Benchmarks near the day`s low; European shares decline
Published on Jul 12, 2022 13:27
The key equity barometers declined further in afternoon trade. The Nifty continued to trade below the 16,100 mark. Negative global cues dented investors sentiment.
At 13:25 IST, the barometer index, the S&P BSE Sensex, was down 370.41 points or 0.68% to 54,024.82. The Nifty 50 index lost 126.50 points or 0.78% to 16,089.50.
Hindalco (down 3.37%), Eicher Motors (down 2.35%), BPCL (down 2.22%), UPL (down 2%) and Infosys (down 1.94%) were the top Nifty losers.
However, NTPC (up 1.59%), Adani Ports (up 0.63%), Apollo Hospitals (up 0.53%), SBI (up 0.26%) and Axis Bank (up 0.22%) managed to outperform.
In the broader market, the S&P BSE Mid-Cap index shed 0.38% while the S&P BSE Small-Cap index fell 0.28%.
The market breadth was negative. On the BSE, 1,478 shares rose and 1,715 shares fell. A total of 165 shares were unchanged.
Stocks in Spotlight:
IndusInd Bank shed 0.89%. The bank said that its board will meet on Monday, 18 July 2022, to consider the proposal of raising funds through issue of debt securities in any permitted mode on a private placement basis.
Separately, IndusInd Bank informed that its board will consider and approve the unaudited standalone and consolidated financial results for the quarter ended 30 June 2022 on Wednesday, 20 July 2022.
Star Health and Allied Insurance Company jumped 6.38%. The company has partnered with Common Services Centers (CSC), under Ministry of Electronics & Information Technology, for providing over 5 lakh CSCs access to a select range of Star Health insurance products, specially designed to meet the needs of rural customers, across tier-II, tier-III cities and rural markets pan India.
Ahluwalia Contracts (India) jumped 8.55%. The company announced that it has secured a new order aggregating to Rs 150 crore.
The US Dow Jones futures were currently trading with a cut of 206 points, indicating a weak start to equities on Wall Street today.
Shares in Europe and Asia declined on Tuesday after Wall Street slipped overnight. The prospect of further monetary policy tightening by major central banks, China`s renewed COVID outbreak and Europe`s energy shortage impacted sentiment.
U.S. equities fell Monday as Wall Street braced for big company earnings reports slated for later in the week which could signal how inflation is impacting businesses.
Twitter shares dropped sharply after Elon Musk terminated a deal worth $44 billion to buy the social media company. The billionaire took issue with the number of bots and fake accounts on the platform and said Twitter wasn`t being truthful about how authentic activity on the platform was. However, the company said it gave Musk the information he needed to assess the claims.
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