Market rebounds from day?s low; Nifty trades above 22,650 mark

The key equity benchmarks pared their losses in morning trade on Monday, as investors stepped in to buy at lower levels amid easing crude oil prices. Market sentiment remained cautious amid the ongoing Q2 earnings season. The Nifty recovered above the 22,650 mark after hitting an intraday low of 22,387.35, indicating some buying interest at lower levels.

IT stocks remained under pressure, extending their losing streak for the third consecutive trading session, as investors continued to trim their exposure to the sector.

At 10:25 IST, the barometer index, the S&P BSE Sensex advanced 155.47 points or 0.21% to 73,294.77. The Nifty 50 index added 45.75 points or 0.20% to 22,656.65.

The broader market outperformed the frontline indices. The Nifty MidCap 150 Index rose 0.47% and the Nifty SmallCap 250 Index jumped 0.51%.

The market breadth was positive. On the NSE, 1,916 shares rose and 1,376 shares fell. A total of 106 shares were unchanged.

Earnings Today:

Tata Consumer Products (down 2.86%), ITC Hotels (up 0.61%), One 97 Communications Paytm(up 0.46%), AAVAS Financiers (down 0.41%), Aditya Birla Real Estate(up 1.63%), Acevector, Aegis Logistics (down 2.07%), Aequs, (up 2.57%), Astec Lifesciences(down 3.34%), Ather Energy(down 0.01%), Eris Lifesciences(down 0.34%), Indian Overseas Bank(up 1.53%), LEAP India(down 0.49%), Bank of Maharashtra(up 0.08%), Mankind Pharma(up 2.17%), Nazara Technologies(up 0.26%), REC, (down 0.07%)Sona BLW Precision Forgings(up 2.76%) and WeWork India Management (down 1.11%) will declare their results later today.

Buzzing index:

The Nifty IT Index declined 31,599.45. The index dropped 2.54% in the three consecutive trading sessions.

Infosys (down 1.13%), HCL Technologies (down 0.63%), Wipro (down 0.59%), LTM (down 0.56%).

Stock in Spotlight:

RailTel Corporation of India fell 2.52% after the company?s standalone net profit declined 9.87% year-on-year to Rs 68.56 crore in Q2 FY27, compared with Rs 76.07 crore in Q2 FY26. Revenue from operations rose 20.47% YoY to Rs 1,146.14 crore in Q2 FY27 from Rs 951.36 crore in the corresponding quarter last year.

Apollo Micro Systems jumped 7.85% after reporting strong consolidated financial results for the September quarter of FY27. Net profit climbed 53.7% year on year to Rs 46.15 crore from Rs 30.03 crore in Q2 FY26. Sequentially, net profit rose 83% from Rs 25.22 crore in Q1 FY27. Revenue from operations rose 72.3% year on year to Rs 388.15 crore in Q2 FY27 from Rs 225.26 crore in Q2 FY26. Revenue increased 54.5% quarter on quarter from Rs 251.29 crore in Q1 FY27.

Powered by Capital Market - Live News