Sensex gives up 51K amid broad-based sell-off, dips 435 pts; PSBs, auto hit

The Nifty PSU bank index ended as the top laggard on the NSE, down 4.7 per cent, after surging nearly 6 per cent each over the past two days

4:26 PM

MARKET CLOSING COMMENT :: Deepak Jasani, Head of Research, HDFC Securities

ndian benchmark equity indices ended lower for the fourth consecutive day on February 19 with selling seen across the sectors. After making an intra day high at 1030 Hrs, Nifty kept falling through the day, barring the recovery post 1500 Hrs. At close, the Nifty was down 137.20 points or 0.91% at 14,981.80. For the week, the Nifty closed down 1.2%.

 

Nifty has corrected for four straight days after a sharp consistent rise seen over the past few weeks. The oscillators/indicators have now eased out of overbought region. A move above 15030-15060 early next week could take the Nifty 15240 over the next few days. On falls, 14753-14900 could act as a good support in the near term.

4:01 PM

MARKET CLOSING COMMENT :: Vinod Nair, Head of Research at Geojit Financial Services

Consolidation continued as increasing volatility & weak global cues influenced investors to stand on the sidelines, leading the market to close below 15k level. PSU banks and mid-cap stocks which outperformed the market during the week attracted selling pressure today. Sentiments across the globe were also wounded by increasing bond yield, higher commodity price and the disappointing US data

4:00 PM

MARKET CLOSING COMMENT :: Rusmik Oza, Executive Vice President, Head of Fundamental Research, Kotak Securities

The Nifty-50 & BSE Sensex declined by 1.2% this week as market mood became cautious on rising global and local bond yields. The broader markets that is NSE Mid Cap 100 Index and BSE Small Cap Index are both in the green this week. The US 10 Year Bond yields have risen from below 1% to 1.29% building in economic impact of the US$ 1.9 trillion stimulus package. In India too the 10 year bond yields have moved up from recent low of 5.76% to 6.13% which could mainly be linked to the higher fiscal deficit estimates. We expect domestic 10-year bond yields to be in the range of 6-6.75% in this calendar year. Oil & Gas & power stocks were major gainers this week. Almost 37 stocks from Nifty-50 lost ground this week with Pharma and select consumers having lost the most. This week PSU banks were in demand on reports of government likely to bring amendments to two legislations later this year to facilitate privatisation of public sector banks. We need to see if Nifty-50 holds the 15,000 level in the near term. The next major support for the Nifty-50 is the 50 DMA placed at 14,321 as of now.

 

 

4:00 PM

TECH VIEW :: 15K to act as resistance now, says Rohit Singre, senior technical analyst at LKP Sec

Index closed a week on a negative note at 14982 with loss of more than one per cent and formed a bearish engulfing kind of candle pattern on weekly chart which represents trend reversal. As index managed to breached to its strong support of 15k mark which will acts as an immediate resistance now so above 15k mark we may see some relief otherwise we may see more downside levels of 14900-14750 on the other hand 15100-15170 will act as a strong hurdle on the higher side"

3:57 PM

Market stats :: 249 scrips hit 52-week high today

3:54 PM

STOCK OF THE DAY :: IDFC First Bank ends over 7% higher on fund raising plan

3:52 PM

STOCK OF THE DAY :: ONGC slides 5% on profit-booking

3:50 PM

Sectoral trends on NSE at Close

3:45 PM

Sensex Heatmap at Close

3:36 PM

CLOSING BELL

On Friday, though, the frontline S&P BSE Sensex nurses losses of 435 points, or 0.85 per cent, to end the day at 50,890 levels. 

 

On the NSE, the Nifty50 index gave up the 15,000-mark and settled at 14,982 levels, down 137 points or 0.9 per cent. It hit an intra-day low of 14,898.

 

3:28 PM

$3.5-bn govt fund for finishing stalled housing projects begins to pay off

A 250-billion-rupee ($3.5 billion) fund set up by India’s government to complete stalled housing projects is set to deliver its first finished apartments in 2021, offering a template for a problem that has washed out savings of thousands of home buyers and bankrupted developers. READ MORE

3:16 PM

Additional Budget allocation to wipe out fertiliser subsidy backlog: Ind-Ra

The credit metrics of fertiliser manufacturers in general and urea manufacturers in particular are likely to improve meaningfully in FY22 due to strong likelihood of clearance of subsidy backlogs after allocation of an additional Rs 62,600 crore fertiliser subsidy in the revised estimate of FY21, India Ratings and Research (Ind-Ra) said on Friday.

 

It will substantially reduce working capital debt and interest expenses. This will also encourage industry players to increase capital intensity to further improve their operating efficiencies, said Ind-Ra. READ MORE

3:04 PM

Fall from intra-day high in BSE500 stocks in today's session

COMPANY	DAY'S HIGH(RS)	DAY'S LOW(RS)	LATEST(RS)	FALL(%)
Central Bank	26.40	21.64	21.64	-18.03
I O B	20.90	17.10	17.15	-17.94
Bank Of India	101.45	83.80	83.80	-17.40
Bank Of Maha	27.73	22.69	22.97	-17.17

2:59 PM

Bears tighten grip! Sensex extends fall, down over 650 points

2:48 PM

Financials top Sensex drags in today's session

2:40 PM

Decisive break above Rs 47k needed for meaningful upside in gold: Rahul Gupta, Emkay Global

There is a negative correlation between gold and US bond yields. The selling pressure in gold is on hopes that US and global growth will recover more quickly as vaccines roll out. Also, the fears that additional fiscal stimulus will increase inflation are keeping US yields higher. So with yields rising and technical levels under fire, the fall may continue. MCX gold prices continue to trade with a negative bias. And the bearish outlook for the counter will stay until prices trade below 47000. Bounce will face resistance until then and prices will slip towards 45525/45110/44800 areas. A decisive break above 47000 is required for the bulls to make any meaningful comeback.

2:33 PM

U-Turn! Nifty PSU Bank index erases gains, turns worst sectoral perfomer

2:31 PM

Stock of this packaged foods company has zoomed 208% in six months

Shares of Hindustan Foods hit a new high of Rs 2,286, rallying 10 per cent on the BSE in intra-day trade on Friday in otherwise weak market. In the past one week, the stock of packaged foods company has gained 24 per cent after reporting the highest quarterly revenues and profit after tax (PAT) in its history for the quarter ended December 2020 (Q3FY21). READ MORE

2:23 PM

MARKET UPDATE:: Nifty gives up 15k; India VIX up 5%

2:19 PM

MARKET UPDATE:: Sensex extends losses, tumbles over 500 pts

2:08 PM

European markets check

European shares edged higher on Friday as an upbeat earnings report from Hermes boosted confidence in a broader economic recovery, although the benchmark STOXX 600 was set to snap a two-week gaining streak on concerns about a rise in inflation.

The pan-European index was up 0.1 per cent, with Hermes shares jumping 5.7 per cent as the Birkin bag maker said sales recovered sharply in the fourth quarter. The stock was among the biggest gainers on the STOXX 600 and helped lift the European personal goods index by 0.7 per cent. 

Still, the STOXX 600 was set to end the week nearly flat following three straight sessions of declines as optimism around a better-than-expected earnings season gave way to fears that rising inflation could lead central banks to start tapering a raft of stimulus packages.

 

All eyes later in the day will be on flash readings of business activity data from across the euro zone.

(-- via Reuters)

2:00 PM

Butterfly Gandimathi announces interim dividend of Rs 1.50/share

- March 3, 2021 has been fixed as the record date for the payment of said dividend

1:52 PM

Poly Medicure gains 6% on successful fund raising via QIP issue

Shares of medical equipment maker Poly Medicure rose 6 per cent to hit a new high of Rs 689 on the BSE in Friday’s intra-day trade after the company successfully raised Rs 400 crore through qualified institutional placement (QIP) route. In the past one week, the stock has rallied 16 per cent, as compared to a nearly 1 per cent decline in the S&P BSE Sensex. READ MORE

1:43 PM

Elon Musk says bitcoin is slightly better than holding conventional cash

Tesla Inc CEO Elon Musk on Thursday said that owning bitcoin was only a little better than holding conventional cash, but that the slight difference made it a better asset to hold. "However, when fiat currency has negative real interest, only a fool wouldn't look elsewhere," Musk said in a tweet. READ MORE

1:33 PM

Nifty sectoral indices at this hour

1:25 PM

NEWS FLASH :: Poly Medicure raises Rs 400 crore via QIP

The QIP committee at its meeting held today, i.e February 19, 2021, approved allotment of 76,33,587 equity shares of face value Rs 5 each to eligible qualified institutional buyers at the issue price of Rs 524 per share, aggregating to Rs 400 crore, the company said in an exchange filing. 

1:17 PM

Bitcoin nears $1 trillion market value as crypto jump tops stocks, gold

Bitcoin is closing in on a market value of $1 trillion, a surge that’s helping cryptocurrency returns far outstrip the performance of more traditional assets like stocks and gold. The largest token has added more than $415 billion of value in 2021 to about $956 billion, data compiled by Bloomberg show. The Bloomberg Galaxy Crypto Index, which includes Bitcoin and four other coins, has more than doubled. READ MORE

1:02 PM

Future Retail pays interest on 5.60% senior secured notes

- The company in an exchange filing said that on 18th February, 2021, it has made the payment of interest for the half year ended for an amount of $14 million on 5.60% senior secured notes due 2025.

 

- The company had initiated a grace period of 30 days on January 22, 2021 to pay the said interest 

12:56 PM

Stocks that hit 52-week high on BSE today in an otherwise volatile market

Company	PRICE(rs)	52 WK HIGH	CHG(%)
A B B	1596.15	1633.75	3.77
Adani Enterp.	813.00	830.85	0.65
Adani Ports	668.55	676.70	0.67
Advanced Enzyme	401.60	416.50	2.53
Bank Of Baroda	96.25	99.80	0.68

12:41 PM

NEWS FLASH :: Muthoot Finance board approves raising Rs 6,000 crore

Muthoot Finance at their meeting held today has considered and approved fund raising to the tune of Rs 6,000 crore by way of private placement of redeemable non-convertible debentures to be issued in one or more tranches. 

 

(Source: BSE filing)