NEW DELHI: Benchmark indices were off to a negative start on Thursday, ahead of the monthly expiry of futures and options contracts later in the day. The action was largely stock-specific as over half a dozen Nifty50 companies including ITC, Bajaj Auto and L&T reported quarterly earnings the previous day.
At 9.40 am, the BSE Sensex was trading 386 points, or 0.63 per cent, lower at 60,756.94. The Nifty50 fell to 18,073, down 137 points or 0.75 per cent.
“The range of 18,100-18,000 is key support for Nifty50. As of now, we do not see any indication of Nifty50 breaching this important support zone on the expiry day itself but it may happen sooner or later. On the higher side, 18,350-18,400 remains a sturdy wall,” said Sameet Chavan of Angel Broking.
fell 3.94 per cent to Rs 2,363, even as the Tata group firm reported a nearly four-fold jump in consolidated net profit at Rs 641 crore for the September quarter.
Tata Steel shares declined 1.92 per cent to Rs 1,299. Axis Bank fell 1.60 per cent to Rs 774. ICICI Bank, HDFC Bank and ITC shed over 1 per cent each.
ITC reported a 13.67 per cent year-on-year (YoY) rise in standalone net profit at Rs 3,697.18 crore compared with Rs 3,252.62 crore in the corresponding quarter last year.
climbed 4.13 per cent to Rs 1,189 as the September quarter profit rose sharply led by the strongest growth in its loan book since CEO Sumant Kathpalia took charge in March 2020. Larsen &Tourbo, Bajaj Auto and UltraTech Cement rose up to 2.5 per cent.
Bajaj Finserv, Adani Green Energy, Adani Total Gas, NPTC, SBI Cards & Payment Services, DLF, Interglobe Aviation, Marico, Tata Power, Bajaj Holdings and Investments, Gujarat Gas, AU Small Finance Bank, Laurus Labs and Indian Bank are among the companies that will announce their September quarter results today.Internet Explorer Channel Network