Market LIVE Updates: Nifty around 17,300, Sens tumbles 900 pts; IT, realty worst hit

Stock Market LIVE Updates: All the sectoral indices are trading in the red with IT and realty indices down 2 percent each, while auto, capital goods, bank, FMCG indices down 1 percent each. BSE Midcap and Smallcap indices are also down 1 percent each.

Stock Market Today:(11.02.2022)

FEBRUARY 11, 2022 / 11:40 AM IST

India Cements Q3: Net profit went down 94.5% at Rs 3.3 crore against Rs 62 crore (YoY). Revenue fell 4.5% at Rs 1,108 crore against Rs 1,160 crore (YoY). EBITDA slipped 51.6% at Rs 105 crore against Rs 215.2 crore (YoY). EBITDA margin at 9.4% against 18.5% (YoY). The stock was trading at Rs 217.05, down Rs 5.75, or 2.58 percent. It has touched an intraday high of Rs 222.85 and an intraday low of Rs 214.70.

FEBRUARY 11, 2022 / 11:35 AM IST

We are seeing a sharp cut in the market on the back of a sharp jump in US bond yields due to 4 decade-high inflation however most of this fear is already factored in therefore we have to check how the market will negotiate a high-interest environment because we have seen the scenario of rising interest rates and rising equity markets.

Technically, Nifty is facing resistance in a cluster of 20-DMA and 100-DMA at 17600-17650 while 17300 is an immediate and important support level while 1700-16800 is a critical demand zone. The overall view will remain bullish till Nifty trades above the 16800 level while there are multiple resistances till 17800. A breakout of the 17800 level may lead to a move towards a fresh all-time high

FEBRUARY 11, 2022 / 11:13 AM IST

Zomato shares slip 9% despite narrowing Q3 losses. Zomato shares shed 9 percent on February 11 even after the company minimized its losses for the quarter ended December 2021. Zomato on February 10 posted a consolidated loss of Rs 63.2 crore for the quarter ended December (Q3FY22). It had reported a loss of Rs 352.6 crore in the year-ago period.

Revenue from the operations came in at Rs 1,112 crore, up 82.7 percent against Rs 609.4 crore logged in a year back. The restaurant aggregator and food delivery company said that it's Gross Order Value (GOV) grew by 84.5 percent on-year and 1.7 percent on-quarter to Rs 55 billion or 5,500 crores ($733 million) in the third quarter of fiscal 2021-22.

Benchmark indices were trading near the day's low point amid selling was seen in across the sectors.

The Sens was down 950.25 points or 1.61% at 57975.78, and the Nifty was down 281.90 points or 1.60% at 17323.90. About 784 shares have advanced, 2195 shares declined, and 74 shares are unchanged.

Buzzing Stocks:

Mahindra and Mahindra (M&M) shares traded in the green in the morning session on February 11 in a market going deep into the red over global macro concerns.

Mahindra & Mahindra Ltd, including its manufacturing arm Mahindra Vehicle Manufacturing, posted a net profit of Rs 2,484.24 crore after exceptional items. This was a sharp 57 percent surge from Rs 1,268 crore reported a year ago, the company said on February 10.

Revenue for the quarter rose 9 percent from a year ago to Rs 2,3594 crore. Tractor sales in the domestic market fell 9 percent on year to 91,769 units. Sales in the auto segment, including commercial and passenger vehicles, dropped 2 percent to 11,8174 units during the period.