Sensex Trades on a Volatile Note; ITC and TCS Top Losers

Mon, 3 Feb 12:30 pm

   Previous Close   

   Pre-Open   

   09:30 am   

   Closing   

Editor's note: Dear reader, we are now on Telegram! Get our latest views on stock markets and more, instantly. Join our Telegram channel here!

---

Share markets in India are presently trading on a volatile note with benchmark indices fluctuating between gains and losses, a day after slumping to their lowest levels in three months following Budget 2020-21 announcements.

Barring IT stocks, all sectoral indices are trading on a positive note with stocks in the FMCG sector and power sector witnessing most of the buying interest.

The BSE Sensex is trading down by 15 points, while the NSE Nifty is trading up by 8 points. The BSE Mid Cap index is trading up by 1%, while the BSE Small Cap index is trading up by 0.1%.

The rupee is trading at Rs 71.59 against the US$.

Market participants are tracking SRF share price, Affle share price, and Tata Chemicals share price as these companies will announce their December quarter results later today.

In news from the realty sector, real estate firm Sobha has reported a 5% increase in its consolidated net profit at Rs 732 million for the quarter ended December 31, 2019, compared to Rs 698 million in the year-ago period.

Profit before tax (PBT) in the December quarter (Q3FY20) stood at Rs 1,164 million, up 6.2% from Rs 1,096 million in December 2018.

The company's total income rose to Rs 9,012 million in Q3FY20 from Rs 8,077 million in the corresponding quarter of the previous year.

Net sales witnessed 12.1% rise to Rs 8,832 million in Q3FY20 from Rs 7,879 million in December 2018 (Q3FY19).

On the operations front, the company achieved total sales volume of 1.07 million square feet valued at Rs 7,260 million during the quarter, up by 4% as compared to the same period last year.

Total average price realization showed upward trend as compared to September 2019, as the company saw good sales traction for its luxury and super luxury ongoing projects across cities.

Total cash inflow for the quarter stood at Rs 8 billion.

Sobha share price is presently trading up by 2.1%.

To know more about the company, you can read Sobha's Q3FY20 result analysis on our website.

In other news, Finance Minister Nirmala Sitharaman in her Union Budget speech proposed to extend a tax holiday offered to builders developing affordable housing projects.

"To boost the supply of affordable houses, the tax holiday is provided on profits earned by developers on affordable projects approved by 31 March 2020. I propose to extend the date of approvals on affordable projects for availing this benefit by one more year again," she said.

The government has also proposed to extend by one more year the additional deduction of Rs 1,50,000 for interest paid on home loans taken for buying affordable homes.

In her last budget, the minister had increased the interest deduction to Rs 3,50,000 for houses priced below Rs 45,00,000 as against Rs 2,00,000 earlier for loans until 31 March 2020.

However, reports state that these announcements are unlikely to be enough to revitalize the real estate market where several projects have been stalled for want of funding.

Unsold luxury housing stock (homes costing more than Rs 1.5 crore per unit) grew 10% in the top seven cities by 2019-end, according to data from real estate advisory firm Anarock Property Consultants.

These cities had a total of 89,200 unsold luxury homes at the end of 2019.

Speaking of the real estate sector, note that this is one sector that has tested investor patience over the years. While the sector has seen big moves in the last few years, the downward movement has been equally sharp.

The post demonetisation era has been tough on the sector. Excess inventory, i.e. housing projects stuck for years, has meant homeowners have largely stayed away from any fresh buying in the real estate space.

Also, post the IL&FS crisis, lending to real estate developers has largely dried up. The BSE Realty Index also reflects the same. It was down 31% in 2018.

But is the scenario about to change?

Real Estate - The Sector to Bet on After the Budget?

Here's what Tanushree Banerjee wrote about this in a recent edition of The 5 Minute WrapUp...

• Demonetisation, RERA, and the IL&FS crisis have hit the sector hard.
  
  The BSE Realty Index has had a tough time in the last few years.
  
  But there are signs of a turnaround. The government's Rs 250 billion package was a much need boost for the sector and homebuyers.
  
  A real estate revival is important for the steel, cement, and many other sectors. It is also an important job creator for India's young population.

What would be more interesting is the pickup in consumption once the real estate sector revives.

Once people get their homes, they are likely to spend on tiles, paints, furniture, electronics, pipes, cables, cement, and many other things.

Watch this space for more!

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

Read the latest Market Commentary

Top Gainers TodayTop Gainers over 1-WeekTop Gainers over 1-MonthTop Gainers over 1-YearTop Gainers over 3-YrsTop Gainers over 5-YrsTop Losers TodayTop Losers over 1-WeekTop Losers over 1-MonthTop Losers over 1-YearTop Losers over 3-YrsTop Losers over 5-YrsOnly BuyersOnly SellersMost Active StocksMost Popular Stocks52 Week High Stocks52 Week Low Stocks

INDICESBSE (Rs 0 to 1)BSE (Rs 1 to 2)BSE (Rs 2 to 4)BSE (Rs 4 to 10)BSE (Rs 10 to 20)BSE (Above Rs 20)BSE - AllBSE-30BSE-100BSE-200BSE-500BSE AutoBSE BankexBSE Capital GoodsBSE Consumer DurablesBSE FMCGBSE HealthcareBSE ITBSE MetalBSE Oil & GasBSE PSUBSE TeckBSE RealtyBSE PowerBSE A GroupBSE B GroupBSE Mid-CapBSE Small-CapBSE Basic MaterialsBSE Consumer DiscretionaryBSE IndustrialsBSE UtilitiesBSE Sensex 50BSE Sensex Next 50BSE Bharat 22BSE 150 MidCapBSE 250 SmallCapBSE 250 LargeMidCapBSE 400 MidSmallCapBSE AllCapBSE LargeCapBSE SmallCap SelectBSE 100 LargeCap TMCBSE InfraBSE ManufacturingBSE CPSEBSE Private BankBSE Diversified FinancialsBSE MomentumBSE Low VolatilityBSE QualityBSE Enhanced ValueBSE Divident StabilityS&P BSE IPOBSE SMEIPOBSE 100 ESGBSE CarbonexBSE GreenexNSE (Rs 0 to 10)NSE (Rs 10 to 20)NSE (Above Rs 20)NSE - AllNSE-50NSE ITNSE Nifty Midcap 50NSE JR. NiftyNSE Bank NiftyNIFTY Next 50NIFTY 100NIFTY 200NIFTY 500NIFTY MidCap 100NIFTY SmallCap 250NIFTY SmallCap 50NIFTY SmallCap 100NIFTY LargeMidCap 250NIFTY MidSmallCap 400NIFTY AutoNIFTY Consumer DurablesNIFTY FinanceNIFTY FMCGNIFTY MediaNIFTY MetalNIFTY PharmaNIFTY Private BankNIFTY PSU BankNIFTY RealtyNIFTY Oil & GasNIFTY SME EmergeNIFTY CommoditiesNIFTY CPSENIFTY EnergyNIFTY India ConsumptionNIFTY InfraNIFTY MNCNIFTY PSENIFTY Serv SectorNIFTY100 Liquid 15NIFTY Midcap Liquid 15NIFTY Midcap 150 Quality 50NIFTY50 Equal WeightNIFTY100 Equal WeightNIFTY100 Low Volatility 30NIFTY100 Alpha 30NIFTY Alpha 50NIFTY Dividend Opportunities 50NIFTY High Beta 50NIFTY Low Volatility 50NIFTY200 Quality 30NIFTY 500 Value 50NIFTY 100 Quality 30SECTORSAgricultureAirlinesAluminiumAsset Management CompaniesAutomobilesAuto AncillariesBanks (Private)Banks (PSU)BankingCementChemicalsDefenceDiagnosticsDronesEngineeringElectric VehicleElectric Vehicle BatteryEnergy SourcesESGEthanolFertilizersFintechFMCGFoodGreen HydrogenHotelsInfrastructureInsuranceInvestment and FinanceInvITIT (Large)IT (Others)LogisticsMediaMetalMiningIndia's Big Tech StocksIndian PharmaMNC PharmaPSUPaintPaperPlasticPowerRating AgenciesReal EstateREITsRenewable EnergyRetailingSemiconductorShippingSteelSugarSupply ChainTelecomTextilesTravel Support Services

10 results 25 results 50 results 100 results All results

Indian Share Market Update: Top Gainers and Losers