NIFTY50 and SENSEX close lower in a volatile session, Tech Mahindra and Cipla amongst top losers; Stock Market Highlights

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The NIFTY Midcap 100 index (-0.4%) closed lower today. Meanwhile, NIFTY Smallcap 100 Index (+0.5%) closed in the green today.

The NIFTY Financial Services (-0.5%) index closed lower today, with SBI Card (+1.8%) and ICICI Bank (+0.9%) being the top gainers, while Chola Finance (-1.7%) and SBI Life (-1.6%) being the top losers.

The BANK NIFTY (-0.48%) index closed in the red. Sell-off in HDFC Bank (-1.0%), Axis Bank (-0.8%), AU Bank (-3.7%) dragged down the index.

India’s benchmark indices – NIFTY50 (-0.4%) and Sensex (-0.5%) – closed lower. Out of the NIFTY50 space, 34 stocks declined. Sell-off in technology and banking stocks dragged down the markets.

Shares of the public sector lender jumped 2.3% intraday after it announced a robust Q3 earnings number. Its consolidated net profit jumped three times, while net interest income saw double-digit growth. Here are complete details

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• Shares of the electrical transformers and reactors gained for a third straight day. The company’s share price is up over 36% this week amid a strong business outlook. The company has a strong order book position of ₹2,572 crore as of 31 December.

• Meanwhile inquiries of domestic orders worth ₹4,256 crore and export orders worth $127 million were under negotiation.

• As per experts, the transformer market is poised for significant growth supported by pent-up demand, ageing electrical infrastructure, grid hardening and modernization initiatives, which will ultimately help companies like Transformers and Rectifiers (India).

Cement maker reported 8.4% YoY jump in its revenue to ₹4,918 crore for the December quarter. Meanwhile, net profit saw over 377% YoY jump to ₹527.5 crore. EBITDA was at ₹903 crore compared to ₹378.5 crore in a year-ago period.

Shares of HPCL declined 6.9% intraday, with a day low of ₹416.8 per share after the company reported subdued Q3 results. Its revenue from operations rose 2.1% YoY to ₹1.19 lakh crore, while its consolidated net profit rose ₹712 crore. However, the Q3 net profit and revenue has missed the market estimate.

30 January expiry

• Max call OI (resistance) : 20,200
• Max put OI (support) : 20,000
• Max pain: 20,100
• PCR: 0.55