Equities trade lower in early trade
Equities trade lower in early trade
Mumbai, January 13 Market benchmarks declined in early trade on Friday dragged down by index major Reliance Industries and IT counters along with continuous foreign fund outflows. The 30-share BSE Sensex declined 273.21 points to 59,684.82. The broader NSE Nifty slipped 69.75 points to 17,788.45. From the Sensex pack, HCL Technologies, Larsen amp; Toubro, Tech Mahindra, Reliance Industries, Wipro, Nestle, Tata Consultancy Services, Infosys, Asian Paints and HDFC were among the major laggards. HCL Technologies and Infosys fell in early trade after their December quarter earnings announcement. Infosys on Thursday reported a better-than-expected 13.4 per cent rise in profit for the December quarter and raised its annual sales forecast on a strong deal pipeline even as it warned of "constraints" in certain verticals amid slowing global economy. HCL Tech on Thursday reported a 19 per cent increase in the consolidated net income to Rs 4,096 crore for the third quarter ended December 31, 2022 driven by growth in services revenue. Meanwhile, Tata Steel, IndusInd Bank, NTPC, Mahindra amp; Mahindra, UltraTech Cement and Power Grid were among the winners from the 30-share pack. Foreign Institutional Investors offloaded shares worth Rs 1,662.63 crore on Thursday, according to exchange data.