Opening Bell: Benchmark indices start the week trading marginally lower; IT stocks are among the top losers

Opening Bell: Benchmark indices start the week trading marginally lower; IT stocks are among the top losers

by 5paisa Research Team Last Updated: Dec 13, 2022 - 06:39 am 26.1k Views
Listen icon

The benchmark indices commenced the new week by opening marginally lower.

In the pre-opening session, Nifty futures on the Singapore Exchange, traded 95 points, or 0.57% down at 16,494 level indicating a lower start. On the global front, Wall Street's three major stock indexes namely Down Jones Industrial Average, S&P 500 and Nasdaq composite ended lower on Friday after a solid jobs report lowered the hopes halt in the Federal Reserve's aggressive policy-tightening, which is necessary to control decades-high inflation. On Monday, Asian shares made a dampened start due to cautiousness ahead of critical reading on US inflation.

At the open, Sensex slipped 146.45 points or 0.26% at 55622.78, and Nifty lost 28 points or 0.17% at 16556.30. The top gainers in Sensex at the open are Mahindra & Mahindra, Reliance Industries, Axis Bank, IndusInd Bank and L&T whereas the top losers are Tech Mahindra, Wipro, Infosys, HUL and TCS. Among the companies who will declare Q4FY22 results on Monday include Urja Global, Setco Automotive, AVG Logistics, Cinevista, Marshall Machines, Chadha Papers, APT Packaging, Dhanvantri Jeevan Rekha, Ind-Agiv Commerce, Alpha Hi-Tech Fuel and Arihant Institute.

In the broader markets, at 9.40 am BSE Mid Cap and Small Cap indices were seen underperforming trading 1.31% and 1.33% lower, respectively. The top three midcap stocks were Oil India, IDBI Bank and Glenmark Pharmaceuticals whereas the top three small cap stocks were Kamdhenu, Glenmark Life Sciences and Savita Oil Technologies.

On the sectoral front, indices traded lower with the realty, technology, telecom, consumer durables, FMCG and energy indices declining more than a per cent each. BSE IT index has slipped the most trading 1.70 % down. The top stocks dragging the IT index were Brightcom Group, NIIT, Xelpmoc, Coforge and Happiest Minds, falling up to 5%.

Share Market Today

How do you rate this article?

Start Investing in 5 mins*

Rs. 20 Flat Per Order | 0% Brokerage


About the Author

Our research team is composed of some highly qualified research professionals, their expertise range across sectors.


Investment/Trading in securities Market is subject to market risk, past performance is not a guarantee of future performance. The risk of loss in trading and investment in Securities markets including Equites and Derivatives can be substantial. Also, The
Enjoy 0%* Brokerage with 5paisa
Resend OTP
Please Enter OTP
Mobile No. belongs to

By proceeding, you agree to the T&C.

Latest News
Polymatech Electronics: ₹1,500 Crore IPO for Semiconductor Expansion

Polymatech Electronics, prominent semiconductor chip manufacturer based in Chennai, is gearing up for significant financial move with plans to launch₹1,500 cr initial public offering (IPO) by end of year. This IPO, double size initially envisaged, signifies company’s ambitious expansion strategy in semiconductor industry.

Vodafone Idea Sets Floor and Cap Prices for FPO Amid Market Speculation

In a major development, Vodafone Idea Ltd. has revealed the floor price and cap price, alongside the lot size, for its upcoming follow-on public offering (FPO). The telecom giant witnessed a decrease of more than 3.25% during early trading on Wednesday, settling at ₹12.51, thus holding a market capitalization exceeding ₹61,000 crore.

Bondada Engineering Share Price Surged by 1423.2%, Know Why?

Bondada Engineering, standout in integrated infrastructure sector, witnessed extraordinary surge in its share price, soaring by impressive 1423.2% since its debut on BSE SME platform in August 2023. Investors who were part of IPO allocation saw significant gains, potentially earning 18.3 lakhs in just over eight months.