Nifty below 18,100 level, oil & gas shares tumble
Published on May 19, 2023 10:36
The benchmark indices traded with minor cuts in morning trade. The Nifty traded below the 18,100 level after hitting the day`s high of 18,186.15 in early trade. Oil & gas shares extended losses for the sixth consecutive trading sessions.
At 10:30 IST, the barometer index, the S&P BSE Sensex, was down 70.5 points or 0.11% to 61,361.24. The Nifty 50 index shed 35.40 points or 0.20% to 18,094.55.
The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index lost 0.40% while the S&P BSE Small-Cap index fell 0.36%.
The market breadth was negative. On the BSE, 1,271 shares rose and 1,841 shares fell. A total of 128 shares were unchanged.
Shares of Nexus Select Trust were currently trading at Rs 103.80 at 10:21 IST on the BSE, representing a premium of 3.8% compared with the issue price of Rs 100.
The scrip was listed at a price of Rs 102.27, at a premium of 2.27% as compared to the issue price.
So far, the stock has hit a high of 104.90 and a low of 102.27. On the BSE, over 3.77 lakh shares of the company were traded in the counter so far.
NTPC (down 0.60%), Power Grid Corporation of India (down 0.38%), Punjab National Bank (up 0.56%), JSW Steel (down 0.48%), Zomato (up 0.24%), Abbott India (down 0.51%), Alkem Laboratories (up 0.06%), Bandhan Bank (down 1.33%), Cochin Shipyard (down 0.98%), Crompton Greaves Consumer Electricals (down 0.04%), Dilip Buildcon (down 0.15%), Delhivery (down %), Elgi Equipments (up 0.85%), Glenmark Pharmaceuticals (up 0.95%), Godrej Industries (down 0.41%), IRB Infrastructure Developers (up 0.80%), JK Lakshmi Cement (down %1.68), Minda Corporation (up 2.15%), Muthoot Finance (down 1.26%), Narayana Hrudayalaya (down 0.11%), NLC India (down 0.72%), Sun TV Network (up 0.99%), VA Tech Wabag (down 1.43%), and Welspun Enterprises (up 1.93%) will announced their quarterly earnings later in the day.
The Nifty Oil & Gas index declined 1.09% to 7,354.80. The index dropped 3.69% in six trading sessions.
Adani Total Gas (down 5%), Indraprastha Gas (down 2.93%), GAIL (India) (down 2.59%), Gujarat Gas (down 2.32%), Aegis Logistics (down 1.39%) Indian Oil Corporation (down 1.22%), Mahanagar Gas (down 1.08%), Hindustan Petroleum Corporation (down 0.92%), Castrol India (down 0.84%) and Petronet LNG (down 0.82%) edged lower.
PNB Housing Finance slipped 2.82%. The housing finance company posted 64.7% surge in consolidated net profit to Rs 279.28 crore in Q4 FY23 as against Rs 169.54 crore in Q4 FY22. Total income rose 14.9% to Rs 1,637.72 crore in the fourth quarter from Rs 1,425.83 crore in the corresponding year last year.
Gland Pharma was locked in a lower circuit of 20% after the company reported 72% drop in net profit to Rs 78.7 crore in Q4 FY23 from Rs 285.9 crore in Q4 FY22. Revenue from operations fell by 29% YoY to Rs 785 crore during the quarter. The decline in revenue was on account of a production line shut down in Q4FY23 in Pashamylaram Penems facility due to line upgradation and reduced business from domestic B2C division during the year as compared to previous year.
PI Industries shed 0.50%. The company reported 37% rise in net profit to Rs 280.6 crore on a 12% increase in revenue to Rs 1,565.6 crore in Q4 FY23 as compared with Q4 FY22.
Powered by Capital Market - Live News