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| As on Jan 15, 2021 12:00 AM |
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The market witnessed intense selling pressure in mid-afternoon trade. IT, PSU banks and realty shares declined the most. Rising coronavirus cases across US, Europe and China weighed on investors' sentiment. At 14:20 IST, the barometer index, the S&P BSE Sensex, dropped 685.77 points or 1.38% to 48,898.39. The Nifty 50 index lost 224.50 points or 1.54% at 14,371.10. In the broader market, the S&P BSE Mid-Cap index fell 1.90%. The S&P BSE Small-Cap index skid 1.44%. Sellers outpaced buyers. On the BSE, 876 shares rose and 2081 shares fell. A total of 136 shares were unchanged. COVID-19 Update: Total COVID-19 confirmed cases worldwide stood at 9,31,05,607 with 19,94,440 deaths. India reported 2,13,027 active cases of COVID-19 infection and 1,51,918 deaths while 1,01,62,738 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India. Economy: The government said that over 545 lakh tonnes of Paddy have been procured during the ongoing Kharif Marketing Season. This is an increase of 26.48% against the last year corresponding purchase of around 431 lakh tonnes. Agriculture Ministry said, government continues to procure Kharif crops at its Minimum Support Price from farmers as per its existing MSP Schemes. The Ministry said, more than 73 lakh paddy farmers have been benefited from current Kharif Marketing Season Procurement Operations with MSP value of over one lakh three thousand crore rupees. Numbers To Track: In the foreign exchange market, the partially convertible rupee appreciated to 73.1325 compared with its previous closing of 73.0450. The yield on 10-year benchmark federal paper rose to 5.944% as compared to its previous close of 5.924%. MCX Gold futures for 5 February 2021 settlement slipped 0.03% to Rs 49,025. The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, added 0.21% to 90.43. In the commodities market, Brent crude for March 2021 settlement lost 68 cents to $55.74 a barrel. The contract gained 0.64% or 36 cents to settle at $56.42 in the previous trading session. Buzzing Index: The Nifty IT index fell 2.02% to 26,420.90. The index has fallen 2.16% in two sessions. Tech Mahindra (down 4.16%), Coforge (down 4.1%), MindTree (down 2.91%), Info Edge India (down 2.9%), Wipro (down 2.85%), Mphasis (down 2.54%), Larsen & Toubro Infotech (down 2.49%), Infosys (down 1.77%) and TCS (down 0.38%) tumbled. HCL Technologies slipped 2.86% at Rs 998.40. The IT firm's consolidated net profit rose 31.1% to Rs 3,982 crore on 6.4% rise in revenue from operations to Rs 19,302 crore in Q3 December 2020 over Q3 December 2019. Sequentially, consolidated net profit rose 26.7% and revenue increased 3.80% in Q3 FY21 over Q2 FY21. EBITDA grew 9.9% to Rs 5,443 crore in Q3 FY21 over Q2 FY21. EBITDA margin improved to 28.2% in Q3 FY21 from 26.6% in Q2 FY21. The company's revenue in constant currency grew 3.5% QoQ and rose 1.1% year-on-year (YoY). The company expects QoQ revenue to grow between 2% to 3% in constant currency for Q4 FY21, including DWS contribution. EBIT is expected to be between 21% and 21.5% for FY2021.
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Benchmark indices were trading with modest losses in afternoon trade. Rising coronavirus cases across US, Europe and China weighed on investors' sentiment. At 13:20 IST, the barometer index, the S&P BSE Sensex, dropped 257.52 points or 0.52% at 49,326.64. The Nifty 50 index lost 80.45 points or 0.55% at 14,515.15. Broader markets traded with minor losses. The S&P BSE Mid-Cap index fell 0.62%. The S&P BSE Small-Cap index skid 0.40%. Sellers outpaced buyers. On the BSE, 1,096 shares rose and 1,749 shares fell. A total of 141 shares were unchanged. In Nifty 50 index, 17 stocks advanced while 33 stocks declined. Foreign portfolio investors (FPIs) bought shares worth Rs 1,076.62 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 188.10 crore in the Indian equity market on 14 January 2021, provisional data showed. COVID-19 Update: Total COVID-19 confirmed cases worldwide stood at 9,31,05,607 with 19,94,440 deaths. India reported 2,13,027 active cases of COVID-19 infection and 1,51,918 deaths while 1,01,62,738 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India. Economy: The government said that over 545 lakh tonnes of Paddy have been procured during the ongoing Kharif Marketing Season. This is an increase of 26.48% against the last year corresponding purchase of around 431 lakh tonnes. Agriculture Ministry said, government continues to procure Kharif crops at its Minimum Support Price from farmers as per its existing MSP Schemes. The Ministry said, more than 73 lakh paddy farmers have been benefited from current Kharif Marketing Season Procurement Operations with MSP value of over one lakh three thousand crore rupees. Gainers & Losers: Tata Motors (up 3.63%), Bharti Airtel (up 3.58%), UPL (up 2.31%), ITC (up 1.28%) and Sun Pharmaceutical Industries (up 1.27%) were major gainers in Nifty 50 index. Tech Mahindra (down 3.21%), ONGC (down 2.14%), Hindalco Industries (down 1.91%), Wipro (down 1.71%) and BPCL (down 1.71%) were major losers in Nifty 50 index. Earning Impact: HCL Technologies fell 1.82%. The IT firm's consolidated net profit rose 31.1% to Rs 3,982 crore on 6.4% rise in revenue from operations to Rs 19,302 crore in Q3 December 2020 over Q3 December 2019. Sequentially, consolidated net profit rose 26.7% and revenue increased 3.80% in Q3 FY21 over Q2 FY21. EBITDA grew 9.9% to Rs 5,443 crore in Q3 FY21 over Q2 FY21. EBITDA margin improved to 28.2% in Q3 FY21 from 26.6% in Q2 FY21. The company's revenue in constant currency grew 3.5% Q-o-Q and rose 1.1% year-on-year (YoY). The company expects Q-o-Q revenue to grow between 2% to 3% in constant currency for Q4 FY21, including DWS contribution. EBIT is expected to be between 21% and 21.5% for FY2021. Stocks in Spotlight: IRCON International gained 0.99%. The company announced the completion of 30 km Korichhapar-Dharamjaigarh section in Chhattisgarh. IRCON International announced opening the 30 km section between Korichhapar to Dharamjaigarh within the targeted date i.e., 31.12.2020. A trial run was carried on 31 December 2020. The cost of this line is approximately Rs 325 crore and the work is executed by Ircon International under an SPV named Chhattisgarh East Railway. South Eastern Coalfields, IRCON and Chhattisgarh Government are shareholders for the Chhattisgarh East Railway. JK Tyre Industries advanced 2.42% after Navodya Enterprises purchased 15,46,500 shares, or 0.62% equity, of JK Tyre Industries on Thursday, 14 January 2021, at an average price of Rs 87.27 each, as per the bulk deal data on the NSE. PNC Infratech slipped 0.99%. The company's wholly-owned subsidiary, PNC Bithur Kanpur Highways, has achieved financial closure for one of highway projects on hybrid annuity mode. PNC Bithur Kanpur Highways has received communication from National Highways Authority of India (NHAI) on 14 January 2021 confirming the achievement of financial closure of project on 31 December 2020. The order comprises four laning of Aligarh-Kanpur section of NH-91 in Uttar Pradesh. The bid project cost is Rs 2,052 crore. The construction period is 910 days and the concession period (including construction period) is 17.5 years. Global Markets: European shares declined while Asian shares were mixed on Friday as a re-emergence of COVID-19 cases in China pulled back the positive sentiment generated by U.S. President-elect Joe Biden's $1.9 trillion stimulus plan. China reported the most daily cases of COVID-19 in more than 10 months on Friday, as local governments and factory owners began in offering incentives to the country's millions of migrant workers not to return to their home provinces for the Lunar New Year holidays in February. Shares of Chinese smartphone maker Xiaomi plunged in Friday after U.S. President Donald Trump's administration placed the firm on a blacklist of alleged Chinese military companies. US President-elect Joe Biden unveiled a $1.9 trillion coronavirus plan Thursday to end a crisis of deep human suffering by speeding up vaccines and pumping out financial help to those struggling with the pandemic's prolonged economic fallout. Biden proposed $1,400 checks for most Americans, which on top of $600 provided in the most recent COVID-19 bill would bring the total to the $2,000 that Biden has called for. It would also extend a temporary boost in unemployment benefits and a moratorium on evictions and foreclosures through September. In US, stocks fell slightly on Thursday, with tech shares declining the most. Donald Trump became the first president in U.S. history to be impeached twice when the House voted 232-197 on Wednesday to charge him with inciting riots at the Capitol. Meanwhile, U.S. Federal Reserve Chair Jerome Powell said an interest rate hike is coming no time soon and pushed back against suggestions that the central bank might start tapering its bond purchases any time soon.
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The equity barometers pared losses in early afternoon trade. Banks shares declined for second consecutive session. Rising coronavirus cases across US and Europe weighed on investors' sentiment. At 12:20 IST, the barometer index, the S&P BSE Sensex, was down 342.89 points or 0.69% to 49,241.27. The Nifty 50 index lost 96.90 points or 0.66% to 14,498.70. In the broader market, the S&P BSE Mid-Cap index slipped 0.67% while the S&P BSE Small-Cap index shed 0.58%. The market breadth was weak. On the BSE, 1016 shares rose and 1777 shares fell. A total of 136 shares were unchanged. Foreign portfolio investors (FPIs) bought shares worth Rs 1,076.62 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 188.10 crore in the Indian equity market on 14 January, provisional data showed. Derivatives: The NSE's India VIX, a gauge of market's expectation of volatility over the near term, rose 3.99% to 23.95. The Nifty 28 January 2021 futures were trading at 14,500.60, at a premium of 1.9 point compared with the spot at 14,498.70. The Nifty option chain for 28 January 2021 expiry showed maximum Call OI of 23.9 lakh contracts at the 15,000 strike price. Maximum Put OI of 31.4 lakh contracts was seen at 14,000 strike price. Buzzing Index: The Nifty Bank index slipped 0.84% to 32,247.95, extending decline for second day. The index has lost 1% in two sessions. ICICI Bank (down 1.54%), Kotak Mahindra Bank (down 1.38%), Punjab National Bank (down 1.35%), Bank Of Baroda (down 0.72%), Bandhan Bank (down 0.56%), SBI (down 0.44%), HDFC Bank (down 0.43%), IndusInd Bank (down 0.38%), Federal Bank (down 0.27%) and Axis Bank (down 0.24%) declined. Meanwhile, IDFC First Bank (up 3.89%) and RBL Bank (up 1.40%) advanced. Earnings Impact: Den Network rose 3.71% to Rs 69.80 after the cable distribution company posted 238.8% jump in consolidated net profit to Rs 65.57 crore on a 7.6% rise in net sales to Rs 342.18 crore in Q3 December 2020 over Q3 December 2019. Consolidated EBITDA grew by 12% year on year to Rs 65 crore in Q3 December 2020 from Rs 58 crore in Q3 December 2019. EBITDA margin slightly improved to 19% in Q3 December 2020 from 18% in Q3 December 2019. On the operational front, subscription revenue was at Rs 201 crore (down 3% YoY), Placement/Marketing income was at Rs 106 crore (up 22% YoY) and Activation revenue came in at Rs 28 crore (up 58% YoY ) in the third quarter. HFCL rose 1.05% to Rs 33.60 after consolidated net profit jumped 86.7% to Rs 85.11 crore on 49.7% increase in net sales to Rs 1,277.48 crore in Q3 December 2020 over Q3 December 2019.
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The equity benchmarks further extended losses and hit the day's low in mid-morning trade. The Nifty slipped below the 14,500 mark. All the sectoral indices on NSE were trading in the red. Rising coronavirus cases across US and Europe weighed on investors' sentiment. At 11:27 IST, the barometer index, the S&P BSE Sensex, was down 452.71 points or 0.91% to 49,131.45. The Nifty 50 index lost 141 points or 0.97% to 14,454.60. In the broader market, the S&P BSE Mid-Cap index and the S&P BSE Small-Cap index shed 0.74% each. The market breadth was weak. On the BSE, 905 shares rose and 1794 shares fell. A total of 128 shares were unchanged. Foreign portfolio investors (FPIs) bought shares worth Rs 1,076.62 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 188.10 crore in the Indian equity market on 14 January, provisional data showed. COVID-19 update: Total COVID-19 confirmed cases worldwide stood at 93,076,925 with 1,993,146 deaths. India reported 213,027 active cases of COVID-19 infection and 151,918 deaths, according to the data from the Ministry of Health and Family Welfare, Government of India. As per reports, China has placed over 22 million people on lockdowns after a new COVID wave has hit the country. Economy: The government said that over 545 lakh tonnes of Paddy have been procured during the ongoing Kharif Marketing Season. This is an increase of 26.48% against the last year corresponding purchase of around 431 lakh tonnes. Agriculture Ministry said, government continues to procure Kharif crops at its Minimum Support Price from farmers as per its existing MSP Schemes. The Ministry said, more than 73 lakh paddy farmers have been benefited from current Kharif Marketing Season Procurement Operations with MSP value of over one lakh three thousand crore rupees. Buzzing Index: The Nifty Pharma index slipped 1.18% to 13,076.30. The index had advanced 0.84% to end at 13,232.55 yesterday. Aurobindo Pharma (down 1.65%), Cipla (down 1.64%), Cadila Healthcare (down 1.54%), Biocon (down 1.37%), Lupin (down 1.29%), Torrent Pharma (down 1.28%), Dr. Reddy's Labs (down 1.28%), Divi's Labs (down 1.08%) and Sun Pharma (down 0.89%) declined. Strides Pharma Science shed 0.41% to Rs 917.55. The company said that its wholly owned subsidiary, Strides Pharma Global, Singapore, has received approval for Emtricitabine and Tenofovir Disoproxil Fumarate tablets, 200 mg/300 mg from the United States Food & Drug Administration (US FDA). The drug belongs to class of medications called nucleoside and nucleotide reverse transcriptase inhibitors. The combination of Emtricitabine and Tenofovir slows down the spread of HIV in the body and is used along with other medications to treat HIV in adults and children. According to IQVIA MAT November 2020 data, the US market for Emtricitabine and Tenofovir Disoproxil Fumarate tablets, 200 mg/300 mg is approximately $2.4 billion. Stocks in Spotlight: Bharti Airtel added 3.04% to Rs 597.85 after global index provider MSCI on Thursday said it will take a decision on increasing the weightage of Bharti Airtel at upcoming index review in February. Trident rose 2.16% to Rs 14.69 after the company said it secured a patent for 'Fabric and Method of Manufacturing Fabric' by European Patent office. It further said that the present invention comprises a method of producing a fabric by subjecting the fabric to a special treatment, thereby obtaining increased air space in the resultant fabric. Global Markets: Asian stocks were mixed on Friday as investors regionally reacted to the release of U.S. President-elect Joe Biden's $1.9 trillion coronavirus rescue package. US President-elect Joe Biden unveiled a $1.9 trillion coronavirus plan Thursday to end a crisis of deep human suffering by speeding up vaccines and pumping out financial help to those struggling with the pandemic's prolonged economic fallout. Biden proposed $1,400 checks for most Americans, which on top of $600 provided in the most recent COVID-19 bill would bring the total to the $2,000 that Biden has called for. It would also extend a temporary boost in unemployment benefits and a moratorium on evictions and foreclosures through September. Shares of Chinese smartphone maker Xiaomi plunged in Friday after U.S. President Donald Trump's administration placed the firm on a blacklist of alleged Chinese military companies. In US, stocks fell slightly on Thursday, with tech shares declining the most. Donald Trump became the first president in U.S. history to be impeached twice when the House voted 232-197 on Wednesday to charge him with inciting riots at the Capitol. Meanwhile, U.S. Federal Reserve Chair Jerome Powell said an interest rate hike is coming no time soon and pushed back against suggestions that the central bank might start tapering its bond purchases any time soon.
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The key indices reversed early gains and hit the day's low in morning trade. The Nifty managed to hold the 14,500 mark. At 10:28 IST, the barometer index, the S&P BSE Sensex, was down 187.64 points or 0.38% to 49,396.52. The Nifty 50 index lost 57 points or 0.39% at 14,538.60. In the broader market, the S&P BSE Mid-Cap index rose 0.02% while the S&P BSE Small-Cap index shed 0.11%. The market breadth was negative. On the BSE, 1065 shares rose and 1417 shares fell. A total of 144 shares were unchanged. US President-elect Joe Biden unveiled a $1.9 trillion coronavirus plan Thursday to end a crisis of deep human suffering by speeding up vaccines and pumping out financial help to those struggling with the pandemic's prolonged economic fallout. Biden proposed $1,400 checks for most Americans, which on top of $600 provided in the most recent COVID-19 bill would bring the total to the $2,000 that Biden has called for. It would also extend a temporary boost in unemployment benefits and a moratorium on evictions and foreclosures through September. Meanwhile, U.S. Federal Reserve Chair Jerome Powell said an interest rate hike is coming no time soon and pushed back against suggestions that the central bank might start tapering its bond purchases any time soon. The US Dow Jones 30 Futures futures were currently down 132 points. COVID-19 update: Total COVID-19 confirmed cases worldwide stood at 93,076,925 with 1,993,146 deaths. India reported 213,027 active cases of COVID-19 infection and 151,918 deaths, according to the data from the Ministry of Health and Family Welfare, Government of India. As per reports, China has placed over 22 million people on lockdowns after a new COVID wave has hit the country. Economy: The government said that over 545 lakh tonnes of Paddy have been procured during the ongoing Kharif Marketing Season. This is an increase of 26.48% against the last year corresponding purchase of around 431 lakh tonnes. Agriculture Ministry said, government continues to procure Kharif crops at its Minimum Support Price from farmers as per its existing MSP Schemes. The Ministry said, more than 73 lakh paddy farmers have been benefited from current Kharif Marketing Season Procurement Operations with MSP value of over one lakh three thousand crore rupees. Earnings Today: Hathway Cable & Datacom (up 1.46%),, Plastiblends India (up 0.71%), L&T Finance Holdings (down 0.61%), PVR (up 1.06%), Shoppers Stop (up 1.60%) and Yaarii Digital Integrated Services (down 1.38%) will announce Q3 earnings today. Banking sector major HDFC Bank (down 1.06%) will announce Q3 earnings on Saturday (16 January 2021). Apollo Pipes (up 0.21%) and IRB InvIT Fund (up 0.34%) will also announce their quarterly earnings tomorrow. Buzzing Index: The Nifty Metal index was up 0.21% to 3,494.80. The index had declined 1.02% yesterday. SAIL (up 6.77%), Jindal Steel & Power (up 1.45%), Tata Steel (up 0.93%) and Hindustan Zinc (up 0.92%) edged higher. Hindustan Copper (down 1.45%), MOIL (down 1.09%), Hindalco Industries (down 0.98%), APL Apollo Tubes (down 0.89%), NMDC (down 0.68%) and Mishra Dhatu Nigam (down 0.60%) edged lower. Earnings Impact: HCL Technologies slipped 1.66% at Rs 1010.65. The IT firm's consolidated net profit rose 31.1% to Rs 3,982 crore on 6.4% rise in revenue from operations to Rs 19,302 crore in Q3 December 2020 over Q3 December 2019. Sequentially, consolidated net profit rose 26.7% and revenue increased 3.80% in Q3 FY21 over Q2 FY21. EBITDA grew 9.9% to Rs 5,443 crore in Q3 FY21 over Q2 FY21. EBITDA margin improved to 28.2% in Q3 FY21 from 26.6% in Q2 FY21. The company's revenue in constant currency grew 3.5% QoQ and rose 1.1% year-on-year (YoY). The company expects QoQ revenue to grow between 2% to 3% in constant currency for Q4 FY21, including DWS contribution. EBIT is expected to be between 21% and 21.5% for FY2021. Tata Steel Long Products jumped 8.98% to Rs 780.90. The long steel maker reported a consolidated net profit of Rs 304.40 crore in Q3 FY21 compared with net loss of Rs 112.19 crore in Q3 FY20. Net sales during the quarter jumped 36.5% year-on-year (YoY) to Rs 1364.17 crore.
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Key benchmark indices are trading with small losses in early trade. At 9:25 IST, the barometer index, the S&P BSE Sensex, was down 48.35 points or 0.1% at 49,535.81. The Nifty 50 index was down 20.15 points or 0.14% at 14,575.45. The S&P BSE Mid-Cap index was up 0.31%. The S&P BSE Small-Cap index was up 0.26%. The market breadth, indicating the overall health of the market, is positive. On the BSE, 1030 shares rose and 862 shares fell. A total of 79 shares were unchanged. Budget session: The Union Budget 2021-22 would be presented on February 1. The Parliament session would be starting from January 29, and would be held in two phases. Subject to exigencies of government business, the session is likely to conclude on 8 April 2021. Stocks in news: Larsen & Toubro Infotech (LTI) rose 1.23%. LTI plans to expand its multi-year, global alliance with IBM to help businesses transform their operations through open hybrid cloud adoption. With the proposed center, LTI will help their clients migrate and modernize core business applications leveraging IBM's open hybrid cloud platform built on Red Hat OpenShift. Ircon International rose 1.26%. Ircon International achieved milestone by opening the 30 KM section between Korichhapar to Dharamjaigarh within the targeted date i.e., 31.12.2020. A Trial run was carried on 31 December 2020. The cost of this line is approximately 325 crores and the work is executed by Ircon International under an SPV named Chhattisgarh East Railway. Bharat Dynamics advanced 3.22%. Bharat Dynamics and Thales have signed a Teaming Agreement to work in partnership on the STARStreak Air Defence system with the support of both the Governments of India and the United Kingdom. HFCL rose 1.8%. The company's consolidated profit after tax jumped 86.2% to Rs 85.11 crore on 49.7% rise in revenue to Rs 1277.48 crore in Q3 December 2020 over Q3 December 2019. DEN Networks surged 4.01%. The company's consolidated profit after tax jumped 390% to Rs 60 crore on 8% rise in revenue to Rs 342 crore in Q3 December 2020 over Q3 December 2019. Global Markets: Overseas, Asian stocks were mixed on Friday as investors regionally reacted to the release of U.S. President-elect Joe Biden's $1.9 trillion coronavirus rescue package. U.S. President-elect Joe Biden on Thursday revealed details of a $1.9 trillion coronavirus rescue package. Biden's proposal, called the American Rescue Plan, includes some familiar stimulus measures in the hope of sustaining families and companies till vaccines are widely distributed. Some of the proposed measures include stimulus checks as well as unemployment support. Shares of Chinese smartphone maker Xiaomi plunged in Friday after U.S. President Donald Trump's administration placed the firm on a blacklist of alleged Chinese military companies. In US, stocks fell slightly on Thursday, with tech shares declining, as traders awaited the unveiling of a potentially big economic stimulus package. Sentiment got a boost earlier in the session as trial data published late Wednesday showed that Johnson & Johnson's one-dose coronavirus vaccine is safe and generates a promising immune response. Investors kept an eye on Federal Reserve Chair Jerome Powell, who struck a dovish tone in comments at a virtual symposium with Princeton University. Powell said the U.S. central bank is not raising interest rates anytime soon and rejected suggestions the Fed might start reducing its bond purchases in the near term. Meanwhile, Donald Trump became the first president in U.S. history to be impeached twice when the House voted 232-197 on Wednesday to charge him with inciting riots at the Capitol. Back home, the domestic equity benchmarks reversed early losses and ended with decent gains on Thursday. The barometer index, the S&P BSE Sensex, added 91.84 points or 0.19% to 49,584.16. The Nifty 50 index gained 30.75 points or 0.21% at 14,595.60. Foreign portfolio investors (FPIs) bought shares worth Rs 1,076.62 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 188.10 crore in the Indian equity market on 14 January, provisional data showed.
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The key indices surged to hit fresh intraday high in mid-afternoon trade. At 14:27 IST, the barometer index, the S&P BSE Sensex, was up 102.00 points or 0.21% to 49,594.32. The Nifty 50 index gained 40.65 points or 0.28% at 14,605.50. In the broader market, the S&P BSE Mid-Cap index added 0.25%. The S&P BSE Small-Cap index rose 0.12%. The market breadth was almost even. On the BSE, 1468 shares rose and 1483 shares fell. A total of 158 shares were unchanged. Investors looked forward to US President-elect Joe Biden's major COVID-19 relief package to be unveiled on Thursday. Economy: India's wholesale prices rose by 1.22% year-on-year in December 2020, slowing from a 1.55% gain in November 2020 and 2.76% in December 2019. Meanwhile, Fitch Ratings projected India's medium-term growth to slow down to 6.5% from FY23 onward, after the initial rebound to 11% in FY22, as the economy suffers lasting damage from the pandemic. The agency downgraded its projection of supply-side potential growth to 5.1% annually over the five-year period from 2020-25 compared to its pre-pandemic expectation of 7%. Numbers To Track: In the foreign exchange market, the partially convertible rupee appreciated to 73.01 compared with its previous closing of 73.15. The yield on 10-year benchmark federal paper fell to 5.927% as compared to its previous close of 5.947%. MCX Gold futures for 5 February 2021 settlement slipped 0.90% to Rs 48,862. The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, shed 0.08% to 90.28. In the commodities market, Brent crude for March 2021 settlement added 5 cents to $56.11 a barrel. The contract lost 0.92% or 52 cents to settle at $56.06 in the previous trading session. Buzzing Index: The Nifty Metal index slipped 1.06% to 3,485.30. In the past one month, the index has added 8.47% while the benchmark Nifty 50 index has advanced 7.60% during the same period. Mishra Dhatu Nigam (down 4.3%), Welspun Corp (down 2.36%), Jindal Steel & Power (down 2.1%), JSW Steel (down 1.91%), Hindustan Zinc (down 1.93%), Hindustan Copper (down 1.29%), MOIL (down 1.21%) and NMDC (down 0.79%) declined. Meanwhile, Coal India (up 0.79%) and APL Apollo Tubes (up 0.09%) bucked the trend. Steel Authority of India (SAIL) slumped 7.83% to Rs 68.85 after the offer for sale (OFS) opened for non-retail investors today, 14 January 2021. The floor price for the OFS has been set at Rs 64 per share, at a 14.2% discount to SAIL's closing price of Rs 74.70 on Wednesday, 13 January 2021. Through the OFS, the Indian government proposes to sell 20,65,26,264 shares (representing 5% stake), with an option to sell an additional 5% stake or 20,65,26,264 equity shares in case of oversubscription. With this, the total OFS size stands at 41,30,52,528 shares, which is calculated at Rs 2,664 crore. As on 14:15 IST, the OFS received subscription for 28,39,34,714 shares or 157.12% against the base non-retail offer size of 18,07,10,481 shares. Stocks in Spotlight: Garden Reach Shipbuilders & Engineers rose 2.78% to Rs 199.55. The company secured a contract from the Transport and Harbours Department, Ministry of Public Works, Government of Guyana, for designing, construction and supply of an ocean-going passenger and cargo vessel at the cost of $12.7 million. Adani Enterprises shed 0.62% to Rs 533.55. The company has received letter of award (LoA) from National Highways Authority of India (NHAI) for six laning of Azhiyur to Vengalam section of NH-17 (New NH-66) in Kerala on Hybrid Annuity Mode (HAM) under Bharatmala Pariyojna. The company's bid project cost is Rs 1838.10 crore and the first year operation and maintenance (O&M) quote is Rs 8.65 crore. The construction period is 2.5 years and the operation period is 15 years.
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Key barometers were trading in narrow band in afternoon trade. Investors looked forward to US President-elect Joe Biden's major COVID-19 relief package to be unveiled on Thursday. At 13:20 IST, the barometer index, the S&P BSE Sensex, rose 42.53 points or 0.09% at 49,534.85. The Nifty 50 index gained 19.50 points or 0.13% at 14,584.35. In the broader market, the S&P BSE Mid-Cap index added 0.19%. The S&P BSE Small-Cap index rose 0.14%. The market breadth was almost even. On the BSE, 1,439 shares rose and 1,422 shares fell. A total of 170 shares were unchanged. In Nifty 50 index, 21 stocks advanced while 29 stocks declined. Foreign portfolio investors (FPIs) bought shares worth Rs 1,879.06 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 2,370.17 crore in the Indian equity market on 13 January 2021, provisional data showed. COVID-19 Update: Total COVID-19 confirmed cases worldwide stood at 9,23,51,683 with 19,78,629 deaths. India reported 2,13,603 active cases of COVID-19 infection and 1,51,727 deaths while 1,01,46,763 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India. Economy: India's wholesale prices rose by 1.22% year-on-year in December 2020, slowing from a 1.55% gain in November 2020 and 2.76% in December 2019. Meanwhile, Fitch Ratings projected India's medium-term growth to slow down to 6.5% from FY23 onward, after the initial rebound to 11% in FY22, as the economy suffers lasting damage from the pandemic. The agency downgraded its projection of supply-side potential growth to 5.1% annually over the five-year period from 2020-25 compared to its pre-pandemic expectation of 7%. Gainers & Losers: UPL (up 3.93%), IndusInd Bank (up 3.17%), TCS (up 2.03%), GAIL (India) (up 1.98%) and BPCL (up 1.75%) were major gainers in Nifty 50 index. HCL Technologies (down 2.69%), JSW Steel (down 2%), Grasim Industries (down 1.85%), Tech Mahindra (down 1.71%) and Asian Paints (down 1.50%) were major losers in Nifty 50 index. Earning Impact: Infosys fell 1.53%. On a consolidated basis, the IT major's net profit jumped 16.6% to Rs 5,197 crore on a 12.3% rise in revenues to Rs 25,927 crore in Q3 December 2020 (Q3 FY21) over Q3 December 2019 (Q3 FY20). Sequentially, Infosys net profit rose 7.3% and revenue increased 5.5% in Q3 FY21 over Q2 September 2020 (Q2 FY21). Profit before tax (PBT) stood at Rs 7,151 crore in Q3 FY21, gaining 5.9% over Rs 6,750 crore in Q2 FY21. Income tax expense rose 2.3% to Rs 1,936 crore in Q3 FY21 over Q2 FY21. Operating profit rose 5.8% to 6,589 crore in Q3 FY21 over Q2 FY21. Operating margin stood at 25.4% in Q3 FY21, higher than 25.3% in Q2 FY21 and 21.9% in Q3 FY20. The company has revised FY21 growth guidance upward to 4.5% to 5% in constant currency term. Operating margin for FY21 is revised upward in the range of 24% to 24.5%. Wipro slipped 1.28%. The IT major, after market hours yesterday, 13 January 2021, posted a 20.37% rise in consolidated net profit to Rs 2,968 crore on a 3.68% increase in revenue to Rs 15,670 crore in Q3 December 2020 (Q3 FY21) over Q2 September 2020 (Q2 FY21). The company's consolidated net profit grew by 20.85% and revenue has risen by 1.29% in Q3 FY21 over Q3 FY20. Profit before tax (PBT) in Q3 FY21 stood at Rs 3850.4 crore, up by 20% from Rs 3,207.30 crore in Q2 FY21. Total tax expense during the third quarter increased 18% to Rs 852.6 crore in Q3 December 2020. Wipro's IT services segment revenue came at $2,071 million in Q3 FY21, a sequential growth of 3.9%. The company's non-GAAP constant currency IT services segment revenue increased by 3.4% quarter on quarter. The company said its IT services operating margin grew by 243 basis points quarter on quarter to 21.7% in Q3 FY21. Stocks in Spotlight: NHPC rose 0.40%. The company has terminated an agreement to form a joint venture company with Reliance Infrastructure and Parbati Koldam Transmission Company. Power Grid Corporation of India (POWERGRID) had signed the 'termination agreement' amongst Reliance Infrastructure (Rlnfra) and Parbati Koldam Transmission Company (PKTCL) terminating the shareholders' agreement dated 23 November 2007. The agreement was executed between POWERGRID, Rlnfra and PKTCL to form a joint venture company named PKTCL, wherein POWERGRID and Rlnfra held 26% and 74% stake, respectively. Larsen & Toubro (L&T) gained 1.82% after its construction arm secured 'significant' orders from various businesses. As per L&T's classification, the valuation of the 'significant' contract lies between Rs 1,000 crore to Rs 2,500 crore. NTPC skid 0.24%. Its subsidiary, THDC India's maiden solar power project of 50 megawatts at Kasargod Solar Park at Kerala is declared on commercial operation from 31 December 2020. THDC India is a subsidiary of NTPC. With this, the commissioned as well as commercial capacity of THDC India and NTPC group has become 1,587 mega-watt (MW) and 62,975 mega-watt (MW) respectively. Global Markets: European stocks opened higher while most Asian stocks advanced on Thursday despite ongoing concerns over the COVID-19 pandemic and political turbulence in the U.S. Vaccination rollouts across the continent have raised hopes that an end to the pandemic is on its way. Trial data published Wednesday in the New England Journal of Medicine reportedly showed Johnson & Johnson's one-shot COVID-19 vaccine is safe and appears to generate an immune response in both young and elderly volunteers. J&J's vaccine candidate, which only requires one dose, could simplify logistics for health-care providers. The two vaccines currently authorized by the Food and Drug Administration from Pfizer-BioNTech and Moderna require two doses about three to four weeks apart. In US, the S&P 500 and Nasdaq Composite closed slightly higher on Wednesday, led by tech shares, as traders kept an eye on interest rates, the political uncertainty coming out of Washington and a still raging pandemic. President-elect Joe Biden is expected to release details on his economic plan on Thursday. The S&P 500 index gained 0.2% to end the day at 3,809.84, and the tech-heavy Nasdaq advanced 0.4% to 13,128.95. The Dow Jones Industrial Average closed just 8.22 points lower, or 0.03%, at 31,060.47. Meanwhile, turmoil in Washington continues with the House on Wednesday impeaching U.S. President Donald Trump for inciting the attack on the U.S. Capitol last week. The riots led to the death of five people and raised questions in the U.S. and around the world about the integrity of U.S. democracy and a smooth transfer of presidential power. The Wall Street Journal reported that it was the fastest impeachment vote assembled in the nation's history.
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The benchmark indices were trading with small gains in early afternoon trade. Metal and IT shares declined. At 12:20 IST, the barometer index, the S&P BSE Sensex, rose 54.48 points or 0.11% at 49,546.80. The Nifty 50 index gained 8.75 points or 0.06% at 14,573.60. In the broader market, the S&P BSE Mid-Cap index added 0.29% while the S&P BSE Small-Cap index rose 0.17%. The market breadth was positive. On the BSE, 1,429 shares rose and 1,365 shares fell. A total of 156 shares were unchanged. US President-elect Joe Biden is expected to unveil a major COVID-19 relief package on Thursday. Economy: India's wholesale prices rose by 1.22% year-on-year in December 2020, slowing from a 1.55% gain in November 2020 and 2.76% in December 2019. Meanwhile, Fitch Ratings projected India's medium term growth to slow down to 6.5% from FY23 onward, after the initial rebound to 11% in FY22, as the economy suffers lasting damage from the pandemic. The agency downgraded its projection of supply-side potential growth to 5.1% annually over the five-year period from 2020-25 compared to its pre-pandemic expectation of 7%. Coronavirus Update: Total COVID-19 confirmed cases worldwide stood at 9,23,48,199 with 19,78,614 deaths. India reported 2,13,603 active cases of COVID-19 infection and 1,51,727 deaths while 1,01,46,763 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India. Derivatives: The NSE's India VIX, a gauge of market's expectation of volatility over the near term, fell 0.46% to 23.1850. The Nifty 28 January 2021 futures were trading at 14,605, at a premium of 31.40 point compared with the spot at 14,573.60. The Nifty option chain for 28 January 2021 expiry showed maximum Call OI of 24.1 lakh contracts at the 15,000 strike price. Maximum Put OI of 30.5 lakh contracts was seen at 14,000 strike price. Buzzing Index: The Nifty Metal index lost 1% to 3,488.10. The index added 0.84% in the past two days. SAIL (down 7.90%), Welspun Corp (down 2.18%), Jindal Steel & Power (down 1.97%), JSW Steel (down 1.84%) and Hindustan Zinc (down 1.56%) were the top losers in Metal segment. Stocks in Spotlight: Infosys fell 1.70%. On a consolidated basis, the IT major's net profit jumped 16.6% to Rs 5,197 crore on a 12.3% rise in revenues to Rs 25,927 crore in Q3 December 2020 (Q3 FY21) over Q3 December 2019 (Q3 FY20). Sequentially, Infosys net profit rose 7.3% and revenue increased 5.5% in Q3 FY21 over Q2 September 2020 (Q2 FY21). Profit before tax (PBT) stood at Rs 7,151 crore in Q3 FY21, gaining 5.9% over Rs 6,750 crore in Q2 FY21. Income tax expense rose 2.3% to Rs 1,936 crore in Q3 FY21 over Q2 FY21. Operating profit rose 5.8% to 6,589 crore in Q3 FY21 over Q2 FY21. Operating margin stood at 25.4% in Q3 FY21, higher than 25.3% in Q2 FY21 and 21.9% in Q3 FY20. The company has revised FY21 growth guidance upward to 4.5% to 5% in constant currency term. Operating margin for FY21 is revised upward in the range of 24% to 24.5%. Wipro slipped 1.78%. The IT major, after market hours yesterday, 13 January 2021, posted a 20.37% rise in consolidated net profit to Rs 2,968 crore on a 3.68% increase in revenue to Rs 15,670 crore in Q3 December 2020 (Q3 FY21) over Q2 September 2020 (Q2 FY21). The company's consolidated net profit grew by 20.85% and revenue has risen by 1.29% in Q3 FY21 over Q3 FY20. Profit before tax (PBT) in Q3 FY21 stood at Rs 3850.4 crore, up by 20% from Rs 3,207.30 crore in Q2 FY21. Total tax expense during the third quarter increased 18% to Rs 852.6 crore in Q3 December 2020. Wipro's IT services segment revenue came at $2,071 million in Q3 FY21, a sequential growth of 3.9%. The company's non-GAAP constant currency IT services segment revenue increased by 3.4% quarter on quarter. The company said its IT services operating margin grew by 243 basis points quarter on quarter to 21.7% in Q3 FY21. NHPC gained 0.60%. The company has signed definitive agreement on 13 January 2021 for implementation of the approved resolution plan submitted by NHPC for takeover of Jalpower Corporation (JPCL). JPCL is implementing 120 megawatts Rangit Stage-IV HE project in Sikkim. NHPC has further intimated that the National Company Law Tribunal (NCLT), Hyderabad bench has approved its resolution plan for taking over JPCL as going concern vide its order as on 24 December 2020.
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The key indices traded almost flat in mid-morning trade. Banks shares extended gains for third consecutive session. At 11:24 IST, the barometer index, the S&P BSE Sensex, was up 7.65 points or 0.02% at 49,499.97. The Nifty 50 index lost 4.25 points or 0.03% to 14,560.60. Larsen & Toubro (up 2.62%), TCS (up 1.36%) and Reliance Industries (up 0.88%) were the top Nifty gainers while HCL Technologies (down 2.95%), Infosys (down 1.55%) and HDFC (down 0.45%) were major Nifty losers. US President-elect Joe Biden is expected to unveil a major Covid-19 relief package on Thursday. In the broader market, the S&P BSE Mid-Cap index gained 0.31% while the S&P BSE Small-Cap index added 0.03%. The market breadth was almost even. On the BSE, 1361 shares rose and 1317 shares fell. A total of 156 shares were unchanged. Foreign portfolio investors (FPIs) bought shares worth Rs 1,879.06 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 2,370.17 crore in the Indian equity market on 13 January, provisional data showed. COVID-19 update: Total COVID-19 confirmed cases worldwide stood at 92,317,137 with 1,977,912 deaths. India reported 213,603 active cases of COVID-19 infection and 151,727 deaths, according to the data from the Ministry of Health and Family Welfare, Government of India. Buzzing Index: The Nifty Bank index rose 0.15% to 32,622, rising for third day in a row. The index has added 1.95% in three sessions. Bank of Baroda (up 1.79%), IDFC First Bank (up 1.52%), Punjab National Bank (up 1.09%), Kotak Mahindra Bank (up 0.91%), RBL Bank (up 0.57%), Federal Bank (up 0.27%), Bandhan Bank (up 0.29%), SBI (up 0.05%) advanced. Axis Bank (down 0.58%), ICICI Bank (down 0.49%) and HDFC Bank (down 0.45%) declined. IndusInd Bank rose 3.27% to Rs 973.55 after Sebi granted additional two weeks to promoters of the bank for infusion of residual capital in lieu of conversion of shares warrants issued to them worth over Rs 2,695.26 crore. Indian Bank jumped 6% to Rs 95.40. The bank has raised Tier 2 Capital Fund through private placement of Basel III compliant Tier 2 bonds aggregating to Rs 2,000 crore at a coupon of 6.18% p.a. payable annually. Global Markets: Asian stocks were mixed on Thursday. On the coronavirus vaccine front, trial data published Wednesday in the New England Journal of Medicine reportedly showed Johnson & Johnson's one-shot Covid vaccine is safe and appears to generate a immune response in both young and elderly volunteers. J&J's vaccine candidate, which only requires one dose, could simplify logistics for health-care providers. The two vaccines currently authorized by the Food and Drug Administration from Pfizer-BioNTech and Moderna require two doses about three to four weeks apart. In US, the S&P 500 and Nasdaq Composite closed slightly higher on Wednesday, led by tech shares, as traders kept an eye on interest rates, the political uncertainty coming out of Washington and a still raging pandemic. President-elect Joe Biden is expected to release details on his economic plan on Thursday. The S&P 500 index gained 0.2% to end the day at 3,809.84, and the tech-heavy Nasdaq advanced 0.4% to 13,128.95. The Dow Jones Industrial Average closed just 8.22 points lower, or 0.03%, at 31,060.47. Meanwhile, turmoil in Washington continues with the House on Wednesday impeaching U.S. President Donald Trump for inciting the attack on the U.S. Capitol last week. The riots led to the death of five people and raised questions in the U.S. and around the world about the integrity of U.S. democracy and a smooth transfer of presidential power. The Wall Street Journal reported that it was the fastest impeachment vote assembled in the nation's history.
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The domestic equity benchmarks were trading with small losses in morning trade. FMCG shares advanced for second day in a row. At 10:28 IST, the barometer index, the S&P BSE Sensex, was down 147.61 points or 0.30% at 49,344.71. The Nifty 50 index lost 50.95 points or 0.35% to 14,513.90. US President-elect Joe Biden is expected to unveil a major Covid-19 relief package on Thursday. In the broader market, the S&P BSE Mid-Cap index gained 0.18% while the S&P BSE Small-Cap index shed 0.16%. The market breadth was negative. On the BSE, 1169 shares rose and 1333 shares fell. A total of 147 shares were unchanged. COVID-19 update: Total COVID-19 confirmed cases worldwide stood at 92,317,137 with 1,977,912 deaths. India reported 213,603 active cases of COVID-19 infection and 151,727 deaths, according to the data from the Ministry of Health and Family Welfare, Government of India. Earnings Today: Den Networks (up 0.52%), HFCL (up 0.47%), Reliance Industrial Infrastructure (down 0.32%) and Tata Steel Long Products (up 1.41%) will announce Q3 earnings today. Buzzing Index: The Nifty FMCG index rose 0.68% to 34,854.35, extending gains for second day. The index has added 1.06% in two sessions. Varun Beverages (down 2.43%), Jubilant Foodworks (down 2.14%), Colgate-Palmolive India (down 0.65%) and Tata Consumer Products (down 0.61%) declined. Dabur India (up 1.87%), Britannia Industries (up 1.75%), ITC (up 1.37%), Emami (up 1.13%), Godrej Consumer (up 1.03%), United Spirits (up 0.88%) and Nestle India (up 0.64%) advanced. Stocks in news: Hindustan Aeronautics (HAL) jumped 9.68% to Rs 1010. The Union Cabinet on January 13 has approved procurement of 83 Light Combat Aircrafts (LCA) 'Tejas' from the company for the Indian Air Force (IAF). Indian Hume Pipe Company rose 1.15% to Rs 210.25 The steel pipes maker has received a letter of acceptance (LoA) for the work of Rs 198.80 crore from the Karnataka Government. The scope of the work is lifting water from Bennethora Reservoir for ground water development & drinking water purpose on turnkey basis including operation and maintenance for five years. The project is to be completed within 24 months.
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Local stocks are trading with small losses in early trade. At 9:25 IST, the barometer index, the S&P BSE Sensex, was down 31.20 points or 0.06% at 49,461.12. The Nifty 50 index was down 21.05 points or 0.14% at 14,543.80. The S&P BSE Mid-Cap index was up 0.63%. The S&P BSE Small-Cap index was up 0.3%. The market breadth, indicating the overall health of the market, is strong. On the BSE, 1151 shares rose and 710 shares fell. A total of 72 shares were unchanged. Stocks in news: Infosys dropped 2.76%. Infosys' net profit jumped 16.6% to Rs 5,197 crore on a 12.3% rise in revenues to Rs 25,927 crore in Q3 December 2020 (Q3FY21) over Q3 December 2019 (Q3FY20). Sequentially, net profit rose 7.3% and revenue increased 5.5% in Q3FY21 over Q2 September 2020 (Q2FY21). Infosys has revised FY21 growth guidance upward to 4.5% to 5% in constant currency term. Operating margin for FY21 is revised upward in the range of 24% to 24.5%. Wipro lost 2.67%. Wipro reported 20.37% rise in consolidated net profit to Rs 2,968 crore on a 3.68% increase in revenue to Rs 15,670 crore in Q3 December 2020 (Q3 FY21) over Q2 September 2020 (Q2 FY21). The company's consolidated net profit has grown by 20.85% and revenue has risen by 1.29% in Q3 FY21 over Q3 FY20. Wipro expects revenue from its IT services business to be in the range of $2,102 million to $2,143 million in Q4 March 2021, a sequential growth of 1.5% to 3.5%. Tata Consultancy Services (TCS) fell 0.06%. TCS has launched a curated version of its flagship cloud management and orchestration platform, TCS Cloud Exponence on Microsoft Azure. Power Grid Corporation of India (POWERGRID) rose 0.54%. POWERGRID has signed the 'Termination Agreement' amongst Reliance Infrastructure (Rlnfra) and Parbati Koldam Transmission Company (PKTCL) terminating the Shareholders' Agreement (SHA) dated 23 November 2007, which was executed between POWERGRID, Rlnfra and PKTCL to form a JVC named PKTCL, wherein POWERGRID and Rlnfra hold 26% and 74% equity shares in PKTCL, respectively. SAIL slumped 9.04% to Rs 67.95. SAIL said the government will sell up to a 10% stake in the company through offer for sale on January 14-15 and the floor price has been fixed at Rs 64 per share. Indian Bank rose 0.67%. Indian Bank has successfully raised Tier 2 Capital Fund through Private Placement of Basel III compliant Tier 2 Bonds aggregating to Rs 2000 crore at a coupon of 6.18% p.a. payable annually. Global Markets: Overseas, Asian stocks are trading mixed on Thursday as investors await the release of Chinese trade data for December. On the coronavirus vaccine front, trial data published Wednesday in the New England Journal of Medicine reportedly showed Johnson & Johnson's one-shot Covid vaccine is safe and appears to generate a immune response in both young and elderly volunteers. J&J's vaccine candidate, which only requires one dose, could simplify logistics for health-care providers. The two vaccines currently authorized by the Food and Drug Administration from Pfizer-BioNTech and Moderna require two doses about three to four weeks apart. In US, the S&P 500 and Nasdaq Composite closed slightly higher on Wednesday, led by tech shares, as traders kept an eye on interest rates, the political uncertainty coming out of Washington and a still raging pandemic. President-elect Joe Biden is expected to release details on his economic plan on Thursday. The S&P 500 index gained 0.2% to end the day at 3,809.84, and the tech-heavy Nasdaq advanced 0.4% to 13,128.95. The Dow Jones Industrial Average closed just 8.22 points lower, or 0.03%, at 31,060.47. Meanwhile, turmoil in Washington continues with the House on Wednesday impeaching U.S. President Donald Trump for inciting the attack on the U.S. Capitol last week. Back home, the domestic equity barometers ended almost flat after a volatile session on Wednesday. Select autos and PSU banks advanced while pharma and financial stocks lagged. The barometer index, the S&P BSE Sensex, was down 24.79 points or 0.05% to 49,492.32. The Nifty 50 index added 1.40 points or 0.01% to 14,564.85. Foreign portfolio investors (FPIs) bought shares worth Rs 1,879.06 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 2,370.17 crore in the Indian equity market on 13 January, provisional data showed.
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Key equity barometers hit fresh intraday low as selling intensified in mid-afternoon trade. At 14:24 IST, the barometer index, the S&P BSE Sensex, was down 233.96 points or 0.47% to 49,283.15. The Nifty 50 index lost 66.70 points or 0.46% to 14,496.75. Investors continued to monitor the developments on the US political front as the US House of Representatives is expected to vote on an impeachment motion against President Trump today. The broader market underperformed the benchmark indices. The S&P BSE Mid-Cap index fell 1.13%. The S&P BSE Small-Cap index slipped 0.79%. Sellers outpaced buyers. On the BSE, 1051 shares rose and 1957 shares fell. A total of 149 shares were unchanged. Economy: The country's retail inflation, which is measured by the Consumer Price Index (CPI), eased to 4.59% in the month of December mainly due to decline in food prices. The retail inflation for the month of November was 6.93%. India's factory output, measured in terms of Index of Industrial Production (IIP), witnessed a contraction of 1.9% for November 2020, reverting back to the declining territory after rising in the previous two months, data released by the Ministry of Statistics & Programme Implementation (MOSPI) showed on Tuesday. COVID-19 Update: Total COVID-19 confirmed cases worldwide stood at 9,16,05,941 with 19,62,345 deaths. India reported 2,14,507 active cases of COVID-19 infection and 1,51,529 deaths while 1,01,29,111 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India. Buzzing Index: The Nifty Auto index rose 0.44% to 10,164.40. The index has added 8.37% in five sessions. Mahindra & Mahindra (up 6.26%), Tata Motors (up 2.12%) and Bharat Forge (up 1.47%) advanced. TVS Motor Company (down 1.30%), Bajaj Auto (down 0.98%), Ashok Leyland (down 0.66%), Hero MotoCorp (down 0.52%), Maruti Suzuki (down 0.46%) and Eicher Motors (down 0.40%) declined. Hero MotoCorp shed 0.57% to Rs 3227.5. The motorcycles & scooters manufacturer, reinforced its presence in Central America by appointing new distributor partners in Nicaragua and Honduras, with expansion plans for both the countries. Tata Motors advanced 2.25% to Rs 243.15 after the Tata Motors Group global wholesales in Q3 FY21, including Jaguar Land Rover, stood at 2.78 lakh units, recording a 1% year-on-year (Y-o-Y) growth compared with Q3 FY20. Global wholesales of all Tata Motors' commercial vehicles and Tata Daewoo range in Q3 FY21 were at 90,365 units, falling 4% year-on-year (Y-o-Y) over Q3 FY20. Global wholesales of all passenger vehicles (PV) in Q3 FY21 stood at 1.88 lakh units, rising 4% Y-o-Y as against Q3 FY20. Global wholesales for Jaguar Land Rover were at 1.19 lakh units (JLR number for Q3 FY21 includes CJLR volumes of 17,078 units) while Jaguar wholesales for the quarter stood at 22,466 vehicles and Land Rover wholesales for the quarter at 97,192 vehicles. Stocks in Spotlight: Filatex India tumbled 4.24% to Rs 67.80. The textile firm's net profit surged 255.63% to Rs 66.04 crore in Q3 FY21 compared with Rs 18.57 crore in Q3 FY20. Net sales during the quarter declined 2.19% year-on-year (YoY) to Rs 721.59 crore. EBITDA stood at Rs 120.2 crore in third quarter as against Rs 55.9 crore in the corresponding quarter last fiscal. EBITDA margin was at 16.65% as on 30 December 2020 compared with 7.57% as on 30 December 2019. Unichem Laboratories lost 1.13% to Rs 274.50. The company said that it had received ANDA approval for its Celecoxib Capsules, 50 mg, 100 mg, 200 mg, and 400 mg from the United States Food and Drug Administration (US FDA). The product is a generic version of Celebrex capsules of G.D. Searle LLC, Division of Pfizer Inc. The capsules are indicated for treatment of osteoarthritis, rheumatoid arthritis juvenile rheumatoid arthritis, ankylosing spondylitis, acute pain and primary dysmenorrhea. Numbers To Track: In the foreign exchange market, the partially convertible rupee appreciated to 73.1950 compared with its previous closing of 73.2550. The yield on 10-year benchmark federal paper rose to 5.945% as compared to its previous close of 5.931%. MCX Gold futures for 5 February 2021 settlement added 0.63% to Rs 49,352. The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, shed 0.05% to 90.42. In the commodities market, Brent crude for March 2021 settlement added 28 cents to $56.86 a barrel. The contract gained 1.65% or 92 cents to settle at $56.58 in the previous trading session.
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The benchmark indices extended losses in afternoon trade. At 13:20 IST, the barometer index, the S&P BSE Sensex, skid 99.48 points or 0.20% at 49,417.63. The Nifty 50 index lost 12.90 points or 0.09% at 14,550.55. Investors monitored the developments on the US political front as the US House of Representatives is expected to vote on an impeachment motion against President Trump today. The broader market underperformed the benchmark indices. The S&P BSE Mid-Cap index fell 0.58%. The S&P BSE Small-Cap index slipped 0.21%. Sellers outpaced buyers. On the BSE, 1,264 shares rose and 1,696 shares fell. A total of 145 shares were unchanged. In Nifty 50 index, 29 stocks advanced while 21 stocks declined. Foreign portfolio investors (FPIs) bought shares worth Rs 571.47 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 1,334.50 crore in the Indian equity market on 12 January 2021, provisional data showed. Economy: The country's retail inflation, which is measured by the Consumer Price Index (CPI), eased to 4.59% in the month of December mainly due to decline in food prices. The retail inflation for the month of November was 6.93%. India's factory output, measured in terms of Index of Industrial Production (IIP), witnessed a contraction of 1.9% for November 2020, reverting back to the declining territory after rising in the previous two months, data released by the Ministry of Statistics & Programme Implementation (MOSPI) showed on Tuesday. COVID-19 Update: Total COVID-19 confirmed cases worldwide stood at 9,16,05,941 with 19,62,345 deaths. India reported 2,14,507 active cases of COVID-19 infection and 1,51,529 deaths while 1,01,29,111 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India. Gainers & Losers: Mahindra & Mahindra (M&M) (up 6.57%), IOCL (up 4.03%), BPCL (India) (up 3.33%), ONGC (up 3.14%) and Bharti Airtel (up 2.52%) were major gainers in Nifty 50 index. HDFC (down 2.60%), Bajaj Finance (down 2.16%), Shree Cement (down 2.08%), UPL (down 1.64%) and Bajaj Finserv (down 1.55%) were major losers in Nifty 50 index. Nifty Results Today: Infosys (up 1.18%) and Wipro (up 0.64%) will announce their quarterly earnings today. Stocks in Spotlight: Tata Motors advanced 2.14% after the Tata Motors Group global wholesales in Q3 FY21, including Jaguar Land Rover, stood at 2.78 lakh units, recording a 1% year-on-year (Y-o-Y) compared with Q3 FY20. Global wholesales of all Tata Motors' commercial vehicles and Tata Daewoo range in Q3 FY21 were at 90,365 units, falling 4% year-on-year (Y-o-Y) over Q3 FY20. Global wholesales of all passenger vehicles (PV) in Q3 FY21 stood at 1.88 lakh units, rising 4% Y-o-Y as against Q3 FY20. Global wholesales for Jaguar Land Rover were at 1.19 lakh units (JLR number for Q3 FY21 includes CJLR volumes of 17,078 units) while Jaguar wholesales for the quarter stood at 22,466 vehicles and Land Rover wholesales for the quarter at 97,192 vehicles. Larsen & Toubro (L&T) gained 0.04%. The company said its construction arm secured 'significant' orders for its various businesses. As per L&T's classification, the valuation of the 'significant' contract lies between Rs 1,000 crore to Rs 2,500 crore. L&T Construction's Metallurgical and Material Handling (MMH) business received orders to construct a metallurgical plant in the domestic market, add on orders from an overseas package and product supply orders from various customers. L&T said traction in metal prices gives a good outlook for the business in the near and medium term. Global Markets: Shares in Europe and Asia advanced on Wednesday as hopes are boosted that the rollout of COVID-19 vaccines worldwide will soon start to bring an end to the pandemic. European markets are keeping track of COVID-19 developments in the region, with governments looking to accelerate, or to keep good momentum, in their coronavirus vaccination drives. In the meantime, lockdowns have been extended in Germany and the Netherlands. In Asia, the Japanese government is set to expand the state of emergency to more areas on Wednesday, as per reports. That comes after Japanese Prime Minister Yoshihide Suga recently declared a state of emergency in Tokyo and three other areas in a bid to stem a rise in coronavirus infections. Meanwhile, local Chinese authorities in regions near Beijing are reportedly stepping up restrictions on social activity following a rise in new coronavirus cases. In US, stocks closed along the flatline on Tuesday as traders weighed higher rates, possible stimulus and political turmoil. Investors will watch for developments from Washington, with the U.S. House set to push ahead with efforts to remove President Donald Trump from office over his role in sparking last week's deadly attack on the US Capitol. As per reports, Vice President Mike Pence told House Speaker Nancy Pelosi on Tuesday that he does not support invoking the 25th Amendment against President Donald Trump. Pence's letter came as the House is preparing to vote on a resolution calling on Pence to convene and mobilize Trump's cabinet to remove the president from power, using the powers granted by the amendment, the reports added. House Democrats reportedly are moving forward with efforts to remove Trump from office following last week's riot at the U.S. Capitol, which they charge he incited. An impeachment vote is reportedly expected on Wednesday.
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Domestic barometers were trading with minor losses on in early afternoon trade. At 12:20 IST, the barometer index, the S&P BSE Sensex, fell 20.25 points or 0.04% at 49,496.86. The Nifty 50 index slipped 2.05 points or 0.01% at 14,561.40. Investors monitored the developments on the US political front as the US House of Representatives is expected to vote on an impeachment motion against President Trump today. In the broader market, the S&P BSE Mid-Cap index lost 0.18% while the S&P BSE Small-Cap index fell 0.06%. The market breadth was negative. On the BSE, 1,261 shares rose and 1,615 shares fell. A total of 157 shares were unchanged. Coronavirus Update: Total COVID-19 confirmed cases worldwide stood at 9,15,94,383 with 19,62,219 deaths. India reported 2,14,507 active cases of COVID-19 infection and 1,51,529 deaths while 1,01,29,111 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India. Derivatives: The NSE's India VIX, a gauge of market's expectation of volatility over the near term, jumped 4.43% to 23.86. The Nifty 28 January 2021 futures were trading at 14,578.75, at a premium of 17.35 point compared with the spot at 14,561.40. The Nifty option chain for 28 January 2021 expiry showed maximum Call OI of 22.5 lakh contracts at the 15,000 strike price. Maximum Put OI of 31.10 lakh contracts was seen at 14,000 strike price. Buzzing Index: The Nifty Realty index gained 1.20% to 342.70. The index added 8.32% in six days. DLF (up 7.61%), Sobha (up 1.90%), Brigade Enterprises (up 1.38%), Prestige Real Estates (up 1.10%) and Indiabulls Real Estate (up 1%) advanced. Stocks in Spotlight: Tata Elxsi's jumped 8.23% after the company's net profit jumped 39.5% to Rs 105.20 crore on 10.9% rise in total income to Rs 492.20 crore in Q3 December 2020 over Q3 December 2019. Earnings before Interest, Tax, Depreciation and Amortization (EBITDA) rose 52.4% to Rs 143.60 crore in Q3 December 2020 over Q3 December 2019. EBITDA margin expanded to 30.1% in Q3 December 2020 from 22.2% in Q3 December 2019. Hero MotoCorp rose 0.41%. The motorcycles & scooters manufacturer, reinforced its presence in Central America by appointing new distributor partners in Nicaragua and Honduras, with expansion plans for both the countries. Hero MotoCorp has lined up a slew of new launches, including its range of premium motorcycles, in both countries and will also expand its network with extensive customer touch-points and flagship stores in key markets. Grupo Casa Pellas - one of biggest economic groups and the leading motorcycles, cars and trucks company in Nicaragua has been appointed as the exclusive distributor of Hero MotoCorp in the country. The company has appointed Movesa S.A., as its exclusive distributor in Honduras. Movesa S.A. has 14 years of experience in the motorcycle market and is based out of Honduras. Hero MotoCorp's refreshed product portfolio in Honduras will include two new products - the XPulse 200 and the new Hunk 160R (Xtreme 160R in India).
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The key equity indices sharply pared gains in mid-morning trade. At 11:26 IST, the barometer index, the S&P BSE Sensex, was down 28.06 points or 0.06% to 49,489.05. The Nifty 50 index added 13.90 points or 0.10% to 14,577.35. Investors monitored the developments on the US political front as the US House of Representatives is expected to vote on an impeachment motion against President Trump today. In the broader market, the S&P BSE Mid-Cap index shed 0.10% while the S&P BSE Small-Cap index rose 0.12%. The market breadth was almost even. On the BSE, 1398 shares rose and 1379 shares fell. A total of 159 shares were unchanged. Foreign portfolio investors (FPIs) bought shares worth Rs 571.47 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 1,334.50 crore in the Indian equity market on 12 January, provisional data showed. COVID-19 update: Total COVID-19 confirmed cases worldwide stood at 91,577,327 with 1,962,017 deaths. India reported 214,507 active cases of COVID-19 infection and 151,529 deaths, according to the data from the Ministry of Health and Family Welfare, Government of India. Buzzing Index: The Nifty FMCG index rose 0.69% to 34,726.35. The index lost 0.56% in the previous session. ITC (up 2.06%), United Breweries (up 1.29%), Godrej Consumer (up 1.04%), Nestle India (up 0.67%), United Spirits (up 0.64%) and Hindustan Unilever (up 0.52%) advanced. Jubilant Foodworks (down 1.22%), Varun Beverages (down 0.66%) and Britannia Industries (down 0.33%) declined. Stocks in Spotlight: Adani Green Energy tumbled 1.85% to Rs 908.08. The counter clocked a volume of 193.23 lakh shares, a 247.73 fold spurt over two-week average daily volume of 0.78 lakh shares. Larsen & Toubro (L&T) rose 0.39% to Rs 1355 after the company said its construction arm secured 'significant' orders for its various businesses. As per L&T's classification, the valuation of the 'significant' contract lies between Rs 1000 crore to Rs 2500 crore. Bharti Airtel added 3.79% to Rs 587.20. The telecom operator said that it has received approvals for its relevant downstream investments and it is initiating process to revise its foreign investment limit to 100% with an immediate effect. Global Markets: Asian stocks were trading higher on Wednesday morning trade as investors watch for developments on the coronavirus front. The Japanese government is set to expand the state of emergency to more areas on Wednesday, as per reports. That comes after Japanese Prime Minister Yoshihide Suga recently declared a state of emergency in Tokyo and three other areas in a bid to stem a rise in coronavirus infections. Meanwhile, local Chinese authorities in regions near Beijing are reportedly stepping up restrictions on social activity following a rise in new coronavirus cases. In US, stocks closed along the flatline on Tuesday as traders weighed higher rates, possible stimulus and political turmoil. Investors will watch for developments from Washington, with the U.S. House set to push ahead with efforts to remove President Donald Trump from office over his role in sparking last week's deadly attack on the Capitol. U.S. As per reports, Vice President Mike Pence told House Speaker Nancy Pelosi on Tuesday that he does not support invoking the 25th Amendment against President Donald Trump. Pence's letter came as the House is preparing to vote on a resolution calling on Pence to convene and mobilize Trump's cabinet to remove the president from power, using the powers granted by the amendment, the reports added. House Democrats reportedly are moving forward with efforts to remove Trump from office following last week's riot at the U.S. Capitol, which they charge he incited. An impeachment vote is reportedly expected on Wednesday.
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The domestic equity benchmarks pared gains in morning trade. Banks shares were in demand. Bharti Airtel spurted after the company said it is initiating the process to revise its foreign investment limit to 100% with immediate effect. At 10:25 IST, the barometer index, the S&P BSE Sensex, was up 207.72 points or 0.42% to 49,724.83. The Nifty 50 index added 57.35 points or 0.39% to 14,620.80. The Sensex hit a record high of 49,795.19 and the Nifty hit a record high of 14,653.35 in early trade today. In the broader market, the S&P BSE Mid-Cap index gained 0.26% while the S&P BSE Small-Cap index rose 0.34%. The market breadth was positive. On the BSE, 1502 shares rose and 1077 shares fell. A total of 137 shares were unchanged. COVID-19 update: Total COVID-19 confirmed cases worldwide stood at 91,577,327 with 1,962,017 deaths. India reported 214,507 active cases of COVID-19 infection and 151,529 deaths, according to the data from the Ministry of Health and Family Welfare, Government of India. Earnings Today: Infosys (up 0.11%), Wipro (up 1.25%), 5paisa Capital (down 4.66%), CESC (up 0.21%) and GTPL Hathway (up 1.75%) will announce their quarterly earnings today. Buzzing Index: The Nifty Bank index added 0.72% to 32,571.95, rising for second consecutive session. The index has added 1.79% in two sessions. The index gained 1.06% to hit the day's high at 32,683.50, which is also a record high for the index. Bank of Baroda (up 3.18%), SBI (up 2.43%), ICICI Bank (up 1.88%), IndusInd Bank (up 1.43%), Federal Bank (up 1.31%), RBL Bank (up 1.30%), Punjab National Bank (up 0.68%), Axis Bank (up 0.67%), HDFC Bank (up 0.05%) advanced. Bandhan Bank (down 1.89%), IDFC First Bank (down 1.27%) and Kotak Mahindra Bank (down 0.86%) declined. Stocks in Spotlight: Bharti Airtel added 3.76% to Rs 587. The telecom operator said that it has received approvals for its relevant downstream investments and it is initiating process to revise its foreign investment limit to 100% with an immediate effect. Further to our intimation dated January 21, 2020, we wish to inform you that in compliance of the FDI approval dated January 20, 2020 granted to the Company by the Department of Telecommunications, the Company has received approvals for its relevant downstream investments, Airtel informed in a filing. Accordingly, the Company is initiating the process to revise its foreign investment limit, as notified to its depositories, to 100% with immediate effect, it added. The counter clocked volume of 15.90 lakh shares as against two-week average trading volume of 8.11 lakh shares. The scrip rose 6.37% to hit the day's high at 601.8 in trade today. Tech Mahindra rose 0.90% to Rs 1073.75 after the company said that it has agreed to acquire 100% shareholding of Payments Technology Services for a cash consideration of $9 million. Headquartered in Hong Kong, Payments Technology Services entity is a stepdown subsidiary of Fidelity Information Services (FIS). The company is a payments solutions provider with a banking and financial services (BFS) focus. Bharat Rasayan rose 2.08% to Rs 10,566.15. The board of Bharat Rasayan on Tuesday (12 January 2021) approved a proposal to buyback upto 93,472 shares (2.2% of the total number of fully paid-up equity shares) at a price of Rs 11,500 per share, aggregating to amount not exceeding Rs 107.49 crore. The buyback price is 11.1% premium to Tuesday's closing price of 10,350.40.
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Key benchmark indices are trading firm in early trade on buying demand in index pivotals. At 9:25 IST, the barometer index, the S&P BSE Sensex, was up 198.14 points or 0.4% at 49,715.25. The Nifty 50 index was up 66.70 points or 0.46% at 14,630.15. The Sensex scaled record high above 49,750 mark in early trade. The Nifty also hit record high a tad below 14,650 level. The S&P BSE Mid-Cap index was up 0.51%. The S&P BSE Small-Cap index was up 0.65%. The market breadth, indicating the overall health of the market, is strong. On the BSE, 1464 shares rose and 646 shares fell. A total of 80 shares were unchanged. Key Q3 results: IT majors Infosys and Wipro will announce their quarterly earnings today, 13 January 2021. Stocks in news: Tata Motors advanced 3.36%. Tata Motors Group global wholesales in Q3 FY21, including Jaguar Land Rover, were at 278,915 units, higher by 1%, as compared to Q3 FY20. Global wholesales of all Tata Motors' commercial vehicles and Tata Daewoo range in Q3 FY21 were at 90,365 units, lower by 4%, over Q3 FY20. Global wholesales of all passenger vehicles in Q3 FY21 were at 1,88,550 units, higher by 4% as compared to Q3 FY20. Hero MotoCorp rose 0.78%. Hero MotoCorp has reinforced its presence in Central America by appointing new distributor partners in Nicaragua and Honduras, with aggressive expansion plans for both countries. Hero MotoCorp has lined up a slew of new launches, including its range of premium motorcycles, in both countries and will also expand its network with extensive customer touch-points and flagship stores in key markets. Bharti Airtel surged 4.26%. Bharti Airtel said that in compliance of the FDI approval dated 20 January 2020 granted to the company by the Department of Telecommunications, the company has received approvals for its relevant downstream investments. Accordingly, the company is initiating the process to revise its foreign investment limit, as notified to its depositories, to 100% with immediate effect. Tech Mahindra rose 0.67%. Tech Mahindra has agreed to acquire 100% shareholding of Payments Technology Services for $9 million. The transaction is expected to close by 31 March 2021. Tata Elxsi jumped 8.44%. The company's net profit jumped 39.5% to Rs 105.20 crore on 10.9% rise in total income to Rs 492.20 crore in Q3 December 2020 over Q3 December 2019. Earnings before Interest, Tax, Depreciation and Amortization (EBITDA) rose 52.4% to Rs 143.60 crore in Q3 December 2020 over Q3 December 2019. EBITDA margin expanded to 30.1% in Q3 December 2020 from 22.2% in Q3 December 2019. Bharat Rasayan rose 1.98% to Rs 10,555.40. The company said its board of directors approved the proposal of buyback of 93,472 equity shares or 2.2% shares at Rs 11,500 per share. On the macro front, the Index of Industrial Production (IIP) contracted 1.9% for November 2020, data released on Tuesday showed. The factory output in the country had grown at 3.6% in October. India's Consumer Price Index (CPI) eased to 4.59% in December from 6.93% in November. Global Markets: Overseas, Asian stocks are trading mixed on Wednesday morning trade as investors watch for developments on the coronavirus front. In corporate news, Hong Kong-listed shares of Lenovo jumped after the firm announced Tuesday a proposed issuance and admission of Chinese depositary receipts on the Shanghai Stock Exchange's Science and Technology Innovation Board. The Japanese government is set to expand the state of emergency to more areas on Wednesday, as per reports. That comes after Japanese Prime Minister Yoshihide Suga recently declared a state of emergency in Tokyo and three other areas in a bid to stem a rise in coronavirus infections. Meanwhile, local Chinese authorities in regions near Beijing are reportedly stepping up restrictions on social activity following a rise in new coronavirus cases. In US, stocks closed along the flatline on Tuesday as traders weighed higher rates, possible stimulus and political turmoil. Investors will watch for developments from Washington, with the U.S. House set to push ahead with efforts to remove President Donald Trump from office over his role in sparking last week's deadly attack on the Capitol. U.S. Vice President Mike Pence, however, said Tuesday night he will not remove Trump from office. The developments came just days ahead of President-elect Joe Biden's inauguration on January 20. Back home, the domestic equity benchmark ended near the day's high on Tuesday. The barometer index, the S&P BSE Sensex, jumped, 247.79 points or 0.50% to 49,517.11. The Nifty 50 index added 78.70 points or 0.54% to 14,563.45. Foreign portfolio investors (FPIs) bought shares worth Rs 571.47 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 1,334.50 crore in the Indian equity market on 12 January, provisional data showed.
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The key indices were hovering near the day's high in mid-afternoon trade. At 14:21 IST, the barometer index, the S&P BSE Sensex, jumped 221.24 points or 0.45% to 49,490.56. The Nifty 50 index added 82.20 points or 0.57% to 14,566.95. The broader market outperformed the benchmarks. The S&P BSE Mid-Cap index rose 0.67%. The S&P BSE Small-Cap index added 0.35%. Buyers outpaced sellers. On the BSE, 1618 shares rose and 1377 shares fell. A total of 181 shares were unchanged. Economy: RBI Governor Shaktikanta Das, in his foreword for the financial stability report released on Monday, said: Stretched valuations of financial assets pose risks to financial stability. Banks and financial intermediaries need to be cognizant of these risks and spillovers in an interconnected financial system. The financial stability report has also warned that banks' bad loans may double by September 2021. The RBI sees gross bad loans account for 13.5% of total loans by September even in a base case scenario. The RBI expects banks' capital ratios will erode to 14% in September from 15.6% in September 2020, the report showed. This may worsen to 12.5% in a very severe stress scenario, under which nine banks may fall short of meeting the minimum capital requirement of 9%. Buzzing Index: The Nifty FMCG index shed 0.45% to 34,525.65. The index rose 1.91% in the past two sessions. Varun Beverages (down 2.73%), Hindustan Unilever (down 2.06%), Jubilant Foodworks (down 1.94%), Colgate-Palmolive India (down 1.76%), Nestle India (down 1.73%), Marico (down 1.14%) and Dabur India (down 1%) edged lower. Emami (up 4.50%), ITC (up 1.83%), United Breweries (up 1.70%), United Spirits (up 1.30%) and Britannia Industries (up 0.73%) bucked the trend. Stocks in Spotlight: Steel Strips Wheels (SSWL) rose 2.92% to Rs 666.95 after the company's net profit soared 4.57 times to Rs 28.75 crore in Q3 FY21 from Rs 6.29 crore in Q3 FY20. Revenue from operations during the quarter increased by 52.66% year-on-year (YoY) to Rs 524.54 crore in Q3 FY21. Mahindra Lifespace Developers rose 0.83% to Rs 390 after the company signed a Memorandum of Understanding (MoU) with State Bank of India. As part of the agreement, which includes various co-promotional activities and outreach initiatives, customers and employees of SBI and Mahindra Lifespaces will be able to avail the benefits of faster home loan processing and approvals, and special discounts and schemes. RITES rose 1.54% to Rs 273.15 after the company secured a work order of Rs 67.79 crore from National High Speed Rail Corporation (NHSRCL). The order is for establishment and maintenance of Continuously Operating Reference Stations (CORS) along 487 km long Mumbai-Ahmedabad High Speed Rail Corridor. The contract is for a period of six years. Numbers To Track: In the foreign exchange market, the partially convertible rupee rose to 73.3475 compared with its previous closing of 73.40225. The yield on 10-year benchmark federal paper rose to 5.927% as compared to its previous close of 5.924%. MCX Gold futures for 5 February 2021 settlement added 0.12% to Rs 49,400. The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, shed 0.05% to 90.42. In the commodities market, Brent crude for March 2021 settlement added 28 cents to $55.94 a barrel. The contract shed 0.60% or 33 cents to settle at $55.66 in the previous trading session.
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The equity barometers extended gains and hit fresh intraday high in afternoon trade. Realty, auto and metal shares advanced while pharma and FMCG shares declined. At 13:20 IST, the barometer index, the S&P BSE Sensex, jumped 174.08 points or 0.35% at 49,443.40. The Nifty 50 index gained 60.70 points or 0.42% at 14,545.45. The broader market outperformed the benchmarks. The S&P BSE Mid-Cap index rose 0.69%. The S&P BSE Small-Cap index added 0.48%. Buyers outpaced sellers. On the BSE, 1647 shares rose and 1282 shares fell. A total of 166 shares were unchanged. In Nifty 50 index, 30 stocks advanced while 20 stocks declined. Foreign portfolio investors (FPIs) bought shares worth Rs 3,138.90 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 2,610.13 crore in the Indian equity market on 11 January 2021, provisional data showed. COVID-19 Update: Total COVID-19 confirmed cases worldwide stood at 9,08,94,797 with 19,44,754 deaths. India reported 2,16,558 active cases of COVID-19 infection and 1,51,327 deaths while 1,01,11,294 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India. Bharat Biotech reportedly inked a purchase agreement with the Government of India on January 11 to provide 55 lakh doses of COVID-19 vaccine Covaxin at Rs 295 per dose. The pharma firm will be providing its coronavirus vaccine directly to 12 states, and the process will be completed in two days by January 14. Dispatches will begin from Hyderabad starting January 12. Bharat Biotech will be providing 38.5 lakh doses of the COVID-19 vaccine in stage 1 and 16.5 doses in stage 2. Economy: RBI Governor Shaktikanta Das, in his foreword for the financial stability report released on Monday, said: Stretched valuations of financial assets pose risks to financial stability. Banks and financial intermediaries need to be cognizant of these risks and spillovers in an interconnected financial system. The financial stability report has also warned that banks' bad loans may double by September 2021. The RBI sees gross bad loans account for 13.5% of total loans by September even in a base case scenario. The RBI expects banks' capital ratios will erode to 14% in September from 15.6% in September 2020, the report showed. This may worsen to 12.5% in a very severe stress scenario, under which nine banks may fall short of meeting the minimum capital requirement of 9%. Meanwhile, a foreign broker stated in its research report that with number of active COVID-19 cases falling sharply, India's economy is expected to clock the fastest growth among Asian peers with higher than 11.5% growth in FY 2022. Gainers & Losers: Tata Motors (up 9.81%), Eicher Motors (up 4.92%), GAIL (India) (up 3.91%), Coal India (up 3.25%) and Bharti Airtel (up 2.59%) were major gainers in Nifty 50 index. Asian Paints (down 2.01%), Divis' Laboratories (down 1.89%), Sun Pharmaceutical Industries (down 1.85%), Hindustan Unilever (down 1.82%) and Tech Mahindra (down 1.77%) were major losers in Nifty 50 index. Stocks in Spotlight: Burger King India slipped 1.43% after Eastspring Investments India Consumer Equity Open sold 27,55,323 equity shares of the company at Rs 154.92 per share on the NSE. According to NSE bulk deal data, Eastspring Investments India Consumer Equity Open on Monday (11 January 2021), offloaded 27,55,323 equity shares (representing 0.72% stake) of Burger King India at average price of Rs 154.92. Talbros Automotive Components surged 7.01% after the company said it won a multi-year order for supplying body in white (BIW) parts to a large European car manufacturer. Marelli Talbros Chassis Systems, the 50% joint venture company of Talbros Automotive Components has received multi-year order from a large European car manufacturer. The order is for supplying BIW (body in white design) parts. The order supplies will begin in Q1 FY22 from the JV company's plant in Pune, Maharashtra. The annual order value is estimated at Rs 14.4 crore. The order value is estimated at approximately Rs 92 crore over the life of the contract. No major investments will be required to fulfill this order as the JV company has sufficient capacity. Global Markets: European stocks were mixed on Tuesday as investors remain focused on the latest coronavirus developments and the state of U.S. politics. Rising infections in Europe are dominating investor concerns although there is hope amid a mass rollout of vaccinations across the continent. Most Asian shares were mostly trading higher on Tuesday. However, South Korea's Kospi declined nearly 2% in trade today. Malaysia's King on Tuesday reportedly declared a state of emergency in the country. That came after Malaysian Prime Minister Muhyiddin Yassin reportedly announced Monday that the country would tighten COVID-19 restrictions from Wednesday, with multiple states coming under a lockdown. Consequently, the FTSE Bursa Malaysia KLCI index slipped 0.74%. President Donald Trump on Monday reportedly approved an emergency declaration for Washington that lasts through January 24, after authorities warned of security threats to President-elect Joe Biden's inauguration next week. US stocks declined from record high on Monday, 11 January 2021, with major indices- S&P 500 index, the Dow Jones Industrial Average, and the technology-heavy Nasdaq Composite all settling lower, as investors elected to book some profit amid concerns about stocks valuations after record-setting runs. Rising coronavirus cases across the world and concerns about developments in Washington also weighed on stocks. At the close of trade, the Dow Jones Industrial Average index declined 0.29%, the S&P 500 index slipped 0.66% and the tech-heavy Nasdaq Composite Index lost 1.25%. Political uncertainty continues to hang over markets. House Democrats are preparing to impeach Donald Trump even though the president has less than two weeks left in his term. After the siege of the U.S. Capitol building by Trump supporters last week, Democrats are concerned about additional incitement by the president in his final days in office.
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