Indices trade with small losses; breadth positive

Equity indices traded sideways with tiny losses in morning trade. The Nifty hovered below the 17,950 level. Auto, realty and FMCG stocks advanced while IT shares corrected for the second day.

At 10:26 IST, the barometer index, the S&P BSE Sensex, was down 78.42 points or 0.13% at 60,057.16. The Nifty 50 index fell 18.8 points or 0.1% to 17,927.25.

The broader market traded with gains. The S&P BSE Mid-Cap index rose 0.25% while the S&P BSE Small-Cap index gained 0.28%.

The market breadth, indicating the overall health of the market, was positive. On the BSE, 1679 shares rose and 1341 shares fell. A total of 153 shares were unchanged.

Results Today:

Bhansali Engineering Polymer (down 0.05%), GM Breweries (up 4.39%) and JTL Infra (up 1.16%) will announce their quarterly results today.

Buzzing Index:

The Nifty Auto index added 1.09% to 11,499.75, rising for fourth trading session. The auto index has now rallied 8.9% in four trading days.

Bajaj Auto (up 3.23%), TVS Motor Company (up 3.06%), Tata Motors (up 2.32%), Hero MotoCorp (up 2.24%), Eicher Motors (up 1.77%) and Escorts (up 1.47%) were top gainers in auto segment.

Earnings Impact:

Krsnaa Diagnostics fell 6.43% to Rs 750.15 after the company's net profit declined 44.56% to Rs 12.54 crore on 27.9% decline in net sales to Rs 108.26 crore in Q2 FY22 over Q2 FY21.

Tata Metaliks tumbled 5.51% to Rs 1073 after the company's net profit declined by 33.4% to Rs 54.62 crore in Q2 FY22 from Rs 82 crore in Q2 FY21. Revenue from operations, however, rose by 24.1% YoY to Rs 644.84 crore during the quarter. Total expenses increased by 31.4% to Rs 566.95 crore in Q2 FY22 over Q2 FY21, due to a sharp rise in raw material costs (up 51.5% YoY). Profit before tax in the second quarter stood at Rs 81.01 crore, down by 10.2% from Rs 90.21 crore recorded in the same period last year.

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