- Stock Markets on Monday: FII selling, US market corrections remain a pain point for domestic equities; Anil Singhvi gives trigge
- Even as US markets fell, Nasdaq gets into deeper correction; sees 10% drop from November highs and worst week since 2020
- ICICI Bank Q3FY22 net profit rises 19% to Rs 6,536 cr
- Budget 2022 Expectations: USD14 bn warehousing industry ready with its wishlist ahead of budget
- Mutual Fund in 2021: Equity outperforms Fixed Deposit, gold loses sheen while debt schemes least favoured by millennials
Sensex, Nifty drop marginally; ITC, Tata Steel in focus
Domestic markets on Tuesday opened marginally down amid weak global cues.
Domestic markets on Tuesday opened marginally down amid weak global cues. At 0936 hours Sensex was trading at 28,414.82, down 24.46 points or 0.09%, while Nifty was at 8,784.70, down 16.35 points or 0.19%.
The markets are likely to remain cautious today ahead of the Reserve Bank of India's monetary policy review which will be announced on Wednesday.
On 30-share benchmark, among top gainers were Sun Pharmaceuticals (1.27%), ITC (0.94%), Lupin (0.82%), Gail (0.66%) and Tata Steel (0.65%). Among top losers were Tata Motors (-1.10%), ICICI Bank (-0.86%), ONGC (-0.75%), Mahindra & Mahindra (-0.69%) and Adani Ports (-0.55%).
After rising for nine straight days, the rupee turned weak by 13 paise to 67.35 against the dollar in early trade at the foreign exchange market today on fresh demand for the American currency from importers, a PTI report said.
Stocks in focus:
IDBI bank: On Monday, IDBI Bank said it has cut its marginal cost of funds based lending rate (MCLR) by 30-35 basis points across various tenors. The new rates will be effective from February 1.
ITC: Y C Deveshwar, Chairman of ITC has stepped down and the company appointed Sanjiv Puri as Chief Executive Officer. Puri assumed the charge on Monday.
At 0929 hours the shares of the company were trading at Rs 285.90 per piece, up 3.44% or Rs 9.50 on BSE.
Quarterly results today: Bharat Heavy Electricals, Tata Steel, Ceat, Punjab National Bank, Bhel, IDBI Bank and NHPC will be announcing their quarterly result for the quarter ended on December 31.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.