Risk-off Mood Pervading Equity Market On Weak Global Cues

Equity markets in India started the last trading session of the week a little soft, as investors adopted a wait and watch approach with global cues week and a shaky start to the earnings season. Tata Consultancy Services, which reported its earnings on Thursday saw its margins narrow on a sequential basis and missed analyst expectations on the revenue front. The management attributed this to the viciousness of the second wave of the pandemic. Brokerages broadly remain positive and after losing ground in the early minutes of the session the counter recovered to trade 0.5% in the green. The market breadth overall favoured the gainers, but there weren’t too many big movers among the heavyweights. In fact, Reliance Industries, losing 0.8% in early trade, proved a drag. The broader markets continued to outperform the benchmarks, with the mid- and small-cap index gaining 0.3% each. Metals outperformed early on, with the index gaining over a percent at one stage.

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting