The key equity barometers continued to trade with modest losses in morning trade. Domestic sentiment was dented amid negative global cues. The Nifty hovered below 18,050 mark. Pharma, healthcare and media stocks rose while auto, consumer durables and PSU bank shares witnessed a bit of selling pressure.
At 10:30 IST, the barometer index, the S&P BSE Sensex, was down 414.86 points or 0.68% to 60,618.69. The Nifty 50 index lost 118.65 points or 0.65% to 18,038.35.
In the broader market, the S&P BSE Mid-Cap index fell 0.62% while the S&P BSE Small-Cap index shed 0.54%.
The market breadth was negative. On the BSE, 1,361 shares rose and 1,794 shares fell. A total of 149 shares were unchanged.
Foreign portfolio investors (FPIs) bought shares worth Rs 386.83 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 1,060.12 crore in the Indian equity market on 9 November, provisional data showed.
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Investors looked ahead to the US consumer price inflation report due on Thursday. The inflation data would give clues about how much the U.S. Federal Reserve's rapid interest rate hikes are helping in cooling down the economy.
Earnings Today:
Eicher Motors (down 1.38%), Zomato (up 0.08%), Adani Green Energy (down 1.09%), Apollo Hospitals Enterprise (down 1.12%), Ashok Leyland (down 0.74%), Aster DM Healthcare (down 1.68%), Bata India (down 1.73%), Mrs. Bectors Food Specialities (down 1.27%), Berger Paints India (down 1.21%), Campus Activewear (down 0.58%), Container Corporation of India (up 0.09%), Gujarat State Petronet (up 1.04%), Gujarat Gas (up 0.80%), Indian Hotels (up 0.41%), Jindal Steel & Power (down 1.02%), Kalpataru Power Transmission (down 0.08%), Kalyan Jewellers India(up 1.17%), Linde India (up 0.24%), Mazagon Dock Shipbuilders (down 1.40%), Muthoot Finance (down 0.35%), NHPC (down 0.11%), Oil India (up 0.08%), Page Industries (down 1.18%), Power Finance Corporation (down 1.14%), RITES (down 1%), Steel Authority Of India (SAIL) (down 0.35%), Suzlon Energy (up 0.61%), Torrent Power (up 0.39%), and Trent (down 1.71%) will announce their quarterly earnings today.
Buzzing Index:
The Nifty Auto index declined 1.64% to 13,122.65. The index fell 2.39% in two trading sessions.
Tube Investments of India (down 5.35%), Tata Motors (down 4.25%), Mahindra & Mahindra (down 2.94%), Balkrishna Industries (down 1.48%), TVS Motor Company (down 1.45%), Eicher Motors (down 1.16%), Maruti Suzuki India (down 1.04%), Sona BLW Precision Forgings (down 0.86%), Ashok Leyland (down 0.64%) and Bosch (down 0.61%) declined.
On the other hand, Hero MotoCorp (up 0.61%) ,Bharat Forge (up 0.53%) and Samvardhana Motherson International (up 0.22%) edged higher.
Tata Motors slipped 4.25%. The auto major reported a consolidated net loss of Rs 944.61 crore in Q2 FY23 as against a net loss of Rs 4,441.57 crore in Q2 FY22. Revenue from operations increased 29.7% YoY to Rs 79,611.37 crore during the quarter ended 30 September 2022.
Results Impact:
Deepak Nitrite tumbled 8.52% after the specialty chemical maker's consolidated net profit declined 31.4% to Rs 174.47 crore despite of a 16.7% rise in net sales to Rs 1,961.65 crore in Q2 FY23 over Q2 FY22.
Lupin jumped 5.04% after the company reported a consolidated net profit of Rs 129.7 crore in Q2 FY23 as against a net loss of Rs 2,098 crore recorded in Q2 FY22. Sales rose by 2.2% YoY to Rs 4,091.2 crore during the quarter. While Total Formulations revenue rose by 2.8% to Rs 3,841.3 crore, API revenue declined by 6.7% to Rs 249.9 crore in Q2 FY23.
Narayana Hrudayalaya rallied 4.28% after the healthcare player's consolidated net profit stood at Rs 168.9 crore in Q2 FY23, translating into YoY growth of 69.9% and QoQ growth of 52.6% respectively. Consolidated total operating income was Rs 1141.60 crore for Q2 FY23 as against Rs 940.70 crore in the corresponding period of the previous year, reflecting an increase of 21.4% YoY and 10.5% QoQ respectively.
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