Sensex, Nifty slip for fifth day, top stocks in focus


Share market today: The blue-chip NSE Nifty 50 index was down 0.48 per cent at 17,534.35, while the S&P BSE Sensex fell 0.39 per cent to 58,794.50.

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Nifty’s metal sub-index slid more than 1 per cent early on Monday, led by a 3.2% fall in JSW Steel after its December-quarter net profit missed analysts’ estimates.

Indian shares slipped for the fifth straight session on Monday dragged lower by losses in JSW Steel after its quarterly profit missed estimates, while gains in ICICI Bank following third-quarter results kept a lid on losses.

The blue-chip NSE Nifty 50 index was down 0.48 per cent at 17,534.35, while the S&P BSE Sensex fell 0.39 per cent to 58,794.50.

Nifty’s metal sub-index slid more than 1 per cent early on Monday, led by a 3.2 per cent fall in JSW Steel after its December-quarter net profit missed analysts’ estimates.

Technology stocks also lost ground in early trading, with Infosys down 1.16 per cent, dragging the Nifty IT index more than 1% lower.

Shares of food delivery firm Zomato fell over 10 per cent and were trading at 102 rupees apiece, its lowest since listing in July.

ICICI Bank rose as much as 1.5 per cent after India’s second-largest private-sector lender beat profit expectations on the back of strong loan growth and lower bad loan provisions.

Investors kept an eye out for earnings reports from several companies including Axis Bank and HDFC Asset Management.

ALSO READ | Indian economy has some bright spots, number of very dark stains: Raghuram Rajan

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