Benchmarks edge lower; broader markets outperform
Published on Apr 11, 2022 09:25
The domestic equity barometers traded with significant cuts in early trade on selling in index pivotals. The Nifty was trading below the 17,700 mark. While IT, banks, and financials stocks declined, oil & gas, metals, and pharma shares managed to trade in the green.
At 09:21 IST, the S&P BSE Sensex was down 379.62 points or 0.64% to 59,067.56. The Nifty 50 index lost 87.15 points or 0.49% to 17,697.20.
The broader market traded higher with gains. The S&P BSE Mid-Cap index rose 0.33% while the S&P BSE Small-Cap index rallied 0.63%.
The market breadth was strong. On the BSE, shares 1,986 rose and 823 shares fell. A total of 139 shares were unchanged
Stocks in Spotlight:
IT major TCS shed 0.41% to currently trade at Rs 3671.85, ahead of its Q4 result today.
Tata Motors rose 1.24% to Rs 457.70. The company`s` wholly owned subsidiary Jaguar Land Rover (JLR) said retail sales for the quarter ending 31 March 2022 were 79,008 vehicles, down 1% (1,118 units) from the previous quarter ending 31 December 2022 and 36% (44,475 units) from the quarter a year ago ending 31 March 2021.
Axis Bank fell 1.01% to Rs 786.85. The bank said that its board is scheduled to meet on Thursday, 28 April 2022, to consider raising funds by issue of debt Instruments, including but not limited to bonds and non-convertible debentures.
GTPL Hathway slipped 3.77% to Rs 205.75. The company reported 8.3% decline in consolidated net profit to Rs 56.6 crore on a 20.3% fall in total income to Rs 627.8 crore in Q4 FY22 over Q4 FY21.
Asian stocks are trading lower on Monday as investors reacted to Chinese inflation data for March.
China`s producer inflation for March was higher than expected. The producer price index surged 8.3% as compared with a year ago, official data showed Monday. Chinese consumer inflation also rose more than expected in March, with the consumer price index climbing 1.5% year on year.
U.S. stocks ended mixed Friday, with the technology-laden Nasdaq Composite and S&P 500 closing lower, as investors continued to digest the Federal Reserve`s plans to aggressively raise interest rates and shrink its balance sheet.
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