Share Market HIGHLIGHTS: Sensex sheds 536 pts, Nifty50 cracks below 21,550 as D-Street continues to fall for second straight day; Hindalco, JSW Steel drop 4%
Share Market HIGHLIGHTS: Domestic equity benchmarks Nifty50 and Sensex extended losses to a second straight session on Wednesday, January 3, 2024, amid weak signals from global markets as investors awaited minutes of the last FOMC meeting and jobs data from the worlds largest economy, due this week, for cues. Catch all the highlights of the January 3 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 continued to fall for a second straight session on Wednesday, January 3, 2024, dragged by heavy losses in IT, financial and oil & gas shares though gains in FMCG counters lent some support. Globally, equities fell as investors returned to trade after holidays amid fading optimism about early cuts in benchmark US interest rates, and awaited minutes of the last Fed policy review and the release of data on jobs in the world's largest economy, due this week, for cues.
Catch all the highlights of the January 3 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:
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Share Market Today | Nifty IT worst hit among NSE sectoral indices
It is the worst single-day slide for the IT index since July 21, 2023.
Index Change (%) Jan 3 close NIFTY IT -2.52 34,395.45 NIFTY METAL -1.81 7,878.40 NIFTY FINANCIAL SERVICES -0.42 21,256.55 NIFTY AUTO -0.12 18,317.50 NIFTY BANK -0.12 47,704.95 NIFTY FMCG 0.01 57,213.30 NIFTY PRIVATE BANK 0.05 24,576.55 NIFTY CONSUMER DURABLES 0.34 31,221.75 NIFTY MEDIA 0.49 2,454.45 NIFTY OIL & GAS 0.55 9,688.95 NIFTY HEALTHCARE INDEX 0.59 10,929.25 NIFTY PHARMA 0.61 17,379.80 NIFTY PSU BANK 1.15 5,801.05 NIFTY REALTY 1.23 788 Closing Bell | Sensex ends 536 pts lower, Nifty50 gives up 21,550 as market extends losses to second day; Hindalco, JSW Steel drop 4%
Domestic headline indices finish lower amid selling pressure in IT stocks, as global markets slide amid fading optimism about early US interest rate cuts ahead of the release of the Fed minutes and jobs data.
The Sensex sheds 535.9 points, or 0.8 per cent, to end at 71,356.6 and the Nifty settles at 21,517.4, down 148.5 points, or 0.7 per cent, from its previous close.
Nifty50
Share Market Today LIVE | Nifty slips to 21,500, Sensex cracks over 550 pts
Share Market Today LIVE | Bajaj Auto, Cipla, HAL, other stocks hit 52-week highs
As many as 53 stocks in the BSE 500 basket — the broadest index on the bourse — reached the milestone.
Stock CMP 52 Weeks High Previous 52 Weeks High(Price/Date) All Time High(Price/Date) ADANIPORTS 1,102.55 1,144.00 1,101.90 (18 Dec 2023) 1,324.00 (02 Jan 2008) AJANTPHARM 2,226.15 2,243.80 2,196.15 (02 Jan 2024) 3,450.00 (12 Mar 2015) ALKEM 5,264.40 5,264.45 5,239.95 (01 Jan 2024) 5,264.45 (03 Jan 2024) ALOKTEXT 27.92 29.01 25.86 (02 Jan 2024) 220.00 (19 Dec 1994) AMBUJACEM 538 549 539.55 (01 Jan 2024) 850.00 (29 Aug 1994) APOLLOHOSP 5,759.20 5,786.90 5,771.75 (02 Jan 2024) 5,930.70 (26 Nov 2021) ASTRAZEN 5,718.80 5,796.00 5,740.00 (26 Dec 2023) 5,796.00 (03 Jan 2024) BAJAJ-AUTO 6,936.25 6,939.00 6,832.75 (29 Dec 2023) 6,939.00 (03 Jan 2024) BIOCON 281.7 284.45 279.95 (15 Sep 2023) 1,188.00 (25 Apr 2017) CANBK 459.9 462.85 454.70 (14 Dec 2023) 844.00 (09 Nov 2010) CHAMBLFERT 386.35 388.2 386.20 (02 Jan 2024) 515.95 (19 Apr 2022) CIPLA 1,300.80 1,306.00 1,285.00 (02 Jan 2024) 12,000.00 (24 Mar 1992) CONCOR 884.1 890 882.00 (02 Jan 2024) 2,444.00 (27 Jun 2007) DIVISLAB 4,035.80 4,065.70 4,053.70 (02 Jan 2024) 7,180.00 (26 Jul 2007) ENGINERSIN 201.6 209.4 204.35 (02 Jan 2024) 2,599.00 (25 Mar 2010) FDC 415.05 432 428.00 (10 Aug 2023) 503.00 (24 Aug 1999) FLUOROCHEM 3,828.65 3,902.90 3,899.00 (02 Jan 2024) 4,172.95 (06 Oct 2022) GILLETTE 6,645.85 6,683.15 6,614.05 (28 Dec 2023) 8,200.00 (29 Oct 2019) GLAND 2,030.00 2,040.00 1,995.00 (27 Dec 2023) 4,350.00 (12 Aug 2021) GLAXO 2,075.00 2,121.05 2,079.35 (02 Jan 2024) 3,850.00 (31 Mar 2016) GLENMARK 898.55 903.1 901.45 (02 Jan 2024) 1,261.95 (21 Aug 2015) GODREJCP 1,169.80 1,173.85 1,161.00 (02 Jan 2024) 1,964.00 (21 Jun 2017) HAL 2,860.00 2,885.50 2,860.00 (01 Jan 2024) 4,180.00 (11 Sep 2023) INDHOTEL 453.05 455 451.00 (19 Dec 2023) 1,584.00 (10 May 2006) INDUSTOWER 207.45 209.35 208.90 (02 Jan 2024) 505.00 (29 May 2015) IRCON 187.05 189.75 181.65 (19 Dec 2023) 598.80 (19 Feb 2020) JBCHEPHARM 1,692.40 1,694.15 1,676.35 (02 Jan 2024) 3,049.15 (13 Sep 2023) JBMA 1,672.80 1,745.05 1,734.75 (02 Jan 2024) 1,745.05 (03 Jan 2024) JSL 598.45 604.95 600.00 (02 Jan 2024) 604.95 (03 Jan 2024) JUBLPHARMA 576.55 591.3 587.15 (02 Jan 2024) 1,345.00 (11 Mar 2004) KSB 3,509.35 3,579.95 3,549.00 (04 Dec 2023) 3,579.95 (03 Jan 2024) L&TFH 167.15 170.8 166.05 (01 Jan 2024) 213.60 (24 Oct 2017) LEMONTREE 128.85 135.8 133.70 (02 Jan 2024) 135.80 (03 Jan 2024) LUPIN 1,407.20 1,412.50 1,404.05 (02 Jan 2024) 2,127.00 (06 Oct 2015) MRF 130,494.00 130,935.95 130,725.55 (01 Jan 2024) 130,935.95 (03 Jan 2024) NBCC 88.5 88.52 85.93 (15 Dec 2023) 1,214.50 (06 Aug 2015) PIDILITIND 2,772.00 2,792.35 2,753.00 (29 Dec 2023) 2,916.85 (15 Sep 2022) POWERINDIA 5,437.15 5,534.15 5,531.30 (02 Jan 2024) 5,534.15 (03 Jan 2024) SANOFI 8,375.35 8,392.50 8,349.00 (02 Jan 2024) 9,300.00 (10 Aug 2021) SOBHA 1,093.00 1,099.00 1,088.00 (11 Dec 2023) 1,179.00 (20 Dec 2006) SPARC 390.75 399 344.50 (02 Jan 2024) 598.00 (10 Mar 2015) SUNPHARMA 1,300.85 1,304.10 1,298.95 (02 Jan 2024) 3,090.00 (29 Feb 2000) SUVENPHAR 743.8 749.4 738.00 (01 Jan 2024) 825.00 (18 Sep 2020) SWSOLAR 449.2 460 459.00 (19 Dec 2023) 755.50 (20 Aug 2019) TATACOFFEE 324.1 329.85 327.30 (01 Jan 2024) 1,675.00 (08 May 2013) THERMAX 3,186.40 3,247.80 3,227.85 (03 Oct 2023) 3,247.80 (03 Jan 2024) TORNTPHARM 2,355.75 2,367.45 2,351.65 (01 Jan 2024) 3,304.45 (31 Dec 2021) TRENT 3,072.10 3,108.40 3,089.60 (01 Jan 2024) 3,108.40 (03 Jan 2024) UBL 1,829.30 1,840.50 1,822.15 (02 Jan 2024) 2,019.60 (04 May 2006) VOLTAS 988.55 1,000.00 998.00 (02 Jan 2024) 1,356.90 (19 Oct 2021) VSTIND 4,082.85 4,328.45 4,065.30 (02 Jan 2024) 4,856.45 (22 Jan 2020) YESBANK 23.14 23.73 23.71 (02 Jan 2024) 1,884.85 (20 Sep 2017) ZYDUSLIFE 712.65 716 715.00 (02 Jan 2024) 2,159.80 (01 Oct 2015) Nifty Today LIVE | HDFC Bank, Infy, Hindalco, JSW Steel among top drags
HDFC Bank, Infosys, Hindalco and JSW Steel are among the top drags in the Nifty baskets at this hour. On the contrary, ITC, Bharti Airtel, Adani Enterprises and L&T are the top movers.
Here's a look at the heatmap in the 50-scrip universe by weight:
Source: NSE
Share Market Today LIVE | Vodafone Idea's slide continues after telecom co denies tie-up rumours with Elon Musk's Starlink
Vodafone Idea shares are trading lower on BSE on Wednesday (January 3, 2024) after the telecom company denied the reports that it was in tie-up talks with Elon Musk's satellite internet company, Starlink. Vodafone Idea is trading lower by 0.87 per cent, or Rs 0.14, at Rs 15.89, on BSE. Read more
Share Market Today LIVE | Emkay Global upgrades L&T Finance to buy; stock clocks 52-week high
Shares of L&T Finance Holdings clock a 52-week high of Rs 170.8 apiece on the BSE, thereby snapping a two-day losing streak. The stock draws buyers' interest after the brokerage, Emkay Global, upgraded the stock to 'buy' from 'reduce'. Shares of L&T Finance Holdings trade 3.05 per cent or Rs 4.95, higher at Rs 167.15 apiece on BSE. The market capitalisation of the company stands at Rs 41,579.87 crore. Read more
Share Market Today LIVE | MOIL India jumps after reporting record rise in production in December 2023
MOIL India shares are off to a good start on BSE after the manganese ore company reported a record monthly production in December 2023. The stock of the miniratna is up by 1.76 per cent, or Rs 5.55, at Rs 321.55 on BSE. Read more
Share Market Today LIVE | Nifty Bank trades nearly 100 lower
Source: NSE
Share Market Today LIVE | Nifty below 21,600, Sensex trades nearly 350 pts lower; JSW Steel, Hindalco, LTIMindtree among top blue-chip losers
Share Market Today LIVE | Avenue Supermarts shares slip over 3% post-Q3 business update; here is what brokerages say
Avenue Supermarts shares slip over 3 per cent on Wednesday (January 3) after brokerages gave mixed reactions to the DMart chain operator's Q3 business update, which was released on Tuesday. The company, for the quarter gone by, reported a 17.18 per cent increase in its standalone revenue from operations to Rs 13,247.33 crore.
The company had registered revenue from operations of Rs 11,304.58 crore in the October-December quarter a year ago, according to a quarterly update by Avenue Supermarts dated January 2. The total number of stores as of December 31, 2023, stood at 341
Post the business update, Morgan Stanley has maintained an overweight rating on Avenue Supermarts with a target price of Rs 4,471. Operational metrics have improved further, and the pace of store additions needs to pick up, the global brokerage said in its note.
HSBC has a ‘buy’ call on the DMart stock. The brokerage has reduced the target to Rs 4,600 from Rs 4,630. 3QFY24 sales growth declined sequentially to 17 per cent YoY; throughput improved but remained below pre-COVID-19 levels. Five stores were opened in 3Q (17 so far in FY24), taking the overall store count to 341—still a pedestrian pace, said the brokerage. Read more
Share Market Today LIVE | RVNL shares rise—here is what is driving the stock
Rail Vikas Nigam Ltd, NSE: RVNL shares gain in Wednesday's trade (January 3, 2024) after the joint venture KRDCL-RVNL received a Letter of Acceptance (LOA) from Southern Railway for a major redevelopment of the Varkala Sivagiri Railway Station. The order is worth over Rs 123 crore. The counter gain as much as three per cent to hit the day's high of Rs 186.35 on the NSE. Read more
Share Market Today LIVE | PNB stock off to a poor start despite PSU bank revealing impressive numbers in Q3 updates
Punjab National Bank shares trade 0.98 per cent lower at Rs 96.05 on NSE despite the public bank revealing impressive numbers in a third-quarter update. Read more
Share Market Today LIVE | Tata Motors stock's poor show continues after automaker delivers 100 e-buses to Assam
Tata Motors shares continue their poor run for the second day in succession on Wednesday (January 3, 2023) despite supplying 100 e-buses to Assam State Transport Corporation on Tuesday. The stock of the automaker is trading lower by 0.59 per cent, or Rs 4.60, at Rs 779.95 on Wednesday. Read more
Traders' Diary | Buy, sell or hold strategy on Mahindra EPC Irrigation, Mphasis, RVNL, MOIL, Affle India, over a dozen other stocks today
In this edition of Traders' Diary, Zee Business shares exclusive research on more than a dozen stocks that investors and traders can track on Wednesday, January 3. Here's a list of 20 stocks that are on analysts Varun Dubey and Kushal Gupta's radar.
Here's the complete list of investment and trading ideas for the day:
Varun Dubey
- Buy VST Industries shares in the cash segment for a target of Rs 4,270 with a stop loss at Rs 4,000
- Sell Polycab India futures for a target of Rs 5,220 with a stop loss at Rs 5,430
- Buy the Rs 2660 put option of Mphasis for a target of Rs 135 with a stop loss at Rs 90
- Technical pick: Sell Max Finance shares for a target of Rs 910 with a stop loss at Rs 954
- Fundamental pick: Buy RVNL shares for a target of Rs 188 with a stop loss at Rs 177. Read more
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 21,550-21,600 levels and a strong buy zone at 21,425-21,500 levels on Wednesday, January 3. For the Nifty Bank, he expects support at 47,500-47,650 levels and a strong buy zone in the 47,200-47,425 range.
Read more on how Anil Singhvi views the Indian share market today and what he recommends
Currency Update | Rupee rises 3 paise to 83.29 against US dollar in early trade
Share Market Today LIVE | Nifty above 21,600, Sensex trades over 200 pts lower
Nifty 50
Source: NSESensex
Source: BSE
Stocks to watch today | Vedanta, LTIMindtree, Coal India, RVNL, HZL, other stocks
Here are some stocks that will be in focus on Wednesday, January 3
Coal India
The company, through a filing, stated that it had supplied an all-time high volume of 98 million tonnes (mts) of coal to non-regulated sector (NRS) consumers until December in FY2024.
LTIMindtree
The IT firm's board will consider Q3 FY24 results on January 17, 2024.
Vedanta
The company's subsidiary, Bharat Aluminium Company Limited (BALCO), received a Goods and Service Tax (GST) demand notice of over Rs 22 crore for FY 2017-18 on account of procedural issues.
RVNL
The joint venture company KRDCL-RVNL received a Letter of Acceptance (LOA) from Southern Railway for a major redevelopment of the Varkala Sivagiri Railway Station. The order is worth over Rs 123 crore.
Jubilant FoodWorks
The company will acquire a 6.32 per cent stake in O2 Renewable Energy XVI Private Limited for the purchase of renewable energy power generated from the Captive Generating Plant.
JK Paper
Delhi and Chennai GST Officers have raised a tax demand of Rs 21.65 lakh and Rs 2.42 lakh, respectively, against the company. As per the filing, the company would file an appeal before the appellate authorities. There is no material impact on the financial, operational, or other activities of the company due to the aforesaid orders. Read more
Share Market Today LIVE | GIFT Nifty futures indicate a weaker start ahead on Dalal Street
GIFT Nifty futures — an early indicator of the Nifty 50 index — are down 75.75 points or 0.35 per cent at 21,681 ahead of the opening bell on Dalal Street.
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