The domestic stock markets have shed nearly a per cent in mid-morning trading, post the 1 per cent gains on Tuesday, due to sluggish cues from the global markets. At 10:35 am, the BSE Sensex was trading at 48,130.55, lower by 418.55 points or 0.87 per cent and the NSE Nifty was at 14,384.55, down 115.80 points or 0.78 per cent. The broader markets were under-performing the benchmark indices, with the BSE Midcap index and BSE Smallcap index losing more than a per cent each.
Wall Street indexes closed mixed on Wednesday, with the Nasdaq Composite and S&P 500 falling despite another record intraday high for the latter and big banks' stellar results on the first day of earnings season. The Dow Jones rose 0.16 per cent, while the S&P 500 lost 0.41 per cent and Nasdaq Composite dropped 0.99 per cent.
On the corporate front, on Wednesday, April 14, 2021, Infosys reported an annual increase of 17 per cent in its net profit at 5,076 crore on the back of large contract wins as the COVID-19 pandemic drove digitisation efforts in multiple sectors. The company's board of directors also approved a share buyback proposal of Rs 9,200 crore and a final dividend of Rs 15 per share.
Wipro, Blue Blends (India), Hathway Bhawani Cabletel & Datacom and Tinplate Company of India will release their quarterly numbers on April 15.
On the stock-specific front, Hindalco, ONGC, Tata Steel and Adani Ports were the top gainers on the BSE, registering returns of 1 per cent to per cent each. Wipro jumped more than a per cent at Rs 424.80 on the BSE ahead of its quarterly numbers scheduled during the day.
On the other hand, Infosys was the top loser on the BSE post its Q4 numbers. The IT bellwether stock dived by Rs 58.70 or 4.20 per cent to Rs 1,339.90 on the BSE in early trading. Grasim, Eicher Motors and Maruti Suzuki lost more than 3 per cent each on the BSE.