Sensex, Nifty Decline On Successive Days For The First Time In Two Months
Catch all live updates on share prices, index moves, corporate announcements and more from Indian stock markets today.
Closing Bell
Indian equity markets ended with a negative bias after a late cool off in banking stocks dragged the indices to their day's low.
The S&P BSE Sensex fell over 450 points from the day's high to end 80 points lower at 48,093. The NSE Nifty 50 too fell over 120 points from the highest point of the day to end nine points lower at 14,137. This is the first instance since October 30 when both the benchmarks have declined for two consecutive days.
Among the sectoral indices, the Nifty Bank failed to hold the 32,000 mark after trading above it for most parts of the day. The index fell 220 points from the day's high to end with gains of 0.5% at 31,956.
The Nifty Metal index, which was the top performing index in today's session, also cooled off from the day's high but ended with gains of 3.8%. The index ended at the highest level since October 2018.
Other gainers today included the Nifty Realty which gained 1.3% and the PSU Bank index, which gained 0.7%.
The laggards in today's session were FMCG and I.T. stocks. The FMCG index fell 0.9% while the I.T. index declined 0.7%.
Broader markets, however, outperformed the benchmark indices. The midcap index ended with gains of 1.4% while the Smallcap index rose by a similar quantum.
1,183 stocks on the NSE ended with gains while 709 stocks declined.
How Did The Sectoral Indices Fare
Buzzing Stock: IDFC First Bank
- Trades at a 52-week high
- Gains as much as 15% to Rs 47.6
- Biggest single-day gain on record
- Up for the sixth straight day
- Longest winning streak in two months
- Today's volumes are more than seven times its 20-day average
- Stock in overbought territory with Relative Strength Index (RSI) at 83
- Two out of the eight analysts tracking the stock have a buy recommendation; five sell calls
- The stock trades 43.5% higher than its 12-month consensus price target of Rs 26.17
In Focus: Tata Power
In Focus: Bitcoin
Markets At 2:10 P.M.
- Benchmark indices remain rangebound and off the day's high
- Nifty up 0.3% at 14,189
- Sensex up 0.2% at 48,266
- Nifty Bank up 0.9% at 32,081
- Nifty Midcap index up 1.5%
- Nifty Smallcap index up 1.5%
- India Volatility Index down 2.9% to 20.38
- Nifty Metal remains the top sectoral gainer; up 4.1%
- Nifty Realty is the other major sectoral gainer; up 1.9%
- Nifty Bank and PSU Bank index gain 0.9% each
- Nifty FMCG is the top sectoral laggard; down 0.8%
- Tata Steel remains the top Nifty gainer; up 6.5%
- Titan remains the top Nifty laggard; down 2%
- 1,277 stocks on the NSE trade with gains while 589 stocks decline
Active Stock Options
- Bharti Airtel's 550 Call: Premium up 92.6% to Rs 22.25. The contract has shed 1.5 lakh shares in Open Interest.
- Tata Steel's 720 Call: Premium up 109% to Rs 31.1. The contract has added 1.5 lakh shares in Open Interest.
- Reliance Industries' 2,100 Call: Premium down 5% to Rs 19.45. The contract has added 3.25 lakh shares in Open Interest.
Buzzing Stock: Dixon Technologies
- Among top gainers on the Nifty Smallcap index
- Trading at a record high
- Gains as much as 6.2% to Rs 15,344
- Up for the sixth straight day
- Today's volumes are 60% higher than its 20-day average
- Stock in overbought territory with Relative Strength Index (RSI) at 81
- Announced a partnership with BoAt to manufacture speakers
- 17 out of the 21 analysts tracking the stock have a buy recommendation; 1 sell call
- The stock trades 24.2% higher than its 12-month consensus price target of Rs 11,601
Real Estate Stocks Gain
In Focus: Ashok Leyland
In Focus: Steel Stocks
In Focus: Sobha
Markets At Noon
- Benchmark indices off the day's high but trade in a range
- Nifty up 0.3% at 14,188
- Sensex up 0.2% at 48,283
- Nifty Bank up 0.8% at 32,052
- Nifty Midcap index up 1.3%
- Nifty Smallcap index up 1.4%
- India Volatility Index down 3.2% to 20.3
- Nifty Metal is the top sectoral gainer; up 3.8%
- Nifty Realty gains 2.1% while Auto index gains 1.1%
- Nifty I.T. and FMCG index decline 0.6% each
- Tata Steel remains the top Nifty gainer; up 5.5%
- Titan is the top Nifty laggard; down 2%
- 1,300 stocks on the NSE trade with gains while 523 decline
In Focus: Bharat Forge
In Focus: Venky's
Metal Index Highest In Over Two Years
In Focus: Vodafone Idea
Markets At 10:10 A.M.
- Benchmark indices trade with gains after a pause on Wednesday
- Nifty up 0.4% at 14,203
- Sensex up 0.35% at 48,346
- Nifty Bank up 0.7% at 32,010
- Nifty Midcap index up 1.2%
- Nifty Smallcap index up 1.3%
- India Volatility Index down 2.8% to 20.4
- Nifty Metal is the top sectoral gainer; up 3.1%
- Nifty Realty index is the other major gainer; up 2.5%
- Nifty Auto index up 1.3% while the PSU Bank index gains 1.2%
- Nifty I.T. is the top sectoral laggard; down 0.8%
- Tata Steel is the top Nifty gainer; up 5.2%
- Infosys is the top Nifty laggard; down 1.5%
- 1,428 stocks on the NSE trade with gains while 345 are declining
Andrew Holland On The Markets
Opening Bell
Indian equity markets have begun the weekly options expiry session on a positive note, registering another record high in the process.
The S&P BSE Sensex, which snapped a 10-day winning streak on Wednesday, opened 0.73% higher at 48,524 while the NSE Nifty 50 index opened 0.76% higher at 14,253.
Among the sectoral indices, the Nifty Bank opened above the mark of 32,000 with gains of 1%.
The FMCG and Metal indices have opened with gains of 1% each while the PSU Bank index has opened with gains of 1.4%.
The Nifty Realty index is the top sectoral gainer, opening with gains of over 2%.
Broader markets are moving in tandem with benchmarks. Both Nifty Midcap and Smallcap indices have opened with gains of 1% each.
1,478 stocks on the NSE are trading with gains while 246 are declining.
Current Market Update
Weekly Options Expiry Session
Good Morning!
Indian equities paused their rally on Wednesday ahead of the weekly options expiry today. The S&P BSE Sensex snapped a 10-day winning streak, its longest since October, dragged by FMCG and IT stocks and heavyweight Reliance Industries Ltd. Foreign Portfolio Investors also turned net sellers on Wednesday, the first since Dec. 21.
Futures, however, are pointing to a rebound in today's session. The Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, rose 0.55% to 14,258 as of 8:05 a.m. on Thursday.
Sobha, Bandhan Bank, NCL Industries may react to their quarterly business updates. TCS will kick-start October-December earnings season on Friday.
Sentiment across the Asia Pacific is largely positive this morning after democrats took control of the Senate overnight. Benchmarks in Japan, Australia and South Korea are trading with gains, while those in Hong Kong are little changed.
Futures on the Dow Jones are trading 130 points higher. The index closed with gains of 1.4% on Wednesday.
West Texas Intermediate crude rose 0.3% to $50.77 per barrel, while gold traded at $1,921.1/Oz.
Short on time? Well, then listen to this podcast for a quick summary of All You Need To Know before the opening bell.