Autos, RIL set-off losses in banks; Sensex dips 20 pts, Nifty holds 15,100

The broader markets, however, bucked the trend and ended higher today. The S&P BSE MidCap and SmallCap indices added 0.7 per cent and 0.4 per cent, respectively at close

4:18 PM

MARKET CLOSING COMMENT :: Shrikant Chouhan, Executive VP, Equity Technical Research at Kotak Securities

The benchmark index moved in a narrow range. Today’s intraday activity has been lackluster with a momentum of near 190/650 points. The global cues were tepid too. Most of the indices which were trading on a positive note however, missed the follow through activity. Among sectors, Reality and Auto sectors was the top gainers while profit booking was seen in private banks, metal and selective infra stocks. Post the 1500/5600 points sharp rally, index is trading within a narrow range, which indicates bulls may have started feeling discomfort to go further long near 15250/51810. But technically, a fresh uptrend rally is possible only after 15270/51900. For the next few trading sessions, 15270/51900 should act as a trend decider level, above which we can expect a breakout rally towards 15315-15350/52500-53000. However, trading below 15045 /51300 could possibly open one more correction wave up to 14880/ 50800-50500 levels

4:07 PM

TECH VIEW :: Ashis Biswas, Head of Technical Research, CapitalVia Global Research

The market manages to hold above the Nifty 50 Index support level of 15,000. the technical factors are aligned to support a range-bound market movement in the coming week. Therefore, The short-term traders should use the rally to exit while buying any dip towards the support level around 14,900-14,800. The level of 15,230-15,250 act as short-term resistance. The momentum indicators like RSI, MACD to show divergence, supporting our view that the market is likely to take a pause around this level and stay in a range

 

4:06 PM

MARKET CLOSING COMMENT :: Sahaj Agrawal, Head of Research- Derivatives at Kotak Securities

Previous few weeks have been quite volatile where in Nifty witnessed a 7.5 percent correction and an equally strong bounce back to scale new highs. The medium term undertone continues to be extremely positive; in the near term some consolidation is expected before the up-move resumes. We believe 14700-14800 is a strong entry range for the index and on the higher side one can expect 15700-16000. IT and select BFSI stocks look positive while Metals and Realty are expected to witness consolidation

4:01 PM

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

The market witnessed a slip in its momentum during a volatile day as losses in banking stocks weighed on the sentiment. Auto, realty and consumer stocks remained firm along with mid and smallcap indices outperforming. US markets remained positive, supported by upbeat quarterly earnings while the trend was followed by most of the global peers

 

3:59 PM

Market stats

3:57 PM

Stocks that dragged the Sensex lower today

 

3:54 PM

Tata Steel partly paid shares hit 15% lower circuit

3:52 PM

Eicher Motors ends 1.6% lower as Q3 nos disappoint investors

>> Co reported net profit of Rs 534 cr, vs Street expectations of Rs 550 crore

>> Margins contracted 130 bps YoY

3:48 PM

STOCK ALERT :: Page Industries ends 5% higher as Q3 PAT grows 77% YoY

3:46 PM

STOCK ALERT :: Muthoot Finance ends over 6% higher on healthy Q3 results

3:44 PM

Broader markets defy gravity, MidCap index ends 0.7% higher

3:42 PM

Sectoral trends on NSE at Close

3:41 PM

Sensex Heatmap at Close

3:35 PM

CLOSING BELL

Recovering from day's low, the Sensex index settled at 51,309 levels on the BSE, down 20 points or 0.04 per cent.
 

NSE's Nifty50, on the other hand, closed 3 points, or 0.02 per cent, lower at 15,106.5 levels with 22 of the 50 constituents ending the day in the red.

 

3:25 PM

Dec Quarter Result :: SpiceJet reports net loss of Rs 67 cr vs Rs 78 cr profit Yo

>> PLF at 78% vs 75% QoQ

>> Revenue at Rs 1,690 crore vs Rs 3,660 cr YoY

3:20 PM

ALERT :: Sensex back in the green

3:14 PM

Profits, credit quality of firms in India recovering 6 months faster: S&P

The report discusses the pace at which corporate sector in these countries is likely to recover from Covid-19 pandemic. It also includes a list of credit trends on the radar of S & P Global Ratings analysts in 2021, including demand recovery, funding conditions and financial discipline. READ MORE

3:04 PM

MARKET UPDATE:: Sensex off day's low

2:58 PM

Page Industries rallies 7%, hits fresh 52-week high on robust Q3 results

The company reported a 77 per cent year-on-year (YoY) growth in profit after tax (PAT) of Rs 153.7 crore on the back of healthy operational performance. The stock has risen 12 per cent in the past two trading days. Jockey is the company’s flagship brand and a market leader in the premium innerwear and leisurewear category. READ MORE

2:56 PM

Eicher Motors Q3 results :: PAT at Rs 533 crore

• PAT at Rs 533 crore against Rs 499 crore YoY
• Revenue up 19% YoY at Rs 2,828 crore vs Rs 2,371 crore in Q3FY20
• EBITDA up 13% YoY at Rs 672 crore vs 592 crore in Q3FY20
• Shares tank post Q3 results, wipe off gains, slip into the red

2:47 PM

Five-fold spike in BoI's Q3 net at Rs 541 cr as NPA provisions dip

Its net interest income (NII) for reporting quarter, fell by 9.19 per cent to Rs 3,740 crore in Q3FY21 from Rs 4,118 crore in Q3FY20. The net interest margin (NIM) for domestic operations also contracted sharply from 3.45 per cent in Q3FY20 to 2.81 per cent in Q3FY21.

 

The non-interest income also declined from Rs 2,068 crores in Q3FY20 from Rs 2,503 crore in Q3FY21, Bank said in a statement. READ MORE
 

2:38 PM

NEWS FLASH :: BEML declares interim dividend of Rs 4.80 per equity share of Rs 10 each

The company has fixed record date on February 19 for payment of said interim dividend 

2:31 PM

Oil price rally falters despite unexpected drop in US inventories

Oil prices slipped on Wednesday, threatening to end the longest rally in two years as investors shrugged off industry data showing a fall in U.S. crude oil stocks that added to optimism about an expected rise in global fuel demand. Brent crude was down by 1 cent at $61.08 by 0752 GMT after rising nearly 1% on Tuesday, when it touched a 13-month high. U.S. crude dropped 8 cents to $58.28.

 

(Soure: Reuters)

2:25 PM

Dec Quarter Result :: Page Industries posts 77% YoY growth in PAT at Rs 153.7 crore

>> Revenue up 16.8% YoY at Rs 927.1 crore

>> Ebitda up 63% YoY at Rs 226.1 crore

>> Ebitda maegin expands 640 bps to 24.4%

2:20 PM

Yes Bank CEO says foreign firms keen to invest in proposed ARC

Yes Bank is seeing interest from foreign firms keen to invest in the asset reconstruction company (ARC) it plans to launch to hive off soured loans worth 500 billion rupees ($6.86 billion), according to the bank's top executive. "There has been lot of interest from foreign investors for our ARC business. We are likely to put in initial capital of 10 billion rupees while the foreign investor will put in nearly 25 billion rupees," Prashant Kumar, CEO of Yes Bank, told Reuters in an interview late on Tuesday.

 

(Source: Reuters)

2:10 PM

Magma Fincorp soars 45% in 3 days on improved collection efficiency in Q3

Shares of Magma Fincorp were locked in the 10 per cent upper circuit band at Rs 84.95, surging 45 per cent in three days, after the company said disbursements in December quarter (Q3FY21) grew by 45 per cent year on year (YoY) driven by pick-up in used assets and affordable housing. The company registered improvement in collections, with collection efficiency of 90 per cent in October and November, and 94 per cent in December 2020. The bounce back in vehicle sales has been stronger than anticipated and demand for mobility and own housing will drive lending in 2021, it said. READ MORE

2:04 PM

European indices tick up in early deals

(Source: Reuters)

1:53 PM

SBI Life, HDFC Life: Insurance cos eyeing reforms, stay invested: Analysts

The insurance sector clocked a muted growth in business premiums in of January with gross premium underwritten by non-life insurers growing 6.7 per cent year on year (YoY) to Rs 18,488 crore and life insurers recording growth of 3.7 per cent YoY in new business premium to Rs 21,389.7 crore. While the life insurance sector reported positive premium growth in January 2021, the year-to-date (YTD) growth in FY21, in first year premium collection, remains negative. "The sector reported a dip of 1.2 per cent in first year premium to Rs 2.12 trillion in YTD from Rs 2.14 trillion in YTD FY20,” noted a report by CARE Ratings dated February 8. READ MORE

1:42 PM

MARKET UPDATE:: Sensex at day's low

1:34 PM

Just profit booking? Why investors are staying away from equity MFs

Mutual funds are steadily falling out of favour among investors if the recent data is anything to go by. Despite a strong rally in the market, investors have pulled out money from mutual funds for the seventh straight month in January. According to the recent data by Association of Mutual Funds in India (Amfi), equity mutual funds have witnessed net outflows of Rs 9,253 crore last month, taking the total outflows to Rs 42,200 crore since July. READ MORE