Sensex, Nifty Remain in Red; Auto Shines
The Equity markets continued to remain weak on March 12 as Sensex was trading at 74,042.51, down 0.081%% while Nifty fell by 0.13% at 22,469.35.
Sensex, Nifty Remain in Red; Auto Shines
The Equity markets continued to remain weak on March 12 as Sensex was trading at 74,042.51, down 0.081%% while Nifty fell by 0.13% at 22,469.35.
Infosys, Wipro, Tech Mahindra, Adani Enterprises, HCL Technologies emerged as the major losers on Nifty, while IndusInd Bank, Kotak Mahindra Bank, Tata Motors, HDFC Bank, Sun Pharma are trading in green.
Shares of IndusInd soared by 5% as the management remained optimistic about the future. CEO Sumant Kathpalia assured that the bank is likely to absorb the losses in the ongoing quarter itself. “The full year won't be a loss at all. And I think Q4 will also be in profit...The bank will start seeing great profitability from Q1,” he said while speaking to CNBC-TV18.
Meanwhile, NIfty IT fell by 2% on March 12 after Morgan Stanley pointed out macroeconomic headwinds and technological shifts.
Sector-wise, auto index was up by 0.5%, while IT, realty, telecom, media were down by 1%-3%.
