“On Tuesday we may see a range-bound reaction based on the mixed result, but post that and definitely in the next two-three days, other IT giants are also reporting their numbers and based on that, overall sector movement will be decided after these two-three key results comes out along with management commentary.”

While price-earnings multiples have come down from their peaks during the pandemic, many of the market’s biggest names continue to look expensive. At the same time, the profit outlook is weakening and the economy could be headed toward a recession as the Federal Reserve aggressively raises interest rates to combat inflation.

The stock snapped a six-day winning streak on Monday. During this period, the stock rose by a whopping 33%. This may have prompted the investor to book some profits.The gains in the last session notwithstanding, the stock has been a major laggard in 2022. Its value has more than halved last year and it hit an over two-year low of Rs 31.10 in December.

The clarification came after stock exchanges and market participants sought clarification as to whether payment mechanisms other than RTGS provided by banks or payment aggregators can be permitted for settlement of trades executed on the RFQ platform.

Tata Consultancy Services, a prominent IT company, was 3% higher, ahead of its third-quarter results. Early trading saw gains of more than 1% in both the IT and metal indexes.

In the event of a disruption in trading due to an outage in one or more market segments of the stock exchange, the other unaffected segments of the exchange shall continue the trading and other operations.