After Bell Market Wrap-up: 20th July 2021

20 Jul 2021  Read 1015 Views

It’s red again. While last week, the outperforming stock market was expected to witness Nifty at an all-time high of 16,000 points, this week saw the market open in the RED for the second day in a row. Nifty opened at around 15,700 and Sensex at 52,432.88. This resulted from the weakly performing Asian and US markets amid concerns of the Covid-19 Delta variant.

A snippet of the markets today:

  • On the final day, Tatva Chintan IPO was subscribed 180.19 times.

  • Bajaj Finance, Asian Paints, CRISIL, Reliance Industrial Infrastructure, and a few others released their quarterly results.

  • Cadila Healthcare, SAIL, Punjab National Bank, and four others were under the F&O ban.

  • Tata Motors is all set to issue NCDs worth Rs. 500 crore on a private placement basis.

Stocks in the news

Quarterly results

A few companies that released their Q1FY22 results are:

Asian Paints

  • Consolidated net profit of Rs.574.3 crore, a growth of 161% YoY. 

  • Revenue from operations jumped by around 91% to Rs.5,585.4 crore.

  • The total income is reported at Rs. 5674.97 crore.

Bajaj Finance

  • Gross NPA is reported at 2.96% and net NPA at 1.46%.

  • Consolidated profit is reported at Rs1,002 crore, an increase of 4.2% YoY basis.

  • Interest income reversal for the quarter is Rs.451 crore compared to Rs.306 in the year-ago period.

Index performance

Indices 

Closing price

Change %

Sensex 

52,198.51

-0.68%

Nifty 

15,632.10

-0.76%

Nifty bank

34,415.45

-1.89%

Nifty PSU bank

2,388.05

-1.93%

Nifty IT

29,252.50

-0.04%

Nifty FMCG

36,230.25

+0.14%

 

Top gainers and losers of the day

Shyam Metalics hit the 52 week-high owing to amazing quarterly results. Share prices of Tata Motors dropped by around 1.5% after veteran investor Rakhesh Jhunjhunwala reduced his stake in the company. HDFC Life Insurance stock witnessed a decline by more than 2% due to the unsatisfactory first-quarter results. On the contrary, ACC stock rose by almost 7% post its second-quarter results. As SEBI and DRI investigation continue, stock prices of Adani companies drop. Adani power, total gas, and transmission dropped by almost 5% each.  

Few others that gained the most today are:

(Source: Ticker Top Gainers)

Few others that lost the most today are:

(Source: Ticker Top Losers)

Wrapping up

During the second half, the market showed signs of recovery. However, the indices did not manage to close in the green zone. Panic selling was noticed among the HNIs and retail investors. The FMCG sector closed in the green for the most part of it.

Cryptocurrency prices have suddenly crashed, wiping away $200 billion from the markets! Bitcoin has plunged below the closely-watched $30K mark, while other cryptos witnessed double-digit % losses. Though unclear, this crash coincides with a downturn in the global stock market & Dow Jones biggest one-day point drop since Oct, amid concerns of the highly contagious Covid-19 Delta variant.

That’s it for today. See you on Thursday…

Happy Investing!

About the Author: Kaveri Iyer | 54 Post(s)

Kaveri is currently pursuing a Master of Commerce specializing in Applied Finance. the Varied areas of interest include finance, music, literature, psychology and metaphysics. She loves the art of storytelling and has an unquenchable thirst for knowledge.

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