Indian indices extended losses to trade near day’s low levels on Friday closing at 3.30 PM mainly dragged by heavy selling in metals and banking and indices. The metal index shed 4%, while auto index added 2%. Tata Motors, Bajaj Auto, Reliance Industries, Bajaj Finance and Apollo Tyres were most active shares on the NSE.
After January 21’s record-breaking high of 50,000, today, Sensex went as low as 755 points. Nifty banks extend fall, down 3%, Nifty metal slips 3% dragged by Sail, Jindal Steel, European stocks head lower, Asian markets fall, oil prices fall, Sensex at day’s low slips below 49,000 briefly. RIL, ICICI Bank, HDFC Bank are the main contributors to Sensex fall.
Steep losses in banking heavyweights dragged Nifty Bank more than 3%. Broader indices also reeled under pressure with Nifty Midcap 100 index falling 1.22% and Nifty Smallcap100 declining 0.58%. Barring Nifty Auto and Nifty IT, all other sectoral indices ended in the red.
Here are some of today’s highlights:
- SBI Life Insurance
Private life insurer SBI Life Insurance posted a 40.2% YoY decrease in its profit in Q3 at Rs 232.85 crore on rising in expenses. The net premium income rose to Rs 13,766.49 crore in Q3 as against Rs 11,694.51 crore.
- Indigo Paints IPO subscribed 95 times
The public offer of Indigo Paints has been subscribed 95 times so far on January 22, the final day of bidding, receiving bids for 52.6 crore equity shares against the IPO size of 55.18 lakh shares.
- JK Tyres & Industries
JK Tyres share prices hike 12%, hut 52-week high after Q3 profit increases to 230 crores
- Mangalam Organics
The company’s net profit in Q3FY21 jumped to Rs 30 crore from Rs 4 crore, while revenue increased to Rs 108 crore from Rs 81 crore, YoY.
- Gold slips as yields gain but set for best week in five
Gold fell on Friday as US Treasury yields rose. Spot gold fell 0.6% to $1,859.10 per ounce by 0828 GMT, retreating from a near two-week peak hit on Thursday. For the week, it rose by 1.8%. Tts biggest weekly gain since the week ending December 18. US gold futures eased 0.3 percent to $1,860.90. Benchmark 10-year US Treasury yields held firm above 1%, helping the dollar rise.
SRF down 6% as profit slips in Q3
Industrial manufacturer SRF Ltd has reported a 6% fall in its profit to ₹324 crores in Q3 FY21. However, net of one-time tax adjustments, the profit increased by 46%. The company’s earnings before interest and tax increased by 42%. Revenue grew by 16% to ₹2,146 crores in the same period.
Adani Total Gas, Torrent Gas acquire 5% stake each in IGX
Adani Total Gas and Torrent Gas have become the first strategic investors in IGX or Indian Gas Exchange by acquiring five per cent stake each. The IGX is an arm of Indian Energy Exchange (IEX) and first authorised gas exchange in the country.