As per provisional closing data, the barometer index, the S&P BSE Sensex, fell 109.94 points or 0.20% at 54,208.53. The Nifty 50 index fell 2.85 points or 0.02 % at 16,256.45.

In the broader market, the S&P BSE Mid-Cap index fell 0.13% while the S&P BSE Small-Cap index rose 0.33%.

The market breadth was positive. On the BSE, 1,920 shares rose and 1,429 shares fell. A total of 117 shares were unchanged.

Earnings Impact:

Indian Oil Corporation (IOCL) slipped 4.90% to Rs 118.30 after the company reported 31.4% fall in standalone net profit to Rs 6021.88 crore despite a 43.2% increase in net sales to Rs 1,77,287.31 crore in Q4 FY22 over Q4 FY21. Total expenses increased by 29.5% YoY to Rs 1,99,327.91 crore during the quarter.

DLF declined 2.66% to Rs 325.25. The realty major reported 15.7% fall in consolidated net profit to Rs 405.33 crore on a 9.7% decline in net sales to Rs 1,547.26 crore in Q4 FY22 over Q4 FY21. Profit before tax stood at Rs 307.30 crore in the fourth quarter, down by 26.5% from Rs 418.15 crore in the same period last year. The company reported a 6.3% decline in total expenditure to Rs 1,179.72 crore in Q4 FY22 over Q4 FY21.

PI Industries jumped 3.69% to Rs 2616.05 after the company reported 14% rise in consolidated net profit to Rs 204.4 crore on a 17% increase in revenue to Rs 1,395.2 crore in Q4 FY22 over Q4 FY21. The revenue growth of driven by price increase of approximately 7% and balance from volume growth. While exports grew by 11% over a high base, domestic revenues jumped 47% in Q4 FY22 over Q4 FY21.

Jubilant Ingrevia declined 3.90% to Rs 459 after the company reported 28% decrease in consolidated net profit of Rs 69 crore in Q4 FY22 compared with net profit of Rs 95 crore in Q4 FY21. During the quarter, total revenue from operations stood at Rs 1,296 crore in Q4 FY22, reporting a growth of 20% from Rs 1,078 crore in Q4 FY21.

NOCIL jumped 4.67% to Rs 254.60 after the company's consolidated net profit surged 85% to Rs 69 crore on a 44% jump in net revenue from operations to Rs 463 crore in Q4 FY22 over Q4 FY21. The company said that the selling price increase continues to offset input price rise with a time lag and to compensate for the higher freight cost as well as utilities impact.

Dr. Lal PathLabs tumbled 6% to Rs 2054.05 after the company reported 26.5% fall in consolidated net profit to Rs 61.3 crore in Q4 FY22 compared with the net profit of Rs 83.4 crore in Q4 FY21. Net sales stood at Rs 485.5 crore for the quarter ended 31 March 2022 as against Rs 431 crore during the same period in the previous year, registering a growth of 12.65%.

EID Parry (India) fell 1.66% to Rs 491.50. The company after market hours on Tuesday reported a sharply higher consolidated net profit of Rs 302.52 crore in Q4 FY22 as compared to a consolidated net loss of Rs 1.62 crore in Q4 FY21. Net sales stood at Rs 5,667.34 crore for the quarter ended 31 March 2022 as against Rs 3,876.68 crore during the same period in the previous year, registering a growth of 46.2%.

Nucleus Software Exports surged 10.53% to Rs 436 after the company's consolidated net profit surged 112.2% to Rs 18.72 crore in Q4 FY22 from Rs 8.82 crore in Q3 FY22. Revenue from operations increased 28.7% QoQ to Rs 140.72 crore during the quarter. Total expenses rose 11.9% to Rs 119.84 crore in Q4 FY22 over Q3 FY22.

Indian Overseas Bank advanced 4.12% to Rs 17.70 after the bank's net profit rose 57.9% to Rs 552.38 crore despite a 5.8% fall in total income to Rs 5,718.68 crore in Q4 March 2022 over Q4 March 2021. The bank's profit before tax (PBT) increased by 74.7% to Rs 400.19 crore in Q4 March 2022 over Q4 March 2021.

Galaxy Surfactants rallied 4.44% to Rs 2,702.95 after the company posted a 25.1% rise in consolidated net profit to Rs 98.4 crore on a 34.4% rise in net sales to Rs 1,052.94 crore in Q4 FY22 over Q4 FY21. Consolidated profit before tax surged 33.7% to Rs 124.36 crore in Q4 FY22 from Rs 93.02 crore in Q4 FY21. EBITDA for Q4 FY22 stood at Rs 146.2 crore as against Rs 120 crore in Q4FY21, registering a growth of 22% on a YoY basis. EBITDA margin stood at 13.9% in Q4 FY22 from 15.3% in Q4 FY21.

Global Markets:

The Dow Jones Futures were down 41 points, indicating a negative start to the US market.

Shares in Europe and Asia advanced on Wednesday following overnight comments from U.S. Federal Reserve Chairman Jerome Powell, who said he's resolved to raise rates until inflation comes down.

On the macro front, Japan's economy shrank 1% on an annualized basis in January-March as compared with the previous quarter, data showed Wednesday.

In the US, consumer spending on retail rose 0.9% in April, according to the U.S. Census Bureau. Retail sales excluding autos rose 0.6% in April.

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