Stock market LIVE updates: Equity markets reciued losses in the afternoon deals and were trading in the positive zone.
The S&P BSE Sensex, which fell over 300 points intra-day, was quoting at 60,160 levels, up points. The Nifty50, meanwhile, was testing 17,900 levels.
Wipro, Titan, Tech M, L&T, Axis Bank, RIL, Asian Paints, Kotak Bank, Tata Motors, HDFC Bank, ITC, Sun Pharma, and Bajaj Finserv fell in trade.
Tata Steel, up nearly 2 per cent, was the top Sensex gainer, followed by Infosys, M&M, Ultratech Cement, Maruti Suzuki, IndusInd Bank, TCS, HUL, and PowerGrid.
In the broader markets, the Nifty MidCap and the SmallCap fell up to 0.6 per cent
Q3 result review:
Infosys: Despite healthy deal wins, Infosys’ upgraded growth guidance implies a soft Q4 with sequential growth of -1.3 per cent to 0.4 per cent in constant currency (cc). Slowed net hiring, which was the lowest in 9 quarters, also reflects rising caution, said Jefferies. READ MORE
HCL Tech: The reduced revenue growth guidance for FY23 to 13.5-14 per cent from 13.5-14.5 per cent, and margin guidance to 18-18.5 per cent from 18-19 per cent indicated softness in Q4FY23, on the back of seasonal weakness and drop in products and platforms (P&P) business, said analysts. READ MORE
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