- Tuesday’s weak performance of benchmark indices was due to a pause in the stock market rally.
- The Nifty50 was trading below 19,400 while the S&P BSE Sensex opened at 64,926 levels, down 32 points.
- The Nifty IT and Pharma indices, on the other hand, recovered their losses and were up as much as 0.55%.
Tuesday’s weak performance of benchmark indices was due to a pause in the stock market rally. The Nifty50 was trading below 19,400 while the S&P BSE Sensex opened at 64,926 levels, down 32 points. The BSE Sensex dropped to 64,638 at one point, but it recovered some of those losses and closed down about 100 points at 64,880.
It was observed that the Nifty was testing the 19,400 mark. The BSE SmallCap and MidCap indices saw increases of 0.16% and 0.18%, respectively. The Nifty Realty index was down 0.7%, while the Nifty Bank, Media, and Private Bank indices were all down 0.35%. The majority of sectoral indices were trading with a negative bias. The Nifty IT and Pharma indices, on the other hand, recovered their losses and were up as much as 0.55%.
Sensex and Nifty
When the restrictions related to the COVID-19 pandemic end, analysts are changing or withdrawing their “remote work” policies, with companies such as Nykaa, Paytm, and Zomato owned by FSN e-Commerce Ventures focusing on long-term profitability. Considering that the asset is still in its early stages, the Tata Group may choose to hold onto it longer.
For the quarter that ended in September 2023, Meghmani Organics reported a net loss of Rs 3.60 crore. Meanwhile, Kopran reported a 196.1% increase in Q2 consolidated net at Rs 13.77 crore.
InterGlobe Aviation, the top airline operator in India, reported its fourth consecutive quarter of net profit at Rs 188 crore. Devyani International reported a 37% decline in Q2 consolidated net at Rs 35.82 crore, while GHCL reported a 51.5% drop at Rs 142.84 crore.
Businesses have been changing or withdrawing their “remote work” policies to emphasize improved employee collaboration and communication.
