Current Market Update
How Did The Markets Fare For The Week
Fourth Day Of Losses
Indian equities ended lower for the fourth straight day, giving up all of Monday's gains to post losses for the week.
The S&P BSE Sensex ended 0.85% lower at 50,889 while the NSE Nifty 50 index failed to hold the 15,000 mark, ending 0.9% lower at 14,981. Both the benchmarks fell over 1% for the week.
For today's session, all sectoral indices ended with losses. The Nifty Bank, after gaining 1,300 points on Monday, shed close to 1,600 points in the next four sessions. The index ended 2% lower at 35,841.
PSU Banks, which outperformed through the week, snapped a five-day gaining streak to end 4.8% lower. The Nifty Auto index ended 2.6% lower while the Metal index declined 2%. The Nifty Pharma index fell 1.4% in today's session.
Broader markets also ended lower in today's session. The Nifty Midcap index fell 1.6% while the Smallcap index declined 0.9% lower.
The India Volatility Index rose 3.3% to end at 22.25.
716 stocks on the NSE ended with gains while 1,176 stocks underperformed to end lower.
Most Stocks On The Metal Index Decline
Buzzing Stock: LIC Housing Finance
- Second worst performing stock on the Nifty Midcap index
- Falls as much as 7% to Rs 445
- Biggest single-day drop in nine months
- Today's volumes are 6% below its 20-day average
- One-month implied volatility at 56%
- Relative Strength Index (RSI) of the stock at 54
- 29 out of the 40 analysts tracking the stock have a buy recommendation; seven sell calls
- Return potential of the stock as per Bloomberg data is 4.3%
Nifty Bank Index Falls Over 800 Points
Markets Set For Weekly Losses
- Nifty down 0.7% at 15,012
- Sensex down 0.6% at 51,027
- Nifty Bank down 1.5% at 36,033
- Nifty Mid cap index down 1.5%
- Nifty Small cap index down 0.6%
- India Volatility Index up 2.1% to 22
- PSU Bank index is the top sectoral laggard; down 4.4%
- Nifty Auto index is the other major laggard; down 2.3%
- Nifty Metal and Nifty Pharma index down 1.5% each
- UPL remains the top Nifty gainer; up 2.2%
- Tata Motors is the top Nifty laggard; down 4.3%
- 40 out of the 50 index stocks decline
- 1,127 stocks on the NSE decline while 725 trade with gains
PSU Bank Index Snaps Five-Day Gaining Streak
Savita Oil Technologies Approves Share Buyback
- The company will buyback 2.51 lakh equity shares representing 1.78% of the total number of equity shares.
- Buyback price of Rs 1,400 per share is a 35% premium to Thursday's closing.
- Aggregate amount of the total buyback of Rs 35.1 lakh
- Record date for the same has been set as March 5, 2021.
MOIL Announces Closure Of JV Company
- Announces closure of Joint Venture company SAIL&MOIL Ferro Alloys SMFAPL
- SMFAPL was a 50:50 JV with Steel Authority of India
- Due to factors including increase in power costs, operations are not expected to be viable
- Closure as objectives of the JV could not be attaind.
- No impact on the company has the JV has been dormant since its incorporation
Resolving India's Housing Woes
Muthoot Finance Approves Raising Funds
- Approves raising funds to the tune of Rs 6,000 crore through private placement of redeemable, NCDs to be issued in one or more tranches.
- The NCDs are proposed to be listed on the BSE or NSE.
Challenging The Arbitration Award
Benchmark Indices Remain Rangebound
- Nifty down 0.2% at 15,095
- Sensex down 60 points at 51,263
- Nifty Bank down 0.3% at 36,461
- Nifty Midcap index down 0.1%
- Nifty Smallcap index up 0.4%
- India Volatility Index up 0.9% to 21.74
- Nifty Auto index is the top sectoral laggard; down 1.2%
- Nifty I.T. and Nifty Pharma indices down 0.7% each
- PSU Bank index is the top sectoral gainer; up 1%
- UPL is the top Nifty gainer; up 3%
- Tata Steel is the top Nifty laggard; down 2.8%
- 967 stocks on the NSE trade with gains while 816 are declining
Oil india Set To Bid For Numaligarh Refinery
Jefferies' Bullish Call On The Housing Cycle
Auto Index Among Top Laggards
Axis MF's JInesh Gopani's Market Outlook
Benchmark Indices Off The Day's Low
- Nifty down 0.3% at 15,074
- Sensex down 0.3% at 51,178
- Nifty Bank down 0.7% at 36,340
- Nifty Midcap index down 0.2%
- Nifty Small cap index up 0.2%
- India Volatility Index up 0.7% to 21.7
- Nifty Auto index is the top sectoral laggard; down 1.1%
- Nifty Metal index down 1% while I.T. index down 0.7%
- Nifty FMCG and PSU Bank index up 0.3% each
- GAIL is the top Nifty gainer; up 3.3%
- Power Grid is the top Nifty laggard; down 2.5%
- 975 stocks on the NSE are trading with gains while 768 are declining
IDFC First Bank To Raise Funds
Markets Open With A Negative Bias
Indian equities opened lower for the fourth straight day, as sentiment across the Asia-Pacific remains muted.
The S&P BSE Sensex opened 0.2% lower at 51,238 while the NSE Nifty 50 index fell 0.3% at the start of trading to 15,074. As of closing on Thursday, both Sensex and Nifty gave up Monday's gains, courtesy the three-day drop.
Among the sectoral indices, the PSU Bank index has opened 0.8% higher while the Nifty Bank index shed another 200 points to open below the 36,500 mark.
Most other sectoral indices have opened flat. The Auto index is down 0.4% while the Media index has gained 0.2%.
Broader markets have opened flat this morning. Both Nifty Midcap and Smallcap indices are little changed from Thursday's closing levels.
1,061 stocks on the NSE have opened with gains while 862 are trading lower.
Futures Point To Losses
Good Morning!
Indian equities gave up all of Monday's gains after declining for the third straight day amid weekly options expiry. The Sensex and Nifty 50 have turned negative for the week.
Banking and auto stocks were the top laggards on Thursday. Foreign investors remained net buyers but their quantum of buying was less than what domestic counterparts sold.
Futures are again indicating a weak start to the final trading day of the week. The Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, fell 0.5% to 15,045 as of 8:00 a.m. on Friday.
Asian equities are declining this morning with benchmark indices in Japan, South Korea and Australia trading lower. Futures on the Dow Jones are trading 100 points lower after the index fell 0.4% overnight.
West Texas Intermediate crude fell 2.1% to $59.23 per barrel after some companies resumed production in Texas post the cold snap. Gold fell 0.5% to $1,766/Oz. Bitcoin traded below the $52,000 mark.
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