Sensex Down 200 Pts; Axis Bank Up 3%, Kotak Bank Tanks 9%

Equity benchmark indices started Thrusday’s trading session on a negative note as global mood turned cautious following lower-than-expected revenue guidance by Meta.

Back home, the futures & options monthly expiry is likely to guide market trading sentiment.

The S&P BSE Sensex opened 280 points, and was seen quoting around 73,650 levels. The NSE Nifty 50 was hovering close to 22,300 levels.

Among the Sensex 30 shares, Axis Bank gained 3 per cent on reporting profit of Rs 7,129 crore in Q4 as against a loss in the corresponding quarter a year ago. HCL Technologies, HDFC Bank and ITC were the other notable gainers.

Kotak Bank plunged over 9 per cent to Rs 1,673 after the Reserve Bank of India (RBI) barred the private lender from issuing new credit cards. Analysts have now turned bearish on the Kotak Bank stock.

Hindustan Unilver, Titan, Bajaj Finserv and Asian Paints were the other notable losers.

Overnight, in US market ended on a flat note, but futures declined up to 1 per cent in post market trade as Meta stock plunged 16 per cent on weaker-than-expected revenue guidance.

Tonight, apart from the big tech earnings, US investors will also seek direction the GDP numbers.

Near home this morning, Nikkei, Straits Times, Taiwan and Kospi were down around 1 per cent each.