Share Market News Today | Sensex, Nifty, Share Prices LIVE: Indian equity markets started off the second week 2022 on a strong note despite mixed global cues. Hopes of a stellar earnings season from India Inc pushed buying, and led to BSE Sensex reclaiming 60,000 mark, Nifty50 settling above the psychological 18,000-mark, on Monday. Early trends on SGX Nifty today hinted at a flat to negative start for the broader index in India as the Nifty futures were trading around 17,987.50 level on the Singaporean Exchange. Global cues were mixed as all three major Wall Street indexes ended in green on Monday. After falling nearly 3%, Nasdaq regained all its losses in afternoon trade. The Dow Jones Industrial Average fell 0.45%, while the S&P 500 lost 0.14%. In Asia, Hang Seng Index slipped 0.29%, Shanghai Composite Index eased 0.10%. Japan’s Nikkei 225 index dropped 0.34%, while the broader Topix index fell 0.05%
Shares of Paytm (One 97 Communications) will remain in focus on Tuesday. Number of loans disbursed through Paytm’s platform increased by 401% YoY to 0.44 crore loans in Q3FY 2022. The value of loans disbursed through the platform in Q3 FY 2022, was Rs 2,180 crore, an increase of 365% YoY. Paytm has seen a stellar growth in each of its lending products. However, the share hit 52-week low on Monday and share price may extend its losses further and erase more than half of IPO investor’s wealth, said foreign brokerage firm Macquarie in a note. The brokerage firm has cut its target price for the fintech giant to merely Rs 900 per share, 25% lower from its previous target of Rs 1,200 and 58% below the public issue price of Rs 2,150. Shares of Paytm have had an abysmal journey so far on Dalal Street since listing in November last year. The stock is down 45% from the IPO price.
The board of Vodafone Idea Ltd has approved conversion of AGR dues and spectrum interest into equity, leading to the government becoming a nearly 36% stakeholder in the telecom company. Following conversion, it is expected that the Government will hold around 35.8% of the total outstanding shares of the Company, while the promoter shareholders Vodafone Group and Aditya Birla Group would hold around 28.5% and around 17.8% stake in the company respectively.
Future Retail: Amazon has moved the Supreme Court against the Delhi High Court’s order that stayed the arbitration proceedings initiated by the e-commerce giant before a Singapore tribunal against Future Retail.
Telecom stocks: The adjusted gross revenue (AGR) of the telecom industry rose 4.24% sequentially to Rs 53,510 crore for the July-September 2021 period. The access services or mobile services AGR of Bharti Airtel, Reliance Jio and Vodafone Idea rose during the period, while that of state-run BSNL witnesses a drop, showed data released by TRAI.
Benchmark indices are trading flat in the pre-opening session. At 09:03 am, the Sensex was down 91.84 points or 0.15% at 60303.79, and the Nifty was down 31 points or 0.17% at 17972.30.
Benchmark Indices are expected to open on negative note as suggested by trends on SGX Nifty. Both European and US markets closed in red. Asian markets are also trading in red. India continues to witness exponential rise in new covid cases but the hope of stupendous earning season along with positive sentiment regarding the forthcoming budget continues to drive the market in upward trajectory. Benchmark indices may face some resistance around 18150 and 18200 and can witness a minor corrective fall, said Mohit Nigam, Head – PMS, Hem Securities.
Nifty closed at call writing resistance of 18000 while Put writers were seen shifting base to 17800. Nifty PCR has risen to 1.45 level. Both Nifty Futures and Bank Nifty Futures added longs but volumes were on lower side by 25% indicating lack of participation at higher end. FIIs took a back seat but it was DIIs and Retail which added longs yesterday. Expect more upside if 18,050 is surpassed which can take Nifty up to 18200-18250. Support zone placed at 17800-17850, said Rahul Sharma, Director & Head – Research, JM Financial Services.
Asian stocks slipped Tuesday and U.S. futures fluctuated ahead of a key inflation print stateside that’s expected to strengthen the case for tighter monetary policy. A gauge of Asia Pacific shares dropped with modest losses seen in many markets. S&P 500 contracts were little changed after the benchmark posted its longest losing streak since September, though dip buyers emerged late in the session to wipe out almost all intraday losses.
Nifty has finally reclaimed the 18000 mark within a very short period post the recent correction. This clearly indicates the strong momentum and buying interest of market participants. In our last week’s update, we had mentioned about the target zone of 18000-18050 for Nifty which was achieved today. Now, although the trend continues to be positive, the index is trading around its short term hurdle as a certain combination of retracements of the recent correction points out resistance in the range of 18000-18100, said Ruchit Jain, Lead Research, 5paisa.com.
“Nifty finds support around 17650 while 18200 will act as resistance. Bank Nifty finds support around 37650 while 38650 will act as resistance on the upside,” said IIFL Securities.
Early trends on SGX Nifty hinted at a flat to negative start for the broader index in India, with a loss of 65 points or 0.36%. The Nifty futures were trading around 17,982.50 level on the Singaporean Exchange at 7:30 am.
The Indian equity markets started the week on a strong note, with the Sensex closing above 60,000 and the Nifty going past the psychologically important 18,000-mark on Monday. Despite mixed global cues, the market started strong and extended gains to close near the day's high as auto, bank, power and realty stocks lifted the indices. At close, the Sensex was up 650.98 points, or 1.09 percent, at 60,395.63, and the Nifty was up 190.60 points, or 1.07 percent, at 18,003.30.
Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market News Live Updates January 11
