Sensex Falls Below 61,200, Nifty Near 18,300. Jhunjhunwala-backed Metro Brands Hits Upper Circuit

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New Delhi: BSE Sensex was trading at 61,198, down 25 points as of 1:40 PM on Monday. 15 out of 30 stocks under the index were trading in red. HCL shares were down 5.6 per cent and were trading at Rs 1,261.8. On the other hand, auto and bank stocks were showing a strong performance. Shares of Maruti were up by 2.17 per cent and were trading at Rs 8,257.8, as per Read – Budget 2022: Finance Ministry Looking To Slash Subsidy Bill. Fiscal Target Likely To Be 6.8 Per Cent

Nifty50 was holding at 18,270, up by 14 points from the previous close. In Nifty50, 29 shares were trading in green. Nifty Bank was trading in red. However, shares of Hero Moto Corp were up 5.5 per cent, according to data on Also Read – LIC IPO: Timeline, Numbers May Be Revealed In Budget 2022

Rakesh Jhunjhunwala-backed Metro Brands was showing a stellar performance. The shares of the company hit an upper circuit after rising 20 per cent. They were trading at Rs 609.5, 101 points above the previous close. The company showed a strong performance in the quarterly results, showing a profit growth of 54.6 per cent at Rs 100.85 core. Also Read – Budget Could Consider Levying TDS/TCS On Crypto Trading, Make It Reportable in SFT

Also, shares of Adani Green Energy were up 7 per cent and were showing a solid profit of Rs 133 per share. Bank shares, mostly of private banks, were performing poorly. Axis Bank, Kotak Bank, HDFC Bank, ICICI Bank, all were trading in red.

On the brighter side, the shares of Larsen and Toubro, TCS and Infosys were trading at yearly highs. TCS was trading above Rs 4,000 at Rs 4,015. and L&T was up by 0.4 per cent at Rs 2,054.

LIC IPO, which is expected to hit the bourses by the end of current fiscal, was also in the headlines today. According to a report by ET, the details of the biggest IPO of the country till date, may be announced during the Budget 2022 speech by FM Niramala Sitharaman.

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