INDIAN EQUITY MARKET EXTENDED THE GAINS FOR THE FIFTH SESSION
Domestic Equity Market showed a positive sign and react positively to a status-quo in policy rates by the Reserve Bank of India (RBI) kept markets afloat on Friday even as mild profit-booking amid heightened volatility trimmed gains at higher levels.Net Buying of FII/FPI was at Rs.1,461.71 crore while net selling of DII was at Rs.1418.65 crore. The Sensex ended 117.34 points, or 0.23 percent higher at 50,731.63 with shares of SBI, Kotak Bank, Dr Reddy, Ultratech Cement, ITC, HDFC Bank , HUL were among the top gainers with a gain of 10.69%, 3.73%, 2.90%, 2.74%, 1.85%, 1.18%, 1.04% respectively while shares of Axis Bank,Bharti Airtel,ICICI Bank, Maruti, HCL Tech, Asian Paints were having loss of 3.30%, 3.18%, 2.06%, 1.90%, 1.21%, 1.05% respectively. The Nifty gained 28.60 points or 0.19 percent, to settle at 14,924.25 with Indexes like Pharma, Metal, Bank, Realty, FMCG were having gains of 1.66%, 0.99%, 0.88%, 0.68%, 0.40% respectively while Indexes like Media, Auto, IT, Energy were having loss of 4.47%, 1.32%,. 0.93%, 0.27% respectively.
TOP STOCKS IN NEWSCAST:
STATE BANK OF INDIA (SBI)
The stock gained over 10% after Analysts have raised their price targets on the SBI stock by up to 83 per cent after the lender’s better-than-expected December quarter earnings and optimistic commentary on asset quality led the Street to believe the worst may be over for the Indian banking giant.
KOTAK MAHINDRA BANK
Share price of Kotak bank surged over 3% after RBI maintained status quo in the sixth bi-monthly monetary policy for FY21.
ULTRATECH CEMENT
The Company is tapping the overseas bond market for the first time amid signs of improving demand for construction works and growing environmental concerns over cement manufacturing. The company launched a roadshow to raise up to $400 million via overseas bond sales.
ITC
ITC is scheduled to announce its October-December quarter (Q3FY21) results on Thursday, February 11, 2021. The stock has gained nearly 2% in today’s session.
