Shares trade with limited losses; European markets decline

9 May 2022 , 01:29 PM

The domestic equity barometers further pared losses and traded with limited losses in afternoon trade. The Nifty marched towards the 16,350 mark. At 12:27 IST, the barometer index, S&P BSE Sensex was down 269.31 points or 0.49% to 54,566.27. The Nifty 50 index lost 79.60 points or 0.49% to 16,331.65. Infosys (up 2.70%), HCL Tech (up 2.20%), Power Grid Corp (up 1.97%), Divis Lab (up 1.75%) and Bajaj Auto (up 1.50%) were the top Nifty gainers. IndusInd Bank (down 2.92%), Nestle India (down 2.43%), Hero MotoCorp (down 2.42%), Tech Mahindra (down 1.70%) and Coal India (down 1.68%) were the top Nifty losers. The broader market declined more than benchmark indices. The S&P BSE Mid-Cap index slipped 1.46% while the S&P BSE Small-Cap index fell 1.25%. The market breadth was weak. On the BSE, 1051 shares rose while 2331 shares fell. A total of 143 shares were unchanged Global markets: European markets declined while most Asian markets traded lower on Monday, tracking negative sentiment globally as investors continued to mull over persistently high inflation. Investors also kept an eye on the war in Ukraine as dozens are feared dead after a school in the Luhansk region in eastern Ukraine was hit by Russian shelling. Luhansk is one of the two regions that make up the Donbas, where Russian troops are now largely concentrating their attacks. U.S. first lady Jill Biden made a surprise visit to Ukraine on Sunday. The U.S. and Group of Seven countries announced that they would increase short-term financial support for Ukraine as the war with Russia nears the three-month mark. US stock indexes extended losses for a second day on Friday as elevated US Treasury yields dragged growth shares after stronger-than-expected jobs data amplified investor fears of bigger interest rate hikes to tame surging prices. The Labor Departments report showed nonfarm payrolls increased by 428,000 jobs in April. Unemployment rate remained unchanged at 3.6% in the month. Earnings in Focus: Reliance Industries (RIL) fell 2.96% to Rs 2543.65. On a consolidated basis, RIL reported 20.2% increase in net profit to Rs 18,021 crore on 38.64% rise in net sales to Rs 207,375 crore in Q4 March 2022 over Q4 March 2021. Profit before tax (PBT) rose 36.8% to Rs 22,411 crore in Q4 March 2022 over Q4 March 2021. UPL slipped 1.58% to Rs 774.40. The company reported 29.7% rise in net profit to Rs 1,379 crore on a 23.9% increase in net sales to Rs 15,861 crore in Q4 FY22 over Q4 FY21. Tata Power Company slumped 6.04% to Rs 227.95. The company reported 28% rise in consolidated net profit to Rs 503.11 crore on a 15.4% increase in net sales to Rs 11,959.96 crore in Q4 FY22 over Q4 FY21. Central Bank of India fell 1.09% to Rs 18.20. The bank reported a net profit of Rs 310.31 crore in Q4 FY22 as against a net loss of Rs 1,349.21 crore in Q4 FY21. Total income increased by 12% YoY to Rs 6,419.58 crore during the quarter. Vesuvius India jumped 7.73% to Rs 1057.30 after the companys net profit rose 46.50% to Rs 23.63 crore on 25.23% rise in net sales to Rs 310.12 crore in Q1 March 2022 over Q1 March 2021. Apollo Tricoat Tubes tumbled 5.36% to Rs 841.70 after the company reported 10% fall in net profit to Rs 30.8 crore despite a 77% increase in revenue to Rs 830.5 crore in Q4 FY22 over Q4 FY21. DCB Bank jumped 5.45% to Rs 82.30 after the banks net profit rose 45.60% to Rs 113.44 crore on 7% rise in total income to Rs 1,034.71 crore in Q4 March 2022 over Q4 March 2021. Powered by Capital Market – Live News