Sensex ends 549 points down at 49,035; HCL Tech declines 4%; Tata Motors up 7%
Fresh concerns over coronavirus lockdown in China and European countries weighed on market sentiment, dragging benchmarks 1 per cent lower on Friday. That apart, concerns around the implementation of US President-elect Joe Biden’s proposed package tempered global recovery hopes.
The benchmark S&P BSE Sensex breached below the 49,000-mark during the intra-day trade, and hit a low of 48,795 on the BSE, plunging around 860 points from day’s high. The Nifty50, on the other hand, skid 260 points from day’s high to hit a low of 14,358. Volatility gauge, India VIX, jumped over 4 per cent today to close at 24 levels.
Sensex ended in the sea of red with 26 of the 30 constituents ending the day in the red. Tech Mahindra (down 4 per cent) was the top loser on the index, followed by losses in ONGC, HCL Tech, Asian Paints, Ultratech Cement, HUL, and NTPC, down between 2 per cent and 3.7 per cent. The index closed at 49,035 levels, down 549.5 points or 1.11 per cent.
Weightage-wise, HDFC, Reliance Industries, Infosys, ICICI Bank, and HUL dragged the index by 300 points.
On NSE, the Nifty50 index slipped below the 14,500-mark and settled at 14,433 levels, down 162 points or 1.11 per cent lower.
In the broader market, the S&P BSE MidCap and SmallCap indices settled with a cut of 1.25 per cent and 1.06 per cent, respectively.
All the sectoral indices on the NSE closed with a red tick. Nifty IT and Nifty PSU Bank index ended with 2 per cent cuts while Nifty Financial Services, FMCG, Metals, and Private bank were down 1 per cent. Nifty Bank index skid 273 points, or 0.8 per cent, and ended at 32,247.
Shares of MSTC hit a record high of Rs 263.65, soaring 20 per cent on the BSE on Friday, in an otherwise weak market on the back of heavy volumes. Trading volumes on the counter more-than-doubled with a combined 2.9 million equity shares, representing 4.1 per cent of total equity of MSTC, changing hands on the NSE and BSE till 03:18 pm. In comparison, the S&P BSE Sensex was down 1.1 per cent at 49,037 levels.
Gail dipped 7% from day’s high as board approved buyback. The board also declared an interim dividend of Rs 2.50 per share or 25 per cent for the financial year 2020-21 (FY21). The company said it has fixed January 28, 2021 as the record date for the purpose of determining the eligibility of shareholders for buyback of equity shares well as for payment of interim dividend.
Shares of Tata Motors extended their winning run to the 11th straight day on Friday after the stock rose 7 per cent to hit a 28-month high of Rs 261.50 on the BSE in an otherwise weak market. The stock was trading at its highest level since September 2018. The stock, however, pared gains later, and was ruling 5 per cent higher on the BSE after it clarified that the company had no plans to form partnership with US-based Tesla for electric mobility.
Shares of Majesco were locked in upper circuit for the 16th straight trading day, up 5 per cent at Rs 26.05 on the BSE on Friday in an otherwise weak market. The stock has rallied 113 per cent from the level of Rs 12.20 after it adjusted to interim dividend of Rs 974 per share. Majesco had paid high dividend payout after the sale of US arm — which accounted for the bulk of its revenues and profits — to private equity firm Thoma Bravo last year.
Shares of Vodafone Idea hit a 52-week high of Rs 13.53, up 10 per cent, on the BSE in Friday’s intra-day trade on the back of heavy volumes in an otherwise weak market. The telecom services provider’s stock surpassed its previous high of Rs 13, touched on September 4, 2020. At 11:07 am, the stock was trading 7 per cent higher at Rs 13.13 on the BSE against a 0.7 per cent decline in the S&P BSE Sensex. A combined 733 million equity shares changed hands on the counter on the NSE and BSE, the exchange data shows.
Shares of Tata Steel Long Products hit a fresh 52-week high of Rs 810, zooming 13 per cent on the BSE on Friday, after the company reported a consolidated net profit of Rs 304 crore for the quarter ended December 2020 (Q3FY21), on the back of strong operational performance. The Tata group company had posted a consolidated a net loss of Rs 112 crore in December 2019 quarter.
Shares of HCL Technologies dipped 2 per cent to Rs 1,007 on the BSE in early morning trade on Friday, down 5 per cent in the past three trading days, on account of profit booking after the company reported a 26.2 per cent quarter on quarter (QoQ) growth in consolidated net profit at Rs 3,969 crore in December quarter (Q3FY21) earlier today.
Shares of Bharti Airtel surged 5 per cent to Rs 610 on the BSE on Friday after the global index provider MSCI said it will take a decision on increasing the weightage of the telecom services provider at upcoming index review in February. The stock was trading close to its record high level of Rs 612, touched on May 20, 2020.
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