F&O Expiry: Sensex sinks 536 pts; broader mkts outperform; bank stocks up

In the broader market, the S&P BSE MidCap index ended 0.4 per cen lower while the smallcap counterpart closed down 0.45 per cent.

8:49 AM

Stocks to watch: Axis Bank, HUL, Maruti Suzuki, IndiGo, PVR, ABFRL, Nalco

Axis Bank: The private sector lender reported a 36 per cent decline in net profit at Rs 1,117 crore in the December quarter compared with Rs 1,757 crore a year ago, due to higher provisions. Net interest income, meanwhile, rose 14 per cent YoY to Rs 7,373 crore.

 

HUL: Hindustan Unilever (HUL) posted an 18.87 per cent YoY rise in its standalone net profit at Rs 1,921 crore in the December quarter. The revenue from the sale of products came in at Rs 11,862 crore, up 21 per cent YoY. 

 

Q3 earnings: Maruti Suzuki. Lupin, InterGlobe Aviation, Angel Broking, IRCTC, Tata Chemicals, and TVS Motor Company are among 129 companies slated to announce their December quarter earnings later today. READ MORE

8:47 AM

Oil slips on tightening COVID-19 curbs, especially in China

Oil prices slid in early trade on Thursday on fresh worries about weakened fuel demand, after England clamped down on travel and China, the world’s second-largest oil consumer, also sought to limit Lunar New Year trips to stem a surge in Covid-19 cases.

US West Texas Intermediate (WTI) crude futures fell 12 cents, or 0.1%, to $52.72 a barrel, erasing some of Wednesday’s gain.

 

Brent crude futures fell 16 cents, or 0.3%, to $55.65 a barrel, after losing 10 cents on Wednesday.

(Source: Reuters)

8:44 AM

SGX Nifty Update

>> At 8:43 am, the index was down 145 points at 13,835 level, indicating a gap-down start for the indices.

8:42 AM

US Market Check

The main Wall Street indices declined overnight amid deepening concerns about stretched valuations in equities markets. Adding to the market worries was the outcome of the Federal Reserve’s policy meeting. While the Fed left its key overnight interest rate near zero and made no change to its monthly bond purchases, policymakers flagged a concerning slowdown in the pace of the economic recovery.

 

Overall, the S&P 500 index fell nearly 2.57 per cent, the Dow fell 2.05 per cent and the Nasdaq dropped 2.61 per cent.

8:41 AM

Asian Market Check

In early Asian trade, Australia's ASX200 benchmark lost 2 per cent, while Japan's Nikkei and Hong Kong's Hang Seng fell over 1 per cent, each. South Korea''s Kospi, meanwhile, was down 0.9 per cent.

8:18 AM

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