Share Market Crash HIGHLIGHTS: Sensex tanks 1,628 pts, Nifty slumps to 21,572 as market bleeds; HDFC Bank plummets 8%
Share Market Crash, Sensex crash, Nifty Crash HIGHLIGHTS: Domestic equity benchmarks Sensex and Nifty50 suffered steep losses amid market-wide weakness on Wednesday, January 17, with heavyweight HDFC Bank taking a huge hit as investors stared at an alarming loan-deposit ratio in the lender's Q3 earnings report.
Catch all the action on Dalal Street on January 17, market commentary and analysis, the views of Zee Business Managing Editor Anil Singhvi and other experts, stock recommendations, and much more only on Zeebiz.com's blog:
Share Market Crash, Sensex crash, Nifty Crash HIGHLIGHTS: Domestic equity benchmarks Sensex and Nifty50 suffered steep losses amid market-wide weakness on Wednesday, January 17, with heavyweight HDFC Bank taking a huge hit as investors stared at an alarming loan-deposit ratio in the lender's Q3 earnings report.
Catch all the action on Dalal Street on January 17, market commentary and analysis, the views of Zee Business Managing Editor Anil Singhvi and other experts, stock recommendations, and much more only on Zeebiz.com's blog:
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Share Market Today | HDFC Bank, Tata Steel, Kotak Mahindra Bank, Axis Bank, Hindalco worst hit among 39 Nifty50 losers; Apollo Hospitals, HCLTech, Tech Mahindra, SBI Life top gainers
Here are some of the top gainers and losers at the end of trade:
| Index | Change (%) | Jan 17 close |
| Apollo Hospitals (APOLLOHOSP) | 1.28 | 5,980.35 |
| HCL Technologies (HCLTECH) | 1.13 | 1,572.95 |
| Tech Mahindra (TECHM) | 0.95 | 1,333.00 |
| SBI Life (SBILIFE) | 0.87 | 1,421.00 |
| LTIMindtree (LTIM) | 0.71 | 6,280.00 |
| Infosys (INFY) | 0.58 | 1,641.00 |
| ICICI Bank (ICICIBANK) | -2.93 | 979.5 |
| HINDALCO | -3.26 | 560.65 |
| Axis Bank (AXISBANK) | -3.43 | 1,080.75 |
| KOTAKBANK | -3.76 | 1,778.50 |
| Tata Steel (TATASTEEL) | -3.97 | 131.8 |
| HDFC Bank (HDFCBANK) | -8.16 | 1,542.15 |
Share Market Today | Nifty Bank falls most among NSE sectoral indices; Nifty IT ekes out 0.6% gain, the only sectoral gauge to rise in bleeding market
Here's where the bourse's sectoral barometers stand at the end of the session dominated by the bears:
| Index | Change (%) | Jan 17 close |
| NIFTY BANK | -4.28 | 46,064.45 |
| NIFTY FINANCIAL SERVICES | -4.28 | 20,528.90 |
| NIFTY PRIVATE BANK | -4.23 | 23,798.35 |
| NIFTY METAL | -3.13 | 7,693.55 |
| NIFTY PSU BANK | -1.74 | 5,830.00 |
| NIFTY AUTO | -1.42 | 18,447.25 |
| NIFTY REALTY | -1.42 | 856.3 |
| NIFTY OIL & GAS | -0.99 | 10,128.90 |
| NIFTY PHARMA | -0.96 | 17,154.00 |
| NIFTY FMCG | -0.87 | 56,259.50 |
| NIFTY HEALTHCARE INDEX | -0.69 | 10,858.25 |
| NIFTY CONSUMER DURABLES | -0.16 | 32,252.45 |
| NIFTY MEDIA | -0.12 | 2,404.70 |
| NIFTY IT | 0.64 | 36,960.40 |
Closing Bell | Sensex plunges over 1,600 pts, Nifty50 cracks below 21,600 amid market-wide sell-off
Share Market Today LIVE | UBS initiates coverage on Paytm; check out what the brokerage recommends
Global brokerage UBS sees over 20 per cent upside in One 97 Communications, the parent company of Paytm, compared to Tuesday's closing price. The brokerage has a positive view as it reckons a strong top-line compound annual growth rate (CAGR) of 54 per cent in FY21-24E, driven by its core payment business and supported by device and loan origination monetisation.
Further, the brokerage believes that fintech giant profitability dynamics have improved, with its contribution margin rising to 50 per cent of revenue and positive earnings before interest, tax, depreciation, and amortisation (EBITDA).
Giving an outlook on Paytm, the brokerage said regulatory issues have passed for payments and the company is expected to benefit from a 24 per cent CAGR in the payment player fee pool in FY23-28E. Read more
Share Market Today LIVE | Nifty slips below 21,600, Sensex tanks 1,500 pts
Share Market Tips LIVE | Buy BHEL shares, says Vikas Sethi
Vikas Sethi of Sethi Finmart recommends buying BHEL futures for a target of Rs 215 with a stop loss at Rs 199.
Share Market Today LIVE | IEX shares nosedive amid market coupling fears
Indian Energy Exchange (IEX) shares suffer steep losses amid market-wide weakness on Wednesday. IEX shares tumble by as much as Rs 13.2, or 8.0 per cent, to Rs 150.9 apiece on BSE after Union Power Minister RK Singh said in an exclusive interaction with Zee Business that market coupling—or a uniform market clearing price for buyers and sellers in all exchanges operating in an area—will be implemented soon. According to analysts, investors feared the implementation of market coupling of power exchanges that would impact IEX, which enjoys a share of 90 per share in total market volume. Read more
Share Market Today LIVE | LTIMindtree trades flat ahead of Q3 result announcement; here is what to expect
Shares of LTIMindtree are trading flat with a positive bias at Rs 6,244.55 apiece on the BSE (up 0.16 per cent), in a weak market ahead of their December quarter (Q3FY24) result announcement, due later in the day.
Zee Business Research expects the company to report 1.6 per cent QoQ growth in its consolidated revenue at Rs 9,045 crore for the quarter under review. The company had posted revenue of Rs 8,905 crore in the previous quarter. Revenue in dollar terms is seen rising 1 per cent QoQ, while in constant currency (CC) terms, the revenue is expected to rise 1.2 per cent. Earnings before interest and tax (EBIT) are pegged at Rs 1,445 crore, up 1.5 per cent QoQ as compared to Rs 1,423 crore in Q2 FY24. Margins, on the other hand, are expected to remain flat at 16 per cent due to operational efficiency. Read more
Share Market Today LIVE | Nifty Bank sinks over 1,800 pts, down nearly 4%
Source: NSE
Share Market Today LIVE | Nifty slips below 21,650, Sensex tanks 1,400 pts
Share Market Today LIVE | Religare Broking maintains 'buy' on HDFC Bank with target of Rs 2,010/share
The brokerage remains positive on HDFC Bank citing its healthy credit demand.
The HDFC Bank management expects the margin to improve in the coming quarters as the deposits pace picks up and interest rates moderate, while the bank continues to maintain healthy asset quality, according to Religare Broking.
The bank is yet to see the synergies from the merger (with the erstwhile HDFC Ltd) which will enable in higher cross selling of products to existing customers, adds the brokerage, valuing the lender at a multiple of 2.4 times its FY26E adjusted book value.
Share Market Today LIVE | Cochin Shipyard hits record high, Indian Oil touches 52-week peak as PM to inaugurate major infra projects today
State-run shipbuilding and ship repair company Cochin Shipyard's shares soar to a record high on Wednesday as Prime Minister Narendra Modi was scheduled to inaugurate projects worth more than Rs 4,000 crore in Kochi in a major boost to the country's ports, shipping, and waterways sector. The stock of Cochin Shipyard (COCHINSHIP) surges by as much as Rs 88.4, or 11.2 per cent, to an all-time high of Rs 880.3 apiece on BSE, surpassing an earlier peak of Rs 1,409 registered in late December.
According to an official statement, the Prime Minister will inaugurate three major infrastructure projects around noon during his scheduled visit to Kochi: the New Dry Dock (NDD) at Cochin Shipyard, the International Ship Repair Facility (ISRF) of the shipbuilder, and the LPG import terminal of oil company Indian Oil Corporation at Puthuvypeen. Read more
Share Market Today LIVE | RVNL forms JV with Jakson Green; stock hits all-time high
Shares of Rail Vikas Nigam extend their gains for the seventh session and clock an all-time high of Rs 235.1 apiece on the BSE after the rail infrastructure company formed a joint venture with Jakson Green Private Limited and also formed a subsidiary company in South Africa.
The company's market capitalisation stood at Rs 48,737.34 crore. RVNL announced on Tuesday, after market hours, that it has formed a joint venture (JV) with Jakson Green Private Limited to explore solar EPC projects in India and abroad. Read more