KEY HIGHLIGHTS
Closing Bell
Indian equities ended lower for the sixth straight session, ahead of the Union Budget on Monday, matching its longest losing streak since September last year.
The S&P BSE Sensex ended 1.3% lower at 46,285. The index has corrected close to 4,000 points from its all-time high on January 21.
The NSE Nifty 50 index also fell 1.3% to end at 13,634. The index fell for the first time in all five sessions of the week since February last year. It has now declined over 1,000 points from its own all-time high. 43 out of the 50 index constituents ended with losses.
Both the benchmarks posted their second consecutive weekly loss. It is the first time that the Sensex and Nifty have declined for two straight weeks since May last year.
Banks outperformed for the second straight day on Friday. The Nifty Bank ended 0.7% higher at 30,565 while the PSU Bank index ended with gains of 1.7%. The Nifty Realty index was the only other sectoral gainer, ending 0.5% higher.
Selling pressure was seen in all other indices with the Nifty Auto and Nifty I.T. indices declining over 2.5% each. The Nifty Metal index fell 1.9% while the Nifty Pharma index fell 1.8% in today's session. The FMCG index too saw a drop of 1.5%.
Broader markets ended lower but the losses were modest as compared to the benchmark indices. The Midcap index ended 0.4% lower while the Smallcap index fell 0.6%.
India Volatility Index rose 4.3% to 25.34.
1,022 stocks on the NSE ended with losses while 858 stocks bucked the trend to close higher.
How Did The Markets Fare This Week
Dabur India Q3FY21
Earnings Reaction: Sun Pharma
Markets At 2:30 P.M.
- Benchmark indices continue to fluctuate between gains and losses
- Nifty up 25 points at 13,841
- Sensex up 85 points at 46,954
- Nifty Bank up 1.8% at 30,916
- Nifty Midcap index up 0.7%
- Nifty Smallcap index little changed
- India Volatility Index up 3.6% to 25.16
- PSU Bank index is the top sectoral gainer; up 3%
- Nifty I.T. is the top sectoral laggard; down 1.5%
- Nifty Pharma and Nifty Auto index fall 1% each
- IndusInd Bank remains the top Nifty gainer; up 6.3%
- Dr Reddy's Laboratories remains the top Nifty laggard; down 5%
- 1,078 stocks on the NSE gain while 778 are declining
Indian Oil Q3FY21
Highlights From The Economic Survey
In Focus: IRFC
Pharma Stocks Drag
Earnings Reaction: Dr Reddy's Laboratories Q3FY21
Markets At Noon
- Benchmark indices continue to fluctuate between gains and losses
- Nifty down 20 points at 13,799
- Sensex down 70 points at 46,811
- Nifty Bank up 0.3% at 30,461
- Nifty Midcap index up 0.6%
- Nifty Smallcap index down 0.1%
- India Volatility Index up 4.3% to 25.3
- Nifty I.T. is the top sectoral laggard; down 1%
- Nifty Pharma is the other major laggard; down 0.8%
- Nifty Realty and Nifty Media index up 0.7% each
- IndusInd Bank is the top Nifty gainer; up 4.9%
- Maruti is the top Nifty laggard; down 3.2%
- 1,121 stocks on the NSE gain while 669 are declining
In Focus: M&M Financial
In Focus: Shriram Transport Finance
In Focus: TVS Motor
Budget 2021
Also Read: Budget 2021: What You Need To Know
Markets At 10:10 A.M.
- Benchmark indices give up opening gains to trade little changed
- Nifty up 0.25% at 13,853
- Sensex up 0.2% at 46,966
- Nifty Bank up 0.4% at 30,463
- Nifty Midcap index up 0.8%
- Nifty Smallcap index up 0.3%
- India Volatility Index up 2% to 24.78
- Nifty Auto and Nifty Realty are the top sectoral gainers; up 1.1% each
- Nifty Pharma is the top sectoral laggard; down 0.8% along with the FMCG index which is down 0.5%
- Mahindra & Mahindra is the top Nifty gainer; up 3.8%
- Axis Bank is the top Nifty laggard; down 1.8%
- 1,235 stocks on the NSE trade with gains while 493 decline
In Focus: Healthcare
Opening Bell
Indian equities opened higher after five straight days of losses but are still set for back to back weekly declines.
The S&P BSE Sensex opened 1.2% higher at 47,423 while the NSE Nifty 50 index gained 0.9% to open at 13,946. The Sensex corrected over 3,300 points over the last five trading sessions.
Among the sectoral indices, the Nifty Bank index opened 350 points higher or 1.1% while the Auto index gained a similar quantum. The Media and PSU Bank indices are up 1.4% each while the Metal index has also opened with gains of over a percent.
Broader markets too have opened higher with the Midcap index opening with gains of 1.1% while the Smallcap index has gained 1% at the start of trade.
Current Market Update
Back To Back Weekly Losses?
Good Morning!
Indian equities are set to decline for two straight weeks for the first time since May last year. The benchmarks are down for five straight days, with the Sensex declining more than 3,000 points from its all-time high on Jan. 21.
Futures, however, are indicating a rebound for Friday’s session. The Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, rose 0.9% to 13,961 as of 7:55 a.m.
The Economic Survey will be tabled in Parliament today ahead of the Union Budget on Monday. Besides, eight Nifty 50 constituents—Cipla, Dr. Reddy’s, Sun Pharma, Indian Oil Corp., IndusInd Bank, Tata Motors, Tech Mahindra and UPL—will report their quarterly results.
Aarti Industries, Coforge, InterGlobe Aviation, RBL Bank and BEL, among others may react to their quarterly results reported after market hours on Thursday.
Asian equities tracked gains of their peers on Wall Street to edge higher on the final trading day of the week. Equities in Hong Kong are outperforming, while gains in Japan are more modest.
Futures on the Dow Jones are trading 100 points lower. The index gained 1% on Thursday, rebounding from its worst drop since October.
West Texas Intermediate crude recovered from the day’s low, trading 0.1% higher at $52.39 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.
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