Share Market HIGHLIGHTS: Sensex ends 379 pts lower, Nifty gives up 21,700; Eicher Motors drops 4%; M&M, L&T, LTIM fall over 2%
Share Market HIGHLIGHTS: Domestic equity benchmarks Nifty50 and Sensex succumbed to selling pressure on Tuesday, January 2 amid thin and mixed global trade. Catch all the highlights of the January 2 session on Dalal Street, market commentary and analysis, the views of Zee Business Managing Editor Anil Singhvi and other experts, stock recommendations, and much more only on Zeebiz.coms blog.
Share Market HIGHLIGHTS: Domestic equity benchmarks Nifty50 and Sensex succumbed to selling pressure on Tuesday, January 2, amid thin and mixed global trade, as financial, auto and IT shares weighed on Dalal Street though gains in buying interest in select spaces, such as oil and gas, and healthcare, limited the downside. The 50-blue-chip index finished the day 76.1 points, or 0.4 per cent, lower at 21,665.8 and the leaner Sensex settled at 71,892.5, down 379.5 points, or 0.5 per cent, from its previous close.
Catch all the highlights of the January 2 session on Dalal Street, 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:
Latest Updates
Share Market Today | Eicher Motors, Mahindra & Mahindra, UltraTech, Larsen & Toubro top Nifty50 losers, fall up to 4%; Divi's, Sun Pharma among top gainers
Stock CMP Change (%) HINDUNILVR 2,614.95 -1.5 WIPRO 469.55 -1.59 ICICIBANK 982.2 -1.72 INDUSINDBK 1,571.00 -1.74 LTIM 6,148.50 -1.81 KOTAKBANK 1,864.80 -2.32 LT 3,440.90 -2.4 ULTRACEMCO 10,205.10 -2.47 M&M 1,661.00 -2.48 EICHERMOT 3,894.00 -3.57 Here are some of the top gainers in the 50-scrip universe:
Stock CMP Change (%) DIVISLAB 4,037.00 3.09 SUNPHARMA 1,295.15 2.77 COALINDIA 391.75 2.61 CIPLA 1,282.85 2.55 DRREDDY 5,932.00 1.9 BAJFINANCE 7,432.30 1.83 TATACONSUM 1,097.50 1.61 HINDALCO 617 1.08 ONGC 207.5 1.05 BHARTIARTL 1,022.75 0.96 Thank you! That's all today on Zeebiz.com's blog on the January 2 session on Dalal Street
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Share Market Today | Sensex ends 379 pts lower, Nifty gives up 21,700; Eicher Motors drops 4%; M&M, L&T, LTIM fall over 2%
Nifty50
Nifty Today LIVE | ICICI Bank, L&T, Kotak Bank, Infy among top drags
ICICI Bank, L&T, Kotak Bank, Infosys are among the top drags in Nifty baskets at this hour. On the contrary, RIL, Sun Pharma, Bajaj Finance and Coal India are the top movers.
Here's a look at the heatmap in the 50-scrip universe by weight:
Source: NSE
Share Market Today LIVE | Right time to invest in metal stocks? Jefferies cautiously optimistic for 2024
As market participants await the onset of the corporate earnings season for India Inc due next week, Jefferies has maintained a ‘buy’ call each Tata Steel, Coal India and Hindalco Industries while upgrading JSW Steel to ‘hold’ from ‘underperform’. The brokerage is cautiously optimistic on the metal basket, which had a tough 2023.
The Nifty Metal index, whose 15 constituents include Tata steel, Vedanta, Hindustan Zinc, SAIL and NALCO, finished a record-breaking 2023 on Dalal Street with a gain of 17.9 per cent, in line with a 20 per cent rise in the headline Nifty50 index—its best yearly return in two years.
The brokerage expects Coal India to register a healthy volume CAGR of 6-15 per cent over FY24-26 on the back of rising power demand, and Tata Steel and JSW Steel owing to capacity expansion.
"Coal India FY25-26 EPS are 19-21 per cent above Street (estimates). Its 7.3x FY25E PE and 7 per cent dividend yield are attractive," analysts at Jefferies wrote in the report. Read more
Share Market Today LIVE | Lemon Tree Hotels shares hit a 52-week high as Motilal Oswal sees over 14% stream
Lemon Tree Hotels shares clock a 52-week high at Rs 133.7 apiece on NSE. The upward movement in the stock came after Motilal Oswal gave an upside target of Rs 150 apiece. The counter trades at Rs 131.1, up 10.45 per cent on NSE.
Motilal Oswal is bullish on the stock for the following reasons:
1. Expanding wings in the luxury segment
As per the report, the hospitality company has established a niche for itself in the growing midmarket hospitality segment and is now expanding its wings by improving its presence in the top segment, which is beneficial.
2. To emerge as larger player
The report further said that the company is set to benefit significantly from the sectoral tailwinds and emerge as a larger and stronger player. Read more
Share Market Today LIVE | Lupin hits a 52-week high after Nomura's bullish stance; brokerage sees 21% upside
Shares of Lupin soar as they snapped a two-day losing streak to clock a 52-week high of Rs 1,381.5 apiece. Dalal Street showed buying interest in the stock after brokerage firm Nomura upgraded its target price for the pharma firm. Shares of Lupin trade up by 4.51 per cent or Rs 59.2 at Rs 1371.85 apiece on BSE. The market capitalisation of the pharmaceutical company stood at Rs 62,457.14 crore at the same time. Read more
Share Market Today LIVE | Nifty Bank trades over 350 pts lower amid sell-off
Source: NSE
Share Market Today LIVE | TCS shares trade in red - Buy, Sell or Hold? Here's what brokerage suggests
Shares of Tata Consultancy Services slip in red on D-Street, The counter trade 0.79 per cent lower at Rs 3,781.05 on NSE. The dip in share price comes post the company has announced that its board of directors will consider the announcement of a third interim dividend. The decision in this regard will be taken during the meeting which is scheduled for January 11.
TCS Interim Dividend: Record Date
The tech giant has also fixed the record date for the third interim dividend, if declared. According to the filing, January 19, 2024, is the record date for this purpose. Read more
Share Market Today LIVE | Nifty slips below 21,600, Sensex falls nearly 550 pts
Share Market Today LIVE | ONGC, Oil India rise; MRPL, Chennai Petro dip as new rates of windfall gain tax on crude come into effect
Oil stocks ONGC, Reliance Industries Limited, and Oil India are trading higher, while MRPL and Chennai Petro are down as new rates of windfall gain tax came into effect on Tuesday (January 2, 2023). The government increased windfall gain tax on domestic crude oil exports from Rs 1300 per tonne to Rs 2300 per tonne.The additional export duty on diesel and ATF has also been reduced to zero.
Amid the new changes of windfall tax rates, ZeeBiz takes you through the performance of prominent oil stocks.
ONGC
The stock of India's largest crude oil and natural gas producer is trading up by 0.73 per cent, or Rs 1.50, at Rs 206.75, at 9:39 am on Tuesday.
Oil India
The Oil India stock trade on a higher note as it gain by 0.50 per cent, or Rs 1.90, at Rs 380.2. Read more
Share Market Today LIVE | Zomato to zoom another 35%? CLSA raises target amid platform fee hike
After a stupendous 2023, Zomato shares are poised to add further to investors’ wealth, if the estimates of a top global brokerage are to go by. From January 1, 2024, Zomato has increased its platform fee by 33 per cent to Rs 4 in key markets, according to Zee Business research. The food delivery firm charged a fee to the tune of Rs 9 in some of the regions on New Year's Eve, according to the research. The latest increase comes on the back of an increase in the platform fee to Rs 2 in August.
What CLSA says
The brokerage maintained its 'buy' rating on Zomato after the latest hike in the fee by the food delivery firm. Its target for the stock, which has already showered investors with a return of 110 per cent in one year, stands at Rs 168, which implies a further upside of 35 per cent from the previous close. Read more
BHEL trades near 52-week high: here is what's driving the PSU stock
Bharat Heavy Electricals Ltd (BHEL) shares gain on Tuesday, January 2, as the state-run company bagged a host of orders. The BHEL counter gain as much as 2.6 per cent to Rs 203.4 apiece on NSE, coming within Re 1.3 of a 52-week high registered the previous day. The PSU major bagged an order from the Indian Navy, and a separate order to manufacture 80 Vande Bharat trains, Zee Business reported.
Share Market Today LIVE | Sensex drops over 350 pts, Nifty slips below 21,700
Anil Singhvi Market Strategy | Important levels to track in Nifty50, Nifty Bank today
Zee Business Managing Editor Anil Singhvi sees support for the headline Nifty50 index emerging at 21,600-21,675 levels and a strong buy zone at 21,500-21,600 levels on Tuesday, January 2. For the Nifty Bank, he expects support at 47,925-48,075 levels and a strong buy zone in the 47,725-47,850 range.
Read more on how Anil Singhvi views the Indian share market today and what he recommends
Currency Update | Rupee falls 9 paise to 83.30 against US dollar in early trade
Share Market Today LIVE | Nifty, Sensex trade in red
Nifty 50
Source: NSESensex
Source: BSE
Stocks to Watch | BHEL, LIC, Dhanlaxmi Bank, GR Infra, other stocks
Here are some stocks that will be in focus on Tuesday, January 2:
GR Infraprojects: The company emerged as a successful bidder and has received a Letter of Intent from REC Power Development and Consultancy Limited dated for the establishment of “Transmission system for Evacuation of Power from RE Projects in Rajgarh (1000 MW) SEZ in Madhya Pradesh‐Phase II".
Dhanlaxmi Bank: The bank, in its business update, informed that it had recorded a total business of Rs 24,657 crore in the quarter ending December 31 against Rs 22183 crore a year ago, up by 11.15 per cent.
Sheela Foam: The joint commissioner dropped the majority of demands of Goods and Services Tax (GST) Intelligence and has asked the parent company of Sleepwell Mattress to pay Rs 3,25,100 plus interest and a penalty of Rs 32510. On October 4, 2023, the company received a Show Cause-Cum-Demand Notice from the Commissioner of GST Intelligence, Gautam Budh Nagar, Greater Noida, alleging a tax demand of Rs 20.26 crore.
APL Apollo Tubes: The company registered a sales volume of 6,03,659 Ton in Q3FY24 compared to 6,05,049 Ton in Q3FY23 and 6,74,761 Ton in Q2FY24. Read more
Share Market Today LIVE | GIFT Nifty futures indicate a sluggish start ahead on Dalal Street
GIFT Nifty futures — an early indicator of the Nifty 50 index — are down 28.4 points or 0.13 per cent at 21,860.5 ahead of the opening bell on Dalal Street.
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