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Market drops in early trade


Key benchmark indices are trading lower in early trade on selling pressure in index pivotals. At 9:25 IST, the barometer index, the S&P BSE Sensex, was down 228.47 points or 0.47% at 48,806.20. The Nifty 50 index was down 70.15 points or 0.49% at 14,363.55.
The S&P BSE Mid-Cap index was down 1.49%. The S&P BSE Small-Cap index was down 0.89%.
The market breadth, indicating the overall health of the market, is weak. On the BSE, 825 shares rose and 1315 shares fell. A total of 109 shares were unchanged.
Stocks in news:
HDFC Bank rose 1.17%. HDFC Bank reported 18.1% rise in net profit to Rs 8,758.29 crore on 4.1% increase in total income to Rs 37,522.92 crore in Q3 FY21 over Q3 FY20. Net interest income for the quarter ended 31 December 2020 grew by 15.1% to 16,317.6 crore from 14,172.9 crore for the quarter ended 31 December 2019, driven by advances growth of 15.6%, and a core net interest margin for the quarter of 4.2%. ....

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HDFC Bank, Dr. Reddy's Labs, Wipro in spotlight


HDFC Bank reported 18.1% rise in net profit to Rs 8,758.29 crore on 4.1% increase in total income to Rs 37,522.92 crore in Q3 FY21 over Q3 FY20. Net interest income for the quarter ended 31 December 2020 grew by 15.1% to 16,317.6 crore from 14,172.9 crore for the quarter ended 31 December 2019, driven by advances growth of 15.6%, and a core net interest margin for the quarter of 4.2%.
HDFC Bank said that the impact of COVID-19, including changes in customer behaviour and pandemic fears, as well as restrictions on business and individual activities, has led to significant volatility in global and Indian financial markets and a significant decrease in global and local economic activity, which may persist. While there has been a gradual pickup in economic activity since the easing of lockdown measures, the continued slowdown led to a decrease in loan originations, the sale of third-party products, the use of credit and debit cards by customers and the efficiency in collection ef ....

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