The domestic equity barometers ended with deep cuts after a weak session on Tuesday. After hitting the day's low at 17,119.40, the Nifty managed to pare some losses as it closed above the 17,200 mark. Shares across sectors declined with private banks, financials, and FMCG shares losing the most.
As per provisional closing data, the barometer index, the S&P BSE Sensex, dropped 1023.63 points or 1.75% to 57,621.19. The Nifty 50 index fell 302.70 points or 1.73% to 17,213.60.
The NSE's India VIX, a gauge of market's expectation of volatility over the near term, jumped 8.01% to 20.41.
HDFC Bank (down 3.47%), HDFC (down 3.06%) and ICICI Bank (down 2.32%) led the equity benchmarks lower.
In the broader market, the S&P BSE Mid-Cap index lost 1.25% while the S&P BSE Small-Cap index fell 0.75%.
Sellers outpaced buyers. On the BSE, 1,420 shares rose and 2,093 shares fell. A total of 137 shares were unchanged.
Primary Market:
The initial public offer (IPO) of Vedant Fashions (Manyavar) received bids for 50,64,657 shares as against 2,54,55,388 shares on offer, according to stock exchange data at 15:30 IST on Monday (7 February 2022). The issue was subscribed 20%.
The issue opened for bidding on 4 January 2022 and it will close on 8 February 2022. The price band of the IPO is fixed at Rs 824-866. An investor can bid for a minimum of 17 equity shares and in multiples thereof.
Buzzing Index:
The Nifty Private Bank index fell 2.37% to 19,126.20, extending decline for third consecutive session. The index has lost 3.86% in three session.
Kotak Mahindra Bank (down 2.96%), IndusInd Bank (down 2.41%), RBL Bank (down 2.27%), IDFC First Bank (down 1.67%) and Axis Bank (down 1.12%) declined while Yes Bank (up 2.19%), Federal Bank (up 0.61%) and Bandhan Bank (up 0.42%) advanced.
Stocks in Spotlight:
SBI gained 0.38% to Rs 532.20. The banking major reported 62.27% rise in net profit to Rs 8,432 crore on 4.41% rise in interest income to Rs 69,678 crore in Q3 FY22 over Q3 F21.
Tata Steel advanced 0.35% to Rs 1180.25. The steel major reported consolidated net profit of Rs 9,598 crore in Q3 FY22 from net profit of Rs 4,011 crore in Q3 FY21. Turnover rose to Rs 60,783 crore from Rs 41,935 crore.
Shree Cement rose 0.70% to Rs 24876.60. The cement major reported a 23.6% fall in consolidated net profit to Rs 482.70 crore in Q3 FY22 from Rs 631.58 crore posted in Q3 FY21. Consolidated net sales grew 2.2% to Rs 3,637.11 crore in Q3 FY22 over Q3 FY21.
Bank of Baroda jumped 9.10% to Rs 116.30. The bank reported 107.17% rise in net profit to Rs 2197 crore on 14.38% rise in net interest income to Rs 8552 crore in Q3 FY22 over Q3 F21.
Siemens fell 0.30% to Rs 2414.15. Revenue from continuing operations in Q1 FY22 was Rs 3,197 crore, a 11.8 % increase over the same quarter in the preceding year. Profit after Tax from continuing operations was Rs. 245 crore, decreased by 6.5% over the same period last year.
One 97 Communications (Paytm) added 0.61% to Rs 959.05. Paytm reported a consolidated net loss of Rs 778.50 crore in Q3 December 2021, higher than net loss of Rs 535.50 crore in Q3 December 2020. Consolidated net sales jumped 88.6% to Rs 1,456.10 crore in Q3 December 2021 over Rs 772 crore in Q3 December 2020.
InterGlobe Aviation (IndiGo) jumped 9.82% to Rs 2168.20 after the low-cost air carrier reported consolidated net profit of Rs 129.79 crore in Q3 December 2021, compared with net loss of Rs 620.14 crore in Q3 December 2020. Revenue from operations was at Rs 9294.8 crore for the quarter, an increase of 89.3% against a 50.3% increase in capacity compared to same period last year.
CreditAccess Grameen jumped 10.70% to Rs 725.80 after the company reported a standalone net profit of Rs 129.2 crore in Q3 FY22 as against a net loss of Rs 71.6 crore in Q3 FY21. Net Interest Income increased by 40.4% YoY to Rs 349.4 crore during the quarter.
Lakshmi Machine Works gained 3.05% to Rs 11165. The company reported a 93.5% jump in consolidated net profit to Rs 64.37 crore in Q3 FY22 from Rs 33.26 crore posted in Q3 FY21. Consolidated net sales grew by 90.5% to Rs 911.7 crore in Q3 FY22 from Rs 478.56 crore posted in the same quarter last year.
CMS Info Systems gained 2.84% to Rs 280.50 after the company reported a 48% increase in consolidated net profit to Rs 60.24 crore in Q3 FY22 from Rs 40.7 crore posted in Q3 FY21. Consolidated net sales grew by 21.4% to Rs 403.65 crore in Q3 FY22.
Affle (India) advanced 3.12% to Rs 1298.95 after the company's consolidated net profit surged 102.58% to Rs 62.07 crore on 125.53% increase in net revenue from operations to Rs 339.40 crore in Q3 FY22 over Q3 FY21.
Clean Science and Technology shed 0.85% to Rs 2313.15. The company reported an 18% jump in consolidated net profit to Rs 57.9 crore in Q3 FY22 from Rs 49 crore posted in Q3 FY21. Consolidated revenue from operations grew by 44% to Rs 180.8 crore in Q3 FY22 as compared to Rs 125.42 posted in Q3 FY21.
Global Markets:
Shares in Europe and Asia traded mixed on Monday as investors continued to consider last week's jobs data from the U.S. and central bank decisions in Europe.
Last week, investors in the region digested the latest decision from the European Central Bank, which kept interest rates unchanged in spite of record inflation levels across the euro zone. The Bank of England, meanwhile, hiked rates in its reportedly first back-to-back interest rate rise since 2004.
Stunningly strong US jobs data soothed concerns about the global economy but also added to the risk of an aggressive tightening by the Federal Reserve.
US employers added a burst of 467,000 jobs in January despite a wave of omicron inflections that sickened millions of workers, kept many consumers at home and left businesses from restaurants to manufacturers short-staffed. The Labor Department's report on Friday also showed the unemployment rate ticked up from 3.9% to 4%. Estimated job growth for December was also revised much higher, from 199,000 to 510,000.
Investors continued to monitor the situation around Ukraine, with White House national security adviser Jake Sullivan reportedly warning Sunday that a Russian invasion could be imminent.
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