Sensex ends flat after volatile trade, holds 52k; IT stks dip, metals shine

The broader markets ended higher today with the S&P BSE MidCap and SmallCap indices settling 0.2 per cent and 0.43 per cent up, respectively

3:51 PM

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

Market, though volatile, kept its momentum during the morning hours, however, failing to hold on to it due to a weak opening of European markets. The downfall was aggravated by private banks, IT and FMCG stocks while mid and small caps continued their outperformance. Increased interest was seen in PSU Banks as the government shortlisted four banks for privatisation. The Indian market has been absorbing the global trend these days and we expect that to continue due to the lack of any major domestic event

 

3:51 PM

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

Nifty 50 Index is still holding above the support level of 15250. It is critical to sustaining above the 15250 Nifty50 Index level to keep the short-term positive trend intact. It has observed volatility to expand in today’s trading session indicating profit booking and stock distribution at a higher market level. Investors should buy on a breakout of 15370 and look for an exit around 15520. Overall, the investor should maintain a stop at 15250.

3:50 PM

TECH VIEW :: Rohit Singre, senior technical analyst at LKP Securities

Index opened a day with gains but unable to hold the gains for long and witnessed a profit booking and closed a day on flattish at 15318. Though after spike in volatility index managed to hold above the important support which is at 15250, going forward also it will act as immediate support followed by 15100 odd levels holding above said levels we may see current momentum to extend further towards immediate hurdle zone of 15400-15500 zone

 

3:50 PM

MARKET CLOSING COMMENT :: S Ranganathan, Head of Research at LKP Securities

While the closing today may not be reflective of the day's action, the street went berserk on Metals & Public Sector Enterprises. Despite bouts of profit booking throughout the day, the resurgence of corporate earnings coupled with continued FPI flows kept the bullish undertone intact

3:49 PM

Market stats :: Market breadth remains around 1:1.5 in favour of declines

3:47 PM

Stocks that dragged the Sensex lower today

3:46 PM

Sectoral trends on NSE at Close

3:45 PM

Sensex Heatmap at Close

3:37 PM

CLOSING BELL

The S&P BSE Sensex settled at 52,104 levels, down 50 points or 0.1 per cent.

 

The NSE's Nifty50, on the other hand, managed to hold the 15,300 level and ended at 15,313, down 1.25 points or 0.01 per cent. 

3:30 PM

Amid RIL deal woes, Future's creditors scramble over $2.5-bn loans: Report

Future may face liquidation if the deal, already mired in legal wrangling, falls through and banks are actively discussing an alternate one-time restructuring option that could include an easier repayment tenure and fresh capital infusion, the people said on condition of anonymity as the talks are private. READ MORE

3:17 PM

After rally, steel and iron ore on course correction led by higher supplies

The correction in prices started in the middle of January, with secondary steel producers dropping drop long product prices by Rs 7,000-8,000 a tonne; primary producers followed in February with a reduction of Rs 2,000-3,500 a tonne. READ MORE

3:08 PM

Top losers on BSE at this hour

Company	PRICE(rs)	CHG(%)
Info Edg.(India)	5119.80	-7.25
Dalmia BharatLtd	1398.20	-5.07
Suzlon Energy	5.58	-4.94
Varun Beverages	898.90	-4.74
Indian Energy Ex	278.90	-4.13

3:02 PM

UK PM Johnson warns no 'cast iron' guarantee over lifting Covid-19 lockdown

During a Downing Street briefing on Monday evening, Johnson said he can't offer any cast iron guarantees because while infections are falling, there are still more COVID-19 patients in hospitals than the peak of the pandemic in April 2020. READ MORE

2:54 PM

BUZZING STOCK :: Power Grid shares hit fresh 52-week high

2:46 PM

From Goldman Sachs to ICICI Sec: Why brokerages are bearish on Voda Idea

Vodafone Idea's (Vi) December quarter results failed to budge brokerages into changing their bearish stance on the stock, even as the telecom operator reported narrowing of losses during the quarter under review. The debt-ridden telecom firm, on Saturday, reported narrowing of consolidated loss to Rs 4,532.1 crore in Q3FY21, mainly on account of a one-time gain from stake sale in Indus Towers. READ MORE

2:40 PM

Sector Watch :: BSE IT index drops 1%, worst sectoral performer

2:34 PM

Market Update :: Broader markets outperform Sensex

BSE Midcap index was trading 0.17% higher while BSE Smallcap index was up 0.28%. BSE Sensex was down 0.16% in late afternoon session 

2:32 PM

Pandemic may push NBFC stressed assets to Rs 1.5-1.8 trn by March: Crisil

The stressed assets of finance companies in India are expected to reach 6-7.5 per cent of their overall assets under management by March, according to rating agency Crisil. Stressed assets are essentially the combined pool of bad loans and restructured credit. In absolute terms, the tally works out Rs 1.5-1.8 trillion. The maximum pain in expected to be in real estate segment. READ MORE

2:22 PM

NEWS ALERT | FM Sitharaman addresses the Central Board of Directors of RBI

-- The FM outlined the thinking behind Union Budget 2021 and the govt's priorities

 

-- The board reviewed the current economic situation, global, domestic challenges and various areas of operations of the RBI

2:15 PM

European markets check

(Source: Reuters)

2:05 PM

ICICI Bank, Infosys, Axis Bank top drags on Sensex

2:01 PM

All the Nifty sectoral indices, barring Nifty Metal and Nifty PSU Bank indexes, trade in red

1:54 PM

NEWS ALERT | TCS bags order from South African Bank, BankservAfrica for payment solutions

1:46 PM

Credit Suisse upgrades India to overweight in APAC portfolio

The sharp turnaround in the economy coupled with a drop in Covid cases over the past few weeks has led Credit Suisse upgrade its stance on India to ‘overweight’ is its Asia pacific (APAC) model portfolio. India, it believes, looks much better positioned cyclically and relative to the pandemic. “India suffered a severe outbreak but has seen a dramatic drop in infections, likely due at least in part to achievement of herd immunity in some locations. READ MORE

1:37 PM

BUZZING STOCK:: PowerGrid surges 7% in an otherwise volatile market

1:18 PM

Heatmap: S&P BSE Sensex gainers and losers at this hour

1:11 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(%)
Mahindra CIE	234.50	195.60	212.95	-9.19
V-Mart Retail	2965.25	2755.55	2767.55	-6.67
Varun Beverages	964.00	896.00	901.90	-6.44
SIS	465.00	431.80	435.55	-6.33

12:57 PM

Varun Beverages narrows loss to Rs 7 cr in December quarter; shares skid 4%

Shares of Varun Beverages skid 4.6 per cent in the intra-day session and hit a low of Rs 899.6 apiece on the BSE on Tuesday amid profit-booking by investors on the company's improved performance in the December quarter. The company narrowed its loss in Q4CY21 to Rs 7.2 crore compared with a loss of Rs 54 crore in the previous year period. It's revenue increased 9 per cent on year to Rs 1,351.3 crore as against Rs 1,239.5 crore YoY. It's total sales volumes (organic) went up by 5.6 per cent YoY at 87.1 million in Q42020. READ MORE

12:49 PM

MARKET UPDATE:: Sensex slips into the red

12:42 PM

NEWS ALERT | Jubilant Food incorporates arm in the Netherlands, Jubilant Food Netherlands B.V.