Market update: As Sensex, Nifty begin volatile trading session, here are some stocks to watch for
Sensex and Nifty incurred losses of 0.72 per cent and 0.79 per cent respectively to settle the day at 17,617.15 and 59,037.18 on Friday
With last week’s losses still fresh, NSE Nifty 50 and BSE Sensex entered the new trading session on Monday, 24 January, with a negative outlook. While Sensex fell by 1.06 per cent to 58,413.71, Nifty slipped 1.23 per cent to 17,401.30 by 11:07 am this morning.
According to a Financial Express report, weak global cues and selling by foreign investors are likely to strengthen the bears on Dalal Street today as well. On Friday, 22 January, Sensex and Nifty incurred losses of 0.72 per cent and 0.79 per cent respectively to settle the day at 17,617.15 and 59,037.18.
Amid the volatility of the market, here are some stocks you can watch out for on Monday:
ONGC: The overseas arm of Oil and Natural Gas Corporation, ONGC Videsh, has announced that a 2019 discovery of a gas field in deep sea block in Brazil is ‘commercially viable’, according to Financial Express. The company has entered the development stage to start production at the deep sea block.
Reliance Industries Limited: The company posted a positive quarterly earnings performance with strong growth in all verticals. According to reports, net profit rose to Rs 18,549 crore, indicating a rise of 41.5 per cent on-year basis.
Yes Bank: In the October-December quarter, the net profit of the bank rose to Rs 266 crore, indicating a gain of 77 per cent on-year basis.
ICICI Bank: According to reports, Gross Non-Performing Assets of the private lender were down 25 basis points during the October-December quarter. The standalone net profit of ICICI Bank rose to Rs 6,193 crore, with a gain of 25.4 per cent, on-year basis
Vodafone Idea: The company’s net loss has widened in the October-December quarter to Rs 7,234 crore, due to higher operating expenses. The company’s Average Revenue Per User (APRU), however, has registered an increase from Rs 109 to Rs 115.
Tata Consultancy Services: The company is aiming for double-digit growth in the next few years from Canada as the country’s economy grows across sectors and digitisation is become more and more essential for businesses. According to TCS’ Country Head Soumen Roy, Canadian IT spends have registered a growth of 4-5 percent annually.
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