Indian Stocks News Today: Nifty Below 17,600; Oil & Gas Slumps

Indian Stocks News Today: Nifty Below 17,600; Oil & Gas Slumps

Domestic equity barometers pared early gains in morning trade, according to the Indian stocks news today. In morning trade, the Nifty reached a high of 17,709.15 before falling below 17,600. For the fourth time in a row, oil & gas stocks fell. As of 10:30 IST, the barometer index, the S&P BSE Sensex, was down 26.92 points or 0.05% to 59,303.98. At 17,584.75, the Nifty 50 index was down 19.60 points or 0.11%.

The S&P BSE Midcap index fell 0.25%, while the S&P BSE Smallcap index rose 0.12%. Negative market breadth was reported as per the Indian stocks news today. BSE shares rose 1,587 and fell 1,662. Shares were unchanged on 188 occasions. NSE’s India VIX, a measure of the market’s expectation of volatility over the near term, rose 6.01% to 18.36.

Indian Stocks News Today: The Results

The following are the results of the stocks market after it opened:

Stocks On The Greener Side

  • Tech Mahindra (TECHM): Up by 0.92%
  • Bharat Petroleum Corporation (BPCL): Up by 0.12%
  • Bajaj Finserv (BAJAJFINSV): Up by 2.79%
  • Bajaj Holdings & Investment (BAJAJHLDNG): Up by 1.40%
  • Emkay Global Financial Services (EMKAY): Up by 4.84%
  • Laurus Labs (LAURUSLABS): Up by 0.20%
  • Mazagon Dock Shipbuilders (MAZDOCK): Up by 1.75%
  • Nippon Life India Asset Management (NAM-INDIA): Up by 0.87%
  • Punjab National Bank (PNB): Up by 1.67%
  • REC Limited (RECLTD): Up by 0.91%

Stocks On The Reddish Side

  • Larsen & Toubro (L&T): Down by 1.23%
  • CSB Bank Limited (CSBBANK): Down by 1.47%
  • Exide Industries (EXIDEIND): Down by 0.96%
  • GAIL India Limited (GAIL): Down by 1.16%
  • Inox Leisure (INOXLEISUR): Down by 3.20%
  • SRF Limited (SRF): Down by 0.78%
  • Welspun India Limited (WELSPUNIND): Down by 0.51%

Only Trident Limited (TRIDENT) was flat today. For more such latest stock updates, visit

What Are The Buzzing Index In The Indian Stocks News Today?

In its fourth session of losses, the Nifty Oil & Gas index fell 3.59% to 7,670.40. It lost 11.15% in four sessions.

Among the companies that declined were Adani Total Gas (down 20%), Petronet LNG (down 2.39%), Oil & Natural Gas Corpn (down 1.42%), Oil India (down 1.19%), GAIL (India) (down 1.06%), Indraprastha Gas (down 0.89%), Hindustan Petroleum Corporation (down 0.81%), Gujarat Gas (down 0.66%), Castrol India (down 0.17%), and Bharat Petroleum Corporation (down 0.07%).

In contrast, Aegis Logistics (up 8.3%), Gujarat State Petronet (up 2.84%), and Mahanagar Gas (up 1.8%) rose.

What Are The Earnings Impact?

The CARE Ratings declined by 2.37%. Net profit rose by 44% to Rs 21.40 crore in Q3 FY23 over Q3 FY22 on an increase of 18% in total income. From Rs. 14.93 crores in the same period last year, operating profit rose by 49% to Rs. 22.25 crores in the third quarter. A dividend of Rs 10 per share has been declared by the board of directors for the third quarter of FY23, as per the Indian stocks news today.

In Q3 FY23, Aarti Drugs’ consolidated net profit dropped 37.1% to Rs 36.69 crore from Rs 58.29 crore in Q3 FY22, a decline of 3.99%. Revenue for the quarter ended 31 December 2022 was Rs 663.96 crore, up 4.6% from Rs 634.80 crore in the corresponding quarter last year.

As opposed to Rs 4.34 crore posted in Q3 FY22, Hi-Tech Pipes’ consolidated net profit soared 199.65% to Rs 13.02 crore in Q3 FY23. Indian stocks news today stated that in the quarter that ended 31 December 2022, revenue from operations decreased 4.89% year-over-year to Rs 569.28 crore.

In Q3 FY23, AGI Greenpac’s net profit soared 80.7% to Rs 53.23 crore from Rs 29.45 crore in Q3 FY22, a surge of 8.45%. The company’s revenue from operations in the quarter that ended 31 December 2022 increased by 43% on a YoY basis. Due to a better product mix, and an increase in demand from non-alcoholic beverages, packed food, and beer segments for the glass containers products, sales and profitability improved on a YoY basis, mentioned in the Indian stocks news today.

That is all for today. Hope this will be helpful for your investment plans this week and in the coming weeks. However, there is a small disclaimer. Investing tips and views expressed by investment experts on Newsmagnify.com are their own and not those of the website or its management. Before making any investment decisions, News Magnify recommends users check with certified experts.

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