Markets at 11 AM
LIVE market updates: The key benchmark indices extended losses in morning deals in a volatile session. The BSE Sensex was now 523 points down at 57,079, while the NSE Nifty was at 17,051, lower by 162 points. The two benchmarks were down up to 0.9 per cent.
Private banking majors HDFC Bank and ICICI Bank were the top contibutors to the indice downmove. They were followed by IT majors--Infosys and TCS. Other counters that were also weighing on the benchmarks included L&T, HDFC, Kotak bank and SBI.
Further, post a tepid listing of edible oil major Adani Wilmar, what should investors do? READ HERE TO WHAT EXPERTS SAY.
This apart, the broader markets were significantly underperforming the benchmarks. The BSE MidCap index was down 1.2 per cent while the SmallCap index trading over 2 per cent lower.
Sectorally, all Nifty indices were in the red zone led by Nifty Realty, PSU banks, Private banks, Financials, IT and Metal.
In the primary market, the IPO of Vedant Fashions had been subscribed only 22 per cent so far on the last day, with the retail investor category receiving a subscription of 33 per cent.
Among stocks, shares of TVS Motor Company (TVCL) surged 8 per cent to Rs 685 on the BSE in Tuesday's intra-day trade after the company registered highest-ever operating earnings before interest tax and depreciation and amortization (Ebitda) of Rs 568 crore during December quarter (Q3FY22). READ MORE.
On the other hand, GlaxoSmithKline Pharmaceuticals was down 2 per cent on the BSE after company reported a 3.9 per cent YoY decline in consolidated net profit at Rs 150.35 crore in the third quarter ended December 31, 2021. Total income was up 2.5 per cent YoY at Rs 826.24 crore.
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Markets at 10 AM
LIVE market updates: Frontline indices were oscillating between gains and losses in early deals as mixed cues from global markets kept investment sentiment in check.
The S&P BSE Sensex was at 57,637 level, up 16 points or 0.03 per cent, at 10:02 AM. The NSE Nifty, on the other hand, was testing 17,200. It was down 2 points.
Bajaj Finserv, up over 2 per cent, was the top Sensex gainer, followed by Bajaj Finance, Bharti Airtel, Asian Paints, Wipro, and Dr Reddy's Labs.
On the downside, Power Grid, SBI, NTPC, TCS, and Infosys slipped up to 1.4 per cent and capped upside.
The broader markets were, however, underperforming and were down up to 0.5 per cent.
Sectorally, the Nifty Pharma index was the top gainer, up 0.6 per cent. The Nifty PSB index was worst hit, down over 1 per cent.
NEW LISTING
Shares of Adani Wilmar debuted on the bourses on a tepid note, listing at Rs 221 on the BSE, as against the issue price of Rs 230. It, however, rose to a high of Rs 248 soon after debut.
FOREX MARKET
Rupee opened higher at 74.61 per US dollar vs Friday's close of 74.70/$.
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Opening Bell
The top Sensex gainers were Maruti, Titan, Tata Steel, Dr Reddy's, Bajaj Finserv, Reliance, Wipro, Sun Pharma and Bharti Airtel, trading up to 2 per cent higher. Hindalco, Eicher Motors, JSW Steel and Cipla were the additonal gainers on the Nifty.
On the flip side, PowerGrid, SBI, NTPC, HDFC, L&T, IndusInd Bank, TCS, Nestle, Infosys, Tata Consumer, and Britannia were the top losers.
Sectorally, the Nifty Auto, Metal and Pharma indices were the top gainers, trading up to 0.7 per cent higher. On the downside, Nifty PSU Bank and Nifty Bank indices were the losers.
Among stocks, PolicyBazaar parent PB Fintech was trading 2.6 per cent lower after the company posted yoy revenue growth of 73 per cent to Rs 367 crore in the quarter ended December 2021. Investors, however, seem unimpressed with its performace.
On the flip side, TVS Motor was up 3 per cent on the BSE after the two-wheeler maker posted a 9 per cent YoY rise in net profit for Q3FY22 at Rs 288 crore when compared with Rs 266 crore in the corresponding quarter of FY21. The company also reported a highest-ever operating revenue of Rs 5,706 crore in the third quarter of FY22.
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LIVE market updates: The key benchmark indices are expected to open on a quiet note on Tuesday as per trends indicated by the SGX Nifty futures, which were quoting 17,238 levels, around 20 points up from Nifty's spot close.
Investors may choose to be in wait and watch mode ahead of the RBI MPC meet that is slated to begin today.
In the market, Adani Wilmar is set to make its public debut. The issue had garnered 17.4x subscriptions, and the GMP (Grey Market Premium) indicates a likely 10 per cent listing gain for the stock.
Among individual shares, Bata India, Bharti Airtel, Escorts, Gujarat Gas, Indraprastha Gas, IRCTC, Jindal Steel, Godrej Consumer products and TTML are likely to be on investor radar ahead of their Q3 earnings. READ MORE.
In the primary market, the IPO of Vedant Fashions had been subscribed just 21 per cent on day 2. The offer ends for subscription today.
Global cues
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