MARKET UPDATE: Sensex at 60,484 levels down 263 points, while the Nifty50 hovering around 18,028, down 71 points
Published On: Tuesday, January 10, 2023 | By: Team KnowMyStock
Opening bell: Equity markets in India began on shaky ground today(10 January 2023) as stock-specific action, amid December quarter results, and mixed global trends swayed sentiment. The S&P BSE Sensex was at 60,484 levels in early deals, down 263 points, while the Nifty50 was hovering around 18,028, down 71 points. Both benchmarks were trading 0.4 percent lower. In the broader market, the BSE MidCap and SmallCap indices were flat with negative bias.
Sector-wise, the Nifty IT index fell over 1 per cent, followed by the Nifty PSU Bank index (down 0.9 per cent). On the upside, the Nifty Metal index gained 0.8 per cent, while the Nifty Auto added 0.6 per cent.
Among individual stocks, shares of TCS (Tata Consultancy Services) dropped over 2 per cent on mixed December quarter results. TCS reported 11 per cent year-on-year (YoY) growth in net profit, and revenue for the quarter came in at Rs 58,229 crore, up 19.1 per cent YoY in reported terms and 13.5 per cent YoY in constant currency terms.
In addition, Tata Motors' shares surged 5 per cent. The retail sales of automaker Jaguar Land Rover rose 5.9 per cent YoY in Q3FY23 reflecting a "gradual improvement in chip supplies". CLSA has upgraded the stock to 'buy'.
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