While the muted growth in Q3FY22 is likely to be blamed on furloughs, JP Morgan said Q4 will be weak as well, due to macro concerns and delays in decision-making driving flatter tech budgets and delayed deal closures.
Multiplex chain PVR said that the Supreme Court ruling has established clarity, removes ambiguity around the issue and the judgement will ensure all businesses are treated fairly.
Lending oil some support, the dollar weakened on Wednesday after posting big gains in the previous session. A weaker dollar typically boosts demand for oil as dollar-denominated commodities become cheaper for holders of other currencies.
The overall tone of the minutes is still likely to show inflation has top billing among policymakers. It has been slowing for several months, but as of November the Fed’s preferred inflation gauge – the personal consumption expenditures price index – was still rising at a 5.5% annual rate, more than twice the U.S. central bank’s 2% target.
Mahindra and Mahindra Financial Services said on Wednesday the Reserve Bank of India lifted curbs placed on the company last year that had prevented it from using third-party services for loan recovery.
Euro zone government bonds likewise extended their rally from the first two trading days of 2023, with the benchmark German 10 year yield sliding 10 basis points on signs central banks are making progress against inflation.
However, Marico expects gross and operating margins to improve in the quarter as key input costs and consumer prices across key franchises saw some stability.
The 30-share BSE Sensex closed down 636.75 points at 60657.45
Option data suggests a broader trading range between 17,800 and 18,500 zones with an immediate trading range between 17,900 and 18,250 zones.
The Nifty IT index closed 0.98 per cent down at 28677.8.