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Indian stocks registered their worst fall in two weeks after clocking all-time highs during the opening trade.
The S&P BSE Sensex fell nearly 1 percent, the most since Jan. 6, to close at 41,528.91 and the NSE Nifty 50 fell 0.98 percent to end at 12,230.75. The broader markets represented by the NSE Nifty 500 Index fell 0.89 percent.
Earlier today, the 30-stock index had risen as much as 0.78 percent to hit a record high at 42,273.87 and the 50-share gauge had risen as much as 0.63 percent to hit an all-time high at 12,430.50.
The market breadth was tilted in favour of sellers. About 1,163 stocks declined and 634 shares advanced on National Stock Exchange.
Nine out of 11 sectoral gauges compiled by NSE ended lower, led by the NSE Nifty Media Index’s 1.9 percent fall. On the flipside, the NSE Nifty Realty Index was the top sectoral gainer, up 0.39 percent.
Shares of Hindustan Zinc fluctuated between gains and losses to trade 0.25 percent lower at 216.50 after the company announced quarterly results.
Key Earnings Highlights (Q3, YoY)
NMDC
Bank of Maharashtra
Deccan Gold Mines
Godawari Power & Ispat
NHPC
Cochin Shipyard
Prestige Estates Projects
European stocks edged lower and U.S. equity futures drifted as investors awaited this week’s fresh batch of corporate earnings
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Shares of Federal Bank fluctuated between gains and losses to trade 1 percent lower at Rs 90.65 after announcing December quarter results.
Key Earnings Highlights (Q3, YoY)
Shares of Bank of Maharashtra rose as much as 12.1 percent, the most since Dec. 26, to Rs 15.25 after the lender announced December quarter results.
Key Earnings Highlights (Q3, YoY)
Shares of the private lender declined 4.1 percent, biggest intraday slide in seven months, to Rs 1,629.35 apiece.
The bank’s profit after tax rose 23.6 percent to Rs 1,595.9 crore compared to the same period last year. Analysts had pegged the estimate at Rs 1,670 crore.
Net interest income, too, rose 18 percent to Rs 3,429.53 crore during the three-month period. Gross NPA rose 2.46 percent versus 2.32 percent sequentially.
Indian stocks erased all the opening gains to trade at day’s low.
The S&P BSE Sensex fell as much as 0.94 percent to 41,595.05 and the NSE Nifty 50 fell as much as 0.86 percent to 12,246.
The 30-stock index had risen as much as 0.78 percent to hit a record high at 42,273.87 and the 50-share gauge had risen as much as 0.63 percent to hit an all-time high at 12,430.50.
Shares of Power Finance extended declines for the third consecutive trading session. The stock fell as much as 8 percent, the most since Sept. 17, 2019, to Rs 112.20.
The stock is set to be excluded from the NSE Nifty CPSE Index with effect from Jan. 24, according to a statement on National Stock Exchange.
Of the shares traded, 52 percent were at the ask price and 40 percent were at the bid, Bloomberg data showed.
Shares of Prestige Estate Projects resumed gains after a one-day blip. The stock rose as much as 13.6 percent, the most since Nov. 27, 2019, to hit an all-time high at Rs 426.
The company’s subsidiary—Prestige Falcon Realty Ventures Pvt. Ltd.—invested in Lokhandwala DB Realty LLP, according to its statement on the exchanges. “The investment was through the capital account contribution and admitted as partner of the LLP with 50 percent economic and voting rights,” the statement added.
The scrip advanced in three out of four trading sessions. Trading volume was almost right times its 20-day average, Bloomberg data showed. The Relative Strength Index was at 77, indicating that the stock may be overbought.
Shares of IRB Infrastructure Developer extended gains for the third consecutive trading session.
The stock rose as much as 18.9 percent, the most since Oct. 23, 2019, to Rs 119.40.
Trading volume was almost eight times its 20-day average, Bloomberg data showed. The Relative Strength Index was at 86, indicating that the stock may be overbought.
The scrip advanced 29 percent in the past five days and rallied 67 percent in the past 30 days. IRB Infra traded at 5.6 times its estimated earnings per share for the coming year, according to Bloomberg data.
Indian stocks erased all the opening gains to trade at day’s low.
The S&P BSE Sensex fell as much as 0.56 percent to 41,708.94 and the NSE Nifty 50 fell as much as 0.61 percent to 12,277.20.
The 30-stock index had risen as much as 0.78 percent to hit a record high at 42,273.87 and the 50-share gauge had risen as much as 0.63 percent to hit an all-time high at 12,430.50.
Nifty’s 12,400 call option contract was among the most active Nifty option contracts on National Stock Exchange.
Premium on the contract, which is set to expire on Jan. 23, fell 48 percent to Rs 22.95. About 15.23 lakh shares were added to the open interest which stood at over 34.6 lakh shares.
Indian stocks fluctuated between gains and losses after opening at record highs.
The S&P BSE Sensex fell 0.24 percent to 41,847 and the NSE Nifty 50 fell 0.3 percent to 12,315. The broader markets represented by the NSE Nifty 500 Index fell 0.25 percent.
The 30-stock index had risen as much as 0.78 percent to hit a record high at 42,273.87 and the 50-share gauge had risen as much as 0.63 percent to hit an all-time high at 12,430.50.
ICICI Lombard General Insurance (Q3, YoY)
L&T Technology Services (Q3, YoY)
L&T Finance Holdings (Q3, YoY)
Blue Dart Express (Q3, YoY)
Jindal Steel and Power (Q3, YoY)
Chennai Petroleum Corporation (Q3, YoY)
Goa Carbon (Q3, YoY)
GNA Axles (Q3, YoY)
Shares of Adani Green Energy extended gains for the second consecutive trading session and hit an upper circuit of 5 percent at Rs 198.05. Prior to Jan. 17, 2020, The stock had declined for five consecutive trading sessions.
The stock advanced 387 percent in the past 12 months compared to a 15 percent gain in the Sensex, according to Bloomberg data.
Shares of Mahindra & Mahindra rose as much as 0.8 percent to Rs 574.
The company’s arm has signed an agreement to acquire a 100 percent stake in Fifth Gear Ventures for Rs 30.45 crore. The company is in the business of operating an e-commerce platform.
Of the shares traded, 46 percent were at the ask price and 40 percent were at the bid, according to Bloomberg data.
Indian stocks opened at record highs.
The S&P BSE Sensex rose as much as 0.78 percent to 42,273.87 and the NSE Nifty 50 rose as much as 0.63 percent to 12,430.50. The broader markets represented by the NSE Nifty 500 Index rose as much as 0.56 percent.
The market breadth was tilted in favour of buyers. About 999 stocks advanced and 531 shares declined on National Stock Exchange.
All the 11 sectoral gauges compiled by NSE traded higher, led by the NSE Nifty Realty Index’s 0.5 percent gain.
The Indian rupee fluctuated between gains and losses to trade little changed at 71.07 against the U.S. dollar.
Indian stocks are set to open higher
The S&P BSE Sensex rose 0.74 percent to 42,240 during the pre-market trade and the NSE Nifty 50 rose 1.24 percent to 12,511.
ICICI Lombard General Insurance (Q3, YoY)
L&T Technology Services (Q3, YoY)
L&T Finance Holdings (Q3, YoY)
Blue Dart Express (Q3, YoY)
Jindal Steel and Power (Q3, YoY)
Chennai Petroleum Corporation (Q3, YoY)
Goa Carbon (Q3, YoY)
GNA Axles (Q3, YoY)
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