By Aamar Deo Singh, Head Advisory, Angel Broking Ltd
Indian markets traded lower amid volatile sessions along with a weak global market. The Banking and Financial sector slipped in today’s trading session.
Nifty went down by 0.42% or 45.40 and closed at 10, 768.05 while S&P BSE Sensex tripped down by 0.39% or 143.36 points and closed at 36,594.33.
Around 1646 shares declined, 989 shares advanced, while 159 shares remained unchanged.
IndusInd Bank (2.93%), Axis Bank (3.16%), GAIL (2.94%), Titan Company (2.68%), and HDFC (2.75%) were among top nifty losers.
Reliance Industries Limited (3.07%), Sun Pharma (2.29%), HUL (2.49%), Britannia Industries (1.43%), and Bharti Airtel (1.06%) were top Nifty gainers in today’s trading session.
Pharma, FMCG, and energy sectors traded positive while auto, banking, and metal sectors traded lower.
BSE Midcap and BSE Smallcap went down by 0.72% and 0.35% respectively.
The Q1 net profits of the Karnataka Bank for the FY21 went up by 12% while the Net Interest Income was up by 8.2%. As a result, the shares of the bank surged by 3.19% and traded at Rs. 46.95 in today’s trading session.
Shares of Unichem Laboratories went up by 1.11% and traded at Rs. 186.50 after the company received ANDA approval from the USFDA for its Baclofen 10mg and 20mg tablets.
Stocks of Reliance Industries Limited went up by 3.07% and traded at Rs.1880.20 after hitting the fresh high at Rs. 1871 per share. The total market capitalization of the company at present is at Rs. 11.85 lakh.
The first quarter earnings of the largest software services exporter TCS remained below-expectations despite the company bagging a new deal. The net profit of the company was down by 12.9% and revenue declined by 4.1%. However, shares of the company went up by 0.76% and traded at Rs. 2221.70.
State Bank of India
Stocks of SBI tripped down by 1.81% and traded at Rs.195.35 after the bank informed the exchange that a board meeting will be held to discuss and consider raising funds. The bank is likely to seek approval to raise tier-1 and tier-2 capital in US dollars or Indian Rupees for the FY21.
Stocks of Astra Microwave Products Limited went up by 4.01% and traded at Rs. 121.70 after the ace investor Radhakishan Damani bought 1.03% stake of the company.
Indian Rupee ended lower in today’s trading session amid the volatile trading session with buying seen in the domestic equity markets and closed at Rs.75.20 against the U.S. Dollar.
The yellow metal traded flat in today’s trading session with a negative bias on the MCX as concerns regarding the rising number of coronavirus cases prevailed across the globe.
Global Markets traded weak
Global markets traded weak in today’s trading session. The European markets traded lower during the day and managed to end positive as FTSE MIB went up by 0.78% while FTSE 100 went up by 0.59%. On the other hand Asian stocks and US stocks went down amid the rising number of coronavirus cases raising concerns regarding economic recovery. Nasdaq went up by 0.63%, while Nikkei 225 and Hang Seng went down by 1.06% and 1.84% respectively.