 September 2021.
Mphasis added 1.37% to Rs 3096.10 after the company`s consolidated net profit rose 4.75% to Rs 357.67 crore 8.87% increase in revenue from operations to Rs 3,123.71 crore in Q3 December 2021 over Q2 September 2021.
Container Corporation of India (CONCOR) slumped 5.20% to Rs 626.40. The company`s consolidated net profit jumped 21.59% to Rs 283.39 crore on a 9.68% surge in revenue from operations to Rs 1,938.03 crore in Q3 FY22 over Q3 FY21.
Asian stocks were trading lower on Friday, tracking declines on Wall Street overnight.
Japan`s inflation data released on Friday showed that core consumer prices rose 0.5% in December compared to a year earlier, as fuel and raw material costs increased, as per reports.
US stocks moved lower on Thursday, giving up their sharp gains from earlier in the session, as Wall Street continues to struggle this year in a rising interest rate environment.
Concern that the Federal Reserve will aggressively move to raise rates this year took toll on the market. Investors are anxiously awaiting the U.S. central bank`s policy meeting next week for new details on how it will tackle inflation.
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