The Sensex and the Nifty rallied more than a percent in their biggest single-day gains in a month. About 2,015 shares advanced, 1,539 declined and 155 remained unchanged
Tatva Chintan Pharma Chem (Tatva) continued its poor performance in Q2FY22-23. Revenue declined by 27% y-o-y (year-on-year) to Rs90 crore because sales of SDA (structure directing agent) declined by 88% y-o-y on disruption in auto production due to chip shortage and 50% drop in sales of heavy-duty diesel engine commercial vehicles (CVs) in China.
Indian equities saw ferocious selling by foreign institutional investors (FIIs) amid the ongoing global economic concerns of crude and gas price hikes, rising inflation, and currency depreciation against the US dollar. Only in the first eight months of 2022 till August 31, FIIs have sold shares worth Rs 2.68 lakh crore in the Indian equity market.