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Sensex ends at day's low, down 746 pts ; Bajaj Auto jumps 11%; RIL down 2%

Shares of Reliance Industries ended 2.4 per cent lower on Friday ahead of the announcement of its December quarter results. The shares have surged around 6 per cent during the week

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MARKET WRAP | Markets | NSE

SI Reporter  | New Delhi 

EVENT HIGHLIGHTS

Sensex ends at day's low, down 746 pts ; Bajaj Auto jumps 11%; RIL down 2%
Market updates: Investors took some profit off the table on Friday after scaled historic levels a day before, when the S&P surpassed the 50,000-mark for the first time. That said, investors rewarded stocks of the firms that delivered strong Q3FY21 results.

In the intra-day trade, the benchmark S&P plunged 790 points and hit a low of 48,835 levels. The index settled around day's low level of 48,878 levels, down 746 points or 1.5 per cent. Financial bore the maximum brunt with Axis Bank declining 4.4 per cent on the Sensex, followed by SBI (3.5 per cent), ICICI Bank (3.7 per cent), and IndusInd Bank (3.5 per cent).

On the flipside, Bajaj Auto, HUL, TCS, Ultratech Cement, and Bajaj Finserv were the only gainers on the

On the NSE, the settled at 14,372 levels, down 218 points or 1.5 per cent.

The broader markets, however, fared slightly better. The S&P MidCap index ended 1.1 per cent lower at 18,777.46 levels while the S&P BSE SmallCap index closed at 18,442 levels, down 0.93 per cent. 

Sectorally, most of the key indices settled lower. The Nifty Metal index underperformed the benchmark and closed 4 per cent lower. Among individual stocks, SAIL fell 14 per cent, JSPL slipped 8 per cent, and Hindustan Copper declined over 4 per cenrt. READ MORE

That apart, Nifty Bank index tanked over 1,000 points, or 3.25 per cent, to close at 31,176 levels. 

BUZZING STOCKS 

Shares of SBI Cards settled Friday's session 5 per cent higher after the SBI-arm reported impovement in asset quality in the December quarter. READ MORE

That apart, investors bought shares of Bajaj Auto, that hit a record high of Rs 4,130 and ended 11 per cent higher on the Sensex, after the company reported an expansion in operating Ebitda margin to 19.8 per cent from 18.4 per cent in the year-ago quarter. READ MORE

On the downside, shares of plunged 13 per cent in the intra-day trade and ended 11 per cent lower on lower-than-expected Q3 results, with consolidated net profit down 17 per cent year on year (YoY) at Rs 169 crore. READ MORE

Shares of Reliance Industries ended 2.4 per cent lower on Friday ahead of the announcement of its December quarter results. The shares have surged around 6 per cent during the week.

GLOBAL CUES

Asian shares slipped off record highs on Friday as investors took profits after a recent rally that was driven by hopes of US economic stimulus by newly inaugurated President Joe Biden.

MSCI's broadest index of Asia Pacific stocks outside of Japan extended losses in afternoon trading to be last off 0.6 per cent at 720.17 points following three straight sessions of gains. Australia's benchmark index eased 0.3 per cent while Japan's Nikkei fell 0.4 per cent.

In Europe, stocks fell on Friday, hit by tighter travel restrictions in the euro zone and weak UK retail sales numbers. The pan-European STOXX 600 index fell 0.4 per cent.

(With inputs from Reuters)

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