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.
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.
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 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.
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
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.
What brokerages make of Asian Paints now
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.
What brokerages say on HUL shares
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
Trading Call | Buy Nifty Bank 42,600 call option, says Globe Capital Market's Himanshu Gupta
In an interaction with Zee Business Managing Editor Anil Singhvi, Himanshu Gupta of Globe Capital Market suggests buying the 42,600 strike call option for the Nifty Bank at Rs 325 and Rs 300 for targets Rs 400 and Rs 475 with a stop loss below Rs 250.
Q3 Results | Hindustan Zinc, Indiamart, AU Bank, Polycab, Havells, PVR announced Q3 results on Thursday. Here's a lowdown
A slew of corporates reported their quarterly numbers on Thursday, including Vedanta group firm Hindustan Zinc, Hindustan Unilever, Asian Paints, Indiamart, AU Small Finance Bank, Polycab, PVR and Havells.
Losses in oil & gas, FMCG shares offset gains in financial stocks
IndusInd, Tata Motors, PowerGrid, SBI top Sensex gainers
NTPC, ICICI Bank, Larsen & Toubro, UltraTech and HDFC Bank are also rising the most among the 20 gainers in the 30-scrip basket.
Sensex, Nifty50 flat in early deals
Here's what the 30-scrip index looks like five minutes into the opening bell:
Pre-Open Market | Sensex up 43 pts higher at 60,901, Nifty50 at 18,116
In the pre-opening session, the Sensex is up 42.7 points or 0.1 per cent at 60,901.2. The Nifty50 is barely in the green, up 7.8 points at18,115.6.
Anil Singhvi strategy for January 20: Key market triggers, important support levels for Nifty50, Nifty Bank today
Zee Business Managing Editor Anil Singhvi shares his strategy for the January 20 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.
Traders' Diary | Buy, sell or hold strategy on TCS, Asian Paints, PVR, Inox Leisure, Hindalco, 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.
Here's a list of stocks that are on analysts Varun Dubey and Kushal Gupta's radar today, and what they recommend in cash and derivative segments.
Brokerage calls: Hindustan Unilever, Asian Paints, PVR, Havells, Coforge in focus today
Asian Paints, Hindustan Unilever, PVR, Havells, Coforge, Mphasis and L&T Tech Services are some of the corporates that have reported their financial results for the October-December period.
CLSA has a 'reduce' call on Asian Paints and reduced its target price for the stock by more than five per cent.
Goldman Sachs has maintained 'neutral' on Hindustan Unilever and raised its target by Rs 50 to Rs 2,700.
Wall Street indices fall as jobs market data fuels concerns about sharp rate hikes
The three main US indices closed lower on Thursday after data pointing to a tight labour market renewed concerns the Fed will continue its aggressive path of hikes in benchmark interest rates that could lead the world's largest economy into a recession.
Weekly jobless claims came in lower than expected in a Labor Department report, indicating the jobs market remains solid despite the US central bank's efforts to stifle demand for workers.
Asian markets see mixed moves following weakness on Wall Street
Shares in major markets across Asia see cautious gains at this hour, following a weak handover from Wall Street overnight, with MSCI's broadest index of Asia Pacific shares outside Japan holding up 0.4 per cent at the last count.
Here's how some of the key indices in the region fare:
- Japan's Nikkei 225: up 0.2 per cent
- China's Shanghai Composite: up 0.6 per cent
- South Korea's KOSPI: down 0.2 per cent
- Singapore's Straits Times: down 0.1 per cent
SGX Nifty futures edge higher
Singapore Exchange (SGX) Nifty futures -- an early indicator of the Nifty50 index -- are quoting higher by 24.5 points or 0.1 per cent at 18,138, suggesting a mildly-positive-to-flat start ahead on Dalal Street.Earlier in the day, SGX Nifty futures moved within an 87-point range around the flatline, between 18,081.5 and 18,168.5.Sensex, Nifty50 halted a two-day winning run on Thursday
Indian equity benchmarks Sensex and Nifty50 fell on Thursday, mirroring weakness across global markets after weak economic data from the US fueled worries about a recession and hawkish comments from Fed officials dented investor sentiment. Both headline indices halted a two-day winning streak.
The Sensex ended at 60,858.4, down 187.3 points from its previous close, having dropped 329.2 points to 60,716.6 at its weakest level in intraday trade.
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