India Stocks Review:Weighed down by profit booking in RIL, HDFC Bank

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Stocks Review:Weighed down by profit booking in RIL, HDFC Bank

Monday, Jan 20

 

By Suddhi Shah

 

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MUMBAI – The benchmark indices ended lower today as some booked profits in index heavyweights and HDFC Bank and on fall in Kotak Mahindra Bank and Tata Consultancy Services. These companies have a combined weightage of 30% of the Nifty 50 index.

 

The indices had opened the day higher, by in RIL and HDFC Bank, which hit one-month highs in the pre-open session.

 

RIL gave up its gains and ended 3.1% lower as weakness in the company’s mainstay refining and petrochemical business offset the robust performance of its segment. The stock had risen largely on optimism over the conglomerate’s free cash flow turning positive for the first time in over 20 quarters.

 

HDFC Bank fell 1.8% due to concerns over rise in stressed loans in the December quarter. Increasing share of unsecured loans, largely card-related debt, also offset optimism over a sharp rise in total advances.

 

The Nifty 50 index ended 127.80 points or 1.03% lower at 12224.55, and the Sensex ended down 416.46 points or 0.99% at 41528.91. The Nifty Bank index ended 1.6% lower.

 

Kotak Mahindra Bank ended 4.7% lower as the lender’s asset quality weakened sequentially in the December quarter.

 

Tata Consultancy Services fell 2.2% as the technology major’s management indicated softness in revenue growth and trimmed the growth outlook for consolidated sales in 2019-20 (Apr-Mar) to 8%. In the previous financial year, the company’s consolidated sales had grown 11%.

 

However, investor sentiment remains positive on hopes of government measures to revive the economy in the upcoming Union Budget.

 

have not yet normalised, and therefore there will be some . However, the ground sentiment remains positive, especially in the midcap and smallcap space, said Pankaj Pandey, head of research at ICICI Securities.

 

The Nifty Midcap 100 index has risen 5% in January so far, and the Nifty Smallcap 100 index was gained over 7%, reflecting the investor optimism ahead of the budget. The midcap index ended 0.6% lower today, while the smallcap benchmark fell 0.7%.

 

Power Grid Corp of India, NMDC, NHPC, and Cochin Shipyard ended 3.4-11.6% higher as they will be included in the Nifty CPSE index from Jan 23. On the other hand, Indian Oil Corp and Power Corp ended 4.2% and 7.9% lower, respectively, as they will be excluded from the index.

 

Prestige Estates Projects ended 10.6% higher as the company’s arm Prestige Falcon Realty Ventures acquired 50% stake in Lokhandwala DB Realty LLP.

 

* Among Nifty 50 stocks, 16 rose and 34 fell

* Among Sensex stocks, 9 rose and 21 fell

* On the NSE, 631 stocks rose, 1,174 fell and 358 were unchanged

* On the BSE, 950 stocks gained, 1,580 fell, and 182 were unchanged

* Nifty Bank: Down 1.6%; Nifty Realty: Up 0.5%; Nifty CPSE: Down 3.3%


BSE                                         : National Stock Exchange

Sensex: 41528.91, down 416.46 pts (1.0%)    : Nifty 50: 12224.55, down 127.80 pts (1.0%)


S&P BSE Sensitive Index                       Nifty 50

Lifetime High: 42059.45 (Jan 16)            : Lifetime High: 12389.05 (Jan 16)

Record Close High: 41952.63 (Jan 14)        : Record Close High: 12362.30 (Jan 14)

2020 1st day close: 41306.02 (Jan 1)        : 2020 1st day close: 12182.50 (Jan 1) 

2020 Closing High: 41952.63 (Jan 14)        : 2020 Closing High: 12362.30 (Jan 14)

2020 Closing Low: 40676.63 (Jan 6)          : 2020 Closing Low: 11993.05 (Jan 6)

2020 High (intraday): 42059.45 (Jan 16)     : 2020 High (intraday): 12389.05 (Jan 16)

2020 Low (intraday): 40613.96 (Jan 6)       : 2020 Low (intraday): 11974.20 (Jan 6)

2019 Closing High: 41681.54 (Dec 20)        : 2019 Closing High: 12271.80 (Dec 20)

2019 Closing Low: 35352.60 (Feb 19)         : 2019 Closing Low: 10604.35 (Feb 19)

2019 High (intraday): 41809.96 (Dec 20)     : 2019 High (intraday): 12293.90 (Dec 20)

2019 Low (intraday): 35287.16 (Feb 19)      : 2019 Low (intraday): 10583.65 (Jan 29)

2018 High (intraday): 38938.91(Aug 28))     : 2018 High(intraday): 11760.20 (Aug 28)

2018 Low (intraday): 32483.8 (Mar 23)       : 2018 Low (intraday): 9951.9 (Mar 23)

2017 High (intraday): 34005.37 (Dec 26)     : 2017 High(intraday): 10515.10 (Dec 26)

2017 Low (intraday) 26447.06 (Jan 2)        : 2017 Low (intraday) 8133.80 (Jan 2)

2016 High (intraday) 29077.28 (Sep 8)       : 2016 High (intraday) 8968.70 (Sep 7)

2016 Low (intraday) 22494.61 (Feb 29)       : 2016 Low (intraday) 6825.80 (Feb 29)


End

 

Edited by Ashish Shirke

 

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