MARKET LIVE: Sensex tests 60K, down 750 pts; Nifty nears 17,850

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The S&P hovered around the 60,000-mark, and was down around 700 points. The languished below the 17,900 level.
 
In the broader market, the BSE MidCap and SmallCap indices declined up to 0.8 per cent.

Sectorally, the Nifty PSU Bank index dropped 2.2 per cent, followed by the Nifty IT index (down 1.6 per cent). On the upside, the Nifty Auto added 0.7 per cent.

Among individual stocks, shares of (Tata Consultancy Services) dropped over 2 per cent on mixed December quarter results. reported 11 per cent year-on-year (YoY) growth in net profit, and revenue for the quarter came in at Rs 58,229 crore, up 19.1 per cent YoY in reported terms and 13.5 per cent YoY in constant currency terms. 

That apart, Tata Motors’ shares surged over 6 per cent. The retail sales of automaker Jaguar Land Rover rose 5.9 per cent YoY in Q3FY23 reflecting a “gradual improvement in chip supplies”. CLSA has upgraded the stock to ‘buy’.

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