MARKET LIVE: Sensex, Nifty fluctuate; broader indices underperform – Business Standard

LIVE market updates: The Indian benchmark indices continued to fluctuate between gains and losses in Friday’s noon deals, as gains in public sector banks were offset by losses in metals and auto stocks.

The S&P BSE hovered around 48,750 levels, and the broader index topped the 14,700-mark. Asian Paints rose 11 per cent and was the top gainer, followed by Titan, SBI, and ITC gained 1 per cent, each. On the other hand, TCS, Mahindra & Mahindra, and Tech Mahindra fell 1 per cent, each.

All the Nifty sectoral indices, except Nifty IT index, traded with gains, led by Nifty PSU Bank index, up 2 per cent.

In the broader markets, the S&P BSE MidCap and SmallCap indices fell 0.6 per cent, each.

Results today

A total of 41 companies, including the likes of Larsen & Toubro, Dr Reddy’s Laboratories, Cipla, Aditya Birla Capital, Just Dial, and Mindspace Business Parks REIT are scheduled to release their quarterly results today.

Most analysts back Larsen and Toubro (L&T) to report healthy quarterly results on the back of nearly Rs 17,500 crore order book. The company’s ability to hold on to margins amid higher raw-material prices and restored salaries/wage cuts through cost efficiencies and cost control, order pipeline, and commentary on FY22 guidance amid the Covid-19 second wave uncertainty are among the key monitorables for L&T, according to analysts. READ MORE

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