Home / Markets / Stock Markets /  Indian Indices End Flat Amid Volatility; Asian Paints, Axis Bank, HUL Top Losers

Indian share markets witnessed volatile trading activity throughout the day today and ended on a flat note.

Benchmark indices snapped their four-day winning run and ended lower amid weak global cues.

At the closing bell, the BSE Sensex stood lower by 12 points (down 0.1%).

Meanwhile, the NSE Nifty closed lower by 2 points (down 0.1%). Tata Consumer Products and IOC were among the top gainers today.

Asian Paints and Axis Bank, on the other hand, were among the top losers today.

The SGX Nifty was trading at 18,282, down by 19 points, at the time of writing.

The BSE MidCap index and the BSE SmallCap index ended up by 0.2% and 0.5%, respectively.

Sectoral indices ended on a mixed note with stocks in the telecom sector and FMCG sector witnessing most of the selling pressure.

Engineering and realty stocks, on the other hand, witnessed buying interest.

Shares of Jamna Auto and Trident hit their respective 52-week highs today.

Asian stock markets ended on a negative note today.

The Hang Seng and the Shanghai Composite ended down by 0.2% and 1%, respectively. The Nikkei ended down by 1.3% in today’s session.

US stock futures are trading on a positive note today with the Dow Futures trading up by 89 points.

The rupee is trading at 74.15 against the US$.

Gold prices for the latest contract on MCX are trading up by 0.4% at 47,915 per 10 grams.

In news from the auto ancillaries sector, Motherson Sumi Systems was among the top buzzing stocks today.

Shares of Motherson Sumi Systems plummeted as much as 22% on the BSE in today’s trading session as the stock started trading ex-domestic wiring harness (DWH) business ahead of the record date which is fixed on Monday 17 January 2021.

The auto parts maker will determine shareholders for allocation of additional shares of DWH business in the entitlement ratio of 1:1 on its record date.

Samvardhana Motherson International (SAMIL) will be the new name for existing listed entity after the de-merger of DWH business and merger with parent entity.

The merger with the promoter entity is expected to take place on 24 January. MSWIL's listing is expected in mid-March, subject to regulatory approvals.

At its analyst call, management re-emphasized expectations of better content per vehicle, helped by increasing electric vehicle (EV) penetration, in both the entities - DWH and SAMIL

The auto parts maker will determine shareholders for allocation of additional shares of DWH business in the entitlement ratio of 1:1 on its record date.

Going ahead, India’s largest automotive manufacturing company Motherson Sumi Systems is looking to expand business in four key non-automotive areas. These are aerospace, logistics, technology and industrial solutions and health & medical.

Motherson Sumi share price ended the day down by 21% on the BSE.

Moving on to news from the food & tobacco sector…

Jubilant FoodWorks Gallops on Stock Split Plan

Jubilant FoodWorks rose 2.9% to 4,032 after the company said its board will consider a stock split on 2 February 2022.

The board of Jubilant FoodWorks will also consider December quarter results on 2 February 2022.

On a standalone basis, Jubilant Foodworks' net profit rose 58% to 1.2 bn on 36.7% rise in revenue from operations to 11 bn in the September 2022 quarter over the same quarter last year.

Jubilant Foodworks is India's largest foodservice company. It holds the master franchise rights for three international brands, Domino's Pizza, Dunkin' Donuts and Popeyes addressing three different food market segments.

The company launched its first homegrown brand - Hong's Kitchen in Chinese cuisine segment & has also begun offering brand-owned ready-to-cook range of sauces, gravies and pastes,

'ChefBoss'. The company also entered into the exciting world of Biryanis with the launch of "Ekdum!".

The company currently operates more than 1,435 outlets for Domino's Pizza, Dunkin' Donuts and Hong's Kitchen and is a market leader in pizza segment. The company has more than 30,000 brand ambassadors committed to deliver value to its customers.

Jubilant FoodWorks share price ended the day on a flat note on the BSE.

Speaking of stocks, here's a pattern that if you see, you must sell your position. After all, exits are more important than entries.

In the chart below, we can see the head and shoulder pattern - the stock goes up, makes a high, falls a little bit, goes up to a higher high, does not make a higher low, rallies again, fails to make a new high, and then starts to break down.

View Full Image

This usually happens in a situation where a stock or index has typically been in a bull trend for a while. Spotting this correctly can help you save money.

This article is syndicated from

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