Stock Market HIGHLIGHTS: Sensex ends 237 pts lower, Nifty slips below 18,050 as market extends losses to second day
Stock Market HIGHLIGHTS: Indian equity benchmarks Sensex and Nifty50 finished lower for a second straight session on Friday, amid mixed moves across global markets as investors weighed optimism about corporate earnings against fears of a recession and more of aggressive hikes in headline interest rates.
Here are 10 key things to know about the January 20 session on Dalal Street:
1) Both headline indices closed 0.4 per cent lower. The Sensex lost 236.7 points to end at 60,621.8, taking its losses to 424 points in two straight sessions. The Nifty50 endmarket breadth favoured the bears, with an advance-decline ratio of 4:5 as 1,560 stocks rose and 1,912 fell at the close on BSE.
7) The rupee gained by 24 paise or 0.3 per cent to end at 81.12 against the US dollar.
8) Gold futures soared to a record high of Rs 56,850 per 10 grams.
9) European markets began the day in the green, as optimistic investors gauged the potential impact of a week-long Lunar New Year holiday after China lifted its COVID-19 curbs. The pan-European Stoxx 600 index was up 0.3 per cent at the last count.
10) S&P 500 futures were up 0.2 per cent, suggesting a positive start ahead on Wall Street.
Catch highlights of the stock market session, market commentary, live analysis, expert views, financial results, investment ideas and much more with Zeebiz.com's blog:
Stock Market HIGHLIGHTS: Indian equity benchmarks Sensex and Nifty50 finished lower for a second straight session on Friday, amid mixed moves across global markets as investors weighed optimism about corporate earnings against fears of a recession and more of aggressive hikes in headline interest rates.
Here are 10 key things to know about the January 20 session on Dalal Street:
1) Both headline indices closed 0.4 per cent lower. The Sensex lost 236.7 points to end at 60,621.8, taking its losses to 424 points in two straight sessions. The Nifty50 endmarket breadth favoured the bears, with an advance-decline ratio of 4:5 as 1,560 stocks rose and 1,912 fell at the close on BSE.
7) The rupee gained by 24 paise or 0.3 per cent to end at 81.12 against the US dollar.
8) Gold futures soared to a record high of Rs 56,850 per 10 grams.
9) European markets began the day in the green, as optimistic investors gauged the potential impact of a week-long Lunar New Year holiday after China lifted its COVID-19 curbs. The pan-European Stoxx 600 index was up 0.3 per cent at the last count.
10) S&P 500 futures were up 0.2 per cent, suggesting a positive start ahead on Wall Street.
Catch highlights of the stock market session, market commentary, live analysis, expert views, financial results, investment ideas and much more with Zeebiz.com's blog:
Latest Updates
Rupee ends higher at 81.12 against US dollar
The rupee appreciates by 24 paise or 0.3 per cent to end at 81.12 against the US dollar.
Hindustan Unilever, Asian Paints, Bajaj Finance, Nestle top Sensex laggards
Bajaj Finserv, Larsen & Toubro, Reliance, Infosys and Sun Pharma are also among the Sensex stocks that fell the most among the 20 losers.
On the flipside, PowerGrid, the HDFC twins, ITC and Tata Motors are among the top gainers.
Closing Bell | Sensex down 234 pts, Nifty50 at 18,028
Both headline indices finish the day 0.4 per cent lower. The Sensex sheds 236.7 points to end at 60,621.8, taking its losses to 424 points in two back-to-back sessions.
The Nifty50 settles at 18,027.7, down 80.2 points from its previous close. (Read more on the January 20 session)
Here's how both the gauges fared in intraday trade:
Sensex
Nifty
How MCX near-month gold futures have moved so far today
Gold futures surge to record high of Rs 56,850/10 grams
Gold futures (February 3) gain by as much as Rs 304 or 0.5 per cent to a record high of Rs 56,850 per 10 grams.
Coforge shares hold on to the green after Q3 results
Coforge shares are trading higher by Rs 140.3 or 3.5 per cent at Rs 4,106.7 apiece on BSE, having jumped by as much as Rs 283.6 or 7.2 per cent to Rs 4,250 earlier in the day.
The IT company reported financial results ahead of the opening bell on Friday.
Buy Nifty futures, target 18,250/18,300: Arpit Beriwal
Arpit Beriwal of Motilal Oswal Financial Services suggests going long on Nifty futures for targets of 18,250 and 18,300 with a stop loss at 18,000.
Union Bank of India Results | Net profit more than doubles to Rs 2,245 crore, NII up 20%
The state-run lender's net interest income — the difference between interest earned and interest paid — comes in at Rs 8,628 crore for the October-December period, from Rs 7,174 crore for the corresponding period a year ago, according to a press release.
Gross non-performing assets — or bad loans — as a percentage of total loans decreases by 52 bps to 7.93 per cent on a sequential basis. Net non-performing assets come down by 50 bps to 2.14 per cent. The bank reports provisions of Rs 3,036 crore, as against Rs 4,077 crore for the July-September period.
Buy Raomond, Gravita: Motilal Oswal's Arpit Beriwal
Arpit Beriwal of Motilal Oswal Financial Services shares two calls in the cash market:
- Buy Raymond for a target of Rs 1,600 with a stop loss at Rs 1,475
- Buy Gravita for a target of Rs 485 with a stop loss at Rs 450
What brokerages make of Asian Paints now
Asian Paints shares at day's low
Asian Paints decline by as much as Rs 66 or 2.3 per cent to Rs 2,802 apiece on BSE, extending losses to a second straight day after the paint maker reported a set of quarterly earnings that fell short of analysts' estimates.
Asian Paints shares at day's low
Asian Paints shares drop by as much as Rs 66 or 2.3 per cent to Rs 2802 apiece on BSE.
Hindustan Unilever shares face selling pressure after Q3 results
HUL shares continue to struggle below the flatline, having fallen by as much as Rs 110.2 or 4.2 per cent to Rs 2,540.1 apiece earlier in the day. After market hours on Thursday, the FMCG giant reported net profit to Rs 2,505 crore for the quarter ended December 2022 and revenue of Rs 15,228 crore. Growth in its sales volume came in at five per cent.
The earnings met analysts' expectations.
According to Zee Business research, HUL's quarterly net profit was estimated at Rs 2,495 crore and revenue at Rs 15,000 crore, with volume growth of four per cent. (Read more on HUL shares)
Jefferies' Christopher Wood tweaks India long-only equity portfolio
Here are some key changes:
- HDFC Life added to the portfolio with 6% weight
- ICICI Prudential removed (had a weight of 6%)
- Godrej Properties weight increased to 5% from 4%
- Macrotech weightage revised to 5% from 6%
- Jubilant FoodWorks removed from portfolio
Here's what the sectoral weightage in the India long-only portfolio of Jefferies looks like:
| Sector | Weightage (%) |
| Banks and NBFCs | 43 |
| Energy | 20 |
| Real estate | 19 |
| Auto | 5 |
| Infra | 5 |
| Transport | 4 |
| Logistics | 4 |
Read more on Chris Wood's model India portfolio
