Share Market LIVE: Sensex crashes 1000 pts, Nifty below 17,250; Infosys tanks 6%

The domestic equity market settled the truncated week in the red as uncertainty over rising inflation and a firm US dollar weighed sentiment. 

The benchmark BSE Sensex plunged 1108.25 points or 1.9 per cent to 58338.93 on April 13. The index was at 59447.18 on April 8, 2022. The 50-share NSE Nifty index dipped 1.7 per cent to 17,475.65 during the same period.

Stock exchanges were closed on April 14 and April 15 on account of public holidays.

What's next? Here are the latest updates!

9:30 am: Infosys shares tank 9% post Q4 results

India's second-biggest IT services major Infosys Ltd on Wednesday reported a 12 per cent year-on-year (YoY) rise in its consolidated net profit at Rs 5,686 crore for the quarter ended 31 March, 2022. The Bengaluru-based company had reported a net profit of Rs 5,076 crore in the year-ago period.

Sequentially, the IT behemoth reported 2.1 per cent decline in the current quarter Q4FY22 from Rs 5,809 crore in Q3FY22.

Revenue from operations rose 22.6 per cent to Rs 32,276 crore from Rs 26,311 crore in the same quarter last fiscal.

Revenues in dollar terms stood at $4,280 million, up 18.5 per cent YoY. Revenues were up 1.2 per cent sequentially (20.6 per cent YoY) in constant currency terms. 

The company also stated that it delivered $16.3 billion in revenues with the highest annual growth in the last decade of 19.7 per cent in constant currency with a robust operating margin of 23 per cent.

9:16 am: Market opening.

Sensex crashed over 1000 points and Nifty fell over 250 points amid weak global cues. Infosys was the top loser on Sensex, declining over 6 per cent.

8:45 am:  FII and DII action

Foreign institutional investors (FIIs) sold shares worth Rs 2,061.04 crore on April 13, and domestic institutional investors (DIIs) bought shares worth Rs 1,410.85 crore, as per provisional data available on NSE.

8:40 am: Global updates

Wall Street stocks finished lower while bond yields and the dollar rose on Thursday as investors worried about the potential for aggressive US policy tightening as other central banks around the world moved to reduce support.

The benchmark 10-year US Treasury yield jumped, following two days of declines, after a flurry of US economic data such as retail sales and jobless claims and the European Central Bank's announcement of less aggressive than expected tightening plans.

The Dow Jones Industrial Average fell 113.36 points, or 0.33 percent, to 34,451.23 while the S&P 500 lost 54 points, or 1.21 percent, to 4,392.59 and the Nasdaq Composite dropped 292.51 points, or 2.14 percent, to 13,351.08.

Shares in Asia largely slipped in Monday morning trade as investors await Chinese economic data, including the economic powerhouse’s first-quarter gross domestic product figures.

In Japan, the Nikkei 225 fell 1.77 percent in morning trade as shares of Fast Retailing and SoftBank Group declined more than 1 percent each. The Topix index shed 1.64 percent.

Mainland Chinese stocks were also lower, with the Shanghai composite down about 1 percent and the Shenzhen component shed 1.484 percent.

8:30 am: SGX Nifty

The Indian equity market is likely to open lower today as SGX Nifty was trading 244 points lower at 17,261.20.

The Singapore Stock Exchange is considered to be the first indication of the opening of the Indian market.

8:15 am: Market on Wednesday

The benchmark indices wiped out early gains and settled lower for the third day in a row on Wednesday, with the Sensex falling over 237 points, pulled down by HDFC twins amid persistent foreign fund outflows and mixed global trends.

Sensex failed to hold the early gains and declined 237.44 points or 0.41 per cent to settle at 58,338.93. During the day, it tanked 285.14 points or 0.48 per cent to 58,291.23.

Likewise, the NSE Nifty dipped 54.65 points or 0.31 per cent to finish at 17,475.65.

From the 30-share Sensex pack, HDFC, HDFC Bank, Maruti, Dr Reddy's, Asian Paints, Bajaj Finserv, PowerGrid and Kotak Bank were among the major laggards.

In contrast, ITC, Sun Pharma, Hindustan Unilever Limited, State Bank of India and NTPC were among the prominent gainers.