MARKET UPDATE:Sensex down 270 points at 47,812 levels and Nifty hovering below 14,350 levels
Published On: Friday, April 23, 2021 | By: Team KnowMyStock
Equity markets in India were under pressure today(23rd April 2021) amid muted investment sentiment across Asian markets and on a record single-day spike of over 3 lakh Covid-19 cases for the second consecutive day. Among the headline indices, the S&P BSE Sensex was at 47,812 levels in early deals, down 270 points or 0.56 percent. On the NSE, the Nifty50 was hovering below 14,350 levels. Power Grid was the top gainer on the Nifty, up 4 percent, followed by Tata Steel, SBI Life, Dr. Reddy's Labs, and Asian Paints. On the downside, Wipro, ICICI Bank, Bajaj Finance, Hero MotoCorp, and State Bank of India were the top laggards in morning deals. In the broader markets, the S&P BSE MidCap index was up 0.59 percent while the S&P BSE SmallCap index gained 0.72 percent. Sectorally, only Nifty Metal, Pharma, and Media indices were trading in the green, up between 0.3 percent and 1 percent. On the contrary, the Nifty Financial Services index slipped 0.7 percent.
HCL Technologies, M&M Financial Services, and Indiabulls Real Estate are among the 16 companies scheduled to report their March quarter results today.
Contribution from DWS Limited - a leading Australian IT, business and management consulting firm that HCL Tech acquired recently - demand in areas of digital foundation projects and improving traction in ER&D segment should aid HCL Tech's March quarter performance. However, on account of a one-time bonus impact, the IT company's March quarter profit after tax (PAT) is expected to plummet between 26-31 per cent quarter-on-quarter (QoQ), according to analysts.
Tags: Indian equity market Sensex Nifty
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