Sensex, Nifty Close Lacklustre Session Little Changed Amid Profit-Booking
A trader works at the NYSE. (Photographer: Michael Nagle/Bloomberg)

Sensex, Nifty Close Lacklustre Session Little Changed Amid Profit-Booking

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Indian equity benchmarks closed little changed amid profit-booking after rising close to their year-to-date peak amid optimism about the restart of business activities as new coronavirus infections slow.

The NSE Nifty 50 Index climbed nearly 0.1% to 15,208.45 and was about 106 points away from recouping its record high close reached in February. The S&P BSE Sensex remained unchanged at 50,637.53. Thirteen out of the 19 sector sub-indices compiled by BSE Ltd. advanced, led by a gauge of consumer durables companies.

Sensex, Nifty Close Lacklustre Session Little Changed Amid Profit-Booking

The nation's daily virus cases have fallen to almost half of their peak earlier this month to just below 200,000. Some states have indicated at easing the restrictions as early as next week.

In earnings so far, 22 of the 38 Nifty 50 companies that have posted quarterly results have missed analysts’ estimates, while 14 have beaten or met them and two can’t be compared.

The short-term technical condition of the market appears like a sideways correction in the process. Sustaining above 15,000 levels, we expect the market to gain momentum, which could lead to an upside projection till 15,400 level. We have observed the momentum indicators like RSI, MACD to show divergence, indicating a likelihood of further consolidation around the current market level.  
Ashis Biswas, Head of Technical Research at CapitalVia Global Research

Emami Q4 Net Income Misses Estimates

Emami reported net income for the fourth quarter that missed the average analyst estimate.

  • Net income Rs 87.73 crore, estimate Rs 108 crore
  • Revenue Rs 731 crore, estimate Rs 705 crore
  • Total costs Rs 568 crore, +32% YoY
  • Other income Rs 46.5 crore vs. Rs 14.49 crore YoY

Alkem Lab Q4 Net Income Misses Estimates

Alkem Lab reported net income for the fourth quarter that missed the average analyst estimate.

  • Net profit Rs 240 crore, +27% YoY, estimate Rs 285 crore
  • Revenue Rs 2190 crore, +6.8% YoY, estimate Rs 2222 crore
  • Total costs Rs 1,980 crore, +7.6% YoY
  • Other income Rs 46.28 crore, +68% YoY
  • Dividend per share Rs 5
  • Approves restructuring of company's units in U.S.

Nifty At 18,500?

Asian Paints, Grasim, JSW Steel in Focus: Options Watch

  • Grasim options volume 3.5x the 20-day average, with 13,831 calls changing hands vs 4,081 puts
    • Stock up 0.6%, volume 1.7x the 20-day average for this time of day
  • Asian Paints options volume 2x the average, with 42,970 calls vs 11,768 puts
    • Stock up 2.9%, volume 1x the average
  • JSW Steel options volume 1.8x the average, with 35,703 calls vs 11,945 puts
    • Stock up 3.9%, volume 0.8x the average
  • Eicher Motors options volume 1.7x the average, with 5,590 calls vs 1,007 puts
    • Stock up 1.8%, volume 0.8x the average
  • Tata Consultancy options volume 1.6x the average, with 33,328 calls vs 11,191 puts
    • Stock up 1.2%, volume 0.6x the average
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