Second Week Of Gains
Indian equities ended little changed for the third time in the last four trading sessions, but posted gains for the week, courtesy the surge on Monday.
The S&P BSE Sensex ended 12 points higher at 51,544 while the NSE Nifty 50 index ended 10 points lower at 15,163. Both the benchmark indices gained over 1.5% for the week.
Private banks outperformed in today's session with the Nifty Bank ending 1% higher, above the mark of 36,000.
Among the top laggards of the session were Metals and FMCG stocks. The Nifty Metal index fell 1.7% while the FMCG index declined 1.5%, dragged lower by ITC's fall post its Q3 results.
The Nifty Media index fell 1% while the Auto index declined 0.5%.
Broader markets too were little changed and had a mixed day of trade. The Nifty Midcap index ended 0.2% lower while the Small Cap index gained by a similar quantum.
The India Volatility Index fell 4% in today's session to end at 22.14.
1,029 stocks on the NSE ended with gains while 847 stocks reported losses.
How Did The Markets Fare This Week
Finolex Cables Q3FY21 (Consolidated, YoY)
- Revenue up 18% at Rs 830.2 crore Vs Rs 702.4 crore
- Net profit up 43% at Rs 147 crore Vs Rs 102.7 crore
- Ebitda up 9% at Rs 109.2 crore Vs Rs 99.9 crore
- Ebitda margin at 13.2% Vs 14.2%
- Electrical Cables revenue up 19% at Rs 692.9 crore Vs Rs 584 crore
- Communication Cables revenue up 6% at Rs 95.8 crore Vs Rs 90 crore
- Copper rods revenue more than triples to Rs 196 crore Vs Rs 55.5 crore
Benchmarks Fluctuate But Set For Weekly Gains
- Nifty down 15 points at 15,155
- Sensex down 22 points at 51,530
- Nifty Bank up 1% at 36,114
- Nifty Midcap index down 0.5%
- Nifty Small cap index little changed
- India Volatility Index down 3.2% to 22.3
- Nifty FMCG and Nifty Metal are the top sectoral laggards; down 1.7% each
- Nifty Pharma index down 1.1% while Auto index declines 0.8%
- Nifty I.T. and PSU Bank indices trade with gains of 0.4% each
- Adani Ports is the top Nifty gainer; up 3.5%
- ITC remains the top Nifty laggard; down 4.2%
- 1,037 stocks on the NSE decline while 821 stocks trade higher
Bharat Forge Q3FY21 (Consolidated, YoY)
- Revenue down 6% at Rs 1,723.1 crore Vs Rs 1,830.8 crore (Bloomberg Estimate: Rs 1,015.3 crore)
- Net loss of Rs 210.4 crore Vs net profit of Rs 40.4 crore (Bloomberg Estimate: Net profit of Rs 92.7 crore)
- Ebitda up 28% at Rs 283.7 crore Vs Rs 222.3 crore (Bloomberg Estimate: Rs 214.7 crore)
- Ebitda margin at 16.5% Vs 12.1%
- Expense of Rs 5.47 crore during the quarter on account of Voluntary Retirement Scheme at Mundhwa and Satara plant.
- Expense of Rs 19.7 crore due to expense on manpower optimisation in overseas subsidiaries
- Expense of Rs 274.3 crore on related settlement expenses with regards to German subsidiaries.
Motherson Sumi At The Highest In Over Two Years
Banking Stock Contribute To Gains
Voltas Q3FY21 (Consolidated, YoY)
- Revenue up 34% at Rs 1,994.6 crore Vs Rs 1,492.5 crore
- Net profit up 46% at Rs 128.6 crore Vs Rs 88 crore
- Ebitda up 50% at Rs 145.8 crore Vs Rs 97.5 crore
- Ebitda margin at 7.3% Vs 6.5%
- Unitary Cooling Products revenue up 40% at Rs 839.6 crore Vs Rs 600.5 crore
- Electro-Mechanical projects and services revenue up 26% at Rs 1,016.7 crore Vs Rs 808.1 crore
- Engineering Products and Services revenue up 46% at Rs 121 crore Vs Rs 82.6 crore
What Aided The Earnings Of City Gas Distributors In Q3
Benchmark Indices Trade With Modest Gains
- Nifty up 0.3% at 15,213
- Sensex up 0.3% at 51,685
- Nifty Bank up 1% at 36,119
- Nifty Midcap index up 0.2%
- Nifty Smallcap index up 0.8%
- India Volatility Index down 3.5% to 22.23
- Nifty FMCG index is the top sectoral laggard; down 1%
- Nifty Metal index down 0.8% while Auto index declines 0.5%
- PSU Bank index gains 0.9% while the Nifty I.T. index is up 0.7%
- IndusInd Bank is the top Nifty gainer; up 3.4%
- ITC is the top Nifty laggard; down 3.3%
- 1,062 stocks on the NSE are trading with gains while 750 are declining
Laurus Labs Bullish On Growth Outlook
Piramal Enterprises At 52-Week High
ITC Drags The FMCG Index Lower
Surprise Q3 Loss For Ashok Leyland
Also Read: Ashok Leyland Stock Falls On Q3 Loss
Benchmark Indices Trade Little Changed
- Nifty up 14 points at 15,188
- Sensex up 0.1% at 51,590
- Nifty Bank up 80 points at 35,833
- Nifty Midcap index up 0.2%
- Nifty Small cap index up 0.6%
- India Volatility Index fell 1.7% to 22.66
- Nifty I.T. is the top sectoral gainer; up 1%
- Nifty FMCG is the top sectoral laggard; down 1.1%
- Nifty Metal down 0.7% while Nifty Realty gained 0.9%
- Wipro is the top Nifty gainer; up 2.5%
- ITC is the top Nifty laggard; down 4%
- 1,024 stocks on the NSE trade with gains while 726 decline
The Stocks That Nippon India Is Betting On
A Subdued Start To Trade
Indian equities opened little changed on the final trading day of the week owing to lack of directional cues from the Asia Pacific and a muted close on Wall Street.
The S&P BSE Sensex opened 0.2% higher at 51,614 while the NSE Nifty 50 index opened 0.1% higher at 15,186. As of closing on Thursday, both the benchmark indices were up 1.6% for the week.
Most sectoral indices have also opened flat. The Nifty Pharma and Nifty Media indices have opened 0.6% higher while the PSU Bank and FMCG indices are up 0.3% each.
Broader markets have had a mixed start to the session. The Midcap index moves in-line with the benchmarks, gaining 0.1% while the Smallcap index is outperforming, opening 0.6% higher.
Current Market Update
Second Straight Weekly Gain?
Good Morning!
Indian equities ended higher on Thursday as gains in heavyweight Reliance Industries Ltd. and a few banking stocks offset weekly options expiry jitters.
So far this week, the S&P BSE Sensex and the NSE Nifty 50 have gained 1.6% each.
Futures, however, are indicating a subdued start to Friday’s trading session. The Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, was little changed at 15,178 as of 7:55 a.m.
ITC, Power Grid, ACC, Petronet LNG, among others, may react to their quarterly results reported after market closing on Thursday.
Grasim is the only Nifty 50 constituent that will announce results on Friday, along with Apollo Hospitals, Bharat Forge, Cochin Shipyard, Delta Corp, Glenmark, Indiabulls Housing, Motherson Sumi, NALCO, Info Edge, among others.
Trading in Asia remains restricted as markets remain shut on account of the Lunar New Year holiday. Japanese and Australian markets are trading lower.
Oil prices fell after IEA cut its global oil demand forecast for 2021, while Bitcoin rose to another record after firms like Mastercard and BNY Mellon made it easier for customers to use cryptocurrencies.
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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