Sensex tanks 300 pts, Nifty trades below 17600 in early trade on Tuesday, Jan 31; Tech Mahindra shares fall 3%
时间:2024-06-26 06:04:51 阅读(143)
Domestic indices after opening in green slipped into negative territory ahead of the Economic Survey. The BSE Sensex fell 347.47 points or 0.58% to 59,152.94 and the Nifty 50 dropped 96.85 pts or 0.55% to 17,552.10. The top gainers of Sensex were Power Grid (up 1.75%), Mahindra & Mahindra (up 1.08%), State Bank of India (SBIN) (up 1%%), Tata Motors (up 0.74%) and Reliance IndustriesLtd (RIL) (up 0.63%) while Tech Mahindra (down 3.49%), HCL Tech (down 1.83%), Infosys (down 1.47%), Infosys (down 1.47%) and TCS (down 1.45%) were the top laggards.
On the other hand, Adani Enterprises shares and Adani Ports shares were trading in the green while other Adani group companies’ shares were trading lower after three Adani Group stocks, Adani Total Gas, Adani Green Energy and Adani Transmission, have their circuit limit narrowed down from 20% to 10% after two continuous days of fall. Today too, Adani Total Gas hit the revised lower circuit of 10% soon after opening. The other two stocks Adani Green Energy and Adani Transmission were down 8% and 3%, respectively.
The sectoral indices were trading broadly lower. Bank Nifty fell 0.23%, Nifty FMCG fell 1.05%, Nifty IT fell 1.72%, Nifty Pharma down 0.52%, Nifty Oil & Gas dropped 0.70% and Nifty Realty down 0.41% while Nifty Auto and Metal rose 0.59% and 0.85% respectively.
Asian and US stock marketsAsian markets were trading lower in the early morning trade on Tuesday. China’s Shanghai Composite index fell marginally by 1.73 pts or 0.05% to 3,267.59, Japan’s Nikkei slipped 20.96 pts or 0.08% to 27,412.44, South Korea’s KOSPI dipped 12.93 pts or 0.53% to 2,437.54 while Hong Kong’s Hang Seng rose 61.98 pts or 0.28% to 22,131.71.
The US stock market ended in red on Monday. The Dow Jones Industrial Average fell 260.99 points or 0.77% to 33,717.09, S&P 500 dropped 52.79 pts or 1.30% to 4,017.77 and the tech-heavy Nasdaq slipped 227.90 pts or 1.96% to 11,393.81.
FII and DII dataForeign institutional investors (FII) sold shares worth a net Rs 6,792.8 crore while domestic institutional investors (DII) bought shares worth a net Rs 5,512.63 crore on Monday, January 30, 2023, according to the data available on NSE. For the month till January 30, FII sold shares worth a net Rs 36,025.09 crore while DII bought shares worth a net Rs 28,905.54 crore.
NSE F&O BanAmbuja Cements is the stock/security placed on the National Stock Exchange’s futures and options (F&O) ban for trade on Tuesday, January 31.
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- tioned itself as a premium retailer of brands.
The move had also prompted the country’s largest organised retailer Reliance Retail to step into the value retail segment with Yousta, which was announced on Thursday. Like Intune, Yousta began its operations in Hyderabad, with plans to expand across the country. Intune has three stores – two in Hyderabad and one in Dombivli, near Mumbai, with plans to add another three more outlets in the coming months.
Nair had admitted on a recent earnings call that the apparel segment in general was witnessing moderation and that the value retail foray by Shoppers Stop could help the company tap into the growing trend for affordable fashion and lifestyle products, aiding sales growth.
That was an important statement for Shoppers Stop, which reported a nearly 37% year-on-year drop in net profit to Rs 14.5 crore in the June quarter of FY24, even as revenue grew only 4.8% versus the previous year to nearly Rs 994 crore.
On a yearly basis, the company had last reported a net profit of nearly Rs 114 crore in FY23 after three consecutive years of loss between FY20 and FY22 due to the Covid-19 pandemic. FY23 topline also jumped nearly 60% year-on-year to Rs 4,022 crore, the highest in six years, its results showed.
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