Sensex down 196 pts; Media shares decline

The domestic equity barometers traded with modest losses in morning trade. The Nifty hovered near the 18,100 level. Barring the Nifty Oil & Gas index, all the other sectoral indices on the NSE were in the red.

At 10:30 IST, the barometer index, the S&P BSE Sensex, was down 195.92 points or 0.32% to 60,849.82. The Nifty 50 index lost 63.80 points or 0.35% to 18,101.55.

In the broader market, the S&P BSE Mid-Cap index fell 0.11% while the S&P BSE Small-Cap index slipped 0.03%.

The market breadth was almost even. On the BSE, 1,568 shares rose, and 1,577 shares fell. A total of 146 shares were unchanged.

Foreign portfolio investors (FPIs) sold shares worth Rs 319.23 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 1,225.96 crore in the Indian equity market on 18 January, provisional data showed

Earnings Today:

Hindustan Unilever (down 1.34%), Asian Paints (up 0.01%), AU Small Finance Bank (down 0.12%), Can Fin Homes (down 0.13%), L&T Technology Services (down 1.02%), Happiest Minds Technologies (down 0.05%), Havells India (up 0.25%), Hindustan Zinc (up 2.20%), Anant Raj (up 0.13%), IIFL Wealth Management (up 0.93%), IndiaMART InterMESH (down 0.32%), ICICI Securities (up 0.15%), Mphasis (up 0.57%), Polycab India (down 0.56%), PVR (down 0.98%), and Sterling and Wilson Renewable Energy (up 1.24%) will announce their quarterly results later today.

Buzzing Index:

The Nifty Media index gained 1.16% to 1,911.20. The index rose 0.25% in the past trading session.

Dish TV India Ltd (down 1.96%), Zee Entertainment Enterprises Ltd (down 1.59%), Nazara Technologies Ltd (down 1.33%), Inox Leisure Ltd (down 1%), PVR Ltd (down 0.98%), TV18 Broadcast Ltd (down 0.84%), Navneet Education Ltd (down 0.64%), Network 18 Media & Investments Ltd (down 0.64%), Sun TV Network Ltd (down 0.45%).

Stocks in Spotlight:

Goa Carbon jumped 6.91% after the company's board appointed Vikrant Garg as chief financial officer and as key managerial personnel, effective 18th January 2023.

Rallis India slipped 4.66% after the company reported 43% decline in net profit to Rs 22.55 crore in Q3 FY23 as against Rs 39.55 crore posted in Q3 FY22. Revenue from operations rose marginally to Rs 630.39 crore in quarter ended 31 December 2022 from Rs 628.08 crore recorded in Q3 FY22.

KDDL declined 2.14%. The company's board approved buyback worth upto Rs 21 crore at a price not exceeding Rs 2,100 each. The maximum buyback size represents 9.73% and 8.47% of the aggregate of the total paid-up equity share capital and free reserves of the company.

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