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Shares hit day`s low; bank stocks advance

Published on Jan 18, 2022 10:28

The domestic equity benchmarks reversed gains and traded with modest losses in morning trade. The Nifty was trading below the 18,250 mark. Bank stocks witnessed value buying after declining in the past three sessions.

At 10:26 IST, the barometer index, the S&P BSE Sensex, was down 262.86 points or 0.43% to 61,046.05. The Nifty 50 index lost 90.70 points or 0.5% to 18,217.40.

In the broader market, the S&P BSE Mid-Cap index fell 0.74% while the S&P BSE Small-Cap index declined 0.59%.

Buyers outpaced sellers. On the BSE, 1229 shares rose and 1985 shares fell. A total of 100 shares were unchanged.

Buzzing Index:

The Nifty Bank index rose 0.19% to 38,288, amid some bit of bargain buying. The index had declined 1.32% in the past three sessions.

AU Small Finance Bank (up 2.35%), Axis Bank (up 1.93%), Bandhan Bank (up 0.66%), ICICI Bank (up 0.40%) and HDFC Bank (up 0.34%) advanced.

RBL Bank (down 1.64%), IndusInd Bank (down 0.53%), Punjab National Bank (down 0.50%), Federal Bank (down 0.30%), SBI (down 0.26%) and Kotak Mahindra Bank (down 0.09%) declined.

Results Today:

Tata Elxsi (up 1.59%), Trident (down 5.00%), Bajaj Finance (up 0.25%), DCM Shriram (down 0.28%), Den Networks (down 1.92%), ICICI Prudential Life Insurance (down 0.20%), ICICI Securities (up 0.63%), Just Dial (down 0.85%), L&T Technology Services (up 0.03%), Network18 Media & Investments (down 1.48%), TV18 Broadcast (down 1.64%) and Newgen Software Technologies (up 1.02%) will announce their quarterly earnings today.

Stocks in Spotlight:

Manappuram Finance rose 0.54% to Rs 168.65. The company`s board has approved fund raising up to Rs 800 crore via non-convertible debentures, on a private placement basis.

Hathway Cable & Datacom fell 2.58% to Rs 22.65 after the company`s consolidated net profit declined 45.76% to Rs 33.93 crore on 2.89% rise in net sales to Rs 455.03 crore in Q3 December 2021 over Q3 December 2020.

HFCL slumped 6.69% to Rs 89.95 after the company`s consolidated net profit fell 4.71% to Rs 81.10 crore on a 4.86% decline in revenue from operations to Rs 1,215.21 crore in Q3 FY22 over Q3 FY21.

COVID-19 Update:

In last 24 hours, India registered 2,38,018 new COVID-19 infections in a day taking the tally to 37,618,271, according to the Union Health Ministry data on Tuesday. The country reported 310 new deaths taking the death toll to 4,86,761. The country recorded 1,57,421 recoveries, taking the total number of recoveries to 3,53,94,882. The active cases comprise 4.62% of the total infections, while the national COVID-19 recovery rate has decreased to 94.09%, the ministry said.

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