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Share Market Highlights: Sensex ends 746 points lower, Nifty at 14,371; Asian Paints, SBI, HDFC top losers

January 22,2021 16:00 IST

Sensex, Nifty Highlights on January 22: Market indices continued yesterday's fall and closed at day's low on Friday amid profit booking, in line with weak global equities. Sensex ended 746 points lower at 48,878 and Nifty closed 218 points lower at 14,371. HDFC, ONGC, ITC, L&T, RIL, NTPC were among the top losers today, while Bajaj Auto, Maruti, M&M, TCS, HUL were among the top gainers on Sensex pack. Yesterday, Sensex closed 167 points lower at 49,624, Nifty fell 54 points to end at 14,590. Globally, markets traded deep in red today, signalling profit booking amid heavy valuations, given ample liquidity, high earnings growth and positive geopolitical cues.

 

 

 

 

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

 

 

 

Check Latest Updates

KEY UPDATES

  • India Stock Market News Updates Today: Globally, markets traded deep in red today, signalling profit booking amid heavy valuations, given ample liquidity, high earnings growth and positive geopolitical cues
  • Jan 22, 2021 16:00 (IST)

    Market closing session on Friday

    Market indices continued yesterday's fall and closed at day's low on Friday amid profit booking, in line with weak global equities. Sensex ended 746 points lower at 48,878 and Nifty closed 218 points lower at 14,371.

  • 16:00 IST: Market indices continued yesterday's fall and closed at day's low on Friday amid profit booking, in line with weak global equities. Sensex ended 746 points lower at 48,878 and Nifty closed 218 points lower at 14,371.

  • Jan 22, 2021 15:55 (IST)

    Stove Kraft IPO priced at Rs 384-385 opens next week




    The fourth public issue of the calendar year 2021, Stove Kraft initial public offer (IPO) is set to open for subscription on Monday, January 25, at the price band of Rs 384-385 apiece.


    The Rs 412.62 crore IPO, that closes on January 28, 2021, comprises fresh issue of shares worth Rs 95 crore and an offer-for-sale (OFS) of up to 82.50 lakh equity shares. The anchor investors portion will open for subscription today, January 22, 2021.


    Currently, company promoters Rajendra Gandhi and Sunita Rajendra Gandhi hold 1,84,43,919 equity shares, representing 61.31% of the pre-offer paid-up equity capital.

  • 15:55 IST:


    The fourth public issue of the calendar year 2021, Stove Kraft initial public offer (IPO) is set to open for subscription on Monday, January 25, at the price band of Rs 384-385 apiece.


    The Rs 412.62 crore IPO, that closes on January 28, 2021, comprises fresh issue of shares worth Rs 95 crore and an offer-for-sale (OFS) of up to 82.50 lakh equity shares. The anchor investors portion will open for subscription today, January 22, 2021.


    Currently, company promoters Rajendra Gandhi and Sunita Rajendra Gandhi hold 1,84,43,919 equity shares, representing 61.31% of the pre-offer paid-up equity capital.

  • Jan 22, 2021 15:42 (IST)

    Market outlook at close


    Rusmik Oza, Executive Vice President, Head of Fundamental Research at Kotak Securities said,"The incessant rally in BSE-30 Index paused this week with both BSE Sensex and Nifty-50 ending nearly flat. We are seeing some kind of profit booking at higher levels as the Sensex touched the psychological mark of 50,000 this week. The persisting rise in cases has intensified restrictions in parts of Europe, UK and Hong Kong which is impacting global markets. In sectors this week only auto sector has seen gains with the BSE Auto Index going up by 2.4%.

    He added," Bajaj Auto and Tata Motors are the biggest gainers in Nifty-50 this week with up move of 14% and 11%, respectively. Reliance has seen gains of 6% this week. PSU and metal stocks have been the biggest losers this week. Amongst PSUs, ONGC and Coal India are down 8.6% and 7%, respectively. Profit booking has led to correction in Tata Steel (-8.5%) and Hindalco (-5.8%). The NSE Vix Index has moved up slightly ahead of the Union Budget and is placed at 22.4 as compared to 20 in the previous two weeks. FII flows have been decent at ~Rs.6,900 cr in the first four days of this week while DII selling has seem some moderation with selling of Rs.2145 in the same period."

    He later said," We can expect volatility to remain high next week also as there will be the monthly expiry and it will be the last week before the Union Budget. Earnings print is coming good and we are seeing more upgrades than downgrades. Nifty-50 could remain in the 14,000-15,000 range till budget and any break-out or break-down from this range could be seen post budget."

  • 15:42 IST:
    Rusmik Oza, Executive Vice President, Head of Fundamental Research at Kotak Securities said,"The incessant rally in BSE-30 Index paused this week with both BSE Sensex and Nifty-50 ending nearly flat. We are seeing some kind of profit booking at higher levels as the Sensex touched the psychological mark of 50,000 this week. The persisting rise in cases has intensified restrictions in parts of Europe, UK and Hong Kong which is impacting global markets. In sectors this week only auto sector has seen gains with the BSE Auto Index going up by 2.4%.

    He added," Bajaj Auto and Tata Motors are the biggest gainers in Nifty-50 this week with up move of 14% and 11%, respectively. Reliance has seen gains of 6% this week. PSU and metal stocks have been the biggest losers this week. Amongst PSUs, ONGC and Coal India are down 8.6% and 7%, respectively. Profit booking has led to correction in Tata Steel (-8.5%) and Hindalco (-5.8%). The NSE Vix Index has moved up slightly ahead of the Union Budget and is placed at 22.4 as compared to 20 in the previous two weeks. FII flows have been decent at ~Rs.6,900 cr in the first four days of this week while DII selling has seem some moderation with selling of Rs.2145 in the same period."

    He later said," We can expect volatility to remain high next week also as there will be the monthly expiry and it will be the last week before the Union Budget. Earnings print is coming good and we are seeing more upgrades than downgrades. Nifty-50 could remain in the 14,000-15,000 range till budget and any break-out or break-down from this range could be seen post budget."

  • Jan 22, 2021 15:34 (IST)

    Budget 2021: Here's how to play the market in short term

    Benchmark Sensex hit the key 50,000 mark on January 21 just days ahead of the Modi government's third Union Budget of its second term.  The index rose to an all-time high of 50,184 and Nifty rose to 14,753 in the same session buoyed by global markets post the new US president Joe Biden's oath taking ceremony.

    Hopes of additional stimulus from the new US administration for the Covid-19-hit economy took US markets to record highs on January 21.

    The Union Budget which will be presented on February 1 is likely to decide the direction of the market ahead. Currently, Sensex has lost 1,045 points from its all time high on profit-booking and weak Asian markets today after a resurgence of coronavirus infections in China and a rise in cases in Southeast Asia.

    Budget 2021: Sensex scales 50,000 mark, here's how to play the market in short term

  • 15:34 IST: Benchmark Sensex hit the key 50,000 mark on January 21 just days ahead of the Modi government's third Union Budget of its second term.  The index rose to an all-time high of 50,184 and Nifty rose to 14,753 in the same session buoyed by global markets post the new US president Joe Biden's oath taking ceremony.

    Hopes of additional stimulus from the new US administration for the Covid-19-hit economy took US markets to record highs on January 21.

    The Union Budget which will be presented on February 1 is likely to decide the direction of the market ahead. Currently, Sensex has lost 1,045 points from its all time high on profit-booking and weak Asian markets today after a resurgence of coronavirus infections in China and a rise in cases in Southeast Asia.

    Budget 2021: Sensex scales 50,000 mark, here's how to play the market in short term

  • Jan 22, 2021 15:20 (IST)

    Bajaj Auto share hits all-time high



    Bajaj Auto share hit all time high in early trade today after the firm reported a 23% year-on-year rise in Q3 net profit. Bajaj Auto stock gained 9.76% to Rs 4,068.55 against previous close of Rs 3,706.60 on BSE.

    The stock has gained 9.31% in the last 2 days. The stock opened with a gain of 2.17% at Rs 3,787.

    Bajaj Auto share is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages. The share has risen 30.4% in one year and gained 16.41% since the beginning of this year. In a month, the stock is up 22.74%.

    Bajaj Auto share hits all-time high on record rise in Q3 profit

  • 15:20 IST:

    Bajaj Auto share hit all time high in early trade today after the firm reported a 23% year-on-year rise in Q3 net profit. Bajaj Auto stock gained 9.76% to Rs 4,068.55 against previous close of Rs 3,706.60 on BSE.

    The stock has gained 9.31% in the last 2 days. The stock opened with a gain of 2.17% at Rs 3,787.

    Bajaj Auto share is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages. The share has risen 30.4% in one year and gained 16.41% since the beginning of this year. In a month, the stock is up 22.74%.

    Bajaj Auto share hits all-time high on record rise in Q3 profit

  • Jan 22, 2021 15:19 (IST)

    SBI Cards share hits all-time high



    Share of SBI Cards & Payments, the credit card arm of the country's largest bank, the State Bank of India (SBI), touched an all-time high Rs 1,026 on Friday after the company received Rs 450 crore from its parent.

    The second-largest card issuer in the country after HDFC Bank got the fund at an attractive fixed interest rate of 6.0 per cent per annum for 5 years.

     Stock of SBI Cards & Payments opened with a gain of 2.74% at Rs 1,006 and touched day's high of Rs 1,026 in the early session, rising 4.78%. The stock also touched day's low of Rs 979 against the last close of Rs 979.15.

    SBI Cards stock is trading higher than 5, 20, 50, 100 and 200-day moving averages.

    The stock has risen 6% in one week and 23% in a month.
     

  • 15:19 IST:

    Share of SBI Cards & Payments, the credit card arm of the country's largest bank, the State Bank of India (SBI), touched an all-time high Rs 1,026 on Friday after the company received Rs 450 crore from its parent.

    The second-largest card issuer in the country after HDFC Bank got the fund at an attractive fixed interest rate of 6.0 per cent per annum for 5 years.

     Stock of SBI Cards & Payments opened with a gain of 2.74% at Rs 1,006 and touched day's high of Rs 1,026 in the early session, rising 4.78%. The stock also touched day's low of Rs 979 against the last close of Rs 979.15.

    SBI Cards stock is trading higher than 5, 20, 50, 100 and 200-day moving averages.

    The stock has risen 6% in one week and 23% in a month.
     

  • Jan 22, 2021 14:44 (IST)

    Federal Bank outlook



    Centrum Broking said in its report today," We raise our FY21E PAT by 19% led by NIM increase (to 3.2% from 3.0%) and higher fee income due to outperformance over the last 3 quarters. As some stress recognition could shift to FY22E, our provisions rise by 4.5%. We like FB owing to lower stress and attractive valuations. Roll forward to FY23E ABV, maintaining a BUY with multiple at 1.2x. Valuation at 0.9x FY23E ABV is attractive. Raise TP to Rs100. Risks: higher stress."

  • 14:44 IST:

    Centrum Broking said in its report today," We raise our FY21E PAT by 19% led by NIM increase (to 3.2% from 3.0%) and higher fee income due to outperformance over the last 3 quarters. As some stress recognition could shift to FY22E, our provisions rise by 4.5%. We like FB owing to lower stress and attractive valuations. Roll forward to FY23E ABV, maintaining a BUY with multiple at 1.2x. Valuation at 0.9x FY23E ABV is attractive. Raise TP to Rs100. Risks: higher stress."

  • Jan 22, 2021 14:31 (IST)

    Bajaj holding outlook



    Yash Gupta Equity Research Associate, Angel Broking said," Bajaj holding reported better than expected results as Bajaj auto reported highest ever revenue in Q3FY21. Bajaj holding limited total income for Q3FY21 stood at Rs 113.6 crores up by 17% YoY from Rs 97.43 crores in Q3FY20.
     

    Share of profits of associates and joint ventures for Q3FY21 stood at Rs 1097 crores up by 22% YoY from Rs900 Crores in Q3FY20. Company reports profit from associates and joint venture as bajaj holding is a holding company of bajaj auto, bajaj finserv and Maharashtra scooters. Profit before tax for the quarter up by 23.2% at Rs1175 crores in Q3FY21 as compared to Rs954 crores in Q3FY20. Profit after tax for the quarter up by 23.3% at Rs1149 crores in Q3FY21 as compared to Rs932 crores in Q3FY20. Bajaj holding reported better than expected profit after tax on back of exceptional number reported from bajaj auto."


     

  • 14:31 IST:

    Yash Gupta Equity Research Associate, Angel Broking said," Bajaj holding reported better than expected results as Bajaj auto reported highest ever revenue in Q3FY21. Bajaj holding limited total income for Q3FY21 stood at Rs 113.6 crores up by 17% YoY from Rs 97.43 crores in Q3FY20.
     

    Share of profits of associates and joint ventures for Q3FY21 stood at Rs 1097 crores up by 22% YoY from Rs900 Crores in Q3FY20. Company reports profit from associates and joint venture as bajaj holding is a holding company of bajaj auto, bajaj finserv and Maharashtra scooters. Profit before tax for the quarter up by 23.2% at Rs1175 crores in Q3FY21 as compared to Rs954 crores in Q3FY20. Profit after tax for the quarter up by 23.3% at Rs1149 crores in Q3FY21 as compared to Rs932 crores in Q3FY20. Bajaj holding reported better than expected profit after tax on back of exceptional number reported from bajaj auto."


     

  • Jan 22, 2021 14:11 (IST)

    JK Tyre outlook



    Yash Gupta Equity Research Associate, Angel Broking said," JK Tyre reported a very good set of numbers in Q3FY21. JK Tyre & Industries total revenue from operations for Q3FY21 stood at Rs1850 crores up by 18% YoY from Rs 1567 crores in Q3FY20. Operating profit for Q3FY21 stood at ?312.2 crores up by 84% as compared to Rs170 crores in Q3FY20. Profit before tax for the quarter up by 587% at Rs196 crores in Q3FY21 as compared to Rs28.54 crores in Q3FY20. Profit after tax for the quarter up by 459% at Rs125.25 crores in Q3FY21 as compared to Rs22.4 crores in Q3FY20. Company has reported exceptional results and complete recovery seen in Q3FY21 after the hit in H1FY21 due to Covid. These results are above consensus estimates. We also need to keep in mind that the base quarter performance was not good for the company and some effect of pent up demand also. We have a positive outlook for the company."

  • 14:11 IST:

    Yash Gupta Equity Research Associate, Angel Broking said," JK Tyre reported a very good set of numbers in Q3FY21. JK Tyre & Industries total revenue from operations for Q3FY21 stood at Rs1850 crores up by 18% YoY from Rs 1567 crores in Q3FY20. Operating profit for Q3FY21 stood at ?312.2 crores up by 84% as compared to Rs170 crores in Q3FY20. Profit before tax for the quarter up by 587% at Rs196 crores in Q3FY21 as compared to Rs28.54 crores in Q3FY20. Profit after tax for the quarter up by 459% at Rs125.25 crores in Q3FY21 as compared to Rs22.4 crores in Q3FY20. Company has reported exceptional results and complete recovery seen in Q3FY21 after the hit in H1FY21 due to Covid. These results are above consensus estimates. We also need to keep in mind that the base quarter performance was not good for the company and some effect of pent up demand also. We have a positive outlook for the company."

  • Jan 22, 2021 13:50 (IST)

    VST Industries outlook



    Centrum Broking said in its report today," VST Industries Q3FY21 results were below our estimates, revenue declined 16.5% to Rs.2.9bn (4% lower QoQ), driven by mix improvement led by 'Total' which now forms 45%+ revenues according to the management. Further, gross margin expanded 680bps to 54.9% led by cut in trade discounts and cigarette price increases (10-11%). EBITDA margin expanded to 34.8% (+337bps) YoY driven by tight cost control on operational expenses. Nevertheless, management sounded challenging market conditions, given restricted mobility and lower out-of-home consumption. We believe strong tailwinds for DSFT segment will help VST to gain market share. Moreover, 4% dividend yield to provides support to the stock. We maintain our earnings estimates and Buy rating with DCF-based Target Price of Rs4,046, implying 17.6x FY23E EPS. Risks to our call include sharp increase in any form of taxation and disruption in supply chain due to lockdowns."

     

  • 13:50 IST:

    Centrum Broking said in its report today," VST Industries Q3FY21 results were below our estimates, revenue declined 16.5% to Rs.2.9bn (4% lower QoQ), driven by mix improvement led by 'Total' which now forms 45%+ revenues according to the management. Further, gross margin expanded 680bps to 54.9% led by cut in trade discounts and cigarette price increases (10-11%). EBITDA margin expanded to 34.8% (+337bps) YoY driven by tight cost control on operational expenses. Nevertheless, management sounded challenging market conditions, given restricted mobility and lower out-of-home consumption. We believe strong tailwinds for DSFT segment will help VST to gain market share. Moreover, 4% dividend yield to provides support to the stock. We maintain our earnings estimates and Buy rating with DCF-based Target Price of Rs4,046, implying 17.6x FY23E EPS. Risks to our call include sharp increase in any form of taxation and disruption in supply chain due to lockdowns."

     

  • Jan 22, 2021 13:46 (IST)

    Indices further decline

    Market indices continued yesterday's fall and traded 1.3% lower on Friday on profit booking, amid mixed global equities. Sensex was trading 678 points lower at 48,947 and Nifty was down 200 points lower at 14,390.

  • 13:46 IST: Market indices continued yesterday's fall and traded 1.3% lower on Friday on profit booking, amid mixed global equities. Sensex was trading 678 points lower at 48,947 and Nifty was down 200 points lower at 14,390.

  • Jan 22, 2021 13:43 (IST)

    VST Industries outlook




    Centrum Broking said in its report today," VST Industries Q3FY21 results were below our estimates, revenue declined 16.5% to Rs.2.9bn (4% lower QoQ), driven by mix improvement led by 'Total' which now forms 45%+ revenues according to the management. Further, gross margin expanded 680bps to 54.9% led by cut in trade discounts and cigarette price increases (10-11%). EBITDA margin expanded to 34.8% (+337bps) YoY driven by tight cost control on operational expenses. Nevertheless, management sounded challenging market conditions, given restricted mobility and lower out-of-home consumption. We believe strong tailwinds for DSFT segment will help VST to gain market share. Moreover, 4% dividend yield to provides support to the stock. We maintain our earnings estimates and Buy rating with DCF-based Target Price of Rs4,046, implying 17.6x FY23E EPS. Risks to our call include sharp increase in any form of taxation and disruption in supply chain due to lockdowns."

     

  • 13:43 IST:


    Centrum Broking said in its report today," VST Industries Q3FY21 results were below our estimates, revenue declined 16.5% to Rs.2.9bn (4% lower QoQ), driven by mix improvement led by 'Total' which now forms 45%+ revenues according to the management. Further, gross margin expanded 680bps to 54.9% led by cut in trade discounts and cigarette price increases (10-11%). EBITDA margin expanded to 34.8% (+337bps) YoY driven by tight cost control on operational expenses. Nevertheless, management sounded challenging market conditions, given restricted mobility and lower out-of-home consumption. We believe strong tailwinds for DSFT segment will help VST to gain market share. Moreover, 4% dividend yield to provides support to the stock. We maintain our earnings estimates and Buy rating with DCF-based Target Price of Rs4,046, implying 17.6x FY23E EPS. Risks to our call include sharp increase in any form of taxation and disruption in supply chain due to lockdowns."

     

  • Jan 22, 2021 13:31 (IST)

    Mid Market quote



    Likhita Chepa, Senior Research Analyst at CapitalVia Global Research Limited- Investment Advisor said,"Market opened cautiously on a flatter note at 14583.40 after the correction in the market yesterday. US markets still closed on record high due to the optimism about more relief packages to support the small businesses and economy. Nifty near day’s low. Auto sectors are trading positive as the results are expected to be positive for the sector backed by a tremendous increase in sales number in the quarter. Bajaj Auto, Hero MotoCorp, Eicher Motors, Tata Motors and HUL were among top gainers on the Nifty. The major stocks like Reliance, HDFC life insurance and SBI life insurance are expected to declare their quarterly results and volatility can be expected among the shares. Foreign institutional investors (FIIs) net bought shares worth Rs 1,614.66 crore showing the confidence in the economic recovery.

  • 13:31 IST:

    Likhita Chepa, Senior Research Analyst at CapitalVia Global Research Limited- Investment Advisor said,"Market opened cautiously on a flatter note at 14583.40 after the correction in the market yesterday. US markets still closed on record high due to the optimism about more relief packages to support the small businesses and economy. Nifty near day’s low. Auto sectors are trading positive as the results are expected to be positive for the sector backed by a tremendous increase in sales number in the quarter. Bajaj Auto, Hero MotoCorp, Eicher Motors, Tata Motors and HUL were among top gainers on the Nifty. The major stocks like Reliance, HDFC life insurance and SBI life insurance are expected to declare their quarterly results and volatility can be expected among the shares. Foreign institutional investors (FIIs) net bought shares worth Rs 1,614.66 crore showing the confidence in the economic recovery.

  • Jan 22, 2021 13:23 (IST)

    Mid Day market outlook

    Yash Gupta Equity Research Associate, Angel Broking said," Market trembles, Nifty down by more than 100 points from days high of 16919.9. Auto and IT index leading the way ahead while bankex and metal are dragging nifty down.
    In auto, tyres stock trade higher after the extraordinary results from JK tyres and better than expected result from bajaj auto. We expect the market to be volatile till the budget. On upside 14700 will be a hurdle for nifty and 14300 on down side till this expires on 28th January 2021. We suggest Long Investors should be cautious on the market and can have some cash in their portfolio to buy on dips and  Intraday traders to trade with strict stop loss."


     

  • 13:23 IST: Yash Gupta Equity Research Associate, Angel Broking said," Market trembles, Nifty down by more than 100 points from days high of 16919.9. Auto and IT index leading the way ahead while bankex and metal are dragging nifty down.
    In auto, tyres stock trade higher after the extraordinary results from JK tyres and better than expected result from bajaj auto. We expect the market to be volatile till the budget. On upside 14700 will be a hurdle for nifty and 14300 on down side till this expires on 28th January 2021. We suggest Long Investors should be cautious on the market and can have some cash in their portfolio to buy on dips and  Intraday traders to trade with strict stop loss."


     

  • Jan 22, 2021 13:06 (IST)

    Gold prices today

    Anuj Gupta- DVP- Commodities and Currencies Research, Angel Broking said," Gold prices hit near two-week highs on Wednesday on stimulus plans anticipated from the Joe Biden 46th U.S. president. Gold is trading  0.12% higher at 49510 levels and Silver is trading 0.47% higher at 67291 levels. The hope on stimulus package in US economic by the US Govt. Weakness in Dollar also supportive the Gold and silver.

     

    As of now Traders can go for buy in Gold at 49400 levels with the stop loss of 49100  levels for the target of 49900 levels. They can also for buy in Silver at 67000 levels with the stop loss of 66400 levels for the target of 68500 levels. We are expecting that gold may test $1900 levels and Silver may test $27 levels again soon."

  • 13:06 IST: Anuj Gupta- DVP- Commodities and Currencies Research, Angel Broking said," Gold prices hit near two-week highs on Wednesday on stimulus plans anticipated from the Joe Biden 46th U.S. president. Gold is trading  0.12% higher at 49510 levels and Silver is trading 0.47% higher at 67291 levels. The hope on stimulus package in US economic by the US Govt. Weakness in Dollar also supportive the Gold and silver.

     

    As of now Traders can go for buy in Gold at 49400 levels with the stop loss of 49100  levels for the target of 49900 levels. They can also for buy in Silver at 67000 levels with the stop loss of 66400 levels for the target of 68500 levels. We are expecting that gold may test $1900 levels and Silver may test $27 levels again soon."

  • Jan 22, 2021 13:00 (IST)

    Market falls further

    Market indices continued yesterday's fall and traded 1% lower on Friday on profit booking, amid mixed global equities. Sensex was trading 520 points lower at 49,105 and Nifty was down 140 points lower at 14,440

  • 13:00 IST: Market indices continued yesterday's fall and traded 1% lower on Friday on profit booking, amid mixed global equities. Sensex was trading 520 points lower at 49,105 and Nifty was down 140 points lower at 14,440

  • Jan 22, 2021 12:55 (IST)

    YES Bank share falls 2% ahead of board meet




    Share of private lender YES Bank was trading 2% lower on Friday after two consecutive sessions of gains. The lender's board plans to consider fund-raising through various means, during its meeting on January 22. The bank is also set to announce its December quarter earnings on the same day.

    On January 18, the private lender said in its filing that, "Raising of funds by issue of equity shares, depository receipts, convertible bonds, debentures, warrants, any other equity-linked securities through permissible modes subject to necessary shareholders, regulatory approvals as applicable."
     
    The stock of YES Bank opened higher at Rs 17.35 and touched day's high of Rs 17.50 in early session. Later, the stock fell to the day's low of Rs 16.90, down 2% against the last close of Rs 17.25.

     

  • 12:55 IST:


    Share of private lender YES Bank was trading 2% lower on Friday after two consecutive sessions of gains. The lender's board plans to consider fund-raising through various means, during its meeting on January 22. The bank is also set to announce its December quarter earnings on the same day.

    On January 18, the private lender said in its filing that, "Raising of funds by issue of equity shares, depository receipts, convertible bonds, debentures, warrants, any other equity-linked securities through permissible modes subject to necessary shareholders, regulatory approvals as applicable."
     
    The stock of YES Bank opened higher at Rs 17.35 and touched day's high of Rs 17.50 in early session. Later, the stock fell to the day's low of Rs 16.90, down 2% against the last close of Rs 17.25.

     

  • Jan 22, 2021 12:47 (IST)

    Global markets today

    US markets closed off the record highs. Dow and S&P showed muted response but Nasdaq showed strength led by IT stocks ahead of major earnings next week. European markets closed mixed with major stocks pointing lower but IT stocks showing resilience. ECB kept rates unchanged but hints that its stands ready to act.

    Asian markets are trading slightly lower on the last trading day of the week taking cues from US.



     

  • 12:47 IST: US markets closed off the record highs. Dow and S&P showed muted response but Nasdaq showed strength led by IT stocks ahead of major earnings next week. European markets closed mixed with major stocks pointing lower but IT stocks showing resilience. ECB kept rates unchanged but hints that its stands ready to act.

    Asian markets are trading slightly lower on the last trading day of the week taking cues from US.



     

  • Jan 22, 2021 12:33 (IST)

    Bajaj Auto outlook and valuation




    LKP Securities said in its note,"Bajaj came out with strong set of numbers in Q3, thanks to its strength in the exports markets and domestic 2W recovery. The company reported strongest ever volumes, revenues and PAT in the quarter. Going forward, as the economy is opening up and unlocking itself, things will start to improve further. With intrinsic demand getting back almost to the pre-COVID level production/supply constraints have reduced. 2W demand in the domestic markets is expected to continue its uptrend with strong rural demand driven by good monsoons and pent up demand. On the low base of FY 21, we anticipate a strong FY 22E. With exports improvement expected to continue and high margin models to sell well in domestic markets, margins are expected to improve. 3W recovery is also expected shortly, which would support margins. With ultimate demand for personal mobility playing on, we expect Bajaj to get its advantage. With strong balance sheet, robust return ratios and zero financial leverage, we believe the stock looks attractive even at 17x FY 23E earnings. We maintain our BUY rating on the stock with an improved target price of Rs 4,142 (at 20x FY 23E earnings). The target price hike is on the basis of improved volume and margin outlook for FY 21E and FY 22E and roll over to FY 23E estimates."

  • 12:33 IST:


    LKP Securities said in its note,"Bajaj came out with strong set of numbers in Q3, thanks to its strength in the exports markets and domestic 2W recovery. The company reported strongest ever volumes, revenues and PAT in the quarter. Going forward, as the economy is opening up and unlocking itself, things will start to improve further. With intrinsic demand getting back almost to the pre-COVID level production/supply constraints have reduced. 2W demand in the domestic markets is expected to continue its uptrend with strong rural demand driven by good monsoons and pent up demand. On the low base of FY 21, we anticipate a strong FY 22E. With exports improvement expected to continue and high margin models to sell well in domestic markets, margins are expected to improve. 3W recovery is also expected shortly, which would support margins. With ultimate demand for personal mobility playing on, we expect Bajaj to get its advantage. With strong balance sheet, robust return ratios and zero financial leverage, we believe the stock looks attractive even at 17x FY 23E earnings. We maintain our BUY rating on the stock with an improved target price of Rs 4,142 (at 20x FY 23E earnings). The target price hike is on the basis of improved volume and margin outlook for FY 21E and FY 22E and roll over to FY 23E estimates."

  • Jan 22, 2021 12:28 (IST)

    Real Estate Sector and Budget Expectations



    Prasoon Chauhan, Founder & CEO, BlackOpal said, "The second largest employing sector of India, real estate needs support from government to resolve the liquidity issues at the earliest. One of the recent aid extended to the sector has been in the form of a Rs 25,000 crore AIF set up for stalled projects. While the motive behind providing this aid has been to fasten the delivery timelines, but the slow disbursement of funds is rather acting as an obstacle. Therefore, a strategized plan for implementation is needed to speed up the deliveries.
     
    Additional support from banks is also needed in terms of providing quick funding to the realtors. This budget should look into establishing a process that caters to realtors receiving timely funds from banks, without any delays from authorities in documentation, permissions and grants. The government must consider bringing subvention scheme into function to bring some momentum in the purchase of new homes. Single window clearance has been a long standing demand for the real estate sector. There is a need to look into the execution and permission timeline from the end of authorities, RERA being the regulatory body must question and assess them upon their execution."

  • 12:28 IST:

    Prasoon Chauhan, Founder & CEO, BlackOpal said, "The second largest employing sector of India, real estate needs support from government to resolve the liquidity issues at the earliest. One of the recent aid extended to the sector has been in the form of a Rs 25,000 crore AIF set up for stalled projects. While the motive behind providing this aid has been to fasten the delivery timelines, but the slow disbursement of funds is rather acting as an obstacle. Therefore, a strategized plan for implementation is needed to speed up the deliveries.
     
    Additional support from banks is also needed in terms of providing quick funding to the realtors. This budget should look into establishing a process that caters to realtors receiving timely funds from banks, without any delays from authorities in documentation, permissions and grants. The government must consider bringing subvention scheme into function to bring some momentum in the purchase of new homes. Single window clearance has been a long standing demand for the real estate sector. There is a need to look into the execution and permission timeline from the end of authorities, RERA being the regulatory body must question and assess them upon their execution."

  • Jan 22, 2021 11:52 (IST)

    SBI Cards gets Rs 450 crore funds from parent SBI

    SBI Cards & Payments, the credit card arm of the country's largest bank, the State Bank of India (SBI), has received Rs 450 crore of long-term funds from its parent. The second-largest card issuer in the country after HDFC Bank got this money at an attractive fixed interest rate of 6.0 per cent per annum for a period of 5 years.

    SBI Cards & Payments had earlier seen its gross NPAs doubling to 4.29 per cent in the second quarter (July-Sept) of 2020-21. The gross NPAs stand at 1.61 per cent of gross advances in December 2020 as against 0.83 per cent a year ago. The proforma gross NPAs, however, touched 4.51 per cent.


    SBI Cards gets Rs 450 crore funds from parent SBI, proforma gross NPAs double to 4.51%
     

  • 11:52 IST: SBI Cards & Payments, the credit card arm of the country's largest bank, the State Bank of India (SBI), has received Rs 450 crore of long-term funds from its parent. The second-largest card issuer in the country after HDFC Bank got this money at an attractive fixed interest rate of 6.0 per cent per annum for a period of 5 years.

    SBI Cards & Payments had earlier seen its gross NPAs doubling to 4.29 per cent in the second quarter (July-Sept) of 2020-21. The gross NPAs stand at 1.61 per cent of gross advances in December 2020 as against 0.83 per cent a year ago. The proforma gross NPAs, however, touched 4.51 per cent.


    SBI Cards gets Rs 450 crore funds from parent SBI, proforma gross NPAs double to 4.51%
     

  • Jan 22, 2021 11:30 (IST)

    Market falls further

    Market indices continued yesterday's fall and traded 0.7% lower on Friday, amid mixed global equities. Sensex was trading 350 points lower at 49,283 and Nifty was down 100 points lower at 14,490.

  • 11:30 IST: Market indices continued yesterday's fall and traded 0.7% lower on Friday, amid mixed global equities. Sensex was trading 350 points lower at 49,283 and Nifty was down 100 points lower at 14,490.

  • Jan 22, 2021 11:30 (IST)

    Jindal Steel and Power Q3 results

    Jindal Steel and Power Ltd (JSPL) on Thursday reported a consolidated net profit after tax (PAT) at Rs 2,432 crore for the third quarter ended December 31, 2020, on the back of improvement in operating and financial leverage. The steel and energy company had posted net loss of Rs 257 crore in December quarter of 2019, JSPL said in a regulatory filing on Thursday.

    The consolidated revenue jumped by 40 per cent to Rs 10,534 crore compared to Rs 7,526 crore in Q3 FY20, driven by strong performance in India steel as well as power business.

    Jindal Steel and Power Q3 results: Posts profit of Rs 2,432 crore, revenue up 39%

  • 11:30 IST: Jindal Steel and Power Ltd (JSPL) on Thursday reported a consolidated net profit after tax (PAT) at Rs 2,432 crore for the third quarter ended December 31, 2020, on the back of improvement in operating and financial leverage. The steel and energy company had posted net loss of Rs 257 crore in December quarter of 2019, JSPL said in a regulatory filing on Thursday.

    The consolidated revenue jumped by 40 per cent to Rs 10,534 crore compared to Rs 7,526 crore in Q3 FY20, driven by strong performance in India steel as well as power business.

    Jindal Steel and Power Q3 results: Posts profit of Rs 2,432 crore, revenue up 39%

  • Jan 22, 2021 11:20 (IST)

    Bajaj Auto Q3 results

    Bajaj Auto on Thursday reported a 23 per cent year-on-year increase in profit after tax (PAT) at Rs 1,556 crore for October-December quarter of financial year 2020-21. The company had reported a PAT of Rs 1,262 crore in the corresponding quarter a year ago.

    On a consolidated basis, the company's PAT stood at Rs 1,716 crore during October-December this year as against Rs 1,322 crore a year ago.

    Bajaj Auto Q3 results: Profit rises 23% to Rs 1,556 crore, revenue up 17%

  • 11:20 IST: Bajaj Auto on Thursday reported a 23 per cent year-on-year increase in profit after tax (PAT) at Rs 1,556 crore for October-December quarter of financial year 2020-21. The company had reported a PAT of Rs 1,262 crore in the corresponding quarter a year ago.

    On a consolidated basis, the company's PAT stood at Rs 1,716 crore during October-December this year as against Rs 1,322 crore a year ago.

    Bajaj Auto Q3 results: Profit rises 23% to Rs 1,556 crore, revenue up 17%

  • Jan 22, 2021 11:16 (IST)

    Nifty techical outlook

    Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services said," This has been a 'Buy on Dips'  market for months now. Sustained FII buying has been the main catalyst behind this strategy. Of late, better than expected corporate results have been supporting this strategy. Nothing warrants a change in this strategy now. But the market is likely to move into a consolidation phase for the short-term since the big news regarding the US presidency is behind us and the milestone of 50000 Sensex was reached. A positive surprise is the continuous flow of excellent corporate results. This will take away some concerns regarding valuations. Sustained FII inflows (Rs 1615 cr yesterday) can deter the bears from going short"

     

  • 11:16 IST: Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services said," This has been a 'Buy on Dips'  market for months now. Sustained FII buying has been the main catalyst behind this strategy. Of late, better than expected corporate results have been supporting this strategy. Nothing warrants a change in this strategy now. But the market is likely to move into a consolidation phase for the short-term since the big news regarding the US presidency is behind us and the milestone of 50000 Sensex was reached. A positive surprise is the continuous flow of excellent corporate results. This will take away some concerns regarding valuations. Sustained FII inflows (Rs 1615 cr yesterday) can deter the bears from going short"

     

  • Jan 22, 2021 11:05 (IST)

    Top losers and gainers in trade today

    HDFC, ONGC, ITC, L&T, RIL, NTPC were among the top losers today, while Bajaj Auto, Maruti, M&M, TCS, HUL were among the top gainers on Sensex pack.

  • 11:05 IST: HDFC, ONGC, ITC, L&T, RIL, NTPC were among the top losers today, while Bajaj Auto, Maruti, M&M, TCS, HUL were among the top gainers on Sensex pack.

  • Jan 22, 2021 10:46 (IST)

    Nifty opening session technical indicators

     On markets opening --Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments said,"The Nifty has become slightly nervous after facing resistance at 14750. While the trend still remains positive, we need to approach the index strategically. On the upside we can go up to 14800-14900. On the downside, we have a good support at 14300. Hence traders can initiate long positions with a target of 14800 and a stop below 14300."
     

  • 10:46 IST:  On markets opening --Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments said,"The Nifty has become slightly nervous after facing resistance at 14750. While the trend still remains positive, we need to approach the index strategically. On the upside we can go up to 14800-14900. On the downside, we have a good support at 14300. Hence traders can initiate long positions with a target of 14800 and a stop below 14300."
     

  • Jan 22, 2021 10:43 (IST)

    Budget: BJP suggests three-pronged strategy to maximise PSU valuation for disinvestment

    Amid concerns regarding flailing valuations of the public sector units (PSUs) despite a remarkable recovery in the equity markets from COVID lows, the ruling Bharatiya Janata Party (BJP) has suggested three - pronged strategy to Finance Minister Nirmala Sitharaman to maximise their value for the purpose of disinvestment or strategic sale.

    During its pre-budget interactions held last month and early this month, the party gathered feedback from the participants in the capital markets and has submitted a representation to the finance minister on maximising PSU valuation.

    The party has suggested a three-pronged strategy for the same. BJP national spokesperson on economic affairs, Gopal Krishna Agarwal, told BusinessToday.In, "Based on our feedback, we have suggested to the finance minister various approaches for value maximisation of the PSU. The first one being asset monetisation. Secondly, there is a need for better corporate governance in the PSUs for the valuation to rise. Thirdly, there is no need for the government to announce a headline disinvestment target in the budget as it impacts valuation. It remains to be seen up to what extent are the recommendations accepted by the government," Agarwal added.

    Budget: BJP suggests three-pronged strategy to maximise PSU valuation for disinvestment

  • 10:43 IST: Amid concerns regarding flailing valuations of the public sector units (PSUs) despite a remarkable recovery in the equity markets from COVID lows, the ruling Bharatiya Janata Party (BJP) has suggested three - pronged strategy to Finance Minister Nirmala Sitharaman to maximise their value for the purpose of disinvestment or strategic sale.

    During its pre-budget interactions held last month and early this month, the party gathered feedback from the participants in the capital markets and has submitted a representation to the finance minister on maximising PSU valuation.

    The party has suggested a three-pronged strategy for the same. BJP national spokesperson on economic affairs, Gopal Krishna Agarwal, told BusinessToday.In, "Based on our feedback, we have suggested to the finance minister various approaches for value maximisation of the PSU. The first one being asset monetisation. Secondly, there is a need for better corporate governance in the PSUs for the valuation to rise. Thirdly, there is no need for the government to announce a headline disinvestment target in the budget as it impacts valuation. It remains to be seen up to what extent are the recommendations accepted by the government," Agarwal added.

    Budget: BJP suggests three-pronged strategy to maximise PSU valuation for disinvestment

  • Jan 22, 2021 10:37 (IST)

    Global markets mixed



    In US, the S&P 500 and Nasdaq closed at record highs on Thursday, investors watched Biden releasing details of his Covid plan on his first full day in office.

    Overseas, Asian stocks are trading lower on Friday as investors took some money off the table after a recent rally. In Japan, core consumer prices fell 1% in December from a year earlier, government data showed.

    In Europe, the European Central Bank left its key bond-purchase program unchanged Thursday and also pledged to provide more support for the economy if needed

     

  • 10:37 IST:

    In US, the S&P 500 and Nasdaq closed at record highs on Thursday, investors watched Biden releasing details of his Covid plan on his first full day in office.

    Overseas, Asian stocks are trading lower on Friday as investors took some money off the table after a recent rally. In Japan, core consumer prices fell 1% in December from a year earlier, government data showed.

    In Europe, the European Central Bank left its key bond-purchase program unchanged Thursday and also pledged to provide more support for the economy if needed

     

  • Jan 22, 2021 10:20 (IST)

    Sensex outshines gold in journey to 50,000 mark

    Benchmark Sensex, that hit historic mark of of 50,000 today, has delivered better returns than the gold, on the back of  roll-out of vaccines globally, normalisation of business operations and the monetary and fiscal support from the government.
    ADVERTISING

    Sensex surged almost 95.7% to the lifetime of 50,184 today from lows of 25,638 points in March 2020, when India announced Covid-19 lockdown. Gold prices, on the other hand, rose 36% from Rs 41,226 per 10 gm hit on March 23, 2020 to the lifetime high of Rs 56,191 per 10 gm on August 7, 2020.

    In the first month of 2021, while gold price has been consolidating near 50K, Sensex has risen 4.6%

    Additionally, over the past 15 years, Sensex has outshined gold. Since April 2005 till today, Sensex has given 7.5 times returns when compared to gold, that appreciated 7.1 times.

    Sensex outshines gold in journey to 50,000 mark

  • 10:20 IST: Benchmark Sensex, that hit historic mark of of 50,000 today, has delivered better returns than the gold, on the back of  roll-out of vaccines globally, normalisation of business operations and the monetary and fiscal support from the government.
    ADVERTISING

    Sensex surged almost 95.7% to the lifetime of 50,184 today from lows of 25,638 points in March 2020, when India announced Covid-19 lockdown. Gold prices, on the other hand, rose 36% from Rs 41,226 per 10 gm hit on March 23, 2020 to the lifetime high of Rs 56,191 per 10 gm on August 7, 2020.

    In the first month of 2021, while gold price has been consolidating near 50K, Sensex has risen 4.6%

    Additionally, over the past 15 years, Sensex has outshined gold. Since April 2005 till today, Sensex has given 7.5 times returns when compared to gold, that appreciated 7.1 times.

    Sensex outshines gold in journey to 50,000 mark

  • Jan 22, 2021 10:11 (IST)

    Six stocks that have been part of the index's dream run

    Sensex finally crossed the historical mark of 50,000 today, gaining over 95% since March. The rally was powered by gains in major index heavyweights that also notched to new record highs amid increased investor participation.

    Since 1986, when S&P BSE Sensex was launched, only six companies have been able to retain their place in the 30-share index, while the rest have shuffled from time to time based on their performance. These are Reliance Industries, Hindustan Unilever, Nestle, ITC, Mahindra & Mahindra and Larsen and Toubro.

    Sensex at 50,000: Six stocks that have been part of the index's dream run

  • 10:11 IST: Sensex finally crossed the historical mark of 50,000 today, gaining over 95% since March. The rally was powered by gains in major index heavyweights that also notched to new record highs amid increased investor participation.

    Since 1986, when S&P BSE Sensex was launched, only six companies have been able to retain their place in the 30-share index, while the rest have shuffled from time to time based on their performance. These are Reliance Industries, Hindustan Unilever, Nestle, ITC, Mahindra & Mahindra and Larsen and Toubro.

    Sensex at 50,000: Six stocks that have been part of the index's dream run

  • Jan 22, 2021 09:51 (IST)

    FII action

    Foreign portfolio investors (FPIs) bought shares worth Rs 1,614.66 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 1,039.48 crore in the Indian equity market on 21 January, provisional data showed.


     

  • 09:51 IST: Foreign portfolio investors (FPIs) bought shares worth Rs 1,614.66 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 1,039.48 crore in the Indian equity market on 21 January, provisional data showed.


     

  • Jan 22, 2021 09:42 (IST)

    Opening session on Friday

    Market indices opened on a flat after yesterday's climb note on Friday, amid mixed global equities. SGX Nifty on the Singapore Exchange was rising by 10 points, indicating a weak trend in domestic grounds today. Sensex was trading 46 points lower at 49,578 and Nifty was down 25 points lower at 14,576.

  • 09:42 IST: Market indices opened on a flat after yesterday's climb note on Friday, amid mixed global equities. SGX Nifty on the Singapore Exchange was rising by 10 points, indicating a weak trend in domestic grounds today. Sensex was trading 46 points lower at 49,578 and Nifty was down 25 points lower at 14,576.

  • Jan 22, 2021 09:41 (IST)

    Stocks in news: HDFC Bank, Vedanta, Wipro, MCX India, Cyient, JK Tyre



    Stocks to watch today on January 22: HDFC Bank, Vedanta, Wipro, MCX India, Cyient, JK Tyre among others are the top stocks to watch out for in Friday's trading session

    Stocks in news: HDFC Bank, Vedanta, Wipro, MCX India, Cyient, JK Tyre

  • 09:41 IST:

    Stocks to watch today on January 22: HDFC Bank, Vedanta, Wipro, MCX India, Cyient, JK Tyre among others are the top stocks to watch out for in Friday's trading session

    Stocks in news: HDFC Bank, Vedanta, Wipro, MCX India, Cyient, JK Tyre

  • Jan 22, 2021 09:22 (IST)

    Earnings today

    Reliance Industries, Yes Bank, Gland Pharma, HDFC Life Insurance Company, SBI Life Insurance Company, ARSS Infrastructure Projects, Century Textiles, Crompton Greaves Consumer Electricals, Fineotex Chemical, Gujarat Ambuja Exports, Indian Bank, India Grid Trust, JSW Steel, Kopran, Mangalam Organics, Oberoi Realty, Reliance Home Finance, Shiva Cement, Simplex Projects, Symphony and V-Mart Retail were among 41 companies to announce their quarterly earnings.

  • 09:22 IST: Reliance Industries, Yes Bank, Gland Pharma, HDFC Life Insurance Company, SBI Life Insurance Company, ARSS Infrastructure Projects, Century Textiles, Crompton Greaves Consumer Electricals, Fineotex Chemical, Gujarat Ambuja Exports, Indian Bank, India Grid Trust, JSW Steel, Kopran, Mangalam Organics, Oberoi Realty, Reliance Home Finance, Shiva Cement, Simplex Projects, Symphony and V-Mart Retail were among 41 companies to announce their quarterly earnings.

  • Jan 22, 2021 09:20 (IST)

    NSE Nifty technical support and resistance

    Reliance Research in its morning note said,"  NSE-NIFTY extended gain and recorded new high of 14,745-level. In the late trades, the index witnessed high volatility amidst negative news flow and finished trade with minor loss. Overall market breadth turned in favour of the bears and negative trend was observed across the sectors. Due to recent volatility, major technical indicators on the near-term timeframe chart reversed from their overbought zone and negatively poised. Hence, the index may witness near-term decline or consolidation before fresh up-move starts. In case of decline, the index will find support at around 14,400-level initially and at around 14,250-level subsequently. On the higher side, its life-time-high will cap the up-move, which is place at 14,754-level.

    As for the day, support is placed at around 14,487 and then at 14,384 levels, while resistance is observed at 14,724 and then at 14,857 levels."

  • 09:20 IST: Reliance Research in its morning note said,"  NSE-NIFTY extended gain and recorded new high of 14,745-level. In the late trades, the index witnessed high volatility amidst negative news flow and finished trade with minor loss. Overall market breadth turned in favour of the bears and negative trend was observed across the sectors. Due to recent volatility, major technical indicators on the near-term timeframe chart reversed from their overbought zone and negatively poised. Hence, the index may witness near-term decline or consolidation before fresh up-move starts. In case of decline, the index will find support at around 14,400-level initially and at around 14,250-level subsequently. On the higher side, its life-time-high will cap the up-move, which is place at 14,754-level.

    As for the day, support is placed at around 14,487 and then at 14,384 levels, while resistance is observed at 14,724 and then at 14,857 levels."

  • Jan 22, 2021 09:19 (IST)

    Nifty techical outlook

    Rahul Sharma, Head-Technical & Derivatives Research, JM Financial Services said, "What a day for Sensex to hit 50k. 21st Day of the 21st Year, of the 21st Century! However, we believe this is more of a mental milestone but an important one. Since booking the profit is better than looking at the profit, we advise to take some profits around Nifty 14,800/15,000 levels & keep the portfolio's hedged with Nifty Put Options of February Expiry. As a Budget Strategy for traders, it's best to buy the expectation & sell the realization. Maintain trailing stop loss of 14,440 for positional longs in Nifty."

  • 09:19 IST: Rahul Sharma, Head-Technical & Derivatives Research, JM Financial Services said, "What a day for Sensex to hit 50k. 21st Day of the 21st Year, of the 21st Century! However, we believe this is more of a mental milestone but an important one. Since booking the profit is better than looking at the profit, we advise to take some profits around Nifty 14,800/15,000 levels & keep the portfolio's hedged with Nifty Put Options of February Expiry. As a Budget Strategy for traders, it's best to buy the expectation & sell the realization. Maintain trailing stop loss of 14,440 for positional longs in Nifty."

  • Jan 22, 2021 09:16 (IST)

    Closing on Thursday

    After hitting record highs in the morning trade, market indices turned volatile during the last hour and closed lower on Thursday, in line with mixed global equities. While Sensex closed 167 points lower at 49,624, Nifty fell 54 points to end at 14,590. Earlier, Sensex rose above the historic mark of 50,000 and Nifty above 14,700 for the first time amid rise in Asian markets. Sensex and Nifty hit fresh lifetime highs of 50,184 and 14,753, respectively.

    Sensex ends lower on profit-booking after scaling 50,000 mark: 10 things to know about the market today

  • 09:16 IST: After hitting record highs in the morning trade, market indices turned volatile during the last hour and closed lower on Thursday, in line with mixed global equities. While Sensex closed 167 points lower at 49,624, Nifty fell 54 points to end at 14,590. Earlier, Sensex rose above the historic mark of 50,000 and Nifty above 14,700 for the first time amid rise in Asian markets. Sensex and Nifty hit fresh lifetime highs of 50,184 and 14,753, respectively.

    Sensex ends lower on profit-booking after scaling 50,000 mark: 10 things to know about the market today