INDIAN MARKET CONTINUED ITS DOWNWARD MOTION FOR THE FIFTH CONSECUTIVE SESSION

Domestic Equity market extended losses for the fifth straight session on the back of negative global cues amid investors booking profits at higher levels ahead of Union Budget. Net selling of FII/FPI was at Rs.3,712.51 crore while net buying of DII was at Rs1,736.92 crore. The Sensex ended 535.57 points or 1.13 percent lower at 46,874.36 with shares of Axis Bank, SBI, ONGC, ICICI Bank, Ultratech Cement, Titan, Asian Paints ,NTPC, Bharti Airtel were having gains of 6.16%, 2.47%, 1.17%, 1.12%, 0.72%, 0.72%, 0.63%, 0.37%, 0.22%, 0.04% respectively while shares of HUL, Maruti, HDFC Bank, Powergrid, Kotak Bank, IndusInd Bank, HCL Tech ,Bajaj Finserv were having losses of 3.65%,3.56%, 2.81%,2.60%, 2.25%, 2.18%, 2.17%, 2.08% respectively. The Nifty declined 149.95 points or 1.07 percent to close at 13,817.55 with Indexes like Realty,IT, FMCG, Auto, Pharma, Metal Indexes were having losses of 2.20%, 2.18%, 1.91%, 1.02%, 0.80%, 0.53% respectively while bank Index was the only gainer with a gain of 0.24%.

TOP STOCKS IN NEWSCAST:

Axis Bank surged over 6% after the bank announced its financial performance for the quarter ending December 2020 (Q3FY21) period. Net interest margin for the quarter under review was at 3.59% compared to Q3FY20 where it stood at 3.57%.

SBI gained over 2% as Swaminathan Janakiraman & Aswini Kumar Tewari have been appointed as Managing Directors of the bank for three years.

ICICI Bank rose nearly 2% as the Competition Commission of India (CCI) has dismissed a complaint of abuse of dominant position made against ICICI Bank with respect to the home loan segment.

Titan jumped nearly 1% as Net profit of Titan Securities rose 2700.00% to Rs 0.56 crore in the quarter ended December 2020 as against Rs 0.02 crore during the previous quarter ended December 2019.