Markets were in a volatile session during the Friday's opening bell. IT stocks continue to drag benchmarks Sensex and Nifty for the second consecutive day as tech biggies present their Q3 financial performance. Auto, banking and healthcare also recorded substantial selloff. On the broader term, markets witnessed a lacklustre trading session.
At around 09.37 am, Sensex was trading at 49,349.28 down 234.88 points or 0.47%. The index has tumbled to an intraday low of 49,308.07.
As for Nifty 50, the index hovered at 14,536.50 down 59.10 points or 0.40%. The index has touched an intraday low of 14,517.50.
Stocks that will be in focus are -
Bharti Airtel, HDFC Life, HCL Tech, L&T Infotech, Den Networks, SAIL and PVR among others.
Top gainers on Sensex were - Bharti Airtel (+4%) followed by
ONGC, Titan, SBI and Nestle soaring between 0.5% to 1%.
Top underperformers on Sensex were - Tech Mahindra (-2%) followed by Ultratech Cement, Asian Paint,
Infosys, IndusInd Bank and TCS diving over 1% each.
HCL Tech recorded a net profit of Rs3,982cr in December 2020 (Q3FY21) quarter, increasing by 31% yoy. While revenue climbed by 6.4% yoy to Rs19,302cr in the quarter.
Companies that are set to announce their Q3 result today are -
HCL Technologies, L&T Finance Holdings, PVR, Shoppers Stop, Bhakti Gems and Jewellery, Aditya Birla Money, Gautam Gems, Hathway Cable & Datacom, Indo Asian Finance, Mardia Samyoung Capillary Tubes, Next Mediaworks, Onward Technologies, Plastiblends India, Soril Infra Resources, Yaarii Digital Integrated Services and Ardi Investment.
On the sectoral indices basis - BSE IT tumbled by 316.92 points at 26,555.16 emerging as the top underperformer followed by BSE Bankex at 36,723.26 down 180.77 points and BSE Auto at 22,943.11 lower by 155.84 points. BSE Healthcare shed 119.39 points at 22,180.15.
On Friday, Asian stocks, U.S. equity futures and Treasury yields retreated as with few surprises to catch investors off guard, the focus was now shifted towards President-elect Joe Biden’s much-anticipated $1.9 trillion Covid-19 relief plan.
Japan's Nikkei 225 shed 100 points. While the Shanghai SE Composite Index down 0.53%. South Korea's KOSPI down 1.5%. Mumbai Sensex was also in the downside. Hong Kong's Hang Seng traded subdued. However, Australia ASX All Ordinaries
and Taiwan TSEC 50 Index were in the green but the upside was at a slower pace.