Equity Indices Dip in Afternoon Trading amid Mixed Global Cues and Corporate Results

7 Nov 2023 , 01:06 PM

During the afternoon session on November 7, equity indices witnessed a decline, mirroring a subdued trend observed in Asian markets. The setback was influenced by varied Chinese trade data and concerns revolving around heightened interest rates. The market saw a blend of corporate results, leading to selective stock movements.

At 1 PM, the Sensex registered a decline of 197.67 points, marking a decrease of 0.30%, standing at 64,761.02, while the Nifty observed a drop of 44.50 points, down by 0.23% at 19,367.30. Of the total, 1662 stocks displayed an increase, 1478 stocks reported a decline, and 97 stocks maintained their previous position.

Sector-wise, realty, banks, financial services, FMCG, IT, and teck sectors displayed a downward trend, whereas healthcare, commodities, energy, industrials, utilities, and metal sectors observed gains. The BSE mid-cap index witnessed a modest rise of 0.54%, and the small-cap gauge demonstrated a minor increase of 0.26%.

Foreign institutional investors (FIIs) continued their selling streak, offloading shares worth a net Rs 549.37 crore on November 6. Conversely, Domestic Institutional Investors (DIIs) bought shares amounting to Rs 595.70 crore.

Bajaj Finance witnessed a 1.21% decline after announcing the launch of a Qualified Institutional Placement (QIP) to procure funds, securing its place as top laggards in Sensex pack. The floor price was set at Rs 7,533.81 per share. ICICI Bank reported a decline of 1.17 followed by HDFC Bank, which experienced a 0.81% decrease. 

The gainers’ list encompassed Sun Pharma, NTPC, Tech Mahindra, JSW Steel, and UltraTech Cement, signifying notable performances amid the market’s varied movements.