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Share Market Highlights: Sensex ends 937 points lower, Nifty at 13,967; Axis Bank, IndusInd Bank top losers

January 27,2021 15:56 IST

Sensex, Nifty Highlights on January 27: Market indices continued falling for the fourth session on Wednesday ahead of the Union Budget 2021, and closed 1.9% lower each. In line with weak global equities, Sensex ended 937 points lower at 47,409 and Nifty fell by 271 points to 13,967. With today's fall, the equity market has turned negative year-to-date, as Sensex and Nifty fell by 0.71 and 0.16%. Meanwhile, December quarterly earnings announcements by Axis Bank, Hindustan Unilever, Bank of Baroda, Canara Bank, Marico, Emami will also set the tone for the stock market today. Yesterday, markets were closed on account of Republic Day. On Monday, equity indices closed 1% lower in a volatile trading session. Sensex ended 530 points lower at 48,347 and Nifty lost 133 points to 14,238.

 

 

 

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

 

 

 

Check Latest Updates

  • India Stock Market News Updates Today: Axis Bank, Hindustan Unilever, Bank of Baroda, Canara Bank, Marico, Emami are among the top companies that will be reporting their Q3 earnings
  • Jan 27, 2021 15:51 (IST)

    Market at closing session

    Market indices continued falling for the fourth session on Wednesday ahead of the Union Budget 2021, and closed 1.9% lower each. In line with weak global equities, Sensex ended 937 points lower at 47,409 and Nifty fell by 271 points to 13,967.

    Yesterday, markets were closed on account of Republic Day. On Monday, equity indices closed 1% lower in a volatile trading session. Sensex ended 530 points lower at 48,347 and Nifty lost 133 points to 14,238. With today's fall, the equity market has turned negative year-to-date, as Sensex and Nifty fell by 0.71 and 0.16%.

  • 15:51 IST: Market indices continued falling for the fourth session on Wednesday ahead of the Union Budget 2021, and closed 1.9% lower each. In line with weak global equities, Sensex ended 937 points lower at 47,409 and Nifty fell by 271 points to 13,967.

    Yesterday, markets were closed on account of Republic Day. On Monday, equity indices closed 1% lower in a volatile trading session. Sensex ended 530 points lower at 48,347 and Nifty lost 133 points to 14,238. With today's fall, the equity market has turned negative year-to-date, as Sensex and Nifty fell by 0.71 and 0.16%.

  • Jan 27, 2021 15:46 (IST)

    Sensex plunges over 1,000 points on profit-booking

    Sensex fell over 1,000 points in afternoon trade today amid across the board selling, especially in market heavyweights.The sell-off came a day ahead of January derivatives expiry on Thursday. On Sensex, top losers were Dr Reddy's, IndusInd  Bank and Axis Bank falling up to 4.41%.

    Of 30 Sensex stocks, 25 were trading in the red.

    With today's correction, Sensex and Nifty have turned negative on a year-to-date basis. Market cap on BSE fell to Rs 189.27 lakh crore.

    Sensex plunges over 1,000 points on profit-booking ahead of Union Budget

  • 15:46 IST: Sensex fell over 1,000 points in afternoon trade today amid across the board selling, especially in market heavyweights.The sell-off came a day ahead of January derivatives expiry on Thursday. On Sensex, top losers were Dr Reddy's, IndusInd  Bank and Axis Bank falling up to 4.41%.

    Of 30 Sensex stocks, 25 were trading in the red.

    With today's correction, Sensex and Nifty have turned negative on a year-to-date basis. Market cap on BSE fell to Rs 189.27 lakh crore.

    Sensex plunges over 1,000 points on profit-booking ahead of Union Budget

  • Jan 27, 2021 15:45 (IST)

    Axis Bank share falls over 4% ahead of Q3 earnings

    Axis Bank share fell over 4% ahead of the private sector lender's Q3 earnings set to be announced later in the day. Share of Axis Bank lost up to 4.33% to Rs 630.1 against previous close of Rs 658.60 on BSE.

    Axis Bank share trades higher than 50 day, 100 day and 200 day moving averages but lower than 5 day and 20 day moving averages.

    The stock has lost 14.65% in one year but gained 1.81% since the beginning of this year.

    At 2: 25 pm, the stock was trading 4.25% or Rs 28 lower at Rs 630.80. The lender is expected to post a healthy growth in Q3 profit.

    Axis Bank share falls over 4% ahead of Q3 earnings; here's what to expect

  • 15:45 IST: Axis Bank share fell over 4% ahead of the private sector lender's Q3 earnings set to be announced later in the day. Share of Axis Bank lost up to 4.33% to Rs 630.1 against previous close of Rs 658.60 on BSE.

    Axis Bank share trades higher than 50 day, 100 day and 200 day moving averages but lower than 5 day and 20 day moving averages.

    The stock has lost 14.65% in one year but gained 1.81% since the beginning of this year.

    At 2: 25 pm, the stock was trading 4.25% or Rs 28 lower at Rs 630.80. The lender is expected to post a healthy growth in Q3 profit.

    Axis Bank share falls over 4% ahead of Q3 earnings; here's what to expect

  • Jan 27, 2021 15:42 (IST)

    Closing session outlook

    Ashis Biswas, Head of Technical Research at CapitalVia Global Research Limited - Investment Advisor said," The market witnessed a strong downward trend and a decisive breakdown below the support level around the Nifty 50 Index level of 14000. While a recovery above 14000 is the key to change the short-term bearish outlook. Market is sustaining below this level to gain downside momentum and open the gate for a movement until 13670. We have observed the momentum indicators like RSI, MACD to turn negative and market breadth to deteriorate significantly, further strengthening the view of a short-term bearish outlook."

     

  • 15:42 IST: Ashis Biswas, Head of Technical Research at CapitalVia Global Research Limited - Investment Advisor said," The market witnessed a strong downward trend and a decisive breakdown below the support level around the Nifty 50 Index level of 14000. While a recovery above 14000 is the key to change the short-term bearish outlook. Market is sustaining below this level to gain downside momentum and open the gate for a movement until 13670. We have observed the momentum indicators like RSI, MACD to turn negative and market breadth to deteriorate significantly, further strengthening the view of a short-term bearish outlook."

     

  • Jan 27, 2021 15:41 (IST)

    Closing session outlook

    S Ranganathan, Head of Research at LKP Securities said,"Markets witnessed a 2% cut in Indices today even as the IMF put out an impressive 11.5% growth for India in 2021, the highest for any major economy globally. Autos, Metals & Financials bore the brunt of selling as we saw unwinding ahead of the Union Budget. Absence of FII buying this week too added to the nervousness in Wednesday's afternoon trade."

  • 15:41 IST: S Ranganathan, Head of Research at LKP Securities said,"Markets witnessed a 2% cut in Indices today even as the IMF put out an impressive 11.5% growth for India in 2021, the highest for any major economy globally. Autos, Metals & Financials bore the brunt of selling as we saw unwinding ahead of the Union Budget. Absence of FII buying this week too added to the nervousness in Wednesday's afternoon trade."

  • Jan 27, 2021 15:13 (IST)

    Oberoi Realty Q3 outlook and rating



    Manish Agrawal from JMFL said," Oberoi Realty (OBER) reported a strong quarter as residential sales picked up significantly on the back of i) stamp duty cut, ii) subvention schemes, iii) pent-up demand and iv) low home loan rates. In residential business, net sales came in at INR 9.7bn (2.2x YoY; 3.0x QoQ) and strong traction was seen across micro-markets (Borivali, Goregaon and Mulund). However, Three Sixty West, Worli remained stable QoQ but management expects to see traction in the coming quarters (post-completion). Further, project launches are also planned across i) Goregaon (1.8mf), ii) Borivali (2.5msf) and iii) Thane (1msf) over the coming quarters. For the annuity assets, the proposed platform deal with a strategic partner has been put on-hold as the management has decided against diluting stake. Going forward, we believe OBER remains well placed to benefit from pickup in residential segment and simultaneous scale-up of the rental income. Maintain BUY with a Mar'22 TP of INR 580. Key risks: Slowdown in residential segment and delay in annuity assets."

  • 15:13 IST:

    Manish Agrawal from JMFL said," Oberoi Realty (OBER) reported a strong quarter as residential sales picked up significantly on the back of i) stamp duty cut, ii) subvention schemes, iii) pent-up demand and iv) low home loan rates. In residential business, net sales came in at INR 9.7bn (2.2x YoY; 3.0x QoQ) and strong traction was seen across micro-markets (Borivali, Goregaon and Mulund). However, Three Sixty West, Worli remained stable QoQ but management expects to see traction in the coming quarters (post-completion). Further, project launches are also planned across i) Goregaon (1.8mf), ii) Borivali (2.5msf) and iii) Thane (1msf) over the coming quarters. For the annuity assets, the proposed platform deal with a strategic partner has been put on-hold as the management has decided against diluting stake. Going forward, we believe OBER remains well placed to benefit from pickup in residential segment and simultaneous scale-up of the rental income. Maintain BUY with a Mar'22 TP of INR 580. Key risks: Slowdown in residential segment and delay in annuity assets."

  • Jan 27, 2021 14:35 (IST)

    Crompton Q3 outlook and rating




    Achal Lohade from JMFL said," Crompton Consumer Electricals (Crompton) reported 3QFY21 PAT of INR 1.5bn (14%/15% above JMFe/Consensus). The demand momentum to remain strong going ahead with revival in construction led demand. We tweak our FY21-FY23 EPS estimates by 2-4% to reflect 3QFY21 performance and management commentary. We value Crompton at 40x (vs. 35x earlier) Mar'23 EPS to arrive at Mar'22 TP of INR 500. Maintain BUY. Key risk to our call: slower-than-expected recovery."

     

  • 14:35 IST:


    Achal Lohade from JMFL said," Crompton Consumer Electricals (Crompton) reported 3QFY21 PAT of INR 1.5bn (14%/15% above JMFe/Consensus). The demand momentum to remain strong going ahead with revival in construction led demand. We tweak our FY21-FY23 EPS estimates by 2-4% to reflect 3QFY21 performance and management commentary. We value Crompton at 40x (vs. 35x earlier) Mar'23 EPS to arrive at Mar'22 TP of INR 500. Maintain BUY. Key risk to our call: slower-than-expected recovery."

     

  • Jan 27, 2021 14:16 (IST)

    Market update

    Market indices reversed trend after the opening bell and fell for the fourth session on Wednesday, amid mixed global equities. Sensex was trading 900 points lower at 47,440 and Nifty fell by 250 points to 13,998.

  • 14:16 IST: Market indices reversed trend after the opening bell and fell for the fourth session on Wednesday, amid mixed global equities. Sensex was trading 900 points lower at 47,440 and Nifty fell by 250 points to 13,998.

  • Jan 27, 2021 14:13 (IST)

    L&T Q3 outlook

    Subhadip Mitra from JM Financial Institutional Securities said," L&T delivered 5% YoY growth in 3Q FY21 consol PAT at INR 22.5bn (doubled QoQ) led by 15% QoQ growth in execution and 90% YoY growth in other income (from E&A sale proceed cash). With labour strength bouncing back to pre-Covid levels of 265,000 along with favourable supply chain, the resultant execution recovery is visible across segments in 3Q. However shutdown of Hyderabad Metro /lower PLF at Rajpura power plant partly offset the QoQ execution recovery. Order inflows touched a high of INR 732bn on receipt of High Speed Rail project (~INR 320bn) resulting in record OB of INR 3.31trn (+8% YoY; 3.2x FY20 Ex Services sales).

    As highlighted in our earlier report (L&T - Concerns overdone!), we find past concerns fading and execution recovery imminent from 4Q, on the back of peak OB position / improved labour availability / stable working capital - all despite COIVD challenges. Given these triggers, we find L&T inexpensive at 12x core E&C FY22 EPS (vs. long-term avg of 21x). We reiterate our BUY rating with a revised TP of INR 1,575."

     

  • 14:13 IST: Subhadip Mitra from JM Financial Institutional Securities said," L&T delivered 5% YoY growth in 3Q FY21 consol PAT at INR 22.5bn (doubled QoQ) led by 15% QoQ growth in execution and 90% YoY growth in other income (from E&A sale proceed cash). With labour strength bouncing back to pre-Covid levels of 265,000 along with favourable supply chain, the resultant execution recovery is visible across segments in 3Q. However shutdown of Hyderabad Metro /lower PLF at Rajpura power plant partly offset the QoQ execution recovery. Order inflows touched a high of INR 732bn on receipt of High Speed Rail project (~INR 320bn) resulting in record OB of INR 3.31trn (+8% YoY; 3.2x FY20 Ex Services sales).

    As highlighted in our earlier report (L&T - Concerns overdone!), we find past concerns fading and execution recovery imminent from 4Q, on the back of peak OB position / improved labour availability / stable working capital - all despite COIVD challenges. Given these triggers, we find L&T inexpensive at 12x core E&C FY22 EPS (vs. long-term avg of 21x). We reiterate our BUY rating with a revised TP of INR 1,575."

     

  • Jan 27, 2021 13:48 (IST)

    Market technical outlook

     Gaurav Garg, Head Research, CapitalVia Global Research Limited - Investment Advisor said,"The market opened on a flat to weaker note at 14237.95 and made a low of 14070.70. Markets are trading negatively because of the increase in coronavirus concerns around the globe, also delay in the vaccine shipments are surmounting to the already increased concerns. US markets also ended on a negative note over the uncertainty on the additional stimulus that were expected of the new president and the concerns over quarterly earnings of the companies that are far below expectations. The IMF on Tuesday projected an impressive 11.5 percent growth rate for India in 2021, making the country the only major economy of the world to register double-digit growth this year amidst the coronavirus pandemic. This projection could help the Indian market attract more foreign investors which could eventually help the economy to recover even faster."

  • 13:48 IST:  Gaurav Garg, Head Research, CapitalVia Global Research Limited - Investment Advisor said,"The market opened on a flat to weaker note at 14237.95 and made a low of 14070.70. Markets are trading negatively because of the increase in coronavirus concerns around the globe, also delay in the vaccine shipments are surmounting to the already increased concerns. US markets also ended on a negative note over the uncertainty on the additional stimulus that were expected of the new president and the concerns over quarterly earnings of the companies that are far below expectations. The IMF on Tuesday projected an impressive 11.5 percent growth rate for India in 2021, making the country the only major economy of the world to register double-digit growth this year amidst the coronavirus pandemic. This projection could help the Indian market attract more foreign investors which could eventually help the economy to recover even faster."

  • Jan 27, 2021 13:13 (IST)

    Reliance Industries share falls over 9%

    Share of Reliance Industries Limited (RIL) fell over 2% in early trade amid profit booking after Q3 earnings and on reports that E-commerce company Amazon has moved the Delhi High Court against Future Group founder and CEO Kishore Biyani.
    ADVERTISING

    Amazon has sought seizure of assets of Biyani and his detention in prison for violating Singapore International Arbitration Centre's award by going ahead with its deal with Reliance Industries Ltd (RIL).

    RIL share plunged 2.43% to Rs 1892.55 against previous close of Rs 1939.70 on BSE.

    RIL stock has lost 9.11% in the last 3 days.

    Reliance Industries share falls over 9% in three sessions, here's why

  • 13:13 IST: Share of Reliance Industries Limited (RIL) fell over 2% in early trade amid profit booking after Q3 earnings and on reports that E-commerce company Amazon has moved the Delhi High Court against Future Group founder and CEO Kishore Biyani.
    ADVERTISING

    Amazon has sought seizure of assets of Biyani and his detention in prison for violating Singapore International Arbitration Centre's award by going ahead with its deal with Reliance Industries Ltd (RIL).

    RIL share plunged 2.43% to Rs 1892.55 against previous close of Rs 1939.70 on BSE.

    RIL stock has lost 9.11% in the last 3 days.

    Reliance Industries share falls over 9% in three sessions, here's why

  • Jan 27, 2021 13:03 (IST)

    JK Tyre & Industries outlook- Buy rating



    Reliance Research said in its note today,"JK Tyre & Industries (JKT), which enjoys a strong presence in M&HCV and PV segment, would continue to get benefitted from ongoing surge in replacement demand. Moreover, recently the OEMs have also started witnessing steady volume improvement, which augurs well for the company. JKT is focusing on improvement in domestic performance with introduction of new products in truck/bus radial and light truck radials segments. We expect strong replacement demand to continue in 2HFY21E, while volume pick-up in 2W/3W tyres with new capacity and recovery in M&HCV sales would improve its profitability. Post strong 3QFY21 result and recent correction in stock price, the stock has a strong potential for meaningful upside from the current level. We recommend BUY for a time horizon of 15 days with a Target Price of Rs150 and Stop Loss of Rs124."

     

  • 13:03 IST:

    Reliance Research said in its note today,"JK Tyre & Industries (JKT), which enjoys a strong presence in M&HCV and PV segment, would continue to get benefitted from ongoing surge in replacement demand. Moreover, recently the OEMs have also started witnessing steady volume improvement, which augurs well for the company. JKT is focusing on improvement in domestic performance with introduction of new products in truck/bus radial and light truck radials segments. We expect strong replacement demand to continue in 2HFY21E, while volume pick-up in 2W/3W tyres with new capacity and recovery in M&HCV sales would improve its profitability. Post strong 3QFY21 result and recent correction in stock price, the stock has a strong potential for meaningful upside from the current level. We recommend BUY for a time horizon of 15 days with a Target Price of Rs150 and Stop Loss of Rs124."

     

  • Jan 27, 2021 12:55 (IST)

    YES Bank share falls over 3%



    YES Bank share declined 3.6% on Wednesday's early trade, in line with private banking index and broader indices Sensex and Nifty, that fell over 1%.

    The lender's shares have been falling since the company declared results for the quarter ended December 31, 2020. In the last 5 days, the stock has eroded 11.45% value.

    Stock of YES Bank opened at Rs 16.25, its day's high in early session. Later, the stock fell 3.6% to day's low of Rs 15.70 as against the last close of Rs 16.30.

  • 12:55 IST:

    YES Bank share declined 3.6% on Wednesday's early trade, in line with private banking index and broader indices Sensex and Nifty, that fell over 1%.

    The lender's shares have been falling since the company declared results for the quarter ended December 31, 2020. In the last 5 days, the stock has eroded 11.45% value.

    Stock of YES Bank opened at Rs 16.25, its day's high in early session. Later, the stock fell 3.6% to day's low of Rs 15.70 as against the last close of Rs 16.30.

  • Jan 27, 2021 12:44 (IST)

    Market update

    Market indices reversed trend after the opening bell and fell for the fourth session on Wednesday, amid mixed global equities. Sensex was trading 595 points lower at 47,753 and Nifty fell by 165 points to 14,070.

  • 12:44 IST: Market indices reversed trend after the opening bell and fell for the fourth session on Wednesday, amid mixed global equities. Sensex was trading 595 points lower at 47,753 and Nifty fell by 165 points to 14,070.

  • Jan 27, 2021 12:42 (IST)

    Morning session view of the market

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

    "IMF revising global GDP growth upwards to 5.5% and India's growth to 11.5% in 2021 is good news. The sharp turnaround in growth will ensure that the current trend of impressive corporate results will sustain. On the negative side, we had two consecutive days of FII selling in the market. It appears that the market is a bit apprehensive of some budget tax proposals which may not be market-friendly. We don't know. So it makes sense to wait for the budget and then take a call on investment strategy. L&T's results, particularly the order book, bodes well not only for the company but also for the economy"

  • 12:42 IST: Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

    "IMF revising global GDP growth upwards to 5.5% and India's growth to 11.5% in 2021 is good news. The sharp turnaround in growth will ensure that the current trend of impressive corporate results will sustain. On the negative side, we had two consecutive days of FII selling in the market. It appears that the market is a bit apprehensive of some budget tax proposals which may not be market-friendly. We don't know. So it makes sense to wait for the budget and then take a call on investment strategy. L&T's results, particularly the order book, bodes well not only for the company but also for the economy"

  • Jan 27, 2021 12:35 (IST)

    Market outlook for today

    YES Securities in its morning report said,"The market mood has clearly turned sour in last two weeks. Twice Nifty has reversed from four-digit Gann number of 1464(0). Monday's decline of 0.9%, has noticeably relinquished gains from recent low of 14,223. Price volatility has shot up ahead of the Union Budget. BankNifty tried putting in some fight in the first half, but eventually lost the morning impetus and closed flat. Yet another bearish candle has re-affirmed overhead resistance around 14,600 zone for the near term. Nifty' advance-decline ratio favored bears with 31 of its components settling lower. In Monday's trade, it marked a low of 14,219, completing 360 degree move on the downside from the peak of 14,754. Lack of bull momentum at the top has caused the recent quandary. Recent outperformer i.e. RIL, Auto and IT stocks were among the chief architects of decline. BankNifty closed near day's low; its recent price structure shows whipsaw moves and inability to withstand above mid-point of the three-digit Gan channel i.e. 325(00).

    S&P, Nasdaq slipped from record closing levels ahead of a policy announcement from the Fed. Meanwhile, the IMF raised its forecast for global growth in 2021. Back home, price volatility has shot up ahead of the Budget. Staying light ahead of the event appears to be an ideal approach."

  • 12:35 IST: YES Securities in its morning report said,"The market mood has clearly turned sour in last two weeks. Twice Nifty has reversed from four-digit Gann number of 1464(0). Monday's decline of 0.9%, has noticeably relinquished gains from recent low of 14,223. Price volatility has shot up ahead of the Union Budget. BankNifty tried putting in some fight in the first half, but eventually lost the morning impetus and closed flat. Yet another bearish candle has re-affirmed overhead resistance around 14,600 zone for the near term. Nifty' advance-decline ratio favored bears with 31 of its components settling lower. In Monday's trade, it marked a low of 14,219, completing 360 degree move on the downside from the peak of 14,754. Lack of bull momentum at the top has caused the recent quandary. Recent outperformer i.e. RIL, Auto and IT stocks were among the chief architects of decline. BankNifty closed near day's low; its recent price structure shows whipsaw moves and inability to withstand above mid-point of the three-digit Gan channel i.e. 325(00).

    S&P, Nasdaq slipped from record closing levels ahead of a policy announcement from the Fed. Meanwhile, the IMF raised its forecast for global growth in 2021. Back home, price volatility has shot up ahead of the Budget. Staying light ahead of the event appears to be an ideal approach."

  • Jan 27, 2021 12:22 (IST)

    Rupee rises 8 paise to 72.86 per US dollar

    Indian rupee, the domestic currency appreciated by 8 paise to 72.86 per US dollar on Wednesday's opening trade, ahead of the outcome of the US central bank's meeting.


    The domestic unit opened at 72.91 at the interbank forex market, and inched 8 paise higher to 72.86 per dollar.

    On Monday, the rupee had settled flat at 72.94 against the American currency. Forex and equity markets were closed yesterday on account of Republic Day.

    Rupee rises 8 paise to 72.86 per US dollar

  • 12:22 IST: Indian rupee, the domestic currency appreciated by 8 paise to 72.86 per US dollar on Wednesday's opening trade, ahead of the outcome of the US central bank's meeting.


    The domestic unit opened at 72.91 at the interbank forex market, and inched 8 paise higher to 72.86 per dollar.

    On Monday, the rupee had settled flat at 72.94 against the American currency. Forex and equity markets were closed yesterday on account of Republic Day.

    Rupee rises 8 paise to 72.86 per US dollar

  • Jan 27, 2021 12:08 (IST)

    Key economic data

    India's gross domestic product (GDP) is expected to contract by 8% in 2020-21, according to the latest round of FICCI's Economic Outlook Survey. The annual median growth forecast by the industry body is based on responses from leading economists representing industry, banking and financial services sector. The survey was conducted in January.

    The IMF on Tuesday projected an impressive 11.5% growth rate for India in 2021, making the country the only major economy of the world to register a double-digit growth this year amidst the coronavirus pandemic. The International Monetary Fund's growth projections for India in its latest World Economic Outlook Update released on Tuesday reflected a strong rebound in the economy, which is estimated to have contracted by 8% in 2020 due to the pandemic.

  • 12:08 IST: India's gross domestic product (GDP) is expected to contract by 8% in 2020-21, according to the latest round of FICCI's Economic Outlook Survey. The annual median growth forecast by the industry body is based on responses from leading economists representing industry, banking and financial services sector. The survey was conducted in January.

    The IMF on Tuesday projected an impressive 11.5% growth rate for India in 2021, making the country the only major economy of the world to register a double-digit growth this year amidst the coronavirus pandemic. The International Monetary Fund's growth projections for India in its latest World Economic Outlook Update released on Tuesday reflected a strong rebound in the economy, which is estimated to have contracted by 8% in 2020 due to the pandemic.

  • Jan 27, 2021 11:45 (IST)

    Gold and Silver outlook

    On gold's outlook, Kshitij Purohit, Product Manager, Currency & Commodities, CapitalVia Global Research Limited said,"LBMA Gold Spot trading below $1850 levels and taking resistance of 50 days SMA placed at 1858, Rise in dollar index can drag gold down and it may trade with negative momentum. Downside strong support is $1840 - $1805 levels, Resistance is at $1875 - $1887 levels.

    MCX Gold February trading with negative momentum below 49000, Downside support for the metal is 49100 - 48870. Resistance for the metal is 49700 - 50300. Strategy for Gold 05Feb" Sell Near 49140 Stop loss 49500 Target 48600."

    On silver, he added," MCX Silver to trading near 66000 after taking the resistance of 21 Days SMA placed at 67200, support is at 66400 -65200 levels. Resistance 68400 - 69000 levels. Strategy for Silver 05 March: Sell 66700 Stop loss 67400 Target 65400.

  • 11:45 IST: On gold's outlook, Kshitij Purohit, Product Manager, Currency & Commodities, CapitalVia Global Research Limited said,"LBMA Gold Spot trading below $1850 levels and taking resistance of 50 days SMA placed at 1858, Rise in dollar index can drag gold down and it may trade with negative momentum. Downside strong support is $1840 - $1805 levels, Resistance is at $1875 - $1887 levels.

    MCX Gold February trading with negative momentum below 49000, Downside support for the metal is 49100 - 48870. Resistance for the metal is 49700 - 50300. Strategy for Gold 05Feb" Sell Near 49140 Stop loss 49500 Target 48600."

    On silver, he added," MCX Silver to trading near 66000 after taking the resistance of 21 Days SMA placed at 67200, support is at 66400 -65200 levels. Resistance 68400 - 69000 levels. Strategy for Silver 05 March: Sell 66700 Stop loss 67400 Target 65400.

  • Jan 27, 2021 11:43 (IST)

    Kotak Mahindra Bank Q3 update






    Jyoti Roy - DVP- Equity Strategist, Angel Broking said,"Kotak Mahindra Bank reported a 16.8% YoY increase in Net interest income to Rs. 4,007 crore while NIMs for the quarter stood at 4.51%. Other income for the quarter was flat YoY at Rs. 1,334 crore as fees income have normalized during the quarter. Pre provisioning profits for the quarter was up by 29% YoY to Rs. 3,083 crore due to tight cost controls. Provision for the quarter was up by 35.0% YoY to Rs. 599 crore while net profit was up by 16.2% YoY to Rs. 1,854 crore. Deposits for the quarter were up by 10.8% YoY while advances degrew by 1.2% YoY. However on a sequential basis advances registered a strong growth of 4.5% QoQ.

    Overall Kotak Mahindra Bank delivered another solid quarter of earnings growth with reported GNPA and NNPA at 2.26% and 0.50% of total advances with PCR at 78.4%. However without taking into account the forbearance provided by the Supreme Court GNPA and NNPA would have stood at 3.27% and 1.24% of advances. We expect advances growth to pick up pace from here on for the bank and maintain our positive stance on the bank from a long term perspective. However we believe that near term upsides could be capped given expensive valuations."



     

  • 11:43 IST:




    Jyoti Roy - DVP- Equity Strategist, Angel Broking said,"Kotak Mahindra Bank reported a 16.8% YoY increase in Net interest income to Rs. 4,007 crore while NIMs for the quarter stood at 4.51%. Other income for the quarter was flat YoY at Rs. 1,334 crore as fees income have normalized during the quarter. Pre provisioning profits for the quarter was up by 29% YoY to Rs. 3,083 crore due to tight cost controls. Provision for the quarter was up by 35.0% YoY to Rs. 599 crore while net profit was up by 16.2% YoY to Rs. 1,854 crore. Deposits for the quarter were up by 10.8% YoY while advances degrew by 1.2% YoY. However on a sequential basis advances registered a strong growth of 4.5% QoQ.

    Overall Kotak Mahindra Bank delivered another solid quarter of earnings growth with reported GNPA and NNPA at 2.26% and 0.50% of total advances with PCR at 78.4%. However without taking into account the forbearance provided by the Supreme Court GNPA and NNPA would have stood at 3.27% and 1.24% of advances. We expect advances growth to pick up pace from here on for the bank and maintain our positive stance on the bank from a long term perspective. However we believe that near term upsides could be capped given expensive valuations."



     

  • Jan 27, 2021 11:13 (IST)

    Gold and silver prices today

    Anuj Gupta- DVP- Commodities and Currencies Research, Angel Broking said," We have noticed profit booking in gold and silver prices ahead of a policy announcement from Federal Reserve and also fed out of expectation of U.S Stimulus plan. However increasing corona virus cases and weakness in dollar may support the Gold and Silver prices. Global coronavirus cases surpassed 100 million on Wednesday as the globe struggle with new virus variants and vaccine shortfalls.

     

    As of today Traders can go for buy in Gold at 48700 levels with the stop loss of 48400  levels for the target of 49400 levels. They can also for buy in Silver at 66000 levels with the stop loss of 65300 levels for the target of 67300 levels. We are expecting that gold may test $1900 levels and Silver may test $27 levels again soon."

  • 11:13 IST: Anuj Gupta- DVP- Commodities and Currencies Research, Angel Broking said," We have noticed profit booking in gold and silver prices ahead of a policy announcement from Federal Reserve and also fed out of expectation of U.S Stimulus plan. However increasing corona virus cases and weakness in dollar may support the Gold and Silver prices. Global coronavirus cases surpassed 100 million on Wednesday as the globe struggle with new virus variants and vaccine shortfalls.

     

    As of today Traders can go for buy in Gold at 48700 levels with the stop loss of 48400  levels for the target of 49400 levels. They can also for buy in Silver at 66000 levels with the stop loss of 65300 levels for the target of 67300 levels. We are expecting that gold may test $1900 levels and Silver may test $27 levels again soon."

  • Jan 27, 2021 10:59 (IST)

    Nifty Outlook



    Geojit Financial said in its report today,"If 13160 holds, expect recovery attempts. Such moves are less likely to breach 14320 today though, keeping the 13900 view intact, but a direct rise above the same in the subsequent days could revive upside hopes aiming 15200. Meanwhile we see 13300-12660 as the next buying area, if the present downsides prevail."

  • 10:59 IST:

    Geojit Financial said in its report today,"If 13160 holds, expect recovery attempts. Such moves are less likely to breach 14320 today though, keeping the 13900 view intact, but a direct rise above the same in the subsequent days could revive upside hopes aiming 15200. Meanwhile we see 13300-12660 as the next buying area, if the present downsides prevail."

  • Jan 27, 2021 10:56 (IST)

    Stocks to watch today on January 27



    Stocks to watch today on January 27: L&T, Wipro, ICICI Securities, Bank of Baroda, Inox Leisure, Adani Ports among others are the top stocks to watch out for in Wednesday's trading session

    Stocks in news: L&T, Wipro, ICICI Securities, Bank of Baroda, Inox Leisure, Adani Ports

  • 10:56 IST:

    Stocks to watch today on January 27: L&T, Wipro, ICICI Securities, Bank of Baroda, Inox Leisure, Adani Ports among others are the top stocks to watch out for in Wednesday's trading session

    Stocks in news: L&T, Wipro, ICICI Securities, Bank of Baroda, Inox Leisure, Adani Ports

  • Jan 27, 2021 10:49 (IST)

    Global markets trade mixed today

    Most Asian equities turned positive after International Monetary Fund (IMF) raised its growth forecast to 5.5% for the global economy this year. That's a 0.3 percentage point increase from October's forecasts.

    Much now depends on the outcome of this race between a mutating virus and vaccines to end the pandemic, and on the ability of policies to provide effective support until that happens, IMF said.

    US markets closed mixed yesterday, while all European indices closed in the green.

    U.S. stimulus talks are also in focus. The Biden administration signaled Tuesday that it could be open to tweaking eligibility for future stimulus checks. President Joe Biden's $1.9 trillion proposal calls for $1,400 direct deposits, but the plan has drawn critiques from a bipartisan group of lawmakers because of its lofty price tag. U.S. Senate Majority Leader Chuck Schumer said Democrats will move forward on President Joe Biden’s $1.9 trillion relief plan without Republican support if necessary.

    Investors were also waiting for a new policy statement from the Federal Reserve as the central bank began its two-day meeting on Tuesday. Analysts expect the Fed to stick to its dovish tone to help speed the economic recovery.

     

  • 10:49 IST: Most Asian equities turned positive after International Monetary Fund (IMF) raised its growth forecast to 5.5% for the global economy this year. That's a 0.3 percentage point increase from October's forecasts.

    Much now depends on the outcome of this race between a mutating virus and vaccines to end the pandemic, and on the ability of policies to provide effective support until that happens, IMF said.

    US markets closed mixed yesterday, while all European indices closed in the green.

    U.S. stimulus talks are also in focus. The Biden administration signaled Tuesday that it could be open to tweaking eligibility for future stimulus checks. President Joe Biden's $1.9 trillion proposal calls for $1,400 direct deposits, but the plan has drawn critiques from a bipartisan group of lawmakers because of its lofty price tag. U.S. Senate Majority Leader Chuck Schumer said Democrats will move forward on President Joe Biden’s $1.9 trillion relief plan without Republican support if necessary.

    Investors were also waiting for a new policy statement from the Federal Reserve as the central bank began its two-day meeting on Tuesday. Analysts expect the Fed to stick to its dovish tone to help speed the economic recovery.

     

  • Jan 27, 2021 10:35 (IST)

    Market update

    Market indices reversed trend after the opening bell and fell for the fourth session on Wednesday, amid mixed global equities. Sensex was trading 450 points lower at 47,911 and Nifty fell by 125 points to 14,111.

  • 10:35 IST: Market indices reversed trend after the opening bell and fell for the fourth session on Wednesday, amid mixed global equities. Sensex was trading 450 points lower at 47,911 and Nifty fell by 125 points to 14,111.

  • Jan 27, 2021 10:23 (IST)

    Global markets mixed today

    Asian markets are trading higher after IMF raised its growth forecast for the global economy to 5.5% this year. Apart from that Chinese industrial profits rose 4.1% YoY in 2020. US markets closed lower as traders were focused on latest corporate earnings and analysed the prospects of bigger stimulus proposal moving through. European markets closed higher led by chemicals and financial stocks. UBS came out with 137% rise in YoY profits. Italy's PM resigned and will seek new mandate as covid cases rise.

  • 10:23 IST: Asian markets are trading higher after IMF raised its growth forecast for the global economy to 5.5% this year. Apart from that Chinese industrial profits rose 4.1% YoY in 2020. US markets closed lower as traders were focused on latest corporate earnings and analysed the prospects of bigger stimulus proposal moving through. European markets closed higher led by chemicals and financial stocks. UBS came out with 137% rise in YoY profits. Italy's PM resigned and will seek new mandate as covid cases rise.

  • Jan 27, 2021 10:04 (IST)

    Market outlook at opening bell


    On markets opening --Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments said,"14250 was a medium term support for the index which was pierced on Monday. This makes the Nifty vulnerable and we can go down to 13950 as a possible target. If we are unable to hold that level, we could fall further to 13600. On the upside, the resistance is at 14550-14600 and until we do not close above that zone, we will continue to remain in the grip of the bears."

     

  • 10:04 IST:
    On markets opening --Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments said,"14250 was a medium term support for the index which was pierced on Monday. This makes the Nifty vulnerable and we can go down to 13950 as a possible target. If we are unable to hold that level, we could fall further to 13600. On the upside, the resistance is at 14550-14600 and until we do not close above that zone, we will continue to remain in the grip of the bears."

     

  • Jan 27, 2021 09:52 (IST)

    FII action

    Foreign portfolio investors (FPIs) sold shares worth Rs 765.30 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 387.76 crore in the Indian equity market on 25 January, provisional data showed.


     

  • 09:52 IST: Foreign portfolio investors (FPIs) sold shares worth Rs 765.30 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 387.76 crore in the Indian equity market on 25 January, provisional data showed.


     

  • Jan 27, 2021 09:46 (IST)

    Currency Outlook




    The rupee opened on flat at 72.88 against the US dollar in opening trade on morning tracking queues from Asian equity market on slew earning reports amid worries over virus variants and hurdle on stimulus. On Monday it was closed flat at 72.95 against greenback, the rupee down 0.02% Monday. All major currency like Singapore dollar, Japanese Yen, Australian dollar are traded flat against the US dollar this morning due to rise is dollar index. Hong Kong market trading negative 350 points in the morning trade.

    Kshitij Purohit, Product Manager, Currency & Commodities at CapitalVia Global Research said,"Technically, USDINR pair closed firm against the US Dollar taking ques from strong economic data however due to rise in dollar index downside is capped. USDINR spot is trading below phycological level of  73.00 preceding 21-day SMA is currently around 73.11, which challenges any recovery moves and below this it may bearish momentum will continue for the day, however we can expect buying from local banks from the level of 72.80 levels. USDINR Jan future will trade in the range of 72.80 – 73.10 levels."

  • 09:46 IST:


    The rupee opened on flat at 72.88 against the US dollar in opening trade on morning tracking queues from Asian equity market on slew earning reports amid worries over virus variants and hurdle on stimulus. On Monday it was closed flat at 72.95 against greenback, the rupee down 0.02% Monday. All major currency like Singapore dollar, Japanese Yen, Australian dollar are traded flat against the US dollar this morning due to rise is dollar index. Hong Kong market trading negative 350 points in the morning trade.

    Kshitij Purohit, Product Manager, Currency & Commodities at CapitalVia Global Research said,"Technically, USDINR pair closed firm against the US Dollar taking ques from strong economic data however due to rise in dollar index downside is capped. USDINR spot is trading below phycological level of  73.00 preceding 21-day SMA is currently around 73.11, which challenges any recovery moves and below this it may bearish momentum will continue for the day, however we can expect buying from local banks from the level of 72.80 levels. USDINR Jan future will trade in the range of 72.80 – 73.10 levels."

  • Jan 27, 2021 09:44 (IST)

    Market update

    Market indices reversed trend after the opening bell and fell for the fourth session on Wednesday, amid mixed global equities. Sensex was trading 250 points lower at  48,080 and Nifty fell by 85 points to 14,150.

  • 09:44 IST: Market indices reversed trend after the opening bell and fell for the fourth session on Wednesday, amid mixed global equities. Sensex was trading 250 points lower at  48,080 and Nifty fell by 85 points to 14,150.

  • Jan 27, 2021 09:27 (IST)

    Earnings today

    Axis Bank, Hindustan Unilever, Bank of Baroda, Canara Bank, Marico, Emami, HG Infra Engineering, Hindustan Organic Chemicals, ICICI Prudential Life Insurance Company, India Cements, JK Paper, Jyothy Labs, Lakshmi Machine Works, Mahindra EPC Irrigation, Nippon Life India Asset Management, PNB Housing Finance, PSP Projects, Quess Corp, Tata Coffee, United Spirits and Welspun India among others will report Q3 earnings today.

     

  • 09:27 IST: Axis Bank, Hindustan Unilever, Bank of Baroda, Canara Bank, Marico, Emami, HG Infra Engineering, Hindustan Organic Chemicals, ICICI Prudential Life Insurance Company, India Cements, JK Paper, Jyothy Labs, Lakshmi Machine Works, Mahindra EPC Irrigation, Nippon Life India Asset Management, PNB Housing Finance, PSP Projects, Quess Corp, Tata Coffee, United Spirits and Welspun India among others will report Q3 earnings today.

     

  • Jan 27, 2021 09:20 (IST)

    Nifty technical outlook

    Sameet Chavan (Chief Analyst-Technical and Derivatives, Angel Broking)," At yesterday's close, Nifty was placed at crucial swing low of 14222, which remained unbroken on a closing basis. However, the way charts are shaped up, the possibility of sliding below this level is quite high to test 14100 -14000 levels. On the flipside, 14360-14500 are likely to act as immediate hurdles.

    We continue with our cautious stance on the market and as mentioned in the previous commentary, traders are advised to stay light on positions. Generally, market does not give any major trend reversal ahead of the mega event; but this time, it looks like we are going to witness yet another unprecedented behaviour of the market. Next couple of days would be quite crucial and would be interesting to see whether markets correct further or it shows some resilience to protect its crucial supports."

  • 09:20 IST: Sameet Chavan (Chief Analyst-Technical and Derivatives, Angel Broking)," At yesterday's close, Nifty was placed at crucial swing low of 14222, which remained unbroken on a closing basis. However, the way charts are shaped up, the possibility of sliding below this level is quite high to test 14100 -14000 levels. On the flipside, 14360-14500 are likely to act as immediate hurdles.

    We continue with our cautious stance on the market and as mentioned in the previous commentary, traders are advised to stay light on positions. Generally, market does not give any major trend reversal ahead of the mega event; but this time, it looks like we are going to witness yet another unprecedented behaviour of the market. Next couple of days would be quite crucial and would be interesting to see whether markets correct further or it shows some resilience to protect its crucial supports."

  • Jan 27, 2021 09:20 (IST)

    Rupee outlook

    Kshitij Purohit, Product Manager, Currency & Commodities at CapitalVia Global Research said," Technically, USDINR pair closed firm against the US Dollar taking cues from strong economic data and weakness in the dollar index. USDINR spot is trading below the phycological level of  73.00 preceding 21-day SMA is currently around 73.195, which challenges any recovery moves and below this it may continue in the falling trend pattern wherein the support of the pair is at 72.60 levels USDINR option data suggesting the market will keep trade in a narrow range. Once pair breaks the support then it may come down towards 72.20 levels."

  • 09:20 IST:

    Kshitij Purohit, Product Manager, Currency & Commodities at CapitalVia Global Research said," Technically, USDINR pair closed firm against the US Dollar taking cues from strong economic data and weakness in the dollar index. USDINR spot is trading below the phycological level of  73.00 preceding 21-day SMA is currently around 73.195, which challenges any recovery moves and below this it may continue in the falling trend pattern wherein the support of the pair is at 72.60 levels USDINR option data suggesting the market will keep trade in a narrow range. Once pair breaks the support then it may come down towards 72.20 levels."

  • Jan 27, 2021 09:19 (IST)

    Rupee closing on Monday

    On the currency front, Indian rupee rose for the fifth straight day to end 3 paise higher at 72.94 per dollar, despite heavy selling in the domestic equity market.

  • 09:19 IST: On the currency front, Indian rupee rose for the fifth straight day to end 3 paise higher at 72.94 per dollar, despite heavy selling in the domestic equity market.

  • Jan 27, 2021 09:17 (IST)

    Last Closing

    Yesterday, India's currency, debt and equity markets were closed on account of Republic Day. On Monday, equity indices closed 1% lower in a volatile trading session amid profit booking in global markets. Falling for the third straight session, Sensex ended 530 points lower at 48,347 and Nifty lost 133 points to 14,238.

  • 09:17 IST: Yesterday, India's currency, debt and equity markets were closed on account of Republic Day. On Monday, equity indices closed 1% lower in a volatile trading session amid profit booking in global markets. Falling for the third straight session, Sensex ended 530 points lower at 48,347 and Nifty lost 133 points to 14,238.