The domestic equity barometers traded with moderate losses in the morning trade. Domestic sentiment was dented amid negative global cues. The Nifty traded below the 17,480 mark. Pharma, FMCG and IT shares were in demand while consumer durables, bank and auto stocks witnessed a bit of a selling pressure.
At 10:30 IST, the barometer index, the S&P BSE Sensex, was down 185.4 points or 0.31% to 58,921.79 . The Nifty 50 index declined 47.70 points or 0.27% to 17,464.55.
In the broader market, the S&P BSE Mid-Cap index fell 0.75% while the S&P BSE Small-Cap index shed 0.24%.
The market breadth was negative. On the BSE, 1,404 shares rose and 1,654 shares fell. A total of 149 shares were unchanged.
Foreign portfolio investors (FPIs) sold shares worth Rs 453.91 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 908.42 crore in the Indian equity market on 19 October, provisional data showed.
Earning Today:
ITC (down 0.19%), Asian Paints (up 0.10%), Axis Bank (down 0.77%), Bajaj Finance (down 1.20%), Tata Consumer Products (down 0.24%), Colgate Palmolive (up 1.33%), Aarti Drugs (down 0.03%), Canara Bank (down 3.62%), Central Bank of India (up 1.33%), Clean Science and Technology (up 0.67%), Coforge (up 0.08%), Dixon Technologies (down 0.60%), Happiest Minds Technologies (up 0.39%), ICRA (down 0.22%), Indian Energy Exchange (down 0.89%), ICICI Securities (up 0.29%), L&T Finance Holdings (down 0.81%), Mphasis (up 0.12%), Nazara Technologies (down 0.18%), Shriram Transport Finance (up 0.14%), Symphony (up 1.21%), Tanla Platforms (up 0.82%), United Breweries (up 0.46%), Union Bank of India (down 0.65%), and UTI Asset Management Company (down 1.99%) will announce their quarterly earnings later today.
New Listing:
Shares of Tracxn Technologies were trading at Rs 93.75 at 10:21 IST on the BSE, representing a premium of 17.19% as compared to the issue price of Rs 80.
The scrip was listed at a price of Rs 83, at a premium of 3.75% as compared to the issue price.
So far, the stock has hit a high of 99.60 and a low of 83. On the BSE, over 13.71 lakh shares of the company were traded in the counter so far.
The issue was subscribed 2.01 times.
Buzzing Index:
The Nifty Consumer Durables index declined 1.36% to 26,497.80. The index shed 0.13% in the past trading session.
Havells India (down 3.4%), Titan Company (down 1.95%), Voltas (down 1.63%), Kajaria Ceramics (down 1.54%), Amber Enterprises India (down 1.08%), Crompton Greaves Consumer Electricals (down 1.05%), Bata India (down 0.77%), V-Guard Industries (down 0.77%), Rajesh Exports (down 0.5%) and Dixon Technologies (India) (down 0.48%) edged lower.
On the other hand, TTK Prestige (up 0.66%), Relaxo Footwears (up 0.34%) and Blue Star (up 0.11%) advanced.
Stocks in Spotlight:
IndusInd Bank slipped 3.90%. The private lender reported 60.5% rise in standalone net profit to Rs 1,786.72 crore on a 12.9% increase in total income to Rs 10,718.85 crore in Q2 FY23 over Q2 FY22.
Cravatex hit an upper circuit limit of 20% after footwear retail chain Metro Brands has signed a share purchase agreement to acquire Cravatex Brands to expand its presence in the sports and athleisure space in India. The total consideration payable is based on the enterprise value of CBL, i.e., Rs 202.17 crore, subject to the terms and conditions and adjustments (based on the outstanding debt of CBL as on the completion date) set out in the SPA.
Glenmark Pharmaceuticals rose 0.89% after the pharma company said that it has become the first company in India to launch Teneligliptin + Dapagliflozin fixed dose combination (FDC) for adults with type-2 diabetes, having comorbidities. Marketed under the brand name Zita D; it contains Teneligliptin (20mg) + Dapagliflozin (5 mg/10 mg), and must be taken once daily under prescription to improve glycemic control & prevent complications in adult patients with type 2 diabetes, especially the ones with comorbidities.
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