MARKET UPDATE: Sensex declined 600 points to the day's low of 59,543 while the Nifty50 slipped below 17,800 level, down 130 points
Published On: Friday, January 27, 2023 | By: Team KnowMyStock
Indian equity markets extended weakness today(27 January 2023), after over a percent decline on Wednesday. The S&P BSE Sensex declined 600 points to the day's low of 59,543 in early deals dragged by Reliance, HDFC twins, and ICICI Bank. The NSE Nifty50 slipped below the 17,800 level, down 130 points. The BSE MidCap and SmallCap indices lost 0.6 percent and 0.9 percent in the broader markets, respectively.
Among individual stocks, Tata Motors surged 7 per cent as the company posted a consolidated net profit of Rs 3,043 crore in Q3FY23, after clocking losses for seven straight quarters. This came on the back of a strong order book, better semiconductor chip supply, tempered commodity prices, and a better product mix.
Meanwhile, shares of Adani Enterprises slumped 5 per cent amid the ongoing controversy with Hindenburg Research. For now, the US-based activist investor has said it stands by its report and shall demand company documents in the US courts. The said statement came after Adani Group said it was examining legal action against Hindenburg. Other group stocks like Adani Ports, Adani Wilmar, and Adani Total Gas tanked up to 17 per cent.
We are on Telegram!
JOIN our telegram channel to receive updates on Financial News and Stock and FNO Tips.
Click Here!
Follow Us On:
