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Sensex snaps 6-day winning run, Nifty holds 15,100; TCS, ITC top drags

The Sensex closed above 51,000 points for the first time while the Nifty smashed past the 15,100-mark on Monday.Premium
The Sensex closed above 51,000 points for the first time while the Nifty smashed past the 15,100-mark on Monday.

  • Equity benchmark Sensex succumbed to the fag-end selloff and settled marginally lower on Tuesday led by losses in TCS, ITC and M&M. After touching a lifetime high of 51,835.86, the 30-share gauge closed at 51,329.08, down 19.69 points or 0.04%.

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09 Feb 2021, 03:39:55 PM IST

Market closing

Equity benchmark Sensex succumbed to the fag-end selloff and closed marginally lower on Tuesday led by losses in TCS, ITC and M&M. After touching a lifetime high of 51,835.86, the 30-share gauge settled at 51,329.08, down 19.69 points or 0.04% from its previous close. Similarly, the broader NSE Nifty closed at 15,109.30, down 6.50 points or 0.04%.

Of 30 Sensex shares, 16 ended in the red.

BSE Sensex
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BSE Sensex
09 Feb 2021, 03:24:51 PM IST

Lupin gets US FDA approval for Tavaborole Topical Solution

Drug firm Lupin Limited (Lupin) has received approval for its Tavaborole Topical Solution, 5%, from the United States Food and Drug Administration, to market a generic equivalent of Kerydin Topical Solution, 5%, of Anacor Pharmaceuticals, Inc.

The product will be manufactured at Lupin's facility in Pithampur, India. Tavaborole Topical Solution, 5%, is an oxaborole antifungal indicated for the topical treatment of onychomycosis of the toenails due to Trichophyton rubrum or Trichophyton mentagrophytes.

09 Feb 2021, 03:09:49 PM IST

Equity MFs continue to see net outflow for seven straight months

Equity mutual funds continued to see net outflows for seven consecutive months. However, net outflow from such schemes slowed down to 12,194.18 crore in January compared with record 13,121 crore in previous month, according to data released Amfi on Tuesday. Total redemptions in equity schemes stood at 33383.65 crore in January while contribution from SIP fell marginally to 8023.39 crore.

09 Feb 2021, 03:01:58 PM IST

Max Financial Services up over 1%

Max Financial Services Ltd (MFSL) on Tuesday reported 54% jump in its consolidated net profit to 227 crore in the third quarter ended December 2020.

The company's net profit stood at 147 crore in the year-ago period.

The consolidated revenues soared to 8,990 crore, growing 68% year-on-year due to higher investment income, MFSL said in a release.

09 Feb 2021, 02:50:28 PM IST

Ircon International board to consider bonus issue, interim dividend

The board of directors of Ircon International will meet on 15 February to consider bonus issue and interim dividend.

"Pursuant to Regulation 29 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 {SEBI (LODR), Regulation, 2015}, it is hereby informed that a meeting of the Board of Directors of the Company is scheduled to be held on Monday, 15th February, 2021 , inter-alia to consider & approve: 1. the Interim Dividend , if any, for the Financial Year 2020-21; and 2. the proposal for issuance of Bonus Shares," Ircon International Limited said in a communication to exchanges.

09 Feb 2021, 02:48:11 PM IST

PNB (up 4.21%), Bank of India (up 2%) top gainers on Nifty PSU Bank index

09 Feb 2021, 02:48:11 PM IST

Sensex off day's high

09 Feb 2021, 02:09:22 PM IST

Central Bank of India reports 6.5% rise in net profit

Net profit stood at 165 crore in Q3FY21, as against 155 crore in the same quarter of preceding year, registering a growth of 6.45%. Net Interest Income of the bank improved to 2,228 crore in Q3FY2l as

compared to 2,022 crore in Q3 FY20, registering a growth of 10.19%.

09 Feb 2021, 01:54:39 PM IST

Jindal Stainless Hisar up nearly 3%

The company posted an over three-fold jump in its consolidated net profit to 270 crore for the December 2020 quarter. Jindal Stainless Hisar Ltd had posted a net profit of 82 crore in the corresponding quarter of last fiscal, JSHL said in a BSE filing.

09 Feb 2021, 01:38:08 PM IST

BPCL up 0.6%

The company’s December quarter net profit rose 23.6% over the preceding quarter to 2,778 crore, while revenue increased 33.1% to 66,731.5 crore q-o-q.

09 Feb 2021, 01:03:02 PM IST

Crypto bill being finalised, will be sent to cabinet soon

Minister of State for Finance Anurag Thakur on Tuesday, responding to a question in the Rajya Sabha, said the government is in the process of finalising a cryptocurrency bill which will be sent to the Union Cabinet soon.

In 2018, the Reserve Bank of India (RBI) had banned banks from processing transactions relating to cryptocurrency. However, in March last year, the Supreme Court had lifted the ban. (Full report)

09 Feb 2021, 12:50:53 PM IST

Ashoka Buildcon up 7%; guidance cut ignored as BOT sale overhang seen easing

Shares of construction company Ashoka Buildcon Ltd rose more than 7% intraday on the NSE on Tuesday to 112.25. The stock rose sharply despite the company’s unimpressive December quarter earnings and cut in order inflow guidance. Execution delays impacted the company’s earnings performance, leading to flat revenues. Also, the management has cut its FY21 order inflow guidance to 4000 crore from 5000 crore earlier. (Full report)

09 Feb 2021, 12:41:55 PM IST

Tokyo's Nikkei index hits new 30-year high

Japan's benchmark Nikkei index climbed to a new 30-year high Tuesday, tracking Wall Street gains on hopes for additional stimulus.

The benchmark Nikkei 225 index gained 0.40%, or 117.43 points, to close at 29,505.93, while the broader Topix index advanced 0.08%, or 1.59 points, to 1,925.54.

09 Feb 2021, 12:03:08 PM IST

Q3 results decent, but Balkrishna Industries stock down 7% on new capex plan

Reacting to robust earnings, the stock hit a new 52-week high of 1875 in opening trade on Monday. However, the stock's up move lost steam as the trading session progressed, falling 7% to 1707. According to analysts, the company's massive capital expenditure plan, which involves a fresh capex of 1900 crore, has made the Street nervous. The management said this capex is likely to be funded from internal accruals and debt if required. (Full report)

09 Feb 2021, 11:40:15 AM IST

JSW Steel Jan crude steel production up 2% y-o-y

The company's crude steel production for the month of January, 2021 stood at 14.32 lakh tonnes up 2% y-o-y. The average capacity utilisation was 96% during the period under review.

09 Feb 2021, 11:28:35 AM IST

IT stocks shine

India's benchmark stock indexes hit multiple all-time highs in recent sessions as investors cheered last week's high-spending and growth-focused federal budget aimed at reviving the economy. Strong foreign inflows, solid corporate earnings and buoyant global markets have also aided sentiment.

09 Feb 2021, 11:20:10 AM IST

GE Power drops over 3%

The company reported 65% decline in consolidated net profit at 35.09 crore for December quarter 2020-21. The net profit in the year-ago period stood at 100.81 crore, the company said in a BSE filing.

09 Feb 2021, 11:10:15 AM IST

NMDC up 0.5%

State-owned mining major NMDC on Monday said its consolidated net profit jumped 53% to 2,108 crore for the quarter ended in December. The company had posted a net profit of 1,375 crore during the same quarter a year ago, NMDC said in a BSE filing.

09 Feb 2021, 10:49:03 AM IST

Rupee update

The rupee appreciated by 8 paise to 72.89 against the US dollar in opening trade on Tuesday tracking positive domestic equities and persistent foreign fund inflows.

At the interbank forex market, the local unit opened sharply higher at 72.87 against the US dollar and lost some ground to 72.89 in early deals, registering a rise of 8 paise over its last close.

In the previous session, the rupee had slipped 4 paise to settle at 72.97 against the US dollar.

09 Feb 2021, 10:48:21 AM IST

AstraZeneca Pharma declines over 4%

The drug firm reported a 21% decline in net profit at 21.05 crore for the quarter ended in December. AstraZeneca Pharma India had posted a net profit of 26.70 crore for the corresponding period of the previous fiscal, AstraZeneca Pharma India said in a BSE filing.

09 Feb 2021, 10:36:34 AM IST

Torrent Pharma drops 6.4%

The company reported an 18.32% rise in its consolidated net profit to 297 crore for the quarter ended in December. The drug firm had posted a net profit of 251 crore for the corresponding period of the previous fiscal, Torrent Pharma said in a filing to BSE.

09 Feb 2021, 10:26:52 AM IST

Banks, financial stocks under pressure

NSE Sectoral Indices
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NSE Sectoral Indices
09 Feb 2021, 10:10:41 AM IST

Godrej Consumer falls over 1%

FMCG major Godrej Consumer Products Ltd (GCPL) on Monday reported 12.77% increase in consolidated net profit at 502.08 crore for December quarter 2020-21 helped by sales growth in domestic market.

The company had posted a net profit of 445.20 crore in October-December period a year ago, GCPL said in a BSE filing.

Total revenue from operations was at 3,055.42 crore, up 9.98% as against 2,778.05 crore in the year-ago period.

Total expenses were at 2,435.11 crore, up 8.50% from 2,244.16 crore in third quarter of 2019-20.

09 Feb 2021, 10:00:09 AM IST

Market outlook

"The markets have continued their northward trajectory this morning and we are very close to the 15200 target. While a pause at these levels cannot be ruled out, the overall trend for the Nifty remains positive and we should target 15500 as the next level of resistance. A buy on dips is a prudent strategy to adopt in the current market scenario," said Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments.

09 Feb 2021, 09:47:46 AM IST

Future Retail shares gain

The Delhi high court on Monday quashed an order that halted Future Group’s 24,713 crore deal to sell its assets to Reliance Industries Ltd, dealing a blow to Amazon.com Inc.’s efforts to block the sale.

09 Feb 2021, 09:35:33 AM IST

HCL Tech up nearly 2%

HCL Technologies on Monday announced a special one-time bonus worth over 700 crore for its employees, as the IT giant marked $10 billion (about 72,800 crore) revenue milestone.

The special bonus will be paid to employees in February 2021, amounting to nearly USD 90 million plus payroll taxes in some countries, the impact of which is excluded from FY21 EBIT (earnings before interest and taxes) guidance provided by the company last month, HCL Tech said in a statement.

HCL Technologies said it is "issuing a one-time special bonus to employees around the world" worth over 700 crore in recognition of its recent milestone of crossing the $10 billion mark in revenue for 2020.

09 Feb 2021, 09:30:05 AM IST

Infosys, RIL, ICICI Bank lift Sensex by over 160 points

Top Sensex Contributors
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Top Sensex Contributors
09 Feb 2021, 09:17:54 AM IST

Market opening

Indian benchmark equity indices opened higher on Tuesday after a record-setting day on Wall Street.

Sensex opened at 51,484.23, up 135.46 points or 0.26%, while Nifty climbed 48.35 points or 0.32% to open at 15,164.15.

Ultratech Cement, up over 1%, was the top Sensex gainer followed by Titan, RIL, Asian Paints and Nestle India. HDFC Bank, L&T and Axis Bank were among the laggards. Of 30 Sensex shares, 24 opened in the green.

BSE Sensex
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BSE Sensex
09 Feb 2021, 09:10:00 AM IST

Market pre-opening

Indian stocks traded higher in the pre-opening session on Tuesday. At 9:07am, Sensex was at 51,484.67, up 135.9 points or 0.26%, while Nifty advanced 48.35 points or 0.32% at 15,164.15.

09 Feb 2021, 08:54:41 AM IST

Stocks to Watch

Future Retail, BPCL, Essar Shipping, Torrent Pharma and GE Power are among the top ten stocks that could be in focus today. (Full report)

09 Feb 2021, 08:45:26 AM IST

Market at close on Monday

The Sensex closed above 51,000 points for the first time while the Nifty smashed past the 15,100-mark on Monday as the post-Budget rally continued for the sixth session amid strong corporate results and robust foreign fund inflows.

A persistently bullish trend in global markets further bolstered risk appetite, traders said.

After touching a lifetime high of 51,523.38 during the day, the 30-share BSE Sensex ended 617.14 points or 1.22% higher at its record closing peak of 51,348.77.

Similarly, the broader NSE Nifty surged 191.55 points or 1.28% to its lifetime closing high of 15,115.80. It touched an intra-day record of 15,159.90.

Investor wealth climbed by nearly 2.50 lakh crore, with the market capitalisation of all BSE-listed companies reaching 202.82 lakh crore.

09 Feb 2021, 08:45:26 AM IST

Asian markets track Wall Street records

The global equity rally took a breather in Asia Tuesday as investors mulled stimulus prospects and the impact of rising inflation expectations with stocks at record highs.

Seoul's KOSPI jumped 0.7%.

Japan's Nikkei advanced 0.4%.

Hong Kong's Hang Seng Index was a little changed.

China's Shanghai Composite advanced nearly 1%.

Singapore's SGX Nifty was flat.

Australia's ASX200 fell 0.5%.

09 Feb 2021, 08:45:26 AM IST

Wall Street sets record closing highs

Wall Street reached all-time closing highs on Monday as investor optimism was stoked by prospects of a speedier economic recovery from the global health crisis, driven by increased stimulus and an accelerated vaccine rollout.

The Dow Jones Industrial Average rose 237.52 points, or 0.76%, to 31,385.76, the S&P 500 gained 28.76 points, or 0.74%, to 3,915.59 and the Nasdaq Composite added 131.35 points, or 0.95%, to 13,987.64.

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