Stock Market HIGHLIGHTS: Sensex ends 303 pts higher, Nifty reclaims 17,950 as market halts 3-day losing spree
Stock Market HIGHLIGHTS: Indian equity benchmarks Sensex and Nifty50 recovered initial losses in the second half of a volatile session on Friday. Gains in IT, financial, auto and metal shares pushed the headline indices higher, though losses in oil & gas counters limited the upside.
Here are 10 key things to know about the January 13 session on Dalal Street:
1) The Sensex ended 303.2 points or 0.5 per cent higher at 60,261.2, having recovered 632.8 points from the weakest level of the day, and the Nifty50 settled at 17,956.6, up 98.4 points or 0.6 per cent from its previous close.
2) A total of 37 stocks in the Nifty50 basket finished higher. Adani Enterprises, IndusInd, Eicher, Tata Steel, Infosys, Divi's and Hero MotoCorp were the top gainers, ending with gains of around 1-2 per cent. On the other hand, Titan, SBI Life, Apollo Hospitals, Nestle, Larsen & Toubro, ITC and Tata Consumer were the top laggards, declining between 0.2 per cent and 1.1 per cent.
3) Among heavyweights, Infosys, ICICI Bank and TCS were the biggest boosts for both headline indices, together contributing almost 200 points to the gain in Sensex.
4) The Nifty PSU Bank was the top gainer among NSE's sectoral indices, closing 1.4 per cent higher. The Nifty Bank -- whose 12 constituents include SBI, HDFC Bank, ICICI Bank, Kotak Mahindra Bank and Axis Bank -- rose 0.7 per cent.
5) Overall market breadth favoured the bulls at the close, with an advance-decline ratio of 6:5 as 1,929 stocks rose and 1,559 fell on BSE.
6) Analysts awaited more of corporate earnings from India Inc for domestic cues. Wipro edged higher on NSE ahead of the earnings announcement of the IT major due later in the day. On Thursday, HCL Tech and Infosys reported their quarterly earnings for the October-December period. (Catch highlights of latest IT results)
7) Official data released on Thursday showed consumer inflation in the country eased to a one-year low of 5.72 per cent in December 2022.
8) European shares rose amid gains in healthcare and banking shares following upbeat economic data from the UK. The pan-European Stoxx 600 index hovered around a nine-month high.
9) S&P 500 futures were down 0.8 per cent, suggesting a gap-down start ahead on Wall Street.
10) Earlier in the day, MSCI's broadest index of Asia Pacific shares outside Japan finished 1.1 per cent higher.
Catch highlights of the January 13 session on Dalal Street, and much more, here. For all other news related to business, economy, sports, tech, Auto Expo 2023 and more visit Zeebiz.com.
Stock Market HIGHLIGHTS: Indian equity benchmarks Sensex and Nifty50 recovered initial losses in the second half of a volatile session on Friday. Gains in IT, financial, auto and metal shares pushed the headline indices higher, though losses in oil & gas counters limited the upside.
Here are 10 key things to know about the January 13 session on Dalal Street:
1) The Sensex ended 303.2 points or 0.5 per cent higher at 60,261.2, having recovered 632.8 points from the weakest level of the day, and the Nifty50 settled at 17,956.6, up 98.4 points or 0.6 per cent from its previous close.
2) A total of 37 stocks in the Nifty50 basket finished higher. Adani Enterprises, IndusInd, Eicher, Tata Steel, Infosys, Divi's and Hero MotoCorp were the top gainers, ending with gains of around 1-2 per cent. On the other hand, Titan, SBI Life, Apollo Hospitals, Nestle, Larsen & Toubro, ITC and Tata Consumer were the top laggards, declining between 0.2 per cent and 1.1 per cent.
3) Among heavyweights, Infosys, ICICI Bank and TCS were the biggest boosts for both headline indices, together contributing almost 200 points to the gain in Sensex.
4) The Nifty PSU Bank was the top gainer among NSE's sectoral indices, closing 1.4 per cent higher. The Nifty Bank -- whose 12 constituents include SBI, HDFC Bank, ICICI Bank, Kotak Mahindra Bank and Axis Bank -- rose 0.7 per cent.
5) Overall market breadth favoured the bulls at the close, with an advance-decline ratio of 6:5 as 1,929 stocks rose and 1,559 fell on BSE.
6) Analysts awaited more of corporate earnings from India Inc for domestic cues. Wipro edged higher on NSE ahead of the earnings announcement of the IT major due later in the day. On Thursday, HCL Tech and Infosys reported their quarterly earnings for the October-December period. (Catch highlights of latest IT results)
7) Official data released on Thursday showed consumer inflation in the country eased to a one-year low of 5.72 per cent in December 2022.
8) European shares rose amid gains in healthcare and banking shares following upbeat economic data from the UK. The pan-European Stoxx 600 index hovered around a nine-month high.
9) S&P 500 futures were down 0.8 per cent, suggesting a gap-down start ahead on Wall Street.
10) Earlier in the day, MSCI's broadest index of Asia Pacific shares outside Japan finished 1.1 per cent higher.
Catch highlights of the January 13 session on Dalal Street, and much more, here. For all other news related to business, economy, sports, tech, Auto Expo 2023 and more visit Zeebiz.com.
Latest Updates
Closing Bell | Sensex ends 303 pts higher, Nifty reclaims 17,950 as market halts 3-day losing spree
Here's how the Sensex moved today:
Wipro shares decline as investors await Q3 results due later today
The Wipro stock is quoting lower by Rs 1.9 or 0.5 per cent at Rs 392.6 apiece on BSE 25 minutes before the closing bell.
Here's how Wipro shares performed in Q3:
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Buy Gravita India for targets up to Rs 500: Simi Bhaumik
Technical analyst Simi Bhaumik recommends buying Gravita India shares at Rs 448 apiece for targets of Rs 470, Rs 485 and Rs 500 with a stop loss at Rs 420.
Here's how Paytm shares have fared in the past one year
Paytm shares hold on to the green amid choppy trade
The stock of Paytm parent One97 Communications is up by Rs 10 or 1.8 per cent at Rs 552.3, having moved between Rs 533.6 and Rs 556.5 apiece earlier in the day so far.
At the current level, the stock is changing hands at a discount of 74 per cent to its issue price.
According to Morgan Stanley, Paytm will be a key beneficiary of India's UPI incentive scheme.
Market expert Kunal Saraogi in unimpressed by the Paytm stock's technical chart. Though there is a pullback from lower levels, the structure remains extremely weak, he says.
Earlier, technical analyst Simi Bhaumik recommended buying Paytm shares for targets of Rs 590 and Rs 600. (Read more on Paytm shares)
Editor's Take | Zee Business Managing Editor Anil Singhvi says rising commodity prices likely to cause inflationary pressure again
Zee Business Managing Editor Anil Singhvi believes the latest inflation reading from the US supports the estimate of just one more hike in benchmark interest rates in the current cycle of policy tightening. The inflation print is better than market expectations, he points out.
"It is difficult to find additional positive signals for Wall Street at the current juncture," Singhvi adds.
He cautions investors against celebrating incoming inflation readings. "Commodity prices are likely to cause inflationary pressure going forward."
Nifty50 comes within inches of 17,900
The Sensex is up 63.2 points or 0.1 per cent at 60,021.3 and the Nifty50 at 17,886.9, up 28.7 points or 0.2 per cent from its previous close.
Here's what the intraday chart of the 50-scrip index looks like so far:
Sensex returns above 60,000 mark as market turns green
Nifty50 is down 1.5% in past 15 sessions -- a period in which FIIs have remained net sellers of Indian shares
HCL Tech Results | Here's what brokerages recommend
HCL Tech shares down 2% after Q3 results
HCL Tech shares are quoting lower by Rs 19.8 or 1.9 per cent at Rs 1,052.1 apiece on BSE, having declined to as low as Rs 1,042 apiece earlier in the day.
Infosys shares under pressure after Q3 results
Infosys shares are trading with a cut of Rs 4.7 or 0.3 per cent at Rs 1,475.9 apiece on BSE, having gyrated in a range of Rs 1,468-1,491.7 in intraday trade so far.
Buy J&K Bank for target of Rs 60-64: Sumeet Bagadia
In an interaction with Zee Business Managing Editor Anil Singhvi, Sumeet Bagadia of Choice Broking suggests buying J&K Bank shares for a target price of Rs 60-64 with a stop loss at Rs 51.
Tata Steel, Mahindra & Mahindra, NTPC, UltraTech top Sensex gainers
IndusInd Bank, PowerGrid, Bharti Airtel, Maruti Suzuki and SBI are some of the other gainers in the 30-scrip index 45 minutes into the opening bell.
On the other hand, Axis Bank, Titan, Kotak Mahindra Bank, Asian Paints, the HDFC twins and Infosys are the top laggards.
Market breadth in favour of the bulls
