NEW DELHI: Equity benchmarks Sensex and Nifty closed in the negative territory on Monday, hit by an all-round selling ahead of key macroeconomic prints such as retail inflation and IIP, slated for release on Tuesday.
However, improved global sentiment and rupee’s rise on softer crude oil prices saved stocks from suffering heavy losses.
Global markets rose, as investors eyed the resumption of trade talks between the United States and China and watched for signs of progress on Brexit, Reuters reported.
Sensex settled 151 points, or 0.41 per cent, down at 36,395.03, with 14 stocks up and 17 stocks down.
The NSE Nifty index closed the day 55 points, or 0.50 per cent, lower at 10,888.80, with 21 stocks in the green and 29 in the red.
Midcaps and smallcaps suffered more than the heavyweights as their sectoral indices on the BSE fell up to 1.51 per cent.
We walk you through the highlights of Monday’s session:
Eicher Motors Q3 profit flat
Eicher Motors reported a 2.39 per cent year-on-year (YoY) rise in consolidated net profit at Rs 532.95 crore for December quarter, which was marginally better than Rs 523 crore net estimated by analysts in an ET Now poll. Shares of the company closed 0.79 per cent down at Rs 20,674.70 on the BSE.
Max Financial plunges 5%
Snapping their three-session winning run, shares of Max Financial Services closed 4.99 per cent down at Rs 376, even as the company posted a rise of 41 per cent in standalone profit at Rs 139.89 crore for December quarter. The company also reported some transition in leadership at group level in a separate regulatory filing which, as per the company, was in line with the transition plan announced last year.
Motherson Sumi shares fall on Q3 numbers
Shares of Motherson Sumi Systems suffered a loss of 1.70 per cent to close at Rs 132.75 after it reported 1.19 per cent drop in consolidated profit at Rs 554.99 crore.
Hotel Leela gains on Brookfield deal
ETNow reported that Brookfield will buy four hotels and a land parcel owned by Hotel Leelaventure for around Rs 4,500 crore. The major chunk of the deal will be used to pay 14 lenders of Hotel Leela, which has a debt of around Rs 3,700 crore. Shares of the company closed 1.09 per cent higher at Rs 13.01 on the BSE.
SpiceJet Q3 profit dives
SpiceJet reported a profit of Rs 55.1 crore for October-December. The airline’s net fell 77 per cent over the same period last fiscal, when the airline had registered profits of Rs 240 crore. Shares of the company closed 2.42 per cent up at Rs 80.30.
Tata Steel climbs 2%
Shares of Tata Steel climbed 2.31 per cent to close at Rs 480.40 after the company on Friday reported 54.31 per cent year-on-year (YoY) rise in profit at Rs 1,753 crore for December quarter. Global financial firm HSBC is optimistic on the stock, placing it as their preferred pick in the ferrous sector. HSBC has maintained a ‘Buy’ call on the stock with a target price of Rs 600 per share, highlighting that deconsolidation of overseas assets and improving strength may help the stock rerate. ICICI Securities has a ‘Hold’ call on the stock with a target price of Rs 477, while SBI Capital has a ‘Buy’ call on the stock with a target price of Rs 664 per share.
77 stocks show potential fall
Momentum indicator moving average convergence divergence, or MACD, showed bearish crossovers on 77 counters on the BSE, signalling a potential fall in those counters in coming sessions. Among the stocks that gave bearish signals were Mahindra & Mahindra, Larsen & Toubro, JSW Steel, Indraprastha Gas, VIP Industries, Jindal Saw and Mahanagar Gas. On the other hand, 67 stocks, including Vodafone Idea, Jindal Stainless, Mindtree, Petronet LNG and Caplin Point Laboratories showed bullish crossovers.
Over 400 stocks plumb 52-week lows
Coal India, Indiabulls Housing Finance, JSW Steel, Mahindra & Mahindra, MRF, NTPC, Vedanta and SAIL featured among the 434 stocks that touched their 52-week lows on the BSE.
250 stocks hit lower circuit
Graphite India, IL&FS Transportation Networks, Kwality, SORIL Infra Resources, Leel Electricals and Punj Lloyd were among the 248 stocks that hit lower circuit today. On the other hand, Shankara Building Products, Oriental Trimex, Uttam Galva Steels and Zee Media featured among the 102 stocks that hit their upper circuit.