Stock Market HIGHLIGHTS: Sensex ends volatile day 335 pts lower, Nifty sinks below 17,800; Adani group stocks a mixed bag
Stock Market HIGHLIGHTS: Indian equity benchmarks Sensex and Nifty50 ended a volatile session around half a per cent below the flatline on Monday mirroring weakness across global markets, as upbeat macroeconomic data from the US brought back fears of more of steep hikes in benchmark interest rates. IT and metal shares were at the forefront of the overall weakness on Dalal Street.
Here are 10 things to know about the February 6 session:
Losses in IT and metal shares pulled the headline indices lower,
1) The 30-scrip index finished the day down 335 points or 0.6 per cent at 60,506.9, having gyrated in a range of more than 500 points during the session. The Nifty50 lost 89.5 points or 0.5 per cent to settle at 17,764.6, after broadly moving in the 17,650-17,850 band during the session.
2) A total of 34 stocks in the Nifty50 basket finished the day in the red. Divi's, JSW Steel, Hindalco, Tata Steel, Infosys, Adani Enterprises, Kotak Mahindra Bank, Eicehr and HDFC Life were the top laggards, falling around 1-4 per cent.
3) On the other hand, Adani Ports was the top gainer with a rise of 8.6 per cent at the close. IndusInd, Bharat Petroleum, Apollo Hospitals, Hero MotoCOrp, Bajaj Finance, PowerGrid, Cipla and ITC, rising between 0.8 per cent and 2.5 per cent, were some of the other top losers in the 50-scrip universe.
4) Among heavyweights, Infosys, Reliance, ICICI Bank and Kotak Mahindra Bank were the biggest drags on both headline indices. On the other hand, ITC, Bajaj Finance and IndusInd brought the biggest support.
5) Overall market breadth as skewed in favour of the bulls, as 1,900 stocks rose and 1,695 fell at the close on BSE.
6) Adani group stocks saw mixed moves, with Adani Ports soaring 9.5 per cent, and each of Adani Power, Adani Transmission, Adani Green, Adani Total and Adani Wilmar finishing the day locked in the lower circuit. ACC and Ambuja rose around two per cent each.
7) Broader markets strengthened, with the Nifty Midcap 100 and Nifty Smallcap 100 indices rising one per cent and 0.5 per cent respectively.
8) The rupee depreciated by 90 paise or 1.1 per cent to end at 82.73 against the US dollar.
9) Analysts awaited more of corporate financial results from India Inc for domestic cues, after ITC, SBI, Bank of Baroda and Paytm reported their quarterly numbers last week. Tata Steel, Bharti Airtel, Adani Transmission, Adani Green, Ambuja, Adani Ports, Adani Green, Bharti Airtel and Hero MotoCorp are some of the major companies due to report their financial results this week.
10) S&P 500 futures were down 0.9 per cent at the last count, suggesting a gap-down start ahead on Wall Street. European markets began the day in the red amid fears that the current cycle of hikes in benchmark interest rates may last much longer than anticipated earlier. The pan-European Stoxx 600 was down 0.8 per cent, following weakness across Asian markets.
Catch all market action in the stock market, market commentary and analysis, financial results and what to make of them, expert views, stock investing as well as trading ideas and much more here on Zeebiz.com's blog:
Stock Market HIGHLIGHTS: Indian equity benchmarks Sensex and Nifty50 ended a volatile session around half a per cent below the flatline on Monday mirroring weakness across global markets, as upbeat macroeconomic data from the US brought back fears of more of steep hikes in benchmark interest rates. IT and metal shares were at the forefront of the overall weakness on Dalal Street.
Here are 10 things to know about the February 6 session:
Losses in IT and metal shares pulled the headline indices lower,
1) The 30-scrip index finished the day down 335 points or 0.6 per cent at 60,506.9, having gyrated in a range of more than 500 points during the session. The Nifty50 lost 89.5 points or 0.5 per cent to settle at 17,764.6, after broadly moving in the 17,650-17,850 band during the session.
2) A total of 34 stocks in the Nifty50 basket finished the day in the red. Divi's, JSW Steel, Hindalco, Tata Steel, Infosys, Adani Enterprises, Kotak Mahindra Bank, Eicehr and HDFC Life were the top laggards, falling around 1-4 per cent.
3) On the other hand, Adani Ports was the top gainer with a rise of 8.6 per cent at the close. IndusInd, Bharat Petroleum, Apollo Hospitals, Hero MotoCOrp, Bajaj Finance, PowerGrid, Cipla and ITC, rising between 0.8 per cent and 2.5 per cent, were some of the other top losers in the 50-scrip universe.
4) Among heavyweights, Infosys, Reliance, ICICI Bank and Kotak Mahindra Bank were the biggest drags on both headline indices. On the other hand, ITC, Bajaj Finance and IndusInd brought the biggest support.
5) Overall market breadth as skewed in favour of the bulls, as 1,900 stocks rose and 1,695 fell at the close on BSE.
6) Adani group stocks saw mixed moves, with Adani Ports soaring 9.5 per cent, and each of Adani Power, Adani Transmission, Adani Green, Adani Total and Adani Wilmar finishing the day locked in the lower circuit. ACC and Ambuja rose around two per cent each.
7) Broader markets strengthened, with the Nifty Midcap 100 and Nifty Smallcap 100 indices rising one per cent and 0.5 per cent respectively.
8) The rupee depreciated by 90 paise or 1.1 per cent to end at 82.73 against the US dollar.
9) Analysts awaited more of corporate financial results from India Inc for domestic cues, after ITC, SBI, Bank of Baroda and Paytm reported their quarterly numbers last week. Tata Steel, Bharti Airtel, Adani Transmission, Adani Green, Ambuja, Adani Ports, Adani Green, Bharti Airtel and Hero MotoCorp are some of the major companies due to report their financial results this week.
10) S&P 500 futures were down 0.9 per cent at the last count, suggesting a gap-down start ahead on Wall Street. European markets began the day in the red amid fears that the current cycle of hikes in benchmark interest rates may last much longer than anticipated earlier. The pan-European Stoxx 600 was down 0.8 per cent, following weakness across Asian markets.
Catch all market action in the stock market, market commentary and analysis, financial results and what to make of them, expert views, stock investing as well as trading ideas and much more here on Zeebiz.com's blog:
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How Sensex & Nifty50 moved in intraday trade on February 6
Sensex
Nifty50
Stock Market Closing Bell | Sensex down 335 pts at 60,507, Nifty50 below 17,800
The 30-scrip index finishes the volatile day with a loss of 335 points or 0.6 per cent at 60,506.9, having gyrated in a range of more than 500 points around the flatline during the session.
The Nifty50 settles at 17,764.6, down 89.5 points or 0.5 per cent from its previous close.
Adani group stocks a mixed bag
| Stock | Change (%) | CMP |
| Adani Transmission | -10 | 1261.40 |
| Adani Power | -5 | 182.45 |
| Adani Green | -5 | 887.55 |
| Adani Total | -5 | 1544.70 |
| Adani Wilmar | -5 | 380.40 |
| Adani Ent | -1.9 | 1554.00 |
| Ambuja | 0.9 | 377.00 |
| ACC | 2.1 | 1967.00 |
| Adani Ports | 8.5 | 541.50 |
Stock Market Update | Nifty50 74 pts off day's low
The 50-scrip headline is quoting at 17,772.5, down 81.6 points or 0.5 per cent on the day, less than 25 minutes before the closing bell.
So far in intraday trade, the Nifty50 has broadly moved within the 17,650-17,850 band.
Stock Market Update | Sensex down 300 pts as market off day's lows
Here's how the 30-scrip index has moved so far today:
Buy L&T Finance Holdings, sell Indian Hotels futures: Nirmal Bang Securities' Nirav Chheda
Nirav Chheda, AVP Derivatives and Technical Research at Nirmal Bang Securities, shares two trading calls:
- Buy L&T Finance Holdings for a target of Rs 96 with a stop loss at Rs 84
- Sell Indian Hotels futures for a target of Rs 290 with a stop loss at Rs 325
Varun Beverages shares surge after PepsiCo bottling company reports strong results, announces dividend
The Varun Beverages stock gains by as much as Rs 77 or 6.6 per cent to Rs 1,238 apiece on BSE, building on to the day's gains after the earnings announcement.
The company reports a net profit of Rs 74.7 crore for the quarter ended December 2022, as against Rs 16.4 crore for the corresponding period a year ago. Its revenue grows 27.7 per cent on a year-on-year basis to Rs 2,214 crore, according to a regulatory filing.
The firm's board announces a dividend of Re 1 per share.
Varun Beverages' margin improves by 190 basis points on a year-on-year basis to 13.9 per cent.
Buy IndusInd Rs 1,140 call option: Angel One's Sneha Seth
Sneha Seth, Derivative Analyst at Angel One, suggests buying the Rs 1,140 call option of IndusInd for a target of Rs 59 with a stop loss at Rs 17.
ITCTC starts service that enables pasengers to order food using WhatsApp
The stock traders firmly in the green, having gained by as much as Rs 8.5 or 1.3 to Rs 635.6 apiece on BSE earlier in the day.
Suven Pharma profit falls 32.5%, margin plummets by 2,480 bps
The drug maker reports a net profit of Rs 108 crore for the quarter ended December 2022, as against Rs 160 crore for the corresponding period a year ago. Its income shrinks 9.7 per cent to Rs 354 crore, according to a regulatory filing.
Suven Pharma's margin shrinks to 41.5 per cent for the December quarter, from 66.3 per cent for the year-ago period.
The stock briefly traders in the green after the earnings announcement.
STock Market Update | Vodafone Idea, Indus Towers, P&G Health, M&M Financial rise the most among some 280 gainers in BSE 500 universe
On the other hand, Adani Transmission (ADANITRANS) is the worst hit in the space, locked in the lower circuit of 10 per cent. Among other Adani group stocks, Adani Total Gas, Adani Power and Adani Green are also among the top laggards in the basket.
Infosys, Mahindra & Mahindra, Kotak Mahindra Bank, Tata Steel worst hit among top Sensex laggards
Here's what the rest of the 30-scrip pack looks like:
Bank of Baroda Q3 Results | Net profit jumped 75% to Rs 3,853 crore
During market hours on Friday, the state-run lender reported a 31 per cent jump in interest income to Rs 23,540 crore for the quarter ended December 2022 compared with the corresponding period a year ago.
Its asset quality improved. Bank of Baroda's gross bad loans as a percentage of total loans contracted 272 basis points sequentially to 4.53 per cent.
Read more on Bank of Baroda Q3 results
Analysts see up to 39% upside in Bank of Baroda shares from Friday's closing price
Here's what brokerages recommend on Bank of Baroda after the PSU bank's quarterly results:
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