Equity indices volatile ahead of Economic Survey
Jan 29, 2021
Mumbai (Maharashtra) [India], January 29 : Equity benchmark indices erased early gains and traded flat during early hours on Friday ahead of the Economic Survey to be tabled in Parliament.
At 10:15 am, the BSE S&P Sensex was up by 93 points or 0.2 per cent at 46,967 while the Nifty 50 ticked up by 46 points or 0.33 per cent to 13,863.
Except for Nifty FMCG and pharma which dipped slightly, all other sectoral indices at the National Stock Exchange were in the green with Nifty realty gaining by 1.5 per cent, auto by 1 per cent, private bank by 0.7 per cent and PSU bank by 0.4 per cent.
Among stocks, IndusInd Bank was up by 3.4 per cent to Rs 830.25 per share while Bajaj Finance moved up by 2 per cent to Rs 4,910.15.
The other major gainers were TVS Motors Company which rose by 10 per cent after announcing Q3 results, Tata Motors, Hero MotoCorp, Mahindra and Mahindra, Adani Ports, ONGC and UPL.
However, those which lost were Axis Bank, Maruti Suzuki, Hindustan Unilever, Britannia, Titan, Bharti Airtel and Tata Consultancy Services.
Meanwhile, Asian stock markets recovered but were headed for their steepest weekly loss in months as a liquidity squeeze in China and a Wall Street retail trading frenzy unnerved investors.
MSCI's broadest index of Asia Pacific shares outside Japan rose by 0.9 per cent. Japan's Nikkei was steady, the Hang Seng Index in Hong Kong opened 1 per cent higher and the Shanghai Composite rose by 0.6 per cent.
