Sensex, Nifty trade with small losses

Benchmark indices traded with small losses in morning trade. The Nifty traded a tad below the 18,200 mark. Consumers durable stocks bucked weak market trend.

At 10:30 IST, the barometer index, the S&P BSE Sensex, fell 253.09 points or 0.41% at 60,982.50. The Nifty 50 index slipped 61.15 points or 0.33% at 18,196.25.

In broader market, the S&P BSE Mid-Cap index rose 0.17% while the S&P BSE Small-Cap index added 0.26%.

Buyers outpaced sellers. On the BSE, 1,879shares rose and 1,283 shares fell. A total of 116 shares were unchanged.

Foreign portfolio investors (FPIs) sold shares worth Rs 1,390.85 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 1,065.32 crore in the Indian equity market on 13 January, provisional data showed.

Economy:

India and the UK have formally launched negotiations for a Free Trade Agreement between two countries. Joint Statement of Commerce and Industry Minister Piyush Goyal and UK Secretary of State for International Trade Anne-Marie Trevelyan said the Free Trade Agreement would be a substantial opportunity for both economies and a significant moment in the bilateral relationship.

India and the UK will seek to agree a mutually beneficial agreement supporting jobs, businesses and communities in both countries. Trade negotiations will be a priority for both countries.

COVID-19 Update:

In last 24 hours, India reported 2,64,202 fresh COVID cases, as per the health ministry`s data. The country reported 315 new deaths taking the death toll to 485,350.

Meanwhile, the World Health Organization approved two new Covid-19 treatments, to stave off severe illness and death from the virus.

Ministry of Health and Family Welfare stated yesterday that more than 157.50 crore (1,57,50,62,435) vaccine doses have been provided to States/UTs so far through Govt. of India (free of cost channel) and through direct state procurement category.

Results Today:

HCL Technologies (down 2.73%) and Tinplate Company of India (up 1.54%) will announce its quarterly result today.

Buzzing Index:

The Nifty Bank slipped 229 points or 0.6% to 38,240, slipping for second trading session in a row. The banking index declined 1.26% in two days.

Axis Bank (down 2.68%), AU Small Finance Bank (down 2.57%), Kotak Mahindra Bank (down 0.72%), IndusInd Bank (down 0.7%) and IDFC First Bank (down 0.4%) were top losers in banking space.

Earnings Impact:

Aditya Birla Money slipped 1.93%. The company`s net profit jumped 53.8% to Rs 6.46 crore on a 23% rise in total income to Rs 60.75 crore in Q3 FY22 over Q3 FY21. On the segmental front, revenue from Broking business was Rs 53.66 crore (up 32.9% YoY), Income/Gain from securities was Rs 5.12 crore (down 25.6% YoY) and other revenue was Rs 1.47 crore (down 4.2% YoY) during the period under review. While the company`s net profit has remained flat, total income has risen by 4.7% in Q3 FY22 as compared with Q2 FY22. Operating margin was 15.19% in Q3 FY22 as against 12.26% in Q3 FY21 and 15.80% in Q2 FY22.

Tata Metaliks fell 5.56% to Rs 871.30 after net profit declined 52.58% to Rs 35.65 crore on 31.08% rise in net sales to Rs 689.80 crore in Q3 FY22 over Q3 FY21. Profit before tax fell 54% to Rs 50.3 crore in Q3 FY22 over Q3 FY21.

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