The domestic equity indices extended their losing streak for the third consecutive session on Thursday, with major indices closing significantly lower despite a promising start to trading. The Nifty50 index, which opened strong above the 25,000 mark, quickly reversed course in early trading hours. The benchmark eventually closed below 24,750 points. Sector-wise, realty, automobile, and consumer durables stocks led the downward trend. However, IT and public sector bank shares showed resilience, emerging as outliers in an otherwise bearish market. Market volatility was particularly pronounced due to the scheduled expiry of weekly index options.

The Indian rupee traded in a narrow range and settled for the day lower by 5 paise to 84.07 (provisional) against the US dollar on Thursday, pressured by foreign fund outflows, a negative trend in domestic equities and broad strength of the American currency. The BSE 30-share Sensex dropped 494.75 points, or 0.61 percent, to end at 81,006.61, extending losses for a third straight session. Similarly, the broader NSE Nifty index ended at 24,749.85, down 221.45 points, or 0.89 percent, from its previous close. The domestic currency witnessed range-bound trade as weak domestic markets and a strong US dollar weighed on the domestic currency, while a decline in crude oil prices and contained geopolitical tensions cushioned the downside. At the interbank foreign exchange market, the local unit opened at 84.01 and traded in a narrow range of 83.99 and 84.07 and finally settled for the day at 84.07 (provisional), lower by 5 paise over its previous close of 84.02.

At meeting held on 17 October 2024

LTIMindtree’s consolidated net profit jumped 10.3% to Rs 1,251.6 crore in Q2 FY25 as compared with Rs 1,135.1 crore in Q1 FY25.

Sales decline 0.95% to Rs 22301.60 crore