BSE Smallcap Gains; Financials, Auto, FMCG Drag; Sensex Drags 250 Pts To 78,000

Benchmark equity indices BSE Sensex and Nifty50 were trading lower on Thursday, February 6, amid mixed global cues.

At 11 AM, the BSE Sensex was lower by 166.43 points, or 0.21 per cent, at 78,104.85, and the Nifty50 was at 23,641.55, behind by 54.75 points, or 0.23 per cent.

After the opening bell, the Nifty Auto, FMCG Consumer Durables, Realty, and Metal indices were trading in the red, with the Nifty Bank also marginally lower by 0.02 per cent. In contrast, the Nifty Pharma, Oil & Gas, Healthcare, Media and IT indices were trading higher.

Separately, after internet company Info Edge largely topped expectations in the December quarter (Q3FY25) results, posting strong revenue and profit growth, brokerages are generally optimistic about Info Edge’s future prospects.

The company’s continued strength in recruitment billings, especially in the IT and non-IT sectors, has fuelled growth, with double-digit growth in recruitment billings for two consecutive quarters, analysts said.

Apart from that, Nasdaq-listed IT services major Cognizant met its revenue guidance for the fourth quarter of calendar year 2024. The company guided for revenue growth for 2025 in the range of 3.5 per cent to 6 per cent in constant currency terms. The guidance is stronger than 2024, reflecting improving market conditions. Moreover, the company’s performance and guidance is also considered as a benchmark for the Indian IT sector by many investors and analysts.

Elsewhere, shares of GAIL (India), Oil and Natural Gas Corporation (ONGC), NLC India, Nestle India, Marico, Computer Age Management Services (CAMS), and 21 other companies are expected to remain in focus during today’s trading session after the companies announced interim dividends for their shareholders. According to BSE data, these companies’ shares are set to trade ex-dividend tomorrow, Friday, February 7, 2024.