Biggest Drop In Two Months
Indian equities fell the most in two months on Monday, ending lower for the fifth straight session as a rise in active Covid-19 cases across the country dented sentiment.
The S&P BSE Sensex ended 2.2% or 1,145 points lower at 49,744 while the NSE Nifty 50 index fell 2% or 300 points to end at 14,675.
All sectoral indices other than the Nifty Metal index ended lower in today's session. The Metal index also cooled off from the day's high to end with gains of 1.6%
The biggest laggard in today's session was the Nifty Media index, which fell 3.4%, led by multiplex players PVR and Inox Leisure. The Nifty I.T., Nifty Pharma, Nifty PSU Bank, Nifty Realty declined over 2.5% each in today's session while the Nifty Auto index fell 2.3%.
The Nifty Bank index fell 580 points or 1.6% in today's session to end at 35,257. The index si down over 2,500 points from its all-time high of 37,708.
Broader markets also ended lower, but the quantum of losses were lesser as compared to the benchmark indices. The Nifty Midcap index fell 1.3% while the Smallcap index declined 1.2% in today's session.
The India Volatility Index rose the most in two months, ending 14.5% higher at 25.47 - the highest level since July last year.
1,388 stocks on the NSE ended with losses while 561 bucked the trend to end higher.
How Did The Sectoral Indices Fare
Auto Index Down For The Third Day
Sonata Software At Record High
- Top gainer on the Nifty Small cap index
- Gains as much as 16.8% to Rs 467.6
- Biggest single-day gain since May 2014
- Up for the third straight day
- Today's volumes are 20 times higher than its 20-day average
- Stock in overbought territory with Relative Strength Index (RSI) at 71
- Five out of the eight analysts tracking the stock have a 'buy' recommendation
- The stock crossed its 12-month Bloomberg consensus price target of Rs 445.2 in today's session
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All Stocks On The I.T. Index Decline
Bucking The Trend: Aditya Birla Capital
- Top gainer on the Nifty Midcap index
- Gains as much as 11.8% to Rs 110.2
- Trades at the highest level in over a month
- Biggest single-day gain in five months
- Has gained in five out of the last six sessions
- Up 20% over the last six trading sessions
- Today's volumes are six times its 20-day average
- Stock near overbought territory with Relative Strength Index (RSI) at 69
- All seven analysts tracking the stock have a buy recommendation
- Based on the 12-month Bloomberg consensus data, the stock has a return potential of 18.7%
Benchmark Indices Set For Fifth Day Of Losses
- Nifty down 1.8% at 14,720
- Sensex down 2% at 49,905
- Nifty Bank down 1.5% at 35,307
- Nifty Midcap index down 1.4%
- Nifty Smallcap index down 1.2%
- India Volatility Index up 14% to 25.4
- PSU Bank and Media indices are the top sectoral laggards; down 3.1% each
- Nifty I.T. index down 2.7% while Nifty Auto and Nifty Realty down over 2% each
- Nifty Metal is the only sectoral gainer; up 2.2%
- Hindalco is the top Nifty gainer; up 4%
- Mahindra & Mahindra is the top Nifty laggard; down 4.8%
- 1,358 stocks on the NSE trade with losses while 538 buck the trend
Hindalco To Amend Dividend Distribution Policy
- Board to endeavor to distribute a dividend in the range of 8-10^ of the Free Cash Flow at a consolidated level.
- Dividend to depend on stability of earnings, future capex, free cash flow of the relevant year, industry outlook among other factors.
- Stock cools off from day's high and is no longer the top gainer on the Nifty 50 index.
PSU Bank Index Declines For The Second Day
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L&T's Construction Division Wins Large Orders
IDFC First Bank Aims For Growth
Benchmark Indices Trade Near The Day's Low
- Nifty down 1.1% at 14,810
- Sensex down 1.3% at 50,233
- Nifty Bank down 0.8% at 35,559
- Nifty Midcap index down 0.6%
- Nifty Smallcap index down 0.6%
- India Volatility Index up 8.1% to 24
- Nifty Media index remains the top sectoral laggard; down 2.4%
- PSU Bank index declines 2% while Auto index falls 1.7%
- Nifty I.T. index down 1.6% while I.T. index declines 1.1%
- Hindalco remains the top Nifty gainer; up 5.3%
- Mahindra & Mahindra is the top Nifty laggard; down 4%
- 1,235 stocks on the NSE are trading with losses while 625 stocks gain
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Reliance Industries Declines Post Supreme Court Order On Future Deal
Metal Index The Only Sectoral Gainer
Torrent Power At Record High
The Reason Why Metal Stocks Are Bucking The Trend
Benchmark Indices Trade With Losses After Subdued Start
- Nifty down 0.4% at 14,925
- Sensex down 0.5% at 50,647
- Nifty Bank little changed at 35,871
- Nifty Midcap index unchanged
- Nifty Small cap index down 0.3%
- India Volatility Index up 4.8% to 23.3
- Nifty Media is the top sectoral laggard; down 1.5%
- Nifty PSU Bank and Nifty Auto index down 1% each
- Nifty I.T. index falls 0.8% while FMCG index declines 0.8%
- Nifty Metal index is the top sectoral gainer; up 2.6%
- Hindalco is the top Nifty gainer; up 4.6%
- Top three gainers on the Nifty 50 are metal stocks
- L&T is the top Nifty laggard; down 2.7%
- 833 stocks on the NSE trade with gains while 937 decline
A Rebound In The Rupee
A Subdued Start To Trade
Indian equities have begun the new week on a subdued note, opening little changed from Friday's closing levels.
The S&P BSE Sensex opened 21 points higher at 50,910 while the NSE Nifty 50 rose 0.1% at the start of trade to open at 14,999. Both benchmarks are coming off a four-day losing streak.
Most sectoral indices too have opened little changed in today's session. The Nifty Bank index is up 30 points while the Nifty I.T. and Nifty Metal indices gained 0.3% each.
The Nifty Auto index was up 0.2% while the Pharma index opened 0.1% higher.
Broader markets have opened with modest gains as well. The Nifty Midcap index is up 0.25% while the Small cap index is up 0.2% at the start of trade.
1,128 stocks on the NSE are trading higher while 477 stocks have opened with losses.
Current Market Update
Jitters Likely To Continue?
Good Morning!
Indian equities posted losses last week after giving up all of Monday's gains. The Sensex and the Nifty 50 failed to hold their levels of 51,000 and 15,000, respectively, on Friday.
Today marks the beginning of the February F&O series expiry week. Futures, which were earlier indicating a positive start, are now at the session's low. The Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, was little changed at 15,007 as of 7:50 a.m. on Feb. 22.
Most Asian equities are advancing this morning with Japanese stocks outperforming and shares in South Korea trading higher as well. Futures on the Dow Jones continue to trade 50 points higher. The index ended unchanged on Friday.
Metal prices across the globe continue to rise. Copper prices on the LME rose to their highest since September 2011, while Tin prices hit a nine-year high.
Yield on the 10-year treasuries rose to 1.38%, while West Texas Intermediate crude rose 0.8% to $59.7 per barrel. Four of the largest refineries in Texas are likely to remain shut for weeks due to repairs post damages caused by the cold snap.
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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