Profit selling emerged after the Sensex added 5.76% in nine trading sessions from its previous closing low of 45,553.96 on 21 December 2020.The Nifty gained 6.04% in the same period.
In broader market, the S&P BSE Mid-Cap index fell 0.11% while the S&P BSE Small-Cap index was off 0.2%.
The market breadth was negative. On the BSE, 1160 shares rose and 1433 shares fell. A total of 132 shares were unchanged.
COVID-19 Update:
Total COVID-19 confirmed cases worldwide stood at 8,56,44,224 with 18,52,208 deaths. India reported 2,31,036 active cases of COVID-19 infection and 1,49,850 deaths while 99,75,958 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India.
Buzzing Index:
The Nifty IT index added 0.43% to 25,217.80, extending its winning run to third consecutive trading session. The index added nearly 4% in three trading days.
L&T Infotech (up 2.47%), Info Edge (up 1.93%), Mphasis (up 1.58%), Wipro (up 0.47%) and Mindtree (up 0.22%) were top gainers in IT segment.
TCS (up 0.94%) will announce its Q3 December 2020 on Friday, 8 January 2021.
Stocks in Spotlight:
Housing Development Finance Corporation (HDFC) rose 1.07% to Rs 2,607 after the company said its individual loan business continued to see improvements during the quarter ended 31 December 2020. Disbursement growth over the corresponding quarter of the previous year was 26%. For the nine months ended 31 December 2020, individual loan disbursements stood at 86% of the levels in the corresponding period of the previous year. The corporation assigned loans to HDFC Bank amounting to Rs 7,076 crore compared to Rs 4,258 crore in the corresponding quarter of the previous year. Individual loans sold in the preceding 12 months amounted to Rs 16,956 crore as against Rs 21,066 crore in the previous year.
Bajaj Finance fell 1.45%. The NBFC disclosed that its assets under management (AUM) stood at approximately Rs 143,700 crore as of 31 December 2020, a tad lower than Rs 145,092 crore as of 31 December 2019. The company's AUM in Q3 FY21 grew by approximately Rs 7,700 crore as compared to Rs 9,559 crore in Q3 FY20. Bajaj Finance's customer franchise as of 31 December 2020 stood at 46.3 million compared with 40.4 million as of 31 December 2019. The company acquired 2.2 million new customers in Q3 FY21 as against 2.5 million in Q3 FY20. New loans booked during Q3 FY21 were 6 million as compared to 7.7 million in Q3 FY20. The company's consolidated liquidity surplus stood at approximately Rs 14,600 crore as of 31 December 2020. "The company's liquidity position remains very strong," Bajaj Finance said in a statement. The company continues to remain well capitalized with capital adequacy ratio (CRAR) of approximately 28% as of 31 December 2020.
National Fertilizers (NFL) jumped 6.85% after the company said that it achieved highest ever production of 9.99 lakh MT urea in the third quarter during FY 2020-21. The company successfully maintained its operations during constraints posed by COVID-19, it added. The plants at Nangal and Panipat achieved their ever best urea production during Oct-Dec 2020 period. The Nangal plant while increasing production levels at plant also achieved ever lowest quarterly energy of 6.602 GCal/MT urea against previous best of 6.615 GCal/MT urea.
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