MARKET WRAP: Sensex down 208 pts, Nifty holds 12,100; metals, autos drag
All that happened in the markets today
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Weakness in the Indian equities continued for the third straight day on Wednesday amid volatility in the global markets. Additionally, mixed December quarter results, too, kept investment sentiment at bay.
The S&P BSE Sensex ended a volatile trading session at 41,115.38 level, down 208.43 points or 0.50 per cent on the back of cuts in bluechip companies like HDFC twins, ICICI Bank, Maruti Suzuk, and Kotak Mahindra Bank. At close, ONGC, NTPC, and Maruti Suzuki, down between 2 and 5 per cent, were the top drags on the Sensex, while Nestle India, TCS, and Infosys were the top gainers.
On the NSE, the Nifty50 settled just above the 12,100-mark at 12,106.90 level, down 62.95 points or 0.52 per cent. Sectorally, Nifty IT index settled in the green for the second straight say, up nearly a per cent on the NSE. On the downside, Nifty Metal and Private Bank indices closed 1.6 and 1 per cent lower, respectively.
The broader markets settled with marginal cuts on Wednesday, but outperformed the frontline indices for the second straight day. The S&P BSE mid-cap index erased 0.35 per cent to close at 15,529.91, while the S&P BSE small-cap index ended at 14,631.69 level, down 0.14 per cent.
GLOBAL MARKETS
Asian stock markets recovered ground on Wednesday as China’s response to a virus outbreak tempered some fears of a global pandemic, although Shanghai shares initially slipped amid worries about a hit to domestic demand and tourism.
The MSCI index of Asia-Pacific shares outside Japan rose 0.71 per cent, recouping almost half Tuesday’s drop. Japan’s Nikkei, South Korea’s Kospi index and Hong Kong’s Hang Seng all rose by more than half a percentage point. Australia’s S&P/ASX 200 shrugged off worries to hit a fresh record high. E-mini S&P 500 futures rose 0.5 per cent and EUROSTOXX 50 futures advanced 0.4 per cent.
In Europe, the pan-European STOXX 600 was up 0.2 per cent.
(With inputs from Reuters)
3:43 PM
Sectoral trends at NSE at close
3:42 PM
Sensex heatmap at close
3:41 PM
Closing Bell
>> The S&P BSE Sensex ended a volatile trading session at 41,115.38 level, down 208.43 points or 0.50 per cent on the back of cuts in bluechip companies like HDFC twins, ICICI Bank, Maruti Suzuk, and Kotak Mahindra Bank.
>> On the NSE, the Nifty50 settled just above the 12,100-mark at 12,106.90 level, down 62.95 points or 0.52 per cent.
>> On the NSE, the Nifty50 settled just above the 12,100-mark at 12,106.90 level, down 62.95 points or 0.52 per cent.
3:26 PM
NEWS ALERT | JLR to cut jobs at UK Halewood plant: Reuters
>> Plant comprises 10% of work
3:21 PM
Asian Paints Q3 net profit grows 20% YoY to Rs 764 crore; revenue rises 3%
Profit before tax (PBT) of the company increased by 8.4 per cent to Rs 1,057.28 crore from 975.01 crore in the year-ago period.
Basic and diluted earnings per share (EPS) came in at Rs 7.97 against Rs 6.63 in the year-ago quarter. READ MORE
3:12 PM
NEWS ALERT | Cabinet approves closure of Hindustan Fluorocarbons
3:07 PM
Earnings Alert | SBI Life Q3 results
>> Net profit at Rs 390 crore, up 47.5% YoY
>> Gross Premium income at Rs 11,760, up 28.3% YoY
>> Gross Premium income at Rs 11,760, up 28.3% YoY
2:52 PM
Nifty sectoral indices at this hour
2:47 PM
Asian Paints Q3 net profit grows 20% YoY to Rs 764.43 crore
Asian Paints on Wednesday reported a 20 per cent year-on-year (YoY) rise in its consolidated net profit of Rs 764.43 crore for the quarter ended December 31, 2019. Revenue from operations stood at Rs 5,420.28 crore, up around 3 per cent YoY. Total income grew 3.3 per cent YoY to Rs 5,490 crore. READ MORE
2:41 PM
RESULT UPDATE:: Alembic Pharma Q3 consolidated net profit up 37.9% at Rs 234.2 cr vs 169.8 cr (YoY)
-- Cons revneue up 18.9% at Rs 1209 cr vs 1018.2 cr
2:36 PM
Axis Bank Q3 preview: Commentary on employee churn, NPAs key monitorables
A stable quarterly performance could be in the offing for private lender Axis Bank, which, according to analysts, could report up to 61 per cent year-on-year (YoY) jump in the net profit at Rs 2,705.4 crore for the December quarter of the current financial year (Q3FY20). Besides, steady credit growth and moderation in slippages could also be expected. READ MORE
2:32 PM
RESULT UPDATE:: Asian Paints Q3 consolidated net profit at Rs 780 crore
-- Cons revenue at Rs 5420 cr
-- Decorative biz segment in India registers low double-digit volume growth
-- EBITDA margin at 21.9%
-- EBITDA margin at 21.9%
2:31 PM
Market check
2:28 PM
L&T Q3 preview: Analysts see a cut in order inflow guidance for FY20
A significant slowdown in government orders, coupled with muted private capex, is likely to have hit order inflows for most engineering and capital goods companies, including industry heavyweight Larsen & Toubro (L&T), during the third quarter of the current financial year (Q3FY20). While a strong execution momentum is expected to continue for L&T in the heavy engineering, hydrocarbon and domestic infrastructure segment, a weak backlog in the international infrastructure segment could drag overall infra segment growth, say analysts. READ MORE
2:20 PM
Larsen & Toubro trades lower ahead of Q3 results
Topics : MARKET WRAP Markets
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First Published: Jan 22 2020 | 7:21 AM IST
