fbpx
  Previous   Next
HomeBusinessSensex Slips 1,023 Points, Nifty Ends Above 17,200

Sensex Slips 1,023 Points, Nifty Ends Above 17,200

Benchmark indices ended lower for the third consecutive day on February 7 amid selling saw in auto, FMCG, IT, bank, healthcare, realty, capital goods stocks.

At close, the Sensex was down 1,023.63 points or 1.75% at 57,621.19, and the Nifty was down 302.70 points or 1.73% at 17,213.60. About 1389 shares have advanced, 2044 shares declined, and 131 shares are unchanged.

Tata Consumer Products, HDFC Bank, HDFC Life, L&T and Bajaj Finance were the top Nifty losers, while gainers included Power Grid Corp, ONGC, NTPC, Shree Cements and Tata Steel.

Among sectors, except PSU bank, metal and power all other sectoral indices ended in the red with auto, FMCG, IT, bank, healthcare, realty, capital goods shed 1-2 percent. BSE Midcap and smallcap indices fell 0.75-1.25 percent.

Indian Bank has posted 34 percent jump in its Q3 net profit at Rs 689.7 crore versus Rs 514.3 crore and NII was up 1.9% at Rs 4,395 crore versus Rs 4,313 crore, YoY.

Its Gross NPA was at 9.13% versus 9.56% and net NPA was at 2.72% versus 3.26%, QoQ.

Indian Bank was quoting at Rs 156.20, down Rs 12.25, or 7.27 percent.

The higher deficits and continued lack of clarity on medium-term consolidation plans in India’s latest budget add risks to Fitch Ratings’ projection of a downward trajectory in government debt/GDP. The degree to which planned higher capex supports GDP growth and offsets these risks is an important consideration for the sovereign rating.

Risks around the sustainability of the downward debt trajectory were a key factor behind our decision to maintain a Negative Outlook when we affirmed India’s ‘BBB-’ rating in November 2021.

Research firm Investec has kept sell call on Torrent Power with a target at Rs 412.

The adjusted Q3 profit missed estimates by 10% & 13% respectively.

The research firm has cut FY23 estimates by 10% in anticipation of lower scheduling of gas plants.

Torrent Power was quoting at Rs 528.80, down Rs 51.55, or 8.88 percent on the BSE.

Fintech company Angel One Limited (formerly known as Angel Broking Limited) has registered tremendous growth with its client base expanding to 8.34 million in January 2022, a 140.9% YoY and 7.2% MoM increase.

The company has added 0.54 million clients in a month, an 89.7% YoY and 16.4% MoM growth.

The fintech company’s growth across business parameters reflects in the Average Daily Turnover (ADTO), which grew by 151.4% YoY to ~Rs 8.15 trillion in January 2022. The Average Client Funding Book grew by 124.2% to Rs 15.82 billion.

Angel One also recorded 66.95 million orders in January 2022, a 103.8% YoY growth. Meanwhile, its overall equity market share increased to 21.1%, a 143 bps YoY expansion.

Angel One was quoting at Rs 1,352.00, down Rs 31.60, or 2.28 percent on the BSE.

More News

Smartphone Use And An Increase In Social Isolation Point To Decline In Mental Health of Young Adults: Report

If you are a young adult and spend a lot of time on your smartphone that it may cause a rapid decline in your...

Inflation Is One of The Top Issues In World Wide: Ipsos

Inflation has shot up the rankings to be the number one global concern in April, according to Ipsos. In March, Inflation made the top...

Two Years After Infection, Half of People Hospitalised With Covid Have At Least One Symptom: Study

Two years after getting infected with COVID-19, half of people hospitalised with the infection have at least one symptom, a follow-up study by the...

RELATED NEWS

Elon Musk Says Businesses And Governments Accounts Likely To Pay To Use Twitter

Elon Musk has said that businesses and governments may soon need to pay a “slight cost” to use Twitter just weeks after announcing he...

India Continue To Buy Russian Crude, Here Is The List Who Is Buying And Who Has Stopped

India has taken advantage of discounted prices to ramp up oil imports from Russia at a time when global energy prices have been rising. After...

Sensex Slips 460 Points, Nifty Ends Below 17,105

Indian indices at the weekend cleaned all the gains before closing lower, despite positive global cues. The week witnessed heavy turbulence due to multiple...