Sensex, Nifty Log Worst Fall In Two Weeks As RIL, Kotak Mahindra Bank Drag
An employee looks at trading information on a computer screen at an exchange office. (Photographer: Simon Dawson/Bloomberg)

Sensex, Nifty Log Worst Fall In Two Weeks As RIL, Kotak Mahindra Bank Drag

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Closing Bell: Sensex, Nifty Log Worst Fall In Two Weeks As RIL, Kotak Mahindra Bank Drag

Indian stocks registered their worst fall in two weeks after clocking all-time highs during the opening trade.

The S&P BSE Sensex fell nearly 1 percent, the most since Jan. 6, to close at 41,528.91 and the NSE Nifty 50 fell 0.98 percent to end at 12,230.75. The broader markets represented by the NSE Nifty 500 Index fell 0.89 percent.

Earlier today, the 30-stock index had risen as much as 0.78 percent to hit a record high at 42,273.87 and the 50-share gauge had risen as much as 0.63 percent to hit an all-time high at 12,430.50.

The market breadth was tilted in favour of sellers. About 1,163 stocks declined and 634 shares advanced on National Stock Exchange.

Nine out of 11 sectoral gauges compiled by NSE ended lower, led by the NSE Nifty Media Index’s 1.9 percent fall. On the flipside, the NSE Nifty Realty Index was the top sectoral gainer, up 0.39 percent.

Hindustan Zinc Swings After Q3 Results

Shares of Hindustan Zinc fluctuated between gains and losses to trade 0.25 percent lower at 216.50 after the company announced quarterly results.

Key Earnings Highlights (Q3, YoY)

  • Revenue down 15.7 percent to Rs 4,671 crore.
  • Net profit down 26.7 percent to Rs 1,620 crore.
  • Ebitda down 19.4 percent to Rs 2,288 crore.
  • Margin at 49 percent versus 51.2 percent.
  • Other income down 19 percent to Rs 445 crore.

Fab Four Stocks Of The Day

NMDC

  • Stock rose as much as 7.4 percent to Rs 139.35.
  • Company undertakes second price hike for January.
  • Increases price of fines by 14 percent to Rs 2,910 per tonne.
  • Increases price of lumps by Rs 400 per tonne to Rs 3,200 per tonne.
  • To be included in Nifty CPSE Index

Bank of Maharashtra

  • Stock rose as much as 12.1 percent, the most since Dec. 26, to Rs 15.25 after the lender announced December quarter results.
  • Net interest income up 36 percent to Rs 1,186.1 crore.
  • Net profit at Rs 135.3 crore versus net loss at Rs 3,764.3 crore.
  • Provisions at Rs 794.1 crore versus Rs 4,538.23 crore (Rs 404 crore QoQ)
  • GNPA at 16.77 percent versus 16.86 percent (QoQ)
  • NNPA at 5.46 percent versus 5.48 percent (QoQ)

Deccan Gold Mines

  • Stock rose as much as 14.2 percent to Rs 25.70.
  • The company is scheduled to announced quarterly results today.

Godawari Power & Ispat

  • Stock rose as much as 3.1 percent to Rs 244.90.
  • Received consent from environment board to operate rolling mill and iron ore beneficiation plant.
  • Both these facilities are presently under commissioning; operations will start in current quarter.

Stocks Moving On Heavy Volumes

NHPC

  • Stock rose as much as 20 percent to Rs 29.10.
  • Trading volume was more than 60 times its 20-day moving average.

Cochin Shipyard

  • Stock rose as much as 15.5 percent to Rs 491.70.
  • Trading volume was more than 30 times its 20-day moving average.

Prestige Estates Projects

  • Stock rose as much as 13.6 percent to Rs 426.
  • Trading volume was almost 11 times its 20-day moving average.

Global Markets Update: Europe Markets Decline Along With U.S. Futures

European stocks edged lower and U.S. equity futures drifted as investors awaited this week’s fresh batch of corporate earnings

  • Futures on the S&P 500 Index declined 0.1 percent.
  • The Stoxx Europe 600 Index dipped 0.1 percent.
  • The MSCI Asia Pacific Index was little changed.
  • The MSCI Emerging Market Index fell 0.1 percent.

Get your daily fix of global markets here.

Federal Bank Q3 Profit Rises 32%, Asset Quality Improves

Shares of Federal Bank fluctuated between gains and losses to trade 1 percent lower at Rs 90.65 after announcing December quarter results.

Key Earnings Highlights (Q3, YoY)

  • Net interest income up 7.2 percent to Rs 1,155 crore.
  • Net profit up 32.1 percent to Rs 440.6 crore.
  • Provisions at Rs 160.9 crore versus Rs 190.1 crore (Rs 251.8 crore QoQ)
  • GNPA at 2.99 percent versus 3.07 percent (QoQ)
  • NNPA at 1.63 percent versus 1.59 percent (QoQ)
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