MARKET UPDATE:volatile session; Sensex fell 120 points to 49500 and Nifty fell below 14,550
Published On: Friday, January 22, 2021 | By: Team KnowMyStock
The Indian benchmark indices inched lower in the morning deals of today's(22nd January 2021) volatile session, dragged by Reliance Industries and private banks. The S&P BSE Sensex fell 120 points to 49,500 and the broader Nifty50 index fell below 14,550. Bajaj Auto gained 6 percent and was the top Sensex gainer, followed by Mahindra & Mahindra and Asian Paints (both up 1%). On the other hand, Axis Bank and HDFC fell1 percent, each. Reliance Industries also slipped 1 percent ahead of its quarterly results later in the day. Among other individual stocks, Biocon tumbled 9 percent while SBI Card rose as much as 4 percent after announcing their respective December quarter results. The Nifty sectoral indices were mixed, with the Nifty Auto index, up 3 percent leading the gainers.
The broader markets, however, outperformed their benchmark peers, with the S&P BSE MidCap and SmallCap indices trading 0.4 per cent 0.3 per cent higher, respectively.
Fourty-one companies, including Reliance Industries, Yes Bank, and HDFC Life Insurance Company, scheduled to announce their quarterly earnings.Driven by a strong rebound in petrochemicals business, and supported by growth in the retail segment, Reliance Industries is expected to clock a 32 per cent sequential improvement in its net profit for the December quarter of the current financial year (Q3FY21) at Rs 12,600 crore.
Tags: Indian equity market Sensex Nifty
We are on Telegram!
JOIN our telegram channel to receive updates on Financial News and Stock and FNO Tips.
Click Here!
Follow Us On:
