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STREET INVESTMENT |
The key equity indices tumbled and hit fresh intraday low in morning trade as weak global cues and sluggish growth outlook of companies spooked investors. The Nifty slipped below the 17,950 level. Bank stocks declined for second day in a row.
The barometer index, the S&P BSE Sensex, was down 545.65 points or 0.89% to 60,433.10. The Nifty 50 index lost 173.30 points or 0.96% to 17,945.
In the broader market, the S&P BSE Mid-Cap index slipped 1.33% while the S&P BSE Small-Cap index declined 0.98%.
The market breadth was weak. On the BSE, 915 shares rose, and 2250 shares fell. A total of 125 shares were unchanged.
Results Today:
Bajaj Auto (up 0.50%), Tata Motors (down 0.65%), Cipla (down 0.86%), DLF (down 2.33%), Dr Reddy's Laboratories (down 1.55%), Amara Raja Batteries (down 1.07%), Bikaji Foods International (down 0.75%), Blue Dart (down 1.33%), Dixon Technologies (down 1.80%), Indraprashtha Gas (down 1.79%), Indian Bank (down 1.16%), Patanjali Foods (down 1.78%), Solar Industries India (down 3.20%), Tata Elxsi (down 0.21%), Torrent Pharmaceuticals (down 0.52%), Asahi India Glass (up 0.51%), Sundaram-Clayton (down 0.88%), VIP Industries (up 0.19%) are some of the companies that will announce their quarterly earnings today.
Buzzing Index:
The Nifty Bank index fell 1.54% to 42,076.80. The index has lost 1.74% in two sessions.
Sona BLW Precision Forgings (up 4.36%), TVS Motor Company (up 2.66%), Maruti Suzuki India (up 0.85%) and Mahindra & Mahindra (up 0.08%) were the top gainers.
On the other hand, Samvardhana Motherson International (down 1.96%), Bharat Forge (down 1.83%) and MRF (down 1.65%) moved lower.
Stocks in Spotlight:
Rail Vikas Nigam (RNVL) rose 0.60%. The company has received letter of award for provision of automatic block signalling with dual MSDAC, EI/OC interface and block optimization in Arakkonam Junction-Nagari section of Chennai division in Southern Railway. The cost of the project is Rs 38.40 crore.
Triveni Engineering & Industries shed 0.98%. The company reported consolidated net profit of Rs 147.28 crore in Q3 FY23 from Rs 130.12 crore in Q3 FY22. Total income rose to Rs 1658.71 crore in Q3 FY23 from Rs 1235.44 crore in Q3 FY22.
PDS fell 2.27%. The company's board appointed Rahul Ahuja as group chief financial officer (CFO) with effect from 25 January 2023.
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