The Indian equity market closed in the green for the third consecutive session today. Sensex ended 221 points higher at 60,616 and Nifty rose 52 points to 18,055. HCL Tech, HDFC and Tech Mahindra were the top Sensex gainers, rising up to 4.30%. Earlier, benchmark indices opened higher today amid mixed global cues. Sensex rose 154 points to 60,550 and Nifty gained 37 points to 18,040.
HCL Tech, HDFC and Sun Pharma were the top Sensex gainers, rising up to 4%.
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.
3:30 pm: Sensex closes 221 points higher at 60,616 and Nifty rose 52 points to 18,055. Of 30 Sensex stocks, 16 end in the red. HCL Tech, HDFC and Tech Mahindra were the top Sensex gainers, rising up to 4.30%.
3: 15 pm: Shriram Transport Finance Company raises $475 million
Shriram Transport Finance Company (STFC) a part of the Shriram Group, has successfully raised $475 million fixed rate senior secured 144A /Reg S Bond (available ECB limit for FY 22) for a 3.5-year tenure at an interest rate of 4.15%. This marks the seventh successful dollar bond issuance by the company since the relaxation in the ECB guidelines.
3:10 pm: Asian shares in the red
Asian shares mostly declined in cautious trading Tuesday following a retreat on Wall Street.
Japan’s benchmark Nikkei 225 fell 0.9% to finish at 28,222.48. South Korea’s Kospi picked up less than 1 point to 2,927.38. Australia’s S&P/ASX 200 dipped 0.8% to 7,390.10. Hong Kong’s Hang Seng shed 0.5% to 23,624.11, while the Shanghai Composite index sank 0.8% to 3,564.61.
In the US, the Dow Jones Industrial Average fell 0.5% to 36,068.87 and the tech-heavy Nasdaq eked out a gain of less than 0.1%, after having been down 2.7%, to end at 14,942.83.
3:05 pm: Gainers and losers
HCL Tech, HDFC, TCS were the top Sensex gainers, rising up to 4.05%.Tata Steel, Bajaj Finance and ITC were the top Sensex losers, falling up to 3.42%.
2: 55 pm: Market update
Sensex trading 150 points higher at 60,545 and Nifty gained 32 points to 18,036 in afternoon session.
2: 30 pm: Paytm share falls over 3%
Paytm share extends losses a day after global brokerage Macquarie slashed the target price by 25%. Macquarie Securities India suggested that the firm's future earnings growth may be worse than it had earlier forecast. The stock touched an intraday low of Rs 1,153.9 , down 6.33% in the previous session.
One 97 Communications stock further fell 3.19% intra day to Rs 1,121 on BSE in today's session.
1: 50 pm: YES Securities expects Nifty to hit 32,000 by 2025
YES Securities expects Nifty to hit 21,000 by 2022 and 32,000 in 2025. With abundant liquidity to keep equities in the reckoning and growing institutional participation in the Indian markets, India is expected to continue gaining share in the emerging markets basket, the brokerage said.
1: 30 pm: Marksans Pharma receives final US FDA nod for Cetirizine Hydrochloride tablets
Marksans Pharma shares rise 4% to Rs 64.05 after the firm gets nod for tablets used to treat allergic conditions. The stock trades higher than 5 day, 20 day and 50 day moving averages but lower than 100 day and 200 day moving averages.
2: 55 pm: Cerebra Technologies stock rises 4% after Barclays Securities buys 6.13 lakh shares
Cerebra Integrated Technologies stock touched an intraday high of Rs 96.35, rising 4.16% on BSE.
Barclays Securities India has bought 6,13,441 equity shares or 0.5% stake in Cerebra Integrated Technologies at Rs 92.5 per share on NSE, show bulk deals data on NSE .
12:30 pm: Coffee Day share rises 20%
Coffee Day Stock touched an intraday high of Rs 51.65, rising 19.98% on BSE. The stock opened with a gain of 3.37% at Rs 44.50 against the previous close of Rs Rs 43.05.
12: 10 pm: Larsen & Toubro share trading flat at Rs 1,960 on BSE. L&T Infotech has joined hands with Securonix & Snowflake for cybersecurity offerings.
12: 05 pm: Greaves Cotton shares hit all-time high
Greaves Cotton stock rises 13.09% to an all-time high of Rs 236.7 on BSE. The stock has gained 51.46% in the last five days.
12: 00 pm: Expert quote on Vodafone Idea
Tony Verghese, Partner, J Sagar Associates (JSA) said, "The move of conversion to equity, of its debts relating to interest due on spectrum in favour of the Government, by Vodafone Idea is indeed very surprising and unexpected. While the move will definitely keep the company afloat for some time, however, from an overall sustainability perspective of business and expansion, with the current shareholders, the promoter Vodafone plc. and the other significant shareholder Aditya Birla Group now becoming lesser stakeholders in the company, it remains to see how this will improve. It is unlikely that the business will sustain a long period, unless the Government comes out with a definitive plan of reviving the business of Vodafone Idea in consultation with the existing shareholders.
Whether the Government may contemplate a move of combining the businesses of Vodafone Idea with BSNL, such as a merger and thereafter looking for a purchaser, is something that remains to be seen, given that the BSNL auctions have hit several roadblocks over the last few years."
11: 45 am: HCL Tech, HDFC and Sun Pharma are the top Sensex gainers, rising up to 4%.
11:30 am: Market update
Sensex, Nifty enter green territory again
Sensex trading 211 points higher at 60,607 and Nifty gains 48 points to 18,051.
11: 00 am: Blackstone exits Mindspace Business Parks REIT; sells stake for Rs 1,740 crore.
10: 45 am: Rupee gains 13 paise to 73.92 against US dollar in early trade.
10: 25 am: Vodafone Idea stock falls 19% in early trade
Vodafone Idea share crashed 19% today amid reports that the government will become the single-largest shareholder of the company with a 35.8 per cent stake.
Vodafone Idea stock opened with a loss of 9.76% at Rs 13.40 against the previous close of Rs 14.85 on BSE.
The share touched an intraday low of Rs 12.05, falling 18.86% on BSE.
10:00 am: Sensex, Nifty erase gains
Sensex fell 8 points to 60,387 and Nifty lost 17 points to 17,992. HCL Tech, NTPC and HDFC were the top Sensex gainers, rising up to 2.22%. Tata Steel was the top Sensex loser, falling 2.42 per cent, followed by Bajaj Finance, Kotak Bank and ICICI Bank. Of the 30 Sensex shares, 15 were trading higher.
9: 40 am: Market outlook
Parth Nyati, Founder, Tradingo said, "Technically, Nifty managed to close above the psychological level of 18,000. However 18,100/18,200 are immediate resistance levels; above this, we can expect a swift move towards a new all-time high. On the downside, 17800 is immediate support while 17640/17500 are major support levels. Bank Nifty is outperforming where 38,300-38,500 is an immediate resistance zone. Above this, we can expect a rally towards 39500/40000 levels. On the downside, 38000-37750 is an immediate demand zone while 37300-37000 is the next support zone."
9:25 am:Top gainers
IndusInd Bank, HDFC, M&M and Sun Pharma are the top Sensex gainers, rising up to 1.04%.
9 20 am: Market opens higher
Sensex rises 154 points to 60,550 and Nifty gains 37 points to 18,040.
8:55 am: Expert comment
Mohit Nigam, Head - PMS, Hem Securities said, "Benchmark indices are expected to open on negative note as suggested by trends on SGX Nifty. Both European and US markets closed in red. Asian markets are also trading in red. India continues to witness exponential rise in new covid cases but the hope of stupendous earnings season along with positive sentiment regarding the forthcoming budget continues to drive the market in upward trajectory. Benchmark indices may face some resistance around 18150 and 18200 and can witness a minor corrective fall. Yesterday's AMFI data showed domestic mutual funds' contribution to Total Institutional equity Portfolio has risen to 17% showing increased engrossment of Indian households for Indian equity markets."
8: 40 am: Global markets
In Asia, Kospi was trading 7 points lower at 2,920. Nikkei fell 247 points to 28,231 and Hang Seng index was flat at 23,744. On Wall Street, the S&P 500 fell 6 points to 4,670. The Dow slipped 162 points to 36,068. The Nasdaq composite gained lost 7 points to 14,942.
8:10 am: FIIs in action
Foreign institutional investors (FIIs) sold shares worth Rs 124 crore on January 10, and domestic institutional investors (DIIs) bought shares worth Rs 481 crore, as per provisional data available on NSE.
8:00 am: Previous session updates
Benchmark indices closed higher for the second consecutive session on Monday as participants showed keen interest in IT and financial shares ahead of the Q3 earnings season.
Sensex closed 650.98 points higher at 60,395 and Nifty climbed 190.60 points to end at 18,003.30. Titan, Maruti, SBI, L&T, HDFC and Kotak Bank were the top Sensex gainers, rising up to 3.29%.
Wipro, Nestle India, Asian Paints and PowerGrid were among the top Sensex losers, falling up to 2.47%.
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