Sensex, Nifty Gain For Second Day; Nifty Bank Up Another 800 Points
Closing Bell: Banks All The Way...Again
Indian equity markets ended higher for the second straight day with banking stocks leading the charge yet again.
The S&P BSE Sensex ended 1.27% higher at 40,261 while the NSE Nifty 50 regained the mark of 11,800, ending 1.2% higher at 11,813.
After a 990 point surge on Monday, the Nifty Bank contributed another 3% or close to 800 points in today's session, taking the two-day tally to nearly 1,800 points.
Auto, Pharma and PSU Banks were the other outperformers in today's session, with the respective sectoral indices ending with gains of over 1.5% each.
The Nifty Realty index was the top laggard in today's session, ending 2.3% lower. Also ending lower was the Nifty Media index, with cuts of 0.4%.
Broader markets gave up most of the day's gains to end mixed. The Nifty Midcap index ended 0.6% higher while the Smallcap index ended little changed.
995 stocks on the NSE ended with gains while 831 posted losses.
Earnings Reaction: Dabur India Q2FY21
- Revenue up 14% to Rs 2,516 crore Vs Rs 2,212 crore
- Net profit up 20% to Rs 482.8 crore Vs Rs 403.6 crore
- Ebitda up 16% to Rs 569.4 crore Vs Rs 489.6 crore
- Ebitda margin at 22.6% from 22.1%
- Advertising and Promotion expenses up 40% to Rs 202 crore from Rs 144.2 crore
- Consumer Care Business revenue up 18% to Rs 2,217.1 crore from Rs 1,884.7 crore
- Food business revenue down 4% to Rs 256.8 crore from Rs 267.1 crore
- Retail business revenue down 62% to Rs 11 crore from Rs 29.2 crore
- 70.8% growth in health supplements backed by ~2x sales of Dabur Chyawanprash and double-digit growth in Dabur Honey.
- Market share in Chyawanprash category up 190 basis points
- Pudin Hara Portfolio saw double-digit growth
- Hajmola portolio impacted due to restricted outdoor activity
- OTC business up 56.1% led by strong growth in Lal Tail and Shilajit
- Oral care business up 24.2%; Red toothpaste continues to see good momentum
- Toothpaste market share improved 90 basis points
- Hair oil business down 6.3% due to low CSD sales
- Market share in shampoo category up 80 bps; segment growth of 17.8%
Markets At 2:10 P.M.
- Benchmark indices continue to hold gains of over 1%
- Nifty up 1.1% at 11,803
- Sensex up 1.2% at 40,230
- Nifty Bank up 2.9% at 25,620
- Nifty Midcap index up 0.8%
- Nifty Smallcap index up 0.4%
- India Volatility Index down 4.7% to 24
- Nifty Realty remains the only sectoral laggard; down 2.5%
- Nifty Metal is the other major sectoral gainer; up 2.3%
- Nifty Auto up 1.7% while the PSU Bank index is up 1.3%
- ICICI Bank remains the top Nifty gainer; up 5.7%
- UPL remains the top Nifty laggard; down 5.7%
- 1,078 stocks on the NSE trade with gains while 698 are declining
HEG In Focus
Time To Book Profits?
Markets At Noon
- Benchmark indices hold on to gains of over 1%
- Nifty up 1.2% at 11,805
- Sensex up 1.2% to 40,233
- Nifty Bank up 2.3% to 25,472
- Nifty Midcap index up 0.7%
- Nifty Smallcap index up 0.5%
- India Volatility Index down 2.4% to 24.6
- Nifty Metal index extends gains; up 2%
- Nifty Auto is the other major sectoral gainer; up 1.6%
- Nifty Realty is the top sectoral laggard; down 1.2%
- ICICI Bank remains the top Nifty gainer; up 4%
- UPL is the top Nifty laggard; down 5.7%
- 1,142 stocks on the NSE are trading with gains while 631 decline.