Shares hit fresh intraday low; broader markets outperform

The domestic equity barometers hit fresh intraday low in mid afternoon trade. The Nifty was trading below the 17,900 mark.

At 14:22 IST, the barometer index, the S&P BSE Sensex, was down 120.94 points or 0.20% to 60,017.52. The Nifty 50 index lost 36 points or 0.20% to 17,893.65.

The broader indices outperformed the benchmarks. The S&P BSE Mid-Cap index rose 0.51%. The S&P BSE Small-Cap index gained 1.04%.

Buyers outpaced sellers. On the BSE, 1906 shares rose and 1279 shares fell. A total of 166 shares were unchanged.

Numbers to Track:

MCX Gold futures for 3 December 2021 settlement fell 0.25% to Rs 47,781.

The yield on India's 10-year benchmark federal paper fell to 6.358% as compared with its previous closing of 6.387%.

In the commodities market, Brent crude for December 2021 settlement rose 39 cents or 0.46% to $85.10 a barrel.

In the foreign exchange market, the partially convertible rupee rose to 74.7900 from its previous closing of 74.8750.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.02% to 93.89.

Stocks in Spotlight:

Hindustan Petroleum Corporation (HPCL) lost 1.94% to Rs 305.95 after the PSU oil marketing company's standalone net profit declined by 22.3% to Rs 1,923.5 crore in Q2 FY22 from Rs 2477.45 crore in Q2 FY21. Revenue from operations surged 60.6% to Rs 82,774.69 crore in Q2 FY22 from Rs 51,511 crore in Q2 FY21.

Procter & Gamble Hygiene & Health Care (PGHH) shed 0.23% to Rs 14400.05. The company posted a 14% year on year decline in net profit to Rs 218.29 crore in Q1 September 2021 over Q1 September 2020. Profitability was impacted due to commodity cost inflation and lower marketing investments in the corresponding quarter of 2020. The FMCG company reported a 5% increase in net sales to Rs 1,058 crore on the back of superior strategy, robust product portfolio and strong retail execution.

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