Markets at 12 noon
LIVE market updates: The benchmark indices were steady around the same levels, holding their opening losses. The BSE Sensex was down 323 points at 60,912 and the NSE Nifty was 82 points lower at 18,175.
The broader markets were seen outperforming the benchmarks. The BSE MidCap index was largely unchanged and the SmallCap index was up 0.3 per cent.
Among midcaps, Tata Consumer, RBL Bank, IRCTC, Oberoi Realty, Cummins India, Voltas, Whirlpool, ACC, ICICI Securities, BEL, Concor and Jindal Steel were the top gainers, up between 1.3-4.4 per cent.
BS Special: Metals poised for a rally, suggest charts; JSPL, Tata Steel are top picks
On the benchmark Sensex, financial stocks including banks, along with select counters such as Asian Paints, Airtel, HUL and HCL Tech were the major contributors to the index's 300 points loss.
Among sectors, cement and chemical stocks were the major outliers and were trading fairly higher.
From the cement space, shares of India Cements surged 5 per cent to Rs 257.60 on the BSE, extending their past two weeks-rally on the back of heavy volumes. In the past 11 trading days, the stock has soared 37 per cent from a level of Rs 187.80 on December 30, 2021. READ MORE.
_____________________________________________________________________________
Markets at 11 AM
LIVE market updates: The benchmark indices were seen holding losses in morning deals amid a bleak global sentiment. The BSE Sensex was at 60,924, lower by 310 points and the NSE Nifty was down 77 points at 18,180.
On the Sensex, Axis Bank was the biggest loser, down nearly 3 per cent, followed by Asian Paints, HCL Tech, HDFC, Wipro, ICICI Bank, IndusInd Bank, Dr Reddy's, Bharti Airtel and HUL, down between 1-2.6 per cent. On the Nifty, UPL and ONGC were the additional losers.
Among stocks,shares of Dilip Buildcon continued to reel under selling pressure, with the stock hitting a fresh 52-week low at Rs 394, down 3 per cent on the BSE. The stock of roads & highways construction company has dipped below its previous low of Rs 403 touched on January 25, 2021. READ MORE.
Further, shares of Mindtree dipped 6 per cent to Rs 4,477.25 on the BSE on profit booking on high valuation after the company reported a strong set of October-December quarter (Q3FY22) numbers both on revenue as well as margins front. READ MORE HERE.
Sectorally, all indices were in losses, led by banks and financials, that were lower by up to 0.9 per cent on the NSE.
"FIIs again moving to sell mode ( Rs 1,391 cr selling yesterday) may act as temporary headwind for some large private banking stocks in which FIIs have large holdings. This can turn out to be a buying opportunity for long-term investors", said VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
That apart, cement stocks were trading fairly higher in a subdued market. Shares of ACC, Nuvoco Vistas, Ambuja Cement, Orient Cement and India Cememt were up between 1.5-5 per cent.
______________________________________________________________________________
Markets at 10 AM
LIVE market updates: The benchmark indices were seen recouping opening losses and were down up to 0.3 per cent. The BSE Sensex was now down 182 points at 61,053 and the NSE Nifty was 54 points lower at 18,203.
The mild recovery in the indices was being supported by gains in heavyweignts RIL (up nearly 1 per cent) and HDFC Bank( up 0.5 per cent), followed by L&T, Ultratech Cement and Maruti.
On the Nifty, Tata Consumer, IOC, BPCL and SBI Life were the additonal gainers. Majority of stocks (30), however, were still negative.
Broader indices BSE MidCap and SmallCap were, however, outperforming the benchmarks and were up 0.2 and 0.3 per cent, respectively.
Among stocks, shares of Mindtree fell 5 per cent after the company posted Q3 results on Thursday.
Sectorally, all indices on the NSE, barring oil & gas and Consumer durables, were in the negative territory. Nifty IT was the biggest loser, down over a per cent.
________________________________________________________________________________
Opening Bell
LIVE market updates: The benchmark indices started lower on Friday, mirroring their global peers amid a weak market sentiment. The BSE Sensex was down 400 points at 60,837, and the NSE Nifty was at 18,143, lower by 114 points.
Sectorally, barring auto and oil & gas, all indices on the NSE were in red, led by Nifty IT index, which was down over 1 per cent and financials and banks, that were 0.6 per cent lower.
Among stocks, shares of Aurobindo Pharma were down over 2 per cent on the BSE after the company said its Unit I, which is an API manufacturing facility in Hyderabad, has received a warning letter from the US FDA.
Pre-open session
LIVE market updates: The benchmark indices were largely weak in pre-open trades. The BSE Sensex was 102 points lower at 61,132 and the NSE Nifty was lower by 108 points at 18,149.
________________________________________________________________________________________
LIVE market updates: Amid weak global cues, the benchmark indices are likely to open on a muted note on Friday. The SGX Nifty futures were seen quoting 18,225 level, about 60 points lower than Nifty's spot close on Thursday.
The market action is expected to be largely stock specific given the earnings season. IT major HCL Technology will be announcing its Q3 results.
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
RECOMMENDED FOR YOU