Stock Market Today: Sensex, Nifty End Volatile Budget-Day Session Lower As L&T, Bharti Airtel Lose
Your one-stop destination for all live updates on India stock markets here on Feb 1.
KEY HIGHLIGHTS
Sensex, Nifty End Volatile Budget-Day Session Lower As L&T, Bharti Airtel Lose: Market Wrap
Dr Lal PathLabs Q3 Earnings Key Highlights (Consolidated YoY)
Goodluck India Q3 Earnings Key Highlights (Consolidated YoY)
SML Isuzu Shares Jump As Jan Total Vehicle Sales Up 71%
Deepak Fertilisers Q3 Earnings Key Highlights (Consolidated YoY)
Yield On The 10-Year Bond Ends Lower
The yield on the 10-year bond closed 8 bps lower at 7.06 % on Thursday.
Source: Bloomberg
Rupee Ends Stronger Against U.S Dollar
The local currency strengthened 6 paise to close at Rs 82.98 against the U.S dollar.
It closed at 83.04 on Wednesday.
Source: Bloomberg
Sensex, Nifty End Volatile Budget-Day Session Lower As L&T, Bharti Airtel Lose: Market Wrap
Indian markets ended the volatile trade session lower on Thursday as Larsen & Toubro Ltd, Bharti Airtel Ltd, and Bajaj Finance Ltd declined.
The NSE Nifty 50 settled 28.05 points or 0.13% lower at 21,689.65, and the S&P BSE Sensex ended 106.81 points or 0.15% lower at 71,645.30.
Intraday, the NSE Nifty 50 fell 0.31% to a low of 21,658.75, and the BSE Sensex declined 0.25% to a low of 71,574.89.
"Surprisingly, on the day of Interim Budget 2024, the benchmark indices saw range-bound activity, with Nifty closing 36 points lower while Sensex was down 107 points," Shrikant S. Chouhan, head of equity research at Kotak Securities said.
"The interim budget was the much anticipated non-event which was seen through tight market movements as the Index oscillated in a narrow range to settle the day lower at 21,697.45 with a loss of 28.25 points," Aditya Gaggar, director from Progressive Shares said.
Larsen & Toubro Ltd, Bharti Airtel Ltd, Bajaj Finance Ltd, UltraTech Cements Ltd, and Titan Company Ltd weighed on the benchmark indices.
Maruti Suzuki India Ltd, Axis Bank Ltd, Tata Consultancy Services Ltd, HDFC Bank Ltd, and State Bank of India limited losses to the benchmark indices.
On NSE, six sectors ended in green, while six ended in red out of total 12 sectors. The Nifty PSU Bank surged 3.11% to become the top performer among its peer sectoral indices.
"Among sectors, the PSU Bank index was the biggest gainer, rising over 3 per cent, while profit-booking was seen in digital and metal stocks, resulting in a decline of over 1% in both indices," Chouhan said.
The Nifty Media shed 1.09% to become the worst performer among sectoral indices.
Broader markets underperformed benchmark indices. The S&P BSE Midcap Index declined 0.40%, and the S&P BSE Smallcap index was trading 0.22% lower. On BSE, 12 indices declined out of 20, and eight gained. The S&P BSE Telecommunication fell the most among sectoral indices.
"Divergence was seen in the Broader markets where Midcaps corrected and moved in tandem with the Benchmark Index while Smallcaps ended in green," Gaggar said.
Market breadth was skewed in favour of sellers. Around 2,020 stocks fell, 1,818 stocks rose, and 105 stocks remained unchanged on BSE.
HUDCO Hits 20% Upper Circuit
Titan Q3 Results Key Highlights (Consolidated YoY)
Revenue rose 22% to Rs 14,164 crore from Rs 11,609 crore
Ebitda rose 16.18% to Rs 1,565 crore from Rs 1,347 crore
Margin fell 55 bps to 11.04% from 11.6%
Net profit rose 15.33% to Rs 1,053 crore from Rs 913 crore
Jewellery sales at Rs 12,742 crore from Rs 10,446 crore
Eyecare sales at Rs 168 crore from Rs 174 crore
Watches & wearable sales at Rs 986 crore from Rs 811 crore
