Key indices extended losses in morning trade on fresh selling pressure in index pivotals. The Nifty slipped below 17,900. Barring metal index, all sectoral indices on the NSE traded in the red.
At 10:28 IST, the barometer index, the S&P BSE Sensex, declined 544.36 points or 0.9% to 59,808.46. The Nifty 50 index fell 158.75 points or 0.88% to 17,858.70.
In the broader market, the S&P BSE Mid-Cap index lost 0.59% while the S&P BSE Small-Cap index fell 0.44%.
The market breadth turned negative. On the BSE, 1394 shares rose and 1595 shares fell. A total of 138 shares were unchanged.
Results Today:
Tata Steel (up 0.7%), Balkrishna Industries (up 0.47%), Bharat Dynamics (up 0.19%), Engineers India (up 0.07%), Godrej Consumer Products (down 1.89%), Natco Pharma (down 1.07%), NMDC (up 0.42%), Power Finance Corporation (down 0.18%), Prestige Estates Projects (down 1.38%), RailTel Corporation (down 0.38%), Suryoday Small Finance Bank (up 0.53%) and Zee Entertainment Enterprises (down 0.24%) are some of the companies that will announce their quarterly results today.
Buzzing Index:
The Nifty IT index was down 1.31% to 35,254.35, falling for second trading session. The IT index has now lost 1.57% in two days.
Tech Mahindra (down 2.38%), Mindtree (down 1.65%), Infosys (down 1.55%), Wipro (down 1.53%), Coforge (down 1.34%), Mphasis (down 1.32%) and HCL Technologies (down 1.09%) were top losers in IT space.
Earnings Impact:
Pidilite Industries rose 3.58% to Rs 2450.30 after the adhesives maker recorded 5% rise in consolidated net profit to Rs 376 crore on a 41% increase in net sales to Rs 2,613 crore in Q2 FY22 over Q2 FY21. EBITDA before non-operating income in the second quarter was at Rs 550 crore, up by 7% over the same quarter last year. Profit before tax and exceptional items (PBT) in Q2 FY22 was at Rs 492 crore, higher by 3% as compared with the same quarter last year.
Zomato gained 3.5%. On a consolidated basis, the company reported a net loss of Rs 434.90 crore in Q2 FY22 as compared to a net loss of Rs 229.80 crore in Q2 FY21. Consolidated net sales surged 140.40% to Rs 1,024.20 crore in Q2 FY22 over Q2 FY21.
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