Key benchmark indices reversed early gains and hit fresh intraday low in morning trade. Weakness in IT major Infosys put pressure on the bourses. The Nifty slipped below the 11,650 level. At 10:22 IST, the barometer index, the S&P BSE Sensex, was down 168.53 points or 0.43% at 39,129.85. The Nifty 50 index was down 27.60 points or 0.24% at 11,634.25.

In the broader market, the S&P BSE Mid-Cap index was up 0.44%. The S&P BSE Small-Cap index rose 0.40%. Both these indices outperformed the Sensex.

The market breadth, indicating the overall health of the market, was positive. On the BSE, 1067 shares rose and 760 shares fell. A total of 135 shares were unchanged.

Axis Bank (up 1.09%), Bajaj Finserv (up 0.81%), Bajaj Finance (down 0.26%), Kotak Mahindra Bank (down 0.67%) and Asian Paints (down 1.12%) will unveil their quarterly results today, 22 October 2019.

Infosys was down 13.19% to Rs 666.50. The IT major said the company has received anonymous whistleblower complaints alleging certain unethical practices. These have been placed before the audit committee as per the company's practice and will be dealt with in accordance with the company's whistleblower policy. The announcement was made on Monday, 21 October 2019.

Infosys' American depository receipt (ADR) listed on the New York Stock Exchange slumped 12.11% on Monday.

The Nifty IT index was down 3.41% at 14,885.25, reversing previous session's gains. MphasiS (down 2.86%), Hexaware Technologies (down 1.8%), HCL Technologies (down 1.26%), Tech Mahindra (down 0.84%), Persistent Systems (down 0.66%), MindTree (down 0.63%) and Oracle Financial Services Software (down 0.03%) declined.

Wipro (up 1.73%) and TCS (up 1.09%) advanced.

In the foreign exchange market, the partially convertible rupee edged higher. It was hovering at 70.9325, compared with its close of 71.145, during the previous trading session.

Tata Elxsi was down 0.90% to Rs 701.85. The company's consolidated net profit rose 7.45% to Rs 29.83 crore on a 4.42% increase in net sales to Rs 231.28 crore in Q2 September 2019 over Q1 June 2019. The result was announced on Monday, 21 October 2019.

AU Small Finance Bank added 3.19% to trade at Rs 675.20. The bank's net profit rose 88.1% to Rs 171.94 crore on a 46.9% increase in total income to Rs 1184.21 crore in Q2 September 2019 over Q2 September 2018. The result was announced on Monday, 21 October 2019.

The bank's gross non-performing assets (NPAs) stood at Rs 503.84 crore as on 30 September 2019 as against Rs 485.70 crore as on 30 June 2019 and Rs 371.04 crore as on 30 September 2018.

Adani Green Energy (AGEL) was down 3.79% to Rs 86.30, on profit booking after recent steep gains. AGEL has commissioned 50 MW wind energy generation capacity on 20 October 2019 having power purchase agreement with SECI for a period of 25 years. Adani Green Energy, through its subsidiaries, is implementing 725 MW wind projects in Kutch, Gujarat. The company has planned further 225MW wind capacity in the Bhuj Area by the second half of 2020. The announcement was made on Monday, 21 October 2019.

The stock of Adani Green Energy has rallied 58% in eleven trading sessions to end at Rs 89.70 on Friday, 18 October 2019, from its recent closing low of Rs 56.65 on 1 October 2019.

Chalet Hotels was trading 2.08% lower at Rs 313. With reference to a news article titled, 'Chalet Hotels in talks to buy Accor's Novotel', Chalet Hotels clarified that the article is speculative. In line with its stated strategy, the company evaluates various opportunities for acquisitions on an ongoing basis and it is pertinent to note that the company has looked at acquisition opportunities in the past, which have not resulted in any definitive conclusion. The company does not deal with anything speculative and as and when any opportunity reaches definitive stage, appropriate announcements would be made. The announcement was made on Monday, 21 October 2019.

Overseas, most Asian stocks were trading higher on Tuesday, mirroring overnight gains in the US market, supported by signs of progress in talks on resolving the US-China trade dispute.

U.S. President Donald Trump sounded reportedly upbeat on a China deal on Monday, while White House adviser Larry Kudlow said tariffs on Chinese goods scheduled for December could be withdrawn if talks go well.

British Prime Minister Boris Johnson failed to get a vote on his Brexit deal and will try again on Tuesday to get the first stage of a withdrawal bill through Parliament.

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