Sensex Slips Over 150 Points, Nifty Trades Below 17,750; Tech Mahindra, IndusInd

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Sensex Slips Over 150 Points, Nifty Trades Below 17,750; Tech Mahindra, IndusInd Bank, Bajaj Finserv Top Drags

New Delhi: The Indian equity benchmarks on Thursday paused a three-day winning run and traded lower in opening deals amid weak global cues. As of 9:20 am, the benchmark BSE Sensex slipped 178 points or 0.30 per cent to 59,380, while the broader NSE Nifty moved 50 points or 0.28 per cent lower to 17,731.
Asian shares were mostly weak as Japan's Nikkei index plunged 1.11 per cent and the Shanghai Composite index fell 0.97 per cent.



Mid- and small-cap shares were in the negative zone as Nifty Midcap 100 index was down 0.54 per cent and small-cap shares were trading 0.08 per cent lower.

On the stock-specific front, Tech Mahindra was the top Nifty laggard as the stock cracked 1.26 per cent to ₹ 1,464.30. IndusInd Bank, Bajaj Finserv, Bajaj Finance and HCL Tech were also among the laggards.

In contrast, Tata Consumer Products, Titan, Asian Paints, Indian Oil Corp and BPCL were among the gainers.

On BSE, the overall market breadth was positive as 1,511 shares were advancing while 967 were declining.

On the 30-share BSE platform, HDFC, Bajaj Finserv, Bajaj Finance, HCL Tech, Tech Mahindra, Infosys and IndusInd Bank attracted the most losses with their shares sliding as much as 1.52 per cent.

Also, shares of Mahindra and Mahindra Financial Services (Mahindra Finance) fell as much as 5.18 per cent to ₹ 160.25 after posting weak third quarter numbers on a sequential basis. Mahindra Finance has a profit of ₹ 992 crore for the December 2021 quarter against ₹ 1,103 crore posted in the September 2021 quarter.

Meanwhile, Titan, GAIL India, ITC, Lupin, Aditya Birla Capital and Adani Power are among the companies which will announce their December quarter results later in the day.

Sensex had rallied 696 points or 1.18 per cent to close at 59,558 on Wednesday, while Nifty had moved 203 points or 1.16 per cent higher to settle at 17,780.

Source: https://www.ndtv.com/business/stock-market-india-sensex-slips-over-150-points-nifty-trades-below-17-750-tech-mahindra-indusind-bank-bajaj-finserv-top-drags-2746091