October 2, 2022

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Sensex, Nifty Trade In Narrow Range

1 min read

Indian shares recovered from an early slide to trade slightly higher on Monday.

The benchmark S&P BSE Sensex rose 130 points, or 0.2 percent, to 58,517, while the broader NSE Nifty index was up 35 points, or 0.20 percent, at 17,432.

One97 Communications surged 4.6 percent despite widening its quarterly net loss.

Mahindra & Mahindra jumped 2.4 percent on reporting a 67 percent rise in Q1 standalone net profit.

NTPC, Hindalco, IndusInd Bank and Bajaj FinServ were up 1-2 percent.

SBI tumbled 3 percent as it reported a 6.7 percent fall in Q1 net profit, missing the Street estimates by a wide margin due to a huge hit on the market value of the bank’s government bond investments.

BPCL slumped 4 percent after it logged a Rs. 6,148 crore in the first quarter ended June.

HPCL plummeted 5.5 percent on reporting its highest ever quarterly net loss in Q1.

Vodafone Idea was little changed. The cash-strapped telecom firm said that incremental tariff hikes are crucial to improving industry health.

Bharti Airtel was marginally higher and Adani Ports gained around 1 percent ahead of their earnings results.

Tata Motors rose half a percent after it signed an agreement to buy Ford Motor’s manufacturing plant in Gujarat for $91.5 million (Rs 726 crore).

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2022-08-08 00:18:59

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