Tracking global weakness, the domestic benchmark indices started trade lower on Wednesday. The Sensex was down 366.36 points or 0.64 per cent at 56990.25, and the Nifty was down 125.60 points or 0.73 per cent at 17075.20. About 850 shares have advanced, 2049 shares declined, and 88 shares are unchanged.
In the broader markets, the BSE MidCap and SmallCap indices also opened in red down up to 0.24 per cent. Sectorally, Nifty IT, Financials, Bank and Auto led losses, falling up to 1 per cent. Nifty Metal index was the only one in green.
Among stocks, Mahindra Logistics surged 10 per cent. The company posted a 2.8 per cent decline in Q4FY22 net profit at Rs 12.23 crore when compared with Rs 12.58 crore in Q4FY21. Total income, however, grew by 10.2 per cent to Rs 1,078.37 crore from Rs 978.56 crore.
Global Cues
Wall Street ended sharply lower on Tuesday, with the Nasdaq closing at its lowest since December 2020 as investors worried about slowing global growth and a more aggressive Federal Reserve. The Dow Jones Industrial Average fell 2.38 per cent to end at 33,240.18 points, while the S&P 500 lost 2.81 per cent to 4,175.2. The Nasdaq Composite dropped 3.95 per cent to 12,490.74. Of the 134 companies in the S&P 500 that reported earnings so far, 80.6 per cent topped analysts’ profit expectations, according to Refinitiv data. In a typical quarter, 66 per cent beat estimates.
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