Tag: profit booking

Indian benchmark indices started flat, with a negative bias, today(9th Nov.2021) amid profit booking in financial, metals, and FMCG space. In early deals, the 30-pack Sensex index was at 60,531 levels, down 14 points or 0.02 percent. Its NSE counterpart, Nifty50, meanwhile, was unchanged at 18,068 levels. Divi's Labs, ONGC, M&M, Hindalco, and Tata Motors were the top-performing stocks on the 50-share index while Britannia, HDFC, HDFC Bank, Infosys, and Power Grid were the top laggards. On the contrary, the MidCap and SmallCap indices on the BSE were up 0.6 percent and 0.4 percent, respectively. Among individual stocks, TVS Motor Company surged 10 percent in the mid-cap space amid reports that the company is evaluating the possibility of a fund raising exercise for its Electric Vehicle business. Read more

Indian Railway Catering & Tourism Corp (IRCTC) stock tanked nearly 50 percent in two days after touching a record high of Rs 6396 on account of profit booking. It declined 18 percent to hit an intraday low of Rs 4371.25 on the Bombay Stock ExchangeThe market capitalization of the Indian Railway Catering and Tourism Corporation has declined to Rs 69,936 crore in intra-day trade today. It touched Rs 1.02 lakh crore in intra-day trade on Tuesday and has been included among nine stocks/securities under futures and options (F&O) ban for trade by the National Stock Exchange (NSE) on Wednesday, October 20, 2021. On this speculation, investors started squaring up their positions and booked profits in the stock. In the past six months, the market price of IRCTC has appreciated by nearly 300 percent from the level of Rs 1,612, as compared to a 30 percent rally in the S&P BSE Sensex during the same period till yesterday. Read more

Today (10th August 2021) shares of mid and small-cap companies came under pressure, falling by up to 18 percent on the BSE amid profit booking. At 02:04 pm, the S&P BSE Midcap index and the S&P BSE Smallcap index were down 1 percent and 2 percent, respectively. In comparison, the benchmark S&P BSE Sensex was up 0.23 percent at 54,527 points. With today's fall, mid-and small-cap indices have corrected 3.3 percent and 4.6 percent, respectively from their respective all-time highs touched on August 4, 2021. Prior to that, the S&P BSE Midcap index had rallied 29 percent, and the S&P BSE Smallcap index had zoomed 48 percent in the calendar year 2021. Read more

Bulls were in control today and market breadth was buoyant. Expectations of a good quarter for Textile exporters aided by a weak rupee kept several companies in this space buzzing through the day. Profit booking in several Largecaps & High-Quality Midcaps was witnessed. The 30-share pack Sensex climbed 397.04 points or 0.76 percent to close at 52,769.73. Its broader peer NSE Nifty rose 119.75 points or 0.76 percent to 15,812.35. Read more

Shares of LIC Housing Finance slid 4 percent to Rs 501 on the BSE in intra-day trade today(16th June 2021) as investors booked profit after the company reported a good set of numbers for the March quarter (Q4FY21) on the operating and business growth front. However, a steep rise in provisions dented profitability. The board approved a dividend at 425 percent i.e. Rs 8.50 per equity share of Rs 2 each for the financial year 2020-2021. The stock has corrected 8 percent from its 52-week high level of Rs 542, touched on Friday (June 11, 2021) with today’s decline. Despite the past couple of days' fall, LIC Housing Finance has outperformed the market by gaining 18 percent, as compared 8 percent rise in the S&P BSE Sensex in the past month.