Asian Paints declined 6.29% to Rs 2,969.50 after the company posted a 28.2% decline in consolidated net profit to Rs 595.96 crore in Q2 FY22
Nifty PSU Bank led the sectoral pack on the NSE with gains of 2.73% followed by Nifty Bank adding 1.30% to end above the 40,000.
Barring the Nifty IT (down 0.46%) index all other sectoral indices were trading with gains. Nifty Realty was the top gainer as it rallied 1.14%.
Overseas, Asian stocks are trading mixed on Thursday, as investors monitored shares of developer China Evergrande Group in Hong Kong.
The selloff in the broader markets was much severe compared to benchmark indices as BSE MidCap & BSE SmallCap indices were tanked around 2%.
In opening trades Sensex was trading at 61,779 higher by 63 points or 0.10%. While the Nifty 50 rose 21 points or 0.11% to 18,439.
The broader markets clearly witnessed profit booking in several top-performing Midcap names during the day.
IRCTC Share Price: In the past one month, IRCTC has surged 63.69% against a 5.33% rise in the Sensex.
Life Insurance Corporation of India (LIC) sold 8,28,02,533 equity shares or 2.01% stake in SAIL.
Investors can buy ITC, Maruti, Pidilite, PI Inds, HDFC Life for good returns to investors in the next 12 months.