Latest News

Pre-Session
15 Jan 2021, 8:21 AM
Weak opening likely

SGX Nifty:

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 60 points at the opening bell.

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.

Global markets:

Overseas, Asian stocks were mixed on Friday as investors regionally reacted to the release of U.S. President-elect Joe Bidens $1.9 trillion coronavirus rescue package.

U.S. President-elect Joe Biden on Thursday revealed details of a $1.9 trillion coronavirus rescue package. Bidens 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 Trumps 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 & Johnsons 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.

Domestic markets:

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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Mid-Session
15 Jan 2021, 9:32 AM
Market nudges lower in early trade; breadth positive

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 IBMs 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 companys 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 companys 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 Bidens $1.9 trillion coronavirus rescue package.

U.S. President-elect Joe Biden on Thursday revealed details of a $1.9 trillion coronavirus rescue package. Bidens 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 Trumps 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 & Johnsons 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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Mid-Session
15 Jan 2021, 10:31 AM
Sensex, Nifty hit days low, breadth negative

The key indices reversed early gains and hit the days 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 pandemics 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 firms 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 companys 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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Mid-Session
15 Jan 2021, 11:30 AM
Benchmarks extend losses; breadth turns weak

The equity benchmarks further extended losses and hit the days 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. Reddys Labs (down 1.28%), Divis 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 Bidens $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 pandemics 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 Trumps 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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Mid-Session
15 Jan 2021, 12:22 PM
Barometers pare losses; banks correct

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 NSEs India VIX, a gauge of markets 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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Mid-Session
15 Jan 2021, 1:32 PM
Nifty regains 14,500 mark; breadth remains weak

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 firms 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 companys 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 companys 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 Bidens $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 countrys 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 Trumps 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 pandemics 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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Mid-Session
15 Jan 2021, 2:22 PM
Shares tumble on broader selling; IT, PSU banks drop

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 greenbacks 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 firms 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 companys 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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Post-Session
15 Jan 2021, 4:00 PM
Quick Wrap: Nifty IT Index declines 2.24%, NIFTY Tumbles 1.11%
Nifty IT index ended down 2.24% at 26362.8 today. The index is up 15.00% over last one month. Among the constituents, Tech Mahindra Ltd slipped 4.30%, HCL Technologies Ltd fell 3.69% and Coforge Ltd shed 3.52%. The Nifty IT index is up 61.00% over last one year compared to the 16.82% surge in benchmark Nifty 50 index. In other indices, Nifty PSU Bank index is down 2.06% and Nifty PSE index has slid 1.99% on the day. In broad markets, the Nifty 50 has declined 1.11% to close at 14433.7 while the SENSEX is down 1.11% to close at 49034.67 today.

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Post-Session
15 Jan 2021, 4:56 PM
Sensex tanks 549 pts, Nifty closes below 14,450 mark; IT shares drag

Domestic equity benchmarks declined sharply on Friday, led by broader selling pressure. IT, pharma and PSU banks shares tumbled. Rising coronavirus cases across US, Europe and China weighed on investors sentiment. Global cues were negative as the $1.9 trillion American Rescue Plan was countered by weak job data in the US.

The barometer index, the S&P BSE Sensex, dropped 549.49 points or 1.11% to 49,034.67. The Nifty 50 index lost 161.90 points or 1.11% at 14,433.70.

ONGC (down 3.48%), HDFC (down 1.95%), ICICI Bank (down 1.84%) and Reliance Industries (down 1.17%) were major drags.

In the broader market, the S&P BSE Mid-Cap index fell 1.25% and the S&P BSE Small-Cap index skid 1.06%.

Sellers outpaced buyers. On the BSE, 1080 shares rose and 1946 shares fell. A total of 137 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 depreciated to 73.07 compared with its previous closing of 73.0450.

The yield on 10-year benchmark federal paper rose to 5.984% as compared to its previous close of 5.924%.

MCX Gold futures for 5 February 2021 settlement rose 0.02% to Rs 49,232.

The US Dollar index (DXY), which tracks the greenbacks value against a basket of currencies, added 0.11% to 90.34.

In the commodities market, Brent crude for March 2021 settlement lost 85 cents to $55.57 a barrel. The contract gained 0.64% or 36 cents to settle at $56.42 in the previous trading session.

Global Markets:

European shares declined while Asian shares ended 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 Bidens $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 countrys 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 Trumps 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 pandemics 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. The Labor Departments weekly jobless report showed the number of Americans filing first-time claims for unemployment benefits increased more than expected last week, underscoring the impact of a resurgence in COVID-19 infections.

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.

Buzzing Indian Segment:

The Nifty IT index fell 2.24% to 26,362.80. The index has fallen 2.38% in two sessions.

Tech Mahindra (down 3.95%), Coforge (down 3.72%), Wipro (down 3.63%), Info Edge (India) (down 2.79%), Mindtree (down 2.68%), Infosys (down 2.11%), Mphasis (down 1.82%) and TCS (down 0.64%) declined.

Larsen & Toubro Infotech (LTI) fell 2.47%. 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 IBMs open hybrid cloud platform built on Red Hat OpenShift.

Earnings Impact:

HCL Technologies slipped 3.73%. The IT firms 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 companys 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 hit an upper circuit of 20% to Rs 859.85. 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.

Den Network rose 2.23% 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 fell 4.21% 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.

PVR added 2.68%. The multiplex chain operator reported a consolidated net loss of Rs 49.2 crore in Q3 December 2020 as compared to a consolidated net profit of Rs 36.3 crore registered in Q3 December 2019. Consolidated revenue from operations slipped 95% to Rs 45.4 crore in Q3 FY21 from Rs 915.7 crore in Q3 FY20.

Stocks in Spotlight:

Bharti Airtel added 3.84% to Rs 602.50. 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.

GAIL (India) declined 3.82%. The board of GAIL (India) approved a proposal to buyback upto 6,97,56,641 equity shares (1.55% equity) at Rs 150 each for an aggregate consideration not exceeding Rs 1046.35 crore.

Dixon Technologies (India) fell 0.28% to Rs 14891.60. The company said that its board will consider stock split on 2 February 2021.

Trident rose 2.29% 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.

Bharat Dynamics (BDL) shed 1.01%. BDL 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.

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