Nifty Ends Volatile Day Slightly Higher; Metals Shine, Autos Stall
Petting the stock market bull (Photographer: Dhiraj Singh/Bloomberg)

Nifty Ends Volatile Day Slightly Higher; Metals Shine, Autos Stall

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Closing Bell

Indian equity benchmarks swung between gains and loss through the session before closing marginally higher.

The S&P BSE Sensex ended the session little changed at 49,765 while the NSE Nifty gained 0.2% to 14,894. JSW Steel Ltd and Bajaj Finserv Ltd. were the biggest boosts to Nifty. Both the key indices have gained all four sessions this week.

 Nifty Ends Volatile Day Slightly Higher; Metals Shine, Autos Stall

Twelve out of the 19 sector sub-indices compiled by BSE Ltd. declined, led by a gauge of automobile makers. On the flip side, the S&P BSE Metal index was the star of the trading day, up 5.2%. (read more about it here)

Investors were buoyed by plans for another round of stimulus in the U.S. and the Fed’s pledge to keep interest rates lower, raised the prospect of more inflows into emerging markets. Sentiment toward local companies also improved as the nation’s biggest conglomerate to global giants stepped in to help ease India’s coronavirus crisis.

Bank Of Maharashtra Q4 Net Income Rs 165 Crore

Bank of Maharashtra reported net income for the fourth quarter of Rs 165 crore vs. Rs 57.57 crore YoY.

  • Gross non-performing assets 7.23% vs. 7.69% QoQ
  • Provisions Rs 1,310 crore vs. Rs 250 crore QoQ
  • Interest income Rs 3,100 crore, +10% YoY
  • Interest expense Rs 1,710 crore, -3.9% YoY
  • Other income Rs 1240 crore vs. Rs 390 crore YoY

Bajaj Auto Q4 Net Profit Meets Estimates

  • Net income Rs 1,332 crore, +2% YoY, estimate Rs 1,310 crore (Bloomberg Consensus)
  • Revenue Rs 8,600 crore, +26% YoY, estimate Rs 8190 crore
  • Total costs Rs 7,140 crore, +27% YoY
  • Other income Rs 284 crore, -46% YoY
  • Ebitda margin 17.7% vs. 18.4% YoY
  • Cash and cash equivalents Rs 17,690 crore
  • Ebitda Rs 1,524 crore, +21% YoY, estimate Rs 1,450 crore
  • Dividend per share Rs 140

Also read: Bajaj Auto Q4 Results: Profit Meets Estimates Despite Input Cost Pressures

Options Watch

  • Bajaj Finserv options volume 2.6x the 20-day average, with 15,477 calls changing hands vs 5,792 puts
    • Stock up 5.8%, volume 2.3x the 20-day average for this time of day
  • Hindustan Unilever options volume 1.8x the average, with 29,048 calls vs 9,335 puts
    • Stock up 0.7%, volume 1.1x the average
  • Bajaj Finance options volume 1.8x the average, with 52,995 calls vs 30,438 puts
    • Stock up 3.7%, volume 2.1x the average
  • Nifty 50 options volume 1.5x the average, with 12.4 million calls vs 12.4 million puts; gauge up 0.2%
    • Cost of hedging as measured by the 90/110, one-month skew ranks in the 95th percentile over the past year
  • India VIX Index up 3.1%
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