.png)
The key equity indices continued to trade near the flat line in morning trade as the bourses continued to witness bouts of volatility. The Nifty traded below the 19,450 level. IT shares witnessed some bit of selling.
The barometer index, the S&P BSE Sensex, was up 0.91 points or 0.02% to 65,618.75. The Nifty 50 index lost 5.40points or 0.03% to 19,434.00.
In the broader market, the S&P BSE Mid-Cap index rose 0.14% while the S&P BSE Small-Cap index gained 0.52%.
The market breadth was strong. On the BSE, 1852 shares rose and 1261 shares fell. A total of 172 shares were unchanged.
Results today:
Tata Consultancy Services (down 0.25%), HCL Technologies (up 0.35%), Anand Rathi Wealth (up 0.59%), Steel Strips Wheels (down 0.86%), 5Paisa Capital (up 2.94%) and National Standard (India) (up 1.13%) are some of the companies that will announce their quarterly earnings today.
Buzzing Index:
The Nifty IT slipped 0.64% to 29,137.25. The index had advanced 0.45% to end at 29,324.80 yesterday.
Coforge (down 1.66%), Infosys (down 1.06%), LTIMindtree (down 0.86%), Mphasis (down 0.73%) and Persistent Systems (down 0.68%) were the top losers.
Among the other losers were L&T Technology Services (down 0.37%), Tech Mahindra (down 0.36%), Tata Consultancy Services (down 0.13%).
Happiest Minds Technologies fell 1.33%. The company fixed Rs 972.16 as the floor price for the issue under qualified institutional placements. The company had, in October 2022, planned to raise Rs 1400 crore through various means.
Stocks in Spotlight:
Shares of Delta Corp (down 20%) and Nazara Technologies (down 4.65%) declined in trade on Wednesday after GST council agreed to levy 28% on online gaming, horse racing and casinos at its 50th meet.
Nazara Technologies, in an exchange filing, said that the 28% GST implementation will have minimal impact on overall revenue.
PVR-Inox advanced 0.10%. The GST Council agreed to reduce GST on food and beverages at cinema halls to 5% from the previous 18%.
Numbers to Watch:
The yield on India's 10-year benchmark federal paper rose 0.01% to 7.096 from its previous close of 7.095.
In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 82.3250, compared with its close of 82.4150 during the previous trading session.
MCX Gold futures for 4 August 2023 settlement advanced 0.22% to Rs 58,900.
The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.31% to 101.42.
The United States 10-year bond yield fell 0.53% to 3.959.
In the commodities market, Brent crude for September 2023 settlement gained 6 cents or 0.08% to $79.46 a barrel.
Global Markets:
Asian stocks are trading mixed on Wednesday ahead of the key inflation data from India and the US to be released later today.
Japan's corporate goods price index rose at a slower pace of 4.1% year-on-year in June, the sixth straight month that growth has slowed. Also known as the wholesale inflation gauge, the 4.1% figure is lower than May's revised print of 5.2%, and also the slowest inflation rate recorded since April 2021.
US stocks ended higher on Tuesday, helped by optimism ahead of key inflation reports and as JPMorgan and other financial shares gained before earnings later this week.
US consumer price data is due on Wednesday, while a producer prices report is due on Thursday. Investors are looking for further clues on whether price pressures are abating and if the Federal Reserve is nearing the end of its interest rate hiking cycle.
No comments:
Post a Comment