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"Valuation-wise, we are almost at fair or slightly overvalued levels and earnings are unlikely to surprise on the upside," he said.​The elevated valuations do not justify further run-up in the market, said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

ICICI Securities said Nifty EPS in the June quarter came in at Rs 177 per share, down 14 per cent QoQ. "Major disappointment came in from the oil & gas sector wherein marketing margins came in lower than estimated. However, capital goods, metals and mining and pharma space surprised on the positive side.

According to markets experts, the traders were digesting the US FOMC minutes which hinted that bankers are unlikely to slow down the path for rate hikes. The policymakers discussed the necessity of increasing interest rates more in order to tame inflation.

In the international market, gold was trading lower at USD 1,753 per ounce while silver was flat at USD 19.23 per ounce."Gold prices traded under pressure over stronger dollar," said Tapan Patel, Senior Analyst (Commodities) at HDFC Securities.

The regulator, however, said that no such investments can be made in companies based in jurisdictions identified by Financial Action Task Force (FATF) as those having anti-money laundering (AML) or combating the financing of terrorism (CFT) deficiencies.

The Nifty Auto index closed 1.41 per cent down at 12946.45.

The stock quoted a 52-week high of Rs 1136.8 and a 52-week low of Rs 697.05.

Promoters held 50.73 per cent stake in the company as of 30-Jun-2022, while FII and DII ownership stood at 19.21 per cent and 9.18 per cent, respectively.

HCL Technologies Ltd., incorporated in the year 1991, is a Large Cap company (having a market cap of Rs 266617.60 Crore) operating in IT Software sector.

A total of 610,745 shares changed hands on the counter till 01:04PM (IST).