Read more about Market Wrap, Feb 10: Here s all that happened in the markets today on Business Standard. Recovering from the day s low, the Sensex index settled at 51,309 levels on the BSE, down 20 points or 0.04 per cent
US stocks fall after hitting record highs
Wall Street s main indexes turned negative in volatile trading on Wednesday after the S&P 500 and the Dow hit record highs at the open on hopes of faster economic growth. The Dow Jones Industrial Average fell 73.22 points, or 0.23%, to 31,302.73, the S&P 500 lost 9.58 points, or 0.24%, to 3,901.72 and the Nasdaq Composite lost 73.65 points, or 0.53%, to 13,934.05.
European shares gain on stimulus hopes
European shares rose on Wednesday as upbeat earnings reports from firms including SocGen helped boost optimism around a broader economic rebound, while shipping company Maersk slumped after its quarterly profit missed estimates. The pan-European STOXX 600 index rose 0.26%, with commodity-linked shares and utility stocks leading the gains.
Page Industries surged 5.47% to Rs 31,995.85 after the apparel maker s net profit jumped 76.65% to Rs 153.7 crore on a 16.78% rise in net sales to Rs 927.06 crore in Q3 FY21 over Q3 FY20.Page Industries said it saw resilient performance as the economy started to show signs of recovery. As of now, more than 94% of multi brand outlets, 100% of EBOs and 93% of the company s large format stores are fully functional.
Profit before tax grew by 77.3% to Rs 207.26 crore in Q3 FY21 from Rs 116.9 crore in Q3 FY20. Total tax expense spiked 79% year on year to Rs 53.56 crore in Q3 FY21 over Q3 FY20.
We had mentioned in Tuesday’s closing report that Nifty, Sensex were losing momentum. On Wednesday, the major indices rallied a bit but lost all gains and ended flat