Benchmarks trade with small losses; Nifty below 18,350

The key equity indices continued to trade with small losses in the early afternoon trade. The Nifty traded below the 18,350 mark. FMCG shares decline for the fourth day.

At 12:28 IST, the barometer index, the S&P BSE Sensex, was down 71.61 points or 0.12% to 61,552.54. The Nifty 50 index lost 8.75 points or 0.05% to 18,320.40.

In the broader market, the S&P BSE Mid-Cap index shed 0.04% while the S&P BSE Small-Cap index slipped 0.01%.

The market breadth was negative. On the BSE, 1,570 shares rose, and 1,847 shares fell. A total of 132 shares were unchanged.

Derivatives:

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, fell 0.08% to 14.8975. The Nifty 24 November 2022 futures were trading at 18,403, at a premium of 63 points as compared with the spot at 18,383.

The Nifty option chain for the 24 November 2022 expiry showed maximum Call OI of 32.2 lakh contracts at the 19,000 strike price. Maximum Put OI of 34 lakh contracts were seen at 18,000 strike price.

Buzzing Index:

The Nifty FMCG index declined 0.55% to 43,679.10. The index advanced 2.56% in four trading sessions.

Among the components of the Nifty FMCG index, Radico Khaitan (down 2.98%), Emami (down 1.9%), Dabur India (down 1.82%), ITC (down 1.53%), Nestle India (down 0.82%), United Breweries (down 0.66%), Procter & Gamble Hygiene and Health Care (down 0.66%), Marico (down 0.42%) and Tata Consumer Products (down 0.33%) were the top losers.

On the other hand, Varun Beverages (up 2.14%),United Spirits (up 1.92%) and Britannia Industries (up 1.05%) edged higher.

Earnings Impact:

Dilip Buildcon rose 1.10% to after the company reported standalone net profit of Rs 64.15 crore in Q1 FY23 as against a net loss of Rs 19.31 crore in Q2 FY22. Revenue from operations rose 4.91% to Rs 2,261.93 crore in the second quarter as against Rs 2,156.10 crore recorded in the same period last year.

Oil and Natural Gas Corporation (ONGC) rose 2.33%. The PSU company's standalone net profit dropped 30.09% to Rs 12,825.99 crore in Q2 FY23 as against Rs 18,347.73 crore in Q2 FY22. Revenue from operations surged 57.53% to Rs 38,320.76 crore in quarter ended 30 September 2022 from Rs 24,353.61 crore recorded in the corresponding quarter previous year.

Greaves Cotton jumped 4.03% after the company reported consolidated net profit of Rs 28.88 crore in Q2 FY23 as against net loss of Rs 23.39 crore in Q2 FY22. Revenue from operations climbed 87.09% to Rs 698.81 crore in Q2 FY23 compared with Rs 373.51 crore in Q2 FY22.

Powered by Capital Market - Live News