Benchmark indices plunged for the fourth consecutive session on Friday amid geopolitical tension in Europe and Middle-East. Foreign investors have also turned bearish which is hurting sentiments on the Street. The 30-share pack Sensex declined 474.44 points or 0.72 per cent to close at 59,037.18. The index has fallen 2271 points in the last four sessions. Its broader peer NSE Nifty fell 139.85 points or 0.79 per cent to 17,617.15. Investors were left poorer by Rs 3.36 lakh crore as the total market cap of BSE-listed firms, which reflects investor wealth, slipped to Rs 269.85 lakh crore. Investors have lost Rs 10.17 lakh crore in the market fall since Tuesday.
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Market mover: Supriya Lifescience gets reality check
Recently-listed Supriya Lifescience, which surged more than 100 per cent in the last three weeks, got a reality check on Friday after the company said its profit fell sharply quarter-on-quarter. The stock plunged over 17 per cent after the company said its profits declined 32 per cent sequential. Revenue also saw a drop compared to the September quarter. However, year-on-year, both revenue and profits saw an uptick.
Gold rises Rs 29 on global cues; silver jumps Rs 634
Gold prices rose Rs 29 to Rs 48,340 per 10 grams in the national capital on Friday following overnight gains in the international precious metal prices, according to HDFC Securities. In the previous session, the yellow metal had settled at Rs 48,311 per 10 grams. Silver prices also soared Rs 634 to Rs 65,112 per kg, from Rs 64,478 per kg in the previous trade.
Bandhan Bank Q3 results: Net profit rises 36% to Rs 859 cr
Bandhan Bank on Friday reported a 36 per cent rise in net profit at Rs 859 crore for the third quarter ended December 31, 2021. The private sector lender had posted a net profit of Rs 633 crore in the same period of the previous fiscal year.
Tech view: Nifty50 holding above 17,500 level key to index recovery
Despite a strong gap-down start, Nifty50 on Friday managed to close almost where it opened for the day, forming an indecisive ‘Doji’ candle on the daily chart. The index took support from its 50-day moving average and settled the day above the 17,600-500 range, a key support area analysts have been pointing out for the last couple of sessions.
Market continues its downward journey with 4th consecutive day of selling. Investors are advised to keep strict stop loss to their position and trade with small quantities as market continues to remain volatile in pre budget days.
– Rahul Sharma, co-owner, Equity 99
PTC India board to meet Jan 22 after allegations of irregularities
PTC India will hold its first board meeting on Saturday following recent allegations of lapses in governance and operations at its financial lending units. Rajib Mishra, the company’s chairman, did not elaborate on the agenda of the meeting. Mishra was addressing a news conference after shares of non-banking financial company PTC India Financial Services Ltd…
Read More: Stock Market Highlights Today: Nifty forms indecisive ‘Doji’ candle