Stock Market HIGHLIGHTS: Sensex surges 953 pts in two days, Nifty50 reclaims 18,150; IndusInd shares decline ahead of results
Stock Market HIGHLIGHTS: Indian equity benchmarks Sensex and Nifty50 extended gains to a second straight session on Wednesday, shrugging off mixed moves across global markets. Gains in the HDFC twins, Infosys and Tata Steel helped the market recover initial weakness in intraday trade.
Stock Market HIGHLIGHTS: Indian equity benchmarks Sensex and Nifty50 extended gains to a second straight session on Wednesday, shrugging off mixed moves across global markets. Among heavyweights, HDFC Bank, HDFC, Larsen & Toubro and ICICI Bank were the biggest boosts for both headline indices, whereas Reliance, Tata Motors, UltraTech and SBI were among the major drags.
Here are 10 things to know about the January 18 session on Dalal Street:
1) Both headline indices held on to a majority of intraday gains at the close, finishing 0.6 per cent higher. The Sensex ended 390 points higher for the day at 61,045.7 and the Nifty50 settled at 18,165.4, up 112.1 points from its previous close. The market stayed positive for much of the session following subdued trade in the first 30 minutes of trade. The 30-scrip index gyrated in a range of more than 500 points during the session, touching 60,569.2 and 61,110.3 at the weakest and strongest levels in intraday trade respectively.
2) Thirty five stocks in the Nifty50 basket rose for the day. Hindalco, Tata Steel, Larsen & Toubro, UPL, Wipro, Coal India, HDFC Bank, HDFC, Bharti Airtel and JSW Steel were the top gainers, rising between 1.3 per cent and 2.9 per cent at the close.
3) On the other hand, Tata Motors, Adani Enterprises, HDFC Life, UltraTech Cement, BPCL, IndusInd Bank, Nestle, Bajaj Finserv, Eicher and Cipla -- closing between 0.4 per cent and 1.6 per cent lower -- were the top laggards.
4) Broader markets also strenthened, with the Nifty Midcap 100 and Nifty Smallcap 100 indices rising 0.5 per cent and 0.1 per cent respectively. Polyplex, Just Dial, Allcargo, TTML and RVNL -- rising between five per cent and 11.7 per cent -- rose the most among the 270 gainers in the BSE 500 universe. On the flipside, Minda Corp, Star Health, Bank of India, ICICI Lombard and Delta Corp -- declining between 3.8 per cent and 5.4 per cent -- were the top gainers in the broadest index on the bourse.
5) Overall market breadth was in favour of the bulls at the close, with an advance-decline ratio of 6:5 as 1,942 stocks rose and 1,573 fell on BSE.
6) Analysts awaited more of financial results from India Inc for cues. IndusInd Bank shares faced selling pressure ahead of the release of the lender's earnings due later in the day.
7) ITC shares rose after the cigarette-to-hotels conglomerate announced the acquisition of Sproutlife Foods, which owns direct-to-consumer (D2C) brand Yoga Bar. (Check out brokerage views on ICICI Prudential, Paytm, Tata Steel, other stocks)
8) The rupee strengthened by 52 paise or 0.6 per cent to end at 81.24 against the dollar.
9) European shares edged higher amid upbeat earnings and outlook. The pan-European Stoxx 600 was up 0.1 per cent at the last count, on track to finish higher for the sixth day in a row -- , its longest winning streak since November 2021. Earlier in the day, MSCI's broadest index of Asia Pacific shares outside Japan rose 0.3 per cent.
10) S&P 500 futures were barely in the green, suggesting a muted start ahead on Wall Street.
Catch HIGHLIGHTS of the January 18 session on Dalal Street, market analysis, Q3 results, expert views, investment ideas and much more on Zeebiz.com's market blog:
Latest Updates
Here's how Sensex moved in intraday trade today
Closing Bell | Sensex up 390 pts at 61,046, Nifty50 at 18,164 as market extends gains to second day
The 30-scrip index finishes the session with a gain of 390 points or 0.6 per cent at 61,045.7 and the Nifty50 settles at 18,163.8, up 110.5 points or 0.6 per cent from its previous close.
Buy Redington for targets of Rs 202, Rs 210: Ruchit Jain
Ruchit Jain of 5paisa is positive on Redington shares. He suggests investors to go long on the stock for targets of Rs 202 and Rs 210 with a stop loss at Rs 179.
Sumeet Bagadia suggests buying India Cements shares
Sumeet Bagadia of Choice Broking recommends going long on Indian Cements shares for targets of Rs 221 and Rs 225 with a stop loss at Rs 211.
Here's how the cement stock looks like less than 30 minutes from the closing bell:
Buy Atul Auto, strong breakout on the cards: Simi Bhaumik
Technical Analyst Simi Bhaumik believes a strong breakout is in the making in Atul Auto shares.
She suggests buying the stock at the current market price (Rs 329) for targets of Rs 355 and Rs 375 with a stop loss at Rs 310.
Here's how Atul Auto has performed in the past six months:
Sanjiv Bhasin's stock picks: Bank of Baroda, Coal India, IndiGo
Sanjiv Bhasin of IIFL Securities suggests going long on three stocks:
- Buy Bank of Baroda for a target of Rs 185 with a stop loss at Rs 173.5; the PSU bank is likely to post its best ever quarterly results
- Buy Coal India for a target of Rs 225 with a stop loss at Rs 209
- Buy IndiGo near Rs 2,095 for a target of Rs 2,150 with a stop loss at Rs 2,040
Central Bank of India shares make their way into the green after Q3 results
Central Bank of India reports net profit of Rs 458 crore for the quarter ended December 2022, up 63.6 per cent compared with the corresponding period a year ago. The Mumbai-based PSU lender's net interest income (NII) -- or the difference between interest earned and interest paid -- increases 19.9 per cent on year to Rs 3,284 crore, according to a regulatory filing.
The bank reported improvement in its asset quality as its gross non-performing assets as a percentage of total loans came down by 82 basis points sequentially to 8.85 per cent.
Net bad loans came down to 2.09 per cent sequentially from 2.95 per cent.
LKP Securities identifies six stocks to buy before Budget; ITC, NTPC on the list
LKP Securities suggests going long on six stocks ahead of the presentation of Budget in Parliament with a view of the next 3-4 months. The brokerage expects an upside of 20-23 per cent in these stock picks:
- Buy PFC in the Rs 130-125 zone for a target of Rs 156-167 with a stop loss at Rs 118
- Buy ITC in the Rs 315-305 area for a target of Rs 370-385 with a stop loss at Rs 285
- Buy Tata Power above Rs 225 for a target of Rs 260-270 with a stop loss at Rs 180
- Buy NTPC in the Rs 160-166 range for a target of Rs 180-200 with a stop loss at Rs 148
- Buy Siemens at Rs 2,800-2,835 for a target of Rs 3,200-3,400 with a stop loss at Rs 2,600
- Buy Chambal Fertilisers at Rs 280-289 for a target 325-360 stop loss 260
PVR net profit likely at Rs 10 crore in October-December vs Rs 71 crore net loss in previous quarter
According to Zee Business research, PVR is estimated to report a net profit of Rs 10 crore for the quarter ended December 2022, as against a net loss of Rs 71 crore for the previous three months.
Its revenue is estimated at Rs 930 crore for the October-December period, up 35.4 per cent compared with the previous quarter.
The multiplex operator's margin is likely to improve by 640 basis points sequentially to 29 per cent.
The company is likely to see growth of around 35-40 per cent in box office revenues on a quarter-on-quarter basis, according to Zee Business research.
Rail Vikas Nigam shares in high demand after company wins order from Gujarat Metro Rail Corporation
RVNL shares gain by as much as Rs 3.7 or 4.9 per cent to Rs 78.1 apiece on BSE. In a consortium with Siemens, RVNL emerged the lowest bidder for two Gujarat Metro Rail Corp projects worth a total Rs 1,058 crore. The projects are to be completed in 19 months.
Siemens is the lead partner with a 65 per cent share and the remaining 35 per cent share is with RVNL.
HDFC twins, Kotak Mahindra Bank, Tata Steel, ITC top boosts for Nifty50
Infosys, TCS, Hindalco, Hindustan Unilever and HCL Tech are also among the top contributors to the rise in the benchmark index.
On the flipside, Adani Enterprises, Reliance, Tata Motors, SBI and Larsen & Toubro are the biggest drags almost two hours into the closing bell.
Buy GMR Airports, HPCL, Ashok Leyland: Sanjiv Bhasin
In an interaction with Zee Business Managing Editor Anil Singhvi, Sanjiv Bhasin of IIFL Securities shares three investment ideas:
- Buy HPCL for a target of Rs 255 with a stop loss at Rs 238.5
- Buy Ashok Leyland for a target of Rs 155 with a stop loss at Rs 143.5
- Buy GMR Airports for a target of Rs 44/44.5 with a stop loss at Rs 39
Tata Steel, Wipro, HCL Tech, HDFC Bank top Sensex gainer
Sun Pharma, Bharti Airtel, Kotak Mahindra Bank, Titan and Bajaj Finance are also among the stocks that are rising the most in the 30-scrip basket.
On the other hand, UltraTech, Reliance, Mahindra & Mahindra and SBI are the worst hit among the seven laggards in the pack.
Sensex, Nifty50 edge higher amid choppy trade
Both headline indices rise as much as 0.2 per cent in early deals after opening barely in the green. The Sensex gains as much as 107.3 points to 60,763 and the Nifty50 climbs to as high as 18,090.6, up 37.3 points from its previous close.
The 30-scrip index begins the day with a gain of 60.3 points at 60,716 and the Nifty50 at 18,074.3, up 21 points from its previous close.
Anil Singhvi's strategy for January 18: Nifty50 to find support at 17,950-18,000, strong buy zone at 17,850-17,900
Zee Business Managing Editor Anil Singhvi shares his strategy for the January 18 session on Dalal Street. Check out his take on key support and resistance levels for the Nifty and the Nifty Bank, and how he views the market.
Read more on how Anil Singhvi views the market today
Traders' Diary | Buy, sell or hold strategy on ITC, Infosys, ICICI Prudential, Dreamfolks, Bharat Forge, 15 other stocks today
In today's edition of Traders' Diary, the Zee Business research team shares exclusive research on 20 stocks that investors and traders can track. Check out which stocks are on analysts Varun Dubey and Kushal Gupta's radar today, where they recommend buy, sell or hold strategies in cash and futures segments.
Dow Jones dropped over 1%, tech stocks-heavy Nasdaq Composite eked out a gain on Tuesday
Wall Street had a mixed session on Tuesday, amid deep falls in banking stocks. The Dow Jones Industrial Average finished the day 1.1 per cent lower. The S&P 500 declined 0.2 per cent.
The Nasdaq Composite edged 0.1 per cent higher.
Asian shares a mixed bag today
Equities in other Asian markets are a mixed bag this morning, mirroring the trend on Wall Street overnight. MSCI's broadest index of Asia Pacific shares outside Japan is flat.
- Japan's Nikkei 225: up 0.2 per cent
- China's Shanghai Composite: up 0.3 per cent
- Hong Kong's Hang Seng: up 0.3 per cent
- South Korea's KOSPI: down 0.7 per cent
Investors await a key Bank of Japan (BoJ) meeting this week where the central bank might defend its mega stimulus.
Sensex rose 563 pts to end at 60,656 on Tuesday, Nifty50 reclaimed 18,050
Both headline indices finished Tuesday's session 0.9 per cent higher amid buying interest in IT, FMCG, oil & gas and pivate sector financial shares. Heavyweights Reliance, the HDFC twins, Larsen & Toubro and Hindustan Unilever were at the forefront of the upmove in the market.
The 30-scrip index gyrated in a range of more than 600 points around the flatline and the Nifty50 largely moved within the 17,850-18,100 band during the session. (Catch highlights of the January 17 session on Dalal Street)
SGX Nifty futures indicate positive start ahead on Dalal Street
Singapore Exchange (SGX) Nifty futures -- an early indicator of the Nifty50 index -- are up 30.5 points or 0.2 per cent at 18,106.5 at this hour, having risen as much as 85 points earlier in the day.
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