Market falls 5% on profit booking ahead of Budget 2021
On the sectoral front, Nifty IT, Auto and Energy lost more than 6 percent each and Infra sector lost 5 percent. January 30, 2021 / 09:04 AM IST Market witnessed continuous selling throughout the truncated week ended January 29 amid volatility due to monthly expiry, FII selling and weak global markets. Meanwhile, market participants also booked profit ahead of the Union Budget to be presented on February 1. Last week, BSE Sensex slipped 2,592.77 points or 5.3 percent to end at 46,285.77 and while the Nifty50 fell 737.3 points or 5 percent to finish at 13,634.60 levels. The BSE Large-cap Index slipped 5 percent dragged by the Piramal Enterprises, Maruti Suzuki India, Reliance Industries, Tata Motors and Dr Reddy’s Laboratories, while Grasim Industries, Axis Bank, Cipla and Sun Pharmaceutical Industries ended with marginal gains. (Disclaimer: Reliance Industries Ltd. is the sole beneficiary of Independent Medi
Technical View: Nifty forms bearish candle, all eyes on budget
Traders should remain neutral on the budget day without a directional bet and it would be prudent to wait for more clarity. Sunil Shankar Matkar January 29, 2021 / 05:40 PM IST
The Nifty 50 started off the February series on a weak note and fell for the sixth consecutive session on January 29, as traders remained cautious in the penultimate session ahead of the budget that will be presented on February 1. Auto, FMCG, IT, metal and pharma stocks pulled the market down.
After opening higher at 13,946.60, the Nifty hit an intraday high of 13,966.85 in the early trade but wiped out those gains and remained volatile for the rest of the day. The index settled at 13,634.60, down 182.90 points, or 1.32 percent, and slipped 7.6 percent from the record high levels in six straight sessions.
Gainers & Losers: 10 stocks that moved the most on January 28
Except Nifty Bank, other sectoral indices ended in the red. BSE midcap and smallcap indices shed 0.4 percent each. January 28, 2021 / 05:02 PM IST The benchmark indices ended lower for the fifth consecutive session on January 28, with selling seen in the IT, auto and FMCG names. At close, the Sensex was down 535.57 points, or 1.13%, at 46,874.36, and the Nifty was down 150 points, or 1.07%, at 13,817.50. Maruti Suzuki | CMP: Rs 7,600 | The stock was down over 3 percent after the automaker reported a 24.1 percent year-on-year (YoY) rise in Q3FY21 standalone net profit at Rs 1,941.4 crore. In the corresponding quarter of the previous financial year, profit numbers were Rs 1,564.8 crore. The profit number beat Street expectations as a CNBC-TV18 poll had estimated the number to the tune of Rs 1,833 crore. The company reported a 13.3 percent YoY rise in Q3 standalone revenue at Rs 23,457.8 crore against Rs 20,70
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Stocks in the news | RIL, Yes Bank, Tata Motors, Oberoi Realty, Gland Pharma, JM Financial, IIFL Finance
Birla Corp, UltraTech Cement, Supreme Industries, Mahindra Lifespace, Piramal Enterprises, Grasim Industries, Crompton Greaves Consumer, Yes Bank, JSW Steel, Polycab India, Cadila Healthcare, Tata Power, HDFC Life Insurance are also among the stocks in focus today. Here are some of the stocks in the news today. Reliance Industries | The company reported higher consolidated profit at Rs 14,894 crore in Q3FY21 against Rs 10,602 crore in Q2FY21, revenue increased to Rs 1,23,997 crore from Rs 1,16,195 crore QoQ. (Disclaimer: Reliance Industries Ltd is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd. which publishes moneycontrol.com)