HomeOpening Bell: Titan, HUL, Kotak Bank drag Nifty below 16,600

Opening Bell: Titan, HUL, Kotak Bank drag Nifty below 16,600

Sensex and Nifty began Tuesday's session on a negative note amid a steep rise in oil prices. Investors will closely monitor Q4 GDP growth data amid soaring inflation and muted industrial output. Sun Pharma, HDFC, Infosys, HCL Tech, Titan, Kotak Bank, Wipro, TCS and Tech M were the top laggards among the Sensex-30 pack.

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By CNBCTV18.com May 31, 2022, 9:49:07 AM IST (Published)

Opening Bell: Titan, HUL, Kotak Bank drag Nifty below 16,600
Indian equity benchmark indices began Tuesday's session on a negative note amid a steep rise in oil prices.


Investors will closely monitor Q4 GDP growth data amid soaring inflation and muted industrial output.



At 9:16 am, the 30-scrip benchmark S&P BSE Sensex was down 306.20 points or 0.55 percent at 55,619.54, and the broader Nifty shed 84.30 points or 0.51 percent at 16,577.10.

Mahindra and Mahindra, ONGC, Tata Steel, Power Grid, Apollo Hospitals were among the top gainers on Nifty.



Sun Pharma, HDFC, Infosys, HCL Tech, Titan, Kotak Bank, Wipro, TCS and Tech M were the top laggards on both the indices.

In the broader markets, the BSE MidCap and SmallCap indices opened flat.

Investors will also take note of the March quarter results of LIC, Delhivery, Sun Pharma and several others.

The state-run insurance giant LIC reported a 39.4 percent growth in profit at Rs 4,043.12 crore in FY22 from Rs 2,900.56 crore in FY21. Net profit for the quarter ended March 2022 stood at Rs 2,371.55 crore.

Delhivery has reported an EBITDA of Rs 81 crore in Q4FY22 as against a net loss of Rs 40 crore. Total income more-than-doubled to Rs 2,072 crore from Rs 1,003 crore.

Global Markets

Oil prices continued to rise in early Asian trade on Tuesday after the European Union said it had agreed to cut 90 percent of oil imports from Russia by the end of this year. Brent Crude futures were above $122 a barrel this morning.

The US markets were shut for trading on Monday; however, the futures this morning were seen trading with losses up to 0.5 percent. Elsewhere in Asia, Nikkei, Kospi and Taiwan were down up to 0.6 percent.

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