Benchmark indices erased the day’s gains and ended lower as they were dragged by FMCG, IT, and pharma segments.
Nifty went down by 0.06% or 8.90 points and ended at Rs. 14,137.35, while S&P BSE Sensex fell by 0.17% or 80.74 points and closed at 48,093.32. Nifty Smallcap 100 and Nifty Midcap 100 ended 1% higher, outperforming the benchmark.
Nestle India (2.04%), HDFC Life Insurance (1.88%), Hindustan Unilever (1.83%), Titan Company (1.82%), and Divi’s Laboratories (1.80%) were among the top Nifty losers. In contrast, Tata Steel (5.28%), Hindalco (4.81%), Bharti Airtel (3.59%), Adani Ports (3.35%), and IndusInd Bank (3.26%) were among the top Nifty gainers.
On the sectoral end, buying was seen in metals, realty, PSU Banks, and financial stocks. BSE Midcap and BSE Smallcap surged by 1.05% and 0.85% respectively.
Dixon Technologies (India) Ltd.
Stocks of Dixon Technologies surged by 9.68% and traded at Rs. 15,843.95 after the company entered into an agreement with boAt to manufacture Twin wireless speakers. The products will be manufactured in Dixon’s Noida manufacturing facility.
Bharti Airtel Ltd.
The telecom giant received RBI and FIPB nod to increase FDI in its Payment Bank, after which the stocks of the company surged by 3.59% and traded at Rs. 544.15
G M Breweries Ltd.
GM Breweries recently reported its Q3 FY21 earnings. The company’s net profit rose by 51% to Rs. 21.1 crores, while its revenue declined by 6.4% to Rs.112.1 crores. The EBITDA increased by 39% to Rs. 27.7 crores. The stocks of the company surged by 5% and traded at Rs. 454.65.
Lupin Ltd.
Lupin’s stocks surged 2.29% and traded at Rs. 1,023.50 after the company received tentative approval from the US FDA for Empagliflozin and Metformin Hydrochloride ER Tablets, which are used as an adjunct to diet and exercise.
Gujarat Ambuja Exports Ltd.
The stocks of the company went up by 1.34% and traded at Rs. 140.20 after it released its December quarter shareholding pattern wherein the Foreign Portfolio Investors (FPI) raised their stake in the company during the December quarter.
Sobha Ltd.
The company reported its highest-ever quarterly sales volume during the October-December 2020 period, after which the stocks of the company traded higher by 7.83% at Rs. 442.80.
PNC Infratech Ltd.
Many fund houses bought shares of PNC Infratech in bulk deals, following which the company’s stocks surged by 4.18% and traded at Rs. 183.00. Axis MF acquired 22 Lakh equity shares of the company at Rs. 175 per share, while Nippon India Mutual Fund acquired 25 Lakh shares at the same price to name a few.
Weaker Global Market Cues
Global market indices ended in the red amid the rising concerns over the new strain of the virus. FTSE 100 declined by 0.58% and FTSE MIB went down by 0.37%, while Hang Seng tripped by 0.52%. In contrast, Nikkei 225 rose by 1.60%.