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POST-MARKET REPORT
The Indian equity ended lower amid mixed global cues and selling in information technology and FMCG names in a highly volatile session.
At close, the Sensex was down 195.16 points or 0.26 percent at 73,677.13, and the Nifty was down 49.30 points or 0.22 percent at 22,356.30.
Top Nifty gainers were Tata Motors, Bharti Airtel, Bajaj Auto, SBI and ONGC, while losers were Bajaj Finserv, Bajaj Finance, Nestle India, Infosys, and SBI Life Insurance.
Among the sectors, a mixed trend is seen as the auto index is up 1.3 percent, the PSU Bank index is up 2.5 percent and oil & gas, power, and realty are up 0.5 percent each, while IT and FMCG indices shed 1 percent each.
The BSE midcap index ended flat and the smallcap index shed 0.6 percent.
The rupee settled 1 paisa higher at 82.89 against the US dollar.
STOCKS TODAY
Tata Motors: The Tata Motors stock gained 3.59 percent, a day after the company announced the decision to split its passenger and commercial vehicle businesses. Brokerages said the decision will unlock value for the company as well as investors.
Paytm: The Paytm stock fell 3.16 percent as 58.2 lakh shares or 0.92 percent of equity changed hands. According to a CNBCTV18 report, 0.92 percent of equity worth Rs 241 crore changed hands at an average of Rs 414 a share.
Infibeam Avenues: Shares of Infibeam Avenues rallied 5.7 percent a day after the AI-powered fintech company received the final authorization from the Reserve Bank of India to operate as a payment aggregator under the Payment Settlements Act, 2007 for CCAvenue.
IIFL Finance: Shares of IIFL Finance slumped 19.99 percent and hit the lower circuit after the RBI asked the company to stop sanctioning or distributing gold loans due to material supervisory concerns.
Delhivery: The Delhivery stock rose 1.17 percent after Kotak Securities upgraded the stock to “buy” and increased the target price to Rs 570 from Rs 500. The brokerage said the company’s unique position among e-commerce players and its business model allows it to magnify its gains from volume gains.
Muthoot Finance: Shares of Muthoot Finance and Manappuram Finance gained after the RBI slapped restrictions on rival IIFL Finance over material supervisory concerns in its gold loan portfolio.
Samvardhana Motherson: The Samvardhana Motherson stock gained 5.6 percent with strong trading volumes. Around 5 crore shares changed hands compared to the monthly average of 1 crore.