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The headline equity indices traded with substantial losses in morning trade. The Nifty traded below the 24,800 level. Metal shares extended losses for the second consecutive trading session.
At 10:30 IST, the barometer index, the S&P BSE Sensex, was down 813.94 points or 0.99% to 81,053.61. The Nifty 50 index declined 257.90 points or 1.03% to 24,753.
In the broader market, the S&P BSE Mid-Cap index declined 0.93% and the S&P BSE Small-Cap index fell 0.43%.
The market breadth was weak. On the BSE, 1,283 shares rose and 2,284 shares fell. A total of 147 shares were unchanged.
Result today:
Britannia Industries (down 1.11%), Titan Company (down 1.50%), Hindustan Zinc (down 1.73%), Dalmia Bharat (down 0.62%), Archean Chemical Industries (up 0.23%), Delhivery (up 0.40%), Dhanuka Agritech (down 0.48%), Glaxosmithkline Pharmaceuticals (up 2.71%), Kirloskar Brothers (down 0.83%), LIC Housing Finance (down 0.88%), Medplus Health Services (down 0.95%), Mold-Tek Packaging (down 2.04%), PSP Projects (down 0.06%), Saregama India (up 1.94%), Sheela Foam (down 0.66%), Sudarshan Chemical Industries (down 1.33%), UPL (down 1.09%) and Zydus Wellness (up 0.52%) will announced their quarterly earnings later today.
Buzzing Index:
The Nifty Metal index fell 2.57% to 9,327.20. The index slipped 2.67% in two consecutive trading sessions.
National Aluminium Company (down 3.74%), Vedanta (down 3.01%), Steel Authority of India (down 2.79%), Tata Steel (down 2.77%), JSW Steel (down 2.76%), Hindustan Copper (down 2.75%), Hindalco Industries (down 2.64%), Adani Enterprises (down 2.62%), NMDC (down 2.43%) and Jindal Steel & Power (down 2.41%) declined.
Stocks in Spotlight:
Kalyan Jewellers India slipped 1.01%. The company’s consolidated net profit jumped 23.69% to Rs 1775.58 crore in Q1 FY25 as compared with Rs 1,435.52 crore posted in Q1 FY24. Revenue from operations increased 26.5% YoY to Rs 55,354.79 crore in Q1 FY25.
Godrej Agrovet rose 0.99%. The company reported consolidated net profit of Rs 132 crore in Q1 FY25, up 22.9% as compared with Rs 107 crore in Q1 FY24. Revenue declined 6.4% YoY to Rs 2,351 crore in Q1 FY25.
Thermax declined 1.22%. The company’s consolidated net profit jumped 82% to Rs 108 crore in Q1 FY25 as compared with Rs 60 crore in Q1 FY24. Revenue increased 13% YoY to Rs 2,184 crore during the quarter.
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