Market Wrap, Jan 28: Here's all that happened in the markets today

A volatile session ended deep in the red on Thursday amid expiry of the January series of the Futures and Options (F&O) contracts, and profit-booking on stretched valuations and ahead of the Union Budget announcement next week.

Markets ended lower for the fifth straight day with realty and public sector banks' stocks nursing the most severe losses. At the index level, the benchmark S&P BSE Sensex tumbled 891 points in the intra-day deals today but managed to settle 535.6 points, or 1.13 per cent, down at 46,874.36 levels. 

HUL (down 3.6%), Maruti Suzuki (3.4%), HCL Tech (2%), and Bajaj Finserv (2%) were the top losers on the Sensex today while gains in Axis Bank (5.5%), SBI (2.7%), and ICICI Bank (1.3%) trimmed losses.

On the NSE, the Nifty50 closed above the 13,800-mark at 13,817.5 level, down 150 points or 1.07 per cent. The index hit an intra-day low of 13,713.

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.

Sectorally, Nifty Realty index ended as the top loser on the NSE, down over 2 per cent. However, Nifty Bank and Private Bank index, up around 0.3 per cent each, were the only gainers.

InterGlobe Aviation-run IndiGo airline on Thursday reported a consolidated net loss of Rs 620.1 crore for the October-December quarter of FY21 (Q3FY21), as against a net profit of Rs 490.5 crore in the year-ago period. The airline, however, narrowed its loss from Rs 1,194.8 crore incurred in the September quarter of FY21.

Auto major Maruti Suzuki, on Thursday, reported a 25.8 per cent year-on-year growth in consolidated profit at Rs 1,996.7 crore for the December quarter of FY21 (Q3FY21) while revenue rose 13.26 per cent to Rs 23,471.3 crore. In comparison, the company had posted revenue of Rs 20,721.8 crore and profit of Rs 1,586.9 crore in the corresponding quarter of last year.

Shares of United Spirits slipped 7 per cent to Rs 597 on the BSE in Thursday's intra-day trade following its December quarter numbers announcement. Despite a rebound in performance, the management remains cautiously optimistic due to continued uncertainty in the medium term. In the past one month, the stock has outperformed the market by surging 14 per cent as against a 1 per cent gain in the S&P BSE Sensex till Wednesday.

Shares of Aditya Birla Fashion and Retail (ABFRL) dipped as much as 6 per cent to Rs 153 on the BSE on Thursday. The company had, on Wednesday, announced a strategic partnership with India’s largest designer brand Sabyasachi by signing a definitive agreement for acquiring 51 per cent stake in Sabyasachi brand for a consideration of Rs 398 crore.

Global markets

Shares wiped out their gains in Europe for the year early on Thursday, soured by a sell-off on Wall Street, no end in sight to pandemic lockdowns and a squeeze in short positions.

The pan-European STOXX benchmark was down 1.8% at 395.77 points, its lowest since December. London, Paris and Frankfurt all fell.

Asian shares slid on Thursday while the safe-haven dollar rallied as Wall Street’s sell-off and delays in coronavirus vaccines provided an excuse to book profits on recent gains.

MSCI’s broadest index of Asia-Pacific shares outside Japan fell 2%, Japan’s Nikkei fell 1.5%, its sharpest drop since October, and Chinese blue chips lost 2.7% as liquidity tightened before the Lunar New Year holidays.

South Korea fell 1.7%, led by losses in Samsung after it reported earnings.