By Aamar Deo Singh, Head Advisory, Angel Broking Ltd
Indian indices ended lower in today’s trading session led down by heavyweights like ICICI Bank and Reliance Industries.
Nifty slipped down by 0.84% or 96.20 points and closed below 11,400 mark at 11,312.20, while S&P BSE Sensex went down by 1.02% or 394.40 points and closed at 38,220.39.
Tata Motors (2.64%), HDFC (2.28%), Axis Bank (2.16%), ICICI Bank (2.03%), and Wipro (1.88%) were among top Nifty losers, while NTPC (6.87%), ONGC (3.33%), Power Grid (2.59%), Coal India (2.37%), and BPCL (2.01%) were among top Nifty gainers.
BSE Midcap and BSE Smallcap went up by 0.87% and 0.72% respectively. Nifty Bank remained the worst performing index of the day, while the power sector ended with sharp gains in today’s session.
J Kumar Infraprojects Ltd.
The first quarter net loss of the company stood at Rs.20.8 crore during FY21 whereas the revenue of the company declined by 57.3%. The stocks of the company, however, went up by 1.76% and traded at Rs.112.70.
Glenmark Pharmaceuticals Limited
The stocks of the company went up by 2.03% and traded at Rs. 490.50 after the company sold its stake in drug discovery subsidiary Ichnos Sciences in the second half of the FY21.
Tata Power Company Limited
The company recently exhibited its current business structure along with its plans of becoming one of the top 2 energy companies in the country following which the stocks of the company surged by 8.02% and traded at Rs.61.25.
Muthoot Finance Ltd.
The stocks of the company tripped down by 5.47% and traded at Rs.1,187.00 after the company released its scorecard for the first quarter of the FY21.
Zee Entertainment
The stocks of Zee Entertainment rose by 1.14% and traded at Rs.199.05 after the global research firm upgraded the stock from neutral to buy and raised the target price to Rs.240 per share.
RBL Bank Ltd.
Stocks of RBL Bank tripped down by 1.54% and traded at Rs.181.95 after the company approved raising Rs.1,566 crore through preferential shares to a set of its investors.
Titan Company Limited
Titan kept its promise to ace investor Rakesh Jhunjhunwala and provided clarification on Titan’s gold hedging policy at its earning call last week. The stocks of the company went down by 1.69% and traded at Rs.1,129.00.
Indian Rupee
Indian rupee ended lower today at Rs.74.98 against the US Dollar amid selling in the domestic equity markets and a jump in its global peers.
Global Markets traded negative
The Asian and the European markets traded lower amid the rising US-China tensions and rising concerns over impact of coronavirus on the economy. Nasdaq tripped down by 0.57%, FTSE 100 went down by 1.00%, FTSE MIB slipped by 0.91%, Nikkei 225 went down by 1.00%, while Hang Seng tripped down by 1.54%.
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