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Share Market Highlights: Sensex ends 470 points lower, Nifty at 14,281; HUL, TCS, ONGC, Nestle top losers

January 18,2021 15:46 IST

Sensex, Nifty LIVE Updates on January 18: Market indices reversed trend and fell on Monday, amid heavy selling pressure in metal and realty stocks, tracking cues from weak global equities. Extending fall for the second straight session, Sensex was trading 315 points lower at 48,700 and Nifty fell by 120 points to 14,312. SBI, HDFC Bank, ICICI Bank, RIL were trading as the only gainers in Sensex pack. On the flip side, Nestle, Dr Reddy, Maruti, HCL Tech, Asian Paints, ITC, Nestle, HUL were among the top losers today. Meanwhile, December quarterly earnings announcements by L&T Finance, Alok Industries, Mindtree, IndiaMart, Trident, Rallis India, IRB Infra, Indiabulls Real Estate, Snowman Logistics will also set the tone for the stock market today. Last Friday, Sensex ended 549 points lower at 49,034 and Nifty fell 161 points to 14,433.

 

 

 

 

 

 

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

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KEY UPDATES

  • India Stock Market News Updates Today: IndusInd Bank, followed by PowerGrid, Maruti, Bajaj Finance, Bajaj Finserv and ONGC were among the top losers today. On the other hand, HDFC Bank, HCL Tech, SBI, Tech Mahindra and ICICI Bank were among the gainers
  • Jan 18, 2021 15:47 (IST)

    Closing session today

    Market indices reversed trend and closed 1% lower on Monday, amid heavy selling pressure in metal and realty stocks, taking cues from weak global equities. Extending fall for the second straight session, Sensex ended 470 points lower at 48,564 and Nifty fell by 152 points to 14,281.

  • 15:47 IST: Market indices reversed trend and closed 1% lower on Monday, amid heavy selling pressure in metal and realty stocks, taking cues from weak global equities. Extending fall for the second straight session, Sensex ended 470 points lower at 48,564 and Nifty fell by 152 points to 14,281.

  • Jan 18, 2021 15:44 (IST)

    Market outlook

    Ashis Biswas, head of Technical research at CapitalVia Global Research Limited said," The market manages to hold above the Nifty 50 Index support zone of 14170-14230. The technical factors are aligned to support a range-bound market movement in the coming week. Therefore, the short-term traders to use the rally to exit while buying any dip towards the support level around 14170-14230 (considered best practice in a volatile market). The market breadth to deteriorate, indicating a likelihood of higher volatility."


     

  • 15:44 IST: Ashis Biswas, head of Technical research at CapitalVia Global Research Limited said," The market manages to hold above the Nifty 50 Index support zone of 14170-14230. The technical factors are aligned to support a range-bound market movement in the coming week. Therefore, the short-term traders to use the rally to exit while buying any dip towards the support level around 14170-14230 (considered best practice in a volatile market). The market breadth to deteriorate, indicating a likelihood of higher volatility."


     

  • Jan 18, 2021 15:35 (IST)

    Larsen & Toubro outlook

     Amarjeet Maurya - AVP - Mid Caps, Angel Broking  said,"Larsen & Toubro is an Indian multinational engaged in engineering, procurement and construction projects, manufacturing, defence and services with over USD 21 billion in revenue. The construction arm of L&T has secured a large order for its Heavy Civil Infrastructure business from Rail Vikas Nigam Limited (RVNL) for Package 4 of the New Broad-Gauge Line between Rishikesh and Karanprayag in the State of Uttarakhand, India. In the terms of large order means it could be between Rs2500 to Rs5000cr. This is a positive development for the company, which would support revenue growth for FY22."

  • 15:35 IST:  Amarjeet Maurya - AVP - Mid Caps, Angel Broking  said,"Larsen & Toubro is an Indian multinational engaged in engineering, procurement and construction projects, manufacturing, defence and services with over USD 21 billion in revenue. The construction arm of L&T has secured a large order for its Heavy Civil Infrastructure business from Rail Vikas Nigam Limited (RVNL) for Package 4 of the New Broad-Gauge Line between Rishikesh and Karanprayag in the State of Uttarakhand, India. In the terms of large order means it could be between Rs2500 to Rs5000cr. This is a positive development for the company, which would support revenue growth for FY22."

  • Jan 18, 2021 15:23 (IST)

    Metropolis Healthcare outlook

    Keshav Lahoti-Associate Equity Analyst, Angel Broking said,"Metropolis Healthcare will acquire 100% equity of Dr. Ganesan’s Hitech Diagnostic Centre Pvt. Ltd. in a combination of cash and stock deal. The entity is a debt free company. Cash consideration will be Rs. 511 Crores and Metropolis will issue up to 4,95,000 equity shares of Face Value Rs.2/- each on preferential basis, subject to Shareholders approval, to the Promoter Group of Hitech. The Cash consideration will be funded through internal accruals and Debt of up to Rs. 300 Crores.  Established in 1986, Hitech Diagnostic Centre is a well-known Diagnostics laboratory chain in the South India market with a network of 31 laboratories including 3 NABL and ICMR accredited laboratories and 68 collection centres strategically spread across the states of Tamil Nadu, Karnataka, Kerala, Andhra Pradesh and the Union Territory of Pondicherry. Hitech is the 2nd largest player in Chennai behind Metropolis and is a leader in non-Chennai markets in the state of Tamil Nadu. It is a significant player in the Bengaluru market."

    He added,"Hitech revenue for FY20 stood at Rs. 83.3 Crores having an EBITDA margin profile similar to Metropolis. We believe this acquisition is going to be EPS accretive. This acquisition will have other benefits such as synergy benefits, increasing market share in the focus cities of Metropolis. We believe this acquisition strategically makes sense for Metropolis and it is done at reasonable valuation. From a long term investment perspective, we are bullish on the Metropolis."

  • 15:23 IST: Keshav Lahoti-Associate Equity Analyst, Angel Broking said,"Metropolis Healthcare will acquire 100% equity of Dr. Ganesan’s Hitech Diagnostic Centre Pvt. Ltd. in a combination of cash and stock deal. The entity is a debt free company. Cash consideration will be Rs. 511 Crores and Metropolis will issue up to 4,95,000 equity shares of Face Value Rs.2/- each on preferential basis, subject to Shareholders approval, to the Promoter Group of Hitech. The Cash consideration will be funded through internal accruals and Debt of up to Rs. 300 Crores.  Established in 1986, Hitech Diagnostic Centre is a well-known Diagnostics laboratory chain in the South India market with a network of 31 laboratories including 3 NABL and ICMR accredited laboratories and 68 collection centres strategically spread across the states of Tamil Nadu, Karnataka, Kerala, Andhra Pradesh and the Union Territory of Pondicherry. Hitech is the 2nd largest player in Chennai behind Metropolis and is a leader in non-Chennai markets in the state of Tamil Nadu. It is a significant player in the Bengaluru market."

    He added,"Hitech revenue for FY20 stood at Rs. 83.3 Crores having an EBITDA margin profile similar to Metropolis. We believe this acquisition is going to be EPS accretive. This acquisition will have other benefits such as synergy benefits, increasing market share in the focus cities of Metropolis. We believe this acquisition strategically makes sense for Metropolis and it is done at reasonable valuation. From a long term investment perspective, we are bullish on the Metropolis."

  • Jan 18, 2021 15:12 (IST)

    HDFC Bank Q3 outlook

    Jyoti Roy - DVP- Equity Strategist, Angel Broking said," HDFC Bank reported a 15.1% YoY increase in Net interest income to Rs. 16,318 crore. While Interest income for the quarter was up by 2.4% YoY Interest expended was down by 9.4% YoY. NII growth for the quarter was driven by advances growth of 15.6% YoY to Rs. 10.82 Lakh cr. while reported NIM for the quarter stood at 4.2%. Other income for the quarter was up by 11.6% YoY to Rs. 7,443 crore. Cost to income for the quarter stood at 36.1% down by ~180 bps YoY. Pre provisioning profits for the quarter was up by 17.3% YoY to Rs. 15,186 crore. Provisions for the quarter were down by 7.8% sequentially as a result for which profits for the quarter was up by 18.1% YoY to Rs. 8,758 crore. Deposits for the quarter were up by 19.1% YoY while share of low cost CASA deposits increased by 350bps YoY to 43.0%. Overall HDFC Bank delivered another solid quarter of earnings growth with GNPA and NNPA at 0.81% and 0.09% of total advances. At current levels the stock is trading at P/BV of 3.1xFY23 book which is in line with historical average. Post the Q3FY21 numbers we continue to maintain our positive stance on HDFC Bank and it remains one of our top picks in the large cap banking space."

  • 15:12 IST: Jyoti Roy - DVP- Equity Strategist, Angel Broking said," HDFC Bank reported a 15.1% YoY increase in Net interest income to Rs. 16,318 crore. While Interest income for the quarter was up by 2.4% YoY Interest expended was down by 9.4% YoY. NII growth for the quarter was driven by advances growth of 15.6% YoY to Rs. 10.82 Lakh cr. while reported NIM for the quarter stood at 4.2%. Other income for the quarter was up by 11.6% YoY to Rs. 7,443 crore. Cost to income for the quarter stood at 36.1% down by ~180 bps YoY. Pre provisioning profits for the quarter was up by 17.3% YoY to Rs. 15,186 crore. Provisions for the quarter were down by 7.8% sequentially as a result for which profits for the quarter was up by 18.1% YoY to Rs. 8,758 crore. Deposits for the quarter were up by 19.1% YoY while share of low cost CASA deposits increased by 350bps YoY to 43.0%. Overall HDFC Bank delivered another solid quarter of earnings growth with GNPA and NNPA at 0.81% and 0.09% of total advances. At current levels the stock is trading at P/BV of 3.1xFY23 book which is in line with historical average. Post the Q3FY21 numbers we continue to maintain our positive stance on HDFC Bank and it remains one of our top picks in the large cap banking space."

  • Jan 18, 2021 15:04 (IST)

    DHFL share hits upper circuit after lenders approve Piramal's takeover bid

    Share of Dewan Housing Finance Corp rose 5% today after the company's creditors voted in favour of a Rs 37,250 crore ($5.09 billion) takeover bid submitted by the Piramal Group for the troubled lender. Dewan Housing Finance Corp share rose 4.96% to Rs 27.50 against previous close of Rs 26.20 on BSE.

    The micro cap stock has gained 7.21% in the last 3 days. The stock opened with a gain of 4.96% today. There were only buyers and no sellers for the stock today. The share trades higher than 5 day, 50 day, 100 day and 200 day moving averages but lower than 20 day moving averages.

    The stock has gained 62.24% in one year but fallen 7.25% since the beginning of this year. In a month, the stock is down 15.12%.

    DHFL share hits upper circuit after lenders approve Piramal's takeover bid

  • 15:04 IST: Share of Dewan Housing Finance Corp rose 5% today after the company's creditors voted in favour of a Rs 37,250 crore ($5.09 billion) takeover bid submitted by the Piramal Group for the troubled lender. Dewan Housing Finance Corp share rose 4.96% to Rs 27.50 against previous close of Rs 26.20 on BSE.

    The micro cap stock has gained 7.21% in the last 3 days. The stock opened with a gain of 4.96% today. There were only buyers and no sellers for the stock today. The share trades higher than 5 day, 50 day, 100 day and 200 day moving averages but lower than 20 day moving averages.

    The stock has gained 62.24% in one year but fallen 7.25% since the beginning of this year. In a month, the stock is down 15.12%.

    DHFL share hits upper circuit after lenders approve Piramal's takeover bid

  • Jan 18, 2021 15:02 (IST)

    SAIL OFS response

    Yash Gupta Equity Research Associate, Angel Broking said," Strong response for SAIL OFS from Non retail investors as well as retail investors, today stock trading at 66, retail investors who applied for the OFS at 67.55 or above have received allotment of shares. We have given a Neutral rating to the SAIL OFS, Investors who haven't received the allotment and want  to buy shares they can buy the stock at current market price which is lower than the OFS cut off price. After the SAIL OFS of 2600 crores and IRCTS OFS of 4374 crores, we expect some more OFS to kick in before the end of this financial year as the government is way behind with their investment targets."


     

  • 15:02 IST: Yash Gupta Equity Research Associate, Angel Broking said," Strong response for SAIL OFS from Non retail investors as well as retail investors, today stock trading at 66, retail investors who applied for the OFS at 67.55 or above have received allotment of shares. We have given a Neutral rating to the SAIL OFS, Investors who haven't received the allotment and want  to buy shares they can buy the stock at current market price which is lower than the OFS cut off price. After the SAIL OFS of 2600 crores and IRCTS OFS of 4374 crores, we expect some more OFS to kick in before the end of this financial year as the government is way behind with their investment targets."


     

  • Jan 18, 2021 14:35 (IST)

    Global markets trading bearish




    Asian markets are trading mixed with a negative bias as investors reacted to China's GDP number which rose 2.3% against expectation of 2% However, retail sales contracted 3.9%. US markets had closed lower as investors analyzed Biden's rescue plan and earnings from major banks. Markets will be shut today for Martin Luther King holiday.

    European markets closed lower on Friday as investors analyzed new lockdown restrictions and resurgence of covid-19 in China added more uncertainty.

  • 14:35 IST:


    Asian markets are trading mixed with a negative bias as investors reacted to China's GDP number which rose 2.3% against expectation of 2% However, retail sales contracted 3.9%. US markets had closed lower as investors analyzed Biden's rescue plan and earnings from major banks. Markets will be shut today for Martin Luther King holiday.

    European markets closed lower on Friday as investors analyzed new lockdown restrictions and resurgence of covid-19 in China added more uncertainty.

  • Jan 18, 2021 14:20 (IST)

    YES Bank share rises 3% amid falling market, here's why

    YES Bank share was trading 2.8% higher despite Monday's bearish session, ranking among the most active banking scrips in terms of volumes on both BSE and NSE today. The lender's board is set to consider fund-raising during its meeting on January 22. The bank is also set to announce its December quarter earnings on same day.

    The rise also came after brokerage house Jefferies said in a report that the Piramal group winning creditors' approval to take over DHFL's loans, was a "marginal positive" outcome for banks that have exposure to DHFL, including state-run Bank of India, Canara Bank and Union Bank of India and private-sector lenders such as YES Bank.

    YES Bank share rises 3% amid falling market, here's why

     

  • 14:20 IST: YES Bank share was trading 2.8% higher despite Monday's bearish session, ranking among the most active banking scrips in terms of volumes on both BSE and NSE today. The lender's board is set to consider fund-raising during its meeting on January 22. The bank is also set to announce its December quarter earnings on same day.

    The rise also came after brokerage house Jefferies said in a report that the Piramal group winning creditors' approval to take over DHFL's loans, was a "marginal positive" outcome for banks that have exposure to DHFL, including state-run Bank of India, Canara Bank and Union Bank of India and private-sector lenders such as YES Bank.

    YES Bank share rises 3% amid falling market, here's why

     

  • Jan 18, 2021 14:19 (IST)

    Why Sensex fell over 450 points in early trade

    Sensex fell over 450 points in early trade today tracking losses in heavyweights such as Infosys, HDFC and TCS amid a mixed trend in global markets. Sensex lost 477 points intra day to 48,557 against previous close of 49,034.  Nifty too fell 170 points to its intra day low of 14,263 against previous close of 14,433.

    On Friday, benchmark indices fell over 1% each amid weak global equities. Sensex ended 549 points to 49,034 and Nifty fell by 161 points lower at 14,433. Information technology shares extended fall for the second straight session today led by loses in Infosys and TCS shares.

    Both firms saw profit booking after shares hit record highs buoyed by earnings hopes last week. While Infosys fell 2.89% to Rs 1,306, TCS lost 1.45% to Rs 3,186.

    Why Sensex fell over 450 points in early trade

  • 14:19 IST: Sensex fell over 450 points in early trade today tracking losses in heavyweights such as Infosys, HDFC and TCS amid a mixed trend in global markets. Sensex lost 477 points intra day to 48,557 against previous close of 49,034.  Nifty too fell 170 points to its intra day low of 14,263 against previous close of 14,433.

    On Friday, benchmark indices fell over 1% each amid weak global equities. Sensex ended 549 points to 49,034 and Nifty fell by 161 points lower at 14,433. Information technology shares extended fall for the second straight session today led by loses in Infosys and TCS shares.

    Both firms saw profit booking after shares hit record highs buoyed by earnings hopes last week. While Infosys fell 2.89% to Rs 1,306, TCS lost 1.45% to Rs 3,186.

    Why Sensex fell over 450 points in early trade

  • Jan 18, 2021 14:04 (IST)

    HDFC Bank share hits all-time high on strong Q3 earnings

    HDFC Bank share hit a record high in trade today after the private sector lender reported a 18.1% increase in net profit for the quarter ended December 31, 2020. HDFC Bank share rose 2.52% to Rs 1,503 against previous close of Rs 1,466 on BSE. The large cap share has gained after 3 days of consecutive fall.

    HDFC Bank stock is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.

    HDFC Bank share has gained 16% in one year and risen 3.21% since the beginning of this year. In a month, the share has climbed 5.08%. Market cap of the lender rose to Rs 8.16 lakh crore. Total 5.92 lakh shares changed hands amounting to turnover of Rs 88.23 crore. The lender reported a net profit of Rs 8,758.29 crore in Q3 against Rs 7,416.48 crore profit in the year-ago period.

    HDFC Bank share hits all-time high on strong Q3 earnings

  • 14:04 IST: HDFC Bank share hit a record high in trade today after the private sector lender reported a 18.1% increase in net profit for the quarter ended December 31, 2020. HDFC Bank share rose 2.52% to Rs 1,503 against previous close of Rs 1,466 on BSE. The large cap share has gained after 3 days of consecutive fall.

    HDFC Bank stock is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.

    HDFC Bank share has gained 16% in one year and risen 3.21% since the beginning of this year. In a month, the share has climbed 5.08%. Market cap of the lender rose to Rs 8.16 lakh crore. Total 5.92 lakh shares changed hands amounting to turnover of Rs 88.23 crore. The lender reported a net profit of Rs 8,758.29 crore in Q3 against Rs 7,416.48 crore profit in the year-ago period.

    HDFC Bank share hits all-time high on strong Q3 earnings

  • Jan 18, 2021 13:51 (IST)

    IRFC outlook

    "IRFC has strong fundamentals and has delivered good growth in recent years. It has a low-risk profile since it caters to the Indian Railways and other Public sector Undertakings. Moreover, it has a low cost of borrowing and diversified sources of funding. At the higher end of the price band, IRFC IPO is attractively priced at 1x the FY20 book value per share. Given strong business fundamentals and good growth prospects, we remain positive on the prospects of the issue," INDmoney said in a report.

     

  • 13:51 IST: "IRFC has strong fundamentals and has delivered good growth in recent years. It has a low-risk profile since it caters to the Indian Railways and other Public sector Undertakings. Moreover, it has a low cost of borrowing and diversified sources of funding. At the higher end of the price band, IRFC IPO is attractively priced at 1x the FY20 book value per share. Given strong business fundamentals and good growth prospects, we remain positive on the prospects of the issue," INDmoney said in a report.

     

  • Jan 18, 2021 13:29 (IST)

    Rupee falls 15 paise to 73.22 amid strong dollar, weak equities

    Indian rupee, the domestic currency fell by 15 paise to 73.22 per US dollar on Monday's opening trade, tracking muted opening in domestic equities and strengthening American currency

    Rupee opened on a weak note at 73.21 against the dollar index that traded near one-month high on risk aversion. The domestic unit then fell further by 15 paise to 73.22 at the interbank forex market, over its previous close.

    Rupee falls 15 paise to 73.22 amid strong dollar, weak equities

     

  • 13:29 IST: Indian rupee, the domestic currency fell by 15 paise to 73.22 per US dollar on Monday's opening trade, tracking muted opening in domestic equities and strengthening American currency

    Rupee opened on a weak note at 73.21 against the dollar index that traded near one-month high on risk aversion. The domestic unit then fell further by 15 paise to 73.22 at the interbank forex market, over its previous close.

    Rupee falls 15 paise to 73.22 amid strong dollar, weak equities

     

  • Jan 18, 2021 13:08 (IST)

    IRFC IPO opens today

    The three-day initial share-sale of Indian Railway Finance Corporation (IRFC) worth Rs 4,600 crore was launched today. The first-ever IPO by a non-banking financial company (NBFC) in the public sector is being done by a dedicated market borrowing arm of the Indian Railways. The IPO will close on January 21.

    Ahead of the IPO, IRFC had raised Rs 1,398.63 crores from 31 anchor investors. IRFC is issuing shares at a price band of Rs 25 to Rs 26. The application money per stands at Rs 14,950 at Rs 26 per share.

    Post the IPO, the shareholding of government will come down to 86.4%, from 100% earlier. The issue includes a reservation of Rs 50 lakh worth of shares for eligible employees.

    IRFC IPO opens today: Should you subscribe to the share sale?

     

  • 13:08 IST: The three-day initial share-sale of Indian Railway Finance Corporation (IRFC) worth Rs 4,600 crore was launched today. The first-ever IPO by a non-banking financial company (NBFC) in the public sector is being done by a dedicated market borrowing arm of the Indian Railways. The IPO will close on January 21.

    Ahead of the IPO, IRFC had raised Rs 1,398.63 crores from 31 anchor investors. IRFC is issuing shares at a price band of Rs 25 to Rs 26. The application money per stands at Rs 14,950 at Rs 26 per share.

    Post the IPO, the shareholding of government will come down to 86.4%, from 100% earlier. The issue includes a reservation of Rs 50 lakh worth of shares for eligible employees.

    IRFC IPO opens today: Should you subscribe to the share sale?

     

  • Jan 18, 2021 13:07 (IST)

    Brent crude futures

    Brent crude futures, the global oil benchmark, fell 0.94 per cent to USD 54.58 per barrel. Oil price fell as concerns over demand due to lockdown being imposed in Chinese cities overshadowed strong import data and US stimulus package.

  • 13:07 IST: Brent crude futures, the global oil benchmark, fell 0.94 per cent to USD 54.58 per barrel. Oil price fell as concerns over demand due to lockdown being imposed in Chinese cities overshadowed strong import data and US stimulus package.

  • Jan 18, 2021 13:00 (IST)

    Pre-Budget quote

    Manish Bhatnagar, Managing Director, SKF India said,"After the global 2020 interruption, the economy is clearly on the revival mode and we are positive that 2021 will be a game changing year  specifically for the Indian manufacturing sector. The flexible nature of the Indian economy will help expedite the recovery path, however it needs to be backed by robust policy and investment interventions. We also expect the upcoming budget to address and resolve some of the pain points such as - increased cost of raw materials like steel, rise in import freight, IP safety regulations and labor laws."

  • 13:00 IST: Manish Bhatnagar, Managing Director, SKF India said,"After the global 2020 interruption, the economy is clearly on the revival mode and we are positive that 2021 will be a game changing year  specifically for the Indian manufacturing sector. The flexible nature of the Indian economy will help expedite the recovery path, however it needs to be backed by robust policy and investment interventions. We also expect the upcoming budget to address and resolve some of the pain points such as - increased cost of raw materials like steel, rise in import freight, IP safety regulations and labor laws."

  • Jan 18, 2021 12:50 (IST)

    Market commentary

    Gaurav Garg, Head of  Research at CapitalVia Global Research Limited- Investment Advisor said," Market opened on a flatter note at 14453.30 following the weak global cues. Global cues also indicated that this week would be sluggish and choppy as the global market movements showed small corrections with the opening all over the globe. The European Central Bank will meet on Thursday for the first time in 2021 as it tries to manage the impact of rising COVID-19 cases, a resurge in lockdowns across the continent and taking into account preliminary PMI data from Europe. The continent has taken a hit in January as the spread of the virus has trumped the vaccine rollout. The impact of this can be seen on the markets all over the world. All major indices have been trading negative, Tata motors and Tata steel being the biggest losers on NSE."

     

  • 12:50 IST: Gaurav Garg, Head of  Research at CapitalVia Global Research Limited- Investment Advisor said," Market opened on a flatter note at 14453.30 following the weak global cues. Global cues also indicated that this week would be sluggish and choppy as the global market movements showed small corrections with the opening all over the globe. The European Central Bank will meet on Thursday for the first time in 2021 as it tries to manage the impact of rising COVID-19 cases, a resurge in lockdowns across the continent and taking into account preliminary PMI data from Europe. The continent has taken a hit in January as the spread of the virus has trumped the vaccine rollout. The impact of this can be seen on the markets all over the world. All major indices have been trading negative, Tata motors and Tata steel being the biggest losers on NSE."

     

  • Jan 18, 2021 12:47 (IST)

    Metropolis Healthcare to acquire Hitech Diagnostic Centre in a cash, stock deal

    Diagnostic chain Metropolis Healthcare on Sunday said it will acquire Dr Ganesan's Hitech Diagnostic Centre Pvt Ltd in a cash and stock combination deal, to strengthen its leadership position in southern India.

    The company's board has approved the acquisition partly by way of cash consideration of Rs 511 crore and partly by issuance of up to 4,95,000 equity shares of a face value of Rs 2 each on a preferential basis, to the promoter group of Hitech, Metropolis Healthcare said in a regulatory filing.

    "The cash consideration will be funded through internal accruals and debt of up to Rs 300 crore," it added.

    Metropolis Healthcare to acquire Hitech Diagnostic Centre in a cash, stock deal

  • 12:47 IST: Diagnostic chain Metropolis Healthcare on Sunday said it will acquire Dr Ganesan's Hitech Diagnostic Centre Pvt Ltd in a cash and stock combination deal, to strengthen its leadership position in southern India.

    The company's board has approved the acquisition partly by way of cash consideration of Rs 511 crore and partly by issuance of up to 4,95,000 equity shares of a face value of Rs 2 each on a preferential basis, to the promoter group of Hitech, Metropolis Healthcare said in a regulatory filing.

    "The cash consideration will be funded through internal accruals and debt of up to Rs 300 crore," it added.

    Metropolis Healthcare to acquire Hitech Diagnostic Centre in a cash, stock deal

  • Jan 18, 2021 12:34 (IST)

    DHFL lenders approve Piramal bid for resolution plan

    Diagnostic chain Metropolis Healthcare on Sunday said it will acquire Dr Ganesan's Hitech Diagnostic Centre Pvt Ltd in a cash and stock combination deal, to strengthen its leadership position in southern India.

    The company's board has approved the acquisition partly by way of cash consideration of Rs 511 crore and partly by issuance of up to 4,95,000 equity shares of a face value of Rs 2 each on a preferential basis, to the promoter group of Hitech, Metropolis Healthcare said in a regulatory filing.

    "The cash consideration will be funded through internal accruals and debt of up to Rs 300 crore," it added.

    Following the news, DHFL share price was trading at 5% upper circuit of Rs 27.50 on BSE today.

    DHFL lenders approve Piramal bid for resolution plan

  • 12:34 IST: Diagnostic chain Metropolis Healthcare on Sunday said it will acquire Dr Ganesan's Hitech Diagnostic Centre Pvt Ltd in a cash and stock combination deal, to strengthen its leadership position in southern India.

    The company's board has approved the acquisition partly by way of cash consideration of Rs 511 crore and partly by issuance of up to 4,95,000 equity shares of a face value of Rs 2 each on a preferential basis, to the promoter group of Hitech, Metropolis Healthcare said in a regulatory filing.

    "The cash consideration will be funded through internal accruals and debt of up to Rs 300 crore," it added.

    Following the news, DHFL share price was trading at 5% upper circuit of Rs 27.50 on BSE today.

    DHFL lenders approve Piramal bid for resolution plan

  • Jan 18, 2021 12:24 (IST)

    Wipro completes Rs 9,500-crore buyback programme

    IT services major Wipro on Saturday said it has completed its Rs 9,500-crore share buyback programme.

    The buyback saw Azim Premji-affiliated entities tendering 22.89 crore shares worth about Rs 9,156 crore during the process, a regulatory filing said.

    "(A total of) 23.75 crore equity shares were bought back under the buyback at a price of Rs 400 per equity share...The total amount utilized in the buyback is Rs 9,500 crore," it added.

    The tendering period for the buyback programme opened on December 29, 2020 and closed on January 11, 2021.

    Wipro completes Rs 9,500-crore buyback programme

  • 12:24 IST: IT services major Wipro on Saturday said it has completed its Rs 9,500-crore share buyback programme.

    The buyback saw Azim Premji-affiliated entities tendering 22.89 crore shares worth about Rs 9,156 crore during the process, a regulatory filing said.

    "(A total of) 23.75 crore equity shares were bought back under the buyback at a price of Rs 400 per equity share...The total amount utilized in the buyback is Rs 9,500 crore," it added.

    The tendering period for the buyback programme opened on December 29, 2020 and closed on January 11, 2021.

    Wipro completes Rs 9,500-crore buyback programme

  • Jan 18, 2021 12:12 (IST)

    Market to be volatile on budget expectations, Q3 earnings




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

    "Coming days are likely to be volatile on budget expectations and, more importantly, on actual budget proposals. One major factor supporting the markets even at high valuations is the sustained FII inflows. When FII inflows start to taper, there will be renewed selling in the market. Meanwhile data on credit and imports growth show recovery in the economy. If growth recovery sustains, that will support the market. Very good numbers from HDFC Bank is another positive. But investors may remain cautious"

     

  • 12:12 IST:


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

    "Coming days are likely to be volatile on budget expectations and, more importantly, on actual budget proposals. One major factor supporting the markets even at high valuations is the sustained FII inflows. When FII inflows start to taper, there will be renewed selling in the market. Meanwhile data on credit and imports growth show recovery in the economy. If growth recovery sustains, that will support the market. Very good numbers from HDFC Bank is another positive. But investors may remain cautious"

     

  • Jan 18, 2021 11:51 (IST)

    Metal stocks plunge, Tata Steel down 6%




    Nifty metal index was down almost 4% today, followed by major losers like Tata Steel, Jindal Steel, Hind Copper, SAIL, Hindalco among top losers, down 4-5% each.

    Tata Steel stock price has fallen over 6% in the last 3 days. The share touched an intraday low of Rs 659.65, falling 6.51% on BSE today.

  • 11:51 IST:


    Nifty metal index was down almost 4% today, followed by major losers like Tata Steel, Jindal Steel, Hind Copper, SAIL, Hindalco among top losers, down 4-5% each.

    Tata Steel stock price has fallen over 6% in the last 3 days. The share touched an intraday low of Rs 659.65, falling 6.51% on BSE today.

  • Jan 18, 2021 11:49 (IST)

    IRFC IPO view: Subscribe for short term




    AR Ramachandran, Co-founder & Trainer, Tips2Trade said,"IRFC's relatively strong fundamentals & an attractively priced IPO with current primary market frenzy in India make it a subscribe for short term investors looking for listing gains. Long term investors, however, are advised to buy only on a dip post IPO as currently the overall market & especially the PSU stocks look technically overbought & due for a sharp correction."

  • 11:49 IST:


    AR Ramachandran, Co-founder & Trainer, Tips2Trade said,"IRFC's relatively strong fundamentals & an attractively priced IPO with current primary market frenzy in India make it a subscribe for short term investors looking for listing gains. Long term investors, however, are advised to buy only on a dip post IPO as currently the overall market & especially the PSU stocks look technically overbought & due for a sharp correction."

  • Jan 18, 2021 11:38 (IST)

    Stocks in news: HCL Tech, InterGlobe Aviation, SpiceJet, Vedanta, Wipro, DHFL, JBM Auto



    Stocks to watch today on January 18: HCL Tech, InterGlobe Aviation, SpiceJet, Vedanta, Wipro, DHFL, JBM Autoamong others are the top stocks to watch out for in Monday's trading session

    Stocks in news: HCL Tech, InterGlobe Aviation, SpiceJet, Vedanta, Wipro, DHFL, JBM Auto

  • 11:38 IST:

    Stocks to watch today on January 18: HCL Tech, InterGlobe Aviation, SpiceJet, Vedanta, Wipro, DHFL, JBM Autoamong others are the top stocks to watch out for in Monday's trading session

    Stocks in news: HCL Tech, InterGlobe Aviation, SpiceJet, Vedanta, Wipro, DHFL, JBM Auto

  • Jan 18, 2021 11:33 (IST)

    Benchmark indices fall further

    Market indices reversed trend and fell on Monday, amid heavy selling pressure in metal and realty stocks, tracking cues from weak global equities. Extending fall for the second straight session, Sensex was trading 315 points lower at 48,700 and Nifty fell by 120 points to 14,312.

  • 11:33 IST: Market indices reversed trend and fell on Monday, amid heavy selling pressure in metal and realty stocks, tracking cues from weak global equities. Extending fall for the second straight session, Sensex was trading 315 points lower at 48,700 and Nifty fell by 120 points to 14,312.

  • Jan 18, 2021 11:30 (IST)

    Market opening view



    Manish Hathiramani, Proprietary Index Trader and Technical Analyst, Deen Dayal Investments said," If the markets trade below 14370-14380 and manage to close below that too, we would be in a correction zone which could take the Nifty down to 14150 and then 14000. Extreme caution should be exercised and stops must be in place for all trades, long or short. Volatility needs to be strategically utilised. For the markets to move up, we need the index to close around the 14600 levels. Until that does not happen, the trend remains sideways with a bearish bias."

  • 11:30 IST:

    Manish Hathiramani, Proprietary Index Trader and Technical Analyst, Deen Dayal Investments said," If the markets trade below 14370-14380 and manage to close below that too, we would be in a correction zone which could take the Nifty down to 14150 and then 14000. Extreme caution should be exercised and stops must be in place for all trades, long or short. Volatility needs to be strategically utilised. For the markets to move up, we need the index to close around the 14600 levels. Until that does not happen, the trend remains sideways with a bearish bias."

  • Jan 18, 2021 11:29 (IST)

    Global markets



    Asian stocks are trading mixed on Monday as investors in the region reacted to Chinese economic data releases. Data from China suggested that Chinese consumers remained reluctant to spend, as retail sales contracted 3.9% for the year, while China's GDP rose 2.3% last year and grew by 6.5% in the fourth quarter from a year ago.

    U.S. markets are closed on Monday for a holiday. US stocks fell on Friday as traders weighed President-elect Joe Biden's $1.9 trillion stimulus plan along with the latest earnings from some of the biggest U.S. banks.

  • 11:29 IST:

    Asian stocks are trading mixed on Monday as investors in the region reacted to Chinese economic data releases. Data from China suggested that Chinese consumers remained reluctant to spend, as retail sales contracted 3.9% for the year, while China's GDP rose 2.3% last year and grew by 6.5% in the fourth quarter from a year ago.

    U.S. markets are closed on Monday for a holiday. US stocks fell on Friday as traders weighed President-elect Joe Biden's $1.9 trillion stimulus plan along with the latest earnings from some of the biggest U.S. banks.

  • Jan 18, 2021 11:01 (IST)

    Nifty outlook

    Expresing views on Nifty's technical outlook, Sneha Seth (Derivatives Analyst, Angel Broking) said," We began the week on a cheerful note and saw follow-up buying to extend the up move beyond 14650 mark. Around this levels, we found some parameters like PCR-OI and FIIs ‘Long short Ratio’ hinting market in the overbought zone. As anticipated, we witnessed decent profit booking at the higher level which led weekly closing below 14450 mark. Must say, market remained volatile last week and hence we saw mixed activity in terms of open interest in index futures segment. The PCR-OI surged to 1.80 on Tuesday, which clearly suggested market was overbought. From the next trading sessions, strong writing was observed in 14600-14700 call options."

    She added," Today, we also saw good amount of writing in 14500 strikes. In case of puts, hardly any meaningful build-up was seen during the week. Highest open interest concentration for the coming weekly series, has shifted lower to 14600 call and 14000 put options. The Volatility index surged more than 16% last week, which is certainly not good for bull’s. Considering the overall development seen in F&O space, we expect some follow-up selling in the coming week as well. Hence, traders are advised lightening up their longs and prefer buying slightly OTM puts incase of any pullback around  14500-14550."

     

  • 11:01 IST: Expresing views on Nifty's technical outlook, Sneha Seth (Derivatives Analyst, Angel Broking) said," We began the week on a cheerful note and saw follow-up buying to extend the up move beyond 14650 mark. Around this levels, we found some parameters like PCR-OI and FIIs ‘Long short Ratio’ hinting market in the overbought zone. As anticipated, we witnessed decent profit booking at the higher level which led weekly closing below 14450 mark. Must say, market remained volatile last week and hence we saw mixed activity in terms of open interest in index futures segment. The PCR-OI surged to 1.80 on Tuesday, which clearly suggested market was overbought. From the next trading sessions, strong writing was observed in 14600-14700 call options."

    She added," Today, we also saw good amount of writing in 14500 strikes. In case of puts, hardly any meaningful build-up was seen during the week. Highest open interest concentration for the coming weekly series, has shifted lower to 14600 call and 14000 put options. The Volatility index surged more than 16% last week, which is certainly not good for bull’s. Considering the overall development seen in F&O space, we expect some follow-up selling in the coming week as well. Hence, traders are advised lightening up their longs and prefer buying slightly OTM puts incase of any pullback around  14500-14550."

     

  • Jan 18, 2021 10:52 (IST)

    Indigo Paints IPO outlook




    Reliance Research said in its note today,"The IPO is valued at 142x FY20 and 129x FY21 annualized earnings, which look to be ~2159% premium to the key listed peers i.e. Asian Paints and Berger Paints. While this appears to be priced aggressively, the growth prospects look to be better than peers. Notably, it posted double-digit growth during lockdown in 1HFY21 and given expansion programme, increasing brand awareness, debt reduction, cost controlling measures and huge opportunity from affordable housing segment, IPL can maintain its robust growth momentum and can post superior earnings growth compared to ~14% and ~17% consensus earnings CAGR of Asian Pains and Berger Paints, respectively over FY20-FY23E. Therefore, premium valuations are justified. Hence, we recommend SUBSCRIBE to the issue from a long-term perspective."

  • 10:52 IST:


    Reliance Research said in its note today,"The IPO is valued at 142x FY20 and 129x FY21 annualized earnings, which look to be ~2159% premium to the key listed peers i.e. Asian Paints and Berger Paints. While this appears to be priced aggressively, the growth prospects look to be better than peers. Notably, it posted double-digit growth during lockdown in 1HFY21 and given expansion programme, increasing brand awareness, debt reduction, cost controlling measures and huge opportunity from affordable housing segment, IPL can maintain its robust growth momentum and can post superior earnings growth compared to ~14% and ~17% consensus earnings CAGR of Asian Pains and Berger Paints, respectively over FY20-FY23E. Therefore, premium valuations are justified. Hence, we recommend SUBSCRIBE to the issue from a long-term perspective."

  • Jan 18, 2021 10:41 (IST)

    IRFC IPO outlook

    Geojit in its IPO Note said today," IRFC follows a low risk business model with a margin determined by the MoR at the end of each Fiscal year.

    For FY18-20, revenue grew at a CAGR of 21% while PAT grew by 26% CAGR. In FY20, IRFC reported PAT of Rs.3,192cr on revenue of Rs.13, 421cr. In FY17, 18, 19 and 20, IRFC financed 72%, 93%, 84% and 76%, respectively, of the rolling stock purchased by it and leased to the MoR. From April 1, 2017 to September 30, 2020, IRFC financed Rs. 1.79 trillion to the Indian Railways. At the upper price band of Rs.26, IRFC is available at a P/E of 9x and P/B of 1.1x on an annualized basis, which appears attractive. Considering the extensive expansion plans of the Indian Railways, monopoly in the business, a low risk business model and stable RoE, we assign a Subscribe rating for the issue."

  • 10:41 IST: Geojit in its IPO Note said today," IRFC follows a low risk business model with a margin determined by the MoR at the end of each Fiscal year.

    For FY18-20, revenue grew at a CAGR of 21% while PAT grew by 26% CAGR. In FY20, IRFC reported PAT of Rs.3,192cr on revenue of Rs.13, 421cr. In FY17, 18, 19 and 20, IRFC financed 72%, 93%, 84% and 76%, respectively, of the rolling stock purchased by it and leased to the MoR. From April 1, 2017 to September 30, 2020, IRFC financed Rs. 1.79 trillion to the Indian Railways. At the upper price band of Rs.26, IRFC is available at a P/E of 9x and P/B of 1.1x on an annualized basis, which appears attractive. Considering the extensive expansion plans of the Indian Railways, monopoly in the business, a low risk business model and stable RoE, we assign a Subscribe rating for the issue."

  • Jan 18, 2021 10:37 (IST)

    IRFC, Indigo Paints IPOs to hit market this weeK

    Two companies -- Indian Railway Finance Corporation and Sequoia Capital-backed Indigo Paints -- are set to hit the market with their initial share-sale offers this week to raise an estimated over Rs 5,800 crore.

    The companies are expecting to benefit from an equity market, which is flush with liquidity and has seen a sharp increase in new retail investors.

    The three-day initial share-sale of Indian Railway Finance Corporation (IRFC) would be open for public subscription during January 18-20, while the IPO of Indigo Paints would open on January 20 and conclude on January 22.

    IRFC, Indigo Paints IPOs to hit market this week, eye over Rs 5,800 cr

  • 10:37 IST: Two companies -- Indian Railway Finance Corporation and Sequoia Capital-backed Indigo Paints -- are set to hit the market with their initial share-sale offers this week to raise an estimated over Rs 5,800 crore.

    The companies are expecting to benefit from an equity market, which is flush with liquidity and has seen a sharp increase in new retail investors.

    The three-day initial share-sale of Indian Railway Finance Corporation (IRFC) would be open for public subscription during January 18-20, while the IPO of Indigo Paints would open on January 20 and conclude on January 22.

    IRFC, Indigo Paints IPOs to hit market this week, eye over Rs 5,800 cr

  • Jan 18, 2021 10:31 (IST)

    India among fastest growing markets; investments in local content to continue

    Amazon Prime Video is focussing its investments on bringing more content and expanding its service to a larger audience in India as it is among the fastest-growing markets for the OTT platform globally, said a top company official.

    Amazon Prime Video (APV) recently introduced its mobile-only plan (a global first) for Indian users to reach a wider demographic.

    "We've been in the country for the last four years and growing very steadily...APV is watched in over 4,300 cities and towns in the country, and India is amongst the fastest-growing markets for Prime and APV. Our investments in content across 10 languages, both originals and films, have helped us," Amazon Prime Video India Director and Country General Manager Gaurav Gandhi told news agency PTI.

    India among fastest growing markets; investments in local content to continue: Amazon Prime Video

  • 10:31 IST: Amazon Prime Video is focussing its investments on bringing more content and expanding its service to a larger audience in India as it is among the fastest-growing markets for the OTT platform globally, said a top company official.

    Amazon Prime Video (APV) recently introduced its mobile-only plan (a global first) for Indian users to reach a wider demographic.

    "We've been in the country for the last four years and growing very steadily...APV is watched in over 4,300 cities and towns in the country, and India is amongst the fastest-growing markets for Prime and APV. Our investments in content across 10 languages, both originals and films, have helped us," Amazon Prime Video India Director and Country General Manager Gaurav Gandhi told news agency PTI.

    India among fastest growing markets; investments in local content to continue: Amazon Prime Video

  • Jan 18, 2021 10:02 (IST)

    Investors lose Rs 2.33 lakh crore as Sensex, Nifty suffer worst fall in four weeks

    Investors lost Rs 2.33 lakh crore on across the board profit-booking after Sensex and Nifty suffered their worst fall in four weeks today. Market cap fell to Rs 195.43 lakh crore today falling from a record Rs 197.66 lakh crore in the previous session.

    Benchmark indices, which hit record highs on first four trading days of this week, also followed bearish sentiment in global markets as a proposed US stimulus package failed to surprise.

    While Sensex slumped 549 points or 1.11 per cent to 49,034, Nifty tumbled 161 points or 1.11 per cent to 14,433. However, Nifty rose for a third straight week and Sensex gained for an eleventh straight week. During the week, Sensex gained 252 points or 0.51 per cent and Nifty rose 86 points or 0.60 per cent

    Investors lose Rs 2.33 lakh crore as Sensex, Nifty suffer worst fall in four weeks

  • 10:02 IST: Investors lost Rs 2.33 lakh crore on across the board profit-booking after Sensex and Nifty suffered their worst fall in four weeks today. Market cap fell to Rs 195.43 lakh crore today falling from a record Rs 197.66 lakh crore in the previous session.

    Benchmark indices, which hit record highs on first four trading days of this week, also followed bearish sentiment in global markets as a proposed US stimulus package failed to surprise.

    While Sensex slumped 549 points or 1.11 per cent to 49,034, Nifty tumbled 161 points or 1.11 per cent to 14,433. However, Nifty rose for a third straight week and Sensex gained for an eleventh straight week. During the week, Sensex gained 252 points or 0.51 per cent and Nifty rose 86 points or 0.60 per cent

    Investors lose Rs 2.33 lakh crore as Sensex, Nifty suffer worst fall in four weeks

  • Jan 18, 2021 09:57 (IST)

    Nifty technical outlook

    Reliance Research in its note said," In the last week, NSE-NIFTY remained sideways post recording new high of 14,653-level and later trimmed weekly gain. The index ended week on an indecisive note as formed Doji pattern. On Friday, due to lack of buying interest, the index remained in pressure right from the beginning and slipped to 5-day low. Major technical indicators on the near-term timeframe chart were negatively poised. As per the current set-up, near-term decline cannot be ruled out. This could drag the index towards 14,250-level initially and 14,100 mark subsequently. However on the higher side, its life-time-high of 14,653-level will cap the up-move.

    As for the day, support is placed at around 14,322 and then at 14,210 levels, while resistance is observed at 14,581 and then at 14,729 levels."

  • 09:57 IST: Reliance Research in its note said," In the last week, NSE-NIFTY remained sideways post recording new high of 14,653-level and later trimmed weekly gain. The index ended week on an indecisive note as formed Doji pattern. On Friday, due to lack of buying interest, the index remained in pressure right from the beginning and slipped to 5-day low. Major technical indicators on the near-term timeframe chart were negatively poised. As per the current set-up, near-term decline cannot be ruled out. This could drag the index towards 14,250-level initially and 14,100 mark subsequently. However on the higher side, its life-time-high of 14,653-level will cap the up-move.

    As for the day, support is placed at around 14,322 and then at 14,210 levels, while resistance is observed at 14,581 and then at 14,729 levels."

  • Jan 18, 2021 09:43 (IST)

    Gainers and losers today

    SBI, HDFC Bank, ICICI Bank, RIL were trading as the only gainers in Sensex pack. On the flip side, Nestle, Dr Reddy, Maruti, HCL Tech, Asian Paints, ITC, Nestle, HUL were among the top losers today

     

  • 09:43 IST: SBI, HDFC Bank, ICICI Bank, RIL were trading as the only gainers in Sensex pack. On the flip side, Nestle, Dr Reddy, Maruti, HCL Tech, Asian Paints, ITC, Nestle, HUL were among the top losers today

     

  • Jan 18, 2021 09:38 (IST)

    Opening session: Market turns red

    Market indices reversed trend and fell on Monday, amid heavy selling pressure in metal and realty stocks, tracking cues from weak global equities. Extending fall for the second straight session, Sensex was trading 275 points lower at 48,770 and Nifty fell by 88 points to 14,344.

  • 09:38 IST: Market indices reversed trend and fell on Monday, amid heavy selling pressure in metal and realty stocks, tracking cues from weak global equities. Extending fall for the second straight session, Sensex was trading 275 points lower at 48,770 and Nifty fell by 88 points to 14,344.

  • Jan 18, 2021 09:34 (IST)

    Market technical outlook

    Nirali Shah, Senior Research Analyst, Samco Securities said," The market is overstretched on the upside, so this can cause a short-term dip or weakness in the near term. Infact, S&P 500 index which has been dictating the trend in global equity indices is now trading negative for the week and other emerging markets such as Taiwan (TAIEX) and South Korea (KOSPI) are also trading with a sideways to mild negative bias. A break below 14430 can trigger a profit-booking move in Nifty. Immediate support and resistance in the short term are now placed at 14430 and 14640 respectively and a break on either side will lead to a directional move in the short term."

    She added," Up until the Union Budget, markets are expected to witness unusual hype and hysteria on hopes and expectations from the budget which will drive the volatility even higher. Taking a holistic view, large cap players might not see a significant rise but there could be a lot of buzz in small and midcaps. At current price points, market participants may look for trading bets rather than invest for the long haul. Medium term investment opportunities are still available in pockets like metals, commodities and cyclicals, although they have turned risky. Nifty50 closed the week at 14433.7, up by 0.6%."

  • 09:34 IST: Nirali Shah, Senior Research Analyst, Samco Securities said," The market is overstretched on the upside, so this can cause a short-term dip or weakness in the near term. Infact, S&P 500 index which has been dictating the trend in global equity indices is now trading negative for the week and other emerging markets such as Taiwan (TAIEX) and South Korea (KOSPI) are also trading with a sideways to mild negative bias. A break below 14430 can trigger a profit-booking move in Nifty. Immediate support and resistance in the short term are now placed at 14430 and 14640 respectively and a break on either side will lead to a directional move in the short term."

    She added," Up until the Union Budget, markets are expected to witness unusual hype and hysteria on hopes and expectations from the budget which will drive the volatility even higher. Taking a holistic view, large cap players might not see a significant rise but there could be a lot of buzz in small and midcaps. At current price points, market participants may look for trading bets rather than invest for the long haul. Medium term investment opportunities are still available in pockets like metals, commodities and cyclicals, although they have turned risky. Nifty50 closed the week at 14433.7, up by 0.6%."

  • Jan 18, 2021 09:19 (IST)

    FII action on Friday

    Reliance Research in its note added," In the last week, NSE-NIFTY remained sideways post recording new high of 14,653-level and later trimmed weekly gain. The index ended week on an indecisive note as formed Doji pattern. On Friday, due to lack of buying interest, the index remained in pressure right from the beginning and slipped to 5-day low. Major technical indicators on the near-term timeframe chart were negatively poised. As per the current set-up, near-term decline cannot be ruled out. This could drag the index towards 14,250-level initially and 14,100 mark subsequently. However on the higher side, its life-time-high of 14,653-level will cap the up-move.

    As for the day, support is placed at around 14,322 and then at 14,210 levels, while resistance is observed at 14,581 and then at 14,729 levels."

  • 09:19 IST: Reliance Research in its note added," In the last week, NSE-NIFTY remained sideways post recording new high of 14,653-level and later trimmed weekly gain. The index ended week on an indecisive note as formed Doji pattern. On Friday, due to lack of buying interest, the index remained in pressure right from the beginning and slipped to 5-day low. Major technical indicators on the near-term timeframe chart were negatively poised. As per the current set-up, near-term decline cannot be ruled out. This could drag the index towards 14,250-level initially and 14,100 mark subsequently. However on the higher side, its life-time-high of 14,653-level will cap the up-move.

    As for the day, support is placed at around 14,322 and then at 14,210 levels, while resistance is observed at 14,581 and then at 14,729 levels."

  • Jan 18, 2021 09:14 (IST)

    Q3 Earnings scheduled today

    L&T Finance, Alok Industries, Mindtree, IndiaMart, Trident, Rallis India, IRB Infra, Indiabulls Real Estate, Snowman Logistics will report December quarterly earnings today

     

  • 09:14 IST: L&T Finance, Alok Industries, Mindtree, IndiaMart, Trident, Rallis India, IRB Infra, Indiabulls Real Estate, Snowman Logistics will report December quarterly earnings today

     

  • Jan 18, 2021 09:13 (IST)

    Rupee closing

    On the currency front, Indian rupee, slipped 3 paise to end at 73.07 per dollar today, tracking weakness in equities and strong US currency.

    Kshitij Purohit, Product Manager, Currency & Commodities at CapitalVia Global Research said,"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."

  • 09:13 IST: On the currency front, Indian rupee, slipped 3 paise to end at 73.07 per dollar today, tracking weakness in equities and strong US currency.

    Kshitij Purohit, Product Manager, Currency & Commodities at CapitalVia Global Research said,"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 18, 2021 09:12 (IST)

    Closing

    Equity market saw biggest fall in four weeks today as investors booked profits amid a bearish trend in global markets. After a volatile trading session, Sensex ended 549 points lower at 49,034 and Nifty fell 161 points to 14,433. Yesterday, Sensex ended 91 points higher at a record of 49,584 and Nifty gained 30 points to 14,595.

  • 09:12 IST: Equity market saw biggest fall in four weeks today as investors booked profits amid a bearish trend in global markets. After a volatile trading session, Sensex ended 549 points lower at 49,034 and Nifty fell 161 points to 14,433. Yesterday, Sensex ended 91 points higher at a record of 49,584 and Nifty gained 30 points to 14,595.