The benchmark indices hit fresh intraday low in afternoon trade amid negative global cues. The Nifty fell below the crucial 18,000 level. Trading was volatile as the October 2021 F&O contracts expire today, 28 October 2021.
At 13:20 IST, the barometer index, the S&P BSE Sensex, skid 696.30 points or 1.14% at 60,447.03. The Nifty 50 index declined 222.35 points or 1.22% at 17,988.60.
ICICI Bank (down 2.86%), Reliance Industries (RIL) (down 1.26%) and HDFC Bank (down 1.50%) dragged the market.
The broader indices traded lower. The S&P BSE Mid-Cap index lost 0.75%. The S&P BSE Small-Cap index fell 0.96%.
Sellers outnumbered buyers. On the BSE, 1,017 shares rose and 2,158 shares fell. A total of 134 shares were unchanged.
Gainers & Losers:
IndusInd Bank (up 5.05%), Larsen & Toubro (L&T) (up 3.17%), Ultratech Cement Co. (up 1.90%), Asian Paints (up 1.49%) and Maruti Suzuki India (up 1.43%) were major gainers in Nifty 50 index.
Adani Ports & Special Economic Zones (APSEZ) (down 6.72%), Oil & Natural Gas Corporation (ONGC) (down 4.34%), Coal India (down 3.25%) and Titan Company (down 2.85%) were major losers in Nifty 50 index.
Nifty Result Today:
NTPC (down 1.59%) will announce its quarterly result today.
Earnings Impact:
Bajaj Finserv gained 0.89%. The company reported 13.8% rise in consolidated net profit to Rs 1,122.13 crore on a 19.6% increase in total income to Rs 18,008.22 crore in Q2 FY22 as compared with Q2 FY21. Profit before tax in Q2 FY22 stood at Rs 2,792.28 crore, up by 29.5% from Rs 2,156.60 crore in Q2 FY21. Bajaj Finserv is the holding company for the various financial services businesses under the Bajaj group. BFS participates in the financing business through its 52.65% holding in Bajaj Finance (BFL) and in the protection business through its 74% holding in two unlisted subsidiaries, Bajaj Allianz General Insurance Company (BAGIC) and Bajaj Allianz Life Insurance Company (BALIC). Bajaj Housing Finance (BHFL), which does mortgage business and Bajaj Financial Securities (BFinsec), which does broking business, are wholly-owned subsidiaries of Bajaj Finance.
Bajaj Auto slipped 0.50%. The company's consolidated net profit jumped 70.84% to Rs 2,039.86 crore on a 22.44% surge in total revenue from operations to Rs 8,762.18 crore in Q2 September 2021 over Q2 September 2020. On a standalone basis, the automobile manufacturer's net profit grew 12% to Rs 1,275 crore on a 22% increase in revenue from operations to Rs 8,762 crore in Q2 September 2021 over Q2 September 2020. Turnover soared 22% to Rs 9,081 crore in Q2 FY22 from Rs 7,442 crore in Q2 FY21. EBITDA jumped 10% to Rs 1,434 crore in Q2 September 2021 as against Rs 1,300 crore in Q2 September 2020. EBITDA margin stood at 16.4% in Q2 FY22 as compared to 18.2% in Q2 FY21. Operating profit spurted 11% to Rs 1,367 crore in Q2 September 2021 over Rs 1,233 crore in Q2 September 2020.
ITC dropped 4.84%. ITC reported 13.7% rise in standalone net profit to Rs 3,697 crore on a 11.2% increase in net revenue to Rs 12,543 crore in Q2 FY22 as compared with Q2 FY21. EBITDA improved by 12.9% to Rs 4,615 crore in Q2 FY22 from Rs 4,088 crore in Q2 FY21. Profit before tax in the second quarter stood at Rs 4,880 crore, up by 13.5% from Rs 4,301 crore reported in the same period last year. Total FMCG segment revenue increased by 7% YoY to Rs 9,678 crore during the period under review. In the FMCG segment, cigarettes revenue rose by 10.2% YoY to Rs 5,642 crore while the revenue from other FMCG segment improved by 2.9% Y-o-Y to Rs 4,036 crore during the quarter.
Global Markets:
European stocks were mixed while Asian stocks declined across the board on Thursday, as investors digested corporate earnings and looked ahead to a new rate decision by the European Central Bank.
Investors also awaited the Bank of Japan's latest monetary policy announcement. The Bank of Japan is set to announce its latest monetary policy decision on Thursday. The central bank is expected to hold steady on policy, as per reports.
Japan's retail sales fell for a second month in September as consumers limited spending amid concerns over the coronavirus pandemic. Retail sales in September slipped 0.6% from the same month a year earlier, government data showed on Thursday. It followed a 3.2% dip in August that marked the first year-on-year decline in six months.
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