The Sensex and Nifty, which opened higher, lost their gains and began trading flat during early morning trade on Monday. The BSE Sensex was up 44 points to 59,699 at 9:50 a.m. The NSE Nifty, on the other hand, was trading at 17,640, up 16 points.
ICICI Bank, Wipro, Titan, SBI, HCL, and IndusInd Bank were among the early gainers on the 30-share Sensex platform. Sun Pharma, TCS, ITC, Kotak Bank, Infosys, and Airtel, on the other hand, were losers.
Yes Bank shares slumped 2.5 percent after the private sector lender reported a 45 percent year-on-year drop in net profit to Rs 202 crore in Q4FY23, owing to a doubling of provisions. Furthermore, NII increased 15.4 percent in the March quarter to Rs 2,105 crore, owing to a 0.30 percent increase in the net interest margin.
Wipro shares rose 1% after the IT services business reconsidered a plan to buy back equity shares, with a final decision expected on April 26–27. Sun Pharmaceuticals shares fell 2.4 percent as the US Food and Drug Administration (USFDA) plans to perform remedial procedures at the Mohali plant before releasing more final product batches into the US.
The BSE MidCap and SmallCap indexes were mixed in the wider markets, with the former in red and the latter in green.
Sectorally, the Nifty Media, Pharma, and Realty indices all declined by up to 1%, while the Nifty Bank index rose by 0.5%.
On Friday, the BSE Sensex closed at 59,655, up 23 points, while the NSE Nifty 50 finished practically unchanged at 17,624.
