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India’s stock benchmarks declined, dragged by losses in energy, information technology stocks.
The S&P BSE Sensex fell 0.75% to 59,650.34. The 30-stock gauge shed over 1% in intraday trade for the third day in a row. The NSE Nifty 50 also declined by similar magnitude to 17,819.75. Bajaj Auto Ltd. had the largest drop, falling 3.4%. In midday trading, 28 of 50 shares fell, while 22 rose
Shares of Tata Consumer Products Ltd. rose 4%, the biggest intraday gain in four sessions, to Rs 746.25 apiece after Morgan Stanley upgraded the stock to ‘overweight’ from ‘under-weight’.
Shares of Ceat Ltd. fell 7.60%, the steepest intraday decline in nearly three months to Rs 1,048.95 apiece after the company reported a net loss for the third quarter.
Stock Market: “There is a distinct bearish trend in the mother market of the US. Nasdaq is 10.7% down from its 2021 November highs and Russel 2000 is at 52 week lows. This need not translate into a similar trend in India too.
Shares of Tata Elxsi Ltd. rose as much as 4.83% to Rs 7,314.1 apiece. The stock has risen nearly 14% over the last two sessions. The …
Nifty 50 index opened flattish on Wednesday and cascaded down to 17884 levels. It slipped throughout the day with slight recovery in the last hour and …
India Energy Exchange on Wednesday announced divesting 4.93 per cent equity stake to India’s largest oil company Indian Oil Corporation. IEX chairman and managing director SN Goel said that the move augurs well in the joint endeavour to build the gas market in India and is aligned with the government’s vision of accelerating the share of gas in the energy mix to 15 per cent by 2030.