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.


Please enter your comment!
Please enter your name here

More News

India Has Two Major Obstacles In Dealing With China: Jaishankar 

Speaking at the media summit, Mr. Jaishankar said asserted that India has two enormous handicaps in dealing with China including the defeat in the...

Assam CM’s Dig At Rahul Gandhi Says Rahul Gandhi Looks Like Saddam Hussain

Assam chief minister Himanta Biswa Sarma in his latest dig at Rahul Gandhi said that the Congress leader's looks have changed and he looks...

Nearly 75% Twitter Employees Layoffs In A Month, Will Elon Musk’s New Policy Be Able To Assure The Employees

After cutting nearly 75% workforce of Twitter in less than a month since the takeover, Elon Musk is now reported to have kept the...


Keep Your Money Safe, Jeff Bezos Warns Economic Recession

Amazon founder Jeff Bezos recently warned consumers and businesses that they should consider postponing large purchases during the holiday season as an economic recession...

G20 Presidency Is A Proud Occasion For Every Indian: PM Modi

Indonesia President Joko Widodo handed over the G20 Presidency to India at the closing ceremony of the 17th intergovernmental summit in Bali on Wednesday....

Unmanned Trains Will Run Soon In India

Bharat Electronics Ltd (BEL) has signed an agreement with Delhi Metro Rail Corporation Ltd (DMRC) to jointly develop an indigenous communication-based train control system...