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10 feb (5)

Sensex, Nifty pare losses; FMCG shares correct.

Key equity barometers pared losses after hitting fresh intraday low in mid-afternoon trade. FMCG shares declined for the third session. The Nifty regained 15,000 mark after slipping below that level in intraday trade.

The barometer index, the S&P BSE Sensex, tumbled 255.62 points or 0.50% to 51,073.46. The Nifty 50 index skid 69.80 points or 0.46% to 15,039.50.

The broader market outperformed the benchmark indices. The S&P BSE Mid-Cap index rose 0.41%. The S&P BSE Small-Cap index gained 0.14%.

Sellers outpaced buyers. On the BSE, 1274 shares rose and 1624 shares fell. A total of 157 shares were unchanged.

Numbers to Track:

In the foreign exchange market, the partially convertible rupee appreciated to 72.82 compared with its previous closing of 72.87.

The yield on 10-year benchmark federal paper fell to 6.022% from its previous closing of 6.074%.

MCX Gold futures for 5 April 2021 settlement added 0.28% to Rs 48,082.

The US Dollar index (DXY), which tracks the greenback’s value against a basket of currencies, shed 0.23% to 90.72.

In the commodities market, Brent crude for April 2021 settlement added 2 cents to $61.11 a barrel. The contract added 0.88% or 53 cents to settle at $61.09 in the previous trading session.

Buzzing Index:

The Nifty FMCG index shed 0.58% to 34,033.35, extending decline for third consecutive session. The index has declined 1.76% in three sessions.

United Breweries (down 2.43%), Emami (down 1.9%), ITC (down 1.44%), Procter & Gamble Hygiene (down 1.25%), Varun Beverages (down 1.15%), Britannia Industries (down 1.11%), Nestle India (down 0.95%) and Marico (down 0.92%) edged lower.

Meanwhile, Hindustan Unilever (up 0.46%), Godrej Consumer (up 0.42%) and Tata Consumer Products (up 0.29%) bucked the trend.

Earnings Impact:

Polyplex Corporation jumped 14.03% to Rs 858 after the company posted an 81.4% jump in consolidated net profit to Rs 224.73 crore on a 13.3% rise in net sales to Rs 1237.22 crore in Q3 FY21 over Q3 FY20. Further, the company’s board declared a special interim dividend of Rs 100 per share. Record date for the same has been fixed at 19 February 2021. The dividend yield stands at 13.28% on yesterday’s closing price of Rs 752.45.

Bank of India rose 1.69% to Rs 60.20 after the state-run lender reported 412.39% surge in net profit to Rs 541 crore in Q3 FY21 from Rs 106 crore in Q3 FY20. Net Interest Income (NII) declined by 9.19% to Rs 3,740 crore in the third quarter from Rs 4,118 crore in the same period last year. Net Interest Margin (NIM) was at 2.81% as on 31 December 2020 as against 3.45% as on 31 December 2019.

On the asset quality front, the ratio of gross NPAs (GNPA) to gross advances stood at 13.25% as on 31 December 2020 as against 13.79% as on 30 September 2020 and 16.30% as on 31 December 2019. The ratio of net NPAs (NNPA) to net advances stood at 2.46% as on 31 December 2020 as against 2.89% as on 30 September 2020 and 5.97% as on 31 December 2019.

TTK Prestige surged 14.87% to Rs 6800 after the company’s consolidated net profit increased by 37.2% to Rs 83.84 crore on a 23.6% rise in revenue from operations to Rs 725.63 crore in Q3 FY21 over Q3 FY20.

Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance.

CapitalStars Investment Adviser: SEBI Registration Number: INA000001647.

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