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Share Market Highlights: Sensex ends at record high, Nifty at 14,595; L&T, ITC, RIL, Bajaj twins top gainers

BusinessToday.In, | January 14,2021 17:05 IST

Sensex, Nifty Highlights on January 14: In a volatile trading session, market indices reversed trend and closed on a bullish note, near record highs on Thursday, tracking cues from mixed global equities. Sensex ended by 91 points at 49,584 and Nifty gained by 30 points to 14,595. Yesterday, Sensex ended 24 points lower at 49,494 and Nifty closed 1 point higher at 14,564. In the last session, Sensex and Nifty hit new lifetime highs of 49,795 and 14,653, respectively. Meanwhile, December  quarterly earnings announcements by Den Networks, HFCL, Reliance Industrial Infrastructure, Tata Steel Long Products, Websol Energy System and Digicontent will also set the tone for the stock market today. As per traders, consistent foreign inflows along with better quarterly results are continuing to set the pace of the broad market. IndusInd Bank, ITC, L&T, Bajaj Auto and Kotak Bank were among the gainers. On the other hand, HCL Tech, Infosys, Tech Mahindra, Asian Paints, UltraTech Cement and Bajaj Finance were among the top losers on Sensex pack.

 

 

 

 

 

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

Check Latest Updates

KEY UPDATES

  • India Stock Market Highlights Today: Den Networks, HFCL, Reliance Industrial Infrastructure, Tata Steel Long Products, Websol Energy System and Digicontent will announce their December quarterly earnings today.
  • Jan 14, 2021 15:52 (IST)

    Closing

    In a volatile trading session, market indices reversed trend and closed on a bullish note, near record highs on Thursday, tracking cues from mixed global equities. Sensex ended by 91 points at 49,584 and Nifty gained by 30 points to 14,595. Yesterday, Sensex ended 24 points lower at 49,494 and Nifty closed 1 point higher at 14,564. In the last session, Sensex and Nifty hit new lifetime highs of 49,795 and 14,653, respectively.

  • 15:52 IST: In a volatile trading session, market indices reversed trend and closed on a bullish note, near record highs on Thursday, tracking cues from mixed global equities. Sensex ended by 91 points at 49,584 and Nifty gained by 30 points to 14,595. Yesterday, Sensex ended 24 points lower at 49,494 and Nifty closed 1 point higher at 14,564. In the last session, Sensex and Nifty hit new lifetime highs of 49,795 and 14,653, respectively.

  • Jan 14, 2021 15:49 (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.

  • 15:49 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 14, 2021 15:36 (IST)

    Nifty technical outlook

    Ashis Biswas, Head of Technical Research at CapitalVia Global Research Limited- Investment Advisor said,"The market witnessed some swift recovery after the initial fall at the start. Market continues to show resilience to stay above 14600. A significant breakout above the levels of 14680 could result in improvement of market breadth and the market can rally till the levels of 14870. 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.


     

  • 15:36 IST: Ashis Biswas, Head of Technical Research at CapitalVia Global Research Limited- Investment Advisor said,"The market witnessed some swift recovery after the initial fall at the start. Market continues to show resilience to stay above 14600. A significant breakout above the levels of 14680 could result in improvement of market breadth and the market can rally till the levels of 14870. 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 14, 2021 15:21 (IST)

    Adani Green share price jumps 5%


    Adani Green share price touched an intraday high of Rs 967.55 (5%), after  Adani Trading Services LLP, a promoter entity of Adani Green, sold 2 crore shares of Adani Green Energy Ltd worth over Rs 1,840 through open market transactions.

    According to the block deal data available with the BSE, Adani Trading Services had divested 2,00,96,000 scrips of the company in the price range of Rs 906 to 916.15.

     

  • 15:21 IST:
    Adani Green share price touched an intraday high of Rs 967.55 (5%), after  Adani Trading Services LLP, a promoter entity of Adani Green, sold 2 crore shares of Adani Green Energy Ltd worth over Rs 1,840 through open market transactions.

    According to the block deal data available with the BSE, Adani Trading Services had divested 2,00,96,000 scrips of the company in the price range of Rs 906 to 916.15.

     

  • Jan 14, 2021 15:19 (IST)

    Indigo Paints to launch IPO on January 20




    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.

  • 15:19 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 14, 2021 15:00 (IST)

    Sensex at 1,00,000! When and how?

    With the S&P BSE Sensex a few hundred points away from the 50,000-mark on Thursday, marketmen believe it's only a matter of couple of days for the 30-share index to touch the milestone. It took roughly 10 months for the BSE index to almost double and reach the mark from a low of 25,981.24 on March 23. But, can such rallies continue and Sensex hit 1,00,000 in visible future?

    The next 50,000 points aren't going to come by that easy, say analysts. Why? The index first hit 25,000 in 2014 after the BJP-led NDA government came to power with a record majority. It has been a tumultuous seven-year journey from 25,000 to 50,000.

    Sensex at 1,00,000! When and how?

  • 15:00 IST: With the S&P BSE Sensex a few hundred points away from the 50,000-mark on Thursday, marketmen believe it's only a matter of couple of days for the 30-share index to touch the milestone. It took roughly 10 months for the BSE index to almost double and reach the mark from a low of 25,981.24 on March 23. But, can such rallies continue and Sensex hit 1,00,000 in visible future?

    The next 50,000 points aren't going to come by that easy, say analysts. Why? The index first hit 25,000 in 2014 after the BJP-led NDA government came to power with a record majority. It has been a tumultuous seven-year journey from 25,000 to 50,000.

    Sensex at 1,00,000! When and how?

  • Jan 14, 2021 14:54 (IST)

    Indigo paints at GMP of Rs 800




    Yash Gupta Equity Research Associate, Angel Broking said,"As per the different market news grey market premium of Indigo paints has increased from 400 to 800 in the last couple of days. As per the news Indigo paints coming up with the IPO on 20th Jan to 22thJan 2021 and expected IPO price range of 1480-1500.


    Indigo paints is one of the fastest growing paint company in India,  listed players have grown in between 5-12% and company able to grow by more than 15.8% in last 3 years and outperformed the listed players. Indigo paints is the 5th largest company in the decorative paint industry.

    In FY2020 Indigo paints reported sales growth of 16.6% and peers reported sales growth of 3-5% even though some of the peers have reported negative sales growth. Indigo paints reported ROE of 24.3% in FY20 which is slightly lower than the Asian and Berger paints but better than Kansai Nerolac and Akzonobel.

    Indigo paints have doubled its PAT margins from 3.2% in FY2018 to 7.7% in FY20 while peers like Asian paints and Berger paints are able to increase margins by 2.5% and 3.4% respectively.

    Currently Asian paints and Berger paints trading at PE of 111 and 148 respectively and Indigo paints reported EPS of 10.49 valuing IPO at 149 at higher price band. We expect the GMP premium of Indigo paints to consolidate in a couple of days. We have a positive outlook towards the IPO."

  • 14:54 IST:


    Yash Gupta Equity Research Associate, Angel Broking said,"As per the different market news grey market premium of Indigo paints has increased from 400 to 800 in the last couple of days. As per the news Indigo paints coming up with the IPO on 20th Jan to 22thJan 2021 and expected IPO price range of 1480-1500.


    Indigo paints is one of the fastest growing paint company in India,  listed players have grown in between 5-12% and company able to grow by more than 15.8% in last 3 years and outperformed the listed players. Indigo paints is the 5th largest company in the decorative paint industry.

    In FY2020 Indigo paints reported sales growth of 16.6% and peers reported sales growth of 3-5% even though some of the peers have reported negative sales growth. Indigo paints reported ROE of 24.3% in FY20 which is slightly lower than the Asian and Berger paints but better than Kansai Nerolac and Akzonobel.

    Indigo paints have doubled its PAT margins from 3.2% in FY2018 to 7.7% in FY20 while peers like Asian paints and Berger paints are able to increase margins by 2.5% and 3.4% respectively.

    Currently Asian paints and Berger paints trading at PE of 111 and 148 respectively and Indigo paints reported EPS of 10.49 valuing IPO at 149 at higher price band. We expect the GMP premium of Indigo paints to consolidate in a couple of days. We have a positive outlook towards the IPO."

  • Jan 14, 2021 14:43 (IST)

    IRFC IPO outlook

    In the IPO note on Indian Railway Finance Corporation (IRFC), LKP Securities gave a Subscribe rating and said,"Indian Railway Finance Corporation (IRFC) is a dedicated market borrowing arm of the Indian Railways and is wholly-owned by the Government acting through the Ministry of Railways (MoR) and registered with the RBI as an NBFC-ND-IFC. The company’s primary business is financing the acquisition of Rolling Stock Assets and Project Assets of the Indian Railways and lending to other entities under the MoR. Over the last three decades, the company has played a significant role in supporting the capacity enhancement of the Indian Railways by financing a proportion of its annual plan outlay. The promoter of the company is the President of India, acting through the MoR. As of September 30, 2020, the company’s total AUM consisted of 55.34% of lease receivables primarily in relation to Rolling Stock Assets, 2.25% of loans to central public sector enterprises entities under the administrative control of MoR (“Other PSU Entities”), and 42.41% of advances against leasing of Project Assets.

  • 14:43 IST: In the IPO note on Indian Railway Finance Corporation (IRFC), LKP Securities gave a Subscribe rating and said,"Indian Railway Finance Corporation (IRFC) is a dedicated market borrowing arm of the Indian Railways and is wholly-owned by the Government acting through the Ministry of Railways (MoR) and registered with the RBI as an NBFC-ND-IFC. The company’s primary business is financing the acquisition of Rolling Stock Assets and Project Assets of the Indian Railways and lending to other entities under the MoR. Over the last three decades, the company has played a significant role in supporting the capacity enhancement of the Indian Railways by financing a proportion of its annual plan outlay. The promoter of the company is the President of India, acting through the MoR. As of September 30, 2020, the company’s total AUM consisted of 55.34% of lease receivables primarily in relation to Rolling Stock Assets, 2.25% of loans to central public sector enterprises entities under the administrative control of MoR (“Other PSU Entities”), and 42.41% of advances against leasing of Project Assets.

  • Jan 14, 2021 14:34 (IST)

    SAIL share price falls almost 10% as Govt stake sale through OFS kicks off today



    Shares óf in Steel Authority of India Ltd (SAIL) were trading almost 10% lower in Thursday's volatile session, as the Government of India will sell up to 10 per cent stake in PSU through an offer for sale (OFS), which could fetch over Rs 2,600 crore for the exchequer.

    The floor price of offer has been fixed at Rs 64 per share, at a discount of 14.32 per cent as compared to Wednesday's closing price of Rs 74.70.   

    SAIL OFS for non-retail investors opened on January 14, while for retail investors it will start on January 15. A minimum of 12.5 per cent of offer shares will be reserved for retail investors, and 25 per cent for mutual funds and insurance companies.


    Falling for the second straight session, the stock price of Steel Authority of India opened with a loss of 8.43% today at Rs 68.40 today and fell to the day's low of Rs 68.40, down 9.5% against the last close of Rs 74.70. The stock rose to a high of Rs 69.65 on BSE in early session.

    SAIL share falls nearly 10% amid govt stake sale through OFS

  • 14:34 IST:

    Shares óf in Steel Authority of India Ltd (SAIL) were trading almost 10% lower in Thursday's volatile session, as the Government of India will sell up to 10 per cent stake in PSU through an offer for sale (OFS), which could fetch over Rs 2,600 crore for the exchequer.

    The floor price of offer has been fixed at Rs 64 per share, at a discount of 14.32 per cent as compared to Wednesday's closing price of Rs 74.70.   

    SAIL OFS for non-retail investors opened on January 14, while for retail investors it will start on January 15. A minimum of 12.5 per cent of offer shares will be reserved for retail investors, and 25 per cent for mutual funds and insurance companies.


    Falling for the second straight session, the stock price of Steel Authority of India opened with a loss of 8.43% today at Rs 68.40 today and fell to the day's low of Rs 68.40, down 9.5% against the last close of Rs 74.70. The stock rose to a high of Rs 69.65 on BSE in early session.

    SAIL share falls nearly 10% amid govt stake sale through OFS

  • Jan 14, 2021 14:10 (IST)

    Wholesale inflation eases to 1.22% in Dec on decline in food prices

    The wholesale price index-based inflation eased to 1.22 per cent in December on easing food prices, the data released by the commerce and industry says.

    "The rate of inflation, based on monthly WPI, stood at (1.22 per cent) (provisional) for the month of December, 2020  (over  December,  2019)  as  compared  to  (2.76%)  during  the  corresponding  month  of  the  previous year," says a government statement.

    The WPI inflation for primary articles index declined by 3.11 per cent in December, while fuel and power index saw 3.18 per cent increase. The WPI inflation for manufactured products increased 1.4 per cent as compared to November.

    Wholesale inflation eases to 1.22% in Dec on decline in food prices

  • 14:10 IST: The wholesale price index-based inflation eased to 1.22 per cent in December on easing food prices, the data released by the commerce and industry says.

    "The rate of inflation, based on monthly WPI, stood at (1.22 per cent) (provisional) for the month of December, 2020  (over  December,  2019)  as  compared  to  (2.76%)  during  the  corresponding  month  of  the  previous year," says a government statement.

    The WPI inflation for primary articles index declined by 3.11 per cent in December, while fuel and power index saw 3.18 per cent increase. The WPI inflation for manufactured products increased 1.4 per cent as compared to November.

    Wholesale inflation eases to 1.22% in Dec on decline in food prices

  • Jan 14, 2021 14:03 (IST)

    Market outlook



    Binod Modi Head-Strategy at Reliance Securities said,"We believe underlying strength of the market remains intact and any correction in the market will be bought out. Sustained recovery in key economic data for Dec'20, better-than-expected 3QFY21 corporate earnings so far and upbeat management commentaries continue to augur well for the market."

    "US stocks mostly finished marginally higher as investors remained focused on higher fiscal stimulus from US president-elect Joe Biden's administration. However, development around the possible impeachment of president Donald Trump is unlikely to have any meaningful impact on markets. Further, remarks by Fed's Brainard about continuity of broad-based bond buying program for quite sometimes offered comfort to equities," he added.

     

  • 14:03 IST:

    Binod Modi Head-Strategy at Reliance Securities said,"We believe underlying strength of the market remains intact and any correction in the market will be bought out. Sustained recovery in key economic data for Dec'20, better-than-expected 3QFY21 corporate earnings so far and upbeat management commentaries continue to augur well for the market."

    "US stocks mostly finished marginally higher as investors remained focused on higher fiscal stimulus from US president-elect Joe Biden's administration. However, development around the possible impeachment of president Donald Trump is unlikely to have any meaningful impact on markets. Further, remarks by Fed's Brainard about continuity of broad-based bond buying program for quite sometimes offered comfort to equities," he added.

     

  • Jan 14, 2021 13:54 (IST)

    Market turns positive, trades near record highs

    In a volatile trading session, market indices reversed trend and turned bullish to trade near record highs on Thursday, tracking cues from mixed global equities. Sensex was up by 130 points at 49,62s6 and Nifty gained by 40 points to 14,605. In the last session, Sensex and Nifty hit new lifetime highs of 49,795 and 14,653, respectively.

  • 13:54 IST: In a volatile trading session, market indices reversed trend and turned bullish to trade near record highs on Thursday, tracking cues from mixed global equities. Sensex was up by 130 points at 49,62s6 and Nifty gained by 40 points to 14,605. In the last session, Sensex and Nifty hit new lifetime highs of 49,795 and 14,653, respectively.

  • Jan 14, 2021 13:50 (IST)

    Hindustan Aeronautics stock rises 14%


    Shares of Hindustan Aeronautics Ltd. surged 14% to Rs. 1048 apiece on Thursday after the cabinet has approved procurement of Tejas aircraft from the Indian Air Force.

    As per a statement from PIB, there has given an approval to procure 73 Tejas Mk-1A fighter aircraft and 10 Tejas Mk-1 trainer aircraft. The total cost for the aircraft will be Rs 45,696 crore, along with design and development sanctions worth Rs 1,202 crore, it said.

  • 13:50 IST:
    Shares of Hindustan Aeronautics Ltd. surged 14% to Rs. 1048 apiece on Thursday after the cabinet has approved procurement of Tejas aircraft from the Indian Air Force.

    As per a statement from PIB, there has given an approval to procure 73 Tejas Mk-1A fighter aircraft and 10 Tejas Mk-1 trainer aircraft. The total cost for the aircraft will be Rs 45,696 crore, along with design and development sanctions worth Rs 1,202 crore, it said.

  • Jan 14, 2021 13:40 (IST)

    Market technical outlook

    Geojit financial said in its note," After turning higher precisely from our downside marker of 14440 yesterday, the stage is now set for a rise towards 15200. As maintained yesterday 14700 could be an interim objective, while a repeat pull back beyond 15525 could delay the onset of directional upsides."

  • 13:40 IST: Geojit financial said in its note," After turning higher precisely from our downside marker of 14440 yesterday, the stage is now set for a rise towards 15200. As maintained yesterday 14700 could be an interim objective, while a repeat pull back beyond 15525 could delay the onset of directional upsides."

  • Jan 14, 2021 13:30 (IST)

    India's medium-term growth to decelerate at 6.5% after initial rebound: Fitch

    The Indian economy will suffer lasting damage from the coronavirus crisis and after an initial strong rebound in FY22 (fiscal year ending March 2022) growth will slow to around 6.5 per cent a year over FY23-FY26, Fitch Ratings said on Thursday. "A combination of supply-side scarring and demand-side constraints - such as the weak state of the financial sector - will keep the level of GDP well below its pre-pandemic path," it said in commentary on the Indian economy.

    Fitch said India's coronavirus-induced recession has been among the most severe in the world, amid a stringent lockdown and limited direct fiscal support. The economy is now in a recovery phase that will be further supported by the rollout of vaccines in the next months.

    India's medium-term growth to decelerate at 6.5% after initial rebound: Fitch

  • 13:30 IST: The Indian economy will suffer lasting damage from the coronavirus crisis and after an initial strong rebound in FY22 (fiscal year ending March 2022) growth will slow to around 6.5 per cent a year over FY23-FY26, Fitch Ratings said on Thursday. "A combination of supply-side scarring and demand-side constraints - such as the weak state of the financial sector - will keep the level of GDP well below its pre-pandemic path," it said in commentary on the Indian economy.

    Fitch said India's coronavirus-induced recession has been among the most severe in the world, amid a stringent lockdown and limited direct fiscal support. The economy is now in a recovery phase that will be further supported by the rollout of vaccines in the next months.

    India's medium-term growth to decelerate at 6.5% after initial rebound: Fitch

  • Jan 14, 2021 13:20 (IST)

    YES Bank share falls for second session

    YES Bank shares were trading 1% lower in Thursday's volatile session, in line with BSE private banking index, that was down 0.15%.

    Falling for the second session, stock of YES Bank opened at yesterday's close of Rs 18.20 today and fell to the day's low of Rs 17.60, down 1.4% against the last close of Rs 18.05. The stock rose to a high of Rs 17.90 on BSE in early session.

    Yesterday, YES Bank stock closed 1.1% lower at Rs 17.85 against earlier close of Rs 18.05.

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

    YES Bank share falls for second session amid volatile market

     

  • 13:20 IST: YES Bank shares were trading 1% lower in Thursday's volatile session, in line with BSE private banking index, that was down 0.15%.

    Falling for the second session, stock of YES Bank opened at yesterday's close of Rs 18.20 today and fell to the day's low of Rs 17.60, down 1.4% against the last close of Rs 18.05. The stock rose to a high of Rs 17.90 on BSE in early session.

    Yesterday, YES Bank stock closed 1.1% lower at Rs 17.85 against earlier close of Rs 18.05.

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

    YES Bank share falls for second session amid volatile market

     

  • Jan 14, 2021 13:01 (IST)

    Why IT shares falling today

    Shares of Infosys dropped 3.4% on Thursday morning while those of Wipro fell 3.7% amid strong profit booking after both the Information Technology firms submitted strong quarterly results yesterday.

    Wipro's net profit for the quarter was up by 20.3% QoQ to Rs 2,967 crore, while its consolidated revenue increased by 3.7% QoQ to Rs 16,670 crore, in rupee terms. The company's management also gave a revenue growth guidance of 1.5%-3.5% for IT services in Q4FY2021.

    Infosys, reported a 6.16% QoQ growth in revenues to USD 3516mn. In rupee terms, the company's revenue grew by 5.5% QoQ to Rs 25,927 crore while gross profits grew by 4.0% QoQ to Rs 9,150 crore. The management has also increased their revenue growth guidance to 4.5-5.0% from 2-3% growth in constant currency terms for FY2021.

    Besides these two HCL Tech and Tech Mahindra also traded as top losers on BSE today.

  • 13:01 IST: Shares of Infosys dropped 3.4% on Thursday morning while those of Wipro fell 3.7% amid strong profit booking after both the Information Technology firms submitted strong quarterly results yesterday.

    Wipro's net profit for the quarter was up by 20.3% QoQ to Rs 2,967 crore, while its consolidated revenue increased by 3.7% QoQ to Rs 16,670 crore, in rupee terms. The company's management also gave a revenue growth guidance of 1.5%-3.5% for IT services in Q4FY2021.

    Infosys, reported a 6.16% QoQ growth in revenues to USD 3516mn. In rupee terms, the company's revenue grew by 5.5% QoQ to Rs 25,927 crore while gross profits grew by 4.0% QoQ to Rs 9,150 crore. The management has also increased their revenue growth guidance to 4.5-5.0% from 2-3% growth in constant currency terms for FY2021.

    Besides these two HCL Tech and Tech Mahindra also traded as top losers on BSE today.

  • Jan 14, 2021 12:51 (IST)

    SEBI bars CNBC Awaaz anchor Hemant Ghai, family from trading

    Market regulator Securities and Exchange Board of India (SEBI) on Wednesday restrained CNBC Awaaz anchor Hemant Ghai, his wife and mother from accessing securities market over charges of fraudulent trading. Ghai hosts the "Stock 20-20" show on the channel. The regulator said that Ghai had the "advance information about the recommendation to be made on the show and that he directly/indirectly used it to his advantage".

    In order to protect the interests of the investors and the integrity of the securities market, SEBI has restrained Hemant Ghai and his wife Jaya Hemant Ghai and mother Shyam Mohini Ghai from buying, selling or dealing in securities, either directly or indirectly, in any manner whatsoever till further directions. In addition, he has been directed to cease and desist from undertaking any activity related to giving investment advice, publishing of research reports related to the securities market, till further directions.

    Fraudulent trading: SEBI bars CNBC Awaaz anchor Hemant Ghai, family from trading

  • 12:51 IST: Market regulator Securities and Exchange Board of India (SEBI) on Wednesday restrained CNBC Awaaz anchor Hemant Ghai, his wife and mother from accessing securities market over charges of fraudulent trading. Ghai hosts the "Stock 20-20" show on the channel. The regulator said that Ghai had the "advance information about the recommendation to be made on the show and that he directly/indirectly used it to his advantage".

    In order to protect the interests of the investors and the integrity of the securities market, SEBI has restrained Hemant Ghai and his wife Jaya Hemant Ghai and mother Shyam Mohini Ghai from buying, selling or dealing in securities, either directly or indirectly, in any manner whatsoever till further directions. In addition, he has been directed to cease and desist from undertaking any activity related to giving investment advice, publishing of research reports related to the securities market, till further directions.

    Fraudulent trading: SEBI bars CNBC Awaaz anchor Hemant Ghai, family from trading

  • Jan 14, 2021 12:47 (IST)

    Govt to offload up to 10% stake in SAIL, floor price fixed at Rs 64

    Government of India will sell up to 10 per cent stake in Steel Authority of India Ltd (SAIL) through an offer for sale (OFS), which could fetch over Rs 2,600 crore for the exchequer. The floor price of offer has been fixed at Rs 64 per share, at a discount of 14.32 per cent as compared to Wednesday's closing price of Rs 74.70.  

    SAIL OFS for non-retail investors will open on January 14, while for retail investors it will start on January 15. A minimum of 12.5 per cent of offer shares will be reserved for retail investors, and 25 per cent for mutual funds and insurance companies.

    Govt to offload up to 10% stake in SAIL, floor price fixed at Rs 64

  • 12:47 IST: Government of India will sell up to 10 per cent stake in Steel Authority of India Ltd (SAIL) through an offer for sale (OFS), which could fetch over Rs 2,600 crore for the exchequer. The floor price of offer has been fixed at Rs 64 per share, at a discount of 14.32 per cent as compared to Wednesday's closing price of Rs 74.70.  

    SAIL OFS for non-retail investors will open on January 14, while for retail investors it will start on January 15. A minimum of 12.5 per cent of offer shares will be reserved for retail investors, and 25 per cent for mutual funds and insurance companies.

    Govt to offload up to 10% stake in SAIL, floor price fixed at Rs 64

  • Jan 14, 2021 12:24 (IST)

    Infosys Q3 outlook

    Jyoti Roy - DVP- Equity Strategist, Angel Broking said,"Infosys reported numbers which were significantly ahead of street estimates. Company reported a 6.16% qoq growth in revenues to USD 3516mn driven by digital which grew by 12.3% qoq. In rupee terms revenue grew by 5.5% qoq to Rs 25,927 crore while gross profits grew by 4.0% qoq to Rs 9,150 crore. Gross margins contracted by 52bps qoq to 35.3% as increase in utilization rates were negated by rupee appreciation and wage hikes during the quarter. Continued tight cost control in the form of reduced SG&A expenses led to a 6bps qoq expansion in operating margins to 25.41% while operating profits grew by 5.8% qoq to Rs 6,589 crore. Net profit for the quarter grew by 7.3% qoq to Rs 5,197 crore.

    While the Q1FY21 numbers were significantly above street expectations on all counts, the company reported record new deal wins of USD 7.13bn for the quarter which is higher than deal wins of USD 4.9bn in 1HFY21 and points to continued strong demand environment. The management has also increased their revenue growth guidance to 4.5-5.0% from 2-3% growth in constant currency terms for FY2021. Post the Infosys numbers we continue to maintain our positive stance on the sector and believe that this is the start of a multiyear uptick in growth rates for the sector driven by greater adoption of digital technologies."

  • 12:24 IST: Jyoti Roy - DVP- Equity Strategist, Angel Broking said,"Infosys reported numbers which were significantly ahead of street estimates. Company reported a 6.16% qoq growth in revenues to USD 3516mn driven by digital which grew by 12.3% qoq. In rupee terms revenue grew by 5.5% qoq to Rs 25,927 crore while gross profits grew by 4.0% qoq to Rs 9,150 crore. Gross margins contracted by 52bps qoq to 35.3% as increase in utilization rates were negated by rupee appreciation and wage hikes during the quarter. Continued tight cost control in the form of reduced SG&A expenses led to a 6bps qoq expansion in operating margins to 25.41% while operating profits grew by 5.8% qoq to Rs 6,589 crore. Net profit for the quarter grew by 7.3% qoq to Rs 5,197 crore.

    While the Q1FY21 numbers were significantly above street expectations on all counts, the company reported record new deal wins of USD 7.13bn for the quarter which is higher than deal wins of USD 4.9bn in 1HFY21 and points to continued strong demand environment. The management has also increased their revenue growth guidance to 4.5-5.0% from 2-3% growth in constant currency terms for FY2021. Post the Infosys numbers we continue to maintain our positive stance on the sector and believe that this is the start of a multiyear uptick in growth rates for the sector driven by greater adoption of digital technologies."

  • Jan 14, 2021 12:00 (IST)

    Wipro Q3 outlook

    Jyoti Roy - DVP- Equity Strategist, Angel Broking said," Wipro reported a 3.9% qoq growth in IT services revenues to USD 2.07bn which was slightly ahead of market expectations. In rupee terms consolidated revenue increased by 3.7% qoq to Rs 16,670 crore. Operating profit for the quarter was up by 20.2% qoq to Rs. 3381.3 crore while operating margins were up by ~300bps qoq to 21.7%. Operating margins for the IT services business improved by 250bps qoq to 21.7% while net profit for the quarter was up by 20.3% qoq to Rs 2,967 crore. While a 3.4% constant currency QoQ growth which was slightly ahead of street estimates, the sharp increase in operating margins have come as a pleasant surprise to the markets. Management revenue growth guidance of 1.5%-3.5% for IT services in Q4FY2021 is also in line with street estimates and reaffirms continued improvement in the demand environment.


     

  • 12:00 IST: Jyoti Roy - DVP- Equity Strategist, Angel Broking said," Wipro reported a 3.9% qoq growth in IT services revenues to USD 2.07bn which was slightly ahead of market expectations. In rupee terms consolidated revenue increased by 3.7% qoq to Rs 16,670 crore. Operating profit for the quarter was up by 20.2% qoq to Rs. 3381.3 crore while operating margins were up by ~300bps qoq to 21.7%. Operating margins for the IT services business improved by 250bps qoq to 21.7% while net profit for the quarter was up by 20.3% qoq to Rs 2,967 crore. While a 3.4% constant currency QoQ growth which was slightly ahead of street estimates, the sharp increase in operating margins have come as a pleasant surprise to the markets. Management revenue growth guidance of 1.5%-3.5% for IT services in Q4FY2021 is also in line with street estimates and reaffirms continued improvement in the demand environment.


     

  • Jan 14, 2021 11:51 (IST)

    Infosys expects 4.5-5% growth in FY21

    Bengaluru-based IT major Infosys posted a strong growth in Q3 FY21 and raised its full year revenue guidance on expected lines. The company posted a 5.3 per cent sequential dollar revenue growth in constant currency and 6.6 per cent on year-on-year basis. Digital revenues also crossed the 50 per cent mark of the total revenue with digital growing at 31.3 per cent on a year-on-year in constant currency terms.

    The operating margin for the quarter stood at 25.4 per cent an expansion of 350 basis points on a year-on-year comparison. Terming the quarter to be exceptional on all fronts and focus being largely being on digital and cloud, CEO Salil Parekh said that it had signed the highest ever large deal wins in the company's history at around $7.13 billion.

    Half of Infosys' revenues now from digital, co expects 4.5-5% growth in FY21

  • 11:51 IST: Bengaluru-based IT major Infosys posted a strong growth in Q3 FY21 and raised its full year revenue guidance on expected lines. The company posted a 5.3 per cent sequential dollar revenue growth in constant currency and 6.6 per cent on year-on-year basis. Digital revenues also crossed the 50 per cent mark of the total revenue with digital growing at 31.3 per cent on a year-on-year in constant currency terms.

    The operating margin for the quarter stood at 25.4 per cent an expansion of 350 basis points on a year-on-year comparison. Terming the quarter to be exceptional on all fronts and focus being largely being on digital and cloud, CEO Salil Parekh said that it had signed the highest ever large deal wins in the company's history at around $7.13 billion.

    Half of Infosys' revenues now from digital, co expects 4.5-5% growth in FY21

  • Jan 14, 2021 11:43 (IST)

    Rupee slips 3 paise to 73.18

    Indian rupee, the domestic currency opened on a flat note and depreciated by 3 paise to 73.18 per dollar on Thursday's opening trade,  tracking the muted opening in domestic equities and weak Asian currencies. However, FPI inflows kept the losses capped.

    The domestic unit opened at 73.18 per dollar at the interbank forex market, falling 3 paise over its previous close.

    Reliance Securities said in a research note said,"FPI flows into the domestic equity markets could lift sentiments. RBI's presence could cap gains."

    Meanwhile, the dollar index, rose marginally by 0.04 per cent to 90.39 against a basket of six currencies.

    Rupee slips 3 paise to 73.18 amid strong US dollar, weak Asian currencies

     

  • 11:43 IST: Indian rupee, the domestic currency opened on a flat note and depreciated by 3 paise to 73.18 per dollar on Thursday's opening trade,  tracking the muted opening in domestic equities and weak Asian currencies. However, FPI inflows kept the losses capped.

    The domestic unit opened at 73.18 per dollar at the interbank forex market, falling 3 paise over its previous close.

    Reliance Securities said in a research note said,"FPI flows into the domestic equity markets could lift sentiments. RBI's presence could cap gains."

    Meanwhile, the dollar index, rose marginally by 0.04 per cent to 90.39 against a basket of six currencies.

    Rupee slips 3 paise to 73.18 amid strong US dollar, weak Asian currencies

     

  • Jan 14, 2021 11:20 (IST)

    Stocks in news: Infosys, Wipro, IndusInd Bank, Indian Bank, SAIL, NHPC



    Stocks to watch today on January 14: Infosys, Wipro, IndusInd Bank, Indian Bank, SAIL, NHPC among others are the top stocks to watch out for in Thursday's trading session

    Stocks in news: Infosys, Wipro, IndusInd Bank, Indian Bank, SAIL, NHPC

  • 11:20 IST:

    Stocks to watch today on January 14: Infosys, Wipro, IndusInd Bank, Indian Bank, SAIL, NHPC among others are the top stocks to watch out for in Thursday's trading session

    Stocks in news: Infosys, Wipro, IndusInd Bank, Indian Bank, SAIL, NHPC

  • Jan 14, 2021 11:13 (IST)

    Market turns green

    In a volatile trading session, market indices reversed trend and turned positive on Thursday, amid heavy selling pressure in IT and metal stocks, tracking cues from mixed global equities. Sensex was up by 14 points at 49,500 and Nifty gained by 3 points to 14,568.

  • 11:13 IST: In a volatile trading session, market indices reversed trend and turned positive on Thursday, amid heavy selling pressure in IT and metal stocks, tracking cues from mixed global equities. Sensex was up by 14 points at 49,500 and Nifty gained by 3 points to 14,568.

  • Jan 14, 2021 11:10 (IST)

    Strong earnings, stable outlook have driven this stock to new high

    Shares of Bajaj Electricals jumped over 17 per cent in intra-day trade to hit a fresh record high of Rs 838 on the Bombay Stock Exchange on Wednesday amid hopes of a robust revenue growth in the consumer products segment in near-term. The Bajaj Group company shares were trading higher for the ninth consecutive session. It has gained as much as 222 per cent over the last nine months, from its 52-week low of Rs 260 as on April 3, 2020, and 37 per cent thus far in the month of January 2021. The reason behind its massive rally is healthy quarterly results, stable rating outlook and strong performance of consumer durables business.

    Strong earnings, stable outlook have driven this stock to new high; should you subscribe

  • 11:10 IST: Shares of Bajaj Electricals jumped over 17 per cent in intra-day trade to hit a fresh record high of Rs 838 on the Bombay Stock Exchange on Wednesday amid hopes of a robust revenue growth in the consumer products segment in near-term. The Bajaj Group company shares were trading higher for the ninth consecutive session. It has gained as much as 222 per cent over the last nine months, from its 52-week low of Rs 260 as on April 3, 2020, and 37 per cent thus far in the month of January 2021. The reason behind its massive rally is healthy quarterly results, stable rating outlook and strong performance of consumer durables business.

    Strong earnings, stable outlook have driven this stock to new high; should you subscribe

  • Jan 14, 2021 11:03 (IST)

    CESE - 3QFY21 - result update



    Amarjeet Maurya - AVP - Mid Caps, Angel Broking said,"During the 3QFY21,CESE Ltd (PIL) reported revenue of ~Rs2,539cr (up ~8% YoY). On the EBITDA front, the company has reported Rs730cr and EBITDA margin at 28.8% (improved by 85 bps yoy). On the bottom-line front, CESE reported ~25% growth yoy of Rs328cr due to operating margin improvement, higher other income and lower taxes. The company has announced a Rs45 dividend, which is ~6.5% dividend yield on the current share price."

  • 11:03 IST:

    Amarjeet Maurya - AVP - Mid Caps, Angel Broking said,"During the 3QFY21,CESE Ltd (PIL) reported revenue of ~Rs2,539cr (up ~8% YoY). On the EBITDA front, the company has reported Rs730cr and EBITDA margin at 28.8% (improved by 85 bps yoy). On the bottom-line front, CESE reported ~25% growth yoy of Rs328cr due to operating margin improvement, higher other income and lower taxes. The company has announced a Rs45 dividend, which is ~6.5% dividend yield on the current share price."

  • Jan 14, 2021 10:41 (IST)

    International and Domestic gold outlook for today



    Kshitij Purohit, Lead – International & Commodity at  CapitalVia Global Research Limited said,"International Gold and Silver prices traded with marginal gains this morning. The reports of strong bond yields in U.S. has led to stronger dollar. U.S. fiscal stimulus has boosted the metal's appeal as an inflation hedge. Spread of new Covid-19 strain may lead the investors to look at safe haven investments which may increase the prices of Gold. Technically, International Gold is trading on a flat note where support is at $1840-$1835 levels which when broken could lead the prices to test the psychological levels of $1800. Resistance is at $1865-$1870 levels below which bearish momentum is likely to continue."

    He added," On the domestic front, MCX Gold February is resisting below 49500-49600 levels. If these levels are breached with heavy volume prices could test the levels of 50000 on the upside. Domestic Gold opened on a flat note today and has been trading with marginal gains. For the evening session if resistance levels are not broken then bearish momentum is likely to continue and test the support levels of 48950-48600."

  • 10:41 IST:

    Kshitij Purohit, Lead – International & Commodity at  CapitalVia Global Research Limited said,"International Gold and Silver prices traded with marginal gains this morning. The reports of strong bond yields in U.S. has led to stronger dollar. U.S. fiscal stimulus has boosted the metal's appeal as an inflation hedge. Spread of new Covid-19 strain may lead the investors to look at safe haven investments which may increase the prices of Gold. Technically, International Gold is trading on a flat note where support is at $1840-$1835 levels which when broken could lead the prices to test the psychological levels of $1800. Resistance is at $1865-$1870 levels below which bearish momentum is likely to continue."

    He added," On the domestic front, MCX Gold February is resisting below 49500-49600 levels. If these levels are breached with heavy volume prices could test the levels of 50000 on the upside. Domestic Gold opened on a flat note today and has been trading with marginal gains. For the evening session if resistance levels are not broken then bearish momentum is likely to continue and test the support levels of 48950-48600."

  • Jan 14, 2021 10:34 (IST)

    Market update

    Market indices traded on a bearish note on Thursday, amid heavy selling pressure in IT and metal stocks, tracking cues from mixed global equities. Extending losses for the second trading session, Sensex was down 99 points to 49, 393 and Nifty fell by 31 points to 14,533.

  • 10:34 IST: Market indices traded on a bearish note on Thursday, amid heavy selling pressure in IT and metal stocks, tracking cues from mixed global equities. Extending losses for the second trading session, Sensex was down 99 points to 49, 393 and Nifty fell by 31 points to 14,533.

  • Jan 14, 2021 10:31 (IST)

    IRFC IPO: First share sale of 2021 opens next week


    The Rs 4,634-crore Indian Railway Finance Corporation (IRFC) initial public offer (IPO) is scheduled to open on January 18, and close on January 20, 2021. Price band of the issue is Rs 25-26 per share. The shares of IRFC are proposed to be listed on BSE and NSE.

    As per the red herring prospectus (RHP), the issue will comprise up to 178.20 crore shares with fresh issue of up to 118.80 crore shares and offer for sale of up to 59.40 crore shares by the government. IRFC received Sebi's approval for its public issue on 25 February 2020. The issue will constitute up to 13.64% of the post issue paid-up equity share capital of the company.

    The bids for the issue can be made for a minimum of 575 equity shares and in multiples thereafter.

    IRFC IPO: First share sale of 2021 opens next week; all you need to know

  • 10:31 IST:
    The Rs 4,634-crore Indian Railway Finance Corporation (IRFC) initial public offer (IPO) is scheduled to open on January 18, and close on January 20, 2021. Price band of the issue is Rs 25-26 per share. The shares of IRFC are proposed to be listed on BSE and NSE.

    As per the red herring prospectus (RHP), the issue will comprise up to 178.20 crore shares with fresh issue of up to 118.80 crore shares and offer for sale of up to 59.40 crore shares by the government. IRFC received Sebi's approval for its public issue on 25 February 2020. The issue will constitute up to 13.64% of the post issue paid-up equity share capital of the company.

    The bids for the issue can be made for a minimum of 575 equity shares and in multiples thereafter.

    IRFC IPO: First share sale of 2021 opens next week; all you need to know

  • Jan 14, 2021 10:30 (IST)

    Pharmaceuticals sector Q3FY21 results preview, accelerated growth



    Centrum Broking sai in its note,"We maintain our positive stance on the sector and remain optimistic about further earnings upward revision even in the earnings season. We hold on to our top large-cap picks as Aurobindo, Dr Reddys and Sun Pharma. We continue to like Biocon as the only story in the Biosimilars space. MNCs we maintain our bias on Abbott and Pfizer. And in APIs we continue to like Aarti Drugs along with Granules and FDC in the mid-caps levels.

    We expect Cipla and Lupin to continue reaping higher benefits from the generic albuterol launch in the US market. Stable pricing environment in the US generic market is expected to benefit all the players. Specialty sales for Sun Pharma have started looking up amid pandemic along with recovery in injectable sales for Aurobindo. ARBP results would not be directly comparable on account of Natrol divestment (December month). Also, DRL has exceptional income in base quarter meanwhile DRL expected to continue receiving benefits of niche launches in the US. Biocon biosimilar sales are expected to be better than the 1H while we look forward to improved market share in trastuzumab and other products."



     

  • 10:30 IST:

    Centrum Broking sai in its note,"We maintain our positive stance on the sector and remain optimistic about further earnings upward revision even in the earnings season. We hold on to our top large-cap picks as Aurobindo, Dr Reddys and Sun Pharma. We continue to like Biocon as the only story in the Biosimilars space. MNCs we maintain our bias on Abbott and Pfizer. And in APIs we continue to like Aarti Drugs along with Granules and FDC in the mid-caps levels.

    We expect Cipla and Lupin to continue reaping higher benefits from the generic albuterol launch in the US market. Stable pricing environment in the US generic market is expected to benefit all the players. Specialty sales for Sun Pharma have started looking up amid pandemic along with recovery in injectable sales for Aurobindo. ARBP results would not be directly comparable on account of Natrol divestment (December month). Also, DRL has exceptional income in base quarter meanwhile DRL expected to continue receiving benefits of niche launches in the US. Biocon biosimilar sales are expected to be better than the 1H while we look forward to improved market share in trastuzumab and other products."



     

  • Jan 14, 2021 10:14 (IST)

    Global markets mixed today



    Overseas, Asian stocks were trading mixed on Thursday as investors await the release of Chinese trade data for December.

    In US, the S&P 500 and Nasdaq Composite closed slightly higher on Wednesday, led by tech shares, as traders kept an eye on interest rates, the political uncertainty coming out of Washington and a still raging pandemic. President-elect Joe Biden is expected to release details on his economic plan on Thursday. Meanwhile, turmoil in Washington continues with the House on Wednesday impeaching U.S. President Donald Trump for inciting the attack on the U.S. Capitol last week.

  • 10:14 IST:

    Overseas, Asian stocks were trading mixed on Thursday as investors await the release of Chinese trade data for December.

    In US, the S&P 500 and Nasdaq Composite closed slightly higher on Wednesday, led by tech shares, as traders kept an eye on interest rates, the political uncertainty coming out of Washington and a still raging pandemic. President-elect Joe Biden is expected to release details on his economic plan on Thursday. Meanwhile, turmoil in Washington continues with the House on Wednesday impeaching U.S. President Donald Trump for inciting the attack on the U.S. Capitol last week.

  • Jan 14, 2021 09:56 (IST)

    Market outlook for today

    Rohit Singre, Senior Technical Analyst at LKP Securities said," Yesterday, Noifty index closed a day with mild loss at14556 forming a hanging man sort of candle pattern on the daily chart. The index has formed a good base near 14500-14430 zone any break below said levels can emerge in more profit booking so longs can use said levels as there trail stop loss level; strong hurdle zone is formed near 14650-14700 zone where one can start booking profits".

  • 09:56 IST: Rohit Singre, Senior Technical Analyst at LKP Securities said," Yesterday, Noifty index closed a day with mild loss at14556 forming a hanging man sort of candle pattern on the daily chart. The index has formed a good base near 14500-14430 zone any break below said levels can emerge in more profit booking so longs can use said levels as there trail stop loss level; strong hurdle zone is formed near 14650-14700 zone where one can start booking profits".

  • Jan 14, 2021 09:32 (IST)

    FII action

    Foreign portfolio investors (FPIs) bought shares worth Rs 1,879.06 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 2,370.17 crore in the Indian equity market on 13 January, provisional data showed.

     


     

  • 09:32 IST:

    Foreign portfolio investors (FPIs) bought shares worth Rs 1,879.06 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 2,370.17 crore in the Indian equity market on 13 January, provisional data showed.

     


     

  • Jan 14, 2021 09:28 (IST)

    Opening session

    Market indices opened on a bearish note on Thursday, amid mixed global equities. Sensex was down 58 points to 49, 432 and Nifty fell by 11 points to 14,553.

  • 09:28 IST: Market indices opened on a bearish note on Thursday, amid mixed global equities. Sensex was down 58 points to 49, 432 and Nifty fell by 11 points to 14,553.

  • Jan 14, 2021 09:25 (IST)

    Nifty technical outlook

    Reliance REsearch said in its note today,"NSE-NIFTY reversed from its new high of 14,653-level due to subdued global markets and profit booking across frontline majors. Mix trend observed across the sectors and overall market breadth turned negative. Major technical indicators on the near-term timeframe chart reversed from their higher levels and negatively poised. In case the index fails to attract fresh buying interest, near-term decline or consolidation cannot be ruled out. On the lower side, the index will continue to find support at 14,250 level initially and 14,100 mark subsequently. However on the other hand, its life-time-high of 14,653-level will cap the up-move.

    As for the day, support is placed at around 14,449 and then at 14,334 levels, while resistance is observed at 14,667 and then at 14,769 levels."

  • 09:25 IST: Reliance REsearch said in its note today,"NSE-NIFTY reversed from its new high of 14,653-level due to subdued global markets and profit booking across frontline majors. Mix trend observed across the sectors and overall market breadth turned negative. Major technical indicators on the near-term timeframe chart reversed from their higher levels and negatively poised. In case the index fails to attract fresh buying interest, near-term decline or consolidation cannot be ruled out. On the lower side, the index will continue to find support at 14,250 level initially and 14,100 mark subsequently. However on the other hand, its life-time-high of 14,653-level will cap the up-move.

    As for the day, support is placed at around 14,449 and then at 14,334 levels, while resistance is observed at 14,667 and then at 14,769 levels."

  • Jan 14, 2021 09:21 (IST)

    Earnings today

    Den Networks, HFCL, Reliance Industrial Infrastructure, Tata Steel Long Products, Websol Energy System and Digicontent will announce their quarterly earnings.

  • 09:21 IST: Den Networks, HFCL, Reliance Industrial Infrastructure, Tata Steel Long Products, Websol Energy System and Digicontent will announce their quarterly earnings.

  • Jan 14, 2021 09:14 (IST)

    Rupee closing

    In the currency market, the domestic currency gained for the second straight day and closed 10 paise higher at 73.15, supported by weakness in the greenback overseas, continued FPI inflows and recovery in other Asian currencies.

  • 09:14 IST: In the currency market, the domestic currency gained for the second straight day and closed 10 paise higher at 73.15, supported by weakness in the greenback overseas, continued FPI inflows and recovery in other Asian currencies.

  • Jan 14, 2021 09:13 (IST)

    Nifty technical outlook


    Ashis Bisas, Head of Technical Research at CapitalVia Global Research said," 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."

  • 09:13 IST:
    Ashis Bisas, Head of Technical Research at CapitalVia Global Research said," 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 14, 2021 09:13 (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."

  • 09:13 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 14, 2021 09:12 (IST)

    Closing on Wednesday

    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.  Sensex and Nifty hit new lifetime highs of 49,795 and 14,653, respectively.

  • 09:12 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.  Sensex and Nifty hit new lifetime highs of 49,795 and 14,653, respectively.