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market recape

Market update for 4 February 2021- NSE/BSE -Stock Market

Key update of markets

Indices at 10:00 am

        Nifty50 14,762 β–Ό 27 (-0.1%) 

          Sensex 50,115 β–Ό 139 (-0.2%)

          Nifty Bank 34,366 β–Ό 391 (-1.1%)


In the news

Bharti Airtel posts record revenues in Q3

  • The telecom major posted consolidated net profits of β‚Ή854 crore in Q3 after six consecutive loss-making quarters. The stock has gained 9% this week and hit its lifetime high of β‚Ή623 today. 
  • At β‚Ή26,518 crore, total revenue was up 24.2% YoY and was the company’s highest-ever quarterly figure supported by growth in user base along with a rise in its average revenue per user (ARPU). Its mobile ARPU stood at β‚Ή166, up 23% YoY.

Ujjivan SFB posts a loss as provisioning rises

  • Ujjivan Small Finance Bank reported a net loss of β‚Ή279 crore in Q3 FY21, mainly on account of higher provisioning. The bank posted a net profit of β‚Ή90 crore in the same period last fiscal.
  • The bank’s net interest income was up 1.2% at β‚Ή432 crore as against β‚Ή427 crore. Its net NPA stood at 0.05% compared to 0.4% last year. Without the effect of the Supreme court’s order, the net NPA would have risen to 2.05%. The stock was trading 6.3% lower today.

Pipes makers fare well in Q3

  • Plumbing pipe maker Astral’s Q3 standalone revenues rose 33% YoY to β‚Ή693 crore and net profit rose 80% YoY to β‚Ή104 crore. The recovery in sales picked up momentum in Q2 and further accelerated in Q3. The stock has gained 13% this week and is trading flat today. 
  • Similarly, Prince Pipes reported a 39% YoY rise in revenues to β‚Ή549 crore and a 175% YoY growth in profits to β‚Ή67 crore. The stock is up 27% this week and is trading 12% higher today.

Crude oil rises on reduced output

  • The OPEC+ alliance of major oil producers continued to maintain their reduced output policy in its recent meeting. Further, US crude oil inventories declined contrary to street expectations of a rise, adding upward pressure on the prices. 
  • The price of crude oil has gained nearly 7.5% this week and is up 0.7% today. 

Events this week

  • Thursday: Initial jobless claims (US)
  • Friday: RBI interest rate decision (India)

Sectoral indices

Top gainersTop losers
Nifty Auto
β–² 1.8%
Nifty Bank
β–Ό 1.0%
Nifty PSU Bank
β–² 1.0%
Nifty Fin serv
β–Ό 0.7%
Global marketsToday’s movement
Nikkei 225 (Japan)β–Ό 0.8%
Hang Seng (Hong Kong)β–Ό 1.4%
SSE Composite (China)β–Ό 1.0%
Dow Jones (US)β–² 0.1%

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