Partner With Us NRI

Shares trade with strong gains; bank stocks in demand

Published on Feb 09, 2022 10:26

The domestic equity barometers continued to trade with strong gains in morning trade. The Nifty was trading above the 17,350 mark. Bank stocks rose for the second consecutive session.

At 10:24 IST, the barometer index, the S&P BSE Sensex, was up 492.55 points or 0.85% to 58,301.13. The Nifty 50 index added 103.35 points or 0.60% to 17,370.10.

In the broader market, the S&P BSE Mid-Cap index gained 0.63% while the S&P BSE Small-Cap index rose 0.29%.

The market breadth was positive. On the BSE, 1723 shares rose and 1335 shares fell. A total of 116 shares were unchanged.

The Reserve Bank of India`s (RBI) Monetary Policy Committee (MPC) started its two-day meet on Tuesday, 8 February 2022. The RBI`s MPC will announce its interest rate decision on 10 February 2022.

COVID-19 Update:

India added 71,365 new cases in the last 24 hours. The daily positivity rate stood at 4.54%. The country`s active caseload currently stood at 8,92,828.

Results Today:

Power Grid Corporation Of India (up 0.05%), FSN E-Commerce Ventures (down 0.76%), Tata Power Co. (down 0.06%), Steel Authority of India (down 0.49%), Berger Paints India (up 0.90%), ACC (down 0.08%), Bosch (up 1.03%), Aurobindo Pharma (up 0.91%), Abbott India (up 0.46%), GMR Infrastructure (up 0.70%), BASF India (up 0.45%), Nuvoco Vistas Corporation (up 0.39%), Indiabulls Housing Finance (down 0.33%), Petronet LNG (up 0.51%), SKF India (up 0.48%), Procter & Gamble Health (up 0.17%), Hitachi Energy India (down 1.17%), Jindal Stainless (Hisar) (down 0.15%), Prestige Estates Projects (up 0.21%), Paras Defence and Space Technologies (up 1.39%) and Sundaram-Clayton (up 1.85%) will announce their quarterly earnings today.

Buzzing Index:

The Nifty Bank index rose 1.07% to 38,435.90, advancing for second day in a row. The index has added 1.16% in two sessions.

Federal Bank (up 2.63%), HDFC Bank (up 1.68%), Kotak Mahindra Bank (up 1.55%), IndusInd Bank (up 1.42%), ICICI Bank (up 1.07%), AU Small Finance Bank (up 0.87%), Axis Bank (up 0.83%), Bandhan Bank (up 0.53%) and IDFC First Bank (up 0.32%) advanced.

Concurrently, Punjab National Bank (down 1.19%), RBL Bank (down 0.38%) and SBI (down 0.22%) declined.

Stocks in Spotlight:

Indraprastha Gas fell 1.54% to Rs 386.05 after the company posted an 8% fall in standalone net profit to Rs 308.52 crore in Q3 FY22 from Rs 334.87 crore registered in Q3 FY21. Net sales jumped 53.2% to Rs 2,215.46 crore in Q3 FY22 from Rs 1,466 crore reported in Q3 FY21. EBITDA margin fell to 21% in Q3 FY22 from 35% in Q3 FY21.

NMDC rose 0.16% to Rs 153.65. The company reported a 2.8% fall in standalone net profit to Rs 2,050 crore in Q3 FY22 from Rs 2,108.9 crore posted in Q3 FY21. Net sales grew by nearly 35% to Rs 5,873.77 crore in Q3 FY22 from Rs 4,355 crore posted in Q3 FY21.

Bata India shed 0.77% to Rs 1,871. The footwear maker reported consolidated net profit of Rs 72.32 crore in Q3FY22 against Rs 26.41 crore in Q3FY21. Total income surged to Rs 854.8 crore from Rs 628.8 crore YoY.

Powered by Capital Market - Live News