MARKET LIVE: Sensex off lows, down 350 pts; Tata Motors leaps 6%

The S&P was at 60,318 levels as it fell over 400 points, while the was hovering around 17,990 levels, down 100 points. Both the benchmarks were trading 0.7 per cent lower.
In the broader market, the BSE MidCap and SmallCap indices declined up to 0.4 per cent.

Sectorally, the Nifty IT index fell over 1 per cent, followed by the Nifty PSU Bank index (down 0.9 per cent). On the upside, the Nifty Metal index gained 0.8 per cent, while the Nifty Auto added 0.6 per cent.

Among individual stocks, shares of (Tata Consultancy Services) dropped over 2 per cent on mixed December quarter results. reported 11 per cent year-on-year (YoY) growth in net profit, and revenue for the quarter came in at Rs 58,229 crore, up 19.1 per cent YoY in reported terms and 13.5 per cent YoY in constant currency terms. 

That apart, Tata Motors’ shares surged 5 per cent. The retail sales of automaker Jaguar Land Rover rose 5.9 per cent YoY in Q3FY23 reflecting a “gradual improvement in chip supplies”. CLSA has upgraded the stock to ‘buy’.

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