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Feb 01, 2020 03:36 PM IST | Source: Moneycontrol.com

Closing Bell: Investors give thumbs down as Sensex crashes almost 1000 pts; ITC, HDFC top losers

All sectoral indices are trading in the red with the auto, infra and the metal index being the top losers.

  • February 01, 2020 05:43 PM IST

    Chambal Fertilisers Q3 result: Consolidated net profit at Rs 479.2 crore versus Rs 159.6 crore and revenue was up 36.5% at Rs 3,832 crore versus Rs 2,807 crore, YoY.

  • February 01, 2020 05:41 PM IST

    Dhiraj Relli, MD & CEO, HDFC Securities:

    The markets have reacted negatively to the Budget, mainly due to some disappointments on account of non-abolition of LTCG, confusion about the impact of DDT removal and taxing dividends in the hands of recipients.

  • February 01, 2020 05:37 PM IST

    Nilesh Ramesh Jain, Derivative analyst- Equity Research, AnandRathi:

    We expect tepid start on Monday with negative bias. As long as it trades below 11800 levels we expect some consolidation in the range of 11500-11800 zone. However, it ended the extended session near its 200-DMA which is placed at 11650. 

  • February 01, 2020 05:29 PM IST

    Nilesh Shah, MD & CEO, Kotak Mahindra Asset Management Company:
     
    The budget is good on intent. However, the key is efficient execution in a time-bound manner. There are many positives to simplify things and encourage entrepreneurs but again, key will be execution in a time-bound manner. Intent needs to be converted into implementation. 

  • February 01, 2020 05:03 PM IST

    Amar Ambani, Senior President and Head of Research, Institutional Equities, YES Securities:

    We are quite satisfied with the budget math. Tax receipts appear achievable, especially once some flow comes through the amnesty scheme for direct tax cases. Likewise, disinvestment proceeds will also be large with LIC IPO on the cards. On the expenditure front, 13% yoy growth budgeted for FY21 matches with our estimate. Ramp up in GST revenues is a key monitorable.

  • February 01, 2020 04:56 PM IST

    Shrikant Chouhan, Senior Vice-President, Equity Technical Research, Kotak Securities:

    We feel that the budget is balanced and has taken care of a number of sectors. It will certainly have a positive impact in the long run. Technically, the short-term trend is weak and is likely to continue for the next few trading sessions. 

  • February 01, 2020 04:45 PM IST

    Motilal Oswal, Managing Director & CEO, Motilal Oswal Financial Services:

    Markets have taken a cautious view on the budget, the tax rate cut and DDT benefit will help economy to grow and corporate payouts to increase, at these levels one should buy for long term.

  • February 01, 2020 04:31 PM IST

    Nirmal Jain, Founder & chairman of IIFL:

    Dividend Distribution Tax (DDT) has been abolished and therefore obviously foreign investors will benefit but then it becomes fully taxable in the hands of shareholders which is not the right way of doing it because shareholders are also owners and as owners of the company they pay tax on profits and it gets taxed again. So, this might change the dividend culture of many companies, it will impact the private sector investment which has been very sluggish for the last 2 to 3 years at least.

  • February 01, 2020 04:22 PM IST

    Finance Minister Nirmala Sitharaman on market crash: I would wait for a full working day at the stock market. Not sure if every aspect of the market was open today. We will wait for Monday. I am confident that when the market opens on Monday, we will see a positive reaction.”

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