Indian markets were more than half a percent lower on Wednesday before the Supreme Court hearing on a series of petitions seeking a waiver of interest on loans during the moratorium period.
Among the major indices, the S&P BSE Sensex fell 250 points to 40,360 levels and the Nifty50 index dropped 11,850 levels. NTPC (down 4%) was Sensex’s top laggard, followed by ONGC and PowerGrid (both down 2%). On the other hand, Bajaj Finserv and Bajaj Auto each earned 1 percent.
Meanwhile, Wipro fell 6 percent despite improving its performance in the second quarter of fiscal 21 on various parameters. Karnataka Bank, on the other hand, was up 5 percent after announcing its September quarter results.
All of the Nifty industry indices except the Nifty Pharma index were trading in the red, led by the Nifty Bank index with a 0.94 percent drop.
In the broader market, the S&P BSE MidCap and SmallCap indices fell 0.2% each.
A total of 16 companies, including Infosys, Tata Elxsi and Den Networks, are scheduled to report their September quarter earnings today. Infosys is expected to report a strong set of numbers for the quarter, primarily led by rising earnings from large deals. . READ MORE
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