Sensex, Nifty End Little Changed As Banks Cool Off; Autos, Pharma Drag
Men watch the electronic stock ticker at the Bombay Stock Exhange (BSE) in Mumbai. (Photographer: Adeel Halim/Bloomberg News)

Sensex, Nifty End Little Changed As Banks Cool Off; Autos, Pharma Drag

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Pressure At Higher Levels

Indian equities faced pressure at higher levels, snapping a six-day winning streak after cooling off from the day's high in the final minutes of trade.

The S&P BSE Sensex ended 20 points lower at 51,329, declining over 500 points from the day's high. The NSE Nifty 50 also fell 150 points from the highest point of the day to end seven points lower at 15,109.

Benchmark indices faced pressure from banking stocks which had a volatile trading session. The Nifty Bank index traded in an 800-point range but managed to eke out gains for the ninth straight day.

Pressure came from Pharma, Metals, Media and Auto stocks. The Media index was the top laggard, ending 1.9% lower courtesy the losses in Sun TV and Zee Entertainment.

The Nifty Auto index fell 1.4% while the Nifty Pharma and Nifty Metal index declined over 1% each in today's session.

Broader markets also gave up gains to end with a negative bias. The Nifty Midcap index fell 0.1% while the Small cap index fell 0.5% at the close of trade.

The India Volatility Index reversed from the day's low to end 1.3% higher at 24.27.

792 stocks on the NSE ended with gains while 1,111 stocks posted losses.

Adani Ports Q3FY21 Meets Street Estimates

Balkrishna Industries Approves Capex Plan

Muthoot Finance Q3FY21 (Consolidated, YoY)

  • Net Interest Income up 13% at Rs 1,819.4 crore Vs Rs 1,611.2 crore
  • Net profit up 22% at Rs 991.4 crore Vs Rs 815.2 crore
  • Loan assets up 31% to Rs 50,319 crore
  • Gross Stage III assets at 1.56%
  • Non-gold portfolio in subsidiaries constituted 10% of consolidated loan portfolio

New Highs For Benchmark Indices

  • Nifty up 0.8% at 15,241
  • Sensex up 0.8% at 51,770
  • Nifty Bank up 1% at 36,351
  • Nifty Midcap index up 0.5%
  • Nifty Small cap index up 0.2%
  • India Volatility Index down 1.8% to 23.5
  • PSU Bank index off the day's high but remains top sectoral gainer; up 1.3%
  • Media index down 1% while Auto index falls 0.6%
  • Asian Paints is the top Nifty gainer; up 4.3%
  • Mahindra & Mahindra is the top Nifty laggard; down 3%
  • 984 stocks on the NSE trade with gains while 872 are declining

Bodal Chemicals Announces Acquisition, Capacity Expansion

  • To acquire Siel Chemical Complex in Punjab worth Rs 137 crore on a slump sale basis
  • Technology upgrade of the plant will increase production capacity to 99,000 MTPA from 82,500 MTPA
  • To increase capacity of proposed Specialty Benzene Downstream Products plant to 78,960 MTPA from 55,000 MTPA
  • Projects expected to be completed by end of Q3FY23 and likely to generate revenues of around Rs 550 crore at optimum utilisation levels.
  • To fund acquisition and expansion through internal accruals and long-term debt.
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