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Share Market Highlights: Sensex ends at record high, Nifty at 14,347; Wipro, TCS, Infosys top gainers

January 08,2021 16:54 IST

Sensex, Nifty LIVE Updates on January 8: Market indices turned majorly bullish closed at record highs on Friday, amid positive global equities, led by gains in IT heavyweights and metal stocks. Reversing from two days of fall, Sensex ended 689 points to 48,782 and Nifty gained by 209 points to 14,347. During the session, Sensex hit a new high of 48,854 and Nifty lit a lifetime high of 14,367.  Yesterday, Sensex ended 80 points lower at 48,093 and Nifty fell by 8 points to 14,137. Here's a look at the updates of the market action on BSE and NSE today

 

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KEY UPDATES

  • India Stock Market News Updates Today: Global equities were buoyed today as positive macroeconomic data flow and hopes of a COVID-19 vaccine boosted investor sentiment
  • Jan 08, 2021 15:59 (IST)

    Closing

    Market indices turned majorly bullish closed at record highs on Friday, amid positive global equities, led by gains in IT heavyweights and metal stocks. Reversing from two days of fall, Sensex ended 689 points to 48,782 and Nifty gained by 209 points to 14,347. During the session, Sensex hit a new high of 48,854 and Nifty lit a lifetime high of 14,367. 

  • 15:59 IST: Market indices turned majorly bullish closed at record highs on Friday, amid positive global equities, led by gains in IT heavyweights and metal stocks. Reversing from two days of fall, Sensex ended 689 points to 48,782 and Nifty gained by 209 points to 14,347. During the session, Sensex hit a new high of 48,854 and Nifty lit a lifetime high of 14,367. 

  • Jan 08, 2021 15:45 (IST)

    Market outlook

    S Ranganathan, Head of Research at LKP Securities said,"IT & Auto stocks pulled their weight today ahead of TCS earnings as Bulls went berserk, lifting Indices by 1.5% buoyed by positive Global Cues. An array of high quality Midcaps across sectors registered smart gains as mood remained buoyant through the day."

     

  • 15:45 IST: S Ranganathan, Head of Research at LKP Securities said,"IT & Auto stocks pulled their weight today ahead of TCS earnings as Bulls went berserk, lifting Indices by 1.5% buoyed by positive Global Cues. An array of high quality Midcaps across sectors registered smart gains as mood remained buoyant through the day."

     

  • Jan 08, 2021 15:36 (IST)

    Rupee widens loss by 7 paise amid strong dollar, rising crude oil prices

    The rupee continued to fall today, trading 7 paise lower at 73.38 per US dollar on Friday's opening deals, amid a rebound in American currency against key rivals and rising crude oil prices.

    The Indian unit traded in a small range of 73.35-73.39 in early deals at the interbank foreign exchange market.

    The unit closed 20 paise lower at 73.31 per dollar on Thursday, tracking weak domestic equities and rebound in American currency.

    The dollar index rose 0.03 per cent to 89.85 against a basket of six currencies.

    Rupee widens loss by 7 paise amid strong dollar, rising crude oil prices

  • 15:36 IST: The rupee continued to fall today, trading 7 paise lower at 73.38 per US dollar on Friday's opening deals, amid a rebound in American currency against key rivals and rising crude oil prices.

    The Indian unit traded in a small range of 73.35-73.39 in early deals at the interbank foreign exchange market.

    The unit closed 20 paise lower at 73.31 per dollar on Thursday, tracking weak domestic equities and rebound in American currency.

    The dollar index rose 0.03 per cent to 89.85 against a basket of six currencies.

    Rupee widens loss by 7 paise amid strong dollar, rising crude oil prices

  • Jan 08, 2021 15:33 (IST)

    Bharat Rasayan stock rises 12 % as board to consider share buyback proposal on January 12

    Bharat Rasayan share rose 12% in early trade today after the company said that its board will consider share buyback on Tuesday, January 12, 2021. The stock opened with a gain of 6.65% at Rs 10,062 against previous close of Rs 9,434 on BSE.

    The small cap stock touched an intraday high of Rs 10,543.65, rising 11.75% against the last close. The share has gained 69.78% in one year and risen 3.82% since the beginning of this year.

    Market cap of the firm rose to Rs 4,288 crore. Bharat Rasayan share is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.

    Bharat Rasayan stock rises 12 % as board to consider share buyback proposal on January 12

  • 15:33 IST: Bharat Rasayan share rose 12% in early trade today after the company said that its board will consider share buyback on Tuesday, January 12, 2021. The stock opened with a gain of 6.65% at Rs 10,062 against previous close of Rs 9,434 on BSE.

    The small cap stock touched an intraday high of Rs 10,543.65, rising 11.75% against the last close. The share has gained 69.78% in one year and risen 3.82% since the beginning of this year.

    Market cap of the firm rose to Rs 4,288 crore. Bharat Rasayan share is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.

    Bharat Rasayan stock rises 12 % as board to consider share buyback proposal on January 12

  • Jan 08, 2021 15:30 (IST)

    Tata Power share price hits 52-week high on acquiring stake in 2 companies



    Tata Power share price jumped over 9% intraday in Friday's session and touched a 52-week high of Rs 84.60 after the company said it acquired 51% stake each in TP Southern Odisha Distribution Limited (TPSODL) and TP Western Odisha Distribution Limited (TPWODL).


    Following the recent updates, Tata Power share price opened with a gain of 3.24% at Rs 84.50 and later climbed 3.36% to the intraday high of Rs 84.6 on BSE, as against the earlier closing of Rs 81.85. The stock also touched an intraday low of Rs 82.65 during today's session.

  • 15:30 IST:

    Tata Power share price jumped over 9% intraday in Friday's session and touched a 52-week high of Rs 84.60 after the company said it acquired 51% stake each in TP Southern Odisha Distribution Limited (TPSODL) and TP Western Odisha Distribution Limited (TPWODL).


    Following the recent updates, Tata Power share price opened with a gain of 3.24% at Rs 84.50 and later climbed 3.36% to the intraday high of Rs 84.6 on BSE, as against the earlier closing of Rs 81.85. The stock also touched an intraday low of Rs 82.65 during today's session.

  • Jan 08, 2021 15:23 (IST)

    Market hits new high

    Market indices turned majorly bullish and touched new highs on Friday, amid positive global equities, led by gains in IT heavyweights and metal stocks. Reversing from two days of fall, Sensex rose 740 points to 48,813 and Nifty was rising by 213 points to 14,350. During the session, Sensex hit a new high of 48,854 and Nifty lit a lifetime high of 14,366.

  • 15:23 IST: Market indices turned majorly bullish and touched new highs on Friday, amid positive global equities, led by gains in IT heavyweights and metal stocks. Reversing from two days of fall, Sensex rose 740 points to 48,813 and Nifty was rising by 213 points to 14,350. During the session, Sensex hit a new high of 48,854 and Nifty lit a lifetime high of 14,366.

  • Jan 08, 2021 15:21 (IST)

    Infrastructure - Q3FY21 results preview - Earnings set to recover



    Centrum Broking in its note said,"Order inflows for our coverage companies have remained mixed in Q3FY21. While NCC/ Ahluwalia received robust order inflows of Rs137bn/ Rs13.7bn, ABL/ KNR did not receive any inflows. Having said that, order backlog of construction companies continues to remain strong (3-6x TTM revenues) providing strong revenue visibility except for ABL where revenue visibility is moderate with OB/bill at 2.3x TTM revenues.     

    While labour availability has reached near normalcy, there is some loss of productivity due to Covid led restrictions. We expect revenue growth in 0-16% range for construction companies led by HG Infra at 16% revenue growth. EBITDA margins are likely to remain in the historical range except for Ahluwalia Contracts where margins are likely to be under pressure due to lower execution efficiency and likely provisions related to legacy projects. Working capital and debt levels are likely to remain largely stable leading to improved earnings growth. We expect NCC, KNR, HG and PNC to report strong growth in adjusted earnings ranging from 16-27% on yoy basis.



    We have seen a strong pick-up in ordering and tendering activity in Q3FY21. Order awards grew 136% yoy to Rs1.8trn in Q3 led by Urban infra, Highways and Water segments. It also includes two big ticket high speed rail orders worth Rs322bn. Major beneficiaries among the listed space are L&T (Rs707bn), NCC (Rs138bn) and Ahluwalia Contracts (Rs13.7bn). Tenders worth Rs2.1trn were floated in Q3 (up 53.5% yoy) driven by Highways, Water and Irrigation verticals. Major tender issuing authorities were NHAI (Rs554bn), State PWDs (Rs281bn) and Irrigation & CAD Dept, AP (Rs166bn)."   


     

  • 15:21 IST:

    Centrum Broking in its note said,"Order inflows for our coverage companies have remained mixed in Q3FY21. While NCC/ Ahluwalia received robust order inflows of Rs137bn/ Rs13.7bn, ABL/ KNR did not receive any inflows. Having said that, order backlog of construction companies continues to remain strong (3-6x TTM revenues) providing strong revenue visibility except for ABL where revenue visibility is moderate with OB/bill at 2.3x TTM revenues.     

    While labour availability has reached near normalcy, there is some loss of productivity due to Covid led restrictions. We expect revenue growth in 0-16% range for construction companies led by HG Infra at 16% revenue growth. EBITDA margins are likely to remain in the historical range except for Ahluwalia Contracts where margins are likely to be under pressure due to lower execution efficiency and likely provisions related to legacy projects. Working capital and debt levels are likely to remain largely stable leading to improved earnings growth. We expect NCC, KNR, HG and PNC to report strong growth in adjusted earnings ranging from 16-27% on yoy basis.



    We have seen a strong pick-up in ordering and tendering activity in Q3FY21. Order awards grew 136% yoy to Rs1.8trn in Q3 led by Urban infra, Highways and Water segments. It also includes two big ticket high speed rail orders worth Rs322bn. Major beneficiaries among the listed space are L&T (Rs707bn), NCC (Rs138bn) and Ahluwalia Contracts (Rs13.7bn). Tenders worth Rs2.1trn were floated in Q3 (up 53.5% yoy) driven by Highways, Water and Irrigation verticals. Major tender issuing authorities were NHAI (Rs554bn), State PWDs (Rs281bn) and Irrigation & CAD Dept, AP (Rs166bn)."   


     

  • Jan 08, 2021 15:10 (IST)

    India Consumer stocks- Q3FY21 results preview



    Centrum Broking said in oits note," Our Q3Y21E revenue estimates are: HUL (+18.7%), APNT (16.0%), Dabur (+12.0%), Emami (+10.9%), Britannia (+9.4%), Bajaj Consumer (8.1%), Colgate (+6.4%), VST (+0.8%), ITC (+0.2%), Godfrey (-3.5%) and V-Mart (-4.5%).

    The sector could see few surprises. Results commentary could include (1) strong winter to impact demand for winter care products, (2) smart recovery for skincare/ lotions and hair oils (3) rapid digital transformation to cut channel inventory, yet e-com to grow faster (4) lower pace of recovery in MT to affect volume, (5) buoyant rural demand, and (6) sustained gross margin expansion.

    We prefer ITC due to compelling valuation, Britannia – visible demand outlook (focus on gaining market share with rising profitability), Emami – continuity in all round performance, Dabur – improved execution (focus on power brands driven by cluster base strategy) and V-Mart – solid play (meeting rural India’s fashion aspiration)."

  • 15:10 IST:

    Centrum Broking said in oits note," Our Q3Y21E revenue estimates are: HUL (+18.7%), APNT (16.0%), Dabur (+12.0%), Emami (+10.9%), Britannia (+9.4%), Bajaj Consumer (8.1%), Colgate (+6.4%), VST (+0.8%), ITC (+0.2%), Godfrey (-3.5%) and V-Mart (-4.5%).

    The sector could see few surprises. Results commentary could include (1) strong winter to impact demand for winter care products, (2) smart recovery for skincare/ lotions and hair oils (3) rapid digital transformation to cut channel inventory, yet e-com to grow faster (4) lower pace of recovery in MT to affect volume, (5) buoyant rural demand, and (6) sustained gross margin expansion.

    We prefer ITC due to compelling valuation, Britannia – visible demand outlook (focus on gaining market share with rising profitability), Emami – continuity in all round performance, Dabur – improved execution (focus on power brands driven by cluster base strategy) and V-Mart – solid play (meeting rural India’s fashion aspiration)."

  • Jan 08, 2021 14:49 (IST)

    Metals and Mining sector update -Consumption registers strong growth; inventory at multi-year lows




     Ashutosh Somani from JM Financial Institutional Securities said in its note," India's Dec'20 finished steel production registered a growth of a 3% MoM (down 4% YoY) to 8.8mn tons. Consumption for the month registered a growth of 6% YoY (+5% MoM) driven by strong automotive/construction demand. Market share of steel majors now stand at 59.0% YTD FY21 vs. 54.5% FY20, implying a loss in market share by secondary steel producers. India continued to be a net exporter of steel (YTD net exports of 5.1mn tons) with exports of 8.3mn tons (up 28% YoY YTD FY21). Current finished steel products inventory of 10.6mn tons is at multi-year low.

    The significant surge in global prices is held firm by a trio of pillars of firm Chinese demand, elevated China CoP curve (2x higher coking coal cost within China) and a robust global export market as idled capacities catch up to service the fast opening up economies. Sustained high steel price in domestic markets against a back-drop of subdued coking coal price ex-China (China-Aus trade spat) have led to record spreads (est. gross margins of INR43.1k/t+). We expect steel prices to hold firm in a good part of 4QFY21 as long steel demand enters construction led seasonally strong period while high automotive demand holds."

  • 14:49 IST:


     Ashutosh Somani from JM Financial Institutional Securities said in its note," India's Dec'20 finished steel production registered a growth of a 3% MoM (down 4% YoY) to 8.8mn tons. Consumption for the month registered a growth of 6% YoY (+5% MoM) driven by strong automotive/construction demand. Market share of steel majors now stand at 59.0% YTD FY21 vs. 54.5% FY20, implying a loss in market share by secondary steel producers. India continued to be a net exporter of steel (YTD net exports of 5.1mn tons) with exports of 8.3mn tons (up 28% YoY YTD FY21). Current finished steel products inventory of 10.6mn tons is at multi-year low.

    The significant surge in global prices is held firm by a trio of pillars of firm Chinese demand, elevated China CoP curve (2x higher coking coal cost within China) and a robust global export market as idled capacities catch up to service the fast opening up economies. Sustained high steel price in domestic markets against a back-drop of subdued coking coal price ex-China (China-Aus trade spat) have led to record spreads (est. gross margins of INR43.1k/t+). We expect steel prices to hold firm in a good part of 4QFY21 as long steel demand enters construction led seasonally strong period while high automotive demand holds."

  • Jan 08, 2021 14:46 (IST)

    Market at new highs

    Market indices traded on a bullish note on Friday, amid positive global equities, led y gains in IT heavyweights and metal stocks. Reversing from two days of fall, Sensex rose 500 points to 48,600 and Nifty was rising by 150 points to 14,290. During the session, Sensex hit a new high of 48,708 and Nifty lit a lifetime high of 14,322.

  • 14:46 IST: Market indices traded on a bullish note on Friday, amid positive global equities, led y gains in IT heavyweights and metal stocks. Reversing from two days of fall, Sensex rose 500 points to 48,600 and Nifty was rising by 150 points to 14,290. During the session, Sensex hit a new high of 48,708 and Nifty lit a lifetime high of 14,322.

  • Jan 08, 2021 14:17 (IST)

    RIL likely to see a strong QoQ improvement

    Centrum Broking in its note said," RIL is likely to see a strong QoQ improvement post the weakness seen in Q2 even as yoy performance remains muted, with consol EBITDA to decline 6% yoy and PAT likely to decline -1.6% yoy. The yoy decline is driven by continued yoy weakness in downstream segments – GRMs of US$5.8 (-$3.5/bbl yoy, +$0.05/bbl qoq) driving a 60% yoy decline in Refining EBIT to Rs23bn (up 15% qoq). Petchem metrics have improved sharply qoq, with a steady improvement seen in pricing trends across plastics and polymers, driving a 20% qoq jump in segment EBIT (flat yoy) Retail segment continues to normalise to Pre-CoVid levels, with Segment EBIT likely to grow 23% qoq while RJIL Segment EBIT of Rs52bn up 7% qoq and 36% yoy, helped by 6.6mn subs addition and a 2-3% qoq improvement in blended ARPU to Rs148 for the quarter."


     

  • 14:17 IST: Centrum Broking in its note said," RIL is likely to see a strong QoQ improvement post the weakness seen in Q2 even as yoy performance remains muted, with consol EBITDA to decline 6% yoy and PAT likely to decline -1.6% yoy. The yoy decline is driven by continued yoy weakness in downstream segments – GRMs of US$5.8 (-$3.5/bbl yoy, +$0.05/bbl qoq) driving a 60% yoy decline in Refining EBIT to Rs23bn (up 15% qoq). Petchem metrics have improved sharply qoq, with a steady improvement seen in pricing trends across plastics and polymers, driving a 20% qoq jump in segment EBIT (flat yoy) Retail segment continues to normalise to Pre-CoVid levels, with Segment EBIT likely to grow 23% qoq while RJIL Segment EBIT of Rs52bn up 7% qoq and 36% yoy, helped by 6.6mn subs addition and a 2-3% qoq improvement in blended ARPU to Rs148 for the quarter."


     

  • Jan 08, 2021 14:02 (IST)

    Market update

    Market indices traded on a bullish note on Friday, amid positive global equities, led y gains in IT heavyweights and metal stocks. Reversing from two days of fall, Sensex rose 500 points to 48,600 and Nifty was rising by 150 points to 14,290.

  • 14:02 IST: Market indices traded on a bullish note on Friday, amid positive global equities, led y gains in IT heavyweights and metal stocks. Reversing from two days of fall, Sensex rose 500 points to 48,600 and Nifty was rising by 150 points to 14,290.

  • Jan 08, 2021 13:52 (IST)

    Telecom Sector update- 3QFY21 preview



    Dayanand Mittal, from  JM Financial Institutional Securities said in its note,"We expect 3QFY21E to be marked by continued robustness in MBB (Mobile Broadband - 3G/4G) subcriber additions, primarily driven by the demand for Ed-Tech and the continuing WFH and the strong smartphone shipments (IDC Oct'20 smartphone shipments). Bharti Airtel (Bharti) is expected to outperform Jio in subscriber additions for the second quarter in a row primarily due to Bharti's higher subscriber market share amongst incremental MBB users; while we expect continued subscriber losses for Vodafone Idea (VIL). In the absence of tariff hikes, we expect ARPU growth to be led by MBB additions and higher data usage. Both Bharti and Jio are expected to witness an ARPU growth of 1.5% QoQ; while for VIL, the ARPU growth might be higher at 5% QoQ, partly due to more headroom for data usage growth and partly due to decline in low ARPU 2G subscriber. We reiterate strong BUY on Bharti (revised TP of INR 650 vs. INR 615 earlier), HOLD on Indus Towers (erstwhile Bharti Infratel ) with revised TP of INR 250 post merger and SELL on VIL (TP of INR 7)."

     

  • 13:52 IST:

    Dayanand Mittal, from  JM Financial Institutional Securities said in its note,"We expect 3QFY21E to be marked by continued robustness in MBB (Mobile Broadband - 3G/4G) subcriber additions, primarily driven by the demand for Ed-Tech and the continuing WFH and the strong smartphone shipments (IDC Oct'20 smartphone shipments). Bharti Airtel (Bharti) is expected to outperform Jio in subscriber additions for the second quarter in a row primarily due to Bharti's higher subscriber market share amongst incremental MBB users; while we expect continued subscriber losses for Vodafone Idea (VIL). In the absence of tariff hikes, we expect ARPU growth to be led by MBB additions and higher data usage. Both Bharti and Jio are expected to witness an ARPU growth of 1.5% QoQ; while for VIL, the ARPU growth might be higher at 5% QoQ, partly due to more headroom for data usage growth and partly due to decline in low ARPU 2G subscriber. We reiterate strong BUY on Bharti (revised TP of INR 650 vs. INR 615 earlier), HOLD on Indus Towers (erstwhile Bharti Infratel ) with revised TP of INR 250 post merger and SELL on VIL (TP of INR 7)."

     

  • Jan 08, 2021 13:46 (IST)

    IT shares surge today ahead of TCS Q3 earnings





    Information Technology (IT) firms were back in focus today, with heavyweights like Tech Mahindra, HCL Technologies, Infosys and Tata Consultancy Services trading as top gainers on BSE and NSE, ahead of earnings announcement of the country's largest IT company, TCS.

    Trading among the top gainers on the BSE Sensex and Nifty indices, stock of IT stocks rise ahead of TCS Q3 earnings announcement. TCS is likely to report QoQ growth of 4.5% in Q3 in USD terms, according to Edelweiss.


    The IT major TCS's stock was up 2%, as the company plans to announce its third-quarter numbers today. Tata Consultancy Services (TCS) share price touched an intraday high of Rs 3110 (2.55%) and traded 0.42% away from 52 week high of Rs 3114.45.  Meanwhile, Infosys stock touched an intraday high of Rs 1297.2 (2.79%) and 0.49% away from 52 week high of Rs 1302.5.

    IT shares rise ahead of TCS third quarter earnings

  • 13:46 IST:



    Information Technology (IT) firms were back in focus today, with heavyweights like Tech Mahindra, HCL Technologies, Infosys and Tata Consultancy Services trading as top gainers on BSE and NSE, ahead of earnings announcement of the country's largest IT company, TCS.

    Trading among the top gainers on the BSE Sensex and Nifty indices, stock of IT stocks rise ahead of TCS Q3 earnings announcement. TCS is likely to report QoQ growth of 4.5% in Q3 in USD terms, according to Edelweiss.


    The IT major TCS's stock was up 2%, as the company plans to announce its third-quarter numbers today. Tata Consultancy Services (TCS) share price touched an intraday high of Rs 3110 (2.55%) and traded 0.42% away from 52 week high of Rs 3114.45.  Meanwhile, Infosys stock touched an intraday high of Rs 1297.2 (2.79%) and 0.49% away from 52 week high of Rs 1302.5.

    IT shares rise ahead of TCS third quarter earnings

  • Jan 08, 2021 13:01 (IST)

    NALCO share hits 52-week high

    Share  of state-owned  NALCO rose 4% in early trade today after Union Coal and Mines Minister Pralhad Joshi said the firm will invest around Rs 30,000 crore over the next 7-8 years on its expansion and diversification. The stock has gained 6.38% in the last 3 days. NALCO stock touched a fresh 52 week high of Rs 50, rising 3.95% against previous close of Rs 48.10 on BSE.

    NALCO share is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages. The share has gained 14.27% in one year and risen 10.55% since the beginning of this year.

    NALCO share hits 52-week high on plan to invest Rs 30K crore for expansion

  • 13:01 IST: Share  of state-owned  NALCO rose 4% in early trade today after Union Coal and Mines Minister Pralhad Joshi said the firm will invest around Rs 30,000 crore over the next 7-8 years on its expansion and diversification. The stock has gained 6.38% in the last 3 days. NALCO stock touched a fresh 52 week high of Rs 50, rising 3.95% against previous close of Rs 48.10 on BSE.

    NALCO share is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages. The share has gained 14.27% in one year and risen 10.55% since the beginning of this year.

    NALCO share hits 52-week high on plan to invest Rs 30K crore for expansion

  • Jan 08, 2021 12:45 (IST)

    YES Bank share trades tad higher today



    YES Bank share price was trading tad higher on Friday morning, rising for the thirs straight session. The stock of private lender opened higher at Rs 18.20 against its previous close of Rs 18 today. The stock gained 1.3% to hit the day's high of Rs 18.25 on BSE. However, the stock erased gains to hit an intraday low of Rs 17.95 and later traded flat.

    The lender along with five other companies has been included in the large-cap stock category by the Association of Mutual Funds in India (Amfi) in its semi-annual review, which will be effective for the February-July period in 2021. The other five stocks which have joined the large-cap club are Gland Pharma Ltd, Adani Enterprises Ltd, PI Industries Ltd, Jubilant Foodworks Ltd and Hindustan Agro.

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

    YES Bank share rises for third straight session

  • 12:45 IST:

    YES Bank share price was trading tad higher on Friday morning, rising for the thirs straight session. The stock of private lender opened higher at Rs 18.20 against its previous close of Rs 18 today. The stock gained 1.3% to hit the day's high of Rs 18.25 on BSE. However, the stock erased gains to hit an intraday low of Rs 17.95 and later traded flat.

    The lender along with five other companies has been included in the large-cap stock category by the Association of Mutual Funds in India (Amfi) in its semi-annual review, which will be effective for the February-July period in 2021. The other five stocks which have joined the large-cap club are Gland Pharma Ltd, Adani Enterprises Ltd, PI Industries Ltd, Jubilant Foodworks Ltd and Hindustan Agro.

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

    YES Bank share rises for third straight session

  • Jan 08, 2021 12:38 (IST)

    Real Estate sector



    Aditya Chamaria, Managing Director, Damodar Ropeways & Infra Limited, “The infrastructure industry is the bedrock of opportunities for the nation’s economy. The coronavirus pandemic has presented the industry with several sets of challenges such as disrupted supply chains, limited public-private partnerships, deepening fiscal strains, etc. One of the marquee infrastructure projects to look out for in coming years will be the National Infrastructure Pipeline (NIP) launched by Government of India in 2019, wherein it plans to invest close to Rs 102 lakh crore on infrastructure projects by 2024-25. We would be expecting the government to introduce some subsidies for the private players in the upcoming budget as Corona has led to a complete stillness in terms of revenue. It is also surprising how even some large-scale infra players are not harnessing latest technologies in their projects, which has now become the need of hour. Any support from government in adopting these technologies and helping indigenous companies with R&D investment would also be of great help.”

  • 12:38 IST:

    Aditya Chamaria, Managing Director, Damodar Ropeways & Infra Limited, “The infrastructure industry is the bedrock of opportunities for the nation’s economy. The coronavirus pandemic has presented the industry with several sets of challenges such as disrupted supply chains, limited public-private partnerships, deepening fiscal strains, etc. One of the marquee infrastructure projects to look out for in coming years will be the National Infrastructure Pipeline (NIP) launched by Government of India in 2019, wherein it plans to invest close to Rs 102 lakh crore on infrastructure projects by 2024-25. We would be expecting the government to introduce some subsidies for the private players in the upcoming budget as Corona has led to a complete stillness in terms of revenue. It is also surprising how even some large-scale infra players are not harnessing latest technologies in their projects, which has now become the need of hour. Any support from government in adopting these technologies and helping indigenous companies with R&D investment would also be of great help.”

  • Jan 08, 2021 12:14 (IST)

    Bitcoin hits $40,000 for first time

    Bitcoin topped $40,000 for the first time on Thursday, as it continues a rally that has seen the digital currency climb more than 700% from a March 12 closing low. Increased demand from institutional, corporate, and more recently retail investors has powered bitcoin's surge this year, attracted by the prospect of quick gains in a world of ultra-low yields and negative interest rates.

    The world's most popular cryptocurrency climbed as high as $40,402.46 and was last up 6.1% at $39,100. It crossed $30,000 for the first time on Jan. 2 and $20,000 on Dec. 16. Smaller coins ethereum, the second largest in terms of market capitalization, and XRP, the fourth biggest, gained 1.8% at $1,231 and 31% at 32 US cents, respectively. Both currencies often move in tandem with bitcoin.

    Bitcoin hits $40,000 for first time, but sharp drop expected

  • 12:14 IST: Bitcoin topped $40,000 for the first time on Thursday, as it continues a rally that has seen the digital currency climb more than 700% from a March 12 closing low. Increased demand from institutional, corporate, and more recently retail investors has powered bitcoin's surge this year, attracted by the prospect of quick gains in a world of ultra-low yields and negative interest rates.

    The world's most popular cryptocurrency climbed as high as $40,402.46 and was last up 6.1% at $39,100. It crossed $30,000 for the first time on Jan. 2 and $20,000 on Dec. 16. Smaller coins ethereum, the second largest in terms of market capitalization, and XRP, the fourth biggest, gained 1.8% at $1,231 and 31% at 32 US cents, respectively. Both currencies often move in tandem with bitcoin.

    Bitcoin hits $40,000 for first time, but sharp drop expected

  • Jan 08, 2021 12:00 (IST)

    Why Hyundai share price surged more than 20%

    Shares in Hyundai Motor jumped as much as 23.8%, hitting a more than seven-year high of 255,000 won, after the South Korea company said on Friday it was in early, unspecified talks with Apple. This was after a local broadcaster said the pair were discussing an electric car and battery tieup, that sent Hyundai shares surging 24%.

    In a regulatory filing issued later, the automaker said it was "getting requests for cooperation on joint development of autonomous electric vehicles from various companies", without identifying any of them.

    "Apple and Hyundai are in discussions, but they are at an early stage and nothing has been decided," Hyundai said in a statement without saying what the talks were about.

    Why Hyundai share price surged more than 20%

  • 12:00 IST: Shares in Hyundai Motor jumped as much as 23.8%, hitting a more than seven-year high of 255,000 won, after the South Korea company said on Friday it was in early, unspecified talks with Apple. This was after a local broadcaster said the pair were discussing an electric car and battery tieup, that sent Hyundai shares surging 24%.

    In a regulatory filing issued later, the automaker said it was "getting requests for cooperation on joint development of autonomous electric vehicles from various companies", without identifying any of them.

    "Apple and Hyundai are in discussions, but they are at an early stage and nothing has been decided," Hyundai said in a statement without saying what the talks were about.

    Why Hyundai share price surged more than 20%

  • Jan 08, 2021 11:53 (IST)

    Stocks in news: TCS, Biocon, Tata Power, Union Bank, Strides Pharma, HCL Tech



    Stocks to watch today on January 8: TCS, Biocon, Tata Power, Union Bank, Strides Pharma, HCL Tech among others are the top stocks to watch out for in Friday's trading session

    Stocks in news: TCS, Biocon, Tata Power, Union Bank, Strides Pharma, HCL Tech

  • 11:53 IST:

    Stocks to watch today on January 8: TCS, Biocon, Tata Power, Union Bank, Strides Pharma, HCL Tech among others are the top stocks to watch out for in Friday's trading session

    Stocks in news: TCS, Biocon, Tata Power, Union Bank, Strides Pharma, HCL Tech

  • Jan 08, 2021 11:35 (IST)

    TCS share rises over 2% ahead of Q3 earnings

    TCS share rose over 2% in early trade today ahead of the IT firm's  Q3 earnings set to be announced later in the day. Stock of TCS gained 2.16% to Rs 3098.35 against previous close of Rs 3,032.70 on BSE.

    The stock has gained after 2 days of consecutive fall. Market cap of the firm rose to Rs 11.56 lakh crore on BSE. TCS share is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.

    Total 58,461 shares of the IT gaint changed hands on BSE.


    TCS share rises over 2% ahead of Q3 earnings

  • 11:35 IST: TCS share rose over 2% in early trade today ahead of the IT firm's  Q3 earnings set to be announced later in the day. Stock of TCS gained 2.16% to Rs 3098.35 against previous close of Rs 3,032.70 on BSE.

    The stock has gained after 2 days of consecutive fall. Market cap of the firm rose to Rs 11.56 lakh crore on BSE. TCS share is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.

    Total 58,461 shares of the IT gaint changed hands on BSE.


    TCS share rises over 2% ahead of Q3 earnings

  • Jan 08, 2021 11:23 (IST)

    HPCL stock outlook

    Geojit Financial Services said in its note," HPCL’s net revenue stood at Rs. 51,773cr (-14.9% YoY) in Q2FY21. However, it improved 37.3% on a sequential basis on the back of a sharp recovery in petroleum demand and refineries utilization rate of 100%, despite the lockdown. During the first half of this fiscal year, HPCL added 895 new retail outlets & 103 new CNG retail outlets. Strong infrastructure and pipeline network, along with robust inventory management will boost the company’s performance in the long-term. Therefore, we upgrade our rating to BUY on the stock with a target price of Rs. 260 based on SOTP Valuation."


     

  • 11:23 IST: Geojit Financial Services said in its note," HPCL’s net revenue stood at Rs. 51,773cr (-14.9% YoY) in Q2FY21. However, it improved 37.3% on a sequential basis on the back of a sharp recovery in petroleum demand and refineries utilization rate of 100%, despite the lockdown. During the first half of this fiscal year, HPCL added 895 new retail outlets & 103 new CNG retail outlets. Strong infrastructure and pipeline network, along with robust inventory management will boost the company’s performance in the long-term. Therefore, we upgrade our rating to BUY on the stock with a target price of Rs. 260 based on SOTP Valuation."


     

  • Jan 08, 2021 11:07 (IST)

    Biocon stock outlook

    Yash Gupta Equity Research Associate, Angel Broking said," Biocon Limited announced that the Biocon Biologics Limited a subsidiary of the Company, and Beta Oryx, a wholly owned subsidiary of ADQ (the ‘Investor’) have executed a Share Subscription Agreement and the Company, BBL, existing investors of BBL and the Investor have executed a Shareholders’ Agreement. Biocon Ltd an innovation-led global biopharmaceuticals company, announced that the Board of its subsidiary Biocon Biologics Ltd (“Biocon Biologics”) has approved a primary equity investment by Abu Dhabi based ADQ (“ADQ”), one of the region’s largest holding companies. As per the terms of the proposed agreement, ADQ will invest Rs 555 Crore for a 1.80% minority stake in the biosimilar business, valuing Biocon Biologics at a post money valuation of ~USD 4.17 billion1 . The transaction is subject to customary condition precedents and approvals. Post the completion of this transaction, Biocon Ltd will hold 89.89% stake in Biocon Biologics on a fully diluted basis.

     

    The minority stake has been sold at valuations of $4.17 billion, This valuation of Biocon biologics is in line with the valuation of market reports. We have a neutral outlook on Biocon Limited."

  • 11:07 IST: Yash Gupta Equity Research Associate, Angel Broking said," Biocon Limited announced that the Biocon Biologics Limited a subsidiary of the Company, and Beta Oryx, a wholly owned subsidiary of ADQ (the ‘Investor’) have executed a Share Subscription Agreement and the Company, BBL, existing investors of BBL and the Investor have executed a Shareholders’ Agreement. Biocon Ltd an innovation-led global biopharmaceuticals company, announced that the Board of its subsidiary Biocon Biologics Ltd (“Biocon Biologics”) has approved a primary equity investment by Abu Dhabi based ADQ (“ADQ”), one of the region’s largest holding companies. As per the terms of the proposed agreement, ADQ will invest Rs 555 Crore for a 1.80% minority stake in the biosimilar business, valuing Biocon Biologics at a post money valuation of ~USD 4.17 billion1 . The transaction is subject to customary condition precedents and approvals. Post the completion of this transaction, Biocon Ltd will hold 89.89% stake in Biocon Biologics on a fully diluted basis.

     

    The minority stake has been sold at valuations of $4.17 billion, This valuation of Biocon biologics is in line with the valuation of market reports. We have a neutral outlook on Biocon Limited."

  • Jan 08, 2021 10:58 (IST)

    Sobha stock outlook

     Yash Gupta Equity Research Associate, Angel Broking  said," Sobha limited sales number recovered in Q3FY21 after the dip in H1FY21, Pre sales were better than the last year and best every quarterly sales volumes. Sobha limited reported pre sales of Rs 887 Cr up by  % in Q3FY21 from Rs 716 Cr in Q3FY20. Pre sales reached at 1.13 Mn Sqft in Q3FY21 as compared to 1.06 Mn Sqft in Q3FY20 and 0.89 Mn sqft in Q2FY21. Bengaluru still contributes 69% of total sales number. Sales recovered better than the expected and even in most of the geographies pre sales number breaks the previous year records also. We have a positive outlook on Sobha limited with a target price of Rs 550."

  • 10:58 IST:  Yash Gupta Equity Research Associate, Angel Broking  said," Sobha limited sales number recovered in Q3FY21 after the dip in H1FY21, Pre sales were better than the last year and best every quarterly sales volumes. Sobha limited reported pre sales of Rs 887 Cr up by  % in Q3FY21 from Rs 716 Cr in Q3FY20. Pre sales reached at 1.13 Mn Sqft in Q3FY21 as compared to 1.06 Mn Sqft in Q3FY20 and 0.89 Mn sqft in Q2FY21. Bengaluru still contributes 69% of total sales number. Sales recovered better than the expected and even in most of the geographies pre sales number breaks the previous year records also. We have a positive outlook on Sobha limited with a target price of Rs 550."

  • Jan 08, 2021 10:47 (IST)

    Real estate sector update

    Maharashtra government gives bonanza for real estate developer & Home buyer by cutting real estate premiums by 50%. After slashing stamp duty from 5% to 3% until 31st march 2021, Maharashtra government cuts all real estate premiums by 50%. As per the real estate developers cost of real estate premiums is around 15%-30% of overall cost.  This real estate premium cuts when the real estate sector is recovering from the multi year slowdown due to one other reason like Demon, RERA, Covid lockdowns.
    In December 2020 Mumbai real estate saw highest sales registration as pent up demand due to the covid lockdown in H1FY21. We expect this reduction in real estate premiums will help developers to complete projects with less financial burden and developers to pass on this cost benefit to end consumers also. We expect Maharashtra real estate sector to shine in 2021 after the multi year dullness. We have a positive outlook OBEROI REALTY LTD."

  • 10:47 IST: Maharashtra government gives bonanza for real estate developer & Home buyer by cutting real estate premiums by 50%. After slashing stamp duty from 5% to 3% until 31st march 2021, Maharashtra government cuts all real estate premiums by 50%. As per the real estate developers cost of real estate premiums is around 15%-30% of overall cost.  This real estate premium cuts when the real estate sector is recovering from the multi year slowdown due to one other reason like Demon, RERA, Covid lockdowns.
    In December 2020 Mumbai real estate saw highest sales registration as pent up demand due to the covid lockdown in H1FY21. We expect this reduction in real estate premiums will help developers to complete projects with less financial burden and developers to pass on this cost benefit to end consumers also. We expect Maharashtra real estate sector to shine in 2021 after the multi year dullness. We have a positive outlook OBEROI REALTY LTD."

  • Jan 08, 2021 10:45 (IST)

    Nifty Outlook






    Volatility remained the dominant theme yesterday as expected, but a directional move may be in line today, once 14280 gives away. The next objective of 14440-14540 may take a few days to materialize though, and until then collapse theories may be kept at bay. However, 14040/14000 region will be crucial to such a play.

  • 10:45 IST:




    Volatility remained the dominant theme yesterday as expected, but a directional move may be in line today, once 14280 gives away. The next objective of 14440-14540 may take a few days to materialize though, and until then collapse theories may be kept at bay. However, 14040/14000 region will be crucial to such a play.

  • Jan 08, 2021 10:27 (IST)

    Nifty techical outlook

    On markets opening --Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments said,"The index faces resistance at the 14250 level. If we can consistently trade above that price point we should target 14350-14400 as the next target. The market has a good support at the 13900-13950 zone."

     

  • 10:27 IST: On markets opening --Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments said,"The index faces resistance at the 14250 level. If we can consistently trade above that price point we should target 14350-14400 as the next target. The market has a good support at the 13900-13950 zone."

     

  • Jan 08, 2021 10:25 (IST)

    Global market trade mostly higher today

    Asian markets are trading positive taking cues from overnight US markets which had scaled record highs. Nikkei gained close to 1.5% as its household spending rose 1.1% YoY in Nov.

    US markets closed at record highs as hope for more fiscal stimulus and spending to drive the economy with Democrats gaining control of both house of Congress.

    European markets closed higher after US congress confirmed Joe Biden as the next President of US. Euro zone economic sentiment improved in Dec while inflation remained below 0.

     

  • 10:25 IST: Asian markets are trading positive taking cues from overnight US markets which had scaled record highs. Nikkei gained close to 1.5% as its household spending rose 1.1% YoY in Nov.

    US markets closed at record highs as hope for more fiscal stimulus and spending to drive the economy with Democrats gaining control of both house of Congress.

    European markets closed higher after US congress confirmed Joe Biden as the next President of US. Euro zone economic sentiment improved in Dec while inflation remained below 0.

     

  • Jan 08, 2021 09:48 (IST)

    Market morning view

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

    "Formal certification of Biden presidency and Trump promising smooth transition of power have further pushed US markets higher. Even though this might embolden our bulls too, there are some areas of concern. FII inflows are steadily declining and low- grade stocks are touching record highs. Irrational retail investor enthusiasm for 'cats & dogs' is an indication for caution. This is not the time for exuberance. Investors can use the present excessive optimism to sell poor quality stocks in the portfolio. "

     

  • 09:48 IST: Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

    "Formal certification of Biden presidency and Trump promising smooth transition of power have further pushed US markets higher. Even though this might embolden our bulls too, there are some areas of concern. FII inflows are steadily declining and low- grade stocks are touching record highs. Irrational retail investor enthusiasm for 'cats & dogs' is an indication for caution. This is not the time for exuberance. Investors can use the present excessive optimism to sell poor quality stocks in the portfolio. "

     

  • Jan 08, 2021 09:34 (IST)

    This credit card company's stock delivered over 100% returns in 7 months

    Shares of SBI Cards and Payment Services, a subsidiary of State Bank of India, rose over 3 per cent, extending its winning streak for the eleventh straight session, to hit fresh record high of Rs 1,001.5 in intraday trade on Thursday on the back of strong volume. The stock breached its previous high of Rs 918.60 attained on October 15, 2020. SBI Cards delivered a return of 102.2 per cent over the last seven months, from its 52-week low of Rs 495.25 as on May 22, 2020.  

    The stock has rallied 51 per cent since its March 16 listing price of Rs 661. The market capitalisation (m-cap) of SBI Cards surged to Rs 91,804.69 crore, nearly 35 per cent of the market value of SBI, which stood at Rs 2.56 lakh crore. 

    This credit card company's stock delivered over 100% returns in 7 months

  • 09:34 IST: Shares of SBI Cards and Payment Services, a subsidiary of State Bank of India, rose over 3 per cent, extending its winning streak for the eleventh straight session, to hit fresh record high of Rs 1,001.5 in intraday trade on Thursday on the back of strong volume. The stock breached its previous high of Rs 918.60 attained on October 15, 2020. SBI Cards delivered a return of 102.2 per cent over the last seven months, from its 52-week low of Rs 495.25 as on May 22, 2020.  

    The stock has rallied 51 per cent since its March 16 listing price of Rs 661. The market capitalisation (m-cap) of SBI Cards surged to Rs 91,804.69 crore, nearly 35 per cent of the market value of SBI, which stood at Rs 2.56 lakh crore. 

    This credit card company's stock delivered over 100% returns in 7 months

  • Jan 08, 2021 09:31 (IST)

    Market-cap of BSE-listed companies' surges to record Rs 193.18 lakh crore

    The market capitalisation of all BSE-listed companies zoomed to a fresh lifetime high of over Rs 193.18 lakh crore on Thursday.

    At close of trade, the total market valuation of all listed frims on the BSE stood at Rs 1,93,18,126.74 crore (USD 2.6 trillion).

    The BSE benchmark Sensex slipped nearly 81 points to close at 48,093.32 on Thursday despite opening with gains.

    "Taking cue from a positive opening in the Asian market, today the domestic market too opened higher. However, the optimism was short lived, and profit-booking led to the benchmark index ending flat for the day," said Sumeet Bagadia, Executive Director, Choice Broking.

    Market-cap of BSE-listed companies' surges to record Rs 193.18 lakh crore

  • 09:31 IST: The market capitalisation of all BSE-listed companies zoomed to a fresh lifetime high of over Rs 193.18 lakh crore on Thursday.

    At close of trade, the total market valuation of all listed frims on the BSE stood at Rs 1,93,18,126.74 crore (USD 2.6 trillion).

    The BSE benchmark Sensex slipped nearly 81 points to close at 48,093.32 on Thursday despite opening with gains.

    "Taking cue from a positive opening in the Asian market, today the domestic market too opened higher. However, the optimism was short lived, and profit-booking led to the benchmark index ending flat for the day," said Sumeet Bagadia, Executive Director, Choice Broking.

    Market-cap of BSE-listed companies' surges to record Rs 193.18 lakh crore

  • Jan 08, 2021 09:18 (IST)

    Opening session


    Market indices opened on a bullish note on Friday, amid positive global equities. SGX Nifty on the Singapore Exchange was rising by 90 points, indicating positive trend in domestic grounds today. Sensex rose 350 points to 48,445 and Nifty was rising by 105 points to 14,240.

  • 09:18 IST:
    Market indices opened on a bullish note on Friday, amid positive global equities. SGX Nifty on the Singapore Exchange was rising by 90 points, indicating positive trend in domestic grounds today. Sensex rose 350 points to 48,445 and Nifty was rising by 105 points to 14,240.

  • Jan 08, 2021 09:16 (IST)

    Global markets

    Asian stocks are trading mixed on Friday. In US, stocks rose to all-time highs on Thursday.

    A day after supporters of Donald Trump invaded the U.S. Capitol, the outgoing US President Donald Trump said on Thursday that there will be an "orderly" transfer of power to Joe Biden on January 20. Trump's remarks came minutes after a Joint Session of the US Congress formally certified the Electoral College victory of Biden as the next US President and Kamala Harris as the Vice President in the November 3 election. Biden, 78, and Harris, 56, are scheduled to be sworn in as the President and Vice President of the country on January 20.

    Traders continued to focus on the possibility for additional fiscal aid after the Democratic party secured a slim majority in the Senate, giving it control of both congressional chambers.



    Presidential elections were held on November 3. Biden and Harris won a record number of popular votes, more than 80 millions and earned as many as 306 Electoral College votes.

  • 09:16 IST: Asian stocks are trading mixed on Friday. In US, stocks rose to all-time highs on Thursday.

    A day after supporters of Donald Trump invaded the U.S. Capitol, the outgoing US President Donald Trump said on Thursday that there will be an "orderly" transfer of power to Joe Biden on January 20. Trump's remarks came minutes after a Joint Session of the US Congress formally certified the Electoral College victory of Biden as the next US President and Kamala Harris as the Vice President in the November 3 election. Biden, 78, and Harris, 56, are scheduled to be sworn in as the President and Vice President of the country on January 20.

    Traders continued to focus on the possibility for additional fiscal aid after the Democratic party secured a slim majority in the Senate, giving it control of both congressional chambers.



    Presidential elections were held on November 3. Biden and Harris won a record number of popular votes, more than 80 millions and earned as many as 306 Electoral College votes.

  • Jan 08, 2021 09:14 (IST)

    FII action

    Foreign portfolio investors (FPIs) bought shares worth Rs 382.30 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 989.50 crore in the Indian equity market on 7 January, provisional data showed.


     

  • 09:14 IST: Foreign portfolio investors (FPIs) bought shares worth Rs 382.30 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 989.50 crore in the Indian equity market on 7 January, provisional data showed.


     

  • Jan 08, 2021 09:11 (IST)

    Market outlook

     Ruchit Jain (Senior Analyst - Technical and Derivatives, Angel Broking): said," In last couple of sessions ,the Nifty has consolidated within a range but the real action lies within the midcap and small cap basket. There are no signs of reversal yet and hence the broader trend continues to be positive. However, traders now need to focus more on stock specific opportunities where better trading opportunities are seen. For the coming session, the support for Nifty are placed around 14088 and 14040 whereas resistances are seen around 14250 and 14300. As the trend remains positive, traders are advised to look for buying  opportunities in intraday declines.”

  • 09:11 IST:  Ruchit Jain (Senior Analyst - Technical and Derivatives, Angel Broking): said," In last couple of sessions ,the Nifty has consolidated within a range but the real action lies within the midcap and small cap basket. There are no signs of reversal yet and hence the broader trend continues to be positive. However, traders now need to focus more on stock specific opportunities where better trading opportunities are seen. For the coming session, the support for Nifty are placed around 14088 and 14040 whereas resistances are seen around 14250 and 14300. As the trend remains positive, traders are advised to look for buying  opportunities in intraday declines.”

  • Jan 08, 2021 09:09 (IST)

    Rupee closing

    On the currency front, Indian rupee, the domestic currency plunged 20 paise to end at 73.31 against US dollar, tracking weak domestic equities and rebound in American currency.

  • 09:09 IST: On the currency front, Indian rupee, the domestic currency plunged 20 paise to end at 73.31 against US dollar, tracking weak domestic equities and rebound in American currency.

  • Jan 08, 2021 09:09 (IST)

    Closing

    Yesterday, in a volatile trading session, market indices reversed trend on Thursday and closed lower for the second straight session, in line with weak global equities. Sensex ended 80 points lower at 48,093 and Nifty fell by 8 points to 14,137.

     

  • 09:09 IST: Yesterday, in a volatile trading session, market indices reversed trend on Thursday and closed lower for the second straight session, in line with weak global equities. Sensex ended 80 points lower at 48,093 and Nifty fell by 8 points to 14,137.