When investors evaluated Q4 results and global signals on Thursday, key indexes in India stabilized. In early trades, the S&P BSE Sensex was trading at 59,595, up 27 points or 0.05 percent, while the Nifty50 was holding above the 17,600-mark.
The large-caps that raised the standards on their own were Titan, Ultratech Cement, Asian Paints, Tata Motors, Bajaj Finserv, ITC, and M&M.
The BSE MidCap and SmallCap indexes saw gains of 0.03 percent and 0.19 percent, respectively, in the larger market.
As the business announced a 22.8 percent year-over-year fall in consolidated earnings at Rs 262.7 crore for the quarter ended March FY23, ICICI Securities shares fell 5%.
On the other side, Mastek shares increased 3.7% as the IT services provider reported a 13.07% sequential increase in consolidated profit at Rs 72.6 crore for the March FY23 quarter. To reach Rs 709.2 crore for the quarter, revenue increased across activities by 7.7% QoQ.
Apart from that, shares of Tata Communications increased by 1%. The company’s consolidated earnings for Q4FY23 dropped by 10.7% year over year to Rs 326 crore. At Rs 4,569 crore, revenue for the quarter increased by 7.2% year over year.
In terms of industries, the Nifty Pharma index fell 0.37 percent while the Nifty Auto index increased 0.20 percent. The rest of the indexes were all flat.
World cues
While investors remained cautious ahead of the anticipated 25 basis point increase in interest rates by the U.S. Federal Reserve next month, Asian markets inched down on Thursday, and the currency was weaker.
As Japan’s Nikkei gained 0.07%, MSCI’s largest index of Asia-Pacific equities outside of Japan fell by 0.16%. The S&P/ASX 200 index for Australia decreased by 0.07%.
After recent advances, Tokyo equities began lower on Thursday as investors analyzed US company quarterly reports for fresh indications.
The broad Topix index down 0.52 percent, or 10.51 points, to 2.029.73, while the benchmark Nikkei 225 index fell 0.53 percent, or 152.94 points, to 28,453.82.
While investors analyzed a mixed bag of corporate results, including positive news from medical technology firms offset by fall in Netflix shares, the S&P 500 finished Wednesday practically flat as the Dow fell.
