CLOSING BELL
Ease in
wholesale prices for December could not soothe investors on Monday as markets closed the session on a weak ground pulled down by select heavyweights.
After opening with firm gains, the BSE Sensex shed 494 points from the day's high. The index ended 168 points lower at 60,093 dragged by HDFC twins, Reliance, Axis Bank, ICICI bank, L&T, HUL, Airtel and M&M, down 1-2 per cent.
On the flip side, IT majors Tech M, HCL Tech, Infosys, Wipro and TCS were the top index winners, which gained up to 3 per cent.
The NSE Nifty closed 62 points lower at 17,895. Adani Enterprises, Hindalco and JSW Steel were the additional losers on the index.
In the broader market, the BSE Midcap and Smallcap indices also ended 0.3 per cent and 0.1 per cent lower, respectively.
Within sectors, IT and PSB indices on the Nifty defied the market and closed over 1 per cent higher. Metal and financial pockets were the worst hit.
Among stocks,
Sula Vineyard zoomed 15 per cent after the company posted highest-ever quarterly sales in Q3FY23.
Read story HDFC Bank weakens post Q3 as moderating loan, deposit growth weighs
HDFC Bank shares closed 1 per cent lower as focus shifted on the lender's moderating growth post the October-December quarter result. Analysts expect the stock to perform gradually until the margin profile revives, and the merger-related overhang eases.
Read review here Markets to shift to T+1 settlement system from January 27: Report
The Indian stock market will shift to a shorter trading cycle, T+1 settlement, on January 27. This would allow the buyers and sellers to get shares and money in their accounts one day after the trade ends, a report by The Times of India said.
Read here "Sensex slips 168 pts led by HDFC Bk, RIL, Nifty below 17900; IT pack shines")
