The domestic equity barometers ended with minor cuts after a volatile session on Tuesday. Despitr trading in the green for most part of the session, the key equity indices failed to extend their upward rally for eight day. The Nifty closed below the 18,450 mark. Realty stocks witnessed sharp sell-off.
As per provisional closing data, the barometer index, the S&P BSE Sensex, declined 49.54 points or 0.08% to 61,716.05. The Nifty 50 index lost 58.30 points or 0.32% to 18,418.75.
The Sensex hit a record high of 62,245.43 while the Nifty hit an all-time high of 18,604.45 in morning trade.
In the past seven sessions, the Sensex has advanced 4.35% while the Nifty had gained 4.71%.
In the broader market, the S&P BSE Mid-Cap index shed 1.98%. The S&P BSE Small-Cap index declined 1.79%.
Sellers outnumbered buyers. On the BSE, 985 shares rose and 2380 shares fell. A total of 124 shares were unchanged.
COVID-19 Update:
Total COVID-19 confirmed cases worldwide stood at 241,115,485 with 4,905,196 deaths. India reported 183,118 active cases of COVID-19 infection and 452,454 deaths according to the data from the Ministry of Health and Family Welfare, Government of India.
A total of 98,63,51,204 COVID-19 vaccine doses have been administered in the country so far, with over 87.23 lakh doses being given yesterday, according to the Co-WIN dashboard.
Buzzing Index:
The Nifty Realty index tumbled 5.30% to 513.10. The index had advanced 1.76% in the past two sessions.
Indiabulls Real Estate (down 7.17%), Macrotech Developers (down 6.68%), Oberoi Realty (down 6.46%), DLF (down 6.06%), Godrej Properties (down 4.91%), Sunteck Realty (down 3.55%), Sunteck Realty (down 2.99%), Prestige Estates (down 2.67%) and The Phoenix Mills (down 2.53%) declined.
Stocks in Spotlight:
Hindustan Unilever slumped 4.10% to Rs 2545.45. The FMCG major posted a 9% rise in standalone net profit to Rs 2,187 crore on an 11% increase in revenue from operations to Rs 12,516 crore in Q2 FY22 over Q2 FY21. EBITDA margin stepped up sequentially and stood at 25% in Q2 FY22.
During the quarter, the company reported domestic consumer growth of 11%. HUL said its performance was broad based with all three divisions growing competitively. Business fundamentals remained strong with more than three-fourths of the business gaining market share and penetration.
Sanjiv Mehta, chairman and MD said, September quarter witnessed a sequential improvement in trading conditions, albeit remained challenging with unprecedented levels of input cost inflation and subdued consumer sentiments. Large parts of our business continue to gain market shares and penetration. Looking forward, we remain cautiously optimistic about demand recovery.
TV18 Broadcast fell 1.39% to Rs 46.05. The broadcasting company posted an 86.67% increase in consolidated net profit to Rs 140 crore on a 29% rise in revenue from operations to Rs 1308 crore in Q2 FY22 over Q2 FY21.
Larsen & Toubro Infotech (LTI) soared 15.66% to Rs 6831.95. The company reported 11.1% increase in consolidated profit to Rs 551.70 crore on 8.8% rise in revenue to Rs 3767 crore in Q2 FY22 over Q1 FY22.
Route Mobile fell 3.52% to Rs 2183.60. The company posted a 22.58% jump in consolidated net profit to Rs 42.07 crore on a 15.4% increase in net sales to Rs 435.67 crore in Q2 FY22 as compared to Q1 FY22. The company's consolidated net profit has risen by 28.3% and net sales have risen by 24.7% in Q2 FY22 over Q2 FY21.
State Bank of India (SBI) declined 2.13% to Rs 487.25. SBI has allotted 6,000 Basel III compliant non-convertible, taxable, perpetual, subordinated, unsecured, fully paid-up debt instruments in the nature of debentures qualifying as AT-1 capital of the bank of face value of Rs 1 crore each, at par, bearing a coupon of 7.72% p.a. payable annually, aggregating to Rs 6,000 crore to bond subscribers on 18 October 2021.
Meanwhile, the Reserve Bank of India (RBI) on Monday imposed a monetary penalty of Rs 1 crore on SBI for non-compliance with the directions contained in 'Reserve Bank of India (Frauds classification and reporting by commercial banks and select FIs) directions 2016'.
Alok Industries tumbled 11.61% to Rs 23.60. The company's reported net loss of Rs 84.11 crore in Q2 FY22 as compared to a net profit of Rs 4,798.64 crore in Q2 FY21. Revenue from operations surged 134.24% to Rs 1,904.57 crore in Q2 FY22 over Q2 FY21.
TTK Prestige jumped 11.76% to Rs 9,860. The company said that its board will consider sub-division/split of equity shares of the company in its meeting scheduled on 27 October 2021.
H.G. Infra Engineering rose 2.65% to Rs 750.10. The company has been declared as L-1 bidder by National Highways Authority of India (NHAI) for two HAM projects.
Indian Energy Exchange (IEX) jumped 5.31% Rs 839.25. The board of directors of IEX will consider the proposal for declaration of bonus issue of equity shares in its meeting scheduled on 21 October 2021.
Global Markets:
European stocks mostly advanced while most Asian stocks ended higher on Tuesday. Investors mulled corporate earnings as well as the prospect of tightening monetary policy to restrain inflation.
Minutes from the Reserve Bank of Australia's October monetary policy meeting showed the RBA expecting the Australian economy to return to growth in the December quarter and to its pre-Delta path in the second half of 2022.
In US, the S&P and Nasdaq closed higher on Monday with the biggest boosts from the highest-profile technology and communications companies while investors eyed product news from Apple Inc and appeared optimistic about the third-quarter earnings season.
U.S. industrial production declined in September as supply constraints continued to hinder manufacturing. Output fell almost 1.28% to its lowest level since February, when it fell 3.02%, according to data released Monday by the Federal Reserve.
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