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Indices hit day’s high; banks shares in demand.

Equity indices extended early gains and hit fresh intraday high in morning trade, led by banks shares. The Bank Nifty hit a record high. The barometer index, the S&P BSE Sensex, jumped 1054.66 points or 2.17% at 49,655.27. The Nifty 50 index was up 323.40 points or 2.26% at 14,604.65.
In broader market, the S&P BSE Mid-Cap index was up 1.32% while the S&P BSE Small-Cap index was up 1.18%.

The market breadth, indicating the overall health of the market, was strong. On the BSE, 1628 shares rose and 816 shares fell. A total of 154 shares were unchanged.

Results Today:

HDFC (up 4.27%) will announce its quarterly result today.

Ajanta Pharma (rose 0.68%), Balrampur Chini Mills (up 1.53%), Carborundum Universal (up 0.29%), Dhampur Sugar Mills (up 3.36%), Dixon Technologies (up 1.82%), Escorts (up 3.6%), IIFL Wealth Management (up 2.99%), Intellect Design Arena (up 3.63%), NOCIL (up 0.78%), PI Industries (down 0.02%), Tata Consumer Products (down 0.28%) and Vinati Organics (up 1.33%) will also announce quarterly result today.

Buzzing Index:

The Nifty Bank index jumped 4.28% to 34,506.30, extending its winning run to fourth consecutive trading session. The index soared 14% in four trading days. The Nifty Bank index hit a record high of 34,652.50 in intraday today.

HDFC Bank (up 6.45%), Bandhan Bank (up 4.84%), Federal Bank (up 4.47%), Axis Bank (up 4.41%), SBI (up 4.23%), RBL Bank (up 4.18%) and Kotak Mahindra Bank (up 3.24%) were top gainers in Bank Nifty.

January Auto Sales:

Hero MotoCorp rose 0.12%. The two wheeler maker sold 485,889 units of motorcycles and scooters in January 2021, lower than 501,622 units sold in January 2020. Domestic sales were at 4,67,776 units in January 2021 as against 4,88,069 units in January last year. Exports rose to 18,113 units as compared to 13,553 units.

Eicher Motors gained 1.51%. The company’s total Royal Enfield sales jumped 8% to 68,887 units in January 2021 from 63,520 units in January 2020. The sales of models with engine capacity up to 350cc jumped 9% to 64,248 units, the sales of models with engine capacity exceeding 350cc rose 7% to 4,639 units in January 2021 over January 2020. Royal Enfield’s exports soared 103% to 4,515 units in January 2021 as against 2,228 units in January 2020.

Bajaj Auto rose 2.30% to Rs 4,208.75 after the two-wheeler maker’s total sales rose 8% to 4,25,199 units in January 2021 from 3,94,473 units in January 2020. While total domestic sales declined 11% to 1,70,757 units, total exports improved 26% to 2,54,442 units in January 2021 over January 2020. During the month, the company’s total two-wheeler sales jumped 16% year-on-year (YoY) to 3,84,936 units. Total commercial vehicles sales declined 35% year-on-year to 40,263 units in December 2020.

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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