Business Today
Loading...

Share Market Highlights: Sensex ends 549 points lower, Nifty at 14,433; banking, IT stocks lead losses

January 15,2021 17:49 IST

Sensex, Nifty Highlights on January 15: Market indices reversed trend and fell over 1% each to close on a bearish note on Friday, amid weak global equities. Sensex ended 549 points to 49,034 and Nifty fell by 161 points lower at 14,433. UltraTech Cement, followed by Tech Mahindra, ITC, M&M, Maruti, HUL, Infosys, Asian Paints, IndusInd Bank, Dr Reddy's, HCL Tech and TCS were among the top losers today. All the sectors were trading in red, with over 2% fall registered in IT, banking and financial stocks. On the other hand, Bharti Airtel, Bajaj Finance, Bajaj Auto, RIL, NTPC and SBI were among the gainers. Meanwhile, December quarterly earnings announcements by HCL Tech, PVR, Shoppers Stop, L&T Finance Holdings, Hathway Cable and Aditya Birla Money will also set the tone for the stock market today. As per traders, consistent foreign inflows along with better quarterly results are continuing to set the pace of the broad market. Yesterday, Sensex ended 91 points higher at 49,584 and Nifty gained 30 points to 14,595.

 

 

 

 

 

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

 

 

 

Check Latest Updates

KEY UPDATES

  • Dalal Street today: HCL Tech, PVR: UltraTech Cement, followed by Tech Mahindra, ITC, M&M, Maruti, HUL, Infosys, Asian Paints, IndusInd Bank, Dr Reddy's, HCL Tech and TCS were among the top losers today. On the other hand, Bharti Airtel, Bajaj Finance, Bajaj Auto, RIL, NTPC and SBI were among the gainers.
  • Jan 15, 2021 16:00 (IST)

    Closing

    Market indices reversed trend and fell over 1% each to close on a bearish note on Friday, amid weak global equities. Sensex ended 549 points to 49,034 and Nifty fell by 161 points lower at 14,433.

  • 16:00 IST: Market indices reversed trend and fell over 1% each to close on a bearish note on Friday, amid weak global equities. Sensex ended 549 points to 49,034 and Nifty fell by 161 points lower at 14,433.

  • Jan 15, 2021 15:36 (IST)

    PVR stock rises 3% after post Q3 result



    PVR share price were trading almost 3% higher on Friday after the multiplex firm reported net loss of Rs 49 crore for the quarter ended 31 December, 2020 as against net profit of Rs 36 crore a year ago.


    The results were better than estimates as company's net loss narrowed compared to net loss of Rs 184 crore in September quarter.

    Following the news, PVR stock opened flat and later touched an intraday high of Rs 1,485, rising 3.4% on BSE as against the last closing price of Rs 1,435. the stock also hit an intraday low of Rs 1,428.80.


    PVR share price is trading higher than 5, 20, 50, 100 and 200-day moving averages. PVR stock price has risen 1.22% in one week, 2% in one month, 11% year-to-date.

  • 15:36 IST:

    PVR share price were trading almost 3% higher on Friday after the multiplex firm reported net loss of Rs 49 crore for the quarter ended 31 December, 2020 as against net profit of Rs 36 crore a year ago.


    The results were better than estimates as company's net loss narrowed compared to net loss of Rs 184 crore in September quarter.

    Following the news, PVR stock opened flat and later touched an intraday high of Rs 1,485, rising 3.4% on BSE as against the last closing price of Rs 1,435. the stock also hit an intraday low of Rs 1,428.80.


    PVR share price is trading higher than 5, 20, 50, 100 and 200-day moving averages. PVR stock price has risen 1.22% in one week, 2% in one month, 11% year-to-date.

  • Jan 15, 2021 15:25 (IST)

    Tata Motors hits new high


    Shares of Tata Motors extended their winning run to the 11th straight day on Friday to hit a new 52 week high of Rs 264.6. This was after media reports suggested earlier that Tesla may choose Tata Motors for its much awaited foray into the Indian market.

    Following the news, Tata Motors share price hit a new 52 week high of Rs 264.6, rising 7.93% on BSE today. The stock has risen 43.69% in the last 11 days. Tata Motors is trading higher than 5, 20, 50, 100 and 200 day moving averages. The stock has risen 31% in one week, 45% in one month and 29% in one year.

    "Tata Motors has not taken any decision regarding a strategic partner for its PV business and categorically denies any and all rumours suggesting the same," it said in a press release.

  • 15:25 IST:
    Shares of Tata Motors extended their winning run to the 11th straight day on Friday to hit a new 52 week high of Rs 264.6. This was after media reports suggested earlier that Tesla may choose Tata Motors for its much awaited foray into the Indian market.

    Following the news, Tata Motors share price hit a new 52 week high of Rs 264.6, rising 7.93% on BSE today. The stock has risen 43.69% in the last 11 days. Tata Motors is trading higher than 5, 20, 50, 100 and 200 day moving averages. The stock has risen 31% in one week, 45% in one month and 29% in one year.

    "Tata Motors has not taken any decision regarding a strategic partner for its PV business and categorically denies any and all rumours suggesting the same," it said in a press release.

  • Jan 15, 2021 15:06 (IST)

    Nifty technical outlook

     Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

    "As repeatedly pointed out, most indicators of market valuations are much higher than long-term averages. Now, an important indicator - market cap to GDP- has crossed 100 % indicating overvaluation. However, economic indicators are suggesting faster than expected recovery in the economy. Present valuations can be justified only if the recovery sustains and gathers momentum. In the short run expectations regarding the budget are likely to influence market movements. Retail investors buying low-grade stocks is an extremely risky investment"

     

  • 15:06 IST:  Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

    "As repeatedly pointed out, most indicators of market valuations are much higher than long-term averages. Now, an important indicator - market cap to GDP- has crossed 100 % indicating overvaluation. However, economic indicators are suggesting faster than expected recovery in the economy. Present valuations can be justified only if the recovery sustains and gathers momentum. In the short run expectations regarding the budget are likely to influence market movements. Retail investors buying low-grade stocks is an extremely risky investment"

     

  • Jan 15, 2021 15:01 (IST)

    All sectors in red today

    All the sectors were trading in red, with over 2% fall registered in IT, banking and financial stocks.

  • 15:01 IST: All the sectors were trading in red, with over 2% fall registered in IT, banking and financial stocks.

  • Jan 15, 2021 14:54 (IST)

    Trident stock rises 3% after firm receives patent from Europe



    Trident share price were trading almost 4% higher on Friday and traded 2% lower even after the company said it had received a patent for 'terry fabric weave and resulting terry fabric' from the European Patent Office.

    Following the news, Trident stock opened with a gain at Rs 14.50 and later touched touched an intraday high of Rs 14.95, rising 3.9% on BSE as against the last closing price of Rs 14.38, also its intraday low.


    Trident share price is trading higher than 5, 20, 50, 100 and 200-day moving averages. Trident stock price has risen 2.65% in the last 2 days of consecutive gains.

  • 14:54 IST:

    Trident share price were trading almost 4% higher on Friday and traded 2% lower even after the company said it had received a patent for 'terry fabric weave and resulting terry fabric' from the European Patent Office.

    Following the news, Trident stock opened with a gain at Rs 14.50 and later touched touched an intraday high of Rs 14.95, rising 3.9% on BSE as against the last closing price of Rs 14.38, also its intraday low.


    Trident share price is trading higher than 5, 20, 50, 100 and 200-day moving averages. Trident stock price has risen 2.65% in the last 2 days of consecutive gains.

  • Jan 15, 2021 14:41 (IST)

    NTPC outlook

    Reliance Research said in its report today," Looking ahead, we expect NTPC’s business to improve on the back of higher capacity commercialisation, better fuel availability and likely improvement in demand owing to UDAY scheme. We believe that capacity addition track record, assured RoE, robust balance-sheet and strong operational cash-flows continue to augur well for NTPC."

     

  • 14:41 IST: Reliance Research said in its report today," Looking ahead, we expect NTPC’s business to improve on the back of higher capacity commercialisation, better fuel availability and likely improvement in demand owing to UDAY scheme. We believe that capacity addition track record, assured RoE, robust balance-sheet and strong operational cash-flows continue to augur well for NTPC."

     

  • Jan 15, 2021 14:35 (IST)

    Nifty technical outlook

    Sameet Chavan (Chief Analyst-Technical and Derivatives, Angel Broking) said," For the coming session, 14650 remains to be an immediate resistance; whereas on the lower side, 14500 - 14430 are to be seen as crucial supports. As of now there is no sign of weakness in the index but if we look at the overall market breadth since last few days, individual stocks started to show some fatigue now. Hence, traders are continuously advised to stay light and look to take some money off the table. Yesterday, banking was slightly on the back foot in the second half as the baton was passed to IT and Pharma stocks.

     

  • 14:35 IST: Sameet Chavan (Chief Analyst-Technical and Derivatives, Angel Broking) said," For the coming session, 14650 remains to be an immediate resistance; whereas on the lower side, 14500 - 14430 are to be seen as crucial supports. As of now there is no sign of weakness in the index but if we look at the overall market breadth since last few days, individual stocks started to show some fatigue now. Hence, traders are continuously advised to stay light and look to take some money off the table. Yesterday, banking was slightly on the back foot in the second half as the baton was passed to IT and Pharma stocks.

     

  • Jan 15, 2021 14:25 (IST)

    Budget Expectations


     Pranay Bhatia, Partner & Leader - Tax & Regulatory Services, BDO India said:"

     

    1.Tax rates for corporates were reduced to 22 or 25% as applicable. This was with the intent to attract larger corporates to India. However, though LLP was enacted as a structure for undertaking business, tax rates applicable to business income of an LLP continued at 30%. This has led to business format being left to decision making, especially for smaller businesses. All corporate tax rates should therefore be aligned such that even partnership firms and LLP’s are also subject to tax rates applicable to companies, which is 22 or 25% as applicable.
     
    2. A large group generally undertakes different businesses in different companies with a view to segregate external liabilities amongst businesses. This has led to a group paying taxes on income, without having the ability to set off losses incurred in other businesses. Consolidating corporate tax payers in a group for tax purposes seems to be a logical way forward and in line with global best tax practices.
     
    3. With the changes implemented from the last budget, dividend income is now taxable in the hands of the tax payers. Indian companies are now required to withhold tax from dividend distribution. For domestic shareholders the threshold is set at INR 5,000, above which an Indian company is required to examine withholding obligations, leading to substantial tax compliance challenges. Very low threshold of INR 5,000 for applicability of withholding tax in dividend income needs a serious relook so as to ease compliance burden for Indian companies.
     
    4.Post COVID times have resulted in a number of service providers Working From Home. WFH has now become the new normal. The tax laws therefore need to be updated to specifically provide guidance and relaxation for corporates and employees in view of emerging necessities. This would lead to ease of undertaking compliances and hopefully reduce the burden for employees.
     
    5. General Anti Avoidance Rules were introduced with a view to discourage tax avoidance techniques being employed. The threshold for triggering examinations of such schemes was set more than 5 years back at tax effect of INR 30 million. Over a period of time, inflation and evolution of business models merit revisiting of such thresholds.

  • 14:25 IST:
     Pranay Bhatia, Partner & Leader - Tax & Regulatory Services, BDO India said:"

     

    1.Tax rates for corporates were reduced to 22 or 25% as applicable. This was with the intent to attract larger corporates to India. However, though LLP was enacted as a structure for undertaking business, tax rates applicable to business income of an LLP continued at 30%. This has led to business format being left to decision making, especially for smaller businesses. All corporate tax rates should therefore be aligned such that even partnership firms and LLP’s are also subject to tax rates applicable to companies, which is 22 or 25% as applicable.
     
    2. A large group generally undertakes different businesses in different companies with a view to segregate external liabilities amongst businesses. This has led to a group paying taxes on income, without having the ability to set off losses incurred in other businesses. Consolidating corporate tax payers in a group for tax purposes seems to be a logical way forward and in line with global best tax practices.
     
    3. With the changes implemented from the last budget, dividend income is now taxable in the hands of the tax payers. Indian companies are now required to withhold tax from dividend distribution. For domestic shareholders the threshold is set at INR 5,000, above which an Indian company is required to examine withholding obligations, leading to substantial tax compliance challenges. Very low threshold of INR 5,000 for applicability of withholding tax in dividend income needs a serious relook so as to ease compliance burden for Indian companies.
     
    4.Post COVID times have resulted in a number of service providers Working From Home. WFH has now become the new normal. The tax laws therefore need to be updated to specifically provide guidance and relaxation for corporates and employees in view of emerging necessities. This would lead to ease of undertaking compliances and hopefully reduce the burden for employees.
     
    5. General Anti Avoidance Rules were introduced with a view to discourage tax avoidance techniques being employed. The threshold for triggering examinations of such schemes was set more than 5 years back at tax effect of INR 30 million. Over a period of time, inflation and evolution of business models merit revisiting of such thresholds.

  • Jan 15, 2021 14:11 (IST)

    Market falls further

    Market indices reversed trend and fell by 1.2% each on Friday, amid weak global equities. Sensex was falling by 570 points to 48,976 and Nifty traded 170 points lower at 14,425.

  • 14:11 IST: Market indices reversed trend and fell by 1.2% each on Friday, amid weak global equities. Sensex was falling by 570 points to 48,976 and Nifty traded 170 points lower at 14,425.

  • Jan 15, 2021 14:08 (IST)

    ICICI General Insurance outlook



    Reliance Research in its report said,"The stock explored uncharted territory after a breakout from Descending Triangle pattern. Key moving averages are parallel and slopping upwards, which signals strong up-trend. Since two months, its momentum indicator-RSI remained above the neutral line, which is placed at 50-level. As per the current set-up, we expect the undergoing positive momentum will continue. This could take the stock towards Rs1,720 initially and Rs1,790 subsequently. In case of decline, the stock will find strong support at around its intermediate horizontal trend line, which is placed at around Rs1,424. Long position can be initiated between Rs1,575-Rs1,545 for the target of Rs1,790 with the closing based stop loss of Rs1,424."

     

  • 14:08 IST:

    Reliance Research in its report said,"The stock explored uncharted territory after a breakout from Descending Triangle pattern. Key moving averages are parallel and slopping upwards, which signals strong up-trend. Since two months, its momentum indicator-RSI remained above the neutral line, which is placed at 50-level. As per the current set-up, we expect the undergoing positive momentum will continue. This could take the stock towards Rs1,720 initially and Rs1,790 subsequently. In case of decline, the stock will find strong support at around its intermediate horizontal trend line, which is placed at around Rs1,424. Long position can be initiated between Rs1,575-Rs1,545 for the target of Rs1,790 with the closing based stop loss of Rs1,424."

     

  • Jan 15, 2021 13:47 (IST)

    HCL Q3 profit grows 31.1% to Rs 3,982 cr

    IT major HCL Technologies has posted 31.1 per cent year-on-year rise in net profit at Rs 3,982 crore for the December 2020 quarter, the company informed the stock exchanges on Friday. On a Q-o-Q basis, HCL's profit grew 26.7 per cent, while its topline was higher by 3.8 per cent from the previous quarter. The HCL Tech Board of Directors has declared an interim dividend of Rs 4 per equity share for the financial year 2020-21. The IT major had registered a net profit of Rs 3,037 crore in the October-December 2019 quarter (as per US GAAP).


    HCL Q3 profit grows 31.1% to Rs 3,982 cr on momentum in digital, cloud segments

  • 13:47 IST: IT major HCL Technologies has posted 31.1 per cent year-on-year rise in net profit at Rs 3,982 crore for the December 2020 quarter, the company informed the stock exchanges on Friday. On a Q-o-Q basis, HCL's profit grew 26.7 per cent, while its topline was higher by 3.8 per cent from the previous quarter. The HCL Tech Board of Directors has declared an interim dividend of Rs 4 per equity share for the financial year 2020-21. The IT major had registered a net profit of Rs 3,037 crore in the October-December 2019 quarter (as per US GAAP).


    HCL Q3 profit grows 31.1% to Rs 3,982 cr on momentum in digital, cloud segments

  • Jan 15, 2021 13:32 (IST)

    Amazon urges SEBI not to approve Future-Reliance deal

    Amid ongoing legal battle with Kishore Biyani-led Future Group, US-based Amazon has sent another letter to the Securities and Exchange Board of India (SEBI), requesting the market regulator not to issue a 'no-objection certificate' (NOC) to Future Retail's Rs 24,713 crore deal with Reliance Industries and suspend the review immediately. The e-commerce giant has also urged SEBI to prohibit Indian stock exchanges from issuing any approval letter to Future Retail Limited (FRL).

    "In view of the directions in the operative part of the Interim Award, we request your good offices to take action by inter alia: (i) suspending review of the impugned transaction as well as the scheme involving the impugned transaction, and not granting any no-objection in relation to the same; and (ii) directing the Indian Stock Exchanges not to issue any no-objection/approval letter to FRL," Amazon said in a letter dated January 14, 2021.

    Amazon urges SEBI not to approve Future-Reliance deal

  • 13:32 IST: Amid ongoing legal battle with Kishore Biyani-led Future Group, US-based Amazon has sent another letter to the Securities and Exchange Board of India (SEBI), requesting the market regulator not to issue a 'no-objection certificate' (NOC) to Future Retail's Rs 24,713 crore deal with Reliance Industries and suspend the review immediately. The e-commerce giant has also urged SEBI to prohibit Indian stock exchanges from issuing any approval letter to Future Retail Limited (FRL).

    "In view of the directions in the operative part of the Interim Award, we request your good offices to take action by inter alia: (i) suspending review of the impugned transaction as well as the scheme involving the impugned transaction, and not granting any no-objection in relation to the same; and (ii) directing the Indian Stock Exchanges not to issue any no-objection/approval letter to FRL," Amazon said in a letter dated January 14, 2021.

    Amazon urges SEBI not to approve Future-Reliance deal

  • Jan 15, 2021 13:29 (IST)

    SAIL OFS outlook

    Jyoti Roy - DVP- Equity Strategist, Angel Broking said," SAIL offer for sale (OFS) of Rs. 1,322 crore has been oversubscribed by non retail investors on day one. While the Government has put 20.65 crore shares representing 5% of the paid up capital, they also have a greenshoe option of additional 20.65 crore shares.  Looking at the oversubscription by non retail category we feel that the Government will exercise the entire greenshoe option of additional 20.65 crore shares. SAIL OFS will be open for subscription for retail shareholders on the 15th of January 2020. Out of the total issue 12.5% is reserved for retail shareholders. At The floor price, the stock is offered at P/E multiples of 12.5xFY2020 EPS of `5.1, which is on the higher side. Recent hike in steel prices by domestic manufacturers on the back of run up in global steel prices have led to a rally in the stock. However considering the recent run up in stock prices we have a NEUTRAL rating on the issue."
     

  • 13:29 IST: Jyoti Roy - DVP- Equity Strategist, Angel Broking said," SAIL offer for sale (OFS) of Rs. 1,322 crore has been oversubscribed by non retail investors on day one. While the Government has put 20.65 crore shares representing 5% of the paid up capital, they also have a greenshoe option of additional 20.65 crore shares.  Looking at the oversubscription by non retail category we feel that the Government will exercise the entire greenshoe option of additional 20.65 crore shares. SAIL OFS will be open for subscription for retail shareholders on the 15th of January 2020. Out of the total issue 12.5% is reserved for retail shareholders. At The floor price, the stock is offered at P/E multiples of 12.5xFY2020 EPS of `5.1, which is on the higher side. Recent hike in steel prices by domestic manufacturers on the back of run up in global steel prices have led to a rally in the stock. However considering the recent run up in stock prices we have a NEUTRAL rating on the issue."
     

  • Jan 15, 2021 13:05 (IST)

    Gold and silver outlook for today

     Anuj Gupta- DVP- Commodities and Currencies Research, Angel Broking said,"Yesterday gold prices corrected by 0.17% and closed at 49221 levels  due to profit booking on higher levels. In the US people are expecting political stability and strength in US dollar and bond yield. This may fade out the safe haven demand of gold. Silver prices increased by 1% and closed at 66683 levels.
     

    Stronger US currency made the Dollar denominated Gold less desirable for other currency holders. President Jo Biden’s administration is expected to infuse enormous stimulus in to their system so as to get its economy back on track.

     

    As of today traders can go for sell in Gold at 49400 levels with the stop loss of 49800 for the target of 48500 levels. Also sell silver at 66300 levels with the stop loss of 67100 levels for the target of 64500 levels."

     

     

  • 13:05 IST:  Anuj Gupta- DVP- Commodities and Currencies Research, Angel Broking said,"Yesterday gold prices corrected by 0.17% and closed at 49221 levels  due to profit booking on higher levels. In the US people are expecting political stability and strength in US dollar and bond yield. This may fade out the safe haven demand of gold. Silver prices increased by 1% and closed at 66683 levels.
     

    Stronger US currency made the Dollar denominated Gold less desirable for other currency holders. President Jo Biden’s administration is expected to infuse enormous stimulus in to their system so as to get its economy back on track.

     

    As of today traders can go for sell in Gold at 49400 levels with the stop loss of 49800 for the target of 48500 levels. Also sell silver at 66300 levels with the stop loss of 67100 levels for the target of 64500 levels."

     

     

  • Jan 15, 2021 12:41 (IST)

    HCL Tech outlook

     Jyoti Roy - DVP- Equity Strategist, Angel Broking said,"HCL Tech reported a 4.4% qoq growth in revenues to USD 2617mn which was ahead of our estimates of USD 2,598. In rupee terms consolidated revenue increased by 3.8% qoq to ₹19,302 crore while gross profits increased by 5.8% qoq to ₹8,107 crore. Gross margins expanded by ~80bps qoq to 42.0% against our expectations of 41.3%. Consolidated operating profit for the quarter was up by 9.9% qoq while EBIT margins were up by ~130bps qoq to 22.9%. Net profit for the quarter was up by 26.3% qoq to ₹3,918 crore. Management has increased their guidance for Q4FY21 to 2.0-3.0% growth in revenue in constant currency terms. While the Q1FY21 numbers were marginally ahead of our estimates in terms of revenue growth the expansion in margins despite wage hikes during the quarter was a pleasant surprise. We continue to remain positive on HCL Technologies and have a target price of ₹1,180 on the stock."

  • 12:41 IST:  Jyoti Roy - DVP- Equity Strategist, Angel Broking said,"HCL Tech reported a 4.4% qoq growth in revenues to USD 2617mn which was ahead of our estimates of USD 2,598. In rupee terms consolidated revenue increased by 3.8% qoq to ₹19,302 crore while gross profits increased by 5.8% qoq to ₹8,107 crore. Gross margins expanded by ~80bps qoq to 42.0% against our expectations of 41.3%. Consolidated operating profit for the quarter was up by 9.9% qoq while EBIT margins were up by ~130bps qoq to 22.9%. Net profit for the quarter was up by 26.3% qoq to ₹3,918 crore. Management has increased their guidance for Q4FY21 to 2.0-3.0% growth in revenue in constant currency terms. While the Q1FY21 numbers were marginally ahead of our estimates in terms of revenue growth the expansion in margins despite wage hikes during the quarter was a pleasant surprise. We continue to remain positive on HCL Technologies and have a target price of ₹1,180 on the stock."

  • Jan 15, 2021 12:34 (IST)

    Bharti Airtel outlook

     Keshav Lahoti-Associate Equity Analyst, Angel Broking said,"Index provider MSCI on Thursday informed that Bharti Airtel will be part of its February 2021 quarterly review index as NSDL has updated the foreign investment limit to 100% from 49% for the company. Increase in MSCI weightage will lead to more inflow for the company. This was a positive development for the company. From the last three months subscriber addition reported by TRAI till October month, the company has gained most subscribers.  We are bullish on the company considering that industry dynamics are looking favorable, it is expected to continue to gain market share and it is positioned well to clear its AGR dues.

  • 12:34 IST:  Keshav Lahoti-Associate Equity Analyst, Angel Broking said,"Index provider MSCI on Thursday informed that Bharti Airtel will be part of its February 2021 quarterly review index as NSDL has updated the foreign investment limit to 100% from 49% for the company. Increase in MSCI weightage will lead to more inflow for the company. This was a positive development for the company. From the last three months subscriber addition reported by TRAI till October month, the company has gained most subscribers.  We are bullish on the company considering that industry dynamics are looking favorable, it is expected to continue to gain market share and it is positioned well to clear its AGR dues.

  • Jan 15, 2021 12:10 (IST)

    Donald Trump impeached over US Capitol siege


    President Donald Trump was impeached by the US House for a historic second time Wednesday, charged with "incitement of insurrection" over the deadly mob siege of the Capitol in a swift and stunning collapse of his final days in office. With the Capitol secured by armed National Guard troops inside and out, the House voted 232-197 to impeach Trump. The proceedings moved at lightning speed, with lawmakers voting just one week after violent pro-Trump loyalists stormed the US Capitol, egged on by the president's calls for them to "fight like hell" against the election results.

    Donald Trump impeached over US Capitol siege

  • 12:10 IST:
    President Donald Trump was impeached by the US House for a historic second time Wednesday, charged with "incitement of insurrection" over the deadly mob siege of the Capitol in a swift and stunning collapse of his final days in office. With the Capitol secured by armed National Guard troops inside and out, the House voted 232-197 to impeach Trump. The proceedings moved at lightning speed, with lawmakers voting just one week after violent pro-Trump loyalists stormed the US Capitol, egged on by the president's calls for them to "fight like hell" against the election results.

    Donald Trump impeached over US Capitol siege

  • Jan 15, 2021 12:09 (IST)

    Brent crude future trade lower

    Brent crude futures, the global oil benchmark, fell 0.41 per cent to USD 56.19 per barrel. Oil price reversed and moved higher backed by weak dollar and positive Chinese data. But upside was capped by worries over demand due to fresh lockdown restrictions.

  • 12:09 IST: Brent crude futures, the global oil benchmark, fell 0.41 per cent to USD 56.19 per barrel. Oil price reversed and moved higher backed by weak dollar and positive Chinese data. But upside was capped by worries over demand due to fresh lockdown restrictions.

  • Jan 15, 2021 12:04 (IST)

    Trump Administration imposes sanctions on officials, companies

    The Trump administration in its waning days took another swipe at China and its biggest firms on Thursday, imposing sanctions on officials and companies for alleged misdeeds in the South China Sea and imposing an investment ban on nine more firms. The moves will further increase tensions with China, Washington's strategic rival in Asia, days before President-elect Joe Biden takes office on Wednesday. The Biden transition team did not immediately respond to a request for comment.


    Trump's parting shot at China; imposes sanctions on officials, companies

     

  • 12:04 IST: The Trump administration in its waning days took another swipe at China and its biggest firms on Thursday, imposing sanctions on officials and companies for alleged misdeeds in the South China Sea and imposing an investment ban on nine more firms. The moves will further increase tensions with China, Washington's strategic rival in Asia, days before President-elect Joe Biden takes office on Wednesday. The Biden transition team did not immediately respond to a request for comment.


    Trump's parting shot at China; imposes sanctions on officials, companies

     

  • Jan 15, 2021 11:51 (IST)

    Rupee slips 3 paise to 73.07 amid strong US dollar, weak equities

    The rupee opened on a flat note and fell by 3 paise to 73.07 per dollar on Friday, tracking the muted opening in domestic equities and weak Asian currencies. However, FPI inflows kept the losses in check.

    The domestic unit opened at 73.07 per US dollar at the interbank forex market, falling 3 paise over its previous close.

    Yesterday, the domestic unit ended higher by 11 paise at 73.04 per dollar against previous close of 73.15, tracking gains in domestic equities, continued FPI inflows  and weak American currency.

    Meanwhile, the dollar index rose by 0.06 per cent to 90.29 against a basket of six currencies. The euro, the sterling and the Japanese yen were trading flat against the US dollar in Asian trade.

    Rupee slips 3 paise to 73.07 amid strong US dollar, weak equities

     

  • 11:51 IST: The rupee opened on a flat note and fell by 3 paise to 73.07 per dollar on Friday, tracking the muted opening in domestic equities and weak Asian currencies. However, FPI inflows kept the losses in check.

    The domestic unit opened at 73.07 per US dollar at the interbank forex market, falling 3 paise over its previous close.

    Yesterday, the domestic unit ended higher by 11 paise at 73.04 per dollar against previous close of 73.15, tracking gains in domestic equities, continued FPI inflows  and weak American currency.

    Meanwhile, the dollar index rose by 0.06 per cent to 90.29 against a basket of six currencies. The euro, the sterling and the Japanese yen were trading flat against the US dollar in Asian trade.

    Rupee slips 3 paise to 73.07 amid strong US dollar, weak equities

     

  • Jan 15, 2021 11:33 (IST)

    Global markets

    Asian markets are trading mixed as investors analyse Biden's rescue package. Shares of Xiaomi plunged after Trump blacklisted the company for alleged Chinese military ties. US markets closed slightly lower even after Initial jobless claims spiked as they awaited details of Biden's big economic relief package.

    European markets closed higher as hopes for a big economic stimulus from incoming US President and on the back of positive news on Covid-19 vaccine.

  • 11:33 IST: Asian markets are trading mixed as investors analyse Biden's rescue package. Shares of Xiaomi plunged after Trump blacklisted the company for alleged Chinese military ties. US markets closed slightly lower even after Initial jobless claims spiked as they awaited details of Biden's big economic relief package.

    European markets closed higher as hopes for a big economic stimulus from incoming US President and on the back of positive news on Covid-19 vaccine.

  • Jan 15, 2021 11:11 (IST)

    Top losers and gainers today

    UltraTech Cement, followed by Tech Mahindra, ITC, M&M, Maruti, HUL, Infosys, Asian Paints, IndusInd Bank, Dr Reddy's, HCL Tech and TCS were among the top losers today. On the other hand, Bharti Airtel, Bajaj Finance, Bajaj Auto, RIL, NTPC and SBI were among the gainers.

     

  • 11:11 IST: UltraTech Cement, followed by Tech Mahindra, ITC, M&M, Maruti, HUL, Infosys, Asian Paints, IndusInd Bank, Dr Reddy's, HCL Tech and TCS were among the top losers today. On the other hand, Bharti Airtel, Bajaj Finance, Bajaj Auto, RIL, NTPC and SBI were among the gainers.

     

  • Jan 15, 2021 11:06 (IST)

    Market update

    Market indices reversed trend and fell by half a percent on Friday, amid weak global equities. Sensex was falling by 245 points to 49,335 and Nifty traded 57 points lower at 14,538.

  • 11:06 IST: Market indices reversed trend and fell by half a percent on Friday, amid weak global equities. Sensex was falling by 245 points to 49,335 and Nifty traded 57 points lower at 14,538.

  • Jan 15, 2021 11:03 (IST)

    Joe Biden announces $1.9 trillion plan to stem Covid-19, steady economy

    US President-elect Joe Biden is unveiling a $1.9 trillion coronavirus plan to turn the tide on the pandemic, speeding up the vaccine roll-out and providing financial help to individuals, states and local governments and businesses struggling with the prolonged economic fallout.

    Called the "American Rescue Plan," the legislative proposal would meet Biden's goal of administering 100 million vaccines by the 100th day of his administration, while advancing his objective of reopening most schools by the spring. On a parallel track, it would deliver another round of aid to stabilise the economy while the public health effort seeks the upper hand on the pandemic, said aides who described the plan ahead of a speech by Biden on Thursday evening.

    Joe Biden announces $1.9 trillion plan to stem Covid-19, steady economy

     

  • 11:03 IST: US President-elect Joe Biden is unveiling a $1.9 trillion coronavirus plan to turn the tide on the pandemic, speeding up the vaccine roll-out and providing financial help to individuals, states and local governments and businesses struggling with the prolonged economic fallout.

    Called the "American Rescue Plan," the legislative proposal would meet Biden's goal of administering 100 million vaccines by the 100th day of his administration, while advancing his objective of reopening most schools by the spring. On a parallel track, it would deliver another round of aid to stabilise the economy while the public health effort seeks the upper hand on the pandemic, said aides who described the plan ahead of a speech by Biden on Thursday evening.

    Joe Biden announces $1.9 trillion plan to stem Covid-19, steady economy

     

  • Jan 15, 2021 10:53 (IST)

    Global markets today

    Overseas, Asian stocks were mixed on Friday as investors regionally reacted to the release of U.S. President-elect Joe Biden's $1.9 trillion coronavirus rescue package.

    In US, stocks fell slightly on Thursday, with tech shares declining, as traders awaited the unveiling of a potentially big economic stimulus package. Investors kept an eye on Federal Reserve Chair Jerome Powell, who said the U.S. central bank is not raising interest rates anytime soon.

    Meanwhile, U.S. President Donald Trump's administration placed sanctions on Chinese officials and companies for alleged misdeeds and imposing an investment ban on nine more firms.

    Donald Trump also became the first president in U.S. history to be impeached twice when the House voted 232-197 on Wednesday to charge him with inciting riots at the Capitol.



     

  • 10:53 IST: Overseas, Asian stocks were mixed on Friday as investors regionally reacted to the release of U.S. President-elect Joe Biden's $1.9 trillion coronavirus rescue package.

    In US, stocks fell slightly on Thursday, with tech shares declining, as traders awaited the unveiling of a potentially big economic stimulus package. Investors kept an eye on Federal Reserve Chair Jerome Powell, who said the U.S. central bank is not raising interest rates anytime soon.

    Meanwhile, U.S. President Donald Trump's administration placed sanctions on Chinese officials and companies for alleged misdeeds and imposing an investment ban on nine more firms.

    Donald Trump also became the first president in U.S. history to be impeached twice when the House voted 232-197 on Wednesday to charge him with inciting riots at the Capitol.



     

  • Jan 15, 2021 10:42 (IST)

    YES Bank stock continues falling for third day



    Shares of private lender YES Bank were trading 1% lower in Friday's volatile session, in line with BSE private banking index, that was down 0.15%.
     
    Falling for the third straight session, stock of YES Bank opened at yesterday's close of Rs 18.20 today, also its day's high. Later the stock fell to the day's low of Rs 17.60, down 1.4% against the last close of Rs 18.05. The stock rose to a high of Rs 17.90 on BSE in early session.

    Yesterday, YES Bank stock closed flat at Rs 17.85.

    However, YES Bank stock is trading higher than 50, and 100-day moving averages but lower than 5, 20 and 200-day moving averages.

    YES Bank share falls for third session amid volatile market

  • 10:42 IST:

    Shares of private lender YES Bank were trading 1% lower in Friday's volatile session, in line with BSE private banking index, that was down 0.15%.
     
    Falling for the third straight session, stock of YES Bank opened at yesterday's close of Rs 18.20 today, also its day's high. Later the stock fell to the day's low of Rs 17.60, down 1.4% against the last close of Rs 18.05. The stock rose to a high of Rs 17.90 on BSE in early session.

    Yesterday, YES Bank stock closed flat at Rs 17.85.

    However, YES Bank stock is trading higher than 50, and 100-day moving averages but lower than 5, 20 and 200-day moving averages.

    YES Bank share falls for third session amid volatile market

  • Jan 15, 2021 10:30 (IST)

    Bharti Airtel share price gains 5%



    Share price of Bharti Airtelwere trading 5% higher on January 15 after the MSCI Global Standard Indexes said it will raise the weightage of the telecom operator in the February 2021 quarterly review.

    The move follows an approval to increase foreign investment limit in the telecom major to 100% from 49%.


    The telecom stock opened with a gain of 4.82% today and later touched an intraday high of Rs 610, rising 5.14% on BSE. With high volumes traded in today's session, Bharti Airtel share price is trading higher than 5, 20, 50, 100 and 200-day moving averages. Meanwhile, 'Telecom - Provider' sector has gained by 3.31% on BSE. The stock price of Bharti Airtel has risen 11% in one week, 19% in one month, 28% year-to-date and 28% in one year.

    Bharti Airtel share rises 5% as MSCI to raise weightage in February

  • 10:30 IST:

    Share price of Bharti Airtelwere trading 5% higher on January 15 after the MSCI Global Standard Indexes said it will raise the weightage of the telecom operator in the February 2021 quarterly review.

    The move follows an approval to increase foreign investment limit in the telecom major to 100% from 49%.


    The telecom stock opened with a gain of 4.82% today and later touched an intraday high of Rs 610, rising 5.14% on BSE. With high volumes traded in today's session, Bharti Airtel share price is trading higher than 5, 20, 50, 100 and 200-day moving averages. Meanwhile, 'Telecom - Provider' sector has gained by 3.31% on BSE. The stock price of Bharti Airtel has risen 11% in one week, 19% in one month, 28% year-to-date and 28% in one year.

    Bharti Airtel share rises 5% as MSCI to raise weightage in February

  • Jan 15, 2021 10:23 (IST)

    Jhunjhunwala trims stakes in two Tata group stocks

    Ace investor Rakesh Jhunjhunwala has cut stake in two Tata group companies - Titan Company and Rallis India - in which he and his wife hold sizeable shares. The big bull of the Indian stock market has booked profit of around Rs 290 crore by selling shares in these two companies.

    As per December shareholding data released by Titan, Jhunjhunwala sold 18 lakh shares of the company and now holds 3,75,10,395 shares, or 4.23 per cent stake in the company. Rakesh Jhunjhunwala and wife Rekha Jhunjhunwala together owned 5.52 per cent shares in the Titan Company at the end of September quarter. While Rakesh owned 4.43 per cent shares in gems and jewellery maker, Rekha held 1.09 per cent in the company. Based on the current market price, the value of 18 lakh shares of Titan that he sold amounts to Rs 268 crore.

    Rakesh Jhunjhunwala trims stakes in two Tata group stocks

  • 10:23 IST: Ace investor Rakesh Jhunjhunwala has cut stake in two Tata group companies - Titan Company and Rallis India - in which he and his wife hold sizeable shares. The big bull of the Indian stock market has booked profit of around Rs 290 crore by selling shares in these two companies.

    As per December shareholding data released by Titan, Jhunjhunwala sold 18 lakh shares of the company and now holds 3,75,10,395 shares, or 4.23 per cent stake in the company. Rakesh Jhunjhunwala and wife Rekha Jhunjhunwala together owned 5.52 per cent shares in the Titan Company at the end of September quarter. While Rakesh owned 4.43 per cent shares in gems and jewellery maker, Rekha held 1.09 per cent in the company. Based on the current market price, the value of 18 lakh shares of Titan that he sold amounts to Rs 268 crore.

    Rakesh Jhunjhunwala trims stakes in two Tata group stocks

  • Jan 15, 2021 10:15 (IST)

    Stocks in news: Airtel, SAIL, L&T Infotech, Bharat Dynamics, Strides Pharma, IRCON



    Stocks to watch today on January 15: Airtel, SAIL, L&T Infotech, Bharat Dynamics, Strides Pharma, IRCON among others are the top stocks to watch out for in Friday's trading session

    Stocks in news: Airtel, SAIL, L&T Infotech, Bharat Dynamics, Strides Pharma, IRCON

  • 10:15 IST:

    Stocks to watch today on January 15: Airtel, SAIL, L&T Infotech, Bharat Dynamics, Strides Pharma, IRCON among others are the top stocks to watch out for in Friday's trading session

    Stocks in news: Airtel, SAIL, L&T Infotech, Bharat Dynamics, Strides Pharma, IRCON

  • Jan 15, 2021 10:11 (IST)

    Power Finance Corp to launch Rs 5,000 crore bond sale

    State-owned Power Finance Corporation (PFC) will launch its maiden public bond sale to raise Rs 5,000 crore by issuing secured, redeemable non-convertible debentures (NCDs) to retail investors on January 15, 2021. The allotment will be done on first-come, first-served basis.

    The base issue size is Rs 500 crore with an option to retain oversubscription of up to Rs 4,500 crore, aggregating up to 5,000 crores which is within the shelf limit of Rs 10,000 crore, the power sector lender said.

    The NCDs are of face value of Rs 1,000 each. The Tranche I Issue is scheduled to close on January 29, 2021, with an option of early closure or extension as decided by PFC's board of directors or a duly constituted committee thereof.

    Power Finance Corp to launch Rs 5,000 crore bond sale on Jan 15

  • 10:11 IST: State-owned Power Finance Corporation (PFC) will launch its maiden public bond sale to raise Rs 5,000 crore by issuing secured, redeemable non-convertible debentures (NCDs) to retail investors on January 15, 2021. The allotment will be done on first-come, first-served basis.

    The base issue size is Rs 500 crore with an option to retain oversubscription of up to Rs 4,500 crore, aggregating up to 5,000 crores which is within the shelf limit of Rs 10,000 crore, the power sector lender said.

    The NCDs are of face value of Rs 1,000 each. The Tranche I Issue is scheduled to close on January 29, 2021, with an option of early closure or extension as decided by PFC's board of directors or a duly constituted committee thereof.

    Power Finance Corp to launch Rs 5,000 crore bond sale on Jan 15

  • Jan 15, 2021 10:08 (IST)

    Market outlook at opening bell

     On markets opening --Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments said,"The resistance patch of 14600-14650 has been very effective. The markets are finding it difficult to move up. We need to get past 14700 in order to resume this uptrend. If the market manages to cross that level, the index should go up to levels closer to 15000. On the flip side if we break the support of 14350, we can drop to 14000."

     

  • 10:08 IST:  On markets opening --Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments said,"The resistance patch of 14600-14650 has been very effective. The markets are finding it difficult to move up. We need to get past 14700 in order to resume this uptrend. If the market manages to cross that level, the index should go up to levels closer to 15000. On the flip side if we break the support of 14350, we can drop to 14000."

     

  • Jan 15, 2021 09:35 (IST)

    Currency Outlook

    Kshitij Purohit, Product Manager, Currency & Commodities at CapitalVia Global Research said," The Indian Rupee appreciated against the U.S. currency on expectations of large U.S stimulus under new president. Treasury yields come up on hope of new stimulus package. Benchmark 10-year Treasury notes last fell 12/32 in price to yield 1.1292%, from 1.088%, Technically, the USDINR Spot open gap down and traded negative throughout the day. It is sustaining below 73.20 levels indicating a negative momentum may continue in the today’s session. Support is at 72.95 – 72.80 levels for the spot pair. Resistance for the pair is 73.20. USDINR Jan future will trade in the range of 73.05 – 73.25 levels."

  • 09:35 IST: Kshitij Purohit, Product Manager, Currency & Commodities at CapitalVia Global Research said," The Indian Rupee appreciated against the U.S. currency on expectations of large U.S stimulus under new president. Treasury yields come up on hope of new stimulus package. Benchmark 10-year Treasury notes last fell 12/32 in price to yield 1.1292%, from 1.088%, Technically, the USDINR Spot open gap down and traded negative throughout the day. It is sustaining below 73.20 levels indicating a negative momentum may continue in the today’s session. Support is at 72.95 – 72.80 levels for the spot pair. Resistance for the pair is 73.20. USDINR Jan future will trade in the range of 73.05 – 73.25 levels."

  • Jan 15, 2021 09:19 (IST)

    Opening session

    Market indices opened on a bullish note on Friday, amid positive global equities. SGX Nifty on the Singapore Exchange was rising by 10 points, indicating a weak start in domestic grounds today. Sensex was rising 13 points higher at 49,597 and Nifty gained by 19  points to 14,615.

  • 09:19 IST: Market indices opened on a bullish note on Friday, amid positive global equities. SGX Nifty on the Singapore Exchange was rising by 10 points, indicating a weak start in domestic grounds today. Sensex was rising 13 points higher at 49,597 and Nifty gained by 19  points to 14,615.

  • Jan 15, 2021 09:12 (IST)

    Budget session



    The Union Budget 2021-22 would be presented on February 1. The Parliament session would be starting from January 29, and would be held in two phases. Subject to exigencies of government business, the session is likely to conclude on 8 April 2021.

  • 09:12 IST:

    The Union Budget 2021-22 would be presented on February 1. The Parliament session would be starting from January 29, and would be held in two phases. Subject to exigencies of government business, the session is likely to conclude on 8 April 2021.

  • Jan 15, 2021 09:12 (IST)

    Nifty technical outlook

    Reliance Research said in its note today," NSE-NIFTY remained sideways during the day and finished trade with minor gain. Yesterday, mix trend observed across the sectors and overall market breadth remained negative. Major technical indicators on the near-term timeframe chart were negatively poised. In case the index fails to attract fresh buying interest, near-term decline or such kind of consolidation cannot be ruled out. On the lower side, the index will continue to find support at 14,250 level initially and 14,100 mark subsequently. However on the other hand, its life-time-high of 14,653-level will cap the up-move.

    As for the day, support is placed at around 14,505 and then at 14,415 levels, while resistance is observed at 14,652 and then at 14,708 levels."

  • 09:12 IST: Reliance Research said in its note today," NSE-NIFTY remained sideways during the day and finished trade with minor gain. Yesterday, mix trend observed across the sectors and overall market breadth remained negative. Major technical indicators on the near-term timeframe chart were negatively poised. In case the index fails to attract fresh buying interest, near-term decline or such kind of consolidation cannot be ruled out. On the lower side, the index will continue to find support at 14,250 level initially and 14,100 mark subsequently. However on the other hand, its life-time-high of 14,653-level will cap the up-move.

    As for the day, support is placed at around 14,505 and then at 14,415 levels, while resistance is observed at 14,652 and then at 14,708 levels."

  • Jan 15, 2021 09:07 (IST)

    FII action

    Foreign portfolio investors (FPIs) bought shares worth Rs 1,076.62 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 188.10 crore in the Indian equity market on 14 January, provisional data showed.


     

  • 09:07 IST: Foreign portfolio investors (FPIs) bought shares worth Rs 1,076.62 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 188.10 crore in the Indian equity market on 14 January, provisional data showed.


     

  • Jan 15, 2021 09:07 (IST)

    Earnings today

     HCL Tech, PVR: HCL Tech, PVR, Shoppers Stop, L&T Finance Holdings, Hathway Cable and Aditya Birla Money are among the top companies that will be reporting their Q2 earnings

  • 09:07 IST:  HCL Tech, PVR: HCL Tech, PVR, Shoppers Stop, L&T Finance Holdings, Hathway Cable and Aditya Birla Money are among the top companies that will be reporting their Q2 earnings

  • Jan 15, 2021 09:06 (IST)

    Rupee closing

    On thee currency front, Indian rupee, appreciated by 11 paise to end at 73.04 per dollar on Thursday, tracking gains in domestic equities, continued FPI inflows  and weak American currency.

  • 09:06 IST: On thee currency front, Indian rupee, appreciated by 11 paise to end at 73.04 per dollar on Thursday, tracking gains in domestic equities, continued FPI inflows  and weak American currency.

  • Jan 15, 2021 09:06 (IST)

    Closing

    After a volatile trading session, market indices reversed trend and closed  at record highs on Thursday, tracking cues from mixed global equities. Sensex ended 91 points higher at 49,584 and Nifty gained 30 points to 14,595.

  • 09:06 IST: After a volatile trading session, market indices reversed trend and closed  at record highs on Thursday, tracking cues from mixed global equities. Sensex ended 91 points higher at 49,584 and Nifty gained 30 points to 14,595.