Share Market Today Live Updates: Sensex, Nifty 50 extend losses (File Image)
Stock Market Live: In line with trends emerging from last four sessions, Sensex and Nifty extended losses with broader markets making similar moves.
Indian frontline indices opened in mixed territory on Thursday, May 9. BSE Sensex opened 33.10 points, or 0.05 per cent higher at 73,499.50 while Nifty inched 77.70 points, or 0.35 per cent lower at 22224.80. The indices closed in red territory for last four sessions.
From the Sensex basket, L&T went lower by over 3 per cent after March quarter earnings followed by TCS, Tech Mahindra, ITC, Bajaj Finserv, Bharti Airtel and Reliance Industries. On the other hand, Mahindra & Mahindra, Titan, Maruti and Tata Motors were among the gainers.
Broader markets, in line with frontline indices, dipped nearly 1 per cent.
Meanwhile, the performance of the corporate sector has remained muted, with profits and sales numbers showing a slowdown in growth in the quarter ended March 2024, as per a Bank of Baroda report.
As per an analysis of quarterly results of 378 companies, profit after tax (PAT) grew by 5.8 per cent in the March 2024 quarter, compared to a growth of 8.1 per cent compared to a year ago period.
On Wednesday, Foreign Institutional Investors (FIIs) offloaded equities worth Rs 6,669.10 crore. In Asian markets, Nikkei and Hang Seng were trading with gains while Kospi traded lower.
However, the most important announcement is yet to made. Investors will keep a close watch on the Bank of England (BoE), which will decide its interest rate policy later today, with eyes on the prospects of a June rate cut.
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