Ashish Ranjan
Sensex opens with tepid trade: The major indices of domestic markets opened in the red for the third consecutive session this week, as financial equities lagged. Following weak global indications, market indices traded flat in the morning.
The BSE Sensex fell 79 points to 59,647.56, while the NSE Nifty fell 25 points to 17,634.95. Mahindra & Mahindra, Tata Steel, Eicher Motors, Hindalco, and Larsen & Toubro were among the top Nifty 50 gainers, while ONGC, Hindustan Unilever, Apollo Hospital, Infosys, and Asian Paints were among the worst performers.
On Wednesday morning, Japan’s Nikkei fell 91 points, Hong Kong’s Hang Seng fell 130 points, and China’s Shanghai traded in the red.Tuesday’s closing bell saw the Dow Jones decline 10 points, while Nasdaq, NYSE, and S&P were all trading in the positive territory.
BEL, CAC, and Deutsche were trading in the positive territory on European markets, while FTSE 100 gained 29 points and Madrid SE was also trading in the positive territory.”ICICI Bank is anticipated to have the best performance among the results expected this week. HCL Tech is unlike Infosys to disappoint. RIL’s results will be favorable, but the market will not be surprised.
Investors should closely monitor results that exceed expectations and management commentary that is optimistic. According to V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, these equities will remain resilient even in a weak market.
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On the BSE, Bank of India shares rose 1.51% to Rs 81.99. The lender’s board of directors approved raising up to Rs 6,500 crore in capital for fiscal year 2023-24 (FY24). In a separate development, shares of Piramal Pharma rose 7.71 percent to Rs 77.40 after the FDA completed its inspection of the company’s manufacturing facility in Sellersville, Pennsylvania.
