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 the day in a volatile session on Friday, January 13.
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.
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.Infosys reported a quarterly net profit that met analysts' estimates and raised its revenue guidance for the year ending March 2023. Catch more on IT results here.
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
Infosys, HCL Tech pull Nifty IT lower
Rupee Vs Dollar: Expert Strategy
Anil Kumar Bhansali, Head of Treasury at Finrex Treasury Advisors LLP said that expected range for rupee will be 80.80 to 81.60 and his advice to exporters is to wait and watch for levels above 82.00 while Importers must buy the dips for hedging their payables.
"The US CPI came at expected levels of 6.50% taking the dollar index down to 102.20 levels as market now expects inflation to fall rapidly. The core inflation also came lower at 5.7%. Indias CPI inflation also came lower at 5.72% while the IIP grew at 7.1% after a negative reading of -4% last month," Bhansali said.
Oil companies and RBI may come to buy $ but as inflows resume uptics could get sold, he added. "Only matter of concern is Brent oil has reached $ 84 per barrel as Chinese opening increases demand of oil," Bhanali said.
(Disclaimer: The views/suggestions/advises expressed here in this article is solely by investment experts. Zee Business suggests its readers to consult with their investment advisers before making any financial decision.)
Markets LIVE: Rupee opens strong against Dollar. This was the fifth positive opening seen by INR this week against the greenback. The strength is on account of waekness in Dollar Index against a basket of six major currencies.
Markets LIVE: Trading Strategy by Anuj Gupta of IIFL Securities
Dow at 34309
Support 34050 / 33800
Resistance 34450 / 34700
Sideways to Up
SGX Nifty at 17977
Suppprt 17900 / 17800
Resistance 18150 / 18300
Sideways to Up
Bank Nifty at 42212
Support 42000 / 41600
Resistance 42700 / 43100
Sideways
USDINR at 81.62
Support 81.30 / 81.00
Resistance 81.80 / 82.10
Down
- BUY MCX GOLD FEB AT 55700 STOP LOSS 55450 TARGET 56200
- Buy MCX Silver Mar AT 68200 STOP LOSS 67600 TARGET 69500
- Sell MCX CRUDEOIL AT 6450 STOP LOSS 6600 TARGET 6200
- BUY MCX COPPER JAN AT 762 STOP LOSS 754 TARGET 775
- Buy NIFTY AT 17900 STOP LOSS 17800 TARGET 18150
- BUY BANKNIFTY AT 42000 STOP LOSS 41600 TARGET 42700
- SELL USDINR AT 81.80 STOP LOSS 82.10 TARGET 81.20
(Disclaimer: The views/suggestions/advises expressed here in this article is solely by investment experts. Zee Business suggests its readers to consult with their investment advisers before making any financial decision.)
Anil Singhvi Strategy on Nifty, Bank Nifty: key support and resistance levels
Indian marekts are set to open amid positive cues, Zee Business Managing Editor Anil Singhvi said while spelling out his strategy on Nifty and Bank Nifty. Cues remain favourable on three counts - benign US Inflation, lower than expected India CPI inflation and better results from IT majors Infosys and HCL Technologies, he added. He said that markets are near important support levels and one could expect positive action today, However, the trends will become directional only when Nifty ends above 18,000, he further said.
Amid positive global markets, positive domestic institutional investors (DIIs), negative foreign institutional investors (FIIs), neutral futures & options (F&O) and neutral sentiment cues, the short-term trend of the Indian stock markets will be positive on Friday, January 13, 2023.
Markets LIVE: Strategy on 20 Stocks
In today's edition of Traders Diary, Zee Business research team brings its exclusive research on 20 stocks that investors and traders can refer to while making their strategies in them. The research team of analyst Arman Nahar and Kushal Gupta recommends a buy, sell or hold strategy in cash stocks, futures and give their best picks for today.
Stocks in NEWS: HCL Tech, Infosys
IT majors Infosys and HCL Technologies announced their December quarter results on Thursday after market hours. The results were better than street's expectations. The stock are likley to be triggered from the news. Investors must keep an eye on these stocks.
Meanwhile, Wipro will also announce its quarterly results today and investors can expect action in this stock ahead of the results.
Stocks in NEWS: PVR, Rail Vikas Nigam, PVR
PVR Ltd: The National Company Law Tribunal (NCLT) on Thursday approved the amalgamation of the country's top two multiplex chains - PVR Limited and INOX Leisure.
Rail Vikas Nigam: The company has received its third order in a period of a week. This time, Rail Vikas Nigam has received the Letter of Award for the provision of automatic block signaling in the Taduku-Renigunta section in the Southern Railway. The project cost is worth Rs 38.97 crore.
Jay Shree Tea & Industries Ltd: The Board of Jay Shree Tea & Industries has approved the sale of Tukvar Tea Estate and Puttabong Resort in Darjeeling. The Tea Estate is having a production of 1.80 lakh kg of premium Darjeeling Tea Per annum.
Paytm: China's Alibaba Group (9988.HK) sold a 3.1 per cent stake in Indian digital payments firm Paytm for a total of $125 million through a block deal on Thursday. Shares of the company fell as much as 8.8 per cent to 528 rupees in afternoon trading and was last down 5.8 per cent as of 3:00 pm IST.
Thursday Market Recap
Closing Bell: Indian frontline indices S&P BSE Sensex and NSE Nifty50 retreated on Thursday marking their third consecutive loss. Banks and energy stocks were at the receiving end as selling pressure mounted on the day of expiry. While Sensex slipped below 60,000 to end the day at 59,958.99, down 147.51 points or 0.25 per cent while the broader market Nifty50 closed at 17,858.20, lower by 37.50 points or 0.21 per cent. Banking gauge Nifty Bank finished at 42,082.25, down 150.45 points or 0.36 per cent.
Market breadth in the 50-stock Nifty50 was evenly split with 25 stocks settling with declines. The top gainers were SBI Life, UltraTech Cement Company, HCL Technologies, Larsen & Toubro and Dr Reddy's Laboratories while the top losers were Divi's Laboratories, Reliance Industries, BPCL, Axis Bank and Tata Motors.
Good Morning! This is Shivendra Kumar and I am back with all the LIVE action from the markets. Watch this space to remain updated.