Domestic equity Market maintained a downward motion during this week and ended with a loss. Nifty Fifty witness a loss of 1.20% over the previous week’s close. Domestic Equity Market closed with gains on Monday led by gains in Banking and financial stocks amid positive global cues. Indian equity Market ended flat with negative bias on Tuesday as profit-taking at the higher levels trimmed all the gains as the day progressed. Domestic equity market ended lower on Wednesday mainly dragged by the financial and IT stocks. Domestic Equity market continued to fall for the third day on Thursday dragged by losses in the private banks, financial and auto stocks amid global cues. Market ended lower for the fourth session on Friday amid selling seen across all the sectors. Sectors like Energy, Metal Indexes were having gains of 5.23%, 1.89% respectively while Pharma, Auto, IT, FMCG, Bank, Realty Indexes were having loss of 3.43%, 3.41%, 2.26%, 1.74%, 0.74%,0.73% respectively.
TOP STOCKS IN NEWSCAST:
Jagran gained over 15% as the company reported healthy financials in Q3.The company reported net profit at Rs.82.64cr in Q3FY21, up by 6.9% from Rs77.30cr in Q3FY20 in the quarterly financial results.
Powergrid surged over 9% as the company has acquired 74% shareholding of the JV partner i.e. Jaiprakash Power Ventures in Jaypee PowerGrid.
Gail jumped over 9% after the company approved a share buyback plan. The company is going to open its buyback programme on February 25 for up to 6,97,56,641 fully paid-up equity shares of face value Rs 10 each, representing 1.55 percent of the number of equity shares in the issued, subscribed and paid-up equity share capital of the company.
Bharat Forg lost 6% after the company posted a net loss of Rs 210.4 crore for the quarter ended December 2020.