Two-Day Rally Ends
Indian equities snapped a two-day losing streak amid weak global cues, giving up half of the gains made on Tuesday in the process.
The S&P BSE Sensex ended 1.2% lower at 49,509 while the NSE Nifty 50 declined 1% to close at 14,690. Losses on the benchmark indices were led by the HDFC twins. Both HDFC and HDFC Bank ended with losses of 4% each in today's session. Both these stocks contributed to 105 out of the 157 point-drop on the Nifty in today's session.
The losses in HDFC Bank also impacted the Nifty Bank index, which ended 1.7% or 570 points lower to end at 33,303. The Nifty I.T. index was the other major sectoral laggard, ending 1% lower.
The Nifty Realty index was the top sectoral gainer in today's session, ending 1.7% higher. Among the other sectoral gainers in today's session were the PSU Bank index which gained 1.3% while the FMCG index gained 1% at the close of trade.
Broader markets outperformed in today's trading session. The Nifty Midcap and Nifty Smallcap index ended with gains of 0.4% each.
The India Volatility Index rose 0.8% to end at 20.65.
900 stocks on the NSE ended with gains while 990 stocks posted losses.
How Did The Sectoral Indices Fare
Computer Age Management Services (CAMS) Gets Certificate Of Registration
- Gets Certificate of Registration to act as Central Record Keeping Agency (CRA) under the National Pension Scheme.
- Certificate received as per the Pension Fund Regulatory and Development Authority (Central Record keeping Agency Regulatios, 2015)
- Registration to remain valid unless surrendered by the company or suspended or cancelled by the authority.
Indian Hotels Among Top Midcap Gainers
- Third best performer on the Nifty Midcap index
- Gains as much as 8.7% to Rs 114.9
- At the day's high, it was the biggest single-day gain since November 10, 2020
- Stock has gained in two out of the last three trading sessions
- Today's volumes are double its 20-day average
- Relative Strength Index (RSI) of the stock at 41.3, rebounding from oversold levels
- Nine out of the 12 analysts that track the stock have a buy rating; 1 sell call
- Based on the 12-month Bloomberg consensus data, the stock has a return potential of 33%
The Most Bearish Call On The Rupee
Most Stocks On The FMCG Index Gain
How Are Auto Sales Likely To Fare In March
Piramal Enterprises Announces Acquisition
- Subsidiary Piramal Pharma to acquire 100% stake in Hemmo Pharmaceuticals Pvt. Ltd.
- Acquisition to be done for an upfront cash consideration of Rs 775 crore.
- Deal likely to be completed within the next four to six weeks.
- Hemmo to become wholly-owned subsidiary post the deal.
Benchmark Indices Continue To Trade Lower
- Nifty down 0.7% at 14,738
- Sensex down 1% at 49,665
- Nifty Bank down 1.6% at 33,337
- Nifty Midcap index up 0.2%
- Nifty Smallcap index up 0.4%
- India Volatility Index up 1% to 20.7
- PSU Bank index remains the top sectoral gainer; up 2.5%
- Realty index is the other major sectoral gainer; up 1.4%
- Nifty Metal and Nifty Pharma indices gain 0.8% each while FMCG index up 0.9%
- Nifty I.T. is the top sectoral laggard; down 0.6%
- UPL is the top Nifty gainer; up 3%
- HDFC twins remain the top Nifty laggards; down 4% each
- 982 stocks on the NSE trade with gains while 853 are trading lower.
A Problem With Auto Debits?
Man Industries Gets Proposal To Divest Investment In Subsidiary
- Board discussed divestment 100% equity in Merino Shelters Pvt. Ltd.
- Proceeds from the divestment will be utilised in the company's capex plans to enhance the product range and enter added segments.
- Company has received Letters of Intent from prospective investors and board has in-principal approved the divestment.
- Shares gaied as much as 7.5% to Rs 83.5.
PSU Bank Index The Top Sectoral Gainer
GSK Pharma To Sell Karnataka Unit
- Board approved sale of manufacturing facility in Karnataka to Hetero Labs.
- Sale to be done for an overall consideration of Rs 180 crore.
- Transaction expected to be completed by September 30, 2021 subject to satisfactory completion of the respective conditions, precedent by the parties.
- Transaction subject to receipt of all statutory approvals.
Rupee Recovers From Day's Low
Mahindra Signs Pact With Kubota
- Mitsubishi Mahindra Agricultural Machinery Co. Ltd. entered into a business collaboration agreement with Kubota Co. ltd. for the Japanese market.
- To respond to diversifying customer needs and contribute to sustainable development by expanding mutual OEM supply and utilise products compatible with Kubota's IoT platform.
- Shares gained as much as 1.3% to Rs 805.7.
Robust Performance By TVS Motor
- Two-wheeler exports clocked 1 lakh units in Marhc 2021.
- Increase in motorcycle sales in key markets across the globe has significantly contributed to this.
- Witnessed growth across various geographies with a definite shift to premiumisation.
- Shares gained as much as 2.4% to Rs 589.
Benchmark Indices Continue To Trade Lower
- Nifty down 0.8% at 14,724
- Sensex down 1% at 49,631
- Nifty Bank down 1.8% at 33,270
- Nifty Midcap index unchanged
- Nifty Smallcap index up 0.2%
- India Volatility Index up 0.2% to 20.5
- PSU Bank index is the top sectoral gainer; up 1.3%
- Nifty Metal and Nifty Pharma indices gain 0.8% each
- Nifty I.T. and Nifty Media indices down 0.5% each
- Tata Motors remains the top Nifty gainer; up 2.3%
- HDFC Twins remain the top Nifty laggards; down 4% each
- 984 stocks on the NSE trade with gains while 835 decline
Shares Surge On Order Wins
IDFC First Bank Launches QIP
Banking Stocks Among The Top Laggards
A Separate Cigarette Business For ITC?
A Win For Indian I.T. Firms?
Benchmark Indices Decline After Two-Day Rally
- Nifty down 0.7% at 14,747
- Sensex down 0.8% at 49,717
- Nifty Bank down 1.6% at 33,458
- Nifty Midcap index up 0.2%
- Nifty Smallcap index up 0.5%
- India Volatility Index up 0.8% to 20.66
- Nifty I.T. is the other major sectoral laggard; down 0.75%
- PSU Bank and Metal indices gain 1% each while Auto index is up 0.7%
- Most other sectoral indices trade little changed
- Tata Motors is the top Nifty gainer; up 3.3%
- HDFC twins are the top Nifty laggards; down 3% each
- 1,017 stocks on the NSE trade with gains while 719 decline
Tata Sons Releases Pledged Stake In Group Companies
- Releases pledge on 1.81% stake in TCS
- Releases pledge on 0.56% stake in Tata Power
- Releases pledge on 0.7% stake in Tata Motors
- Releases pledge on 0.63% stake in Tata Steel
Source: Bloomberg
A Subdued Start To The Trading Day
Indian equities have begun mid-week trading on a flat note after a two-day rally as bond yields continue to rise across the globe.
The S&P BSE Sensex opened 90 points lower at 50,049 while the NSE Nifty 50 index fell 30 points at the start of trading to 14,811. Both benchmarks gained the most in two months on Tuesday.
Sectoral indices have opened flat and mixed in today's session. The Nifty Bank index has opened 110 points or 0.3% lower while the Metal index has opened with losses of 0.2%.
Auto, I.T. and PSU Bank indices, which were among the top performers on Tuesday have opened little changed.
Broader markets too have opened mixed in today's session. The Midcap index is flat while the Smallcap index is outperforming the benchmarks, beginning the trading session with gains of 0.35%.
808 stocks on the NSE have opened with gains while 775 are declining.
Current Market Update
Final Day Of FY21
Good Morning!
Indian equities gained for the second straight day on Tuesday. It was also the biggest single-day gain for the benchmark indices in two months.
Futures, however, are indicating that the markets are likely to open with a negative bias in Wednesday's trading session. The Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, fell 0.4% to 14,872, as of 8:00 a.m.
Asian equities are mixed in mid-week trading amid upward pressure on bond yields as investors await more details on the next leg of the stimulus package in the U.S.
Benchmark indices in Japan fell after Mitsubishi UFJ Financial Group Inc. joined the list of firms globally to take a hit from the fallout at Bill Hwang's Archegos Capital Management.
- Shares in China retreated while those in Hong Kong and South Korea advanced.
- Futures on the Dow Jones are trading little changed. The index fell 0.3% on Tuesday.
- Yields on the 10-year treasuries stood at 1.73% after rising as high as 1.77%. West Texas Intermediate crude rose 0.2% to $60.67 per barrel ahead of the OPEC+ meeting tomorrow. Gold fell to a nine-month low.
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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