iifl-logo

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

sidebar image

Barometers at the low point of the day; European markets decline

11 Oct 2022 , 01:26 PM

The key equity benchmarks were currently at the days low in afternoon trade. Domestic sentiment was dented amid negative global cues. The Nifty traded tad above the 17,100 mark. Shares across sectors declined with metals, IT, FMCG and pharma stocks losing the most. At 13:24 IST, the barometer index, the S&P BSE Sensex, was down 386.72 points or 0.67% to 57,604.39. The Nifty 50 index lost 130.35 points or 0.76% to 17,110.65. Among the Nifty 50 stocks, Divis Laboratories (down 3.79%), IndusInd Bank (down 3.58%), Eicher Motors (down 2.74%), Dr. Reddys Laboratories (down 2.63%) and JSW Steel (down 2.36%) were the top losers. Asian Paints (up 2.16%), Axis Bank (up 1.74%), Adani Enterprises (up 1.10%), Power Grid Corp (up 0.74%) and Bajaj Finserv (up 0.16%) outperformed. In the broader market, the S&P BSE Mid-Cap index slipped 0.91% while the S&P BSE Small-Cap index declined 0.70%. The market breadth was negative. On the BSE, 1,335 shares rose and 1,989 shares fell. A total of 147 shares were unchanged. Primary Market: The initial public offer (IPO) of Tracxn Technologies received bids for 83.09 lakh shares as against 2.12 crore shares on offer, according to stock exchange data 13:21 IST on Tuesday (11 October 2022). The issue was subscribed 0.39 times. The issue opened for bidding on Monday (10 October 2022) and it will close on Wednesday (12 October 2022). The price band of the IPO is fixed at Rs 75-80 per share. An investor can bid for a minimum of 185 equity shares and in multiples thereof. Stocks in Spotlight: Tata Consultancy Services (TCS) fell 1.06%. TCS reported 10.1% rise in consolidated net profit to Rs 10,431 crore on 4.8% increase in revenue to Rs 55,309 crore in Q2 FY23 over Q1 FY23. The board recommended an interim dividend of Rs 8 per share. The record date for the same is 18 October 2022 and the payment date is 07 November 2022. Infosys declined 1.53%. The IT major said that its board will consider a proposal for buyback of fully paid-up equity shares of the company at its meeting to be held on 13 October 2022. On the same day, the IT majors board will consider and approve the audited standalone and consolidated financial results for the quarter and half year ending 30 September 2022. Tata Motors shed 0.21%. The Tata Motors Group global wholesales in Q2 FY23, including Jaguar Land Rover (JLR), stood at 3,35,976 units, rising 33%, as compared to Q2 FY22. Panacea Biotec surged 17.95%. The company announced the receipt of long-term supply awards worth $127.30 million (around Rs 1,040 crore) from UNICEF and Pan American Health Organization (PAHO). The contract is for the supply of WHO pre-qualified fully liquid Pentavalent vaccine, Easyfive-TT (DTwP-HepB-Hib). Larsen & Toubro (L&T) lost 0.60%. The EPC major on Tuesday said that the water & effluent treatment business of L&T Construction has secured repeat orders from the Water Resources Department, Government of Odisha. As per L&Ts classification, the value of the significant project is Rs 1,000 crore to Rs 2,500 crore. Global markets: Shares in Europe and Asia declined on Tuesday following a fourth straight drop in US equities amid persistent concern that rising interest rates and geopolitical threats will crimp global growth. Stocks slumped in Japan and South Korea as trading resumed after holidays. Along with concern over interest rate hikes from central banks and their impact on economic growth, investors also kept an eye on the developments in Ukraine after multiple explosions hit the center of Ukraines capital Kyiv. US stocks fell on Monday as investors worried about the impact of higher interest rates and pulled out of chipmakers after the United States announced restrictions aimed at hobbling Chinas semiconductor industry. The mood remains fragile ahead of Thursdays US inflation data, with the case for another 75 basis-point rate hike likely to be strong if the data comes in hotter-than-expected, as per reports. Powered by Capital Market – Live News

Related Tags

  • capital market
sidebar mobile

BLOGS AND PERSONAL FINANCE

Read More
Knowledge Center
Logo

Logo IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000

Logo IIFL Capital Services Support WhatsApp Number
+91 9892691696

Download The App Now

appapp
Loading...

Follow us on

facebooktwitterrssyoutubeinstagramlinkedintelegram

2025, IIFL Capital Services Ltd. All Rights Reserved

ATTENTION INVESTORS

RISK DISCLOSURE ON DERIVATIVES

Copyright © IIFL Capital Services Limited (Formerly known as IIFL Securities Ltd). All rights Reserved.

IIFL Capital Services Limited - Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
ARN NO : 47791 (AMFI Registered Mutual Fund Distributor)

ISO certification icon
We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.