Nifty IT and Nifty FMCG indices were the top sectoral losers on the NSE, down 1.36 per cent and 1.13 per cent, respectivelyShare Market News Today | Sensex, Nifty, Share Prices HIGHLIGHTS: Domestic equity market benchmarks BSE Sensex and NIfty 50 ended over half a per cent lower on Wednesday dragged by sell-off in index heavyweights such as Reliance Industries Ltd (RIL), Infosys and ITC. S&P BSE Sensex fell 264 points, or 0.54 per cent, to settle at 48,174 while the broader Nifty 50 index slipped below the crucial 14,150-mark and ended the session at 14,133, down 66 points or 0.47 per cent. Out of 30 Sensex stocks, 13 scrips ended in the green, led by Power Grid Corporation of India. Bharti Airtel, ONGC, UltraTech Cement, ICICI Bank, State Bank of India (SBI), and Kotak Mahindra Bank were among top Sensex gainers. The trend among the Nifty sectoral indices was mixed. Nifty IT and Nifty FMCG indices were the top sectoral losers on the NSE, down 1.36 per cent and 1.13 per cent, respectively. On the flip side, Nifty Metal index ended 1.3 per cent higher.
President Ram Nath Kovind would address the joint sitting of the two Houses of Parliament on January 29, a Friday, and the Union Budget would be presented on February 1, PTI mentioned sources as citing the CCPA recommendations. The Economic Survey would be tabled in the Lok Sabha on January 29 after the President’s address, the sources said.
Highlights
S&P BSE Sensex fell 264 points, or 0.54 per cent, to settle at 48,174. Nifty 50 index slipped below the 14,150-mark and ended the session at 14,133, down 66 points or 0.47 per cent.
Domestic equities witnessed high volatility today and corrected mainly on turning outcome of Georgia’s run-off elections for two Senate seats in the favour of Democrats. Control of Senate by Democrats is likely to result in reversal of lower tax rates in the USA, which may create certain volatility in the market. Volatility index shot up sharply today over 5% at one point of time. A continued buying was seen in financials and metals stocks, whereas IT, FMCG and Pharma stocks were in pressure: Binod Modi, Head Strategy at Reliance Securities
Indian stock markets and many around the world are touching historic highs. Boardrooms of unlisted companies are discussing ways and means to assess the timing of their Initial Public Offers (IPOs). An IPO is a landmark event in the life of any company. Every promoter dreams to make the company public. Some of key questions which we continue to deal with management in the boardroom pertain to why go public with an IPO, which is the right market to list it and what it takes to make it successful.
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Broader markets were also trading lower. S&P BSE MidCap index fell 0.30 per cent or 55.63 points to 18,620.50, while S&P BSE SmallCap index was ruling at 18,523.77, down 118 points or 0.63 per cent.
Bitcoin traded above $35,000 for the first time in Asia on Wednesday, rising to a high of $35,879 and extending a rally that has seen the digital currency rise more than 800% since mid-March. The world’s most popular cryptocurrency crossed $20,000 for the first time ever on December 16.
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Sell Infosys at Rs 1285/1290 per share with a stop loss at Rs 1,313 and a target of Rs 1,233 apiece.
Transactions in India's office space market for the full year 2020 was lower by 35% when compared to data of 2019. Due to lockdown and the subsequent trend of work from home, created a huge disruption for the industry. The transactions witnessed in 2020 should be compared with 2019 keeping in mind the high base attained in 2019 due to a combination of multiple positive factors: Krish Raveshia, CEO, Azlo Realty on commercial real estate in H2CY20
Barring Nifty Metal index, all the nifty sectoral indices were trading in the red. Nifty PSU Bank, Nifty Pharma and Nifty Auto indices were down over 1 per cent
Top BSE Sensex gainers are Power Grid Corporation of India, ONGC, Bharti Airtel, ICICI Bank, State Bank of India (SBI), Titan Company and Kotak Mahindra Bank
IIFL Securities announced today that it has retained its leadership position in equity capital raise by IPO for private sector corporates for the last 4 fiscal years (i.e. FY18-21 till date) in terms of total amount raised. Prime Database league tables shows that IIFL is ranked no 1, for the period starting April 1, 2017 to December 31, 2020. During this period, there were 70 equity IPOs by private sector firms aggregating to a total equity capital raising of Rs 82,177 crores. IIFL Securities topped the league table during the period and raised on an aggregate basis, equity capital of approximately Rs. 37,136 crore (45.20% of the total capital raised) on full credit basis.
Index heavyweights such as Reliance Industries Ltd (RIL), Infosys, ITC, TCS and HDFC, among others, contributed the most to the Sensex' loss.
BSE Sensex was hovering around 48,100, while the broader Nifty 50 index was ruling below 14,100 levels in the afternoon deals on Wednesday.
China’s Alibaba Group Holding Ltd plans to raise at least $5 billion through the sale of a U.S. dollar-denominated bond this month, four people with knowledge of the matter said, amid regulatory scrutiny of co-founder Jack Ma’s empire.
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Titan Company share price scaled fresh 52-week high for the second consecutive day on Wednesday, rising over 3 per cent on BSE. Rakesh Jhunjhunwala’s favourite stock surpassed its previous 52-week of Rs 1,576 per share. With today’s gain, Titan shares have rallied over 125 per cent from the March low of Rs 720, taking the total market capitalisation of the company to Rs 1.40 lakh crore
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Rupee has its near term support at 73.00 levels which the pair count break successfully and resistance is around 73.50 levels. As long as the pair trades above 73.00 mark, one can cover import payments around 73.00-73.20 levels. For selling near term exposures, one can look for upticks around 73.40-73.50 levels: Amit Pabari, managing director, CR Forex Advisors
1. Buy Dabur India at Rs 537/38 with a stop loss of Rs 526.5 apiece and target of Rs 565 per share2. Buy Britannia Industries at 3590/3600 with a stop loss at Rs 3,545 and target of Rs 3,725 apiece
14200-14250 can pose as a resistance patch for the Nifty. If we can keep above 14250, we could travel to 14350. Since we are in unchartered territory, traders should trade cautiously and update their stops on a continuous basis. 13950-14000 is a good support: Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments
Banks, which underperformed the Nifty in 2020, are staging a comeback. Data regarding deposit growth and loan growth for Q3 for HDFC Bank is very positive. This trend is likely to be repeated for other top private sector banks too. The high volume of delivery based buying in these stocks is an important indicator. While macroeconomic news continues to be positive, the rising crude is a dampener. Higher crude means higher cost-push inflation, which, in turn, might force the RBI to depart from the accommodative policy stance: V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
Out of 30 Sensex stocks, 9 scrips were trading in the red with HCL Technologies slipping 0.7 per cent. Axis Bank, ITC, Tata Consultancy Services (TCS), RIL, HUL were among top BSE Sensex laggards.
Top BSE Sensex gainers were ONGC, Titan Company, NTPC, ICICI Bank, IndusInd Bank, Bajaj Finance, Bajaj Finsv, Bharti Airtel, among others.
BSE Sensex was up 100 points to trade at 48,527, while the broader Nifty 50 index was ruling at 14,223 levels on Wednesday
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COMEX gold tested the highest level since early November but has retreated to trade mixed near $1950/oz. Supporting gold price is hopes of continuing US stimulus measures, worsening virus situation and increased geopolitical tensions relating to Iran and increased US-China tensions. ETF outflows however show wariness in investors. The general momentum is positive however hopes of Democrat win in Georgia and Fed's dovish stance has already been factored in and this may limit the gains.:Ravindra Rao, VP- Head Commodity Research at Kotak Securities
MCX Gold is likely to witness profit booking in the first half however, key focus would be on ADP employment change, Georgia results and dollar's move as FOMC to release minutes of the last meeting overnight. The undertone is positive but we caution against profit booking too.: Jigar Trivedi, Fundamental Research Analyst, Anand Rathi Shares and Stock Brokers
We met IGL’s new Managing Director, Mr A K Jana, as part of our CGD CEO e-Series Conference. IGL’s volumes are poised to accelerate structurally. The new MD believes recent open access regulation is favourable for CGD incumbents as well, which will sustain profitability.: Edelweiss
BSE Sensex jumped over 200 points to trade at 48,654, while the broader Nifty 50 index was ruling at 14,373, rising 174 points in the pre-opening session on Wednesday
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HDFC Bank: HDFC Bank reported double-digit growth in deposits and advances in the third quarter ended December 31. IndusInd Bank: Private lender IndusInd Bank has registered a 3.2% quarter-on-quarter (q-o-q) growth in the net advances in the December quarter.
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On Tuesday, foreign institutional investors (FIIs) lapped up shares worth Rs 986.3 crore, whereas domestic institutional investors (DIIs) offloaded shares worth Rs 490.03 crore on a net basis in the Indian equity market, according to the provisional data available on the NSE.
Asian stock market peers were seen trading mixed in early trade today with Japan’s Nikkei 225 down 0.36 per cent. While the Topix index gained 0.16 per cent and South Korea’s Kospi fell 0.14 per cent.
In overnight trade on Wall Street, US indices ended higher. The Dow Jones Industrial Average closed up over half a per cent, the S&P 500 gained 0.71 per cent, and the Nasdaq Composite added nearly one per cent.
Market regulator Sebi has lifted the market ban imposed on seven entities, which came under the scanner in a front-running case, involving some dealers of Reliance Securities and their connected entities. It was alleged that the entities violated the provisions of PFUTP (Prohibition of Fraudulent and Unfair Trade Practices) norms.
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Union Budget 2021 Date: The Cabinet Committee on Parliamentary Affairs (CCPA) has recommended that the Budget session of Parliament be held in two parts from January 29 to April 8, and all COVID-related protocols including the shift system are likely to be followed as was done during the Monsoon session. According to the Committee’s recommendation, Part 1 of the Budget session would be held from January 29 to February 15, and Part 2 from March 8 to April 8.
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The rupee fell to 73.18 on Tuesday, losing 0.2% to the dollar, the most in seven weeks amid concerns India’s trade deficit would widen further in the coming months as the economy recovers. The currency markets also apprehend foreign flows into the equity markets could slow after record levels of buying; so far in January, however, FPIs have been big buyers.
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