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As on Jan 20, 2020 12:00 AM Your results on : Mid Session    
Sensex, Nifty extend fall; breadth turns weak
20-Jan-2020 (13:24)

Key benchmark indices extended decline and hit fresh intraday low in afternoon trade. The Nifty was trading a tad above 12,250 mark. Investors locked profits after crude oil prices firmed up overseas. At 13:24 IST, the S&P BSE Sensex, was down 335.63 points or 0.80% at 41,609.74. The Nifty 50 index was down 100.75 points or 0.82% at 12,251.60.

The S&P BSE Mid-Cap index was down 0.39% while the S&P BSE Small-Cap index lost 0.25%. The fall in both these indices was lesser than the fall in the main stock indexes.

The market breadth was weak. On the BSE, 901 shares rose and 1468 shares fell. A total of 166 shares were unchanged. In Nifty 50 index, 15 stocks advanced while 35 stocks declined.

Q3 Result:

Kotak Mahindra Bank was down 2.11%. The bank will announce Q3 result today.

Reliance Industries fell 2.35% to Rs 1543.45. RIL, on consolidated basis, reported 13.55% increase in net profit to Rs 11,640 crore on 2.52% decrease in net sales to Rs 152,939 crore in Q3 December 2019 over Q3 December 2018. The revenue decreased primarily due to 10.6% decline in order-to-cash (O2C) business revenues, with lower product price realization and 6.6% fall in Brent crude price. This was partially offset by continuing growth momentum in consumer businesses. Digital services and retail business recorded an increase of 36.2% and 27.4% respectively, in revenue during the quarter. RIL's gross refining margin (GRM), or what it makes from turning every barrel of crude to fuel, came in at $9.2 per barrel from $8.8 per barrel.

According to reports, RIL's proposed deal with Saudi Aramco will miss the planned March 31 timeline. RIL proposed to sell 20% stake its oil and chemicals business for an estimated $15 billion to Saudi Aramco.

HDFC Bank fell 1.72% to Rs 1255.90 after the bank reported sharp spike in the provisions in Q3 December 2019. HDFC Bank reported a 32.77% rise in net profit to Rs 7416.48 crore in Q3 December 2019 from Rs 5585.9 crore in Q3 December 2018. Profit before tax (PBT) for Q3 December 2019 was at Rs 9,901.90 crore. Adjusting for one-off credit items, the core PBT at Rs 10,401.90 crore, grew by approximately 21%.

Provisions and contingencies (excluding tax provisions) grew 37.62% on YoY basis to Rs 3043.56 crore in Q3 December 2019.

Stocks in Spotlight:

Power Grid Corporation of India (PGCIL) jumped 3.29% to Rs 203.90 after its southern subsidiary commissioned a power transmission project in Tamil Nadu.

Mahindra & Mahindra (M&M) fell 0.35% to Rs 567. The automaker's arm has signed an agreement to acquire a 100% stake in Fifth Gear Ventures for Rs 30.45 crore. The company is in the business of operating an e-commerce platform.

Foreign Markets:

European shares opened higher while most shares in Asia were trading higher on Monday. The moves came as the People's Bank of China kept the one year and five year loan prime rates unchanged for January.

Oil prices were higher, with international benchmark Brent crude futures up 1.14% to $65.47 per barrel. Oil prices spiked on Monday after two large crude production bases in Libya shut down due to a military blockade. This could curtail crude flows from Libya to a trickle.

In US, stocks closed higher on Friday, ending the week at new record high, helped by data suggesting the economy and corporate profits are in good health.

The rally this week has also been supported by at least a partial resolution of the US-China trade dispute and the passage of the US, Mexico, Canada trade deal by Congress.

Sentiment was boosted by data on US December housing starts that showed home constructing rising 16.9%, to annual rate of 1.608 million units, to the fastest pace since 2006. In other US economic data, the Federal Reserve reported that industrial production fell 0.3% in December.

Shares turn range bound; VIX spurts 7%
20-Jan-2020 (12:32)
Market trades in range
20-Jan-2020 (11:32)
Indices trade at day's low; breadth turns negative
20-Jan-2020 (10:21)
Sensex, Nifty advance in early trade
20-Jan-2020 (09:22)
Benchmarks trade almost flat; private banks decline
17-Jan-2020 (14:28)
Barometers trade with modest gains; Europe opens higher
17-Jan-2020 (13:28)
Indices trade near flat line
17-Jan-2020 (12:28)
Benchmarks sharply pare gains; breadth remains positive
17-Jan-2020 (11:27)
Indices at day's high; Vodafone Idea plummets 32%
17-Jan-2020 (10:26)
Market nudges lower in early trade
17-Jan-2020 (09:25)
Barometers firm up once again; metals correct
16-Jan-2020 (14:24)
Benchmarks bounce back
16-Jan-2020 (13:24)
Indices trade near day's low; Wockhardt jumps 6%
16-Jan-2020 (12:25)
Sensex, Nifty turn negative
16-Jan-2020 (11:21)
Strong market breadth
16-Jan-2020 (10:29)
Market trades higher on selective buying
16-Jan-2020 (09:20)
Benchmarks come off day's low
15-Jan-2020 (14:26)
Shares turn range bound; European stocks mostly higher
15-Jan-2020 (13:26)
Baromerters hit day's low; India VIX up 2.5%
15-Jan-2020 (12:22)
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