Sensex, Nifty End Flat; Tech Mahindra Top Gainer, ITC Slides 6%

The broader markets ended with a deep cut, with the BSE Midcap index losing 2.2 per cent and BSE Smallcap index shedding 1.9 per cent

Sensex, Nifty End Flat; Tech Mahindra Top Gainer, ITC Slides 6%

Hindustan Unilever surrendered intra-day gains to end lower by 4 per cent post September quarter results

The stock markets ended flat after touching fresh all-time highs earlier in the day, amid bouts of volatility. Buying interest in heavyweights such as L&T, Tech Mahindra and Infosys was negated by profit-booking in the likes of ITC and Tata Motors. The BSE Sensex ended the session at 61,716.50, lower by 49 points and the NSE Nifty ended at 18,418, down 58 points or 0.30 per cent. The broader markets ended with a deep cut, with the BSE Midcap index losing 2.2 per cent and BSE Smallcap index shedding 1.9 per cent.

On the stock-specific front, L&T gained 3 per cent at Rs 1844.95 on the BSE. L&T Infotech, an L&T Group company, had reported net profit of Rs 552 crore for the second quarter ended September 30, 2021, up 21 per cent on a year-on-year basis. L&T Infotech surged 16 per cent to Rs 6,880 post its results. Tech Mahindra, Bajaj Finserv and Infosys were the other significant gainers in the BSE Sensex pack.

Tata Coffee zoomed around 8 per cent to touch a 52-week high on the BSE in early trades on the back of a 26.55 per cent growth in consolidated net profit in the September quarter. Tata Coffee reported a 26.55 per cent growth in consolidated net profit at Rs 53.66 crore during the quarter ended September 2021 as against Rs 42.40 crore during the corresponding quarter of the previous fiscal. Tata Coffee shares ended the day at Rs 235.80, up 0.7 per cent.

On the other hand, ITC nosedived 6.2 per cent to top the losers list on the BSE after the Ministry for Heath and Family Welfare set up an expert panel to review the taxation policy for tobacco products. Titan, Tata Steel and Powergrid also shed around 3 per cent each on the BSE.

Hindustan Unilever surrendered its intra-day gains to end lower by 4 per cent at Rs 2,546 post its September quarter results. The company reported an 8.86 per cent year-on-year rise in standalone net profit at Rs 2,187 crore for the second quarter of fiscal 2021 as against Rs 2,009 crore in the same quarter last year.

The BSE market breadth was weak. Out of 3,489 stocks traded on the BSE, there were 985 advancing shares as against 2,380 declines.

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