Monday, 5 February 2018

Sensex falls 400 pts, Nifty back above 10,600; VIX rises 8% | Trade Nivesh Investment

Benchmark indices continued to trade sharply lower, though recovered a bit from opening lows.
The 30-share BSE Sensex was down 407.24 points or 1.16 percent to 34,659.51 and the 50-share NSE Nifty fell 137.60 points or 1.28 percent to 10,623.A
About nine shares declined for every share rising on the BSE.
TCS, Infosys, Tata Motors, Bharti Airtel, ITC, Tech Mahindra, Wipro and HCL Technologies were gainers..
Shares of Inox Wind, PI Industries and Gujarat Gas declined 3-10 percent in morning on the back of poor Q3 (Oct-Dec) numbers.
Inox Wind has registered net loss of Rs 46 crore in Q3FY18 against profit of Rs 107 crore. Revenue of the company was down 92 percent at Rs 90 crore.
The company post operating loss at Rs 18.6 crore versus profit of Rs 183.4 crore.
PI Industries' Q3FY18 net profit was down 14 percent at Rs 80 crore, while revenue was up 7 percent at Rs 537 crore. The operating profit (EBITDA) was up 1 percent at Rs 104 crore and margin was down 170 bps at 19.4 percent.
Gujarat Gas has posted 2 percent declined in its Q3FY18 net profit at Rs 60 crore, while, revenue was up 13 percent at Rs 1,614 crore. EBITDA was down 2 percent at Rs 198 crore and margin was down 190 bps at 12.3 percent.
9:25 am Investment: Bharti Airtel said Singtel would invest Rs 2,649 crore in promoter company, Bharti Telecom via preferential issue.
Funds raised will be used towards debt reduction, it added.
Singtel's stake in Bharti Telecom will increase to 48.9 percent from 47.2 percent.
PC Jeweller rallied more than 20 percent in early trade on huge buying, after the stock hit hard in previous session.
On Friday, the stock fell close to 60 percent intraday but recovered later to close with a loss of 24.40 percent post management positive comments and clarified on relation with Vakrangee that has been facing some issues.
Market Check: Benchmark indices opened the week sharply lower on Monday, with the Sensex falling more than 500 points, tracking weakness across the globe.
The 30-share BSE Sensex was down 527.75 points or 1.50 percent at 34,539 and the 50-share NSE Nifty fell 166.40 points or 1.55 percent to 10,594.20.
About five shares declined for every share rising on the BSE.
Vakrangee, Inox Wind, HCC, IFCI, Westlife Development, Union Bank of India, Gujarat Gas, Future Consumer and Jain Irrigation were down 2-10 percent.

1 comment:

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