Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic markets resumed the uptrend on Friday as bulls revived benchmark indices in the dying hour of trade. S&P BSE Sensex added 142 points or 0.24% to close at 59,744 while the NSE Nifty 50 index closed 66 points or 0.38% higher at 17,812. Bank Nifty was up 0.67% on the closing bell while broader markets ended the day largely in the red, barring the smallcap 50 index. India VIX fell 2.11% to settle at 17.6 levels. Asian Paints was the top Sensex gainer, up 1.8%, followed by TCS, Nestle India, and Ultratech Cement. Bajaj Finserv was the top drag, falling 1.4%, accompanied by Mahindra & Mahindra, Larsen & Toubro, and Bajaj Finance.
Domestic benchmark indices closed higher on Friday after bulls forced Sensex and Nifty higher in the dying hour of trade. S&P BSE Sensex added 142 points or 0.24% to close at 59,744 while the NSE Nifty 50 index closed 66 points or 0.38% higher at 17,812. Asian Paints was the top Sensex gainer, up 1.8%, followed by TCS, Nestle India, and Ultratech Cement. Bajaj Finserv was the top drag, falling 1.4%, accompanied by Mahindra & Mahindra, Larsen & Toubro, and Bajaj Finance. Bank Nifty was up 0.67% on the closing bell while broader markets ended the day largely in the green, barring the smallcap 50. India VIX fell 2.11% to settle at 17.6 levels.
Sensex ended 142 points or 0.24% higher at 59,744 on Friday while the NSE Nifty 50 index added 66 points or 0.38% to settle at 17,812.
Sensex and Nifty were soring higher with minutes left before the closing bell. Sensex was up nearly 200 points while Nifty 50 was comfortably above 17800.
India VIX, the volatility gauge, was down in red ahead of the closing bell on Friday. The index was down 1.8%. hovering around 17.6 levels.
Rakesh Jhunjhunwala has exited smallcap real estate stock TARC or The Anant Raj Corporation in the December 2021 quarter, the latest shareholding data suggested. At the end of the September 2021 quarter, Rakesh Jhunjhunwala held 46.95 lakh shares or 1.6 per cent stake in the real estate firm. However, Rakesh Jhunjhunwala’s name didn’t appear in the list released by the company on BSE. Companies don’t need to report the names of shareholders holding less than one per cent stake in the company. Trendlyne data shows Rakesh Jhunjhunwala’s holding in TARC as ‘below 1%’ as of 31st December 2021.
Nifty was nearing 17700 level during the afternoon trade on Friday, while Sensex was down more than 100 points.
Sensex gave up gains to trade flat with a positive bias on Friday. Bajaj Finser was the top drag on Sensex, down nearly 2%, followed by Bajaj Finance, and Larsen & Toubro.
Bharti Airtel, Indus Towers and Sterlite Technologies shares are among CLSA’s top stock picks in the telecom sector for this year. The brokerage firm has raised the target prices on Bharti Airtel, Vodafone Idea and Indus Towers stocks, saying that the telecom companies are set to gain from multiple growth triggers this year. India’s telecom sector is set to witness strong growth in 2022, led by rising Average revenue per user (ARPU), increased 4G penetration, and transition to 5G, said CLSA. “2022 sector revenues would grow again, with prepaid tariff hikes by Bharti Airtel, Vodafone Idea, and Reliance Jio and 4G mobile data penetration reaching 83% by FY24CL,” CLSA said.
Rakesh Jhunjhunwala’s favourite Titan Company stock hit a fresh record high of Rs 2,687.30 apiece, up 3.5 per cent, on BSE on Friday, as the company witnessed a 36 per cent revenue growth in Q3. Titan share price surpassed its previous high of Rs 2,678.10, touched in October last year. According to the shareholding pattern of Titan Company, Rakesh Jhunjhunwala, along with his wife Rekha Jhunjhunwala hold a combined 4.9 per cent stake or 4.33 crore shares in the company.
At the start of the year, the gold bulls party was popped by the US Fed hawkish tone. The Federal Reserve’s FOMC minutes that were released this week indicated a tight U.S. job market and rising inflation which might require the central bank to raise interest rates even sooner than many already expected. The minutes suggested that inflationary concern outweighed economic risk posed by the new variant of Covid-19. Rising interest rate helps US Treasury yields rise which is bullish for the US dollar. Both Treasuries and Dollar rising are negative for bullions.
A total of 427 stocks on BSE hit a 52-week high as of 11:00 am Friday, while five stocks hit a 52-week low. Asian Paints, Titan, Zee Media, Zee Learn, JBM Auto, Share India, Quint, Pidilite, Lloyd Steel were among the stocks that hit a 52-week high on the BSE. While five scips including Paytm, PB Fintech, Janus Corporation, Nippon India Equity Savings Fund, Suvidha Infraestate Corporation Ltd. hit 52-week lows today.
“While anticipating a turn higher from the 17680 region yesterday, our favored view was a quick return to the 18100 trajectory. While the objective would still be in play, we feel a consolidation would prevail over upside attempts. Though the turn of events is consistent with our reading of oscillators, we prefer to be watchful near 17800, for a shift in momentum,” said Geojit Financial Services.
“The spike in the volatility Index India Vix by 4.35%, renewed big FII selling (Rs 1927cr) after 4 days of consecutive buying and the US 10-year bond yield spiking to 1.71% indicate imminent volatility and uncertainty regarding short-term trends. While the tightening global monetary backdrop is a concern for equity markets, the improving corporate earnings scenario and the resilience of retail investors and DIIs are positive. An important trend in the market is the resilience of the mid and small-cap segments where there is no FII selling and the weakness in banks and IT where FIIs have been selling. The takeaway is that the moment FII selling stops, IT and banks will bounce back.
Short-term trend is highly uncertain. Long-term investors can use corrections to buy large-cap IT and leading banks,” said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
NSE Nifty 50 index is eyeing 18100-18200 target, and Bank Nifty 38000-38300 target in the current week to 13 January 2022 options expiry, said analysts. In today’s session, Nifty 50 was trading over half a per cent higher at 17,830.65, while Bank Nifty topped 37,800. Nifty has witnessed a decent recovery in the last three weeks and recently surpassed the hurdle of 17,650 zone. Analysts say that it is currently trading comfortably above the support zone of the moving averages ribbon as well. Both Nifty 50 and Bank Nifty ended the previous weekly F&O expiry on a negative note. Nifty settled 6th January expiry at 17,745, and Bank Nifty at 37,490.25 levels.
The rupee is expected to depreciate on strong dollar and surge in crude oil prices. Further, investors fear the Fed may respond more aggressively to tame stubbornly high inflation than previously anticipated, which may prompt foreign investors to pump out liquidity from emerging markets. Additionally, market participants will remain vigilant ahead of jobs data from the US.
Sensex rose more than 200 points on the opening bell to breach 59,850. Nifty 50 index was in the green, regaining 17,800.
Banking stocks will be in focus as rating agency ICRA said the asset quality of the banking system, especially the restructured book, may face headwinds in the coming days as Covid-19 cases have started rising rapidly once again. Sugar industry stocks will be in limelight as trade body AISTA demanded respective state governments to allow truck movement 24X7 to increase the pace of export with maximum quantities of exportable sugar getting lifted from Maharashtra and Karnataka putting pressure on logistics. On technical front, Nifty's immediate support and resistance can be 17,500 and 18,000 respectively. While for Bank Nifty 36600 and 38000 may act as immediate support and resistance.
~ Mohit Nigam, Head – PMS, Hem Securities
Sensex was trading with gains during Friday's pre-open session while Nifty regained 17800.
Reliance Industries (RIL) on Thursday said it has raised $4 billion in India’s largest-ever foreign currency bond issuance. The multi-tranche bonds were oversubscribed three times. The company said, proceeds from the issuance will be used to refinance high-cost borrowings.
“Markets may witness further consolidation however the bias would remain on the positive side till Nifty holds a 17,400 zone. Apart from the global cues and COVID news, the earnings-related updates would keep the volatility high. Traders should continue with a positive yet cautious approach and focus more on sectors/stocks selection.”
~ Ajit Mishra, VP – Research, Religare Broking
“Nifty closed the day with a quality reversal from the lows. Nifty made a low of 17650 and closed the day off the lows. The pattern for the day is a spinning top sign of indecision in the market. Nifty remains in a firm uptrend. In a fast up trend the corrective declines coils last on for two to three days. The underlying trend is sharply up Nifty may see a sideways range bound action between 17650-18003 but probabilities favour a rally to 18250-18300 over the next 5-10 days.The mathematical indicators point towards an uptrend MACD is in a buy mode and RSI holds above 60. Traders should consider retaining long positions and keep a view with a bullish bias,” said Manish Shah, Independent Technical Analyst.
Bears dominated Dalal Street on Thursday as Indian equity markets snapped the 4-day winning streak to end in red. Both benchmarks BSE Sensex and NSE Nifty opened gap down and witnessed selling pressure in line with global peers. While Sensex fell 621.31 points to close at 59,601.84, the Nifty50 declined 179.40 points to 17,745.90. However, broader markets closed in green with minor gains of 0.2%. “While the market trend might be volatile in the near term on account of potential risk from Omicron variant, upcoming budget and fragile global cues, in the long run, strong earnings delivery along with positive macro-economic data would hold the key to drive markets”, said Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services Ltd. Key things to know before market opening bell
Domestic equity market benchmarks BSE Sensex and Nifty 50 were staring at a muted start on Friday, as suggested by trends on SGX Nifty in early trade. Nifty futures were trading 13.50 points up at 17,833 on the Singaporean Exchange. In the previous session, headline indices snapped their 4-day rally due to a decline in the overseas markets after minutes of the US Federal Reserve’s recent meeting suggested an earlier-than-expected rise in interest rates. Sensex tanked 621 points of 1.03% to end at 59,601 while NSE Nifty 50 sunk 179 points or 1% to close at 17,745. Technical analysts say that after an intraday sharp fall, the market took the support near 17650/59300 and reversed but failed to surpass 17800/59800 resistance level which is broadly negative.
“Nifty supports now placed at 17650 and 17700. Sustenance above 17800 can open the way for 18150 as our next target. On the flip-side, 17650 is broken it will change the bias to bearish in the near term,” said Rahul Sharma, Director & Head – Research, JM Financial.
“Nifty fell as expected after a strong four-day up-move. However, the advance decline ratio is still at 1:1 suggesting broad market strength amidst selling in index heavyweights. Local traders are accumulating mid and smallcap stocks ahead of the Union budget and Corporate results for Q3FY22. 17828 will now be a resistance for the Nifty in the near term while 17640 will be a support,” said Deepak Jasani, Head of Retail Research, HDFC Securities.
SGX Nifty was trading with gains on Friday morning. Nifty futures were up 30 points, hinting at a flat to positive start to the day's trade.
Hyperlocal delivery platform Dunzo on Thursday said it has raised $240 million in its latest round of funding led by Reliance Retail Ventures (Reliance Retail) along with participation from existing investors Lightbox, Lightrock, 3L Capital and venture debt provider Alteria Capital.
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