Indian shares ended a choppy session marginally lower on Monday as investors digested disappointing earnings from the likes of Reliance Industries and Wipro, and looked ahead to the presentation of the Union Budget 2024 for impetus.
Cues from Asia and Europe were mixed as Joe Biden announced his withdrawal from the 2024 presidential race against Donald Trump and China’s central bank unexpectedly lowered its one-year benchmark loan prime rate to bolster a slowing economy.
The benchmark S&P/BSE Sensex ended the session down 102 points, or 0.13 percent, at 80,502 after a choppy session.
The broader NSE Nifty index closed at 24,509, down 22 points, or 0.09 percent, from its previous close.
Wipro slumped 9.3 percent after the information technology firm posted sluggish growth in the first quarter of financial year 2024-25.
Conglomerate Reliance Industries tumbled 3.4 percent after reporting a 5.5 percent year-on-year decline in consolidated profit for the April-June period of 2024-25.
SBI Life, ITC and Kotak Mahindra Bank fell 1-3 percent while Mahindra & Mahindra, HDFC Bank, NTPC, UltraTech Cement and Grasim rallied 2-3 percent, helping limit the downside in the broader market.
Market Analysis
Sensex, Nifty End Choppy Session Marginally Lower
2024-07-22 10:24:09
