Ten prominent companies are set to announce their financial performances for the fourth quarter of the fiscal year 2023-24 (Q4 FY24) today.
Among these companies are ICICI Lombard General Insurance Company, Tata Communications, Just Dial, Angel One, DRA Consultants, Gretex Corporate Services, Hardcastle & Waud Mfg. Co., Hathway Cable & Datacom, Infomedia Press, and KCL Infra Projects.
However, due to the observance of Ram Navami, the Indian stock market remains closed, delaying the immediate response to these releases.
The anticipated reaction to these financial disclosures is expected to be released on Thursday, April 18.
The fiscal outlook for India Inc. in the last quarter of FY24 is speculated to exhibit moderate earnings, primarily propelled by domestic cyclicals like automotive and BFSI (Banking, Financial Services, and Insurance).
While global cyclicals such as oil & gas and metal are forecasted to lag behind. This comes amidst a backdrop of continued market tumult, characterized by significant sell-offs in IT stocks, exacerbated by weak global market trends and apprehensions surrounding escalating tensions in the Middle East.
The day witnessed the 30-share BSE Sensex plunging by 456.10 points to settle at 72,943.68.
At its lowest, the index plummeted by 714.75 points to hit 72,685.03. Similarly, the NSE Nifty recorded a decline of 124.60 points, closing at 22,147.90.
Sectoral indices depicted a mixed bag, with IT saw a sharp decline of 2.32 per cent, followed by teck (2.09 per cent), bankex (0.50 per cent), metal (0.36 per cent), capital goods (0.26 per cent), and commodities (0.24 per cent).
Conversely, sectors such as energy, consumer discretionary, healthcare, industrials, consumer durables, oil & gas, and power experienced gains.
The overall market capitalization (mcap) of BSE-listed companies faced a substantial erosion, shedding ₹7,93,529.61 crore to reach ₹3,94,25,823.46 over a span of three days.
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