Below are Indian shares opened on a negative note tracking weakness in other markets By Mr. Keshav Lahoti, Associate Equity Analyst, Angel Broking Ltd

“Indian shares opened on a negative note tracking weakness in other markets and worries over new pandemic restrictions in China. Correction increased during the day and the market closed down by 1.5%. Correction was all across the sectors except Auto and IT sectors which so far have delivered numbers above street expectation. On the other hand, BFSI sectors have reported numbers below street expectation. Bajaj Auto closed up by 10.4% as it posted the highest ever profit-after-tax for a quarter. Bandhan Bank closed down by 7.8% on reporting a 13 percent fall in Q3 net profit on higher provisions. Due to weak quarterly numbers by banking companies, Nifty Bank closed down by 3.2%. Global cues were weak: Dow Futures, Nasdaq Futures and FTSE were down 0.8%, 0.5% and 0.6% respectively.”

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