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LIVE BLOG
Economic Times | 13 Jan, 2023 | 09:51AM IST
Share Market LIVE Updates: Sensex sheds 100 points, Nifty nears 17,800; RVNL jumps 3%, L&T Tech falls 4%
Sensex Today Live: Watch this space as we bring you LIVE updates of the day's proceedings from Dalal Street.
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PSU bank index rallies over 1%; check out the top gainers
Price as on 13 Jan, 2023 09:51 AM, Click on company names for their live prices.
There are significant near-term positives for equity markets. Globally, the decline in US inflation to 6.5% and the consequent decline in US 10-year bond yields by 10% to 3.46% are supportive of equity markets. The dollar index dipping below 103 is positive for emerging market equity. Therefore, the sustained selling by FIIs in India for the 15th trading session is likely to abate, going forward. Yesterday, FII selling ( Rs 1662 crores) was eclipsed by DII buying ( Rs 2127 crores). DIIs now have fundamental support coming from reduced CPI inflation ( 5.72% in December) and rising IIP numbers (7.1% in November). RBI can now afford to soften rate hikes.The emerging interest rate scenario is favourable for banks and NBFCs. The impressive Q3 results from IT majors will keep the IT segment resilient.
- Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
Kolte-Patil Developers Q3 sales volumes up 31% YoY
- Sales volumes up 31% YoY
- Sales at 7.16 billion rupees, up 28% YoY
- Collections at 4.35 billion rupees, up 3% YoY
- Realization at 63.39 billion rupees, down 2% YoY
- New launches contributed around 57% to pre-sales value for quarter
HCL Technologies on Thursday reported 19% year-on-year (YoY) growth in consolidated net profit to Rs 4.096 crore. The revenue for the quarter grew nearly 20% on year to Rs 26,700 crore.
Price as on 13 Jan, 2023 09:28 AM, Click on company names for their live prices.
Top movers in morning trade
Price as on 13 Jan, 2023 09:24 AM, Click on company names for their live prices.
Rupee opens at 81.2600 per U.S. dolla; previous close 81.5500
Opening Bell: Sensex sheds 100 points, Nifty nears 17,800; RVNL jumps 3%, L&T Tech falls 4%
Pre-open session: Sensex rises 80 points; Nifty above 17,865
Positive global cues coupled with moderating inflation levels in both India and the US, and better-than-expected earnings from tech major Infosys is pointing towards a firm opening for local markets. The US bond market too is signaling that the Federal Reserve could indeed be near the end of its rate-hiking campaign. The only negative catalyst which can haunt the market is FIIs relentless selling, as they have already sold to the tune of Rs. 14997 crores.
- Prashanth Tapse - Research Analyst, Senior VP (Research), Mehta Equities
Asian stocks cheer inflation's retreat
Asian stocks rose on Friday as investors cheered a slowdown in U.S. inflation, while the yen hit a seven-month high and Japanese bond yields broke above the central bank's target as markets challenged Tokyo's commitment to loose monetary policy.
Quarterly earnings today
18 companies will release earnings for the quarter ended December. Wipro, L&T Finance Holdings, Aditya Birla Money among the major ones.
SGX Nifty signals a positive start
Nifty futures on the Singapore Exchange traded 66.5 points, or 0.37 per cent, higher at 17,984.50, signaling that Dalal Street was headed for a positive start on Friday.
Tech View: Nifty forms bearish candles for 3 days in a row
Headline equity index Nifty formed a bearish candle with a longer shadow, indicating support-based buying on weekly F&O expiry day. The index has formed bearish candles for three consecutive days.
Tokyo stocks open lower on strong yen
Tokyo stocks opened lower Friday, as a stronger yen against the dollar weighed on market sentiment despite Wall Street gains following data that showed softening US inflation.The benchmark Nikkei 225 index was down 0.35 percent, or 93.13 points, at 26,356.69 in early trade, while the broader Topix index slipped 0.10 percent, or 2.00 points, to 1,906.18.
Wall Street ends up as data suggests inflation may be on downward trend
US stocks closed higher on Thursday, extending recent gains as data showing a fall in consumer prices in December bolstered expectations of less aggressive interest rate hikes from the Federal Reserve.
Oil heads for solid weekly gain on China demand hopes
Oil prices slipped in early trade on Friday but were on track for gains of more than 6% for the week on solid signs of demand growth in top crude oil importer China and expectations of less aggressive interest rate hikes in the United States.
Rupee gains 38 paise to close at 81.30 against US dollar
The rupee gained 38 paise to close at 81.30 against the US dollar on Thursday, tracking the overall weakness in the American currency.
Sensex, Nifty on Thursday
The BSE Sensex index ended 147 points or 0.25% lower at 59,958, while Nifty50 fell 37 points or 0.21% to settle at 17,858.
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