All the Nifty sectoral indices were ruling in the positive territory, led by Nifty Auto index, up 1 per centShare Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic equity market benchmarks BSE Sensex and Nifty 50 were trading at fresh record highs in today’s session, backed by strong global cues. BSE Sensex was trading above 50,050 for the first time ever, while the broader Nifty 50 index crossed the crucial 14,700, gaining 90 points or 0.61 per cent. Bajaj Finance, Bajaj Finserv, HCL Tech, IndusInd Bank, Bajaj-Auto, Ultratech Cement, Reliance Industries Ltd (RIL), Tech Mahindra and Titan Company were among top Sensex performers. On the flip side, Tata Consultancy Services (TCS), Housing Development Finance Corporation (HDFC) and HDFC Bank were the index laggards. All the Nifty sectoral indices were ruling in the positive territory, led by Nifty Auto index, up 1 per cent. The broader markets outperformed the equity benchmarks today. S&P BSE MidCap index jumped 0.69 per cent or 132 points to 19,288, while the BSE SmallCap index surged 0.68 per cent or 126.86 points to 18,870.
Home First Finance Company (HFFC) on Wednesday raised a little over Rs 346 crore from anchor investors, ahead of its initial public offer, which opens for public subscription on Thursday. A total of 66.81 lakh shares have been allotted to 25 anchor investors at Rs 518 per share, the upper end of the price band. At this price, the company raised Rs 346.11 crore, according to a BSE circular.
Highlights
Strong global markets helped the BSE Sensex hit the magical 50000 mark in the early morning trades on Thursday. The BSE Sensex index open at a record high of 50096.57 to further hit an all-time high of 50126.73. The rally from 40000 to 50000 has been phenomenal, post sharp correction in August 2020 when the Sensex hit 40000, the index has gained 10000 points in 100 days. Pharma, IT and Metal and selective banking stocks were the major contributor for the index to surge from 40000 to 50000. The markets will remain volatile ahead of the Union Budget. The ideal strategy should be to buy on dips buy between 49600-49500 and keep a final stop loss at 49200 for the same. On the other side, the market can scale higher with the uptrend wave likely to continue up to 50800 – 51750. The focus should be on commodities and auto companies: Shrikant Chouhan, Executive Vice President (Technical Research Analyst), Kotak Securities
It is a momentous day for India's capital markets as the Sensex touched 50,000 on Jan 21. The gain of last 5,000 points has come in just 32 trading sessions. Expectations of turnaround in the economy post Covid vaccinations and continued FPI inflows have led to this kind of gains for Indian markets in a globally low interest scenario. Post the Forthcoming Union Budget we may witness a temporary brake to the uptrend and further upmoves from hereon will depend on the pace of economic and corporate earnings growth and the trajectory of inflation and interest rates in India and the world: Deepak Jasani, Head of Retail Research, HDFC Securities
As equity markets all scale new highs USDINR gets sold off as inflows continue and demand for $ is very poor. For today 72.80 to 73.20 could be the range with all upticks to be sold. Let's see RBI resolve to keep rupee below 73.00.: Anil Kumar Bhansali, Head- Treasury, Finrex Treasury Advisors
We believe equity culture is at an inflection point in India. With solid research and investing in the right stocks and mutual fund SIPs investors can benefit. However one should be extremely cautious and not over-leverage at high levels.: Sandeep Bhardwaj, CEO, Retail, IIFL Securities
For the first time ever, Sensex crossed the psychological 50000 mark at today's open, boosted by strong overnight cues from Wall Street and Asian markets today. Risk assets worldwide have reacted quite positively post Joe Biden's inauguration as the US President. Meanwhile, Nifty also hit a record high today, extending its advance for a third straight session. Both Nifty and Sensex have surpassed their prior week's high of 14653 and 49795, respectively. This, in turn, has negated the Spinning Top candles that formed on the weekly charts last week. With global risk appetite quite positive, index heavyweight sectors such as banking and IT showing strength, and the largest component Reliance Industries resuming its rally after several weeks of consolidation, Indian markets look set to extend gains further in the short-term. For Nifty, the immediate upside is now at 15000; while for Bank Nifty, the corresponding upside is at 51500. Immediate support is now placed at 14650 for Nifty and 49700 for Sensex: Abhishek Chinchalkar, CMT Charterholder and Head of Education, FYERS
Domestically, sentiments remain boosted on strong inflows on account of dollar uncertainty helping USDINR pair stay on appreciation mode. RBI’s open market operation worth Rs 10000 crores are due today. With risk-on appetite attracting more inflows on side while RBI’s tolerance on downside will drive the rupee momentum. As indicated by RBI Governor last week that FX intervention will remain an integral part of the policy, further actions by RBI will be seen by the market players. With next technical support at 72.80,any intervention by RBI may protect the 72.90-73.00 zone ,therefore one can buy on dips near 72.90-73.00 and sell on upticks above 73.40 levels in the near term.: Amit Pabari, managing director, CR Forex Advisors
After crossing the 14550-14600 resistance zone yesterday, we are headed to 14800-14900. This rally could even extend to 15000. The index has a good support at 14300. Any intra day dip can be bought into for higher targets. However, caution is advised as markets can get volatile during corrections. The best way to address the volatility would be to update stops on a regular basis.: Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments
The liquidity expansion by the central bank and the ample FII driven liquidity, a V-shaped recovery of growth aided by the discovery of the vaccine, and most recently the change of guard in the US have been some of the factors propelling markets higher and higher. As the Sensex crosses the 50k, the valuations do look stretched. The valuations are a function of earnings and earnings not coming through remains the key risk at the current juncture.: Joseph Thomas, Head Of Research, Emkay Wealth Management
The smooth transition in the US and President Biden's healing speech lifted the US markets to record highs. This feel-good factor is likely to spread to other markets too. FII inflows which had declined a bit during the last few days, have again turned strong going above Rs 2200 crores yesterday. Apart from robust FII inflows, another major factor supporting the rally is the impressive corporate results which started in Q2 and continue in Q3. While enjoying this bull run, investors should not be carried away by the euphoria. At high levels, markets are vulnerable to corrections: V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
Tata Consultancy Services (TCS), Housing Development Finance Corporation (HDFC) and HDFC Bank were the index laggards.
Bajaj Finance, Bajaj Finserv, HCL Tech, IndusInd Bank, Bajaj-Auto, Ultratech Cement, Reliance Industries Ltd (RIL), Tech Mahindra and Titan Company were among top Sensex performers.
The initial public offerings (IPO) of 2021 have so far garnered decent interest. The second public issue of the year, Indigo Paints, was oversubscribed by investors on the very first day of the subscription window. Hoping to tread on the same path, Home First Finance’s IPO will open for subscription today, making it the third offering of 2021 so far. Ahead of the issue, the firm has raised Rs 346 crore from marquee foreign and domestic investors, allotting them 66.81 lakh equity shares at Rs 518 per share.
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BSE Sensex hit the psychological 50,000-mark for the first time ever on Thursday. It took a little over three months for BSE Sensex to climb from 40,000 to 50,000 points, and took just nine sessions to gain 1,000 points from 49,000 points. Broader index Nifty 50 breached the crucial 14,700 level on the upside. According to the data available on the National Stock Exchange, the index closed the previous session with a P/E multiple of 39.55. According to the analysts, even as Sensex hit 50,000, there are bumps ahead. The market is likely to turn highly volatile during the Union Budget 2021.
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BSE Sensex jumped over 240 points or 0.50 per cent to hit 50,000-mark for the first time ever, while the broader Nifty 50 index crossed the crucial 14,700 on Thursday.
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COMEX gold trades marginally higher near $1869/oz after a 1.4% gain yesterday. Gold is supported by weakness in the US dollar; increased US stimulus expectations; rising virus cases and increased US-China tensions. However; weighing on price is vaccine progress and weaker investor interest as is evident from ETF flows. Gold's break past the $1860/oz may lead to extended gains however the momentum may sustain only if there is progress on US stimulus talks: Ravindra Rao, VP- Head Commodity Research at Kotak Securities
Reliance Industries Ltd (RIL), HCL tech and Bajaj-Auto were the top BSE Sensex gainers in the pre-open session today
BSE Sensex jumped over 250 points or 0.52 per cent to hit 50,000-mark for the first time ever, while the broader Nifty 50 index crossed the crucial 14,700 in the pre-opening session o Thursday.
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A total of 57 companies including Asian Paints, Bajaj Auto, AAVAS Financiers, SBI Cards and Payment Services, Bajaj Holdings & Investment, Bandhan Bank, Biocon, Cyient, Jindal Steel & Power, JK Tyre & Industries, Kajaria Ceramics, Reliance Power, Zensar Technologies and Zicom Electronic Security Systems are set to announce their quarterly earnings on January 21.
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Nifty continued with a sustainable upmove for the second consecutive session on Wednesday and closed the day higher by 123 points. Nifty registered a new all-time high at 14666 in the latter part of the session. Another long bull candle was formed, which indicate an uptrend continuation pattern. The previous four sessions decline has been retraced completely in the last two sessions. This faster retracement could signal further upside in the short term.
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On Wednesday, foreign institutional investors (FIIs) pumped in Rs 2,289.05 crore, whereas domestic institutional investors (DIIs) offloaded shares worth Rs 864.62 crore on a net basis, according to the provisional data available on the NSE.
The initial public offer of Indigo Paints was subscribed 1.90 times on the first day of bidding on Wednesday. The offer received bids for 1,04,67,410 shares against 55,18,402 shares on offer, as per data available with NSE. The portion reserved for qualified institutional buyers (QIBs) was subscribed 10 per cent, non institutional investors 1.10 times and retail individual investors (RIIs) 3.29 times.
HFFC raised a little over Rs 346 crore from anchor investors on Wednesday. A total of 66,81,766 shares have been allotted to 25 anchor investors at Rs 518 per share, the upper end of the price band. At this price, the company raised Rs 346.11 crore, according to a BSE circular.
In overnight trade US stocks closed at record highs on Joe Biden’ swearing-in and nearly 17 per cent rally in Netflix share price. The Dow Jones Industrial Average rose 0.83 per cent, the S&P 500 gained 1.39 per cent, and the Nasdaq Composite added 1.97 per cent.
Mirroring the Wall Street rally, Asian stock market were also seen trading higher with Japan’s Nikkei 225 rising 0.79 per cent. Topix index advanced 0.67 per cent.
Domestic equity markets continued to climb higher on Wednesday, this time reach fresh all-time highs. S&P BSE Sensex now sits at 49,792 points while the broader Nifty 50 index was at 14,644. For Thursday, SGX Nifty was trading 52 points higher, hinting at a continuation of the trend of the last two days. On Wednesday, Wall Street was cheering the 46th President of The United States, as equity indices surged during the day’s trade. The same positive momentum was carried on to Asian markets.
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The government will get Rs 1,544 crore from the initial public offering (IPO) of Indian Railway Finance Corporation. The Rs 4,633 crore IPO of Indian Railway Finance Corporation (IRFC) was subscribed 3.49 times on the final day of bidding on Wednesday. So far in current fiscal, the government has mopped up Rs 15,220 crore from disinvestment and share buyback.
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