MARKET LIVE: Sensex erases losses, down 350pts, Nifty tests 17K; IT weakens

Among the Sensex-30 shares, Infosys, Tech M, Bajaj Twins, Maruti, Asian Paints, Sun Pharma, Titan, L&T and HDFC twins were the top laggards. 

IndusInd Bank, NTPC, and Axis Bank, meanwhile, were the only stocks in green on Sensex. Tata Motors and Divi’s Labs were the additonal gainers on the Nifty.

In the broader markets, the BSE MidCap and SmallCap indices were also in the negative territory, down up to 0.6 per cent.

Sectorally, Nifty Auto, IT, financials, metals and consumer durables were the top losers, down up to 1 per cent. Nifty private bank, meanwhile, turned flat. 

Among stocks, IndusInd Bank was the top Sensex winner, up 4 per cent on strong Q4 results. The lender reported a 51 per cent jump in net profits, aided by lower provisions and higher net interest income. Its net profit for the quarter totalled to Rs 1,401 crore compared to Rs 926 crore in the year ago period.

Just Dial, on the other hand, fell 3 per cent. The company’s Q4 consolidated net profit declined 34.3 per cent to Rs 22.05 crore for the quarter ended March 2022 vs Rs 33.57 crore in the year ago quarter.