Sensex Slumps 200 Pts, Nifty Tumbles at 24,273; L&T Up 5%

The Indian benchmark indices opened on a negative note on October 21 following lack of poor market sentiments.

At 9:30, the Sensex was down by 0.30% at 79,705.90, while Nifty was trading at 24,273.95.

Top gainers & losers

Tech Mahindra, Infosys, TCS, Trent, and Shriram Finance were the top losers, whereas

Cipla, L&T, Sun Pharma, Dr Reddy's, and Hero MotoCorp were the top gainers, NSE data showed.

What’s buzzing today?

The shares of Industrial technology giant Larsen & Toubro (L&T) were up by 5.6% to ₹3,600 apiece on the BSE. The company posted robust earnings in the September quarter reporting a consolidated revenue of₹61,555 crore, an increase of 21% YoY basis. While the net profit surged by 5.5% at ₹3,395 crore on YoY basis, overall tax expense for the quarter surged by ₹1442 crore.

Tata Power was down by 0.7% at ₹434 after the company reported its Q2 results. While profit after tax (PAT) was at ₹₹1,533 crore, up 51% YoY, revenue came down at ₹15,697.67 crore.

Sectors to watch

The biggest gainers in today’s morning trade include Industrial stocks followed by healthcare. BSE Industrials index was trading 2.05% higher at 14,987.88 levels.

Scenario of global markets

Wall Street ended the day on a negative note following decline in chip-sector stocks. Meta Platforms also warned of surging costs for artificial intelligence. Apple and Amazon are set to report their Q2 numbers later in the day. Japan's Nikkei slumped 0.5% as of 01:55 GMT, while South Korea's Kospi dropped 1.3%.