Business Today
Loading...

Share Market Highlights: Sensex ends at record high, Nifty at 14,484 for first time; IT stocks lead

January 11,2021 17:09 IST

Sensex, Nifty Highlights on January 11: Market benchmark indices continued hitting fresh record highs on Monday, with Sensex topping 49,000 mark for the first time, tracking gains in IT stocks amid a largely positive trend in global equities and massive FPI inflows. Rising for the second straight session, Sensex ended 486 points higher at 49,269 and Nifty gained by 137 points to 14,484. In today's session, Sensex and Nifty have hit new lifetime highs of 49,300 and 14,498, respectively.

Check Latest Updates

  • India Stock Market Highlights Today: On the Sensex chart, Infosys, HCL Tech, ITC, HDFC Bank, Bharti Airtel, HUL and TCS were among the top gainers. On the other hand, Axis Bank, Maruti, ONGC, Bajaj Finance and Reliance Industries were among the laggards
  • Jan 11, 2021 15:53 (IST)

    Closing session

    Market benchmark indices continued hitting fresh record highs on Monday, with Sensex topping 49,000 mark for the first time, tracking gains in IT stocks amid a largely positive trend in global equities and massive FPI inflows. Rising for the second straight session, Sensex ended 486 points higher at 49,269 and Nifty gained by 137 points to 14,484. In today's session, Sensex and Nifty have hit new lifetime highs of 49,300 and 14,498, respectively. On the Sensex chart, Infosys, HCL Tech, ITC, HDFC Bank, Bharti Airtel, HUL and TCS were among the top gainers. On the other hand, Axis Bank, Maruti, ONGC, Bajaj Finance and Reliance Industries were among the laggards. On Friday, Sensex ended 689 points to 48,782 and Nifty gained by 209 points to 14,347.

  • 15:53 IST: Market benchmark indices continued hitting fresh record highs on Monday, with Sensex topping 49,000 mark for the first time, tracking gains in IT stocks amid a largely positive trend in global equities and massive FPI inflows. Rising for the second straight session, Sensex ended 486 points higher at 49,269 and Nifty gained by 137 points to 14,484. In today's session, Sensex and Nifty have hit new lifetime highs of 49,300 and 14,498, respectively. On the Sensex chart, Infosys, HCL Tech, ITC, HDFC Bank, Bharti Airtel, HUL and TCS were among the top gainers. On the other hand, Axis Bank, Maruti, ONGC, Bajaj Finance and Reliance Industries were among the laggards. On Friday, Sensex ended 689 points to 48,782 and Nifty gained by 209 points to 14,347.

  • Jan 11, 2021 15:47 (IST)

    Bharti Airtel share price gains 2%




    Bharti Airtel share price gained over 2% intraday on Monday following reports that the telecom major received almost all regulatory approvals required to raise foreign direct investment (FDI) in its downstream companies.

    According to sources, Bharti Airtel has got approval from Reserve Bank of India (RBI) and the Foreign Investment Promotion Board (FIFB), to increase FDI up to 74% in its payments bank, Airtel Payments Bank.


    Following the news, Bharti Airtel share price opened higher at Rs 542.80 and later gained 2.62% intraday to Rs 554.40 against the previous closing price of Rs 540.25. Bharti Airtel share price is trading higher than 5, 20, 50, 100 and 200-day moving averages.

  • 15:47 IST:


    Bharti Airtel share price gained over 2% intraday on Monday following reports that the telecom major received almost all regulatory approvals required to raise foreign direct investment (FDI) in its downstream companies.

    According to sources, Bharti Airtel has got approval from Reserve Bank of India (RBI) and the Foreign Investment Promotion Board (FIFB), to increase FDI up to 74% in its payments bank, Airtel Payments Bank.


    Following the news, Bharti Airtel share price opened higher at Rs 542.80 and later gained 2.62% intraday to Rs 554.40 against the previous closing price of Rs 540.25. Bharti Airtel share price is trading higher than 5, 20, 50, 100 and 200-day moving averages.

  • Jan 11, 2021 15:39 (IST)

    Avenue Supermarts share logs all-time high

    Shares of Avenue Supermarts hit all time today after the firm reported an increase of 16.39% in Q3 net profit. The stock opened with a gain of 5.47% at Rs 3,130 on BSE. Later, the large cap share hit fresh high of Rs 3,130.05, rising 5.48% intra day against its previous close of Rs 2,967.  

    The stock has gained 2.21% in the last 3 days. Avenue Supermarts share is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.

    In one year, the share has gained 58.27% and risen 7.4% since the beginning of this year.

    In a month, the share has gained 10.42%.


    Avenue Supermarts share logs all-time high on 16% rise in Q3 net profit

  • 15:39 IST: Shares of Avenue Supermarts hit all time today after the firm reported an increase of 16.39% in Q3 net profit. The stock opened with a gain of 5.47% at Rs 3,130 on BSE. Later, the large cap share hit fresh high of Rs 3,130.05, rising 5.48% intra day against its previous close of Rs 2,967.  

    The stock has gained 2.21% in the last 3 days. Avenue Supermarts share is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.

    In one year, the share has gained 58.27% and risen 7.4% since the beginning of this year.

    In a month, the share has gained 10.42%.


    Avenue Supermarts share logs all-time high on 16% rise in Q3 net profit

  • Jan 11, 2021 15:28 (IST)

    Avenue Supermarts Q3 outlook

     Amarjeet Maurya - AVP - Mid Caps, Angel Broking said," Avenue Supermarts Ltd (ASL) owns and operates the supermarket chain ‘D-MART’. Focused on value retailing, it offers a wide range of fast-moving consumer products, general merchandise and apparel. In 3QFY21, ASL has shown strong recovery and Profit after tax grew ~31%. Going forward, we expect healthy revenue growth on the back of more than 210 D-MART stores (which are expected to increase further) and offer significant discounts compared to other players. Hence, we are positive on stock."

  • 15:28 IST:  Amarjeet Maurya - AVP - Mid Caps, Angel Broking said," Avenue Supermarts Ltd (ASL) owns and operates the supermarket chain ‘D-MART’. Focused on value retailing, it offers a wide range of fast-moving consumer products, general merchandise and apparel. In 3QFY21, ASL has shown strong recovery and Profit after tax grew ~31%. Going forward, we expect healthy revenue growth on the back of more than 210 D-MART stores (which are expected to increase further) and offer significant discounts compared to other players. Hence, we are positive on stock."

  • Jan 11, 2021 15:13 (IST)

    Burger King outlook

    Keshav Lahoti-Associate Equity Analyst, Angel Broking said,"Due to profit booking, Burger Kings hit a lower circuit of 10%. Stock has corrected 30% from it's all time high. Even after such a big correction, stock is offering 150% return from its issue price. In the short term, we expect profit booking to continue and stock to correct more from current level as anchor investors 30 day lock in period from the date of allotment is over. In the last ~6 years of operations in India, the company has opened 268 stores. Looking at the current run rate, we believe management will be able to achieve the target of 700 stores by Dec’26. As the store count will increase, operating leverage will kick in and the company will report better margins. We believe there is ample scope available for the company to increase its business in India. Long term prospects of the company are promising."

     

  • 15:13 IST: Keshav Lahoti-Associate Equity Analyst, Angel Broking said,"Due to profit booking, Burger Kings hit a lower circuit of 10%. Stock has corrected 30% from it's all time high. Even after such a big correction, stock is offering 150% return from its issue price. In the short term, we expect profit booking to continue and stock to correct more from current level as anchor investors 30 day lock in period from the date of allotment is over. In the last ~6 years of operations in India, the company has opened 268 stores. Looking at the current run rate, we believe management will be able to achieve the target of 700 stores by Dec’26. As the store count will increase, operating leverage will kick in and the company will report better margins. We believe there is ample scope available for the company to increase its business in India. Long term prospects of the company are promising."

     

  • Jan 11, 2021 15:02 (IST)

    Market update

    Market benchmark indices continued hitting fresh record highs on Monday, with Sensex topping 49,000 mark for the first time, tracking gains in IT stocks amid largely positive trend in global equities and massive FPI inflows. Sensex was rising 478 points higher at 49,260 and Nifty gained by 135 points to 14,488. In today's session, Sensex and Nifty have hit new lifetime highs of 49,286 and 14, 474, respectively.

  • 15:02 IST: Market benchmark indices continued hitting fresh record highs on Monday, with Sensex topping 49,000 mark for the first time, tracking gains in IT stocks amid largely positive trend in global equities and massive FPI inflows. Sensex was rising 478 points higher at 49,260 and Nifty gained by 135 points to 14,488. In today's session, Sensex and Nifty have hit new lifetime highs of 49,286 and 14, 474, respectively.

  • Jan 11, 2021 14:58 (IST)

    TCS Q3 earnings outlook

    Jyoti Roy - DVP- Equity Strategist, Angel Broking  said," TCS reported a 5.1% qoq growth in revenues to USD 5.7bn which was ahead of street estimates. In rupee terms revenue grew by 4.7% qoq to ₹42,015 crore. Gross profit for the quarter was up 6.5% qoq to ₹ 17,488 crore while gross margins expanded by ~70bps qoq to 41.6%. EBIT for the quarter registered a growth of 6.4% qoq to ₹11,184 crore while EBIT margins expanded by ~40 bps qoq to 26.6% while. Adjusted net profit for the quarter was up by 3.2% qoq to ₹8,727 crore. The Q2FY21 numbers were well above street expectations on all counts, while new deal wins remained strong at USD 6.8bn as compared to USD 8.6bn in Q2FY21. While revenue growth was slightly ahead of estimates, markets were pleasantly surprised by the expansion in margins despite wage hikes during the quarter. Demand environment is expected to remain strong which bodes well for the company and the entire IT sector. While TCS has posted a strong set of numbers for the quarter, Infosys and HCL Tech are also expected to post strong sets of numbers later in the week. Post the TCS Q3 numbers we maintain our positive stance on the sector."


     

  • 14:58 IST: Jyoti Roy - DVP- Equity Strategist, Angel Broking  said," TCS reported a 5.1% qoq growth in revenues to USD 5.7bn which was ahead of street estimates. In rupee terms revenue grew by 4.7% qoq to ₹42,015 crore. Gross profit for the quarter was up 6.5% qoq to ₹ 17,488 crore while gross margins expanded by ~70bps qoq to 41.6%. EBIT for the quarter registered a growth of 6.4% qoq to ₹11,184 crore while EBIT margins expanded by ~40 bps qoq to 26.6% while. Adjusted net profit for the quarter was up by 3.2% qoq to ₹8,727 crore. The Q2FY21 numbers were well above street expectations on all counts, while new deal wins remained strong at USD 6.8bn as compared to USD 8.6bn in Q2FY21. While revenue growth was slightly ahead of estimates, markets were pleasantly surprised by the expansion in margins despite wage hikes during the quarter. Demand environment is expected to remain strong which bodes well for the company and the entire IT sector. While TCS has posted a strong set of numbers for the quarter, Infosys and HCL Tech are also expected to post strong sets of numbers later in the week. Post the TCS Q3 numbers we maintain our positive stance on the sector."


     

  • Jan 11, 2021 14:56 (IST)

    Market outlook

    Ajit Mishra, VP - Research, Religare Broking said," Markets will first react to TCS numbers in early trades on Monday. Besides earnings, global cues and updates on vaccine drive will also remain in focus. At present, the rotational buying across the sectors is helping the index to inch higher and we suggest aligning positions according to the trend. However, traders should avoid going overboard and keep a check on leveraged positions. Technically, the Nifty index has been trading in a rising broadening formation and the upper band of the pattern currently lies around 14,500, which may act as an immediate hurdle."

     

  • 14:56 IST: Ajit Mishra, VP - Research, Religare Broking said," Markets will first react to TCS numbers in early trades on Monday. Besides earnings, global cues and updates on vaccine drive will also remain in focus. At present, the rotational buying across the sectors is helping the index to inch higher and we suggest aligning positions according to the trend. However, traders should avoid going overboard and keep a check on leveraged positions. Technically, the Nifty index has been trading in a rising broadening formation and the upper band of the pattern currently lies around 14,500, which may act as an immediate hurdle."

     

  • Jan 11, 2021 14:35 (IST)

    YES Bank share falls after three sessions

    YES Bank share erased morning gains and traded lower on Monday, even as other banking indices and broader market indices Sensex and Nifty were hitting new record highs.

    Reversing from three days of straight gains, stock of YES Bank opened higher at Rs 18.20 today and fell to the day's low of Rs 17.90, down 1.9% against last close of Rs 18.05. Later, the stock rose to a high of Rs 18.50 on BSE.

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

    YES Bank share falls after three sessions

  • 14:35 IST: YES Bank share erased morning gains and traded lower on Monday, even as other banking indices and broader market indices Sensex and Nifty were hitting new record highs.

    Reversing from three days of straight gains, stock of YES Bank opened higher at Rs 18.20 today and fell to the day's low of Rs 17.90, down 1.9% against last close of Rs 18.05. Later, the stock rose to a high of Rs 18.50 on BSE.

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

    YES Bank share falls after three sessions

  • Jan 11, 2021 14:10 (IST)

    Market outlook

    Binod Modi, Head-Strategy at Reliance Securities said," Domestic equities continue to look firm. Continued improvement in COVID-19 recovery rates and announcement of vaccination process from January 16 would offer comfort to markets. Additionally, robust earnings performance delivered by TCS and expectations of strong 3QFY21 earnings by companies led by sustained rebound in key economic data may propel the market to witness fresh highs in the near term. FPIs flow may continue to remain favourable given the status of the global economy, the stance of global central bankers and the weak dollar".

  • 14:10 IST: Binod Modi, Head-Strategy at Reliance Securities said," Domestic equities continue to look firm. Continued improvement in COVID-19 recovery rates and announcement of vaccination process from January 16 would offer comfort to markets. Additionally, robust earnings performance delivered by TCS and expectations of strong 3QFY21 earnings by companies led by sustained rebound in key economic data may propel the market to witness fresh highs in the near term. FPIs flow may continue to remain favourable given the status of the global economy, the stance of global central bankers and the weak dollar".

  • Jan 11, 2021 13:55 (IST)

    Gold outlook

    Anuj Gupta- DVP- Commodities and Currencies Research, Angel Broking said," Last week gold prices corrected sharply by 2.54% and closed at 48967 levels. Silver prices were also corrected by 5.71% and closed at 64231 levels. Strength in Dollar index and bond yield pressurize the gold and silver prices. However last Friday in  the monthly U.S. employment report showed a loss of 140,000 jobs in December the first negative growth of its kind since April and with a record of 2,667 Americans dying a day on the average from the coronavirus since the start of 2021.
     

    Investors pulled money from the gold as safe haven to plow into Treasuries as U.S. 10-year note yields surged to March highs. People may also sell their Gold ETF holding as they are expecting stability in US Politics with President-elect Biden and as the U.S. begins to speed up their vaccine rollout.

    As for today, traders can go for sell in gold at Rs 49000 levels with the stop loss of Rs 49400 levels for the target of 48200 levels. They can also go for sell  in Silver at Rs 64300 levels, with the stop loss of 65100 levels and for the target of 62500 levels."

  • 13:55 IST: Anuj Gupta- DVP- Commodities and Currencies Research, Angel Broking said," Last week gold prices corrected sharply by 2.54% and closed at 48967 levels. Silver prices were also corrected by 5.71% and closed at 64231 levels. Strength in Dollar index and bond yield pressurize the gold and silver prices. However last Friday in  the monthly U.S. employment report showed a loss of 140,000 jobs in December the first negative growth of its kind since April and with a record of 2,667 Americans dying a day on the average from the coronavirus since the start of 2021.
     

    Investors pulled money from the gold as safe haven to plow into Treasuries as U.S. 10-year note yields surged to March highs. People may also sell their Gold ETF holding as they are expecting stability in US Politics with President-elect Biden and as the U.S. begins to speed up their vaccine rollout.

    As for today, traders can go for sell in gold at Rs 49000 levels with the stop loss of Rs 49400 levels for the target of 48200 levels. They can also go for sell  in Silver at Rs 64300 levels, with the stop loss of 65100 levels and for the target of 62500 levels."

  • Jan 11, 2021 13:34 (IST)

    Rupee falls 24 paise to 73.48 amid strong US dollar, weak Asian currencies

    The rupee depreciated 24 paise to 73.48 against the US dollar in opening trade on Monday, tracking a rebound in the American currency even as domestic equities were trading with significant gains. Weak Asian currencies also continued to weigh on investor sentiment.

    The domestic unit opened at 73.47 against the US dollar at the interbank forex market and fell by 24 paise to 73.48 against the greenback over its previous close.

    On Friday, the rupee had settled at 73.24 against the American currency.

    Rupee falls 24 paise to 73.48 amid strong US dollar, weak Asian currencies

  • 13:34 IST: The rupee depreciated 24 paise to 73.48 against the US dollar in opening trade on Monday, tracking a rebound in the American currency even as domestic equities were trading with significant gains. Weak Asian currencies also continued to weigh on investor sentiment.

    The domestic unit opened at 73.47 against the US dollar at the interbank forex market and fell by 24 paise to 73.48 against the greenback over its previous close.

    On Friday, the rupee had settled at 73.24 against the American currency.

    Rupee falls 24 paise to 73.48 amid strong US dollar, weak Asian currencies

  • Jan 11, 2021 13:29 (IST)

    Goldman, Morgan Stanley, JPMorgan to delist 500 Hong Kong products

    Goldman Sachs, Morgan Stanley and JPMorgan units will delist a total of 500 Hong Kong-listed structured products, Hong Kong stock exchange filings on Sunday showed.

    The delistings are because of statements last week by the US Office of Foreign Assets Control clarifying a November order from President Donald Trump which banned Americans from investing in Chinese companies that the US deems to have links with China's military, the filings said.

    Bourse operator Hong Kong Exchanges and Clearing said in a statement it was "working closely with the relevant issuers to ensure orderly delisting, and facilitate buyback arrangements being arranged by the issuers."

    Goldman, Morgan Stanley, JPMorgan to delist 500 Hong Kong products
     

  • 13:29 IST: Goldman Sachs, Morgan Stanley and JPMorgan units will delist a total of 500 Hong Kong-listed structured products, Hong Kong stock exchange filings on Sunday showed.

    The delistings are because of statements last week by the US Office of Foreign Assets Control clarifying a November order from President Donald Trump which banned Americans from investing in Chinese companies that the US deems to have links with China's military, the filings said.

    Bourse operator Hong Kong Exchanges and Clearing said in a statement it was "working closely with the relevant issuers to ensure orderly delisting, and facilitate buyback arrangements being arranged by the issuers."

    Goldman, Morgan Stanley, JPMorgan to delist 500 Hong Kong products
     

  • Jan 11, 2021 13:11 (IST)

    Nifty technical outlook

    Ajit Mishra, VP - Research, Religare Broking said," Markets will first react to TCS numbers in early trades on Monday. Besides earnings, global cues and updates on vaccine drive will also remain in focus. At present, the rotational buying across the sectors is helping the index to inch higher and we suggest aligning positions according to the trend. However, traders should avoid going overboard and keep a check on leveraged positions. Technically, the Nifty index has been trading in a rising broadening formation and the upper band of the pattern currently lies around 14,500, which may act as an immediate hurdle."

     

  • 13:11 IST: Ajit Mishra, VP - Research, Religare Broking said," Markets will first react to TCS numbers in early trades on Monday. Besides earnings, global cues and updates on vaccine drive will also remain in focus. At present, the rotational buying across the sectors is helping the index to inch higher and we suggest aligning positions according to the trend. However, traders should avoid going overboard and keep a check on leveraged positions. Technically, the Nifty index has been trading in a rising broadening formation and the upper band of the pattern currently lies around 14,500, which may act as an immediate hurdle."

     

  • Jan 11, 2021 13:04 (IST)

    Rupee outlook

    Sugandha Sachdeva VP-Metals, Energy & Currency Research, Religare Broking said," We are witnessing a reversal in the dollar index, while political stability in the U.S. and the probability of a further fiscal stimulus package has pushed the long-term U.S. yields higher. Moreover, there is a possibility that the Fed may reduce its bond buying plan towards the end of this year, which could further push U.S. yields higher and consequently hurt the rupee. Back home, with RBI mopping up dollar inflows, the local currency can test 73.80 to 74 levels in the coming sessions.

    We expect the rupee to trade in a broad range of 73 to 74.20 levels for the rest of this month."

     

  • 13:04 IST: Sugandha Sachdeva VP-Metals, Energy & Currency Research, Religare Broking said," We are witnessing a reversal in the dollar index, while political stability in the U.S. and the probability of a further fiscal stimulus package has pushed the long-term U.S. yields higher. Moreover, there is a possibility that the Fed may reduce its bond buying plan towards the end of this year, which could further push U.S. yields higher and consequently hurt the rupee. Back home, with RBI mopping up dollar inflows, the local currency can test 73.80 to 74 levels in the coming sessions.

    We expect the rupee to trade in a broad range of 73 to 74.20 levels for the rest of this month."

     

  • Jan 11, 2021 12:53 (IST)

    Gold prices crashed 2000 per 10 grams



    Kshitij Purohit, Lead Commodities & Currency at CapitalVia Global Research Limited- Investment Advisor said," Gold prices fell sharply in Indian markets today, On MCX, gold futures fell as much as Rs  2000 to Rs  50,824 per 10 gram as a selloff in global gold price. fall by 4% in a day because of the rise in the dollar index. With the new government almost confirmed US and hopes of large stimulus measures slumps the gold price, US Treasury yields and a climb in the equities toward its all-time closing high, which weighed down gold prices , The dollar has also rebounded and investors are running to book profits. The short-term range is Rs  52000 to Rs  48500 and Its retracement zone at Rs  51800 - 52000 is resistance."

     

  • 12:53 IST:

    Kshitij Purohit, Lead Commodities & Currency at CapitalVia Global Research Limited- Investment Advisor said," Gold prices fell sharply in Indian markets today, On MCX, gold futures fell as much as Rs  2000 to Rs  50,824 per 10 gram as a selloff in global gold price. fall by 4% in a day because of the rise in the dollar index. With the new government almost confirmed US and hopes of large stimulus measures slumps the gold price, US Treasury yields and a climb in the equities toward its all-time closing high, which weighed down gold prices , The dollar has also rebounded and investors are running to book profits. The short-term range is Rs  52000 to Rs  48500 and Its retracement zone at Rs  51800 - 52000 is resistance."

     

  • Jan 11, 2021 12:43 (IST)

    Morning view on the market


    Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services said,"Frenzied buying (FII's bought  Rs 6029 cr last Friday) is taking the markets to unchartered territory. Trend prediction has become extremely difficult. Market is in over - bought zone and there is no valuation comfort in the market. Market consensus that liquidity will remain abundant and interest rates low is driving the market. Risk is the consensus going wrong. TCS results & management commentary are very positive and indicate the improving prospects for the sector. But most positives are in the price."

     

  • 12:43 IST:
    Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services said,"Frenzied buying (FII's bought  Rs 6029 cr last Friday) is taking the markets to unchartered territory. Trend prediction has become extremely difficult. Market is in over - bought zone and there is no valuation comfort in the market. Market consensus that liquidity will remain abundant and interest rates low is driving the market. Risk is the consensus going wrong. TCS results & management commentary are very positive and indicate the improving prospects for the sector. But most positives are in the price."

     

  • Jan 11, 2021 12:32 (IST)

    TCS share hits all-time high post strong Q3 earnings

    Tata Consultancy Services (TCS) share hit its all-time high in early trade today after the IT major reported its strongest December quarter growth in nine years. Share of TCS rose 3.3% to Rs 3,224 against previous close of Rs 3,120 on BSE.

    The IT stock opened with a gain of 3.03% at Rs 3,215. Market cap of the firm rose to Rs 11.87 lakh crore on BSE. TCS share is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages. Total 44.38 lakh shares of the IT giant changed hands on BSE.

    The IT stock has risen 42.87% in one year and gained 10.2% since the beginning of this year. Buoyed by the earnings of TCS, BSE IT index gained 2.77% or 714 points to 26,550 in early trade.

    TCS share hits all-time high post strong Q3 earnings

  • 12:32 IST: Tata Consultancy Services (TCS) share hit its all-time high in early trade today after the IT major reported its strongest December quarter growth in nine years. Share of TCS rose 3.3% to Rs 3,224 against previous close of Rs 3,120 on BSE.

    The IT stock opened with a gain of 3.03% at Rs 3,215. Market cap of the firm rose to Rs 11.87 lakh crore on BSE. TCS share is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages. Total 44.38 lakh shares of the IT giant changed hands on BSE.

    The IT stock has risen 42.87% in one year and gained 10.2% since the beginning of this year. Buoyed by the earnings of TCS, BSE IT index gained 2.77% or 714 points to 26,550 in early trade.

    TCS share hits all-time high post strong Q3 earnings

  • Jan 11, 2021 12:27 (IST)

    Market update

    Market indices traded on a bullish note on Monday, with Sensex topping 49,000 mark for the first time, tracking gains in IT stocks amid largely positive trend in global equities and massive FPI inflows. Sensex was rising 407 points higher at 49,190 and Nifty gained by 104 points to 14,451. In today's session, Sensex and Nifty have hit new lifetime highs of 49,260 and 14, 474, respectively.  On the Sensex chart, Infosys, HCL Tech, ITC, HDFC Bank, Bharti Airtel, HUL and TCS were among the top gainers. On the other hand, Axis Bank, Maruti, ONGC, Bajaj Finance and Reliance Industries were among the laggards. On Friday, reversing from two days of fall, Sensex ended 689 points to 48,782 and Nifty gained by 209 points to 14,347.

  • 12:27 IST: Market indices traded on a bullish note on Monday, with Sensex topping 49,000 mark for the first time, tracking gains in IT stocks amid largely positive trend in global equities and massive FPI inflows. Sensex was rising 407 points higher at 49,190 and Nifty gained by 104 points to 14,451. In today's session, Sensex and Nifty have hit new lifetime highs of 49,260 and 14, 474, respectively.  On the Sensex chart, Infosys, HCL Tech, ITC, HDFC Bank, Bharti Airtel, HUL and TCS were among the top gainers. On the other hand, Axis Bank, Maruti, ONGC, Bajaj Finance and Reliance Industries were among the laggards. On Friday, reversing from two days of fall, Sensex ended 689 points to 48,782 and Nifty gained by 209 points to 14,347.

  • Jan 11, 2021 12:20 (IST)

    Lodha Group plans to file IPO: Will it be third time lucky?

    Macrotech Developers (formerly Lodha Developers), known for its prominent luxury offerings such as the Trump Towers in Mumbai and Grosvenor Square in London, is reportedly planning another attempt to launch an initial public offering (IPO). The decision has been taken in the backdrop of recent spurt in residential sales as well as improved investor sentiment and demand.

    This would be the third attempt by the Mumbai-based real estate developer to list its shares at the bourses. The firm made failed attempts to launch an IPO in 2009 and 2018, but dropped plans citing challenging times for the realty sector.

    Lodha Group plans to file IPO: Will it be third time lucky?

  • 12:20 IST: Macrotech Developers (formerly Lodha Developers), known for its prominent luxury offerings such as the Trump Towers in Mumbai and Grosvenor Square in London, is reportedly planning another attempt to launch an initial public offering (IPO). The decision has been taken in the backdrop of recent spurt in residential sales as well as improved investor sentiment and demand.

    This would be the third attempt by the Mumbai-based real estate developer to list its shares at the bourses. The firm made failed attempts to launch an IPO in 2009 and 2018, but dropped plans citing challenging times for the realty sector.

    Lodha Group plans to file IPO: Will it be third time lucky?

  • Jan 11, 2021 12:10 (IST)

    Nifty Outlook


    Geojit Financial Services said in its morning note, "Nifty is poised towards an expansion in trading range. This would mean that 14540 objective discussed last week, could be achieved in the early part of the week, bringing in 15200 in the picture. Meanwhile 14000 looks to have emerged as a strong base, atleast for the interim, but a break of the same could open flood gates towards 13300."

  • 12:10 IST:
    Geojit Financial Services said in its morning note, "Nifty is poised towards an expansion in trading range. This would mean that 14540 objective discussed last week, could be achieved in the early part of the week, bringing in 15200 in the picture. Meanwhile 14000 looks to have emerged as a strong base, atleast for the interim, but a break of the same could open flood gates towards 13300."

  • Jan 11, 2021 11:58 (IST)

    Global markets today

    Asian markets are trading mixed with Korean shares moving up led by Auto stocks on the back of news that Hyundai and Apple are set to sign partner deal.

    US markets closed higher as investors looked more confident looking past political unrest and weak economy and focused more on prospects of further fiscal stimulus. European markets closed higher on Friday on back of expectation that new US government would come out with bigger fiscal support to help economy.

  • 11:58 IST: Asian markets are trading mixed with Korean shares moving up led by Auto stocks on the back of news that Hyundai and Apple are set to sign partner deal.

    US markets closed higher as investors looked more confident looking past political unrest and weak economy and focused more on prospects of further fiscal stimulus. European markets closed higher on Friday on back of expectation that new US government would come out with bigger fiscal support to help economy.

  • Jan 11, 2021 11:37 (IST)

    Nifty technical outlook

    On markets opening --Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments

    We have achieved our next level of target and resistance which is 14450. If we can keep above this, the next target should be 14600. Since we are in unchartered territory, the target levels are getting smaller. We have a new support for the Nifty between 14200-14250. Intra day dips can be utilised to enter the index for higher targets. Stops must be placed and strict caution should be practiced.

     

  • 11:37 IST: On markets opening --Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments

    We have achieved our next level of target and resistance which is 14450. If we can keep above this, the next target should be 14600. Since we are in unchartered territory, the target levels are getting smaller. We have a new support for the Nifty between 14200-14250. Intra day dips can be utilised to enter the index for higher targets. Stops must be placed and strict caution should be practiced.

     

  • Jan 11, 2021 11:23 (IST)

    Sobha reports 29% rise in sales bookings

    Realty firm Sobha Ltd's sales bookings rose 29 per cent year-on-year to Rs 887.6 crore in the third quarter this fiscal on better housing demand during the festive season. In an operational update for October-December quarter of this fiscal, the Bengaluru-based firm reported a sales bookings of Rs 887.6 crore as against Rs 689.9 crore in the same period previous year.

    The company's sales booking increased on account of rise in volume as well as price realisation. As per the data, Sobha sold 11,33,574 sq ft area in the third quarter of 2020-21 as against 8,91,700 sq ft in the year-ago period. The average price realisation improved to Rs 7,830 from Rs 7,737 per sq ft during the period under review.

    Sobha reports 29% rise in sales bookings in Oct-Dec 2020 due to festive season

  • 11:23 IST: Realty firm Sobha Ltd's sales bookings rose 29 per cent year-on-year to Rs 887.6 crore in the third quarter this fiscal on better housing demand during the festive season. In an operational update for October-December quarter of this fiscal, the Bengaluru-based firm reported a sales bookings of Rs 887.6 crore as against Rs 689.9 crore in the same period previous year.

    The company's sales booking increased on account of rise in volume as well as price realisation. As per the data, Sobha sold 11,33,574 sq ft area in the third quarter of 2020-21 as against 8,91,700 sq ft in the year-ago period. The average price realisation improved to Rs 7,830 from Rs 7,737 per sq ft during the period under review.

    Sobha reports 29% rise in sales bookings in Oct-Dec 2020 due to festive season

  • Jan 11, 2021 11:22 (IST)

    This agri stock gave 250% returns in 9 months

    Shares of Fertilisers and Chemicals Travancore Limited (FACT) hit upper circuit of 20 per cent on the Bombay Stock Exchange (BSE) on Friday amid strong volume. A PSU under the Ministry of Chemicals & Fertilisers, the company's shares have rallied 253 per cent from its 52-week low of Rs 21.55 as on March 13, 2020, on the back of strong demand for fertilisers due to record Kharif and Rabi crop sowing. Investors' appetite for agri-related stocks have increased, thanks to rebound in rural demand despite the coronavirus pandemic and macroeconomic uncertainty.  

    This agri stock gave 250% returns in 9 months

  • 11:22 IST: Shares of Fertilisers and Chemicals Travancore Limited (FACT) hit upper circuit of 20 per cent on the Bombay Stock Exchange (BSE) on Friday amid strong volume. A PSU under the Ministry of Chemicals & Fertilisers, the company's shares have rallied 253 per cent from its 52-week low of Rs 21.55 as on March 13, 2020, on the back of strong demand for fertilisers due to record Kharif and Rabi crop sowing. Investors' appetite for agri-related stocks have increased, thanks to rebound in rural demand despite the coronavirus pandemic and macroeconomic uncertainty.  

    This agri stock gave 250% returns in 9 months

  • Jan 11, 2021 10:39 (IST)

    Cipla recalls 5.8 lakh packets of gastric ulcer treatment drug

    Drug major Cipla is recalling over 5.8 lakh packets of a drug for the reduction in the occurrence of gastric ulcers from the US market, as per a report by the US Food and Drug Administration. The drug major is recalling esomeprazole magnesium for delayed-release oral suspension in unit dose packets in strengths 10 mg, 20 mg and 40 mg in the US market, the latest Enforcement Report by the USFDA said.

    The drug firm has manufactured the affected lot at its Kurkumbh facility in Maharashtra and then supplied to its New Jersey-based subsidiary. The USFDA cited "cross-contamination with other products" as the reason for the company recalling the product. "The excipient, Crospovidone, NF is contaminated with theophylline," it added.

    Cipla recalls 5.8 lakh packets of gastric ulcer treatment drug from US market

  • 10:39 IST: Drug major Cipla is recalling over 5.8 lakh packets of a drug for the reduction in the occurrence of gastric ulcers from the US market, as per a report by the US Food and Drug Administration. The drug major is recalling esomeprazole magnesium for delayed-release oral suspension in unit dose packets in strengths 10 mg, 20 mg and 40 mg in the US market, the latest Enforcement Report by the USFDA said.

    The drug firm has manufactured the affected lot at its Kurkumbh facility in Maharashtra and then supplied to its New Jersey-based subsidiary. The USFDA cited "cross-contamination with other products" as the reason for the company recalling the product. "The excipient, Crospovidone, NF is contaminated with theophylline," it added.

    Cipla recalls 5.8 lakh packets of gastric ulcer treatment drug from US market

  • Jan 11, 2021 10:06 (IST)

    TCS biggest gainer last week

    Tata Consultancy Services (TCS) emerged as the biggest gainer on Dalal Street last week, which saw seven of the top-ten most valued Indian firms add 1,37,396.66 crore to their market valuation.

    During the week under consideration, along with TCS, the HDFC twins, Hindustan Unilever Limited (HUL), Infosys, ICICI Bank and Bharti Airtel featured among gainers. Meanwhile, Reliance Industries Limited (RIL), Kotak Mahindra Bank and Bajaj Finance saw erosion in their market valuation during the week.

    TCS added Rs 72,102.07 crore to its market capitalisation (m-cap) during the peiod, taking it to Rs 11,70,875.36 crore. Rival Infosys added Rs 21,894.28 crore to its market valution, which rose to Rs 5,58,772.73 crore.

    TCS biggest gainer last week; 7 of top 10 firms add Rs 1.37 lakh crore

  • 10:06 IST: Tata Consultancy Services (TCS) emerged as the biggest gainer on Dalal Street last week, which saw seven of the top-ten most valued Indian firms add 1,37,396.66 crore to their market valuation.

    During the week under consideration, along with TCS, the HDFC twins, Hindustan Unilever Limited (HUL), Infosys, ICICI Bank and Bharti Airtel featured among gainers. Meanwhile, Reliance Industries Limited (RIL), Kotak Mahindra Bank and Bajaj Finance saw erosion in their market valuation during the week.

    TCS added Rs 72,102.07 crore to its market capitalisation (m-cap) during the peiod, taking it to Rs 11,70,875.36 crore. Rival Infosys added Rs 21,894.28 crore to its market valution, which rose to Rs 5,58,772.73 crore.

    TCS biggest gainer last week; 7 of top 10 firms add Rs 1.37 lakh crore

  • Jan 11, 2021 10:05 (IST)

    Stocks in news: TCS, Tata Steel, Avenue Supermarts, Airtel, SAIL, PVR, Cipla



    Stocks to watch today on January 11: TCS, Tata Steel, Avenue Supermarts, Airtel, SAIL, PVR, Cipla among others are the top stocks to watch out for in Monday's trading session

    Stocks in news: TCS, Tata Steel, Avenue Supermarts, Airtel, SAIL, PVR, Cipla

  • 10:05 IST:

    Stocks to watch today on January 11: TCS, Tata Steel, Avenue Supermarts, Airtel, SAIL, PVR, Cipla among others are the top stocks to watch out for in Monday's trading session

    Stocks in news: TCS, Tata Steel, Avenue Supermarts, Airtel, SAIL, PVR, Cipla

  • Jan 11, 2021 10:05 (IST)

    Investor wealth shoots to Rs 195 lakh crore as Sensex, Nifty hit new peaks

    Market capitalisation of BSE-listed companies reached a fresh lifetime high of Rs 195.66 lakh crore as benchmark indices snapped two sessions of losses on Friday. Today's rally took the market cap on BSE higher by Rs 2.48 lakh crore. In 2020, market wealth of investors rose by Rs 32.49 lakh crore led by a massive rally in the equity market amid the coronavirus pandemic.

    Sensex gained 15.75% in 2020 despite falling to its multiyear low in March when coronavirus threat roiled the Indian equity market.

    Investor wealth scaled fresh high today as strong buying in IT stocks ahead of TCS' Q3 earnings propelled benchmarks to fresh lifetime highs amid a bullish trend overseas.

    Investor wealth shoots to Rs 195 lakh crore as Sensex, Nifty hit new peaks

  • 10:05 IST: Market capitalisation of BSE-listed companies reached a fresh lifetime high of Rs 195.66 lakh crore as benchmark indices snapped two sessions of losses on Friday. Today's rally took the market cap on BSE higher by Rs 2.48 lakh crore. In 2020, market wealth of investors rose by Rs 32.49 lakh crore led by a massive rally in the equity market amid the coronavirus pandemic.

    Sensex gained 15.75% in 2020 despite falling to its multiyear low in March when coronavirus threat roiled the Indian equity market.

    Investor wealth scaled fresh high today as strong buying in IT stocks ahead of TCS' Q3 earnings propelled benchmarks to fresh lifetime highs amid a bullish trend overseas.

    Investor wealth shoots to Rs 195 lakh crore as Sensex, Nifty hit new peaks

  • Jan 11, 2021 09:56 (IST)

    Gold price plummets by Rs 2,000

    Precious metals tumbled in line with the international market on Friday and traded near the key psychological level of Rs 48K.

    Besides gold, other precious metals like silver and palladium also suffered sharp drops for the second consecutive day, as easing political concerns over the US Senate election in Georgia and a bounce back in dollar dented appeal for the safe-haven commodities.

    Prices further weakened after the 10 years US Treasury yield increased above 1%, its highest levels since March as Democrat control of the US Senate raised the prospects of large stimulus measures.

    On Multi Commodity Exchange of India (MCX), gold futures for February slumped 4% or Rs 2,086 to Rs 48,818 per 10 gram while silver futures tanked Rs 6,112 or 8.8% to Rs 63,850 per kg.

    Gold price plummets by Rs 2,000 on rising bond yields, dollar; silver rates at Rs 63,800

  • 09:56 IST: Precious metals tumbled in line with the international market on Friday and traded near the key psychological level of Rs 48K.

    Besides gold, other precious metals like silver and palladium also suffered sharp drops for the second consecutive day, as easing political concerns over the US Senate election in Georgia and a bounce back in dollar dented appeal for the safe-haven commodities.

    Prices further weakened after the 10 years US Treasury yield increased above 1%, its highest levels since March as Democrat control of the US Senate raised the prospects of large stimulus measures.

    On Multi Commodity Exchange of India (MCX), gold futures for February slumped 4% or Rs 2,086 to Rs 48,818 per 10 gram while silver futures tanked Rs 6,112 or 8.8% to Rs 63,850 per kg.

    Gold price plummets by Rs 2,000 on rising bond yields, dollar; silver rates at Rs 63,800

  • Jan 11, 2021 09:48 (IST)

    Sovereign Gold Bond Scheme 2020-20211(Series X)

    The government in consultation with the Reserve Bank of India will issue its tenth series of Sovereign Gold Bonds 2020-21 (Series X). The issue will open for subscription from January 11 to January 15, 2021 with 19 January 2021 as its settlement date.

    The issue price for the sovereign gold bond has been fixed at Rs 5,104 per gram of gold

    As per the RBI's directive, buyers of sovereign gold bond applying online and making payment through digital mode will get a discount of Rs 50 per gram. For such investors, the issue price of the sovereign gold bond will be Rs 5,054 per gram of gold.

    The issue price for the bonds (Series IX), which were open for subscription from December 28, 2020, to January 1, 2021, was Rs 5,000 per gram of gold.

    Sovereign Gold Bond Scheme 2020-2021: All you need to know about tenth tranche

  • 09:48 IST: The government in consultation with the Reserve Bank of India will issue its tenth series of Sovereign Gold Bonds 2020-21 (Series X). The issue will open for subscription from January 11 to January 15, 2021 with 19 January 2021 as its settlement date.

    The issue price for the sovereign gold bond has been fixed at Rs 5,104 per gram of gold

    As per the RBI's directive, buyers of sovereign gold bond applying online and making payment through digital mode will get a discount of Rs 50 per gram. For such investors, the issue price of the sovereign gold bond will be Rs 5,054 per gram of gold.

    The issue price for the bonds (Series IX), which were open for subscription from December 28, 2020, to January 1, 2021, was Rs 5,000 per gram of gold.

    Sovereign Gold Bond Scheme 2020-2021: All you need to know about tenth tranche

  • Jan 11, 2021 09:40 (IST)

    Market weekly outlook

    Nirali Shah, Senior Research Analyst, Samco Securities said," Markets extended its stride towards all-time highs with unwavering support from broader indices and this excitement is likely to continue till the Budget. While equity markets were enjoying the rally, there was another asset class which zoomed above $40,000 for the first time ever! The recent take off in Bitcoin is luring market participants who are feeling FOMO but this lightening rally in cryptocurrencies also signals that our world is marching towards an inflationary price increase across real (tangible) assets. It is probable that down the line as inflation rises people’s liquid assets will start eroding in value and there will be a decline in purchasing power which then instils the need for alternative real assets such as the Bitcoin. And the cycle from building of inflationary tendencies to erosion in purchasing power could last for atleast 3-5 years. This brings out an opportunity for investors who can focus on companies in the metals and mining, industrial, cement and real estate sectors. Currently, there is buying conviction in the FMCG, IT and pharma stocks but if inflation continues to rise then they may not perform well in the future. Also, if the movement in Bitcoin is any precursor for equity markets then one can expect a massive rally in metals, mining and real estate, industrials and cyclical stocks. The uncertain nature of the pandemic has disrupted many businesses; therefore, some traditional principles of investing are demanding a careful relook. Extended years of underperformance in cyclical, industrial and capital intensive industries may come out as winners for the next few years. Investors are therefore advised to bet on these themes in the equity market.

    Nifty now seems to be heading towards 14500 as it is lacking any significant negative events. On the downside 13950 has been established as an immediate support and a break of the same may trigger a profit-booking move in the short term. The market continues to remain overbought in the short-term and we maintain a cautiously bullish outlook unless the market breaks below 13950."

  • 09:40 IST: Nirali Shah, Senior Research Analyst, Samco Securities said," Markets extended its stride towards all-time highs with unwavering support from broader indices and this excitement is likely to continue till the Budget. While equity markets were enjoying the rally, there was another asset class which zoomed above $40,000 for the first time ever! The recent take off in Bitcoin is luring market participants who are feeling FOMO but this lightening rally in cryptocurrencies also signals that our world is marching towards an inflationary price increase across real (tangible) assets. It is probable that down the line as inflation rises people’s liquid assets will start eroding in value and there will be a decline in purchasing power which then instils the need for alternative real assets such as the Bitcoin. And the cycle from building of inflationary tendencies to erosion in purchasing power could last for atleast 3-5 years. This brings out an opportunity for investors who can focus on companies in the metals and mining, industrial, cement and real estate sectors. Currently, there is buying conviction in the FMCG, IT and pharma stocks but if inflation continues to rise then they may not perform well in the future. Also, if the movement in Bitcoin is any precursor for equity markets then one can expect a massive rally in metals, mining and real estate, industrials and cyclical stocks. The uncertain nature of the pandemic has disrupted many businesses; therefore, some traditional principles of investing are demanding a careful relook. Extended years of underperformance in cyclical, industrial and capital intensive industries may come out as winners for the next few years. Investors are therefore advised to bet on these themes in the equity market.

    Nifty now seems to be heading towards 14500 as it is lacking any significant negative events. On the downside 13950 has been established as an immediate support and a break of the same may trigger a profit-booking move in the short term. The market continues to remain overbought in the short-term and we maintain a cautiously bullish outlook unless the market breaks below 13950."

  • Jan 11, 2021 09:38 (IST)

    Opening session

    Market indices opened on a bullish note on Monday, amid positive global equities. SGX Nifty on the Singapore Exchange was rising by 90 points, indicating positive trend in domestic grounds today. Sensex was rising 407 points higher at 49,190 and Nifty gained by 104 points to 14,451. In today's session, Sensex and Nifty have hit new lifetime highs of 49,260 and 14, 474, respectively.

  • 09:38 IST: Market indices opened on a bullish note on Monday, amid positive global equities. SGX Nifty on the Singapore Exchange was rising by 90 points, indicating positive trend in domestic grounds today. Sensex was rising 407 points higher at 49,190 and Nifty gained by 104 points to 14,451. In today's session, Sensex and Nifty have hit new lifetime highs of 49,260 and 14, 474, respectively.

  • Jan 11, 2021 09:24 (IST)

    Global market today

    Overseas, Asian stocks are trading mixed on Monday, with South Korean stocks surging again on the back of big gains last week. Shares in South Korea's auto sector surged again on Monday following reports that Hyundai Motor and Apple are set to sign a partnership deal on autonomous electric cars. Markets in Japan are closed on Monday for a holiday.

    In US, Wall Street scaled new highs on Friday as hopes of more stimulus from Washington were bolstered after U.S. President-elect Joe Biden said his economic package will be in the trillions of dollars.

    In economic data, the US economy shed jobs for the first time in eight months in December.

  • 09:24 IST: Overseas, Asian stocks are trading mixed on Monday, with South Korean stocks surging again on the back of big gains last week. Shares in South Korea's auto sector surged again on Monday following reports that Hyundai Motor and Apple are set to sign a partnership deal on autonomous electric cars. Markets in Japan are closed on Monday for a holiday.

    In US, Wall Street scaled new highs on Friday as hopes of more stimulus from Washington were bolstered after U.S. President-elect Joe Biden said his economic package will be in the trillions of dollars.

    In economic data, the US economy shed jobs for the first time in eight months in December.

  • Jan 11, 2021 09:24 (IST)

    FII data

    Foreign portfolio investors (FPIs) bought shares worth Rs 6,029.83 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 2,372.54 crore in the Indian equity market on 8 January, provisional data showed.


     

  • 09:24 IST: Foreign portfolio investors (FPIs) bought shares worth Rs 6,029.83 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 2,372.54 crore in the Indian equity market on 8 January, provisional data showed.


     

  • Jan 11, 2021 09:24 (IST)

    Market outlook

    Reliance Research in its note said," Continuing its weekly rising trend, NSE-NIFTY ended on a positive note. In the last week, the index twice closed in loss out of five trading sessions and reported gain of 2.4%. On Friday, the index bounced after a flat move and recorded new high of 14,367-level. Major technical indicators are in favour of bulls. We believe that the index will extend its northward journey and will test higher level. This could lead the index towards 14,500-14,650 level. In case of decline, the index will find support at 14,100 level initially and 13,950 mark subsequently.

    As for the day, support is placed at around 14,088 and then at 14,039 levels, while resistance is observed at 14,221 and then at 14,305 levels.

  • 09:24 IST: Reliance Research in its note said," Continuing its weekly rising trend, NSE-NIFTY ended on a positive note. In the last week, the index twice closed in loss out of five trading sessions and reported gain of 2.4%. On Friday, the index bounced after a flat move and recorded new high of 14,367-level. Major technical indicators are in favour of bulls. We believe that the index will extend its northward journey and will test higher level. This could lead the index towards 14,500-14,650 level. In case of decline, the index will find support at 14,100 level initially and 13,950 mark subsequently.

    As for the day, support is placed at around 14,088 and then at 14,039 levels, while resistance is observed at 14,221 and then at 14,305 levels.

  • Jan 11, 2021 09:16 (IST)

    Market outlook

    Vinod Nair, Head of Research at Geojit Financial Services said,"This week witnessed the markets reaching fresh record highs on a daily basis which was fuelled by positive global cues, optimism on vaccine rollout, healthy business figures reported by banking and auto companies and hopes of strong quarterly outcomes. The global markets, showcased an upbeat movement owing to the democratic control of the US Senate and hopes of speedy economic rebound due to the vaccine,  set the trends for the domestic markets which followed suit. Broader markets outperformed benchmark indices contributing to the rally.

     

    The focus of the Indian markets have currently shifted to third quarter earnings. Healthy business figures reported by banking and auto sectors have led to a better quarterly outlook which is likely to continue in the coming week keeping the sectors in the limelight. The outcome of the TCS quarterly result which is to be released today will dictate the opening mood of the IT index next week. In the coming week, the market also awaits major data points like inflation rate, industrial production data etc to define momentum for the manufacturing sector

  • 09:16 IST: Vinod Nair, Head of Research at Geojit Financial Services said,"This week witnessed the markets reaching fresh record highs on a daily basis which was fuelled by positive global cues, optimism on vaccine rollout, healthy business figures reported by banking and auto companies and hopes of strong quarterly outcomes. The global markets, showcased an upbeat movement owing to the democratic control of the US Senate and hopes of speedy economic rebound due to the vaccine,  set the trends for the domestic markets which followed suit. Broader markets outperformed benchmark indices contributing to the rally.

     

    The focus of the Indian markets have currently shifted to third quarter earnings. Healthy business figures reported by banking and auto sectors have led to a better quarterly outlook which is likely to continue in the coming week keeping the sectors in the limelight. The outcome of the TCS quarterly result which is to be released today will dictate the opening mood of the IT index next week. In the coming week, the market also awaits major data points like inflation rate, industrial production data etc to define momentum for the manufacturing sector

  • Jan 11, 2021 09:15 (IST)

    Closing on Friday

    Market indices closed at record highs on Friday, amid positive global equities, with IT stocks, HDFC Bank and RIL leading the rally. Reversing from two days of fall, Sensex ended 689 points to 48,782 and Nifty gained by 209 points to 14,347. During the session, Sensex hit a new high of 48,854 and Nifty lit a lifetime high of 14,367.

    Tech Mahindra, Infosys, UltraTech Cement, Power Grid Corporation of India, NTPC, Sun Pharma, HCL technologies were among top gainers. On the other hand, IndusInd Bank, Bharti Airtel, State Bank of India (SBI), ITC, Housing Development Finance Corporation (HDFC) and Bajaj Finance were among the top laggards.



    Tech Mahindra, Infosys, UltraTech Cement, Power Grid Corporation of India, NTPC, Sun Pharma, HCL technologies were among top gainers. On the other hand, IndusInd Bank, Bharti Airtel, State Bank of India (SBI), ITC, Housing Development Finance Corporation (HDFC) and Bajaj Finance were among the top laggards.

    Sensex, Nifty scale record closing highs: Five factors behind the rally

  • 09:15 IST: Market indices closed at record highs on Friday, amid positive global equities, with IT stocks, HDFC Bank and RIL leading the rally. Reversing from two days of fall, Sensex ended 689 points to 48,782 and Nifty gained by 209 points to 14,347. During the session, Sensex hit a new high of 48,854 and Nifty lit a lifetime high of 14,367.

    Tech Mahindra, Infosys, UltraTech Cement, Power Grid Corporation of India, NTPC, Sun Pharma, HCL technologies were among top gainers. On the other hand, IndusInd Bank, Bharti Airtel, State Bank of India (SBI), ITC, Housing Development Finance Corporation (HDFC) and Bajaj Finance were among the top laggards.



    Tech Mahindra, Infosys, UltraTech Cement, Power Grid Corporation of India, NTPC, Sun Pharma, HCL technologies were among top gainers. On the other hand, IndusInd Bank, Bharti Airtel, State Bank of India (SBI), ITC, Housing Development Finance Corporation (HDFC) and Bajaj Finance were among the top laggards.

    Sensex, Nifty scale record closing highs: Five factors behind the rally