Closing Bell
The euphoria of the S&P BSE Sensex crossing the 50,000 mark in today's trading session was offset by the volatility as a result of the weekly options expiry.
Benchmark indices ended lower in today's session as banking and metal stocks were a drag.
The S&P BSE Sensex ended 0.3% lower at 49,624. The index traded above the mark of 50,000 and 50,100 for most parts of the session, before falling as much as 800 points from the day's high of 50,184.
The NSE Nifty 50 too fell nearly 200 points from the day's high to end 0.4% lower at 14,590.
All sectoral indices ended lower with the PSU Bank index ending as the top laggard with losses of 3.3%. The Nifty Bank index too fell 350 points or 1.1% to end at 32,186.
Other underperformers of the day were Metals, with the metal index ending 2.2% lower while the Media index ended 2% lower.
The Nifty Pharma index fell 1.4% while the I.T. index declined 0.6%.
Broader markets too witnessed a correction in the second half of trade. They ended up underperforming the benchmarks. The midcap index fell 1.2% while the smallcap index declined 0.6%.
The India Volatility Index rose 2.9% to end at 22.18.
621 stocks on the NSE ended with gains while 1,296 stocks posted losses.
The Sectoral Picture
Nifty Bank Leading The Losses
In Focus: Bandhan Bank Q3FY21
- Net Interest Income up 34.5% at Rs 2,071 crore Vs Rs 1,540 crore
- Net profit down 13.5% at Rs 632.6 crore Vs Rs 731 crore
- Gross NPA at 1.11% Vs 1.18% (QoQ)
- Net NPA at 0.26% Vs 0.36% (QoQ)
- Proforma gross NPA at 7.12% Vs 1.5%
- Proforma net NPA at 2.36% Vs 0.72%
Bajaj Auto Q3FY21 (Standalone, YoY)
- Revenue up 17% at Rs 8,909.88 crore Vs Rs 7,639.6 crore (BBG Estimate: Rs 8,619.8 crore)
- Net Profit up 23% at Rs 1,556 crore Vs Rs 1,261 crore (BBG Estimate: Rs 1,373 crore)
- Ebitda up 27% at Rs 1,729.62 crore Vs 1,367 crore (BBG Estimate: Rs 1,520 crore)
- Ebitda Margins at 19.4% Vs 17.9%
- Highest ever revenue, profit and operating Ebitda
- Operating performance aided by higher operating leverage and better product mix
- Highest ever sale of pulsar in domestic and export market
- Highest ever sale of Boxer in various international markets
- Exports were the highest ever despite shortage of containers
- Domestic CV business remains impacted due to inadequate demand for short distance mobility
Asian Paints Q3FY21 (Consolidated, YoY)
- Revenue up 25% at Rs 6,788.5 crore Vs Rs 5,420.3 crore (BBG Estimate: Rs 6,029.3 crore)
- Net profit up 62% at Rs 1,265.3 crore Vs Rs 779.7 crore (BBG Estimate: Rs 971 crore)
- Ebitda up 50% at Rs 1,787.9 crore Vs Rs 1,189.3 crore (BBG Estimate: Rs 1,463.5 crore)
- Ebitda margin at 26.3% Vs 21.9%
- Demand conditions continue to exhibit a strong recovery across business segments
- Domestic decorative business saw volume growth of over 30% led by strong performance in premium and luxury portfolios
- Industrial coatings business delivered a robust performance
- Double-digit volume growth for the international business led by Asia and middle east
Kajaria Ceramics Q3FY21 (Consolidated, YoY)
- Revenue up 13% at Rs 838.3 crore Vs Rs 741.3 crore (BBG Estimate: Rs 807.1 crore)
- Net profit up 93% at Rs 119 crore Vs Rs 61.5 crore (BBG Estimate: Rs 93.3 crore)
- Ebitda up 63% at Rs 181.8 crore Vs Rs 111.3 crore (BBG Estimate: Rs 148 crore)
- Ebitda margin at 21.7% Vs 15%
- Declares dividend of Rs 10 per share
- Sales volumes grow 11% to 22.59 MSM
Markets At 2:10 P.M.
- Benchmark indices hold on to gains
- Nifty up 0.5% at 14,720
- Sensex up 0.5% at 50,060
- Nifty Bank up 0.2% at 32,622
- Nifty Midcap index unchanged
- Nifty Smallcap index up 0.3%
- India Volatility Index down 2.9% to 20.9
- Nifty Auto remains the top sectoral gainer; up 1.7%
- PSU Bank and Realty indices are the top sectoral laggards; down 1.4% each
- Nifty Metal index off the day's low; down 0.8%
- Tata Motors remains the top Nifty gainer; up 8%
- ONGC is the top Nifty laggard; down 1.9%
- 836 stocks on the NSE trade with gains while 1,030 decline
Metal Stocks Drag
In Focus: Bajaj Finance Vs HDB Financial
Buzzing Stock: Polycab India
- Second best performer on the Nifty Midcap index
- Trades at a record high
- Gains as much as 8.6% to Rs 1,322
- Up for the fourth straight day
- Today's volumes are quadruple its 20-day average
- Stock in overbought territory with Relative Strength Index (RSI) at 76.5
- 18 out of the 22 analysts tracking the stock have a buy recommendation; 0 sell calls
- The stock trades 12.5% higher than its 12-month consensus price target of Rs 1,150
Auto Index Top Sectoral Gainer
In Focus: CEAT
In Focus: The Rupee
Markets At Noon
- Benchmark indices trade near the day's high
- Sensex up 0.7% at 50,129
- Nifty up 0.6% at 14,739
- Nifty Bank up 0.55% at 32,719
- Nifty Midcap index up 0.6%
- Nifty Smallcap index up 1%
- India Volatility Index down 4.1% to 20.65
- Nifty Auto remains the top sectoral gainer; up 2%
- Nifty Metal is the top sectoral laggard; down 1.2%
- FMCG index gains 0.8% while other indices are mostly flat
- Tata Motors remains the top Nifty gainer; up 6.8%
- Tata Steel is the top Nifty laggard; down 1.6%
- 1,021 stocks on the NSE trade with gains while 790 stocks decline
In Focus: Bajaj Finance
Value In PSU Stocks?
In Focus: Havells
Markets At 10:10 A.M.
- Benchmark indices trade at a record high after Sensex scales 50,000 in opening trade.
- Nifty up 0.5% at 14,722
- Sensex up 0.55% at 50,070
- Nifty Bank up 0.5% at 32,717
- Nifty Midcap index up 0.6%
- Nifty Smallcap index up 0.7%
- India Volatility Index down 2.8% to 20.9
- Nifty Auto index is the top sectoral gainer; up 1.3%
- Nifty FMCG is the other major gainer; up 0.7%
- Nifty Realty and Nifty Metal are the top sectoral laggards; down 0.7% and 0.6% respectively
- Tata Motors is the top Nifty gainer; up 4.2%
- 36 out of the 50 index constituents advance
- Adani Ports is the top Nifty laggard; down 1.5%
- 1,132 stocks on the NSE are trading with gains while 615 decline
Morgan Stanley's Top Picks For 2021
Also Read: Morgan Stanley’s 12 Stock Picks For 2021
Sensex At 50,000
Also Read: Sensex’s Journey To 50,000: In Charts
Opening Bell
Indian equities opened higher for the third straight day, spurred by renewed optimism across global markets which also hit a record high.
The S&P BSE Sensex opened above the mark of 50,000 for the first time ever, trading with gains of 0.6%. It took over 200 sessions to scale the final 10,000 points for the index.
The NSE Nifty 50 has also opened at a record high, up 0.7% at 14,730.
All sectoral indices have opened with gains. The Nifty Bank index has gained 200 points in early trade to open above the 32,700 mark. I.T., Pharma and PSU Bank indices have opened with gains of 0.7% each while the Auto and FMCG indices are up 0.6% at the start of trade.
Broader markets have opened with gains as well. The Nifty Midcap index has opened 0.76% higher while the Smallcap index too has gained 0.73% at the start of trade.
Current Market Update
Weekly Options Expiry Session
Good Morning!
Indian equities reversed all the losses made during Friday and Monday's trading session on the back of two days of rebound.
The S&P BSE Sensex is now 200 points away from the mark of 50,000. It scaled an intraday high of 49,874 during Wednesday's trading session.
Futures are off the day's high but still indicate that the markets may open the weekly options expiry session with some gains. The Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, rose 0.24% to 14,679 as of 8:15 a.m.
Stocks like Bajaj Finance Ltd., Bajaj Finserv Ltd., Havells India Ltd., L&T Technology Services Ltd. among others will react to their quarterly results reported after market hours on Wednesday.
Asian Paints and Bajaj Auto are the two Nifty names reporting numbers today while broader market names like Bandhan Bank Ltd., JSPL Ltd., Biocon Ltd., Kajaria Ceramics Ltd. among others will come out with their quarterly results.
Asian equities rose for the third straight day today while the Hang Seng hit the 30,000 mark for the first time since May 2019.
Futures on the Dow Jones are flat after the index ended 0.8% higher overnight.
West Texas Intermediate crude fell 0.4% to $53.08 per barrel.
Short on time? Well, then listen to this podcast for a quick summary of All You Need To Know before the opening bell.
RECOMMENDED FOR YOU
POPULAR