Indian share markets finished marginally lower in the afternoon session. At the closing bell, the BSE Sensex stood lower by 17 points, while the NSE Nifty finished down by 5 points. Meanwhile, the S&P BSE Mid Cap finished up by 0.2% & the S&P BSE Small Cap finished down by 0.4%. Gains were largely seen in PSU stocks, pharma stocks, and energy stocks while, software stocks finished in red.
Infosys share price rose in morning trade before finishing down by 0.4% after the company reported better than expected earnings. The company reported 3.3% quarter-on-quarter (QoQ) in June quarter net profit at Rs 34.83 billion.
The company also maintained its full-year revenue guidance.
Meanwhile, TCS share price fell 1.9% after it reported muted earnings. The company reported sequential dollar revenue growth of just 2% in a seasonally strong quarter, and its margins fell by 240 basis points.
Asian stock markets finished higher today with shares in Hong Kong leading the region. The Hang Seng is up 0.16% while China’s Shanghai Composite is up 0.13% and Japan’s Nikkei 225 is up 0.09%. European markets are mixed to lower. Shares in London are off as the FTSE 100 drops 0.23%. The DAX is down 0.07% while the CAC 40 in France is unchanged.
The rupee was trading at Rs 64.45 against the US$ in the afternoon session. Oil prices were trading at US$ 46.30 at the time of writing.
In news from IPO space, the initial public offer of infrastructure firm Salasar Techno Engineering was oversubscribed 5.07 times on the second day of bidding.
The IPO, which will close on 17 July, received bids for 16,852,375 shares against the total issue size of 3,321,000 shares, data available with the NSE showed.
Proceeds from the issue will be utilized for meeting working capital requirements and general corporate purposes. Salasar Techno provides customised steel fabrication solutions in the domestic market.
