By Mr. Aamar Deo Singh, Head Advisory, Angel Broking Ltd
Indian indices ended flat in today’s trading session with buying witnessed in IT, energy, and RIL stocks.
Nifty, which remained above the 11K mark, went down by 0.19% or 21.30 points and closed at 11,194.15, while S&P BSE Sensex tripped down by 0.03% or 11.57 points and closed at 38,128.90.
Around 1557 shares declined, 1055 shares advanced, while 140 shares remained unchanged.
RIL (4.40%), HCL Tech (4.69%), Tech Mahindra (3.55%), Sun Pharma (2.10%), and Infosys (1.46%) were among top Nifty gainers, while Zee Entertainment (4.84%), Hindalco (3.46%), Axis Bank (3.23%), SBI (3.18%), and GAIL India (2.64%) were among top Nifty losers.
All sectoral indices except IT and Energy traded lower. BSE Midcap went down by 0.59% while BSE Smallcap declined by 0.23%.
The company reported a decline of 67% in its net profits for the first quarter of FY21 while the revenue of the company was down by 42.7%. As a result, stocks of the company tripped down by 0.63% and traded at Rs.1,717.
Reliance Industries Limited
The combined market capitalization of the company’s partly paid shares and fully paid shares has successfully crossed the 14 lakh crore, making it the first Indian company to cross this mark. The stocks of the company went up by 4.4% and traded at Rs.2,148.40 in today’s trading session.
PNB Housing Finance
Stocks of PNB Housing Finance rose by 5% and traded higher at Rs.220.60 for the second consecutive day despite a fall in the company’s consolidated net profit. The company reported a decline of 9.5% in its consolidated profit for the first quarter of FY21.
The company announced an investment of Rs. 84 crore in Ather Energy for a shareholding of 34.58%. However, the stocks of the company went down by 1.16% and traded at Rs.2,739.00 in today’s trading session.
Stocks of Biocon Limited went down by 3.70% and traded at Rs.414.4 after the company reported a decline of 26.30% in its consolidated net profit for the first quarter of the FY21. The profits of the company went down on account of increased R&D spending and lower profitability in the Research Service Segment.
AU Small Finance Bank Limited
Stocks of the AU Small Finance Bank Limited went up by 5% and traded at Rs. 791.80 after the bank reported a 5.5% rise in its net profit for the first quarter of the FY21.
Indian rupee witnessed marginal losses in today’s trading session and ended at Rs.74.82 against the US Dollar.
Gold remained steady in today’s trading session. The yellow metal is en route to its best week as investors are looking for options to hedge against inflation amid the rising US-China tensions.
Global Markets Traded Lower
The rising number of coronavirus cases and further anticipations of deep economic recession resulted in negative global market trends. Nasdaq declined by 2.29%, Nikkei 225 went down by 0.58%, and Hang Seng went down by 2.21%. European markets too traded lower as FTSE 100 went down by 1.10% while FTSE MIB declined by 1.38%.
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