Stock Market HIGHLIGHTS: Sensex ends 910 pts higher, Nifty50 surpasses 17,850 led by financial, IT shares; Titan shares jump 7% on earnings boost
Stock Market HIGHLIGHTS: Indian equity benchmarks Sensex and Nifty50 overcame initial choppiness to clock strong gains in the second half of a volatile day on Friday, the last session of a week that saw the the unveiling of a pragmatic Union Budget 2023 by Finance Minister Nirmala Sitharaman. Gains across most sectors pushed the headline indices higher, with financial, IT, consumer and auto stocks being the top boosts.
Stock Market HIGHLIGHTS: Indian equity benchmarks Sensex and Nifty50 overcame initial choppiness to clock strong gains in the second half of a volatile day on Friday, the last session of a week that saw the the unveiling of a pragmatic Union Budget 2023 by Finance Minister Nirmala Sitharaman. Gains across most sectors pushed the headline indices higher, with financial, IT, consumer and auto stocks being the top boosts.
Globally, equity markets were a mixed bag as investors weighed a 50-basis-point hike from the ECB against a smaller hike in the US along with a rather dovish tone of the Fed.
Here are five things to know about the February 3 session on Dalal Street:
1) The Sensex finished 909.6 points or 1.5 per cent higher for the day at 60,841.9, and the Nifty50 settled at 17,854.1, up 243.7 points or 1.4 per cent from its previous close.
Catch highlights of market action, commentary and analysis, the views of Zee Business Managing Editor Anil Singhvi and other Dalal Street experts, financial results and what to make of them, and stock investing and trading ideas — and much more — here on Zeebiz.com's blog:
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SBI Q3 Results: Net profit jumps 68.5% to record Rs 14,205 crore, beats analysts' estimates
State Bank of India (SBI) — the country's largest lender by assets — reports a year-on-year 68.5 per cent jump in net profit to a record Rs 14,205.3 crore for the quarter ended December 2022.
The PSU banking major's net interest income (NII) — or the difference between interest earned and interest paid — increases 24.1 per cent to Rs 38,068.6 crore compared with the year-ago period, according to a regulatory filing.
Both topline and bottomline far exceeded analysts' expectations.
According to Zee Business research, SBI's quarterly net profit was estimated at Rs 13,400 crore and NII at Rs 37,300 crore.
SBI shares ended 3.1 per cent higher ahead of the earnings announcement.
Closing Bell | Sensex ends 910 pts higher, Nifty50 reclaims 17,850
The 30-scrip index finishes the day 909.6 points or 1.5 per cent higher at 60,841.9 and the Nifty50 settles at 17,854.1, up 243.7 points or 1.4 per cent from its previous close.
Here's how Sensex moved through the day:
Nifty50
At day's low, Adani Enterprises shares have lost 43% of value in three days
Adani group stocks a mixed bag; Adani Ports jumps 8%, ACC 4%; Adani Transmission slumps 10%
Stock Change (%) CMP Adani Trans -10 1,401.6 Adani Green -10 934.3 Adani Power -5 192.1 Adani Total -5 1,626 Adani Wilmar -5 400.4 Adani Enterprises 0.5 1,572.8 Ambuja 3.2 363.9 ACC 4.4 1,926.5 Adani Ports 7.6 497.2 Buy Cyient, target Rs 945: Ruchit Jain
Ruchit Jain of 5Paisa shares a buy call on Zee Business:
Buy Cyient for targets of Rs 945 and Rs 958 with a stop loss at Rs 885.
The IT stock has grown almost 10 per cent in value in the past one month, sharply outperforming a 2.2 per cent decline the Nifty50 headline index.
Bank of Baroda zooms as investors cheer PSU lender's Q3 results
Sensex soars over 850 pts, Nifty50 within six pts of 17,850 boosted by financial, IT shares
The Sensex surges as much as 879.3 points or 1.5 per cent to touch 60,811.5 on the upside.
Financial, IT stocks lead rally on Dalal Street; Sensex surges over 800 pts
The HDFC twins, ajaj Finance, Infosys and Titan are the biggest contributors to the gain in Nifty50. Here's what the heatmap looks like about 45 minutes from the closing bell:
This is how much ITC makes from its cigarettes and hotels businesses
Buy Reliance, Titan: Sanjiv Bhasin
Sanjiv Bhasin of IIFL Securities shares two blue-chip stock picks: Titan and Reliance .
He has a target of Rs 2,500 for his 'buy' call on Titan with a stop loss at Rs 2,360.
For Reliance Industries, Bhasin suggests a target of Rs 2,400-2,420 and a stop loss at Rs 2,275.
Read more on what brings these stocks to Sanjiv Bhasin's radar
F&O Trade Idea | Chandan Taparia recommends buying Nifty50 17,700 call option near Rs 110
Chandan Taparia of Motilal Oswal Financial Services has a target price of Rs 185 for the option and suggests a stop loss at Rs 70.
Among stock derivatives, Taparia suggests buying the Rs 3,000 call of Siemens at Rs 90 for a target of Rs 140 with a stop loss at Rs 65.
Stock Market Update | Paytm shares fall almost 3% ahead of Q3 results
Q3 Results Today | ITC, SBI, IndiGo, Divi's, Paytm to report numbers today
Here's how some of these stocks are performing at this hour:
ITC
The stock of the cigarettes-to-hotels conglomerate retreats by as much as Rs 10.2 from its strongest level of the day to Rs 372 apiece on BSE, taking its loss to 3.3 per cent from a record high touched the previous day.
SBI
SBI struggles just above the flatline amid choppy trade. Earlier in the day, the stock of the country's largest lender by assets rose by as much as Rs 13.1 or 2.5 per cent to Rs 541.1 apiece on BSE.
Paytm
Stock Market Update | HDFC shares firm in the green; HSBC maintains 'buy' after Q3 results
HDFC shares are trading stronger by Rs 44.7 or 1.7 per cent on the day at Rs 2,657.5 apiece on BSE, having risen to as high as Rs 2,664.8 apiece earlier in the day to come within Rs 200 points of a 52-week high hit in April 2022.
HSBC maintained a 'buy' call on HDFC but reduced its target by Rs 140 to Rs 2,850.
Stock Market Update | Titan, Bajaj twins, HDFC twins, IndusInd top Nifty50 gainers; Adani Enterprises top loser, nosedives 24%
As many as 28 stocks in the 50-scrip basket are in the negative zone in late morning deals.
SYMBOL %CHNG LTP TITAN 4.5 2,411.9 BAJAJFINSV 2 1,297.1 BAJFINANCE 1.8 5,819.4 HDFCBANK 1.7 1,630.5 HDFC 1.4 2,650.9 INDUSINDBK 1.4 1,090.8 UPL 1.4 706 BRITANNIA 1.1 4,623 SBILIFE 0.8 1,116.3 NTPC 0.8 163.9 ITC -1.4 373.2 HDFCLIFE -1.5 485.5 TATACONSUM -1.5 725.9 ONGC -1.6 141.2 TATASTEEL -1.6 118.1 HINDALCO -2.7 452.9 BPCL -2.83 322.8 DIVISLAB -3 3,170.2 ADANIPORTS -7.6 427.2 ADANIENT -23.8 1,192.8 Stock Market Tips | Should you buy, hold or sell Titan, Tata Consumer, HDFC, Berger Paints, Birlasoft, Godrej Properties, other shares now?
Here's how brokerages rate Titan:
Brokerage Rating Target price CLSA Buy Rs 3,000 JPMorgan Overweight Rs 3,000 Morgan Stanley Overweight Raised to Rs 3,003 from Rs 3,000 Citi Buy Reduced to Rs 3,091 from Rs 3,440 Jefferies Hold Rs 2,550 Credit Suisse Neutral Reduced to Rs 2,500 from Rs 2,700 HSBC Buy Rs 3,350 Buy JK Tyres, auto space gaining momentum: Motilal Oswal's Shivangi Sarda
In an interaction with Zee Business Managing Editor Anil Singhvi, Shivangi Sarda of Motilal Oswal Financial Services suggests says JK Tyres shares are looking good at the current juncture, with a pickup of momentum in the auto space.
She has a target of Rs 175 for JK Tyres shares with a stop loss at Rs 165.
Long-Term Midcap Stock Ideas | Buy Mahindra CIE, JK Tyres, say Motilal Oswal Financial Services analysts
In an interaction with Zee Business Managing Editor Anil Singhvi, Hemang Jani of Motilal Oswal Financial Services suggests going long on Mahindra CIE, a stock he believes is benefitting from lower commodity and energy costs, and momentum in the overall auto space, both in India as well as Europe.
Jani highlights that Mahindra CIE charts are also looking strong. He has a target of Rs 460 for Mahindra CIE with a perspective of 9-12 months.
ITC shares hold on to the green ahead of results today
The ITC stock rises by as much as Rs 3.6 or one per cent to Rs 382.2 apiece on BSE, as investors await the cigarettes-to-hotels conglomerate's earnings report for the October-December period due later in the day.
Stock Investment Idea | Buy ICICI Bank shares, says Siddharth Sedani
Siddharth Sedani of Anand Rathi Securities suggests buying ICICI Bank shares for a short-term target of Rs 900 and a positional or six-month target of Rs 1,094.
The stock has risen more than seven per cent in the past one year while the Nifty50 benchmark index has gained 0.3 per cent.
Dalal Street Market Update | Titan, IndusInd, Bajaj twins, HDFC Bank top Sensex gainers
Tech Mahindra, PowerGrid, HCL Tech and Reliance are the top laggards less than 20 minutes into the opening bell.
Headline indices off day's highs after Sensex gains nearly 500 points, Nifty50 tests 17,700
The Sensex is up 255.2 points or 0.4 per cent at 60,187.5, having gained as much as 481.9 points to 60,414.2 at the strongest level of the day so far.
Here's how the intraday chart of the 30-scrip index is building up so today:
The Nifty50 is left with a gain of 54.4 points or 0.3 per cent at 17,664.8, having touched 17,728.5 at its highest level in intraday trade.Pre-Open Market | Sensex up over 400 pts, Nifty50 above 17,700
US Market Update | Nasdaq, S&P 500 surged on Thursday, healthcare shares pulled Dow Jones lower; Meta shares skyrocket
The Nasdaq and the S&P 500 ended higher on Thursday and touched roughly five-month highs as a more dovish-than-expected message from Fed Chair Jerome Powell boosted equities and Meta Platforms shares soared on rigorous cost controls. Healthcare stocks pulled the Dow Jones Industrial Average to the red.
Meta shares spiked on cost controls and a $40-billion share buyback.
- Dow Jones: down 0.1 per cent
- S&P 500: up 1.5 per cent
- Nasdaq: up 3.3 per cent
Asian shares a mixed bag this morning mirroring Wall Street
Barring India, other major markets across Asia see mixed moves this morning amid fading optimism about less aggressive hikes in benchmark interest rates, as the ECB announced a 50-basis-point increase following a 25-basis-point raise and rather dovish remarks by the Fed.
MSCI's broadest index of Asia pacific shares outside Japan is down 0.7 per cent at this hour.
Here's how some of the main barometers in the region are faring at this point:
- Japan's Nikkei 225: up 0.4 per cent
- China's Shanghai Composite: down 1.4 per cent
- South Korea's KOSPI: up 0.4 per cent
- Hong Kong's Hang Seng: down 2.1 per cent
- Singapore's Straits Times: flat
Sensex ended Thusday's volatile session within 70 pts of 60,000 mark, Nifty50 flat
The 30-scrip benchmark index finished the day 224.2 points or 0.4 per cent higher at 59,932.2, having gyrated in a range of almost 800 pts around the flatline during the session.
The Nifty50 settled at 17,610.4, down 5.9 points from its previous close.
Here's how the headline indices moved through the session:
Sensex
Nifty
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