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Share Market Highlights: Sensex, Nifty end muted after hitting record highs; M&M, SBI, NTPC, ITC top gainers

January 13,2021 15:59 IST

Sensex, Nifty Highlights on January 13: After a positive start, market indices turned volatile by the afternoon session and closed muted on Wednesday, amid mixed global equities. Erasing early gains, Sensex  ended 24 points lower at 49,494 and Nifty closed 1point higher at 14,564. In today's session, Sensex and Nifty hit new lifetime highs of 49,795 and 14,653, respectively. Yesterday, Sensex ended 247 points higher at 49,517 and Nifty gained 78 points to 14,563.

 

 

 

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

Check Latest Updates

  • India Stock Market Highlights Today: Infosys, Wipro, 5paisa Capital, Amtek Auto, Asian Tea & Exports, CESC, Capital Trade Links, GTPL Hathway, Mideast (India) and Rajoo Engineers will announce their quarterly earnings today
  • Jan 13, 2021 15:58 (IST)

    Closing

    After a positive start, market indices turned volatile by the afternoon session and closed muted on Wednesday, amid mixed global equities. Erasing early gains, Sensex  ended 24 points lower at 49,494 and Nifty closed 1point higher at 14,564. In today's session, Sensex and Nifty hit new lifetime highs of 49,795 and 14,653, respectively.

  • 15:58 IST: After a positive start, market indices turned volatile by the afternoon session and closed muted on Wednesday, amid mixed global equities. Erasing early gains, Sensex  ended 24 points lower at 49,494 and Nifty closed 1point higher at 14,564. In today's session, Sensex and Nifty hit new lifetime highs of 49,795 and 14,653, respectively.

  • Jan 13, 2021 15:49 (IST)

    Nifty outlook

    Sahaj Agrawal, Head of Research- Derivative at Kotak Securities said,"Nifty has achieved a long range target of 14640 and is now expected to witness increased  volatility going ahead. For Traders, 15100 can be expected on the higher side with momentum support seen at 14280. Aggressive buying is advisable below the 14000 mark. Banking and Energy stocks are expected to outperform in the near term."

  • 15:49 IST: Sahaj Agrawal, Head of Research- Derivative at Kotak Securities said,"Nifty has achieved a long range target of 14640 and is now expected to witness increased  volatility going ahead. For Traders, 15100 can be expected on the higher side with momentum support seen at 14280. Aggressive buying is advisable below the 14000 mark. Banking and Energy stocks are expected to outperform in the near term."

  • Jan 13, 2021 15:33 (IST)

    Market outlook

    S Ranganathan, Head of Research at LKP Securities said, "A Volatile day indeed with Indices swinging both ways ahead of Earnings today from the two IT biggies. The highlight of the day was the spirited upmove put up by the State-Owned Banks in Afternoon Trade"

  • 15:33 IST: S Ranganathan, Head of Research at LKP Securities said, "A Volatile day indeed with Indices swinging both ways ahead of Earnings today from the two IT biggies. The highlight of the day was the spirited upmove put up by the State-Owned Banks in Afternoon Trade"

  • Jan 13, 2021 15:27 (IST)

    Nifty technical outlook

    Ashis Bisas, Head of Technical Research at CapitalVia Global Research said,"Today, the market failed to show resilience to stay above the level of 14600 and we saw profit booking in the market. As of now, the short-term technical condition of the market shows that the expected range of the market is likely to be between 14380 and 14680. While it is subject to further price action evolution, our research suggests it is prudent to wait for a decisive breakout above 14680 and technical factors to improve before going long in the market. As such we retain our cautious stance and advise the traders to refrain from building a fresh buying position, until we see further improvement and breakout above 14680."

     

  • 15:27 IST: Ashis Bisas, Head of Technical Research at CapitalVia Global Research said,"Today, the market failed to show resilience to stay above the level of 14600 and we saw profit booking in the market. As of now, the short-term technical condition of the market shows that the expected range of the market is likely to be between 14380 and 14680. While it is subject to further price action evolution, our research suggests it is prudent to wait for a decisive breakout above 14680 and technical factors to improve before going long in the market. As such we retain our cautious stance and advise the traders to refrain from building a fresh buying position, until we see further improvement and breakout above 14680."

     

  • Jan 13, 2021 15:12 (IST)

    IRFC IPO


    The Rs 4,634-crore Indian Railway Finance Corporation (IRFC) initial public offer (IPO) is scheduled to open on January 18, and close for subscription on January 20, 2021. The price band of the issue is in the range of Rs 25-26 per share of face value of Rs 10 each.

    As per the red herring prospectus (RHP), the issue is of up to 178.20 crore shares, comprising a fresh issue of 59.43 crore equity shares and offer-for-sale of up to 118.80 crore shares.  

    The bids for the issue can be made for a minimum of 575 equity shares and in multiples thereafter. Up to 50% of the net issue is reserved for Qualified Institutional Buyers (QIB). Company has reserved not more than 35% of the issue for the retail investors and the remaining 15% for Non-Institutional category.

  • 15:12 IST:
    The Rs 4,634-crore Indian Railway Finance Corporation (IRFC) initial public offer (IPO) is scheduled to open on January 18, and close for subscription on January 20, 2021. The price band of the issue is in the range of Rs 25-26 per share of face value of Rs 10 each.

    As per the red herring prospectus (RHP), the issue is of up to 178.20 crore shares, comprising a fresh issue of 59.43 crore equity shares and offer-for-sale of up to 118.80 crore shares.  

    The bids for the issue can be made for a minimum of 575 equity shares and in multiples thereafter. Up to 50% of the net issue is reserved for Qualified Institutional Buyers (QIB). Company has reserved not more than 35% of the issue for the retail investors and the remaining 15% for Non-Institutional category.

  • Jan 13, 2021 15:00 (IST)

    YES Bank share price hits lower circuit today


    YES Bank shares erased morning gains and fell 5% to hit the lower ciruit of Rs 17.15 on Wednesday, even as other banking indices and broader market indices Sensex and Nifty were hitting new record highs.
     
    Reversing from yesterday's gains, stock of YES Bank opened at Rs 18.20 today and fell to the day's low of Rs 17.15, down 5% against last close of Rs 18.05. The stock rose to a high of Rs 18.30 on BSE in early session.

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


    The stock has fallen 2% in one week and over 8% in a month. Year to date, the stock has fallen 1%.

  • 15:00 IST:
    YES Bank shares erased morning gains and fell 5% to hit the lower ciruit of Rs 17.15 on Wednesday, even as other banking indices and broader market indices Sensex and Nifty were hitting new record highs.
     
    Reversing from yesterday's gains, stock of YES Bank opened at Rs 18.20 today and fell to the day's low of Rs 17.15, down 5% against last close of Rs 18.05. The stock rose to a high of Rs 18.30 on BSE in early session.

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


    The stock has fallen 2% in one week and over 8% in a month. Year to date, the stock has fallen 1%.

  • Jan 13, 2021 14:45 (IST)

    Market update

    After a positive start, market indices turned volatile by the afternoon session and traded lower on Wednesday, amid mixed global equities. Erasing early gains, Sensex was trading 150 points lower at 49,364 and Nifty fell by 35 points to 14,530.

  • 14:45 IST: After a positive start, market indices turned volatile by the afternoon session and traded lower on Wednesday, amid mixed global equities. Erasing early gains, Sensex was trading 150 points lower at 49,364 and Nifty fell by 35 points to 14,530.

  • Jan 13, 2021 14:44 (IST)

    Top losers and gainers

    On Sensex, Titan, Kotak Bank, Dr Reddy's, TCS and HCL Tech were among the laggards. On the other hand, Bharti Airtel, ONGC, SBI, ICICI Bank, M&M, NTPC, L&T and Axis Bank were among the top gainers.

     

  • 14:44 IST: On Sensex, Titan, Kotak Bank, Dr Reddy's, TCS and HCL Tech were among the laggards. On the other hand, Bharti Airtel, ONGC, SBI, ICICI Bank, M&M, NTPC, L&T and Axis Bank were among the top gainers.

     

  • Jan 13, 2021 14:44 (IST)

    Outlook and read across for Indian IT sector

    Phillips Capital in its report said,"More important than the Q4CY20 ISG dealflow data, was the CY21 outlook. The growth forecast in the Traditional and As-a-service augurs well for the Indian IT companies, and reinforces our long term positive stance of (1) strong fundamentals, (2) IT companies benefitting from accelerated digital adoption and (3) strong recovery in FY22 on pent up demand. In the short to medium term however, with recent appreciation in USD INR, overhang of a possible rise in US corporates tax rates and valuations bordering on expensive, we believe the sector could remain sideways. Maintain BUY on TCS, Infosys and HCL Tech (in largecaps) – and on Mindtree, and Mphasis (in midcaps). TechM and Cyient remain SELL for us."


    In Q4, only Europe saw large deals with high contract values. India's Service G saw 40% reduction in volume of large deals in CY20 due to pandemic. ISG believes decision making now is at pre pandemic levels. Sales, Transitions and Delivery are now happening virtually and client comfort is there. Demand drivers: Rationalize legacy apps with cloud delivery model, Cyber Security, Platform adoptions – (in BFSI, Healthcare & Life sciences) and CX. Pipeline: Traditional deals pipeline is very healthy. ISG expecting large deals which got pushed out in Americas to get signed in coming Q1 and Q2 of CY21.

  • 14:44 IST: Phillips Capital in its report said,"More important than the Q4CY20 ISG dealflow data, was the CY21 outlook. The growth forecast in the Traditional and As-a-service augurs well for the Indian IT companies, and reinforces our long term positive stance of (1) strong fundamentals, (2) IT companies benefitting from accelerated digital adoption and (3) strong recovery in FY22 on pent up demand. In the short to medium term however, with recent appreciation in USD INR, overhang of a possible rise in US corporates tax rates and valuations bordering on expensive, we believe the sector could remain sideways. Maintain BUY on TCS, Infosys and HCL Tech (in largecaps) – and on Mindtree, and Mphasis (in midcaps). TechM and Cyient remain SELL for us."


    In Q4, only Europe saw large deals with high contract values. India's Service G saw 40% reduction in volume of large deals in CY20 due to pandemic. ISG believes decision making now is at pre pandemic levels. Sales, Transitions and Delivery are now happening virtually and client comfort is there. Demand drivers: Rationalize legacy apps with cloud delivery model, Cyber Security, Platform adoptions – (in BFSI, Healthcare & Life sciences) and CX. Pipeline: Traditional deals pipeline is very healthy. ISG expecting large deals which got pushed out in Americas to get signed in coming Q1 and Q2 of CY21.

  • Jan 13, 2021 14:40 (IST)

    Gold outlook

    Anuj Gupta- DVP- Commodities and Currencies Research, Angel Broking said," On Monday, Spot Gold ended higher by 0.6 percent to close at $1844.7 per ounce as President Joe Biden voiced the need for additional economic relief fund to tackle the coronavirus pandemic. Also, worsening of the global economic scenario and mounting worries over the new virus strain kept the demand for the safe haven, Gold elevated. The gains for Gold were limited as rise in the US Treasury yield and revival in the Dollar after the democrats won the U.S. Senate elections which opened gates for further monetary policy easing. Hopes of recovery in the economic scenario led to the recent surge in the US Treasury yield denting appeal for the safe haven, Gold..
     

    On Monday, Spot silver prices increased by 2.6 percent to close at $25.6 per ounce while Silver prices on the MCX gained about 0.5 percent closing at Rs.65,906 per kg.

     

    As of today traders can go for sell in Gold at 49600 levels with the stop loss of 50100 for the target of 48700 levels. Also sell silver at 66600 levels with the stop loss of 67300 levels for the target of 64500 levels."

  • 14:40 IST: Anuj Gupta- DVP- Commodities and Currencies Research, Angel Broking said," On Monday, Spot Gold ended higher by 0.6 percent to close at $1844.7 per ounce as President Joe Biden voiced the need for additional economic relief fund to tackle the coronavirus pandemic. Also, worsening of the global economic scenario and mounting worries over the new virus strain kept the demand for the safe haven, Gold elevated. The gains for Gold were limited as rise in the US Treasury yield and revival in the Dollar after the democrats won the U.S. Senate elections which opened gates for further monetary policy easing. Hopes of recovery in the economic scenario led to the recent surge in the US Treasury yield denting appeal for the safe haven, Gold..
     

    On Monday, Spot silver prices increased by 2.6 percent to close at $25.6 per ounce while Silver prices on the MCX gained about 0.5 percent closing at Rs.65,906 per kg.

     

    As of today traders can go for sell in Gold at 49600 levels with the stop loss of 50100 for the target of 48700 levels. Also sell silver at 66600 levels with the stop loss of 67300 levels for the target of 64500 levels."

  • Jan 13, 2021 14:17 (IST)

    Jammu & Kashmir Bank share price gains 10% today



    Jammu & Kashmir Bank share price gained 10% intraday on Wednesday to Rs 30.55 against the previous closing price of Rs 27.80 after ace investor Swapnil Mehta bought 36.70 lakh shares (0.51%) at Rs 26.54 per share and sold 21.70 lakh shares at Rs 26.48 per share

  • 14:17 IST:

    Jammu & Kashmir Bank share price gained 10% intraday on Wednesday to Rs 30.55 against the previous closing price of Rs 27.80 after ace investor Swapnil Mehta bought 36.70 lakh shares (0.51%) at Rs 26.54 per share and sold 21.70 lakh shares at Rs 26.48 per share

  • Jan 13, 2021 14:00 (IST)

    Sensex nears 50,000: Five big risks that could disrupt the rally on Dalal Street

    The barometer of stock market, the Bombay Stock Exchange's (BSE)  30-share index Sensex, is within kissing distance of key 50,000 mark. It's a remarkable feat as the index rose from 25,638 points in March last year after the outbreak of Covid  and the news of subsequent lockdown. Sensex has almost doubled in a year's time. This frenzy in the market is expected to continue due to roll-out of vaccine globally, normalisation of business operations  and the monetary and fiscal support from the government. Like they say , everything that goes up, comes down. What are the big risks or things that could disrupt the rally and bring down the market.

    Sensex nears 50,000: Five big risks that could disrupt the rally on Dalal Street

  • 14:00 IST: The barometer of stock market, the Bombay Stock Exchange's (BSE)  30-share index Sensex, is within kissing distance of key 50,000 mark. It's a remarkable feat as the index rose from 25,638 points in March last year after the outbreak of Covid  and the news of subsequent lockdown. Sensex has almost doubled in a year's time. This frenzy in the market is expected to continue due to roll-out of vaccine globally, normalisation of business operations  and the monetary and fiscal support from the government. Like they say , everything that goes up, comes down. What are the big risks or things that could disrupt the rally and bring down the market.

    Sensex nears 50,000: Five big risks that could disrupt the rally on Dalal Street

  • Jan 13, 2021 13:53 (IST)

    Indigo Paints IPO opens on 20 January


    The Rs 1,000 crore initial public offering (IPO) for Indigo Paints will be open for subscription on January 20, 2021 and close on January 22. The company received a nod from market watchdog Securities and Exchange Board of India (SEBI) earlier in January. The Sequoia Capital-backed company has filed preliminary papers with SEBI for the IPO in November last year.

    Indigo Paints’ plan to raise about Rs 1,000 crore through the public issue from the capital markets, that comprises fresh issuance of shares of Rs 300 crore and an offer-for-sale of up to 58,40,000 equity shares by Investor Selling Shareholder Sequoia Capital through its SCI Investments IV and SCI Investments V and Promoter Selling Shareholder, Hemant Jalan.

  • 13:53 IST:
    The Rs 1,000 crore initial public offering (IPO) for Indigo Paints will be open for subscription on January 20, 2021 and close on January 22. The company received a nod from market watchdog Securities and Exchange Board of India (SEBI) earlier in January. The Sequoia Capital-backed company has filed preliminary papers with SEBI for the IPO in November last year.

    Indigo Paints’ plan to raise about Rs 1,000 crore through the public issue from the capital markets, that comprises fresh issuance of shares of Rs 300 crore and an offer-for-sale of up to 58,40,000 equity shares by Investor Selling Shareholder Sequoia Capital through its SCI Investments IV and SCI Investments V and Promoter Selling Shareholder, Hemant Jalan.

  • Jan 13, 2021 13:51 (IST)

    Bharti Airtel share rises over 6%

    Share of Bharti Airtel rose over 6 per cent today after the company said it has received approvals for relevant downstream investments post FDI nod from the Department of Telecommunications. Bharti Airtel stock touched an intraday high of Rs 601.8, rising 6.37% against previous close of Rs 565.75 on BSE.

    The large cap stock has gained 8.42% in the last 3 days. The stock opened with a gain of 3.93% at Rs 588.

    Bharti Airtel share is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.

    Bharti Airtel share rises over 6% after telco receives nod to raise FDI limit

  • 13:51 IST: Share of Bharti Airtel rose over 6 per cent today after the company said it has received approvals for relevant downstream investments post FDI nod from the Department of Telecommunications. Bharti Airtel stock touched an intraday high of Rs 601.8, rising 6.37% against previous close of Rs 565.75 on BSE.

    The large cap stock has gained 8.42% in the last 3 days. The stock opened with a gain of 3.93% at Rs 588.

    Bharti Airtel share is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.

    Bharti Airtel share rises over 6% after telco receives nod to raise FDI limit

  • Jan 13, 2021 13:43 (IST)

    India Real Estate sector update





    Manish Agrawal from JM Financial Institutional Securities said,"As real estate consolidation picks up pace in the post pandemic era we look at the historical data points and see how it has panned out over the years. We note in Tier 1 cities (Bangalore, Chennai, Kolkata, Hyderabad, MMR, NCR and Pune) the share of projects from top 25 developers has gone up to 5% in CY19 (3% in CY16) while the share in units has gone up to 14% in CY20 (10% in CY16; peak of 16% in CY19). We further delve deeper and observe markets like Gurugram and Noida have seen maximum consolidation (63% / 82% share of units launched by top 10 developers in CY19-20 respectively) while Hyderabad has actually seen the share of top 10 developers go down over the years (24% in CY11-12 to 18% in CY19-20) as competition has stepped up on launches. Even in the listed space, we find mid-sized developers looking to scale-up opportunistically by launching projects and acquiring new land parcels (Birla Estates: started in FY16 and has 3.6msf under construction; Kolte Patil: targets 2x sales in 3-4 years; Mahindra Lifespaces: targets 2.5x sales in 3-4 years; Sunteck Realty: has done large acquisitions in MMR region). While we believe the consolidation will increase going further but the extent of it remains to be seen."

  • 13:43 IST:



    Manish Agrawal from JM Financial Institutional Securities said,"As real estate consolidation picks up pace in the post pandemic era we look at the historical data points and see how it has panned out over the years. We note in Tier 1 cities (Bangalore, Chennai, Kolkata, Hyderabad, MMR, NCR and Pune) the share of projects from top 25 developers has gone up to 5% in CY19 (3% in CY16) while the share in units has gone up to 14% in CY20 (10% in CY16; peak of 16% in CY19). We further delve deeper and observe markets like Gurugram and Noida have seen maximum consolidation (63% / 82% share of units launched by top 10 developers in CY19-20 respectively) while Hyderabad has actually seen the share of top 10 developers go down over the years (24% in CY11-12 to 18% in CY19-20) as competition has stepped up on launches. Even in the listed space, we find mid-sized developers looking to scale-up opportunistically by launching projects and acquiring new land parcels (Birla Estates: started in FY16 and has 3.6msf under construction; Kolte Patil: targets 2x sales in 3-4 years; Mahindra Lifespaces: targets 2.5x sales in 3-4 years; Sunteck Realty: has done large acquisitions in MMR region). While we believe the consolidation will increase going further but the extent of it remains to be seen."

  • Jan 13, 2021 13:26 (IST)

    Brent crude futures at 11 month high

    Brent crude futures, the global oil benchmark, rose 1.34 per cent to USD 57.34 per barrel. Oil price hit 11 month high as restricted crude supply and expectation of fall in US crude inventories overshadowed concerns regarding rising covid-19 cases.

  • 13:26 IST: Brent crude futures, the global oil benchmark, rose 1.34 per cent to USD 57.34 per barrel. Oil price hit 11 month high as restricted crude supply and expectation of fall in US crude inventories overshadowed concerns regarding rising covid-19 cases.

  • Jan 13, 2021 13:15 (IST)

    Rupee surges 13 paise to 73.12

    Indian rupee, the domestic currency appreciated for the second straight session, rising 13 paise to 73.12 per dollar on Wednesday's opening trade, as heavy buying in domestic equities and weakness of the American currency in the overseas market lifted investor sentiment. Moreover, FPI flows into the domestic equity markets also supported the domestic unit.

    The domestic unit opened at 73.16 per dollar at the interbank forex market, inched 13 paise higher to 73.12 against the greenback over its previous close.

    On Tuesday, the domestic currency recouped yesterday's losses and closed 15 paise higher at 73.25, supported by weakness in the greenback overseas and recovery in domestic equities.

    Rupee surges 13 paise to 73.12 amid weak dollar, positive FPI flows

  • 13:15 IST: Indian rupee, the domestic currency appreciated for the second straight session, rising 13 paise to 73.12 per dollar on Wednesday's opening trade, as heavy buying in domestic equities and weakness of the American currency in the overseas market lifted investor sentiment. Moreover, FPI flows into the domestic equity markets also supported the domestic unit.

    The domestic unit opened at 73.16 per dollar at the interbank forex market, inched 13 paise higher to 73.12 against the greenback over its previous close.

    On Tuesday, the domestic currency recouped yesterday's losses and closed 15 paise higher at 73.25, supported by weakness in the greenback overseas and recovery in domestic equities.

    Rupee surges 13 paise to 73.12 amid weak dollar, positive FPI flows

  • Jan 13, 2021 13:14 (IST)

    Tata Elxsi share rises 11%

    Tata Elxsi share rose nearly 11% today after the product design arm of the Tata Group reported a 39.5 per cent rise in Q3 net profit. Share of Tata Elxsi touched an all-time high of Rs 2,299.9, rising 10.73% against the previous close of Rs 2,087.60 on BSE.

    The stock opened with a gain of 4.86% at Rs 2,150.

    Tata Elxsi share is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages. The stock has gained 23.24% since the beginning of this year and risen 153.46% since the beginning of this year.

    In a month, the mid cap share has gained 40.8%. Market cap of the firm rose to Rs 14,076 crore.

    Tata Elxsi share rises 11% post strong Q3 earnings

  • 13:14 IST: Tata Elxsi share rose nearly 11% today after the product design arm of the Tata Group reported a 39.5 per cent rise in Q3 net profit. Share of Tata Elxsi touched an all-time high of Rs 2,299.9, rising 10.73% against the previous close of Rs 2,087.60 on BSE.

    The stock opened with a gain of 4.86% at Rs 2,150.

    Tata Elxsi share is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages. The stock has gained 23.24% since the beginning of this year and risen 153.46% since the beginning of this year.

    In a month, the mid cap share has gained 40.8%. Market cap of the firm rose to Rs 14,076 crore.

    Tata Elxsi share rises 11% post strong Q3 earnings

  • Jan 13, 2021 13:02 (IST)

    CPI inflation & IIP data

    Deepthi Mathew, Economist at Geojit Financial Services.

    "After eight months, the inflation rate has fallen back to the permissible range. The decline is mainly contributed by the fall in food prices, especially vegetables. Vegetable price registered a negative growth rate of 10.4 per cent YoY in December'20. Though the fall in inflation was a relief,  contraction in IIP is a cause of concern. It shows the weak demand in the economy. The manufacturing sector contracted by 1.68 per cent in November'20, compared to a growth of 4.12 per cent in October'20. Festive demand aided the positive growth in October"

     

  • 13:02 IST: Deepthi Mathew, Economist at Geojit Financial Services.

    "After eight months, the inflation rate has fallen back to the permissible range. The decline is mainly contributed by the fall in food prices, especially vegetables. Vegetable price registered a negative growth rate of 10.4 per cent YoY in December'20. Though the fall in inflation was a relief,  contraction in IIP is a cause of concern. It shows the weak demand in the economy. The manufacturing sector contracted by 1.68 per cent in November'20, compared to a growth of 4.12 per cent in October'20. Festive demand aided the positive growth in October"

     

  • Jan 13, 2021 13:01 (IST)

    Nifty Outlook





    Geojit Financial Services said in its note," After stalling an hour or so near 14540, our first objective, Nifty marched ahead, ideally heading for 15200. Meanwhile 14700 appears an intermediate objective, with 14470/40 as the downside marker for the day."

     

  • 13:01 IST:



    Geojit Financial Services said in its note," After stalling an hour or so near 14540, our first objective, Nifty marched ahead, ideally heading for 15200. Meanwhile 14700 appears an intermediate objective, with 14470/40 as the downside marker for the day."

     

  • Jan 13, 2021 12:16 (IST)

    Global markets



    Asian markets are trading mixed as investors look for details on coronavirus front. Japan to expand state of emergency to more areas.

    US markets closed slightly higher as weakness in tech stock blocked big gains. Investors expect more positivity ahead as vaccine rollout and more govt. spending could boost economy. European markets closed on a mixed note as investors remained concerned over spike in coronavirus cases and political developments in US.

     

  • 12:16 IST:

    Asian markets are trading mixed as investors look for details on coronavirus front. Japan to expand state of emergency to more areas.

    US markets closed slightly higher as weakness in tech stock blocked big gains. Investors expect more positivity ahead as vaccine rollout and more govt. spending could boost economy. European markets closed on a mixed note as investors remained concerned over spike in coronavirus cases and political developments in US.

     

  • Jan 13, 2021 12:00 (IST)

    Outlook for Real Estate sector




    Raman Gupta, Director-Branding and Construction, GBP Group says, "We are looking at the upcoming Budget with great expectations as it might turn out to be a day when profound policy decisions can be announced to smoothen the functioning of the real estate sector. This year's budget is going to be laying the roadmap for developments as per the prevalent new normal. Real estate, being the second largest employer in the country, is currently undergoing a sensitive time, as buyers are interested, developers want to deliver timely but some policies need quick addressal to give timely possession of the properties to their customers. Single window clearance, issues related to Input Tax Credit being some prominent ones. The construction raw materials have reported a spike in their prices due to the disrupted supply chain, which if subsidized will resolve multiple roadblocks for construction and real estate industries."

  • 12:00 IST:


    Raman Gupta, Director-Branding and Construction, GBP Group says, "We are looking at the upcoming Budget with great expectations as it might turn out to be a day when profound policy decisions can be announced to smoothen the functioning of the real estate sector. This year's budget is going to be laying the roadmap for developments as per the prevalent new normal. Real estate, being the second largest employer in the country, is currently undergoing a sensitive time, as buyers are interested, developers want to deliver timely but some policies need quick addressal to give timely possession of the properties to their customers. Single window clearance, issues related to Input Tax Credit being some prominent ones. The construction raw materials have reported a spike in their prices due to the disrupted supply chain, which if subsidized will resolve multiple roadblocks for construction and real estate industries."

  • Jan 13, 2021 11:57 (IST)

    Market turns muted after hitting highs

    After a positive start, market indices turned volatile by the afternoon session and traded tad lower on Wednesday, amid mixed global equities. Erasing early gains, Sensex was trading 30 points lower at 49,484 and Nifty fell by 2 points to 14,560.

    In today's session, Sensex and Nifty hit new lifetime highs of 49,776 and 14,645, respectively.

  • 11:57 IST: After a positive start, market indices turned volatile by the afternoon session and traded tad lower on Wednesday, amid mixed global equities. Erasing early gains, Sensex was trading 30 points lower at 49,484 and Nifty fell by 2 points to 14,560.

    In today's session, Sensex and Nifty hit new lifetime highs of 49,776 and 14,645, respectively.

  • Jan 13, 2021 11:33 (IST)

    Market techical outlook

     Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services said,"The decline in CPI inflation to 4.59% is a big positive for markets. But the steady rise in crude is an area of concern. Looks like Sensex is headed for 50000. But there are bumps ahead. The market is likely to turn highly volatile during the budget. Since valuations are high and investors are sitting on good profits, partial profit booking can be considered at every rise. It is impossible to time the market"

     

  • 11:33 IST:  Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services said,"The decline in CPI inflation to 4.59% is a big positive for markets. But the steady rise in crude is an area of concern. Looks like Sensex is headed for 50000. But there are bumps ahead. The market is likely to turn highly volatile during the budget. Since valuations are high and investors are sitting on good profits, partial profit booking can be considered at every rise. It is impossible to time the market"

     

  • Jan 13, 2021 11:23 (IST)

    Nifty technical outlook

     On markets opening --Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments said,"We have achieved the 14600 level. The key resistance patch is now between 14650-14750. It needs to be seen how markets react here. Is it going to resist or fly out of those levels like all other resistance levels have been treated over the past couple of months? If we can get past the 14750 level on a closing basis, we should be headed towards 15000. The current support range for the Nifty is 14200-14250."

     

  • 11:23 IST:  On markets opening --Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments said,"We have achieved the 14600 level. The key resistance patch is now between 14650-14750. It needs to be seen how markets react here. Is it going to resist or fly out of those levels like all other resistance levels have been treated over the past couple of months? If we can get past the 14750 level on a closing basis, we should be headed towards 15000. The current support range for the Nifty is 14200-14250."

     

  • Jan 13, 2021 10:58 (IST)

    Oil prices rise as US crude gains for seventh day

    Oil prices rose on Wednesday, with US crude gaining for a seventh day, after an industry report showed a further drop in inventories and investors shrugged off worsening developments in the pandemic. US West Texas Intermediate (WTI) was up 40 cents, or 0.8%, at $53.61 a barrel by 0128 GMT after gaining nearly 2% on Tuesday. Brent crude was up 47 cents, or 0.8%, at $57.05, having risen 1.7% in the previous session.

    Both benchmarks are trading at the highest since February, before the coronavirus outbreak in China began spreading across the world and billions of people went into lockdowns to prevent a pandemic that is now in a deadlier second wave. Prices are shrugging off the latest developments in Europe and the United States where death tolls and new infections keep rising, with the focus on rollouts of vaccines, however patchy, but risks to the market remain.

    Oil prices rise as US crude gains for seventh day

  • 10:58 IST: Oil prices rose on Wednesday, with US crude gaining for a seventh day, after an industry report showed a further drop in inventories and investors shrugged off worsening developments in the pandemic. US West Texas Intermediate (WTI) was up 40 cents, or 0.8%, at $53.61 a barrel by 0128 GMT after gaining nearly 2% on Tuesday. Brent crude was up 47 cents, or 0.8%, at $57.05, having risen 1.7% in the previous session.

    Both benchmarks are trading at the highest since February, before the coronavirus outbreak in China began spreading across the world and billions of people went into lockdowns to prevent a pandemic that is now in a deadlier second wave. Prices are shrugging off the latest developments in Europe and the United States where death tolls and new infections keep rising, with the focus on rollouts of vaccines, however patchy, but risks to the market remain.

    Oil prices rise as US crude gains for seventh day

  • Jan 13, 2021 10:53 (IST)

    Stocks in news: SBI, Wipro, Tata Motors, Tata Elxsi, Airtel, Tech Mahindra, Hero MotoCorp



    Stocks to watch today on January 13: SBI, Wipro, Tata Motors, Tata Elxsi, Airtel, Tech Mahindra, Hero MotoCorp among others are the top stocks to watch out for in Wednesday's trading session

    Stocks in news: SBI, Wipro, Tata Motors, Tata Elxsi, Airtel, Tech Mahindra, Hero MotoCorp

  • 10:53 IST:

    Stocks to watch today on January 13: SBI, Wipro, Tata Motors, Tata Elxsi, Airtel, Tech Mahindra, Hero MotoCorp among others are the top stocks to watch out for in Wednesday's trading session

    Stocks in news: SBI, Wipro, Tata Motors, Tata Elxsi, Airtel, Tech Mahindra, Hero MotoCorp

  • Jan 13, 2021 10:43 (IST)

    Gold outlook for today

    Anuj Gupta- DVP- Commodities and Currencies Research, Angel Broking said," Today Gold price corrected by 0.54% and trading at 49075 levels on the back of strength of Dollar and increase in US Bond yields. Traders are expecting stability in US economy as Biden won the US election and over optimism on US economy. Silver trading at 0.11% higher and trading at 65585 levels. It is expecting that gold may fade out its safe haven demand as people looking towards US Dollar for investment.

     

    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 of now traders can go for sell in Gold at 49200 levels with the stop loss of 49550 for the target of 48700 levels. Also sell silver at 65800 levels with the stop loss of 66300 levels for the target of 64500 levels."

  • 10:43 IST: Anuj Gupta- DVP- Commodities and Currencies Research, Angel Broking said," Today Gold price corrected by 0.54% and trading at 49075 levels on the back of strength of Dollar and increase in US Bond yields. Traders are expecting stability in US economy as Biden won the US election and over optimism on US economy. Silver trading at 0.11% higher and trading at 65585 levels. It is expecting that gold may fade out its safe haven demand as people looking towards US Dollar for investment.

     

    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 of now traders can go for sell in Gold at 49200 levels with the stop loss of 49550 for the target of 48700 levels. Also sell silver at 65800 levels with the stop loss of 66300 levels for the target of 64500 levels."

  • Jan 13, 2021 10:30 (IST)

    IIP data

    On the macro front, the Index of Industrial Production (IIP) contracted 1.9% for November 2020, data released on Tuesday showed. The factory output in the country had grown at 3.6% in October. India's Consumer Price Index (CPI) eased to 4.59% in December from 6.93% in November.


     

  • 10:30 IST: On the macro front, the Index of Industrial Production (IIP) contracted 1.9% for November 2020, data released on Tuesday showed. The factory output in the country had grown at 3.6% in October. India's Consumer Price Index (CPI) eased to 4.59% in December from 6.93% in November.


     

  • Jan 13, 2021 10:11 (IST)

    Global markets


    Geojit Financial said in its note,"Overseas, Asian stocks are trading mixed on Wednesday morning trade as investors watch for developments on the coronavirus front. In corporate news, Hong Kong-listed shares of Lenovo jumped after the firm announced Tuesday a proposed issuance and admission of Chinese depositary receipts on the Shanghai Stock Exchange's Science and Technology Innovation Board.

    The Japanese government is set to expand the state of emergency to more areas on Wednesday, as per reports. That comes after Japanese Prime Minister Yoshihide Suga recently declared a state of emergency in Tokyo and three other areas in a bid to stem a rise in coronavirus infections. Meanwhile, local Chinese authorities in regions near Beijing are reportedly stepping up restrictions on social activity following a rise in new coronavirus cases.

    In US, stocks closed along the flatline on Tuesday as traders weighed higher rates, possible stimulus and political turmoil.

    Investors will watch for developments from Washington, with the U.S. House set to push ahead with efforts to remove President Donald Trump from office over his role in sparking last week's deadly attack on the Capitol. U.S. Vice President Mike Pence, however, said Tuesday night he will not remove Trump from office. The developments came just days ahead of President-elect Joe Biden's inauguration on January 20."

  • 10:11 IST:
    Geojit Financial said in its note,"Overseas, Asian stocks are trading mixed on Wednesday morning trade as investors watch for developments on the coronavirus front. In corporate news, Hong Kong-listed shares of Lenovo jumped after the firm announced Tuesday a proposed issuance and admission of Chinese depositary receipts on the Shanghai Stock Exchange's Science and Technology Innovation Board.

    The Japanese government is set to expand the state of emergency to more areas on Wednesday, as per reports. That comes after Japanese Prime Minister Yoshihide Suga recently declared a state of emergency in Tokyo and three other areas in a bid to stem a rise in coronavirus infections. Meanwhile, local Chinese authorities in regions near Beijing are reportedly stepping up restrictions on social activity following a rise in new coronavirus cases.

    In US, stocks closed along the flatline on Tuesday as traders weighed higher rates, possible stimulus and political turmoil.

    Investors will watch for developments from Washington, with the U.S. House set to push ahead with efforts to remove President Donald Trump from office over his role in sparking last week's deadly attack on the Capitol. U.S. Vice President Mike Pence, however, said Tuesday night he will not remove Trump from office. The developments came just days ahead of President-elect Joe Biden's inauguration on January 20."

  • Jan 13, 2021 10:00 (IST)

    Nifty outlook

    Sameet Chavan (Chief Analyst-Technical and Derivatives, Angel Broking) said, "Barring a couple of days breather in the previous week, the markets continued its merry run in the new calendar year as well. Almost every day in the first half, market gives small correction and that decline is getting bought into comfortably by the bulls. Honestly, we have not seen such kind of optimism over the past decade or so and hence, it's becoming difficult to ride this move now. In fact, the contrarian bets from retail participants are not letting the markets fall, which is the practical aspect of the relentless move. Without thinking much, it's better to follow levels and take one step at a time. On the higher side, 14600 is the next level to watch; whereas on the lower side,  14500 - 14430 - 14380 to be seen as immediate supports."

  • 10:00 IST: Sameet Chavan (Chief Analyst-Technical and Derivatives, Angel Broking) said, "Barring a couple of days breather in the previous week, the markets continued its merry run in the new calendar year as well. Almost every day in the first half, market gives small correction and that decline is getting bought into comfortably by the bulls. Honestly, we have not seen such kind of optimism over the past decade or so and hence, it's becoming difficult to ride this move now. In fact, the contrarian bets from retail participants are not letting the markets fall, which is the practical aspect of the relentless move. Without thinking much, it's better to follow levels and take one step at a time. On the higher side, 14600 is the next level to watch; whereas on the lower side,  14500 - 14430 - 14380 to be seen as immediate supports."

  • Jan 13, 2021 09:52 (IST)

    Indigo Paints upcoming IPO




    Keshav Lahoti-Associate Equity Analyst, Angel Broking said,"Indigo Paints are the fastest growing amongst the top five paint companies in India. Company is the fifth largest company in the Indian decorative paint industry in terms of their revenue from operations for Fiscal 2020. Company manufactures a complete range of decorative paints including emulsions, enamels, wood coatings, distempers, primers, putties and cement paints. Company has increased its profits manifold from F.Y. 2018 to F.Y. 2020 by increasing it from Rs. 12.8 cr to Rs. 47.8 cr especially due to improvement in the gross margins. Company revenue from operations have grown at a CAGR of 41.9% between Fiscal 2010 and Fiscal 2019, compared to the range of 12.1% to 13.1% recorded by the top four paint companies in India. Although, Company margins and return on capital are lower than industry leading players like Asian Paints, Berger Paints. If the issue is priced reasonably, we expect a good response for this IPO. We expect the Indigo Paints issue to start within the next two weeks.

     

  • 09:52 IST:


    Keshav Lahoti-Associate Equity Analyst, Angel Broking said,"Indigo Paints are the fastest growing amongst the top five paint companies in India. Company is the fifth largest company in the Indian decorative paint industry in terms of their revenue from operations for Fiscal 2020. Company manufactures a complete range of decorative paints including emulsions, enamels, wood coatings, distempers, primers, putties and cement paints. Company has increased its profits manifold from F.Y. 2018 to F.Y. 2020 by increasing it from Rs. 12.8 cr to Rs. 47.8 cr especially due to improvement in the gross margins. Company revenue from operations have grown at a CAGR of 41.9% between Fiscal 2010 and Fiscal 2019, compared to the range of 12.1% to 13.1% recorded by the top four paint companies in India. Although, Company margins and return on capital are lower than industry leading players like Asian Paints, Berger Paints. If the issue is priced reasonably, we expect a good response for this IPO. We expect the Indigo Paints issue to start within the next two weeks.

     

  • Jan 13, 2021 09:42 (IST)

    FII data

    Foreign portfolio investors (FPIs) bought shares worth Rs 571.47 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 1,334.50 crore in the Indian equity market on 12 January, provisional data showed.


     

  • 09:42 IST: Foreign portfolio investors (FPIs) bought shares worth Rs 571.47 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 1,334.50 crore in the Indian equity market on 12 January, provisional data showed.


     

  • Jan 13, 2021 09:34 (IST)

    Opening session

    Market indices continued hitting record highs for the fourth straight session on Wednesday, amid mixed global equities. SGX Nifty on the Singapore Exchange was rising by 90 points, indicating positive trend in domestic grounds today. Sensex was trading 200 points higher at 49,710 and Nifty gained by 60 points to 14,625. In today's session, Sensex and Nifty hit new lifetime highs of 49,776 and 14,645, respectively.

  • 09:34 IST: Market indices continued hitting record highs for the fourth straight session on Wednesday, amid mixed global equities. SGX Nifty on the Singapore Exchange was rising by 90 points, indicating positive trend in domestic grounds today. Sensex was trading 200 points higher at 49,710 and Nifty gained by 60 points to 14,625. In today's session, Sensex and Nifty hit new lifetime highs of 49,776 and 14,645, respectively.

  • Jan 13, 2021 09:25 (IST)

    Earnings today

    Infosys, Wipro, 5paisa Capital, Amtek Auto, Asian Tea & Exports, CESC, Capital Trade Links, GTPL Hathway, Mideast (India) and Rajoo Engineers will announce their quarterly earnings today.

     

  • 09:25 IST: Infosys, Wipro, 5paisa Capital, Amtek Auto, Asian Tea & Exports, CESC, Capital Trade Links, GTPL Hathway, Mideast (India) and Rajoo Engineers will announce their quarterly earnings today.

     

  • Jan 13, 2021 09:22 (IST)

    Nifty technical outlook

    Reliance Research in its note said," NSE-NIFTY extended gain post a strong start for the week. Yesterday, up-beat global cues and strength across rate sensitive space, especially Realty and PSU Banks supported the up-move. Major technical indicators remained in favour of bulls. As mentioned earlier, we believe that undergoing positive momentum will continue. This could lead the index towards 14,650-14,800 level. In case of decline, the index will find support at 14,250 level initially and 14,100 mark subsequently."

    As for the day, support is placed at around 14,467 and then at 14,371 levels, while resistance is observed at 14,625 and then at 14,687 levels.

  • 09:22 IST: Reliance Research in its note said," NSE-NIFTY extended gain post a strong start for the week. Yesterday, up-beat global cues and strength across rate sensitive space, especially Realty and PSU Banks supported the up-move. Major technical indicators remained in favour of bulls. As mentioned earlier, we believe that undergoing positive momentum will continue. This could lead the index towards 14,650-14,800 level. In case of decline, the index will find support at 14,250 level initially and 14,100 mark subsequently."

    As for the day, support is placed at around 14,467 and then at 14,371 levels, while resistance is observed at 14,625 and then at 14,687 levels.

  • Jan 13, 2021 09:19 (IST)

    Nifty outlook

    Ajit Mishra, VP - Research, Religare Broking said,"Markets will react to the macroeconomic data (IIP & CPI) in early trade on Wednesday. Further, earnings announcements from select IT majors such as Infosys and Wipro would also remain on the participants' radar. We advise participants to align their positions according to the trend but strictly avoid overleveraging at current levels."

  • 09:19 IST: Ajit Mishra, VP - Research, Religare Broking said,"Markets will react to the macroeconomic data (IIP & CPI) in early trade on Wednesday. Further, earnings announcements from select IT majors such as Infosys and Wipro would also remain on the participants' radar. We advise participants to align their positions according to the trend but strictly avoid overleveraging at current levels."

  • Jan 13, 2021 09:18 (IST)

    Rupee outlook

    On the currency front, Indian rupee, the domestic currency recouped yesterday's losses and closed 15 paise higher at 73.25, supported by weakness in the greenback overseas and recovery in domestic equities.

    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."

  • 09:18 IST:

    On the currency front, Indian rupee, the domestic currency recouped yesterday's losses and closed 15 paise higher at 73.25, supported by weakness in the greenback overseas and recovery in domestic equities.

    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 13, 2021 09:18 (IST)

    Closing

    Market indices continued hitting record highs for the third straight session and ended on a bullish note on Tuesday, amid mixed global equities. Sensex ended 247 points higher at 49,517 and Nifty gained 78 points to 14,563.

    Sensex and Nifty hit new lifetime highs of 49,479 and 14,563, respectively. Reliance Industries, L&T, Bharti Airtel, ITC, Bajaj Finserv and TCS were among the gainers on Sensex chart.

  • 09:18 IST: Market indices continued hitting record highs for the third straight session and ended on a bullish note on Tuesday, amid mixed global equities. Sensex ended 247 points higher at 49,517 and Nifty gained 78 points to 14,563.

    Sensex and Nifty hit new lifetime highs of 49,479 and 14,563, respectively. Reliance Industries, L&T, Bharti Airtel, ITC, Bajaj Finserv and TCS were among the gainers on Sensex chart.