Inventory market LIVE:
Frontline indices slipped into the purple territory after a flat begin on Tuesday as buyers seemed ahead to the pre-budget financial survey
for 2023-24, which will likely be tabled within the Parliament later right now. The BSE Sensex fell 270 odd factors to 59,229, whereas the NSE Nifty index misplaced 80 factors to drop to round 17,550. The financial survey
is prone to peg the home GDP progress at 6-6.8 per cent for 2023-24, in line with a Reuters report. It may see the expansion at 6.5 per cent for 2023-24 beneath the baseline state of affairs, which might be the slowest in three years. READ
Moreover, Ultratech Cement, Pwer Grid, M&M, Reliance Industries, SBI, ICICI Financial institution, Airtel led positive factors on the Sensex whereas Adani Enterprises, Adani Ports and BPCL had been the extra winners on the Nifty. On the flip facet, Tech M, HCL Tech, L&T
and Hindalco had been among the many prime losers.
Within the broader markets, the BSE Midcap index was additionally flat whereas the Smallcap index rose 0.2 per cent.
Inside sectors, the Nifty IT index was the worst hit, which slipped 1 per cent. Steel, Auto and PSB pockets had been the highest performers, rising as much as 0.8 per cent.
Amongst shares, Adani Whole Gasoline
hit the revised 10 per cent decrease circuit, Adani Inexperienced
was down 7 per cent, whereas Adani Enterprises
held some energy with a achieve of round 2 per cent.
Tech M dropped 3 per cent after reporting a fall of 5.3 per cent in web revenue for the third quarter of FY23 at Rs 1,297 crore.