MARKET UPDATE: Sensex trading 400 points down at 46,990 levels and Nifty slipped below 13,900
Published On: Thursday, January 28, 2021 | By: Team KnowMyStock
The benchmark indices in India continued their weak run and fell one percent in today's(28th January 2021) morning deals, ahead of the monthly derivatives contracts expiry later in the day. Among the headline indices, the S&P BSE Sensex was trading 400 points down at 46,990, thus giving up the psychological mark of 47,000. The index fell to as low as 46,821 in intra-day deals. The broader Nifty50 index, meanwhile, slipped below 13,900. The HDFC twins fell 2 percent, each, and were the top Sensex drags. Besides, Sun Pharma, HCL Tech, and PowerGrid were also down 2 percent, each. On the other hand, RIL was up 1 percent. The Nifty sectoral indices were trading weak, with the Nifty PSU Bank index, down 2 percent, faring the worst. In the broader markets, the S&P BSE MidCap and SmallCap indices fell 0.6 percent and 0.8 percent, respectively.
One hundred and twenty-nine companies, including Maruti Suzuki India, Lupin, InterGlobe Aviation, Colgate-Palmolive, IRCTC, and TVS Motor Company, are slated to announce their quarterly earnings today.
Analysts are building up to 30 percent year-on-year (YoY) growth in Maruti Suzuki's bottom-line while revenue is seen growing in the early teens, on account of strong volume during the quarter.
Amid improved traffic and cost-saving measures, analysts are baking in strong sequential growth in IndiGo’s earnings even as the figures may be half of the previous year.
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