Current Market Update
How Did The Sectoral Indices Fare
Closing Bell
The record breaking run of India's equity markets came to a halt as index heavyweights proved to be a drag on the indices ahead of the weekly options expiry tomorrow.
The 10-day winning streak of the S&P BSE Sensex came to an end with the index ending 0.54% lower at 48,174. The NSE Nifty 50 index too ended 0.4% lower at 14,146. The late surge in cement stocks was offset by index heavyweights like ITC, Axis Bank and Reliance Industries.
Among sectoral indices, FMCG and I.T. proved to be drags in today's session. The Nifty I.T. index ended 1.4% lower while the FMCG index fell 1.1%.
Metals advanced in today's session with the Metal index ending with gains of 1.3%. The realty index was the other sectoral gainer; ending 0.7% higher.
Broader markets were mixed but managed to outperform the benchmark indices. The Midcap index ended with gains of 0.5% while the Smallcap index ended little changed.
The India Volatility Index ended 2.7% higher at 21.
869 stocks on the NSE ended with gains while 1,049 stocks declined.
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Markets At 2:10 P.M.
- Benchmark indices fall to the day's low
- Nifty down 0.8% at 14,079
- Sensex down 1% at 47,983
- Nifty Bank down 0.2% at 31,650
- Nifty Midcap index down 0.1%
- Nifty Smallcap index down 0.6%
- India Volatility Index up 3.8% to 21.24
- Nifty I.T. is the top sectoral laggard; down 2%
- Nifty FMCG down 1.4% while Pharma index declines 1%
- Nifty Metal is the only sectoral gainer; up 0.7%
- Power Grid is the top Nifty gainer; up 3.5%
- ITC remains the top Nifty laggard; down 2.8%
- 746 stocks on the NSE trade with gains while 1,135 decline
Active Stock Options
- Reliance Industries' 2,000 Call: Premium down 22.6% to Rs 45.95. The contract has shed 8.4 lakh shares in Open Interest.
- ICICI Bank's 550 Call: Premium up 27.7% to Rs 18. The contract has added 1.63 lakh shares in Open Interest.
- Axis Bank's 700 Call: Premium down 2.4% to Rs 14.45. The contract has added 6.45 lakh shares in Open Interest.
FMCG Index Among Top Laggards
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PSU Bank Index Trades With Gains
India's Services PMI
Markets At Noon
- Benchmark indices continue to trade in a narrow range
- Nifty down 8 points at 14,191
- Sensex down 70 points at 48,367
- Nifty Bank up 0.2% at 31,800
- Nifty Midcap index up 1%
- Nifty Smallcap index up 0.85%
- India Volatility Index up 1.2% to 20.7
- Nifty Media index is the top sectoral gainer; up 1.5%
- Nifty Realty index gains 1.2%
- Nifty Metal, PSU Bank index up 0.9% each
- GAIL remains the top Nifty gainer; up 3.6%
- ITC is the top Nifty laggard; down 2.1%
- 1,125 stocks on the NSE are trading with gains while 701 are declining
In Focus: Power Finance Corporation
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Multiplex Players Lead Gains On The Media Index
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Nomura's Preferred Pick In The Gas Sector
Markets At 10:10 A.M.
- Benchmark indices fluctuate between gains and losses, trade little changed
- Nifty down 5 points at 14,196
- Sensex down 42 points at 48,397
- Nifty Bank up 0.3% at 31,818
- Nifty Midcap index up 0.8%
- Nifty Smallcap index up 0.9%
- India Volatility Index up 1.6% to 20.8
- PSU Bank index is the top sectoral gainer; up 1.4%
- Nifty Media is the other major gainer; up 0.9%
- Nifty Metal, Nifty I.T. gain 0.5% each
- Nifty FMCG falls 0.7% while Pharma index declines 0.3%
- GAIL is the top Nifty gainer; up 3.1%
- ITC is the top Nifty laggard; down 1.6%
- 1,236 stocks on the NSE trade with gains while 523 decline
In Focus: India's Vaccine Rollout
Titan's Q3 Business Update
- Jewellery business saw close to 15% growth, excluding sale of raw gold worth Rs 334 crore
- Improvement in walk-ins and pick up of sale in metros, sub 1-lakh category and studded segment
- Studded mix in Q3 has improved though still lower than levels seen in the previous year
- Ticket size continues to be higher due to higher gold rates and higher share of wedding related products
- Watches and wearables division saw recovery of 88% in Q3 compared to the previous year's revenue
- Omni-channel capability has been scaled up to ~80% of 'World of Titan' and Fasttrack stores
- Sales in the wearables segment has been very encouraging
- Eye Wear division saw recovery of 92% in Q3 compared to the same quarter of last year
- Other businesses had revenue recovery of around 80%
Opening Bell
Indian equities have opened at yet another record high, even as sentiment across the Asia-Pacific remains muted.
The S&P BSE Sensex has opened with gains of 0.4% at 48,616 while the NSE Nifty 50 index is up 0.3% at 14,240. This is the 11th straight day of gains for the Sensex.
Among the sectoral indices, the Nifty Bank has opened with gains of around 120 points, leaving it just 500 points adrift of its record high of 32,397. The PSU Bank index has opened with gains of 0.5% while the Media and Metal indices have opened 0.4% higher each.
Broader markets are trading with gains at the start of today's session. The Midcap index is up 0.4% while the Smallcap index has risen 0.6%.
1,281 stocks on the NSE have opened with gains while 351 stocks are declining.
Subdued Start Likely
Good Morning!
Indian equity markets staged a rebound from the day’s low on Tuesday to end at yet another record high.
The S&P BSE Sensex gained for the 10th straight day, while the NSE Nifty 50 ended around 14,200. The Nifty Bank index is now only 620 points away from hitting a record high of 32,347, last scaled in January 2020.
Futures, however, are indicating at a subdued start to today’s trading session. The Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, was flat at 14,223 as of 8:00 a.m. on Wednesday.
The street will watch out for HDFC Bank Ltd. and Godrej Consumer Products Ltd. as they released their quarterly business updates ahead of the third-quarter earnings season set to begin later this week.
Asian markets are little changed in mid-week trading as traders are looking forward to results from the elections in the U.S. state of Georgia.
Yields on the 10-year treasuries ticked higher after the two Democratic candidates had leads in very early returns amid concerns that a double win may mean additional stimulus and tax hikes.
Futures on the Dow Jones gave up gains and are now trading 70 points lower, while those on the Nasdaq are down over 100 points.
West Texas Intermediate crude was flat at $49.97 per barrel. Oil prices soared past the $50 per barrel mark on Tuesday after Saudi Arabia voluntarily agreed to cut output by 1 million barrels per day.
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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