Stock market LIVE updates: Frontline indices started lower on Wednesday as investors gear up for the monthly F&O expiry later today. The S&P BSE Sensex, which fell 100 points in opening deals, extended fall to over 300 points, or 0.5 per cent, to 60,690 levels.
The Nifty50, on the other hand, was hovered near 18,000-mark, down nearly 100 points or 0.5 per cent. Hindalco, Tata Steel, Maruti Suzuki, HUL, M&M, ICICI Bank, and BPCL were the top 50-pack gainers, while Adani Ports, Ultratech Cement, Adani Enterprises, SBI, Apollo Hospitals, Dr Reddy’s Labs, and Divis Labs remained top laggards.
In the broader markets, the BSE MidCap and SmallCap indices dropped 0.7 per cent and 0.4 per cent, respectively.
Sectorally, only the Nifty Auto and Metal indices were in the green, up 0.09 per cent and 0.14 per cent, respectively. On the downside, the Nifty PSU bank index fell 1.15 per cent, followd by the Nifty Bank and Pharma indices (down 0.75 per cent each).
Buzzing stocks
TVS Motor Company shares, too, climbed 3 after the company posted a 28 per cent YoY rise in net profit for Q3FY23 at Rs 303.60 crore from Rs 236.56 crore in Q3FY22.
Coffee Day Enterprises, on the flipside, shed 3 after Sebi imposed a penalty of Rs 26 crore on the company for alleged violation of securities laws.
SBI Card shares declined 2 per cent as the company’s Q3 results missed estimates. The company reported a 32 per cent YoY jump in net profit at Rs 509 crore for Q3FY23, aided by healthy interest income and drop in impairment losses and bad debts.
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