Financials drag Indian shares; Bajaj Finance plunges

Bajaj Finserv

30/01/2024 07:34

** India's benchmark index Nifty 50  .NSEI  down 0.3% and 
BSE S&P Sensex  .BSESN  falls 0.4%, as a plunge in Bajaj Finance
weighs on high-weightage financials
    ** Nifty financial services index  .NIFTYFIN , the sub-index
with highest weightage on the Nifty, falls 0.5%, with 10 of its
20 members trading in the red 
    ** Bajaj Finance  BJFN.NS  top loser on Nifty 50, down 4.7%
after it reported Q3 profit that missed analysts estimates, hurt
by a lending tool ban and higher provisions 
    ** Index heavyweights Reliance Industries  RELI.NS  and HDFC
Bank  HDBK.NS , which jumped 7% and 1.4%, respectively, in
previous session, drop 1.6% and 0.8%, weighing on benchmarks
    ** Markets are on the lookout for Fed commentary for cues on
U.S. rate cuts, and India's federal budget due on Thursday 
    ** Nifty IT index  .NIFTYIT  trims losses, now up 0.7% 
    ** Nifty Oil and Gas index  .NIFOILGAS  up 1.3%, led by a
4.4% rise in BPCL  BPCL.NS  as co reports bigger-than-expected
Dec. quarter profit    
    

 (Reporting by Manvi Pant in Bengaluru)
 ((Manvi.Pant@thomsonreuters.com; +918447554364;))