At 14:28 IST, the barometer index, the S&P BSE Sensex, was down 270.9 points or 0.44% to 60,850.45. The Nifty 50 index lost 77.15 points or 0.43% to 18,068.25.
In the broader market, the S&P BSE Mid-Cap index declined 0.15% while the S&P BSE Small-Cap index rose 0.21%.
The market breadth was positive. On the BSE, 1,756 shares rose and 1,661 shares fell. A total of 147 shares were unchanged.
An unexpected rise in the US job openings data for September, dimmed hopes that the Fed would go easy on aggressive rate tightening in December ahead of the central bank's policy meeting decision later today. A 75 basis point rate hike is widely expected from U.S. Federal Reserve policymakers post the conclusion of their two-day meeting on Wednesday.
Numbers to Track:
The yield on India's 10-year benchmark federal paper rose to 7.415 as compared with 7.396 at close in the previous trading session.
In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 82.7700, compared with its close of 82.5900 during the previous trading session.
MCX Gold futures for 5 December 2022 settlement added 0.47% to Rs 50,737.
The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.29% to 111.16.
The United States 10-year bond yield rose 0.07% to 4.055.
In the commodities market, Brent crude for January 2023 settlement gained 34 cents or 0.36% at $94.99 a barrel.
Buzzing Index:
The Nifty Media index rose 1.34% to 2,084.35. The index has declined 0.27% in the previous trading session.
Among the components of the Nifty Media index, Sun TV Network (up 3.66%), Dish TV India (up 1.28%), Network 18 Media & Investments (up 1.03%), Zee Entertainment Enterprises (up 0.95%), Inox Leisure (up 0.4%) PVR (up 0.38%), Saregama India (up 0.37%) and TV18 Broadcast (up 0.29%) were the top gainers.
On the other hand, Nazara Technologies (down 0.72%) declined.
Stocks in Spotlight:
Grindwell Norton advanced 1.23% after the company reported 25% rise in consolidated net profit to Rs 90.06 crore on a 24% increase in revenue from operations to Rs 634.66 crore in Q2 FY23 over Q2 FY22. The Abrasives segment recorded revenues of Rs 319.04 crore (up 4% YoY), Cermaics & Plastics revenue was Rs 272.57 crore (up 65% YoY), IT Services revenue was Rs 36.45 crore (up 9% YoY) and Others revenue was Rs 16.50 crore (up 90% YoY) in the second quarter.
Prudent Corporate Advisory Services surged 13.38% after the company's consolidated net profit soared 41.1% to Rs 27.60 crore on a 36.7% jump in total income to Rs 148.80 crore in Q2 FY23 over Q2 FY22. The company said that the PAT growth was lower than operating profit growth, led by higher depreciation due to the amortisation of payment for acquiring mutual fund (MF) assets of Karvy in November 2021 & lower other income.
Chambal Fertilisers & Chemicals slipped 6.09% after the company posted a 45.8% fall in consolidated net profit to Rs 274.27 crore in Q2 FY23 from Rs 505.92 crore posted in Q2 FY22. Revenue from operations jumped 91.7% to Rs 8,586.75 crore in Q2 FY23 as against Rs 4,478.61 crore posted in the same quarter last year. Consolidated profit before tax declined 45% year on year to Rs 404.20 crore in the quarter ended 30 September 2022.
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