Share Market Live: Sensex falls over 350 points, Nifty below 18,200; HCL Tech, HDFC, Axis Bank top losers

The Indian equity market opened  lower today amid negative global cues. Sensex fell 379 points to 60,856 and Nifty slipped 112 points to 18,145. HCL Tech, HDFC, Axis Bank and Asian Paints shares were the top Sensex losers, falling up to 2.69%.

The rising number of Covid-19 and Omicron cases in India and the world will dictate the course of the stock market this year, say experts.

Here's a look at the updates of the market action on BSE and NSE today.

11: 45 am: Aditya Birla Fashion to buy 51% stake in House Of Masaba Lifestyle for  Rs 90 crore

11: 20 am: AGS Transact Technologies IPO to open on Jan 19

Payments solutions provider AGS Transact Technologies has fixed a price band of Rs 166-175 a share for its initial public offering (IPO). The issue will remain open from january 19 to January 21. The firm is expected to list on exchanges on February 1.

Also read: AGS Transact IPO to open on Jan 19, price band fixed at Rs 166-Rs 175

11: 10 am: HCL Tech share trading lower ahead of Q3 earnings

The share of IT major fell 3.03% to Rs 1,292.8 against the previous close of Rs 1,333.25 on BSE.

11: 05 am: Paytm share zooms over 8% from day's low

Paytm stock rises 8.60% to Rs 1,080.60  on BSE. Earlier, the stock hit a low of Rs 995.

10: 45 am: Rakesh Jhunjhunwala raises stake in Titan

Ace investor Rakesh Jhunjhunwala has raised stake in jewellery-watches-to-eyewear maker Titan Company to 5.09 percent at the end of quarter ended December 2021. Titan Company share is trading 0.88% lower at Rs 2,595 against the previous close of Rs 2,618 on BSE.

10: 25 am: Rate hike in US

Federal Reserve policymakers this week signaled they will start raising US interest rates in March to battle inflation that's eroding the value of workers' recent wage gains and putting the policysetters under a political spotlight.  

10: 15 am: Market cap on BSE falls

Market cap of BSE-listed firms falls to Rs 277.66 lakh crore against Rs 278.14 lakh crore in the previous session.

10:00 am: Market breadth

Market breadth is positive with 1,833 stocks rising against 1,204 falling on BSE. 100 shares are unchanged.

9: 35 am: RIL share in the green, firm to invest Rs 5.95 lakh crore in Gujarat

Reliance Industries Limited (RIL) has signed a Memorandum of Understanding (MoU) with the Gujarat Government for a total investment of Rs 5.95 lakh crore in various projects as part of the Investment Promotion Activity for Vibrant Gujarat Summit 2022. These projects are expected to create 10 lakh direct/ indirect employment opportunities in Gujarat.The large cap stock is trading 0.78% higher amid a weak market. The stock rose 0.81% to Rs 2,556 on BSE

9: 30 am: Expert comment

Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services said, "Inflation is turning out to be a major worry for markets this year. December PPI inflation in the US has spiked to a record 9.7%. Inflation in the Euro Zone is already at record highs. If inflationary expectations get entrenched, the Fed will have to act early, perhaps in March itself. ECB too is likely to follow suit. Even though such an emerging scenario is unfavourable for equity, markets may not react negatively since the high negative real return from fixed income makes returns from equity attractive. Since retail investors are now a force to reckon with, whether in the US or India, their response to market corrections on rate hike expectations will be crucial.

FIIs again moving to sell mode ( Rs 1391 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"

9: 15 am: Market opens in red

Sensex falls 379 points to 60,856 and Nifty slips 112 points to 18,145. HCL Tech, HDFC, Axis Bank and Asian Paints shares are the top Sensex losers, falling up to 2.69%.Of 30 Sensex stocks, 25 were trading in the red.

8:40 am: Previous session updates

On Thursday, the Indian equity market closed in the green for the fifth consecutive session. Sensex rose 85 points to 61,235 and Nifty ended 45 points higher at 18,257. Tata Steel, Sun Pharma and L&T were the top Sensex gainers, rising up to 6.35%.

8: 30 am: FIIs in action

Foreign institutional investors (FIIs) sold shares worth Rs 1,390 crore on January 13, and domestic institutional investors (DIIs) lapped up shares worth Rs 1,065 crore, as per provisional data available on NSE.

8: 20 am: Global markets

In Asia, Kospi was trading 43 points lower at 2,919. Nikkei tanked 543 points to 27,945 and Hang Seng index fell 195 points to 24,234. On Wall Street, the S&P 500 lost 67.32 points to 4,659. The Dow fell 176 points to 36,113. The Nasdaq Composite declined 381 points to 14,806.