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Feb 4, 2022 5:17 PM

Market This Week | Sensex, Nifty50 rise after two straight weekly losses

Here are some highlights:

--Nifty Bank rises for 2nd straight week; IndusInd, Axis Bank top gainers

--Nifty, Sensex, midcap index gain over 2% each; Nifty Bank up 3%

--Except Nifty PSU, all sectoral indices rise

--37 of 50 Nifty stocks gain; Divi’s, Tata Steel, Sun Pharma top Nifty gainers

--NTPC, M&M, UPL, SBI Life, BPCL, Coal India top Nifty losers

Feb 4, 2022 5:08 PM

Q3 Results | IndiGo surprises Street with net profit of Rs 128 crore

InterGlobe Aviation reported a net profit of Rs 128.4 crore for the October-December period. Its quarterly revenue came in at Rs 9,294.7 crore, as against Rs 5,142.5 crore for the corresponding period a year ago.

Analysts in a CNBC-TV18 poll had expected the company to post a net loss of Rs 818 crore and revenue of Rs 8,097 crore for the quarter ended December 2021.

IndiGo shares ended 1.8 percent higher at Rs 1,974.3 apiece on BSE ahead of the earnings announcement.

Feb 4, 2022 5:00 PM

Buy on decline as long as Nifty trades above 17,250: Manish Shah

Independent technical analyst Manish Shah believes it is still a 'buy on decline' market as long as the Nifty trades above 17,250.

"The two-day decline in the Nifty is seen as a corrective decline of the upmove from 16,860 and is interpreted as a short-term decline. The Nifty needs to rally above 17,680-17,700 to signal a continuation of the upmove towards 18,100-18,200 levels," he said.

Feb 4, 2022 4:51 PM

Rupee ends higher at 74.70 against US dollar

The rupee closed at 74.70 against the greenback. On Thursday, it had settled at 74.86.

Feb 4, 2022 4:34 PM

Positive on Bajaj Auto but in no hurry to enter two-wheelers: Neeraj Deewan

Neeraj Deewan, Director at Quantum Securities, is positive on Bajaj Auto but is in no rush to enter the two-wheeler space. "One thing is clear that there is definitely pressure on margins (for two-wheelers) because of the raw material because of supply constraint and of course, demand is not picking up like the way it should have picked up. So there is pressure on both sides. So I would rather wait it out and see them making a base," he said.

"Bajaj Auto is a very stable performer and once it makes a base and you get some clarity on raw material, and it is able to increase the price a bit, if demand picks up, it is the one which really catches up because of the good export franchise... In the auto space, I am more bullish on the commercial vehicle space," he said.

Feb 4, 2022 4:18 PM

Market At Close | Hindalco, ONGC, Sun Pharma, Asian Paints, Divi's top blue-chip gainers

UltraTech, Tata Steel and JSW Steel were also among the gainers. On the other hand, Hero MotoCorp, SBI, M&M, NTPC, Eicher, Bajaj Auto and HDFC Life were the worst hit among the 34 laggards in the Nifty50 pack.

Here's how the 30-scrip basket fared:

Feb 4, 2022 4:14 PM

Market At Close | Sensex, Nifty extend losses to 2nd straight day

Here are some highlights:

--Nifty Bank slips 221 points to 38,789

--Midcap index down 232 points at 30,442

--Auto, financial stocks top Nifty losers

--ITC fails to hold on to intraday gains after strong Q3 numbers, ends flat

--SBI falls 2% ahead of Q3 earnings on Saturday

--ONGC rises 1%; crude prices continue to rise, Brent above $90/barrel

--Sun Pharma hits 52-week high

--Alkem Labs, Firstsource, AB Fashion Retail down aftert Q3 earnings

--Godrej Properties falls 10% as brokerages find DB Realty a --negative

--Torrent Power, Hindustan Copper, Cholamandalam Investment, Vedanta, PI Indusrties top midcap gainers

--M&M Financial falls for 2nd day after weak Q3 earnings (Read more on the closing bell)

Feb 4, 2022 4:08 PM

Market overreacting on Godrej Properties: Prakash Diwan

Market expert Prakash Diwan said in an interview to CNBC-TV18 that in his view, the market is overreacting on Godrej Properties. The market didn't expect something like this from the company, he said.

"But somewhere, I'm sure people will kind of reconcile to that and it might not be as ugly as it seems... What came through from the Godrej Properties side was something which the market is not used to. If Godrej has to spread its wings within the Mumbai market, and has have to move beyond this whole JV model, it will have to do something to participate in the mass housing market as well. So I don't see any reason why that should be looked at with such a negative," he said.

Feb 4, 2022 4:04 PM

Nifty needs to conquer 17,800 for a clear bull rally: Manish Hathiramani

Manish Hathiramani, Proprietary Index Trader and Technical Analyst at Deen Dayal Investments, believes a definite trend is yet to emerge in the Nifty. "On the upside the Nifty needs to conquer 17,800 for a clear bull rally to take off. On the downside, 17,200 needs to break on a closing basis for the trend to turn bearish. Until one of the two levels is not taken out, the market will remain volatile," he said.

Feb 4, 2022 3:49 PM

Firstsource cuts FY22 revenue guidance to 14-14.5% from 14.5-15.5%

The company lowered its revenue guidance for a second straight quarter.

Firstsource Solutions shares ended 6.4 percent lower at Rs 152.7 apiece on BSE after the news.

Feb 4, 2022 3:40 PM

Closing Bell | Sensex down 143 points at 58,645, Nifty50 at 17,516

Headline indices ended a choppy session lower, extending losses to a second straight day. The 30-scrip index shed 143.2 points or 0.2 percent to close at 58,644.8 and the broader Nifty50 benchmark settled at 17,516.3, down 43.9 points or 0.3 percent from its previous close.

Feb 4, 2022 3:37 PM

Constructive on financial, housing mortgage companies: Rupen Rajguru

Rupen Rajguru, Head-Equity Investment and Strategy, Julius Baer is constructive on stocks of financial and housing mortgage companies. "The rally after the correction in December has been led by financials. IT led it down, and banking and financials led it up. Within banks, our focus is on large private sector ones and the largest PSU bank. We believe growth of the economy is back and so large financials, which have a very strong liability franchise, will gain market share," he said.

Feb 4, 2022 3:32 PM

RBI, Finance Ministry in talks to bring in 2 versions of central bank digital currency: Sources

Feb 4, 2022 3:26 PM

Facebook Sell-Off: Key factors behind worst one-day crash in market history

Facebook owner Meta's shares crashed 25 percent on Thursday, losing more than $200 billion -- the worst single-day fall by any company in the history of US stock market. CEO Mark Zuckerberg lost $29 billion.

The drop in the share price came after Meta released its quarterly numbers. (Read more on Meta shares)

Feb 4, 2022 3:21 PM

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