Taking Stock: RBI's accommodative stance, liquidity measure boost sentiment; Nifty above 12,100
Short term weakness shall be expected on a close below 12084 levels and in such a scenario initial target can be towards 11950 levels
Ajit Mishra, VP - Research, Religare Broking:
Markets consolidated in a range and settled in the green for the fourth successive session. The recent surge has negated the pessimism that we had around the budget however we’re seeing selective participation from the index majors. We might see a pause in the Nifty after the sharp rebound however the bias would remain on the positive side. Traders should focus more on stock selection.
SKF Q3 result: Company's net profit was down 42.2% at Rs 51 crore versus Rs 88 crore and revenue down 7.9% at Rs 707 crore versus Rs 768 crore, YoY.
Investors wealth increases by around Rs 6 lk cr: Investors wealth increased by Rs 5.97 lakh crore in four days against lost of Rs 7.2 lakh crore in previous week.
Market Close: Benchmark indices continued its upward momentum for the fourth consecutive day on February 6 with Nifty ended above 12,100 post RBI kept the repo rate unchanged at 5.15 percent.
At close, the Sensex was up 163.37 points at 41,306.03, while Nifty was up 44.50 points at 12,133.70. About 1366 shares have advanced, 1077 shares declined, and 172 shares are unchanged.
IndusInd Bank, Eicher Motors, Zee Entertainment, SBI and Bajaj Finance were among major gainers on the Nifty, while losers were Tata Motors, Cipla, Infosys, Titan Company and ITC.
Among sectors, FMCG and IT other indices ended on higher note as PSU bank index gained 2.5 percent followed by metal, energy, pharma and infra. BSE Midcap index rose 0.8 percent and Smallcap index added 0.5 percent.
Sun Pharma Q3 result: Sun Pharmaceutical Industries registered a 26.44 percent year-on-year degrowth in consolidated profit at Rs 913.52, declined from Rs 1,241.85 crpore in same period last year.
Buzzing: UCO Bank rose 10 percent on February 6 after company's Q3 net loss stood at Rs 960.2 crore versus loss of Rs 998.7 crore, YoY. Company's gross NPA was down by 240 bps at 19.5 percent and net NPA down by 100 bps at 6.3 percent, QoQ.
Lupin Q3 result: Company has posted consolidated net loss at Rs 835 crore versus loss of Rs 151.7 crore. Revenue was down 4.5 percent at Rs 3,769 crore versus Rs 3,947.3 crore, YoY.
Adani Power Q3 result: Consolidated net loss at Rs 702.4 crore versus loss of Rs 1,180.8 crore, revenue was up 4.3 percent at Rs 6,575 crore versus Rs 6,305 crore, YoY.
Eicher Motors Q3 result: The company has posted 2.5 percent decline in its third-quarter standalone net profit at Rs 488.9 croreversus Rs 501.4 crore in the year-ago period.