MARKET UPDATE: Sensex at 60,133 levels, down 220 points and Nifty down 75 points at 17,942 levels
Published On: Thursday, November 11, 2021 | By: Team KnowMyStock
Indian benchmark indices started lower for the third straight day today(11th Nov.2021) amid tepid global cues. The BSE Sensex was quoting at 60,133 levels, down 220 points or 0.36 percent, in early deals dragged by Tech M, HDFC, ICICI Bank, HCL Tech, M&M, and Axis Bank. On the upside, Titan Company, Maruti Suzuki, Tata Steel, L&T, and NTPC were lending some support. All these stocks were up in the range of 0.2 percent and 1.7 percent. Its NSE counterpart, Nifty50, was down 75 points at 17,942 levels. In the broader markets, the BSE MidCap and SmallCap indices gained 0.05 percent and 0.17 percent, respectively. Among individual stocks, shares of Zomato surged 5 percent in the intra-day trade on the BSE after the company said it will invest $50 million in e-commerce start-up Magicpin for a 16 percent stake as part of the total funding round size of $60 million.
Those of YES Bank, meanwhile, gained 2 per cent after rating agency Moody’s upgraded private sector lender’s long-term foreign currency issuer rating from "B3" to "B2".
Birla Corp shares, on the downside, tanked 5 per cent after the company reported a consolidated net profit of Rs 85.5 crore during the September quarter of FY22 , down 49 per cent year-on-year (YoY) from Rs 166 crore last year, on the back of extended monsoon and a surge in its expenses.
Sectorally, only the Nifty Metal, Media, and PSB indices were trading in the green, rising up to 0.5 per cent. Among the losers, the Nifty Bank, Private Bank, IT, Pharma, and Financial Services indices declined 0.6 per cent each.
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