Indian indices ended over a percent lower on Monday dragged by a major sell-off across all sectors during the day. Losses were led mainly by metals, pharma and auto stocks.
The Sensex ended 470 points lower at 48,564 while the Nifty lost 152 points to settle at 14,281. The broader markets were also lower for the day with the midcap and smallcap indices down 2.4 percent and 2 percent, respectively.
Among sectors, the Nifty Metal index lost the most, down 4.5 percent followed by Nifty Pharma, which fell 3 percent. The Nifty IT and Nifty Auto indices fell around 2 percent each while the Nifty Bank and Nifty Fin Services lost over 1.5 percent.
Here are key stocks that moved the most today:
HDFC Bank: HDFC Bank rallied over 2 percent to hit a fresh 52-week high of Rs 1,500 apiece in intraday deals after the bank reported strong earnings for the quarter ended December 2020, beating street estimates. HDFC Bank reported an 18.1 percent growth in net profit during the third quarter of fiscal 2021 at Rs 8,758.3 crore as against Rs 7,416.5 crore in the same quarter of the previous fiscal. CNBC-TV18 poll had estimated a profit of Rs 8,264.8 crore. The stock ended a percent higher at Rs 1,481.60.
Metal stocks: Metal stocks sank on Monday on the back of media reports that China is considering allowing some stranded Australian coal cargoes amid a ban on coal imports from Australia. As per the report, the deliberations are at an initial stage and any decision would need the approval of more senior Chinese leaders. The shipments that could be cleared are those that arrived before a ban on Australian coal went into effect, added the report. SAIL, JSPL, Hind Copper, Tata Steel and NMDC lost 5-6 percent during the day.
L&T Finance Holdings: L&T Finance Holdings fell 6 percent after the company declared its Q3 numbers. L&T Finance Holdings on January 15 reported a 51 percent decline in consolidated net profit at Rs 287.75 crore during the third quarter ended December 31, 2020. The company's net profit stood at Rs 591.47 crore during the same period in the previous fiscal. The non-banking financial company's (NBFC's) total income during the quarter under review declined to Rs 3,622.16 crore from Rs 3,735.79 crore in the year-ago quarter.
UPL: Shares of UPL hit an over 11-month high of Rs 555, up over 6 percent, on the back of heavy volumes in an otherwise subdued market.
JBM Auto: The stock rose 5 percent after the company bagged an order for the supply of 700 buses from Delhi Transport Corporation. JBM Auto informed the stock exchanges that the Company has received orders for the supply of 700 units of JBM 'CITYLIFE' fully air-conditioned BS-VI CNG low-floor buses from Delhi Transport Corporation vide its Letter of award dated 15-01-2021.
(Edited by : Pranati Deva)
First Published: Jan 18, 2021 3:40 PM IST
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