Equity benchmarks were trading lower in Friday's deals. Losses were led by automobile, consumer and energy stocks. Sensex fell 23 points or 0.04% to trade at 61,408, while the broader NSE Nifty moved 21 points or 0.12% lower to trade at 18,109. Mid- and small-cap shares were down as Nifty Midcap 100 fell 0.62% and small-cap was down 0.64%.
VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services said, “Nifty is finding it difficult to break the 18100-18400 range, in spite of favourable global cues and good Q4 results. The US 10-year bond yield has risen to 3.64 and the rupee has weakened to 82.65 to the dollar. This currency movement is not supportive for the equity market. And FII buying is getting neutralised by DII selling. The sell on rally strategy of the bears has been working this week. The near-term outlook is cloudy.”
ITC stock fell over a percent to Rs 411.50 today after the firm reported a 21.37% YoY rise in standalone net profit at Rs 5,086.90 crore for the March quarter compared with Rs 4,190.96 crore in the same quarter last year. The stock was the top loser on Sensex.
Gland Pharma stock fell 20% to Rs 1070.80 against the previous close of Rs 1,338.50. It opened at Rs 1175.05 on BSE. Market cap of the firm fell to Rs 17,636 crore. It was the top loser on BSE in early trade.
Shares of Adani Power fell 5% to Rs 214 on BSE. Market cap of the firm fell to Rs 82,538 crore. Adani Power stock opened at Rs 220 on BSE.
Shares of Titan Company were among the stocks with highest turnover in early trade. Total 1.26 lakh shares of the firm changed hands amounting to a turnover of Rs 34.37 crore. Market cap of the firm stood at Rs 2.38 lakh crore.
Shares of Mirza International hit lower circuit of 5% at Rs 61.82 in early trade. Total 0.81 lakh shares of the firm changed hands amounting to a turnover of Rs 50.55 lakh. Market cap of the firm fell to Rs 854.36 crore
Shares of Adani Total fell 5% to Rs 633.35 (52-week low ) in early trade. It opened at the same level against the previous close of Rs 666.65. Market cap of the firm fell to Rs 69656 crore.
Shares of InterGlobe Aviation plunged to Rs 2,230 against the previous close of Rs 2,264.95 on BSE. Market cap of the firm fell to Rs 87,118 crore. InterGlobe Aviation, which runs IndiGo, reported a consolidated net profit of Rs 919.20 crore for the March quarter compared with a profit of Rs 1,422.60 crore in the December quarter and a loss of Rs 1,681.80 crore in the corresponding quarter last year.
Shares of KEC International rose 6% to Rs 513.35 in early trade today. Market cap of the firm rose to Rs 13,103 crore. The stock was among the top gainers on BSE.
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