The key equity indices extended early losses in morning trade. The Nifty was trading below the 17,450 mark. Auto shares declined for the second consecutive session.
At 10:23 IST, the barometer index, the S&P BSE Sensex, was down 281.71 points or 0.48% to 58,363.11. The Nifty 50 index lost 98.20 points or 0.56% to 17,418.10.
In the broader market, the S&P BSE Mid-Cap index declined 0.55% while the S&P BSE Small-Cap index fell 0.21%.
The market breadth was almost even. On the BSE, 1,601 shares rose and 1,571 shares fell. A total of 166 shares were unchanged.
The Reserve Bank of India's Monetary Policy Committee will meet on February 8-10 instead of February 7-9, the central bank said on February 6. The change in the committee's meeting schedule comes after February 7 was declared as public holiday by the Maharashtra state government following the demise of renowned singer Lata Mangeshkar.
COVID-19 Update:
India added 83,876 new cases in the last 24 hours. The daily positivity rate stood at 7.25%. The country's active caseload currently stood at 11,08,938.
Results Today:
TVS Motor Company (up 0.78%), The Phoenix Mills (up 1.67%), National Aluminium Co. (up 0.21%), PB Fintech (up 0.63%), Minda Industries (down 1.45%), Indian Bank (up 3.89%), Jindal Stainless (up 1.55%), Clean Science and Technology (down 1.34%), Glaxosmithkline Pharmaceuticals (up 0.88%), Castrol India (up 0.82%), Union Bank Of India (up 3.96%), JM Financial (up 0.34%), KPR Mill (up 0.24%), Tube Investments of India (up 0.61%) and Butterfly Gandhimathi Appliances (up 4.74%) are some of the companies that will announce their quarter earnings today.
Buzzing Index:
The Nifty Auto index fell 0.78% to 11,470.50, extending decline for second day. The index has lost 1.82% in two sessions.
Bajaj Auto (down 1.61%), Hero MotoCorp (down 1.48%), Bharat Forge (down 1.39%), Eicher Motors (down 1%), Mahindra & Mahindra (down 0.99%), Tata Motors (down 0.52%), Maruti Suzuki (down 0.38%) declined while Ashok Leyland advanced 0.18%.
Stocks in Spotlight:
Bank of Baroda jumped 9.10% to Rs 116.30. The bank reported 107.17% rise in net profit to Rs 2197 crore on 14.38% rise in net interest income to Rs 8552 crore in Q3 FY22 over Q3 F21.
Siemens fell 2.62% to Rs 2358.65. Revenue from continuing operations in Q1 FY22 was Rs 3,197 crore, a 11.8 % increase over the same quarter in the preceding year. Profit after Tax from continuing operations was Rs. 245 crore, decreased by 6.5% over the same period last year.
FDC surged 6.43% to Rs 313.50. The company has scheduled a board meeting on February 9 to consider the proposal for buyback of shares.
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