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Markets at a Glance:
Though the percentage growth is little slower, markets still maintained their positive momentum on 10th consecutive session. Nifty grew by 36.55 points and settled at 11971.05, while Sensex moved up by 169.23 points and closed at 40794.74.
Only Auto, Pharma and IT sector shares were in red, otherwise remaining sectors showed positive movement. India VIX, which measures fear in the overall markets, also plunged by 2.43%.
Top Gainers/Losers:
Bajaj FinServ, SBI Life Insurance, Bajaj Finance, IndusInd Bank and ICICI Bank were among the top gainers in today’s session. On the other hand, Wipro, NTPC, ONGC, Coal India and Tata Motors took the most beatings.
DII/FII Data:
DII continued their sell-off and took away Rs.1276.14 crore, while FII invested Rs.821.86 crore in Indian markets.
| CATEGORY | DATE | BUY VALUE (₹ Crores) | SELL VALUE (₹ Crores) | NET VALUE (₹ Crores) |
| DII | 14-Oct-20 | 2,962.67 | 4,238.81 | -1,276.14 |
| FII/FPI | 14-Oct-20 | 7,151.46 | 6,329.60 | 821.86 |
Karnataka Bank reports strong Q2 numbers,
Karnataka Bank reported 12.69% rise in its net profit over YoY basis in second quarter of FY21. It posted Rs.119.44 crore profit for Q2, as compared to Rs.105.91 crore profit reported in same quarter last year. Price of its share also rallied up by almost 4% and settled around Rs.43.65.
Bank’s Net NPA also declined to 2.21% from 3.48%. Also deposits grew from Rs 70,189.65 crore to Rs 72,922.58 crore.
Wipro’s buyback plan didn’t excite investors, stock plunges by 7%:
IT major, Wipro’s share buyback price of Rs.400 per share disappointed shareholders, as it was just 6% higher than yesterday’s closing price. Moreover, global brokerages like JP Morgan, Citi and Goldman Sachs gave ‘Sale’ rating to Wipro stock. They found it to be expensive at this stage.
Strangely, domestic brokerages like ICICI securities have maintained ‘Buy’ rating on the stock.
Infosys announced its Q2 Results: profit jumps by 20.5% on YoY basis
Infosys reported a net profit of Rs.4845 crore which is 20.5% higher than last year’s same quarter. Company’s revenue also increased by 3.2% on YoY basis to $3312 million, in dollar terms. Infy also declared an interim dividend of Rs.12 per share.
Company declared its Q2 earnings after market hours. Its share price was down by 1.7% at Rs.1138 ahead of Q2 results.
WPI based Inflation rises to 1.32%, highest in last seven months:
As per the data released by Office of the Economic Advisor, WPI based inflation soared to 7-month high of 1.32% in September month. The jump in WPI is primarily due to increase in food prices. In last month, it stood at 0.16%.
This WPI indicates second straight positive inflation reading after four months of negative reading from April till July. Government and RBI refer CPI data for calculating inflation.