Indian markets nosedived in Thursday’s early trade with the benchmark Sensex erasing 61,000-mark and Nifty 50 giving up 18,200-level. IT and Consumer Durables stocks dragged the benchmarks the most with substantial pulls from metal, banking, auto stocks.
At home, corporate earnings season are in focus and swaying markets mood.
At around 9:40 AM, Sensex was trading at 60,852.31 down by 193.43 points or 0.32%. The stock was near the day’s low of 60,775.93.
Nifty 50 performed at 18,105.70 below 59.65 points or 0.33%. The index was near the intraday low of 18,095.90.
In terms of sectoral indices, on NSE, the Consumer durable index dipped by over 260 points followed by the IT index plunged over 200 points.
Top Contributors on Nifty were – HDFC Life, Axis Bank, Asian Paints, Cipla and UPL surging between 0.3-1.2%.
Top losers on Nifty were – Adani Enterprises, Hindalco, Kotak Bank, Titan and Eicher Motors slumping between 0.97-1.9%.
Companies that are set to announce their Q3 are – Hindustan Unilever, Asian Paints, AU Small Finance Bank, Can Fin Homes, L&T Technology Services, Happiest Minds Technologies, Havells India, Hindustan Zinc, Anant Raj, IIFL Wealth Management, IndiaMART InterMESH, ICICI Securities, Mphasis, Polycab India, PVR, and Sterling and Wilson Renewable Energy.
On the global front, Asian markets opened in the red led by the US sell off with the Japanese ‘Nikkei’ trading lower by 250 points snapping two days superb rally.
Overnight, on Wall Street, US markets see another day of selling pressure as retail sales disappoint indicating consumption is stalling coupled with out of turn Federal Reserve members comments on 50 basis hike in February. Dow Jones falls 630 points while Nasdaq falls 137.
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