18 Apr 2022 , 09:45 AM
In the early deals, Nifty 50 has plunged around 300 points with an intraday low of 17,160.70. Meanwhile, Sensex dips over 1,129 points with an intraday low of 57,152.75.
At around 09:45 AM, Nifty 50 was trading at 17,224.70 down by 250.95 points or 1.44%. Sensex was performing at 57,356.54 lower by 982.39 points or 1.68%.
Gainers on Nifty 50 were – NTPC surging by 2.6% followed by ONGC soaring 1.8%. While Tata Steel and Coal India climbed by 1.6% and 1.2% respectively.
Losers on Nifty 50 were – Infosys plunging over 6.5%. Tech Mahindra and TCS followed by 4.2% and 3% drop each. HDFC and Wipro slipped by 2.6% each.
In terms of sectoral indices, Nifty IT stocks weigh as the index nosedived by nearly 1,400 points. Nifty Bank also dipped by 560 points. Nifty PSU Bank and Nifty Financial Services slumped by nearly 1.6% each, while Nifty Media fell over 2% and Nifty Realty down 1%. However, Nifty Metal, auto and FMCG indices logged some buying sentimetns from investors to trade flat but in the green.
HDFC Bank stocks in focus today as the Bank on April 16 reported a 23 percent yoy growth in standalone net profit at Rs10,055.2 crore for the quarter ended March 2022 as bad loans provisions declined 29 percent, with further improvement in asset quality.
Also, Infosys stocks in focus post Q4. The IT-giant on April 13 reported a consolidated net profit of Rs5,686 crore for the fourth quarter ended March 2022, registering an on-year growth of 12 percent. On a sequential basis, the profit has declined by 2 percent.
On the global front, Asian stocks broadly traded in the red led by the Japanese ‘Nikkei’ which traded lower by over 400 points in early trade following the weak US cues. US markets see weakness on Friday as the consumer price index spurt again sees pressure on bond yields which rise to 2.75%.
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