Indices edge lower, breadth positive

3 Aug 2022 , 09:35 AM

The key equity indices are trading with minor cuts in the early trade. The Nifty traded below the 17,350 mark. IT, healthcare and metal shares were in demand while auto, PSU Bank and financial services stocks declined. At 09:30 IST, the barometer index, the S&P BSE Sensex, was down 37.9 points or 0.07% to 58,098.46. The Nifty 50 index declined 19.45 points or 0.11% to 17,326. In the broader market, the S&P BSE Mid-Cap index fell 0.25% while the S&P BSE Small-Cap index shed 0.08%. The market breadth was positive. On the BSE, 1,341 shares rose and 1,270 shares fell. A total of 105 shares were unchanged. Foreign portfolio investors (FPIs) bought shares worth Rs 825.18 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 117.79 crore in the Indian equity market on 2 August, provisional data showed. Stocks in Spotlight: ITC shed 0.27%. ITC said that following a strategic review of its business portfolio, the company has exited the Lifestyle Retailing Business. eClerx Services surged 12.70%. eClerx Services said that a meeting of board of directors of the company will be held on 9 August 2022 to consider the proposal for issuance of bonus equity shares of the company. Voltas declined 2.06%. The companys net profit for the quarter ended 30 June 2022 was at Rs 110 crore as compared to Rs 122 crore in the corresponding quarter last year. Consolidated total income was higher by 50% at Rs 2795 crore in the quarter ended 30June 2022 as compared to Rs 1860 crore in the corresponding quarter last year. Aurobindo Pharma fell 1.22%. The United States Food and Drug Administration (US FDA) inspected the Companys Unit XI, an API non-antibiotic manufacturing facility situated at Pydibhimavaram, Srikakulam District, Andhra Pradesh, from July 25 to August 2, 2022. At the end of the inspection, the company was issued a Form 483 with 3 observations and none of these observations are related to data integrity. Jubilant Pharmova shed 0.65%. The pharmaceutical company announced that the United States Food and Drug Administration (USFDA) has recently concluded audit of the Solid Dosage Formulations facility at Roorkee, India of Jubilant Generics, a subsidiary of its wholly owned subsidiary Jubilant Pharma Limited. The US FDA has issued six observations pursuant to the completion of the audit. Global Markets: Asian stocks are mostly higher on Wednesday as geopolitical tensions between the U.S. and China intensified over U.S. House Speaker Nancy Pelosis visit to Taiwan. Pelosi arrived in Taiwan on Tuesday night local time amid warnings from Beijing. In economic news, Chinas services activity grew at the fastest rate in 15 months in July as easing COVID curbs boosted consumer confidence, a private-sector survey showed on Wednesday. Chinas Caixin Services Purchasing Managers Index for July came in at 55.5, up from 54.5 in June. Its also the highest since April 2021. Wall Street ended lower after a choppy session on Tuesday, with geopolitical tensions flaring after US House of Representatives Speaker Nancy Pelosi visited Taiwan. Powered by Capital Market – Live News