Previous closing (16 February 2021)
Nifty50: 15,313 ▼ 1 (-0.0%)
Sensex: 52,104 ▼ 49 (-0.1%)
Nifty Bank: 37,098 ▼ 207 (-0.5%)
In the news
Nestle declares flat profit growth
- The FMCG major reported a 2% YoY rise in profit to ₹483 crore in Q4 CY20, lower than street estimates of ₹563 crore.
- Revenue rose at a healthier 9% to ₹3,432 crore, driven primarily by increase in consumption of in-home products such as noodles and confectionery. The stock closed 1.6% down on Tuesday and has lost around 6% so far in 2021.
Graphite stocks piggyback on steel demand
- Shares of graphite electrode makers Graphite India (+10.8%) and HEG (+16.8%) were upbeat yesterday on the belief that rising domestic steel demand will trigger an increase in demand for graphite electrodes.
- Graphite electrodes are used in steel manufacturing as a heating element in an electric arc furnace.
Tata Comm-Google push for cloud together
- Tata Communications has partnered with Google to help Indian businesses migrate to cloud-based services.
- Through the partnership, it will help Indian organisations to access Google cloud services and help modernise their IT infrastructure and applications. The stock was up 6% on Monday.
US markets hit record high
- Abundant policy support and optimism over the economic recovery continue to drive up the US equity markets.
- The Dow Jones hit a record high yesterday and has gained over 5% this month. Amid this, a speculative wave is also observed in riskier assets, including penny stocks to Bitcoin.
Events of the week
- Wednesday: Retail sales (US)
- Thursday: Crude oil inventories, Initial jobless claims (US)
Sectoral indices (Previous closing)
| Top gainers | Top losers |
| Nifty Metal ▲ 2.8% | Nifty IT ▼ 1.4% |
| Nifty PSU Bank ▲ 1.6% | Nifty Media ▼0.7% |
Global markets (at 8:30 am today)
| Indices | Today's movement |
| Nikkei 225 (Japan) | ▼ 0.8% |
| Hang Seng (Hong Kong) | ▲ 0.0% |
| SSE Composite (China) (10 Feb) | ▲ 1.4% |
| Dow Jones (US) | ▲ 0.2% |
Fact of the day
The Shell Oil Company began as a novelty shop in London that sold seashells.
Source: Shell
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