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Stock Market Highlights: Sensex ends 77 pts lower as market gives up day's gains; RBL Bank down 4%

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Stock Market Highlights: Sensex ends 77 pts lower as market gives up day's gains; RBL Bank down 4%

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Stock Market Highlights: Indian equity benchmarks Sensex and Nifty50 ended a volatile session lower on Friday.  The Nifty began the February F&O series, a day after ending the January series with a loss of 93.8 points. Losses in financial and select auto stocks pulled the headline indices lower, though gains in IT and consumer shares lent some support. Broader markets strengthened, aiding investor sentiment, with the Nifty Midcap 100 and Nifty Smallcap 100 indices rising 1.5 percent and one percent respectively. Broader markets also strengthened, with the Nifty Midcap 100 and Nifty Smallcap 100 indices up nearly two percent each in early deals. Investors awaited more of quarterly numbers from India Inc for cues.

  • Thank you, readers! That's all from CNBC-TV18.com's live market coverage on January 31, 2022. Stay tuned for other updates on our website: CNBCTV18.com

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    Catch CNBCTV18's coverage of the Union Budget here

  • Economic Survey has gone through change in format: Sanjeev Sanyal 

    From a descriptive document published as part of the Union Budget in 1950s, the Economic Survey has evolved to be a lot more substantial and analytical over the years, presented as a separate document a day before the Budget, Principal Economic Advisor Sanjeev Sanyal said on Monday. 

    The Economic Survey 2021-22 comes a day ahead of the presentation of the Union Budget in Parliament by the Finance Minister. 

    Read more from CNBC-TV18's budget coverage here

  • Thank you, readers! That's all from CNBC-TV18.com's live market coverage on January 28, 2022. Stay tuned for other updates on our website: CNBCTV18.com.

    You can follow us on Twitter: @CNBCTV18Live @CNBCTV18News

    And on FacebookLinkedInInstagram and Telegram

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  • Budget 2022 | Government may make new personal income tax regime more attractive, say sources

    The government is aiming to make the new simplified personal income tax regime more attractive for the salaried class, sources told CNBC-TV18. It is considering tweaking the new tax regime to encourage taxpayer adoption, and is expected to club standard deduction and interest against home loans, they said. (Read more on what to expect)

    Find more on the upcoming Union Budget here

  • Next 2-3 quarters to be exception for Vedanta: Dipan Mehta

    Dipan Mehta, Director at Elixir Equities, believes the next 2-3 quarters are going to be exceptional for Vedanta. "We have seen the rally in commodity prices that is being reflected in Vedanta’s earnings. The stock has rallied and some of the concerns around promoter group debt have yet not been addressed. The current management is prone to making a lot of sharp moves... They keep on throwing googlies at minority investors and that is a bit of concern.

    "If one is already invested in the stock, one should just enjoy the ride for next 6-12 months or so, but at these levels, it is more like a moving train and I wouldn’t like to get into it,” he said. 

  • Nifty closed below 50-day SMA after long time: Kotak Securities' Amol Athawale

    Amol Athawale, Deputy Vice President-Technical Research at Kotak Securities, said the Nifty had closed below its 50-day simple moving average after a long time, and formed a bearish candle on the weekly chart, which is negative for the market.

    "For the bulls, 17,300 would be the important breakout level to watch and if the Nifty manages to close above the same, we could expect continuation of an uptrend wave up to 17,450-17,550 levels. On the flipside, a drop below 17,000 may trigger further weakness up to 16,800-16,700 levels," he said. 

    He also said the Nifty Bank is near its 20-day SMA, any movement above which could see the index rally up to 38,500-39,000 levels.

  • Sell-off already done, Nifty likely to rise to 18,000-plus in 1 month: Prakash Diwan

    Market expert Prakash Diwan believes the sell-off is already behind, and except some movement of 100-150 points, the Nifty50 is likely to start inching back on positive newsflow to 18,000-plus levels in the next one month. "There no hurry to buy; there's enough money with PMS mutual funds. A lot of institutions and HNIs are sitting on cash, and smart money is on the sidelines. The key trigger is going to be the Budget. Going into the budget with low expectation is another plus, I don't think the market is building up itself for some sort of exuberance at this point in time, which means that anything that comes through positively favorably is going to be good," he said. 

  • Market This Week | Sensex, Nifty50, Nifty Bank down 3% 

    Here are some highlights: 

    --Nifty IT top loser among sectoral indices, down 6% 

    --Midcap index down 2%

    --PSU Bank, PSU indices log weekly gains

    --India VIX rises

    --35 of Nifty stocks fall; Tech Mahindra, Wipro, Titan top losers

    --Cipla, Axis Bank, IndusInd, NTPC, Maruti, SBI, Bharti Airtel top Nifty gainers

    --IndiaMART, Torrent Pharma, Trent, Dixon, Astral top midcap losers

    --Canara, Bank of Baroda, LIC Housing, Union Bank, Bandhan, Federal Bank top midcap losers

  • Rupee ends nearly unchanged at 75.04 vs US dollar 

    The rupee ended at 75.04 against the greenback. On Thursday, it had settled at 75.07.

  • Market At Close | Sensex down 884 points from day’s high

    Here are some highlights: 

    --Last-hour fall takes headline indices near day’s lows; banking stocks top losers

    --Sensex down 77 points at 57,200 for the day, off 884 points from intraday high 

    --Nifty recedes 272 points from day’s high 

    --Midcap index relatively outperforms; market breadth favours bulls

    --Nifty Banks down 293 points at 37,689, retreats 732 points from day’s high

    --ICICI Bank, HDFC Bank, Maruti pull headline indices lower; TCS, Infosys, ITC lend support

    --Maruti Suzuki top Nifty loser, down 3%

    --Tech Mahindra, PowerGrid, ICICI Bank, Hero MotoCorp, Axis Bank top Nifty losers

    --NTPC, UPL top Nifty gainers ahead of Q3 earnings

    --Sun Pharma up 2% after improved set of earnings by Taro

    --Bharti Airtel up 1% but off day’s high after Google deal announcement

  • Market At Close | NTPC, UPL, Sun Pharma, Tata Consumer, IndusInd Bank top blue-chip gainers

    ONGC, Mahindra & Mahindra, Indian Oil, Bharti Airtel and Indian Oil were also among the top gainers. On the other hand, Maruti Suzuki, Tech Mahindra, PowerGrid, ICICI Bank, Hero MotoCorp, Axis Bank, Bajaj Finserv and SBI were the worst hit among the 19 laggards in the Nifty50 pack. 

    Here's how the 30-scrip basket fared:

  • Closing Bell | Sensex down 77 points at 57,200, Nifty50 at 17,102

    Both headline indices gave up their intraday gains to end with a cut of 0.1 percent. The 30-scrip index lost 76.7 points to close at 57,200.2 and the broader Nifty50 benchmark settled at 17,102, down 8.2 points. (Read more on the closing bell)

  • February F&O series begins with 75% rollover from January series

    Dalal Street began the February futures & options (F&O) series on Friday, a day after the Nifty50 index ended the January series with a loss of 93.8 points or half a percent. The 50-scrip index moved within a range of 1,514 points in the monthly series gone by.

    The 30-scrip index Sensex lost 517.4 points — or 0.9 percent — during this period. (Read more on F&O rollover data)

  • Morgan Stanley sees a 30% upside in Punjab National Bank

    Punjab National Bank (PNB) shares surged over 3 percent Friday after posting a 123 percent spike in net profit. The state-owned lender reported a net profit of Rs 1,126 crore for the quarter ended December 2021, as against Rs 506 crore reported in the corresponding quarter of the previous fiscal.

  • Century Plyboards Q3 net profit jumps 42.8%

    Net profit jumped 42.8% at Rs 94.1 crore against Rs 65.9 crore (YoY). Revenue rose 29.5% at Rs 854.8 crore against Rs 660.1 crore (YoY). EBITDA was up 21.3% at Rs 150.1 crore against Rs 123.7 crore (YoY). EBITDA margin at 17.6% against 18.7% (YoY). Tax expenses at Rs 40.8 crore against Rs 28.1 crore (YoY).

  • Bajaj Healthcare Q3 revenue down 6% at Rs 167.6 crore

    Net profit went down 34.1% at Rs 17.4 crore against Rs 26.4 crore (YoY). Revenue was down 6% at Rs 167.6 crore against Rs 178.3 crore (YoY). EBITDA fell 29.8% at Rs 30.9 crore against Rs 44 crore (YoY). EBITDA margin at 18.4% against 24.7% (YoY).

  • Market Watch: Punita Kumar Sinha, Founding Partner at Pacific Paradigm Advisors

    On Auto sector

    “Autos is definitely where there is some value. It has been an underperformer. As the economy recovers from the pandemic, I think autos will be an area where we will see more demand. At the moment more than demand, it is the supply chain issue that has been hurting the sales of a lot of car companies and auto companies. However I think this is a sector that will get some more attention this year.”

  • Market Watch: Aditya Khemka, Fund Manager, InCred AMC 

    On Torrent Pharmaceuticals

    Torrent Pharma or, the US generic business per se is extremely unpredictable, it is an unbranded commodity market and we have always stayed away from that space, we are extremely underweight that space and it becomes very, very difficult to predict revenues or profitability of that space for any given company, let alone Torrent Pharma. So, what we believe is that investors are best served to stay away from companies that focus on the US a lot, because the US is just very, very unpredictable as a pharmaceutical market, and especially for generics and then there is price erosion, there is cost pressures, input costs have gone up. So companies focused on the Indian pharma market will be able to pass on the input cost because they have brands and they can take price increases, but companies focused on the US market may not be able to do so, there are no brands, there is no differentiation in the product. So, Torrent Pharma or, anybody else US market will be a tough market to operate in, even in the coming year and we will stay away from names that are highly focused on the US markets.

  • Colgate Palmolive India: Should investors buy, sell, or hold after Q3 results?

    Colgate Palmolive India shares rose as much as 1 percent on Friday after the company reported a 1.6 percent surge in net profit in its third-quarter earnings. As per an exchange filing, the company's net profit after tax was Rs 252 crore as against the net profit of Rs 248 crore for the same quarter in the previous fiscal. Colgate's net sales grew over 4 percent for the quarter under consideration to Rs 1,271 crore. Its net sales for the nine months ended December 31 came in at Rs 3,773 crore, rising over 7 percent over the same period of the previous fiscal.

  • Deepak Fertilizers Q3 revenue up 35.1% at Rs 1,955.7 crore

    Net profit at Rs 179.6 crore against Rs 87.6 crore (YoY). Revenue was up 35.1% at Rs 1,955.7 crore against Rs 1,447.1 crore (YoY). EBITDA jumped 62.4% at Rs 352 crore against Rs 216.8 crore (YoY). EBITDA margin at 18% against 15% (YoY). Tax expense at Rs 86.5 crore against Rs 41.1 crore (YoY).

  • NIIT Q3 net profit up 32.9% at Rs 55 crore

    Net profit was up 32.9% at Rs 55 crore against Rs 41.4 crore (YoY). Revenue jumped 51.4% at Rs 383.6 crore against Rs 253.4 crore (YoY). EBITDA rose 75.3% at Rs 81.7 crore against Rs 46.6 crore (YoY). EBITDA margin at 21.3% against 18.4% (YoY).

  • Tata Sons Senior Vice President Nipun Aggarwal steering Air India Management Committee, according to sources

  • Zomato sets up non-banking finance company; acquires stake in UrbanPiper, AdOnMo

    Food delivery company Zomato has set up a wholly-owned subsidiary of the company as a non-banking finance company and bought a minor stake in AdOnMo, the advertising-tech firm and UrbanPiper Tech, a B2B software platform. (Read More here)

  • NARCL to acquire, aggregate identified NPA accounts; IDRCL will handle debt resolution process: Dinesh Khara

    The proposed Bad Bank had received all necessary approvals to start operations, said Dinesh Khara, the chairman of country's largest lender SBI. Public sector Banks will have a majority stake in the National Asset Reconstruction Company Limited (NARCL) while private banks will have a significant stake in India Debt Resolution Company Limited (IDRCL), Khara said. As per the operational structure, NARCL will acquire and aggregate identified NPA accounts from banks while IDRCL will handle the debt resolution process.

    According to the plan, banks will receive 15 percent of the value of assets being transferred upfront in cash; 85 percent will be given as security receipts (SRs).

  • Shares of ONGC jump 5%

    A surge in crude oil prices lifted explorer Oil and Natural Gas Corp by 5% to its highest in more than two-and-a-half years. ONGC was the top gainer in the blue-chip Nifty 50 index.

  • Dr Reddy's Q3 Earnings: Net profit at Rs 706.5 crore, misses Street estimates

    Dr Reddy's Laboratories (DRL) on Friday reported a net profit of Rs 706.5 crore for the quarter ended December, missing Street estimates. The pharmaceutical major had reported a net profit of Rs 19.8 crore for the corresponding period a year ago.

    Its revenue increased eight percent on a year-on-year basis to Rs 5,319.7 crore, according to a regulatory filing.

  • Credit Suisse maintains 'underperform' rating on RBL Bank, cuts target price

    Credit Suisse maintained an 'underperform' rating on RBL Bank after the private sector lender reported its financial results for the October-December period. The brokerage reduced its target for the RBL Bank stock to Rs 135 from Rs 180. RBL Bank shares gave up initial gains on Friday to decline as much as 3.7 percent to Rs 147.6 on BSE.

  • Eris Lifescience Q3 net profit up 12% at Rs 101 crore

    Eris Lifescience consolidated net profit was up 11.7% at Rs 101 crore against Rs 90.1 crore (YoY). Consolidated revenue rose 7% at Rs 332.2 crore against Rs 310.4 crore (YoY). EBITDA was up 13.8% at Rs 121.7 crore against Rs 107 crore (YoY). Margin at 36.63% against 34.4% (YoY).

  • Relief for SpiceJet as Supreme Court stays Madras High Court order

    The Supreme Court on Friday granted three weeks to SpiceJet to resolve its financial dispute with Swiss firm Credit Suisse AG. (Read more)

    At 2 pm, the SpiceJet stock was up 6.6 percent at Rs 64.5 apiece on BSE. 

  • Govt likely to shortly issue order appointing the new Chief Eco Adviser 

    V Anantha Nageswaran said to be the front runner for the Chief Economic Adviser’s position, sources say.

Stock Market Highlights
: Indian equity benchmarks Sensex and Nifty50 ended a volatile session lower on Friday.  The Nifty began the February F&O series, a day after ending the January series with a loss of 93.8 points. Losses in financial and select auto stocks pulled the headline indices lower, though gains in IT and consumer shares lent some support. Broader markets strengthened, aiding investor sentiment, with the Nifty Midcap 100 and Nifty Smallcap 100 indices rising 1.5 percent and one percent respectively. Broader markets also strengthened, with the Nifty Midcap 100 and Nifty Smallcap 100 indices up nearly two percent each in early deals. Investors awaited more of quarterly numbers from India Inc for cues.