Share Market HIGHLIGHTS: Sensex ends 671 pts lower, Nifty gives up 21,550 as D-Street halts two-day winning run; SBI Life, SBI drop 2%
Share Market HIGHLIGHTS: Domestic equity benchmarks Nifty 50 and Sensex finished lower on Monday, following two days of gains, amid selling pressure in financial, FMCG and IT stocks. Catch all the highlights of the January 8 session, 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 snapped a two-day winning run to finish 0.9 per cent lower on Monday, January 8, amid selling pressure in most spaces with financial, FMCG and IT shares being at the forefront of the weakness.
Globally, investors have turned cautious as they braced for US inflation data and a corporate reporting season where robust results are needed to justify high valuations.
Catch all the highlights of the January 8 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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INR vs USD Today | Rupee ends largely unchanged at 83.14 vs dollar
On Friday, the rupee finished the day at 83.15 against the greenback.
Share Market Today | UPL, SBI Life, Mahindra & Mahindra, SBI top Nifty50 losers, finish up to 3.4% weaker
Stock Jan 8 close Change (%) UPL 561.25 -3.44 SBILIFE 1,416.40 -2.6 M&M 1,606.10 -2.19 SBIN 627.9 -2.19 TECHM 1,223.00 -2.03 DIVISLAB 3,934.00 -2.01 TATACONSUM 1,102.10 -1.86 LTIM 5,838.00 -1.84 ITC 465.35 -1.81 BRITANNIA 5,180.00 -1.75 On the other hand, the stocks that rise the most among the top gainers in the blue-chip basket include ONGC (up 0.6 per cent), NTPC (up 0.5 per cent), NTPC (up 0.5 per cent), Sun Pharma (up 0.5 per cent), Hero MotoCorp (up 0.5 per cent) and BPCL (up 0.4 per cent).
Share Market Today | Nifty PSU Bank plummets 2.5%, worst hit among NSE's sectoral indices
The Nifty FMCG takes the second biggest hit among the bourse's sectoral gauges, settling 1.7 per cent weaker for the day.
Index Jan 8 close Change (%) NIFTY PSU BANK 5,691.40 -2.52 NIFTY FMCG 56,672.85 -1.72 NIFTY METAL 7,747.00 -1.59 NIFTY BANK 47,450.25 -1.47 NIFTY PRIVATE BANK 24,484.45 -1.44 NIFTY FINANCIAL SERVICES 21,292.45 -1.03 NIFTY HEALTHCARE INDEX 10,824.60 -1.02 NIFTY IT 34,514.65 -0.97 NIFTY PHARMA 17,195.95 -0.94 NIFTY CONSUMER DURABLES 31,268.90 -0.65 NIFTY OIL & GAS 9,720.80 -0.51 NIFTY AUTO 18,350.20 -0.31 NIFTY MEDIA 2,469.90 0.08 NIFTY REALTY 845.45 0.13 Closing Bell | Sensex ends 671 pts lower, Nifty50 slides to 21,513 as market snaps two-day winning streak
Both headline indices finish the day 0.9 per cent weaker. The Sensex sheds 670.9 points to end at 71,355.2 and the Nifty50 settles at 21,513, down 197.8 points from its previous close.
Nifty50
Read more on the closing bell here
Images: NSEIndia.com, BSEIndia.com
Share Market Today LIVE | Nifty IT slips nearly 1%
Source: NSE
Share Market LIVE | Nifty slips below 21,550, Sensex trades over 600 pts lower
Mutual fund data | SIP inflows cross Rs 17,000 crore mark for second back-to-back month
Monthly net assets under management (AUM) of the domestic mutual fund industry crossed the Rs 50 lakh crore mark for the first time ever, data from the Association of Mutual Funds in India (AMFI) released on Monday showed. The AUM tally stood at Rs 51,09,071.8 crore in the last month of 2023, according to the mutual fund industry body.
Equity mutual fund inflows came in at Rs 16,997 crore for the month, an increase of 9.4 per cent sequentially, with record inflows in the systematic investment plan (SIP) category, according to AMFI. Read more
Share Market Today LIVE | Nifty Bank falls nearly 400 pts
Source: NSE
Stocks to buy | L&T, Axis Bank, HUL among analysts' top picks
In conversation with Zee Business Managing Editor Anil Singhvi, market experts Himanshu Gupta, Rakesh Bansal, Kunal Saraogi, Sumeet Bagadia and Sandeep Jain share their top stock recommendations in this special segment, Pick of the Week.
On the analysts' 'buy' list are stocks such as Hindustan Copper (HINDCOPPER ), Computer Age Management Services (CAMS), Shipping Corporation of India (SCI), Larsen & Toubro (L&T), Carborundum Universal (CARBORUNIV), Abbott India (ABBOTINDIA ), Hindustan Unilever Limited (HUL) and Apollo Tyres (APOLLOTYRE ). Read more
Share Market Today LIVE | Despite unappealing financials and 33% correction from all-time high, this small-cap firm stock holds promise; here's why
Tasty Bite Eatables is a small-cap company engaged in the manufacturing and selling of prepared foods under the brand name Tasty Bite and Frozen Formed Products (FFP). After notching an all-time high of Rs 21,487 on July 8, 2021, the stock of Tasty Bites has descended by over 33 per cent to Rs 14,330 on January 8, 2024.
Being from the FMCG industry, the company, despite the dismal overall performance, reported an increase in net profit in Q2 FY24 to Rs 11.4 crore from Rs 9.5 crore in the same period last year. Read more
Share Market Today LIVE | Cement stocks trade mixed after CLSA warns of a ‘speed bump’ for sector this year
Cement stocks stages mixed moves on Monday after foreign brokerage CLSA said it expects growth in the sector tapering to mid-single-digits in 2024 though cost tailwinds may further boost profitability. Stocks such as Shree Cement and UltraTech Cement trade up to one per cent higher while Ambuja Cement drops three per cent. Read more
Share Market Today LIVE | Nifty slips below 21,600, Sensex falls nearly 500 pts dragged by financial, FMCG stocks
Share Market Today LIVE | Jindal Stainless, PNB, and BHEL strong contenders to be included in MSCI Standard Index: Nuvama
As of January 4, India's share in the MSCI Emerging Markets Index (EM), an index that captures large and mid-cap representation across 24 emerging market countries, increased to 17.1 per cent and the share is expected to reach 20 per cent by mid-2024, according to Nuvama.
As the global cut-off period for MSCI rejig approaches (February 24), the brokerage has reaffirmed its conviction picks for the MSCI Standard Index. It must be noted that the cut-off date for joining the index is January 18–January 31. The changes will be announced by MSCI on February 13 and released on February 29. Read more
Share Market Today LIVE | Jupiter Wagons jumps by over 3% after firm wins Rs 100 cr order from Indian Railways
Jupiter Wagons trade nearly four per cent higer at Rs 355.7 on BSE after the freight car manufacturer firm won a Rs 100 crore order from Indian Railways.
What is Jupiter Wagons' order?
The company has got the order worth Rs 100 crore from Indian Railways for the manufacturing and supply of 4 rakes of double decker automobile carrier wagons. Read more
Share Market Today LIVE | Godrej Consumer slips nearly 6% post-Q3 business update; CLSA maintains 'Sell'
Shares of Godrej Consumer Products Ltd (GCPL), a leading FMCG player, decline as much as 5.8 per cent to Rs 1,149 apiece on the BSE, after the company last week said it was expecting to deliver "mid-single-digit volume growth" on a consolidated basis for the December quarter (Q3 FY24). In the domestic business, GCPL's organic business delivered steady underlying volume growth of mid-single digits, while its inorganic business, Park Avenue and KamaSutra, reported double-digit volume growth.
"Growth was broad-based across both home care and personal care. Park Avenue and KamaSutra brands continue to perform well and are on track to achieve full-year ambition," the Godrej Group FMCG arm said in a quarterly update. Read more
Share Market Today LIVE | Sula Vineyards hits all-time high as CLSA upgrades the stock to buy, sees 56% upside
Shares of Sula Vineyards skyrocket as much as Rs 95.55, or 17.2 per cent, to clock an all-time high of Rs 649.95 apiece on the NSE in the early deals on Monday, January 8, after global brokerage CLSA upgraded the Nashik, Maharashtra-based winemaker to buy from outperform. The global brokerage has raised its target price to Rs 863 from Rs 571 earlier, translating to an upside potential of 56 per cent from the previous close. Read more
Marico Q3 update | Weaker rural demand dents sentiment; stock drops over 4%; here's what brokerages suggest
Shares of Marico, which makes personal care products such as Parachute coconut oil, slipped on Monday (January 8) as the FMCG major’s consolidated revenue for the quarter ended December 31, 2023 (Q3 FY24) declined in the low single digits on weaker rural demand, while its profit grew in the low double digits due to lower costs of key raw materials.
Marico shares decline as much as 4.6 per cent to hit the day's low of Rs 520.4 on the NSE. Read more
Image: Reuters/ Representational image Share Market Today LIVE | Should you buy or sell Titan, Marico, Godrej Consumer, other stocks today? Here is what brokerages suggest
As Dalal Street enters the January 8 session, brokerages have a dozen of stocks on their radar. Here's what JPMorgan, Morgan Stanley, Macquarie, Citi and CLSA make of stocks such as Titan, Marico, Godrej Consumers, Tata Steel, SBI, Bajaj Finance and Shree Cement
Titan
CLSA has a 'buy' call on Titan with a target price of Rs 4,494. JPMorgan has an 'overheight' rating on the stock with a target of Rs 3,950. Morgan Stanley has maintained an 'equal-weight' rating on Titan with a target of Rs 3,190
Marico
CLSA has a 'sell' rating on Marico with a target of Rs 524, while JPMorgan has a 'neutral' rating on the FMCG company with a target price of Rs 550. Morgan Stanley has an 'equal-weight' rating on the stock with a target of Rs 553.
GCPL
CLSA has a 'sell' call on Godrej Consumer Products Ltd (GCPL) with a target of Rs 936. JPMorgan and Morgan Stanley each have maintained an 'overweight' rating on Godrej Consumer with targets of Rs 1,300 and Rs 1,072, respectively. Nomura has a 'buy' call on GCPL shares with a target of Rs 1,240. Read more
Share Market Today LIVE | Titan shares clinch all time high after Q3 business update; brokerages mixed
After the company’s Q3 business update, foreign brokerages are mixed on the Tata Group’s watch-to-jewellery maker- Titan. Titan company came up with its business updated on January 5 after market hours. Nevertheless, in trade on Monday, the stock marks its new all time high of Rs 3784.25 in the opening trade, gaining 2 per cent over the previous close.
In the release, the company informed that all its businesses barring eyewear saw an year-on-year (YoY) growth, while as a whole it logged 22 per cent growth. The company’s omin channel jewellery brand-Caratlane, however, logged 31 per cent YoY growth. 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 21,600-21,650 levels and a strong buy zone at 21,500-21,550 levels on Monday, January 8. For the Nifty Bank, he expects support at 47,725-47,850 levels and a strong buy zone at 47,500-47,650 levels.
Read more on how Anil Singhvi views the Indian share market today and what he recommend
Share Market Today LIVE | Nifty near 21,750, Sensex up nearly 50 pts
Nifty 50
Source: NSESensex
Source: BSE
Currency update | Rupee rises 5 paise to 83.10 against US dollar in early trade
Share Market Today LIVE | Godrej Ind, Marico, Blue Dart, other stocks
Here are some stocks that will be in focus on Monday, January 8:
Godrej Industries:
The company signed a non-binding Memorandum of Understanding (MoU) with the Government of Gujarat. As part of the MoU, the company may plan to invest Rs 600 crore over the next four years on the significant expansion in Valia with employment of around 250.
Capri Global Capital:
The company's board will consider the issuance of Non-Convertible Debentures in a meeting on January 27, 2024.
Federal Bank:
The Reserve Bank of India (RBI) has asked the bank to submit two fresh names for MD, and CEO. The private sector lender had sought RBI’s approval to reappoint Shyam Srinivasan as MD, and CEO on October 6, 2023.
Jio Financial Services:
The company along with BlackRock have agreed to form a Joint Venture to enter India’s Asset Management Industry. Accordingly, the company and Blackrock made an application to the Securities and Exchange Board of India on October 19, 2023, seeking approval for Jio Financial Services Ltd and Blackrock Financial Management, Inc. to act as co-sponsors of a Mutual Fund.
RPSG Ventures:
A fire incident occurred at a job worker’s factory located at NH24, Uttar Pradesh. The job worker was appointed by Guiltfree Industries Limited, a subsidiary of RPSG Ventures Limited to manufacture its products. The loss/damage is covered by insurance. '
Blue Dart:
The board will consider financial results for Q3FY24 on January 24, 2024.
Q3 business updates:
Marico:
The company in its Q3 business update said that the company saw low single-digit domestic volume growth on a year-on-year (YoY) basis with a slight sequential improvement in our core portfolio. Read more
Share Market Today LIVE | GIFT Nifty futures indicate a lower start ahead on Dalal Street
GIFT Nifty futures — an early indicator of the Nifty 50 index — are down 27.85 points or 0.13 per cent at 21,766 ahead of the opening bell on Dalal Street.
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