Sensex, Nifty bounce back; NSE VIX jumps 5%

The domestic equity barometers reversed early losses and entered the positive terrain in early afternoon trade. The Nifty reclaimed the 14,300 mark. Surging Covid-19 cases in the country continue to weigh on the investors’ sentiment.

At 12:21 IST, the barometer index, the S&P BSE Sensex, was up 21.75 points or 0.05% to 47,727.55. The Nifty 50 index added 25 points or 0.17% to 14,321.40.

In the broader market, the S&P BSE Mid-Cap index gained 0.30% while the S&P BSE Small-Cap index rose 0.10%.

The market breadth was positive. On the BSE, 1598 shares rose and 1102 shares fell. A total of 163 shares were unchanged.

Derivatives:

The NSE’s India VIX, a gauge of market’s expectation of volatility over the near term, jumped 4.60% to 23.46. The Nifty 29 April 2021 futures were trading at 14,325.75, at a premium of 4.35 points as compared with the spot at 14,321.40.

The Nifty option chain for 29 April 2021 expiry showed maximum Call OI of 32 lakh contracts at the 15,000 strike price. Maximum Put OI of 42.3 lakh contracts was seen at 14,000 strike price.

Buzzing Index:

The Nifty Realty index slipped 0.37% to 300.15. The index rose 0.32% in the previous session.

Godrej Properties (down 2.84%), Brigade Enterprises (down 2.15%), Oberoi Realty (down 0.66%) and The Phoenix Mills (down 0.60%) declined.

Indiabulls Real Estate (up 5.13%) and DLF (up 1.58%) advanced.

Sunteck Realty rose 2.92% to Rs 283.50. The real estate company’s total collections jumped 27.38% to Rs 321 crore in Q4 FY21 as against Rs 252 crore in Q3 FY21. Pre-sales rose 6.30% to Rs 371 crore in Q4 FY21 as compared to Rs 349 crore in Q3 FY21.

Earning Impact:

Nestle India rose 1.44% to Rs 16840. On a standalone basis, the company’s net profit jumped 14.6% to Rs 602.25 crore on 8.9% increase in net sales to Rs 3,600.20 crore in Q1 FY21 over Q1 FY20. During the quarter ended, domestic sales soared 10.2% year-on-year (Y-o-Y) driven by volume & mix and was broad based. Export sales tumbled 12.9% Y-o-Y due to lower exports to affiliates. Demand in out of home channel further improved in the quarter but continued to be impacted by COVID-19, the company said.

E‐Commerce channel grew 66% Y-o-Y and contributed 3.8% of domestic sales. However, the company witnessed headwinds in commodity and packaging materials. The FMCG major said it achieved plastic neutrality across all brands in 2020.

While the Nestlé India family has learnt to cope with the operating volatility in the pandemic, recent sharp escalations in key raw material prices poses challenges that we will resolutely respond to, while maintaining the integrity of our business model, Suresh Narayanan, the chairman and managing director (MD) of Nestle India said.

ICICI Securities jumped 4.57% to Rs 443.55. The company’s consolidated profit after tax (PAT) for Q4FY21 stood at Rs 329 crore as against Rs 156 crore in Q4FY20, up 111%, on account of growth in revenue and improvement in margins. Consolidated revenue of Rs 739 crore in Q4FY21 as compared to Rs 482 crore in Q4FY20, up 53%, aided by strong all-round performance in equities & allied business, distribution business, distribution business, private wealth management business, as well as investment banking business.

ICICI Securities has a client base of approximately 5.4 million, of which approximately 3.5 lakh were added during the quarter, which is highest ever addition in a quarter. Digital sourcing continues to demonstrate strength with approximately 2.2 lakh customers added through this channel during the quarter, vs approximately 38,000 in Q3, 28,000 in Q2 and approximately 20,000 in Q1.

In Q4FY21, equities and allied business revenue rose 46% year-on-year to Rs 482 crore. Distribution revenue stood at Rs 141 crore in Q4FY21 up 22% against Q4FY20. I-Sec’s Private Wealth Management (PWM) business reported Rs 158 crore of revenue in Q4FY21 up 82% on-year. The company’s Issuer Services and Advisory business revenue stood at Rs 53 crore in Q4FY21, up 441% on-year.

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