MARKETS: Sensex slips 350 pts, Nifty tests 17,100; auto stocks crack
Last Updated on February 4, 2023 by Admin
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LIVE market update: Indian equities started off on a cautious note on Friday amid acceleration of bond-buying programmes by various central banks to fight off inflation and suck excess liquidity out of the system.
Individually, the shares of Wipro and Infosys gained 2.5 per cent each while HCL Tech, Tech M, and TCS added up to 2 per cent on the NSE. The rally came in the Indian IT stocks after global IT consulting firm Accenture Plc forecast better-than-expected second-quarter revenue on Thursday, as more clients seek its cloud and security services.
That apart, shares of IRCTC slipped about 1 per cent even as the company said it has raised the frequency of Ahmedabad-Mumbai Tejas Express to 5 days.
Nykaa shares als declined 2 per cent on profit booking after the company said it will launch partywear collection.
Indiabulls Housing Finance, meanwhile, dropped over 5 per cent after promoter Sameer Gehlaut said he will step down from the board by the end of FY22.
Among sectors, the Nifty IT was the only index in the green, up 1.6 per cent. All other sectoral indices were down 1 per cent.
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Pre-open session
LIVE market updates:
Benchmark indices were volatile but traded higher in pre-market session on Friday. The BSE Sensex was above the 58,000-mark, up 138 points. The Nifty50, meanwhile, was up 3 points at 17,250.
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LIVE market updates: Domestic equities may witness another subdued trading session given tthe uncertainty surrounding the Omicron variant. Also, market participants will track the foreign fund flows over the next few days given the global bankers’ stance on early withdrawal of pandemic-related stimulus and rate hike by the Bank of England.
At 8:15 AM, SGX Nifty was at 17,284 compared with Nifty’s spot close of 17,248 on Thursday.
New listing
RateGain Travel & Technologies will be in focus as the stock makes its debut today. The IPO was subscribed 17.41 times, while according to reports the grey market premium (GMP) indicated a likely 8-10 per cent listing gain.
Global markets
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First Published: Fri, December 17 2021. 08:21 IST
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