Stock Market HIGHLIGHTS: Sensex ends volatile session 369 pts below day's high, Nifty gives up 17,750; Tata Steel slumps
Stock Market HIGHLIGHTS: Indian equity benchmarks began Tuesday's largely flat amid listless trade, amid a mixed trend across global markets as investors took support in positive macroeconomic data from the world's largest economy that eased concerns about the risk of recession but fuelled worries about a longer period of hikes in benchmark interest rates.
Here are 10 things to know about the February 7 session on Dalal Street:
1) The 30-scrip index finished the day with a loss of 220.9 points or 0.4 per cent at 60,286, having gyrated in a range of nearly 600 points around the flatine in intraday trade. The Nifty50 settled at 17,721.5, down 43.1 points or 0.2 per cent from its previous close, after moving broadly within the 17,650-17,850 range through the day.
2) A total of 31 stocks in the Nifty50 basket closed lower. Tata Steel, Hindalco, ITC, Hero MotoCorp, Maruti Suzuki, Sun Pharma and Hindustan Unilever were the top laggards, finishing between 1.5 per cent and 5.3 per cent lower.
3) On the other hand, Adani Enterprises was the top gainer, finishing the day with a surge of 15.3 per cent. Among other top blue-chip gainers were Adani Ports, Dr Reddy's, Kotak Mahindra Bank, IndusInd, Bajaj Finance and Bajaj Auto, rising around 1-2 per cent for the day.
4) Among heavyweights, ITC, Tata Steel, Hindustan Unilever and Infosys were the biggest drags on the Nifty50 gauge. On the flipside, Adani Enterprises, Kotak Mahindra Bank and Bajaj Finance helped the 50-scrip index avoid deeper losses.
5) The Nifty FMCG was the worst hit among NSE's sectoral indices, falling 1.2 per cent, dragged by ITC and HUL.
6) Overall market breadth was in favour of the bears, with an advance-decline ratio of 3:4 as 1,484 stocks rose and 2,010 fell at the close on BSE.
7) Investors awaited the outcome of a bi-monthly review by RBI Governor Shaktikanta Das-led Monetary Policy Committee (MPC) due on Wednesday for domestic cues.
8) The rupee barely strengthened to end at 82.70 against the US dollar.
9) European markets clocked cautious gains, mirroring the trend across much of Asia, ahead of comments by central bank policymakers against the backdrop of expectations that the global interest-rate increase cycle would last for longer. The pan-European Stoxx 600 index was up 0.3 per cent at the last count.
10) S&P 500 futures were barely in the green, suggesting a muted start ahead on Wall Street.
Catch highlights of all market action, commentary and analysis, financial results, the views of Zee Business Managing Editor Anil Singhvi and other experts, stock investing and trading ideas — and much more — here on Zeebiz.com's blog:
Stock Market HIGHLIGHTS: Indian equity benchmarks began Tuesday's largely flat amid listless trade, amid a mixed trend across global markets as investors took support in positive macroeconomic data from the world's largest economy that eased concerns about the risk of recession but fuelled worries about a longer period of hikes in benchmark interest rates.
Here are 10 things to know about the February 7 session on Dalal Street:
1) The 30-scrip index finished the day with a loss of 220.9 points or 0.4 per cent at 60,286, having gyrated in a range of nearly 600 points around the flatine in intraday trade. The Nifty50 settled at 17,721.5, down 43.1 points or 0.2 per cent from its previous close, after moving broadly within the 17,650-17,850 range through the day.
2) A total of 31 stocks in the Nifty50 basket closed lower. Tata Steel, Hindalco, ITC, Hero MotoCorp, Maruti Suzuki, Sun Pharma and Hindustan Unilever were the top laggards, finishing between 1.5 per cent and 5.3 per cent lower.
3) On the other hand, Adani Enterprises was the top gainer, finishing the day with a surge of 15.3 per cent. Among other top blue-chip gainers were Adani Ports, Dr Reddy's, Kotak Mahindra Bank, IndusInd, Bajaj Finance and Bajaj Auto, rising around 1-2 per cent for the day.
4) Among heavyweights, ITC, Tata Steel, Hindustan Unilever and Infosys were the biggest drags on the Nifty50 gauge. On the flipside, Adani Enterprises, Kotak Mahindra Bank and Bajaj Finance helped the 50-scrip index avoid deeper losses.
5) The Nifty FMCG was the worst hit among NSE's sectoral indices, falling 1.2 per cent, dragged by ITC and HUL.
6) Overall market breadth was in favour of the bears, with an advance-decline ratio of 3:4 as 1,484 stocks rose and 2,010 fell at the close on BSE.
7) Investors awaited the outcome of a bi-monthly review by RBI Governor Shaktikanta Das-led Monetary Policy Committee (MPC) due on Wednesday for domestic cues.
8) The rupee barely strengthened to end at 82.70 against the US dollar.
9) European markets clocked cautious gains, mirroring the trend across much of Asia, ahead of comments by central bank policymakers against the backdrop of expectations that the global interest-rate increase cycle would last for longer. The pan-European Stoxx 600 index was up 0.3 per cent at the last count.
10) S&P 500 futures were barely in the green, suggesting a muted start ahead on Wall Street.
Catch highlights of all market action, commentary and analysis, financial results, the views of Zee Business Managing Editor Anil Singhvi and other experts, stock investing and trading ideas — and much more — here on Zeebiz.com's blog:
Latest Updates
Closing Bell | Sensex down 221 pts at 60,286, Nifty50 below 17,750
The 30-scrip index finishes the volatile session with a loss of 220.9 points or 0.4 per cent at 60,286, having gyrated in a range of 591.7 points during the session.
The Nifty50 settles at 17,721.5, down 43.1 points or 0.2 per cent from its previous close, after moving broadly within the 17,650-17,850 range in intraday trade.
Here's what their intraday charts look like:
Sensex
Nifty50
Stock Ideas | Vikas Sethi recommends buying Tata Chem futures
In an interaction with Zee Business Managing Editr Anil Singhvi, Vikas Sethi of Sethi Finmart shares two stock picks:
- Buy Tata Chem futures for a short-term target of Rs 1,070 with a stop loss at Rs 1,020
- Buy Ami Organics for a target of Rs 940 with a stop loss at Rs 875
HDFC Bank has potential to reach Rs 1,700 in 1-2 days: Rakesh Bansal
In an interaction with Zee Business Managing Editor Anil Singhvi, Rakesh Bansal of Rakesh Bansal Ventures suggests buying HDFC Bank shares for a target of Rs 1,700 over the next two days with a stop loss at Rs 1,645.
Momentum Pick | Buy ONGC, says Sumeet Bagadia
Sumeet Bagadia of Choice Broking suggests buying ONGC shares for a target of Rs 150-152 with a stop loss at Rs 141.
Q3 Results | Chambal Fertilizers & Chemicals profit at Rs 324.5 crore, misses analysts' estimates
Chambal Fertilizers & Chem reports a net profit of Rs 324.5 crore for the quarter ended December 2022, down 0.3 per cent on a year-on-year basis. Its revenue jumped 74.9 per cent to Rs 8,296.2 crore for the quarter compared with the year-ago period.
The company's board declared an interim dividend of Rs 4.5 per share, payable on or before March 7.
According to Zee Business research, the company's quarterly net profit was estimated at Rs 373 crore and revenue at Rs 7,514 crore.
Chambal Fertilizers & Chem off day's low after Q3 results announcement
Hero MotoCorp shares remain under pressure ahead of Q3 results
The auto maker's stock declines to as low as Rs 2,615.9, down by Rs 78.7 or 2.9 per cent from its previous close, ahead of the earnings announcement due later in the day.
Buy Tata Chemicals, Apollo Hospitals: Chandan Taparia
Chandan Taparia of Motilal Oswal Financial Services shares two stock ideas:
- Buy Tata chemicals for a target of Rs 1,070 with a stop loss at Rs 1,010
- Buy Apollo Hospitals for a target of Rs 4,550 with a stop loss at Rs 4,250
Ramco Cement profit falls 19% to Rs 67 crore, revenue soars 30%
The cement maker reports a standalone net profit of Rs 67.4 crore for the quarter ended December, as against a net profit of Rs 83 crore for the corresponding period a year ago. Its revenue jumps 29.7 per cent on a year-on-year basis to Rs 2,008.8 crore.
The company's margin contracts by 70 basis points to 14.2 per cent compared with the year-ago period.
Ramco Cements shares leap into the green after Q3 earnings announcement
The cement maker's stock surges by as much as Rs 19 or 2.8 per cent to Rs 702.5 apiece on BSE after the Q3 results announcement.
Market LIVE Update | ITC, HDFC twins, Tata Steel, ICICI Bank top drags on Nifty50
Here's a look at the Nifty50 heatmap:
Nifty50 stops only at 17,650 amid market fall
The Nifty50 benchmark index slides to as low as 17,652.6, having retreated 158.6 points from its strongest level of the day.
Market LIVE Update | Sensex drops 592 pts from day's high amid broad-based selling on Dalal Street
Kotak Mahindra Bank, TCS, Asian Paints, Bajaj Finance, L&T the only gainers in Sensex basket
Buy Canara Bank Rs 300 call option, target Rs 12: Sneha Seth
Sneha Seth of Angel One suggests buying the Rs 300 call option of Canara Bank for a target price of Rs 12 with a stop loss at Rs 5.75.
She also has a 'buy' on the Rs 360 call option of DLF for a target of Rs 17 with a stop loss at Rs 5.75.