MARKET UPDATE: Sensex lower by 444 points at 59,114, and Nifty at 17,645, down 134 points
Published On: Thursday, February 3, 2022 | By: Team KnowMyStock
The Indian benchmark indices extended losses in noon trade and were now down up to 0.7 percent today(3rd February 2022). The BSE Sensex was lower by 444 points at 59,114, and the NSE Nifty was 17,645, down 134 points. HDFC slipped further and was trading 3 percent lower, followed by L&T, Kotak Bank Infosys, Tech M, HUL, Bajaj Finance, IndusInd Bank, RIL, and Dr. Reddy's, all trading 1-2 percent lower. In the broader markets, the SmallCap index had trimmed gains and was down 0.1 percent, while the MidCap index was 0.6 percent lower. The top losers on the index included M&M finance, Godrej Properties, Supreme Ind, Muthoot Finance, Mindtree, Varun Beverages, and InfoEdge, trading 2-6 percent lower. Sectorally, auto shares continued to trade higher, while Financials and IT continued to be top laggards, down nearly 1 percent each.
Individually, shares of Triveni Engineering hit a new high of Rs 285.30, on rallying 9 per cent on strong earnings. The stock has zoomed 313 per cent from its 52-week low level of Rs 69 touched on February 16, 2021.
Information technology (IT) sector stocks have been on a downward spiral thus far in 2022 with the Nifty IT index slipping over 7 per cent on the NSE. This, analysts believe, is on account of rising employee costs at a time the business growth has been modest.
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