Indices open on a weak note
Published on Jan 20, 2022 09:29
The domestic equity benchmarks traded on a weak note in early trade on selling pressure in index pivotals. The Sensex fell below the 60,000 level.
At 09:27 IST, the barometer index, the S&P BSE Sensex, was down 255.23 points or 0.42% to 59,843.59. The Nifty 50 index lost 68.30 points or 0.38% to 17,870.10.
Tata Consumer (up 2.54%), Power Grid Corp (up 2.25%), Grasim (up 1.05%), and Ultratech Cement (up 0.79%) were the top index gainers.
Infosys (down 1.56%), Asian Paints (down 1.07%), Wipro (down 0.84%) and Reliance Industries (down 0.82%) were the top index losers.
In the broader market, the S&P BSE Mid-Cap index rose 0.22% while the S&P BSE Small-Cap index rose 0.51%.
Buyers outpaced sellers. On the BSE, 1612 shares rose and 1097 shares fell. A total of 101 shares were unchanged.
Stocks in Spotlight:
Bajaj Auto fell 1.22% to Rs 3401.55. The auto major posted a 22% fall in net profit to Rs 1214 crore on 1% rise in revenue from operations to Rs 9022 crore in Q3 FY22 over Q3 FY21.
Larsen & Toubro Infotech shed 0.48% to Rs 6660. The IT firm posted 11% rise in consolidated net income to Rs 612.5 crore on 9.8% rise in revenue to Rs 4137.60 crore in Q3 FY22 over Q2 FY22.
Tata Communications slipped 1.56% to Rs 1498.75. The company posted a 28% jump in consolidated net profit to Rs 395 crore in Q3 FY22 from Rs 309.4 crore reported in Q3 FY21. Gross revenue from operations declined 0.9% to Rs 4,185 crore in Q3 FY22 over Q3 FY21.
Rallis India slumped 4.96% to Rs 280.05. The company posted a 13.3% fall in consolidated net profit to Rs 40 crore on 10.1% rise in revenue to Rs 628 crore in Q3 FY22 over Q3 FY21.
Asian stocks are trading mixed on Thursday as China cut its key lending rates.
China on Thursday cut its one-year loan prime rate by 10 basis points, while its five-year LPR, which influences the pricing of home mortgages, was cut by 5 basis points, the first time since April 2020.
Wall Street`s main indices ended sharply lower on Wednesday after a diverse set of corporate earnings and as investors continued to worry about higher US Treasury yields and the Federal Reserve tightening monetary policy.
Powered by Capital Market - Live News