MARKET UPDATE: Sensex fell 300 points to 54,177, while Nifty slipped 82 points to 16,138
Published On: Monday, July 11, 2022 | By: Team KnowMyStock
The Indian markets opened weak today(11 July 2022) tracking subdued global sentiment. To add to the pressure, IT giant TCS fell 3 percent as investors reacted to the company's soft Q1FY23 earnings. The BSE Sensex fell 300 points to 54,177, and the NSE Nifty50 slipped 82 points to 16,138. On the Sensex, all other IT companies also suffered losses with Infosys, HCL Tech, Wipro, and Tech M falling 1-2 percent. Bharti Airtel was the top loser, dipping 4 percent after the Adani group announced its plan to participate in the 5G spectrum auction to create the group’s own private networks and support its businesses.
On the downside, NTPC, ONGC, Power Grid, Coal India, Axis Bank and ICICI Bank were the top winners across the two benchmarks.
The broader markets, meanwhile, opened flat.The BSE MidCap and SmallCap indices were muted.
Nifty IT plunged 3 per cent weighed due to TCS numbers. Nifty metals, pharma were also in red. While Nifty Bank and Auto packs held nominal gains.
Among other stocks, Avenue Supermarts rose 2.7 per cent. The company reported an over six-fold jump in its consolidated net profit to Rs 642.89 crore in Q1FY23.
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