Vinod Nair, Head of Research at Geojit Financial Services, said geopolitical issues and elevated interest rate fears kept market participants jittery. Also, selling pressure intensified due to expiry-led volatility influencing investors to stay cautious, Nair mentioned.
On the stock-specific front, Maruti Suzuki India, Reliance Industries, Bajaj Finserv, LTIMindtree, Talbros Automotive Components, L&T Technology Services and some other counters will be in focus today.
Shares of Maruti Suzuki India fell 1.60% to close at Rs 10,426.45 in the last trading session. The stock will be in focus today as the carmaker will announce its second-quarter (Q2 FY24) earnings.
Shares of Reliance Industries settled 1.41% lower at Rs 2,226.20. The oil-to-telecom conglomerate, controlled by Asia's richest person Mukesh Ambani, is also scheduled to declare its Q2 FY24 earnings today.
Bajaj Finserv tumbled 3.16% to settle at Rs 1,559. The company will come up with its Q2 numbers today. In addition, Bajaj Holdings & Investment will also declare its Q2 earnings.
Shares of Cipla slipped 0.57% to finish at Rs 1,150.15 in the previous session. The pharma major is scheduled to announce its Q2 FY24 earnings today.
Shares of Dr Reddy's Laboratories shed 1.59% to close at Rs 5,424.55. The company will also report its second-quarter earnings today.
Companies such as Blue Dart Express, Bharat Petroleum Corporation, City Union Bank, Droneacharya Aerial Innovations, Indian Overseas Bank and IRB Infrastructure Developers will also announce their respective quarterly results today.
Shares of ICICI Lombard General Insurance Company slipped 0.79% to settle at Rs 1,353.50. The company's stock will trade ex-dividend today. It has announced an interim dividend of Rs 5. ICICI Securities will also turn ex-dividend today (Rs 12).
Shares of LTIMindtree fell 0.60% to settle at Rs 5,171.95. The firm has declared an interim divided of Rs 20. It will trade ex-dividend today.
Shares of L&T Technology Services slipped 1.70% to settle at Rs 4,138.50. L&T Tech has announced an interim dividend of Rs 17. The scrip will also turn ex-dividend today.
Shares of Shashijit Infraprojects plunged 16.68% to settle at Rs 36.81. The company's stock will trade ex-split today from Rs 10 to Rs 2.
Shares of Maruti Interior Products dived 7.51% to settle at Rs 189.60. The stock will trade ex-bonus in a 1:1 ratio. Other than Maruti Interior, Shri Venkatesh Refineries will also be going ex-bonus in the same ratio.
"Technically, a bearish candle on daily charts and weak intraday formation is indicating further weakness from the current levels. As long as the index is trading below 19,000, the weak sentiment is likely to continue till 18,800-18,725 levels. On the flip side, one relief rally is possible only after the dismissal of 19,000 and above the same, the index could move up till 19,100-19,150," said Shrikant Chouhan, Head of Research (Retail) at Kotak Securities.
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