Opening bell: Markets open flat, metal shares gain

Opening Bell.

by 5paisa Research Team Last Updated: Dec 13, 2022 - 03:30 pm 19.5k Views
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In the early going amid conflicting Asian indications, the major equities barometers are trading with slight losses.

While healthcare, pharma, and IT equities fell, demand for real estate, metals, and oil & gas shares increased. Positive market breadth was present as 1,440 shares increased and 1,010 shares decreased on the BSE and 111 shares in total remained unchanged.

The S&P BSE Sensex, the barometer index, was down 166.09 points, or 0.28%, to 59,166.51 at 09:26 am. To 17,610.70, the Nifty 50 index dropped 48.30 points or 0.27%. The S&P BSE Small-Cap index increased by 0.25% and the S&P BSE Mid-Cap index increased by 0.09% in the overall market.

On August 11, the Indian equities market saw purchases of shares of Rs 2,298.08 crore from foreign portfolio investors (FPIs) and net sales of Rs 729.56 crore from domestic institutional investors (DIIs). Following significant gains in the previous session, Asian markets were trading in a range on Friday as investors processed the US inflation news. On Thursday, US stocks battled to find direction before ending in a range. The Nasdaq Composite fell 74.89 points, or 0.58%, to 12,779.91, while the S&P 500 fell 2.97 points, or 0.07%, to 4,207.27. The Dow Jones Industrial Average increased 27.16 points, or 0.08%, to 33,336.67.

Rising by 0.20% was Aurobindo Pharma. On the back of a 9.4% increase in total revenue to Rs 6235.9 crore from Q1 FY22 to Q1 FY23, the company's consolidated net profit fell by 32.4% to Rs 520.50 crore. The enterprise Apollo Hospitals declined by 2.15%. Comparing Q1 FY23 to Q1 FY22, the company's consolidated net profit decreased to Rs 323.78 crore from Rs 500.68 crore. Aster DM Healthcare experienced a 7.44% drop. In Q1 FY23 over Q1 FY22, the company's consolidated net profit increased by 54% to Rs 69 crore on a 12% increase in revenue to Rs 2662 crore. Rising by 0.51% was Sunteck Realty. In Q1 FY23 compared to Q1 FY22, the company's consolidated net profit increased by 724% to Rs 25 crore on an increase in operating revenue of 66% to Rs 144 crore.

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