Sensex, Nifty End Lower For Second Day; RIL Ends As Top Laggard
A stockbroker holds a calculator as he monitors stock price information on his computer screens in London, U.K. (Photographer: Matthew Lloyd/Bloomberg)

Sensex, Nifty End Lower For Second Day; RIL Ends As Top Laggard

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Markets At Close

  • Benchmark indices end lower for second day led by Reliance Industries, despite last hour recovery
  • Nifty ends 0.46 percent lower at 9,196 - 153 points off day's low of 9,043
  • Nifty futures trade at a premium of 29 points
  • Sensex ends 0.6 percent lower at 31,371 - 527 points off day's low of 30,844
  • Nifty Bank ends 0.46 percent lower at 18,862 - 575 points off day's low of 18,287
  • Nifty Midcap and Smallcap Indices end 0.7 percent lower
  • Nifty Auto, Nifty FMCG recover from day's low to end with gains of 0.5 and 0.7 percent respectively
  • Nifty Pharma ends as top sectoral laggard; down 0.65 percent
  • Vedanta ends as the top Nifty gainer; up 12.44 percent
  • Reliance Industries ends as the top sectoral laggard; down 5.73 percent
  • 702 stocks ended the day with gains while 1,063 stocks ended with losses

RIL Single Handedly Takes The Indices Lower

Earnings Fineprint: Bandhan Bank Q4FY20

The private lender reported a net profit of Rs 517.28 crore as compared to Rs 650.87 crore during the same period last year.

The bank's Net Interest Income grew 33 percent compared to last year at Rs 1,680 crore.

Asset quality remained stable with Gross NPA at 1.48 percent from 1.93 percent in the previous quarter while Net NPA improved to 0.58 percent from 0.81 percent last quarter.

The stock recovered from the day's low to end 1.65 percent lower at Rs 235.90.

Closing Bell: RIL Drags Benchmarks Lower

Indian equity markets ended lower for the second straight day, dragged lower by the heavyweight Reliance Industries. Most European markets have recovered from the day's low, as have the futures on the Dow Jones which are now lower by 50 points.

The S&P BSE Sensex index ended 0.6 percent lower at 31,371 while the NSE Nifty 50 failed to hold the 9,200 mark, ending 0.5 percent lower at 9,196.

Among sectoral Indices, the Nifty Media index ended as the top gainer with gains of 1.6 percent. The Nifty Metals index too ended 1.3 percent higher, led by gains in Vedanta.

Market breadth saw a slight recovery but stayed in favour of the declines. 688 stock on the NSE ended with gains while 1,064 ended with losses.

Stock Update: Reliance Industries

  • Top laggard on the Nifty 50 index
  • Falls as much as 6.5 percent to Rs 1,474
  • Snaps five-day gaining streak
  • The five-day gaining streak was the longest in three months
  • Biggest one-day drop since March 23, 2020
  • Today's volumes are 1.2 times higher than its 30-day average
  • The stock is contributing 86 points to the Nifty downside
  • 28 out of the 35 analysts tracking the stock have a buy recommendation; 3 sell calls
  • Return potential of the stock as per Bloomberg data is 7.3 percent
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