Stock market recap for 19 january 2021
Nifty50: 14,521 ▲ 239 (+1.6%)
Sensex: 49,398 ▲
834 (+1.7%)
All sectoral indices closed positive with most gains seen in the Nifty Realty (+4.1%) and Nifty Metal (+2.4%) indices.
|
Top gainers |
Today's change |
|
Bajaj Fin Serv |
▲ 6.7% |
|
Bajaj Finance |
▲ 5.2% |
|
Tata Motors |
▲ 5.2% |
|
Top losers |
Today's change |
|
ITC |
▼ 0.3% |
|
Tech Mahindra |
▼ 0.2% |
|
Britannia |
▼ 0.0% |
STOCK MARKET RECAP
Paint stocks rise ahead of Indigo paints IPO
Meanwhile, shares of other major paint makers were upbeat today with Akzo Nobel (+3.3%), Asian Paints (+2.4%) and Berger Paints (+1.9%) seeing gains. Even the smaller-sized Shalimar Paints (13.7%) saw a sharp rise today. The pick-up in demand in the real estate sector also augurs well for the paint industry.
Escorts gets nod for electric tractors
Shares of the tractor maker gained 0.3% today. While Escorts’ tractor sales volumes are seeing strong growth, it seems investors are choosing to book profits. Shares of Escorts fell 4.4% in Q3, whereas the Nifty Auto index was up nearly 16% in the same period.
Bank of Maharashtra rises on improved net profit
State-owned Bank of
Maharashtra reported 14% YoY rise in
Q3 net profit to ₹154 crore and 10% YoY rise in net interest income to ₹1,306
crore.
Its asset quality
improved with net NPA at 2.59% in Q3 versus 3.30% in Q2 and 5.46% in Q3 last
year. Its shares surged 7.4% today, coupled with high volumes. The central
government owns 93.3% shares, and 2.3% is held by LIC, suggesting a shortage of
float in case the demand for the stock rises.
Alembic gains on growth in formulation business
The Vadodara-based
pharma player posted a net profit of ₹259.2 crore for
Q3, a 14% YoY growth. Its revenues from operations stood at ₹1,314 crore, a 9%
YoY growth.
The company attributed
its growth to the 14% rise in its India formulations business, which stood at
₹418 crore. Meanwhile, its specialty segment and API business gained 16% and
21%, respectively. The positive results notwithstanding, the stock fell 3.2%
today.
Closing bell
Most
Asian indices (including Indian indices) rose sharply today ahead of US
Treasury secretary nominee Janet Yellen’s speech.
She is expected to call for generous government action to boost the economy. In
anticipation, gold and silver prices also rose nearly 0.4% and 1.8%,
respectively.
What
is surprising is that the major European indices are trading flat as of now.
Meanwhile, the India VIX, which was down more than 15% intraday, jumped and
closed 6% lower than yesterday. Traders must be prepared for volatility in the
days ahead.
What
is a free float?
The
free float represents the portion of shares of a company that are in the hands
of public investors (retail & institutional) as opposed to the locked-in
shares held by promoters or, in case of public sector enterprises, the
government.
The Indian Rail Finance Corporation IPO is live on Upstox. You can subscribe to the
IPO with Upstox here.
Haven't tried out Upstox yet? Click here to open your
account now!
Disclosures and Disclaimer
Investment in securities markets are subject to market risks; please read all the related documents carefully before investing. The securities quoted are exemplary and are not recommendatory. Past performance is not indicative of future results. Details provided in the above newsletter are for educational purposes and should not be construed as investment advice by RKSV group. Investors should consult their investment advisor before making any investment decision.
Authorised Partner
Labels: Market Recap
posted by JAVED CHILLIMUTTUR @ January 19, 2021
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