Share Market Updates: Sensex falls 554 pts, Nifty ends at 18,113; Maruti slips 4%

The Indian market ended lower today amid mixed global cues. Sensex closed 554 points lower at 60,754 and Nifty fell 195 points to 18,113. Maruti, UltraTech Cement, Tech Mahindra and HCL Tech were the top  Sensex losers, falling up to 4.05%.

Axis Bank, HDFC Bank, ICICI Bank, AND Kotak Bank were the top Sensex gainers, rising up to 1.83% today.

On Monday, Indian market ended marginally higher amid mixed global cues. Sensex closed 85 points higher at 61,308 and Nifty gained 52 points to 18,308.

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

3: 30 pm: The Indian market ended lower today amid mixed global cues. Sensex closed 554 points lower at 60,754 and Nifty fell 195 points to 18,113. Maruti, UltraTech Cement, Tech Mahindra and HCL Tech were the top  Sensex losers, falling up to 4.05%.

2: 55 pm: AGS Transact Tech IPO to open on Jan 19

Payments solutions provider AGS Transact Technologies will kickstart the initial public offer  (IPO) season of 2022 on January 19. The firm has fixed a price band of Rs 166-175 for the IPO. The issue will close on January 21. The company is expected to list on exchanges on February 1.

The IPO size has been cut to Rs 680 crore from Rs 800 crore. The issue will be entirely be an offer for sale wherein promoter Ravi B Goyal will offload shares worth up to Rs 677.58 crore. The allotment of shares is likely to be done on January 27, 2022.

2:10 pm: Third wave could take 200 bps off HFC asset growth, says Crisil

The third wave of the Covid-19 pandemic could slash as much as 200 basis points (bps) off CRISIL Ratings' base case estimate of 9-11% compound annual growth rate (CAGR) in the assets under management (AUM) of housing finance companies (HFCs) for fiscals 2022 and 2023.

2: 00 pm: Market cap of BSE-listed firms falls to Rs 279.04 lakh crore. Market breadth is negative with 1,536 shares rising against 1,831 stocks falling on BSE.

1: 30 pm: Jyoti Roy, DVP- Equity Strategist at Angel One said, "We expect that the Union Budget will focus on targeted spending while maintaining fiscal discipline. We expect the fiscal deficit for FY23 to be well below the budget estimate of 6.8% for FY2022 due to better than expected tax collections. We expect that the government will continue its focus on providing support to the rural economy and manufacturing sector through increased spending and PLI schemes."

12: 50 pm : FM Nirmala Sitharaman to address press conference at 4:30 pm today.

12: 35 pm: Budget Expectations

Sunil Nyati, Managing Director of Swastika Investmart said, "The market wants a Budget that should be reformist and pro-growth where last year's Budget headed in the right direction, therefore, we need further momentum to reforms and growth in the upcoming Budget."

11:55 am: Market Check

Equity benchmark Sensex declined over 130 points, tracking losses in Maruti Suzuki, Tech Mahindra and UltraTech Cement. Likewise, the Nifty was trading over 50 points down to 18,254.

Axis Bank and BPCL were the top gainers on NSE. Eicher Motors and Maruti Suzuki were trading 3 per cent lower each.

11:15 am: Rupee falls 18 paise

At the interbank foreign exchange, the rupee opened weak at 74.36 against the U.S. dollar, then fell further to 74.43 against the greenback in early deals, registering a decline of 18 paise from the last close.

The rupee declined by 18 paise to 74.43 against the U.S. dollar in opening trade on January 18, as strong American currency and elevated crude oil prices weighed on investor sentiments.

Forex traders said muted domestic equities and dollar buying by banks on behalf of importers also dragged the local unit down.

11:00 am: Axis Bank shares gain 2%

Shares of Axis Bank were trading 2 per cent higher after the bank said that it has emerged as the frontrunner to buy Citi's consumer business in India, which is being valued at around $1.5 billion in a planned deal that's likely to happen this month, according to two sources with direct knowledge of the matter. 

Another Indian lender, Kotak Mahindra Bank is still in the race but has submitted a lower bid than Axis Bank so ranks second in Citi's order of preference, the sources told Reuters.

10:30 am: Angel One shares zoom 4%

Shares of Angel One Limited were trading 4 per cent higher at Rs 1,416 on BSE. The brokerage reported profit at Rs 164.54 crore in Q3FY22 against Rs 73.16 crore in Q3FY21. Revenue rose to Rs 597.3 crore from Rs 306.79 crore on a YoY basis.

10:00 am: Sensex down over 140 points

The benchmark indices were trading lower in the early trade today. Sensex declined 144 points to 61,164.69 and Nifty was trading 44 points lower at 18,263.

9:45 am: HFCL shares tank 9%

Shares of HFCL Limited tanked 8.6 per cent to hit an intraday low of Rs 88.10 on the Bombay Stock Exchange (BSE) after the company announced its earnings for the quarter ended December 2021.

The domestic telecom gear maker posted 4.7 per cent decline in consolidated profit to Rs 81.1 crore for the third quarter ended December 31, 2021 mainly on account of hike in component prices, specially semiconductors. 

The company had posted a profit after tax of Rs 85.11 crore in the same period a year ago. Revenue declined 4.86 per cent during the quarter to Rs 1,215.21 crore compared to Rs 1,277.48 crore it posted in the same quarter of 2020-21. 

9:18 am: Market opening

Indian benchmark indices opened higher amid positive global cues. At 09:18 hours, the 30-share BSE index was trading 104 points higher at 61,413.6, and the broader NSE Nifty was up 37.5 points to 18,345.60.

Tech Mahindra was the top gainer in the Sensex pack, advancing over 1 per cent, followed by Titan, Bajaj Finance, TCS, Bajaj Finserv and Axis Bank.

Ultratech Cement and Maruti Suzuki were among the top Sensex losers.

9:10 am: Market at Pre-open

The benchmark indices were trading higher in the pre-open session. Sensex was trading 121.8 points higher at 61,430.77 and Nifty was up 29 points at 18,337.20.

8:55 am: Pre-market comment by Mohit Nigam, Head - PMS, Hem Securities

Benchmark Indices are expected to open flat as trends on SGX Nifty with a loss of 4 points indicate a cautious opening. Driven by positive global cues and buying interest in some Auto & Metal stocks, the market closed at three months high amid volatility on Monday, forming a bullish candle on the daily charts.

Asia-Pacific markets were trading mostly higher on Tuesday while US markets remained shut for a public holiday of Martin Luther King Jr Day. 

Global investors remained their attention on the prospect of US Interest rate hikes in the next few months. The market might be volatile as Bajaj Finance, L&T Technology Services, ICICI Securities, Den Networks, EKI Energy Services, Just Dial, Jyoti Structures, Network18 Media & Investments, Shakti Pumps (India), TV18 Broadcast and some others will release quarterly earnings on January 18.

On the technical front, the key resistance levels for Nifty50 are 18,340 followed by 18,380 and on the downside 18,250 followed by 18,190 can act as strong support. Key resistance and support levels for Bank Nifty are 38,500 and 38,140 respectively.

8:45 am: Global Markets

The US markets were closed for a public holiday. In Asia, Nikkei Weighted index was up 0.85 per cent and Hang Seng was trading 0.58 per cent higher. Shanghai Composite was up 0.93 per cent too.

8:40 am: FII and DII action

Foreign institutional investors (FIIs) sold shares worth Rs 855.47 crore on January 17, and domestic institutional investors (DIIs) offloaded shares worth Rs 115.31 crore, as per provisional data available on NSE.

8:35 am: Rupee fell 9 paise

Declining for the second straight session, the rupee on Monday fell 9 paise to close at 74.24 (provisional) against the U.S. dollar as muted domestic equities and elevated crude oil prices weighed on investor sentiments.

At the interbank foreign exchange market, the local currency opened at 74.18 against the American currency and witnessed an intra-day high of 74.16 and a low of 74.36 during the session.

8:30 am: SGX Nifty

The Indian equity market is likely to open on a flat note as SGX Nifty was down 4.65 points to 18,335.20 at 8:30 am.

Singapore Nifty (SGX Nifty) is the Indian Nifty index that is traded in the Singapore Stock Exchange and is considered to be the first indication of the opening of the Indian market.

8:15 am: Market on Monday

The Indian market ended marginally higher on Monday amid mixed global cues. Sensex closed 85 points higher at 61,308 and Nifty gained 52 points to 18,308.

UltraTech Cement, M&M, Maruti, Tata Steel, TCS and L&T were the top  Sensex gainers.

HCL Tech, HDFC Bank and Axis Bank were the top Sensex losers, falling up to 5.89% on BSE. BSE mid cap and small cap indices rose 58 points and 153 points, respectively.