INDIAN EQUITY BENCHMARK INDICES ERASED ALL MORNING GAINS AND ENDED LOWER

Domestic Equity Market trimmed all the morning gains amid reports of a fire in the Serum Institute of India plant in Pune. Net Buying of FII/FPI was at Rs.1,614.66 crore while net selling of FII/FPI was at Rs.1,039.48 crore. The BSE Sensex ended 167.36 points or 0.34 percent lower at 49,624.76 levels with shares of Bajaj Finance, Reliance, Bajaj Auto, Bajaj Finserv, Asian Paints, HUL,ICICI Bank gained by 2.72%, 2.09%, 1.91%, 1.23%, 0.62%, 0.50%, 0.26% respectively while shares of ONGC, Bharti Airtel, SBI, IndusInd Bank, NTPC, Mahindra & Mahindra ,Sun Pharma were the losers with a loss of 4.00%, 2.56%, 2.51%, 2.25%, 2.19%, 2.18%,1.95% respectively. The Nifty fell 54.35 points or 0.37 percent to close at 14,590.35 with Realty, Metal, Media, Pharma, Bank, IT Indexes were having loss of 2.56%, 2.18%, 2.04%, 1.43%, 1.10%, 0.64% respectively.

STOCKS IN NEWSCAST:

Bajaj Finance nearly 3% as the company is going to launch 'Bajaj Pay', an integrated payment platform comprising of UPI, PPI, EMI card and credit card options as it plans to enter the payment solutions market in the fourth quarter of FY21, the company said on January 20.

Reliance gained over 2% as SEBI granted approval to the deal between Kishore Biyani-led Future Group and Reliance Retail, an arm of the Mukesh Ambani-led Reliance Industries Limited (RIL) .

Bajaj Auto rose nearly 2% in today’s session as the company reported consolidated net profit of Rs 1,716.26 crore for the October-December quarter of FY21 (Q3FY21), up 29.7 per cent, from a profit of Rs 1,322.4 crore in the year-ago period, primarily on the back of 9 per cent year-on-year (YoY) volume growth.

Asian Paint advanced nearly 1% as the company reported a 62 per cent year-on-year jump in net profit to Rs 1,238.34 crore for the December quarter.