The headline equity indices were trading lower in early trade on a selling pressure in index pivotals. Domestic sentiment was dented amid negative global cues. The Nifty traded below 18,300 level. All the sectoral indices on the NSE were in the red with IT, FMCG and auto stocks declining the most.
At 09:29 IST, the barometer index, the S&P BSE Sensex, was down 410.22 points or 0.66% to 61,395.97. The Nifty 50 index declined 139.40 points or 0.76% to 18,295.35.
In the broader market, the S&P BSE Mid-Cap index slipped 0.46% while the S&P BSE Small-Cap index shed 0.05%.
The market breadth was positive. On the BSE, 1,417 shares rose and 1,302 shares fell. A total of 97 shares were unchanged.
Foreign portfolio investors (FPIs) sold shares worth Rs 538.10 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 687.38 crore in the Indian equity market on 19 December, provisional data showed.
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Housing Development Finance Corporation (HDFC) shed 0.57%. HDFC announced increase in its Retail Prime Lending Rate (RPLR) on Housing loans, on which its Adjustable Rate Home Loans (ARHL) are benchmarked, by 35 basis points, with effect from 20 December 2022.
Dabur India fell 2.56%. Promoters are reportedly likely to sell shares worth Rs 800 crore via block deals today.
IRB Infrastructure Developers gained 2.46%. A meeting of the board of directors of the company is scheduled to be held on 4 January 2023, to consider, a proposal for of sub-division/split of existing equity shares.
NBCC (India) advanced 2.54%. The civil construction company has been awarded with the work of 'Construction of new multistoried quarter complex consisting of 100 nos. of quarters by demolishing the existing 224 nos. quarters at Bhoinager, Bhubaneswar' by Odisha Power Transmission Corporation Limited (OPTCL) for a total value of Rs. 69.3 crore (Exclusive of GST).
Just Dial declined 1.81%. The company said that Reliance Retail Ventures Limited (RRVL), the promoter of the company intends to sell equity shares of the company for the purpose of complying with the requirements of minimum public shareholding. RRVL shall be undertaking a sale of 16,86,119 equity shares constituting 2.00% of the total paid-up equity share capital of the company. RRVL intends to complete the sale of the shares within a period of 8 trading days beginning 21 December 2022.
Ipca Laboratories shed 0.12%. The pharmaceutical company has acquired further 6.53% of the paid-up equity share capital of M/s. Trophic Wellness Private Ltd. (TWPL), a company engaged in the business of manufacturing and marketing several SKUs of Neutraceuticals under the brand name Nutricharge
Global Markets:
Asian stocks declined across the board on Tuesday as the People's Bank of China kept its key lending rates steady, in line with expectations. The People's Bank of China maintained its one-year loan prime rate at 3.65% and its five-year loan prime rate at 4.30%.
Investors are awaiting the Bank of Japan (BOJ)'s monetary decision. As per reports, the BOJ is expected to maintain its ultra-dovish monetary policy stance.
US stocks closed lower on Monday for a fourth straight session as investors shied away from riskier bets, worried the Federal Reserve's tightening campaign could push the US economy into a recession.
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