Markets at 12 noon
LIVE market updates: The headline indices continued to reel under selling pressure and were up to 0.7 per cent lower. The BSE Sensex was at 60,313, down by 440 points, while the NSE Nifty was 120 points lower at 17,992.
Among the losers on the Sensex, Asian Paints, Ultratech Cement, Infosys remained on top and were joined by Bajaj Finance, which was now trading nearly 2 per cent lower, shedding its early gains. The stock was down over Rs 400 from its day's high level.
On the flip side, Tata Steel was the top gainer, up 1 per cent, followed by Maruti M&M and HDFC Bank. Bajaj Auto was also up 1 per cent ahead of its Q3 numbers.
ALSO READ: HUL Q3 preview: Revenue may rise up to 12% YoY; margins to contract, analysts say
Sector-wise, only Auto, metals and energy stocks were trading higher. Meanwhile, Nifty IT index, down nearly 2 per cent , was still the biggest loser.
That apart, in the primary market, the IPO of AGS Transact Technologies was subscribed 62 per cent so far, on the first day itself. The portion reserved for retail investors was subscribed 0.8 times, while that of non-instituitonal investors was subscribed 0.9 times. However, the quota for qualified institutional buyers was not subscribed at all.
Among stocks, shares of Adani Green Energy (AGEL) continued their upward movement, hitting a new high of Rs 1,955.90, up 2.6 per cent on the BSE. A sharp rally in stock price of the company has seen, AGEL become the first Adani Group company to cross the Rs 3-trillion market capitalisation (market cap) today. READ MORE HERE.
Further, Tata Elxsi hit a new high of Rs 7,171 on rallying 13 per cent on the BSE after the company delivered another quarter of strong and consistent growth. The company saw 33.2 per cent year-on-year revenue growth and profit after tax (PAT) growth of 43.5 per cent in the December quarter. READ MORE.
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Markets at 11 AM
LIVE market updates: The benchmark indices continued to hold losses in morning trade. The BSE Sensex was 474 points lower at 60,280, and the NSE Nifty was at 17,977, down by 135 points.
Asian Paints and Ultratech Cement were now the top losers on the Sensex, down over 2 per cent each, whereas Infosys, HDFC, ICICI Bank, TCS and Kotak Bank contributed the maximum to the index's loss of 450 points.
The broader markets, meanwhile, were outperforming the benchmarks. The BSE MidCap index was down 0.6 per cent, while the SmallCap index was lower by 0.2 per cent. In comparison, the Sensex and Nifty were around 0.8 per cent lower.
Among stocks, shares of TV18 Broadcast surged 12 per cent to Rs 55.15 on the BSE after the company reported its highest-ever consolidated operating earnings before interest, taxes, depreciation, and amortization (ebitda) at Rs 355 crore with margins of 22.7 per cent for the December quarter. READ MORE.
Further, Triveni Engineering & Industries (TEIL) hit a new high of Rs 269.35, on soaring 6 per cent on expectations of a healthy growth in operating profits as well as strengthening of debt protection metrics in FY2022 and FY2023. READ MORE.
On the flip side, shares of L&T Technology Services were trading nearly 7 per cent lower on the BSE after the company reported its Q3 earnings, which failed to impress investors.
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Markets at 10 AM
LIVE market updates: The benchmark indices extended their opening losses and were 0.5 per cent lower in early morning trade. The BSE Sensex was down 285 points at 60,469 while the NSE Nifty was at 18,044 lower by 68 points. The index slipped below 18,000 to a low of 17,950 earlier.
Infosys, Asian Paints, HCL Tech, Wipro, Ultratech Cement, Sun Pharma, Kotak Bank, L&T, TCS, HDFC, HUL, Airtel were the top laggards of the Sensex-30 pack and were trading 0.7-2 per cent lower. On the Nifty, Tata Consumer, Adani Ports, HDFC LIfe, SBI Life and Shree Cement were the additonal losers.
"High volatility is in store for markets in the coming days. Globally inflation is becoming a worse-than-expected threat and this is reflected in the sharp spike in US 10-year yield. The consequent correction in US markets has also been sharp," said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
He added that the steep spike in crude is posing major threats to inflation, fiscal and current account balances back home.
"On the positive side, the Q3 results indicate a smart pick up in earnings. While, this strong fundamental can support the market, investors have to be cautious since at the current high valuations negative triggers can derail the rally", he said.
That apart, barring Nifty Metal and Oil & Gas index, rest of the sectoral indices were trading lower led by IT and healthcare, down 1.6 and 0.8 per cent, respectively.
Among stocks, the shares of Bajaj Finance hit a record high of Rs 8,043.50, up 4 per cent on the BSE after the NBFC reported a strong 85 per cent year-on-year (YoY) jump in consolidated net profit at Rs 2,125 crore in the October-December quarter (Q3 of FY22), beating Street estimates. READ MORE.
Opening Bell
LIVE market updates: The benchmark indices opened lower on Wednesday continuing their losses from the previous session. The BSE Sensex was down 235 points at 60,519, while the NSE Nifty was lower by 55 points at 18,058.
In the broader markets, the BSE MidCap and SmallCap indices were also down 0.7 per cent and 0.6 per cent, respectively.
Among the 30-sensex pack, Bajaj Finance, Tata Steel, M&M, Bajaj Finserv, RIL, Maruti, PowerGrid and Axis Bank were the major gainers, up between 0.3-2.8 per cent. Infosys, Wipro, IndusInd Bank, HCL Tech, Asian Paints, Tech M, HDFC, Kotak Bank and TCS were, meanwhile, the top losers, down between 0.5-1.4 per cent.
Sectorally, the Nifty IT and Realty index were the biggest losers, down 1 per cent each. Auto, energy and metals were in the green zone.
Among notable stocks, Bajaj Finance was the top gainer on the bourses, up over 3 per cent on strong Q3 numbers. The NBFC reported a sharp 85 per cent surge in consolidated net profit to Rs 2,125 crore in the October-December quarter, beating Street estimates.
Further, DCM Shriram was trading over 7 per cent higher on the BSE after the company reported 38 per cent rise in PAT at Rs 350 crores in the December quarter.
Pre-open session
LIVE market updates: The benchmark indices were seen holding marginal gains in pre-open trades. The BSE Sensex was up 70 points at 60,825, while the NSE Nifty was higher by 66 points at 18,179.
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LIVE market updates: Amid weak global cues, the key benchmark indices are likely to start trade on a mute note after they ended with significant losses the previous day. At 8:00 am, the SGX Nifty futures quoted 18,140 level, which is only 26 points up from Nifty's spot close on Tuesday.
High oil prices and sustained FII outflows are also seen to be weighing on investor sentiments.
Among individual stocks today, Bajaj Auto, L&T Infotech, Mastek, Ceat and Tata Communications are some of the major companies to announce December quarter results.
Bajaj Finance could see some action after the NBFC beat street estimates by reporting a 85 per cent YoY surge in consolidated net profit to Rs 2,125 crore for Q3FY22. Consolidated NII also jumped by 40 per cent to Rs 6,000 crore.
In the primary market, the IPO of AGS Transact Technologies will also open for subscription. This is the first IPO to open in the new year 2022.
Global cues
The US stocks fell sharply on Tuesday as yields continued its northbound journey. Earnings disappointment by Goldman Sachs also dampened the sentiment for financial shares. The Dow Jones dropped 1.5 per cent. The S&P 500 plunged 1.8 per cent, and Nasdaq tumbled 2.6 per cent.
Meanwhile, Oil prices soared to a 7-year high amid supply concerns on the back of tensions in the Middle-East and Russia. According to reports, OPEC+ sources indicated that prices can shoot up to $100 a barrel. On Tuesday, Brent Crude gained 1.2 per cent at $87.51 a barrel, and WTI Crude jumped 1.9 per cent to $85.43 a barrel.
However, the major markets in Asia were mixed in early deals on Wednesday. Japan’s Nikkei had dipped 1.8 per cent, Taiwan was down 0.3 per cent and Shanghai Composite had slipped 0.1 per cent. Whereas, Hang Seng, Straits Times and Kospi were up 0.1-0.2 per cent each.
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