Markets at 10 AM
LIVE market updates: Benchmark indices were oscillating between gains and losses in morning deals as lack of fresh triggers on Dalal Street kept investors on the sidelines.
The BSE Sensex index was down 73 points, or 0.12 per cent, at 60,473 levels at 10 AM while the Nifty50 index held the 18,050-mark. Both the indices hit an intra-day high of 60,670 and 18,113 levels, respectively, earlier today.
16 of the 30 index constituents on the Sensex and 24 of the 50 index constituents on the Nifty were in the red.
Among sectoral trends, bank, media, FMCG, and metal indices were under pressure, down up to 0.5 per cent. On the upside, pharma and PSU bank indices were up 0.7 per cent each.
In the currency market, rupee opened 12 paise higher at 73.9 per US dollar relative to Monday’s close of 74.02/$. This is the rupee’s highest level since September 28.
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Opening Bell
LIVE market updates: Frontline indices started flat, with a negative bias, on Tuesday amid profit booking in financial, metals, and FMCG space. In early deals, the 30-pack Sensex index was at 60,531 levels, down 14 points or 0.02 per cent.
It’s NSE counterpart, Nifty50, meanwhile, was unchanged at 18,068 levels.
Divi’s Labs, ONGC, M&M, Hindalco, and Tata Motors were the top performing stocks on the 50-share index while Britannia, HDFC, HDFC Bank, Infosys, and Power Grid were the top laggards.
On the contrary, the MidCap and SmallCap indices on the BSE were up 0.6 per cent and 0.4 per cent, respectively.
Among individual stocks, TVS Motor Company surged 10 per cent in the mid-cap space amid reports that the company is evaluating the possibility of a fund raising exercise for its Electric Vehicle business.
Real estate player Sobha, too, jumped over 6 per cent after the company reported a nearly three-fold rise in its net profit to Rs 48.3 crore for the September-ended quarter, compared to Rs 16.2 crore in the corresponding year-ago period. The Bengaluru-based firm’s total income also jumped to ₹832.3 crore in the September quarter, from ₹545.9 crore during the period.
On the flipside, Ujjivan Small Finance Bank slumped 7 per cent after it reported a net loss of Rs 274 crore for the quarter ended September 30, owing to poor asset quality and higher provisions. The lender had logged a net loss of Rs 233 crore in the previous quarter. It, however, had reported a net profit of Rs 96 crore a year ago.
Overall, the market breadth was in the favour of the buyers with over 1,700 stocks advancing on the BSE compared with 740 stocks that declined on the BSE.
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Pre-open session
LIVE market updates: Contrary to indications given by SGX Nifty, equity markets were mixed in the pre-open session. At 9:06 AM, the BSE Sensex was up 102 points at 60,648 levels while the Nifty50 was down 7 points at 18,061 level.
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LIVE market updates: Stock-specific action, primary market activity, and global trends will guide the sentiment on Dalal Street on Tuesday.
Besides, foreign fund flows will be closely tracked as exchanges have decided to introduce T+1 settlement in a phased manner, starting from February 25, 2021, for the bottom 100 stocks only.
At 8:15 AM, SGX Nifty was down 8 pointd at 18,129.5 levels, indicating a flat start for our markets.
Primary Market Update
The One97 Communications’ Rs 18,300-crore IPO, the parent company of Paytm, was subscribed 18 per cent at the end of Day 1 of the issue.
On Tuesday, Sapphire Foods IPO, the owners of popular outlets such as KFC and Pizza Hut, will open for subscription in the price band of Rs 1,120 to Rs 1,180.
Global cues
The US markets ended higher on Monday as investors’ cheered passage of the Infrastructure bill, even as Tesla shares weighed following a Twitter poll that said Elon Musk should consider selling 10 per cent stake in the company. The Dow Jones moved up 0.3 per cent, while the S&P 500 Nasdaq added 0.1 per cent
each.
This morning in Asia, the Nikkei was up 0.2 per cent, while the Hang Seng and Shanghai Composite indices added 0.7 per cent and 0.4 per cent, respectively. Straits Times too edged 0.1 per cent higher, and Taiwan Weighted index jumped 0.9 per cent. The S&P/ASX 200 and Kospi, however, were a wee bit in red.
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