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Live: Infosys guidance cut may upset street; Mixed Q2 for HCL Tech| DRL, Ircon in focus|CPI eases

Indian Equity indices have turned into a consolidation mode after two days rally, with the Nifty50 closing tad below 19,800 mark with a moderate losses on October 12. The index remained in the range of 19,750-19,850 for yet another session, hence the decisive breakout on either of this range can give clear direction to the market going forward, experts said.The BSE Sensex fell 65 points to 66,408, while the Nifty50 dropped 17 points to 19,794. The broader markets outperformed benchmark indices with the Nifty Midcap 100 and Smallcap 100 indices climbing 0.2 percent and 0.65 percent respectively. India VIX, which measures the expected volatility for next thirty days in the Nifty50, dropped for third straight session, indicating some stability in the equity markets. The VIX fell by 3.34 percent from 10.99 to 10.62 levels. This morning global cues are not very encouraging as Wall Street has snapped a 4-day winning streak amid a hotter than expected inflation data. Asian markets too edge lower with the GIFT Nifty hinting at a negative start. Among stocks to watch out for will be Infosys after a strong show in Q2 but surprise guidance cut could take a toll on the stock. HCL Tech will be in focus too as revenue misses estimates. Also watch out for Dr Reddy’s and Angel One. Catch Nandita Khemka in conversation with Siddhartha Khemka, Head - Retail Research, Broking & Distribution, MOFSL and Raja Venkatraman, Co-founder Neotrader and Trading Influencer.

first published: Oct 13, 2023 08:36 am