Sensex, Nifty End Little Changed As Banks Cool Off; Autos, Pharma Drag
Catch all live updates on share prices, index moves, corporate announcements and more from Indian stock markets today.
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.
Firstsource Solutions Q3FY21 (Consolidated, QoQ)
- Revenue up 15% at Rs 1,365.3 crore Vs Rs 1,187.7 crore
- Net profit up 15% at Rs 121 crore Vs Rs 105.2 crore
- Ebit up 19% at Rs 147.7 crore Vs Rs 124.6 crore
- Ebit margin at 10.8% Vs 10.5%
- BFS revenue up 15% at Rs 702.3 crore Vs Rs 611.6 crore
- Healthcare revenue up 7% at Rs 341.2 crore Vs Rs 318.6 crore
- Communications, Media and Technology revenue up 25% at Rs 277 crore Vs Rs 222 crore
- Constant Currency growth of 23.8%
- Onboarded 18 new clients during the quarter
Record High Prices For Petrol & Diesel
Indian Energy Exchange At Record High
- Top gainer on the Nifty Small cap index
- Gains as much as 10.1% to Rs 282.4
- Biggest single-day gain since October 2018
- Has gained in six out of the last seven trading sessions
- Today's volumes are 41% higher than its 20-day average
- Stock in overbought territory with Relative Strength Index (RSI) at 78
- 13 out of the 14 analysts tracking the stock have a buy recommendation as per Bloomberg; 1 sell call
- Return potential of the stock as per Bloomberg data is 5%
Sun TV Leads Losses On The Media Index
Benchmark Indices At The Day's High
- Nifty up 0.7% at 15,226
- Sensex up 0.7% at 51,710
- Nifty Bank up 1% at 36,324
- Nifty Midcap index up 0.4%
- Nifty Smallcap index up 0.3%
- India Volatility Index down 1.2 to 23.66
- Nifty PSU Bank index remains the top sectoral gainer; up 2.4%
- Nifty Auto and Nifty Media indices are the top sectoral laggards; down over 1% each
- Nifty Realty index gains 0.9% while Metal and I.T. indices gain over 0.5% each
- ONGC is the top Nifty gainer; up 3.6%
- Mahindra & Mahindra is the top Nifty laggard; down 2.8%
- 1,063 stocks on the NSE trade with gains while 747 stocks decline
U.S. Business Underperformance Drags Torrent Pharma
Balaji Amines At Record High
PNB Leads Gains On The PSU Bank Index
Sun TV's Advertising Revenue Underperforms
Benchmark Indices Gain For The Seventh Day
- Markets hold on to opening gains
- Nifty up 0.36% at 15,169
- Sensex up 0.3% at 51,493
- Nifty Bank down 0.5% at 35,782
- Nifty Midcap index up 0.2%
- Nifty Small cap index up 0.4%
- India Volatility Index down 0.5% to 23.85
- Nifty Media index is the top sectoral laggard; down 1.5%
- Nifty I.T. is the top sectoral gainer; up 1.1%
- Nifty Auto index down 0.5% while Realty index gains 0.4%
- UPL is the top Nifty gainer; up 2.8%
- Tata Motors is the top Nifty laggard; down 2.5%
- 986 stocks on the NSE are trading with gains while 761 decline
BPCL Shares Rise Post Q3 Results
Opening With A Positive Bias
Indian equities have had a subdued start but with a positive bias, opening with gains for the seventh straight day.
The S&P BSE Sensex opened 0.2% higher at 51,484 while the NSE Nifty 50 gained 0.3% to open at 15,164 - their respective new highs.
Among the sectoral indices, the Nifty Bank index opened 0.2% higher at 6,058 while the PSU Bank index opened with gains of 0.2% as well.
The Nifty Media index was down 0.4% while the FMCG index rose 0.4% at the start of trade.
Broader market indices also opened higher, with the Nifty Midcap index and the Nifty Small cap index opening with gains of 0.4% each.
Current Market Update
A Subdued Start Likely
Good Morning!
Indian equities gained for the sixth straight day on Monday, registering new highs in the process. The S&P BSE Sensex closed above the mark of 51,000 while the NSE Nifty 50 index closed above the 15,000 mark for the first time ever.
Futures are indicating a flat but a start with a positive bias to today's session. The Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, rose 0.2% to 15,176 as of 8:05 a.m.
For today's session, stocks like BPCL, Balkrishna Industries, NMDC, Torrent Pharma, SPARC among others will be reacting to their quarterly results.
Adani Ports & SEZ along with Tata Steel are the two index names reporting numbers today while the list within the broader market names includes the likes of Berger Paints, Burger King, HEG, Lemon Tree Hotels, MGL, Muthoot Finance, Raymond among others.
The rally in global equities has taken a pause this morning with benchmark indices in Japan and Hong Kong trading little changed while those in Australia traded with losses.
Futures on the Dow Jones are trading flat after the index gained 0.8% overnight to close at a record high.
West Texas Intermediate crude gained 0.5% to $58.24 per barrel while Brent crude rose past the $60 per barrel mark for the first time in over a year.