KEY HIGHLIGHTS
Closing Bell
Indian equities ended higher for the second straight session, erasing the losses made over Friday and Monday.
The S&P BSE Sensex reversed after coming as much as 120 points close to the mark of 50,000. The index ended 0.8% higher at 49,792, correcting as much as 80 points from the highest point of the day.
The NSE Nifty 50 ended near the day's high with gains of 0.85% at 14,644.
Autos, I.T. and PSU Banks were the outperformers in today's trading session. The Nifty Auto and I.T. indices ended with gains of 2.2% each while the PSU Bank index gained 2.1%.
Among other indices that did well were the Nifty Media index which gained 1.1% and the Nifty Metal index ended 0.9% higher.
The FMCG index was the only sectoral laggard in today's session, ending 0.2% lower.
Broader markets were mixed in today's session. The Midcap index ended 1% higher while the Smallcap index rose 0.6%.
India Volatility Index fell 5.9% in today's session to end at 21.55.
1,010 stocks on the NSE ended with gains while 885 stocks ended with losses.
How Did The Sectoral Indices Fare
Strong Traction In PSU Bank Index
Hindustan Zinc Q3FY21 (Standalone, YoY)
- Revenue up 28% at Rs 5,915 crore Vs Rs 4,626 crore (BBG Estimate: Rs 5,829 crore)
- Net profit up 36% at Rs 2,200 crore Vs Rs 1,620 crore (BBG Estimate: Rs 2,198.7 crore)
- Ebitda up 40% at Rs 3,151 crore Vs Rs 2,243 crore (BBG Estimate: Rs 3,095 crore)
- Ebitda margin at 53.3% at 48.5%
- Confident to achieve our mined metal and refined metal volume guidance, while likely to exceed our guidance on silver production and cost of production for FY21
Markets At 2:10 P.M.
- Benchmark indices trade near the day's high
- Nifty up 0.75% at 14,629
- Sensex up 0.7% at 49,750
- Nifty Bank up 0.3% at 32,542
- Nifty Midcap index up 0.9%
- Nifty Smallcap index up 0.6%
- India Volatility Index down 4.3% to 21.91
- Nifty Auto index is the top sectoral gainer; up 2.2%
- Nifty I.T. index gains 1.8% while PSU Bank index is up 1.4%
- Tata Motors remains the top Nifty gainer; up 6.6%
- Shree Cement is the top Nifty laggard; down 1.3%
- 1,037 stocks on the NSE trade with gains while 828 decline
Federal Bank Q3FY21 (Standalone, YoY)
- Net Interest Income up 24% at Rs 1,437 crore Vs Rs 1,155 crore (BBG Estimate: Rs 1,359.4 crore)
- Net profit down 8% at Rs 404.1 crore Vs Rs 440.6 crore (BBG Estimate: Rs 371.5 crore)
- Gross NPA at 2.71% Vs Rs 2.84% (QoQ)
- Net NPA at 0.6% Vs 0.99% (QoQ)
- Provisions at Rs 420.6 crore Vs Rs 592 crore (QoQ) and Rs 160.8 crore (YoY)
Sterlite Technologies Q3FY21 (Consolidated, YoY)
- Reveune up 9% at Rs 1,314.4 crore Vs Rs 1,202.6 crore (BBG Estimate: Rs 1,241.7 crore)
- Net profit up 65% at Rs 86.6 crore Vs Rs 52.6 crore (BBG Estimate: Rs 83.8 crore)
- Ebitda down 12% at Rs 230 crore Vs Rs 261.3 crore (BBG Estimate: Rs 237.7 crore)
- Ebitda margin at 17.5% Vs 21.7%
- One-time expense of Rs 50.71 crore in the base quarter
- Order book at over Rs 10,000 crore backed by new customers and products
- Revenue growth driven by all-time high volumes of optical fibre and cables through deep customer engagement and improved pace of network deployment
- Acquisition of Optotec strengthens end-to-end Optical Connectivity Portfolio and increased addressable market by $8-10 billion
- Committed Rs 300 crore to expand its optical fibre cable capacity to 33 million fibre kilometers from 198 million fibre kilometers. This expansion is on track for completion by June 2021
PVR Leads Gains On Media Index
Keki Mistry On Economic Recovery
Auto Index Highest In Two Years
Buzzing Stock: MRF
- Trading at a record high
- Gains as much as 3.8% to Rs 90,500
- Up for the second day in a row
- Today's volumes are 22% higher than its 20-day average
- One-month implied volatility is 56%
- Stock in overbought territory with Relative Strength Index (RSI) at 73
- Five out of the nine analysts tracking the stock have a buy recommendation; 3 sell calls
- The stock trades 16.7% higher than its 12-month consensus price target of Rs 74,718
Markets At Noon
- Benchmark indices trading near the day's high
- Nifty up 0.6% at 14,605
- Sensex up 0.5% at 49,661
- Nifty Bank up 0.4% at 32,557
- Nifty Midcap index up 0.8%
- Nifty Smallcap index up 1%
- India Volatility Index down 4% to 22
- Nifty I.T. remains the top sectoral gainer; up 2%
- Nifty Auto gains 1.6% while media index is up 1.3%
- Nifty Metal and Realty index up 0.4% each
- Tata Motors remains the top Nifty gainer; up 6.5%
- NTPC is the top Nifty laggard; down 1.1%
- 1,133 stocks on the NSE trade with gains while 679 decline
In Focus: Metals
In Focus: Larsen & Toubro
I.T. Index Top Sectoral Gainer
In Focus: NBFCs
Markets At 10:10 A.M.
- Benchmark indices trade with gains
- Nifty up 0.4% at 14,580
- Sensex up 0.4% at 49,584
- Nifty Bank up 30 points at 32,452
- Nifty Midcap index up 0.4%
- Nifty Smallcap index up 0.7%
- India Volatility Index down 1.2% to 22.62
- Nifty I.T. is the top sectoral gainer; up 2.7%
- Nifty Auto is the other major sectoral gainer; up 1%
- Most other sectoral indices trade little changed
- Tata Motors is the top Nifty gainer; up 3.8%
- Four out of the top five Nifty gainers are I.T. stocks
- Shree Cement is the top Nifty laggard; down 1.6%
- 1,091 stocks on the NSE trade with gains while 636 decline
In Focus: Life Insurers
2021: The Year Of The Midcaps?
Opening Bell
Indian equities have opened little changed in mid-week trading as sentiment across the Asia-Pacific is mixed.
The S&P BSE Sensex opened 0.2% higher at 49,508 while the NSE Nifty 50 index rose 20 points to open at 14,538.
Among the sectoral indices, the Metal index has opened with gains of 0.5%, while the I.T. and Pharma indices have gained 0.4% each at the start of trade.
Broader markets have opened higher in comparison to the benchmarks. The Nifty midcap index is up 0.3% while the Smallcap index rose 0.5% at the start of trade.
1,428 stocks on the NSE have opened with gains while 514 are declining.
Current Market Update
SGX Off Opening Lows
Good Morning!
Indian equities staged a rebound on Tuesday after a two-day drop, with the S&P BSE Sensex edging closer to 50,000.
Gains were seen across the board with the broader markets outperforming as well.
Futures are indicating a negative start to today's session even as they recovered from the session's lows. The Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, fell 0.3% to 14,515 as of 8:15 a.m. on Wednesday.
Stocks like L&T Infotech Ltd., Tata Steel BSL Ltd., ICICI Lombard Ltd. may react to their quarterly earnings reported after market hours on Tuesday.
Bajaj Finance and Bajaj Finserv, which were the top gainers on the Nifty on Tuesday, will be reporting their results today.
Some important non-Nifty 50 firms reporting results today include Federal Bank, GMM Pfaudler, Havells India, HDFC AMC, Hindustan Zinc, L&T Technology Services, Syngene, Sterlite Technologies and Tejas Networks.
Asian equities are mixed this morning. Stocks in Hong Kong are edging higher while those in Japan decline.
Futures on the Dow Jones are trading 30 points higher. The index gained 0.4% on Tuesday.
West Texas Intermediate crude rose 0.4% to $53.21 per barrel, while gold rose 0.3% to $1,845.4/Oz.
Short on time? Well, then listen to this podcast for a quick summary of All You Need To Know before the opening bell.
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