Early trade on Thursday saw a decline in equity benchmark indices, maintaining their sluggish momentum amid a downward trend in global markets and new outflows of foreign funds.
The 30-share BSE Sensex dropped 502.5 points to 63,546.56. The Nifty fell 159.55 points to 18,962.60.
One of the Sensex companies, Tech Mahindra, witnessed a nearly 3% decline in trading following the announcement of a 61% decline in consolidated net profit to Rs 505.3 crore for the July–September period, mainly as a result of reduced client spending.
Titan, JSW Steel, Tata Motors, Nestle, Mahindra & Mahindra, Bajaj Finserv, and Bajaj Finance were among the other notable laggards. Axis Bank emerged victorious, reporting a 10% rise in net profit to Rs 5,864 crore for the September 2023 quarter, primarily attributable to higher interest income.
The benchmark BSE dropped by 522.82 points, or 0.81 percent, on Wednesday to close at 64,049.06. The Nifty fell 159.60 points, or 0.83 percent, to 19,122.15.
