After trading on a volatile note throughout the day, share markets in India witnessed selling pressure during the closing hours and ended the day in the red. All sectoral indices traded in red, with stocks in the auto sector and realty sector leading the losses.
At the closing bell, the BSE Sensex stood lower by 383 points (down 1.1%) and the NSE Nifty closed down by 132 points (down 1.2%). The BSE Mid Cap index ended the day down 2.2%, while the BSE Small Cap index ended the day down by 2.1%.
The rupee was trading at Rs 73.57 against the US$.
Asian stock markets finished on a positive note. As of the most recent closing prices, the Hang Seng was up by 0.1% and the Shanghai Composite was up by 0.6%. The Nikkei 225 was up by 1.3%. Meanwhile, European markets were trading on a mixed note. The FTSE 100 was trading flat. The DAX was down by 0.2%, while the CAC 40 was down by 0.6%
IIFL Holdings share price witnessed selling pressure today as the company yesterday said that its subsidiary IIFL Wealth Management acquired Wealth Advisors India, a Chennai-based wealth management firm for a total consideration of Rs 2.35 billion.
From the IT sector, Infosys share price was in focus today as the company posted a surprise 3.2% dollar revenue growth in the September quarter (Q2FY19) as compared to the preceding three months.
This was the fastest sequential growth by India’s second-largest information technology (IT) services company in more than a year.
In constant currency terms, Infosys’s Q2 revenue rose 4.2% from the preceding three months.
Currency fluctuations, however, took some sheen off the company’s growth as dollar revenue increased at a slower pace to US$2.92 billion in the quarter ended 30 September.
Net profit rose 0.5% to US$ 581 million in the September quarter from US$ 578 million in the preceding quarter. Operating margin was 23.7%, same as in the June quarter.
