Share Market HIGHLIGHTS: Nifty50 reclaims 21,600 as Dalal Street continues to rise for 2nd straight day
Share Market HIGHLIGHTS: Domestic equity benchmarks Nifty50 and Sensex closed higher for a second straight session on Wednesday. Catch all the action on Dalal Street, market commentary and analysis, the views of Zee Business Managing Editor Anil Singhvi and other experts, stocks to buy and trade recommendations only on Zeebiz.coms blog.
Share Market HIGHLIGHTS: Domestic equity benchmarks Nifty50 and Sensex continued to rise for a second straight session on Wednesday, January 10, led by buying interest in financial and oil & gas stocks though selling pressure in FMCG scrips limited the upside. Globally, equities held steady, with Japanese stocks touching a 34-year peak, ahead of a key inflation reading from the world's largest economy due on Thursday.
Catch all the highlights of the day 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 | HCL Tech, ICICI Bank, Tata Motors, Wipro top Sensex gainers; NTPC, PowerGrid top losers
Image: BSEIndia.com
Share Market Today | Broader indices Nifty Midcap 100, Nifty Midcap 100 end on a mixed note
While the Nifty Midcap ends 0.3 per cent higher, its smallcap counterpart declines 0.2 per cent for the day.
The Nifty 500, the broadest index on NSE, closes with a gain of 0.3 per cent.
Share Market Today | Nifty Media, Nifty Metal, Nifty Consumer Durables top gainers among NSE's sectoral indices; Nifty FMCG top laggard, down 0.4%
Index Jan 10 close Change (%) NIFTY MEDIA 2,470.65 3.47 NIFTY METAL 7,882.65 0.95 NIFTY CONSUMER DURABLES 31,520.00 0.66 NIFTY IT 34,834.35 0.5 NIFTY HEALTHCARE INDEX 10,985.40 0.41 NIFTY PRIVATE BANK 24,476.35 0.33 NIFTY PHARMA 17,401.90 0.32 NIFTY BANK 47,360.85 0.25 NIFTY AUTO 18,559.10 0.21 NIFTY FINANCIAL SERVICES 21,224.30 0.13 NIFTY OIL & GAS 9,731.65 0.01 NIFTY REALTY 865.8 -0.11 NIFTY PSU BANK 5,667.40 -0.26 NIFTY FMCG 56,348.95 -0.4 Closing Bell | Sensex up 271.5 pts, Nifty at 21,619 led by financial, oil & gas, metal shares
Both headline indices finish the day about one third of a percentage point stronger. The Sensex ends 271.5 points higher at 71,657.7 and the Nifty50 settles at 21,618.7, up 73.9 points from its previous close.
Nifty50
Image: NSEIndia.com, BSEIndia.com
Share Market Today LIVE | Puravankara shares hit 52-week high as Street cheers strong Q3 business update by Bengaluru-based property developer
Puravankara (PURVA) shares zoom on Wednesday after the Bengaluru-headquartered real estate development company said its sales bookings grew 56 per cent on a year-on-year basis to Rs 1,241 crore for the quarter ended December 2023, driven by strong volumes in the housing segment. The stock jumps by as much as Rs 22.8, or 10.3 per cent, to a 52-week high of Rs 243.9 apiece on BSE. Read more
Share Market Today LIVE | Tanla shares zoom; here is the latest trigger
Tanla Platforms (TANLA) shares jump on Wednesday after the Cloud communication provider said it had entered a commercial agreement with a bank in India for its digital platform, Wisely ATP. The stock gains by Rs 111, or 10.2 per cent, at the strongest level in intraday trade to Rs 1,198 apiece on BSE. Read more
Nifty Today LIVE | Infosys, NTPC, L&T among top drags in 50-scrip basket
Infosys, NTPC, L&T and Axis Bank are among the top drags in the Nifty baskets at this hour. On the contrary, ICICI Bank, RIL, HDFC Bank and HCL Tech are the top movers.
Here's a look at the heatmap in the 50-scrip universe by weight:
Source: NSE
Share Market Today LIVE | Goldman Sachs expects Nifty50 to top 23,500 in 2024; here is why
Goldman Sachs, a global investment banking, securities, and investment management firm, is bullish on the Indian stock market and has raised its target on Nifty50 for the calendar year 2024. The investment bank sees Nifty50 touching the 23,500 mark this year.
As per Zee Business research, the revision in the target price comes just two months after it set a target of 21,800. The new price target implies an upside potential of approximately more than 9 per cent for the index from the current levels. Read more
Share Market Today LIVE | Nifty slips below 21,500, Sensex trades over 150 pts lower
Share Market Today LIVE | Seamec hits a 52-week high after firm inks deal with Egyptian firm to bring 'Sea Diamond' to Mumbai
Seamec shares hit a fresh 52-week high of Rs 1,165 on BSE after the diving support vessel firm inked a deal with M/s. Ships & Boats Oil Services to bring Sea Diamond from Alexandria to Mumbai. The stock of the company trades up by 4.2 per cent, or Rs 47, at Rs 1,165 on BSE.
Why Seamec is in focus?
Seamec has signed a deal with M/s. Ships & Boats Oil Services to bring Sea Diamond from Alexandria, Egypt, to Mumbai anchorage. Read more
Pick of the Day | Cipla, IDFC First Bank among other analysts' recommendation
In conversation with Zee Business Managing Editor Anil Singhvi, market experts Himanshu Gupta, Vishvesh Chauhan, Ambareesh Baliga Rakesh Bansal, Kunal Saraogi and Sumeet Bagadia share their top stock recommendations in this special segment, Pick of the Day. On the analysts' 'buy' list are stocks such as Cipla, Granules India, Radico Khaitan and Star Health. Read more
Share Market Today LIVE | What brokerages make of Bharti Airtel, GCPL, SBI Life, HDFC Life, Persistent Systems, ICICI Lombard other stocks today
Here's what Goldman Sachs, BofA, CLSA, Jefferies and HSBC make of stocks such as Bharti Airtel, Bajaj Finserv, Cyient, Persistent Systems, SBI Life, HDFC Life, Godrej Consumer Products Limited (GCPL) and ICICI Lombard:
SBI Life, HDFC Life
Two brokerages, HSBC and Goldman Sachs have a call on SBI Life with a target of Rs 1,669 and Rs 1,750, respectively.
HDFC Life
Both HSBC and Goldman Sachs have a 'buy' call on HDFC Life with the same target of Rs 800.
ICICI Predentiual
HSBC has a 'buy' call on ICICI Prudential Life Insurance with a target of Rs 660. Goldman Sachs has a 'neutral' rating on the stock with a target of Rs 570.
ICICI Lombard
HSBC has a 'buy' call on ICICI Lombard General Insurance with a target of Rs 1,631. Golman Sachs has a 'neutral' rating on the stock with a target of Rs 1,475.
Bajaj Finserv
Goldman Sachs has recommended selling the shares of Bajaj Finserv with a target price of Rs 1,480.
Bharti Airtel
BofA has a 'neutral' rating on Bharti Airtel with a target of Rs 1,145.
Indus Towers
BofA has a 'buy' call on Indus Towers with a target of Rs 270. Read more
Share Market Today LIVE | Polycab India shares jump after cable and wire manufacturer denies tax evasion reports
Polycab India shares trade nearly two per cent higher at Rs 4,958.2 on BSE after the cables and wires manufacturer denied reports that suggested that the firm was involved in tax evasion.
In a statement post-market hours on Tuesday, Polycab India said it "denies any rumours of tax evasion by the Company circulating in media". It also said it had not received any information from the Income Tax Department regarding the results of the search. Read more
Share Market Today LIVE | Manappuram Finance stock under pressure as Sebi temporarily suspends arm Asirvad Micro Finance's IPO
Manappuram Finance's shares trade 5.32 per cent lower at Rs 167.15 on BSE after capital markets regulator Sebi temporarily suspended the initial public offering (IPO) of its arm, Asirvad Micro Finance. The size of the IPO proposed was Rs 1,500 crore.The market capitalisation of the company stands at Rs 14,165.09 crore. Read more
Share Market Today LIVE | Tata Power shares rise in trade, hover around 52-week high—here's why
Tata Power shares soar on Wednesday, January 10, a day after the company’s subsidiary, Tata Power Renewable Energy Limited (TPREL), signed two Memorandums of Understanding (MoUs) with the government of Tamil Nadu to support the development of the state's renewable energy landscape and accelerate India's clean energy transition.
The stock of the Mumbai-based electric utility and electricity generation company gain as much as 2.5 per cent to hit the day's high at Rs 348.75, coming within Rs 0.95 of its 52-week high of Rs 349.7 touched on January 5 on the NSE.The counter trade 1.09 per cent lower at Rs 343.9 on NSE, pausing the 2-day decline. Read more
Share Market Today LIVE | UBS double-downgrades IGL stock to 'Sell' as it sees volume de-growth from FY23–26
Shares of Indraprastha Gas (IGL), a city gas distributor, falls over 2 per cent after foreign brokerage UBS raised its alarm on the stock by double-downgrading it to ‘sell’ from the earlier ‘buy’ call. Besides, the brokerage has slashed the target price on the counter to Rs 400 from the earlier Rs 630. The brokerage estimates volume de-growth from FY23–26, with growth anticipated at 6 per cent CAGR. The de-growth is foreseen owing to the spur in electric vehicles. IGL shares trade 3.26 per cent lower at Rs 415 on NSE. Read more
Share Market Today LIVE | Jefferies lists GCPL as its top pick; firm has lowest EBIT exposure to foreign markets
Despite the weak rural growth, foreign brokerage Jefferies has maintained its 'buy' stance on the consumer company Godrej Consumer Products (GCPL). The brokerage has set the target at Rs 1,400, implying a potential upside of 20 per cent from the previous close.
The brokerage is of the view that the CEO Sudhir Sitapati-led turnaround has taken longer than expected; nevertheless, it sees 2024 as likely to be a year of decisive turnaround. Jefferies added that it was looking forward to the growth or margin trend in RCCL, which is its recent acquisition in the space previously led by the Raymond Group. The counter trades at Rs 1,150.5, down by over one per cent on NSE. Read more
Share Market Today LIVE | Vedanta slips nearly 3% after Moody's downgrades its parent company's ratings
Vedanta shares slip after brokerage Moody's downgraded the rating of its parent company, Vedanta Resources. The stock trades lower by 2.78 per cent, or Rs 7.25, at Rs 253.2 on BSE. Moody's Investors Service said on Tuesday that it had downgraded its rating on the senior unsecured bonds issued by Vedanta Resources to Ca from Caa3. 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 21,425-21,500 levels and a strong buy zone at 21,350-21,400 levels on Wednesday, January 10. For the Nifty Bank, he expects support at 46,925-47,150 levels and a strong base at 46,750-46,850 levels.
Read more on how Anil Singhvi views the Indian share market today and what he recommends
Share Market Today LIVE | Nifty, Sensex open flat
Nifty 50
Source: NSESensex
Source: BSE
Currency Update | Rupee falls 1 paisa to 83.14 against US dollar in early trade
Share Market Today LIVE | Cochin Shipyard to trade ex-stock split, Grasim Industries to go ex-rights today
Cochin Shipyard will trade ex-stock split Grasim Industries will go ex-rights on Wednesday, January 10.
Cochin Shipyard stock split
Earlier, the state-run shipbuilder’s board gave nod to a proposal to split its stock from a face value of Rs 10 to a face value of Rs 5, translating into a share split ratio of 2:1 ratio.
Grasim rights issue
Aditya Birla group company Grasim Industries announced a plan to issue rights with a record date of January 10. The company, whose board approved fund-raising up to Rs 4,000 crore through rights, plans to issue up to 2.2 crore equity shares its promoter group, according to a regulatory filing on January 4. Read more
Stocks to Watch | Tata Power, Colgate, IREDA, TVS Motor, other stocks
Here are some stocks that will be in focus on Wednesday, January 10:
KIOCL: The company temporarily suspended operations at the Mangalore-based pellet plant unit with effect from January 9, 2024. The operations were suspended due to the non-availability of iron ore fines.
Colgate-Palmolive: The company received a Goods and Services Tax (GST) notice from Himachal Pradesh, Tamil Nadu, and Delhi GST authorities.
Shyam Metalics and Energy: The company raised Rs 1,385 crore through qualified institutional placement (QIP).
Tata Power: The company’s subsidiary, Tata Power Renewable Energy Limited, signed two Memorandums of Understanding (MoUs) with the government of Tamil Nadu to support the development of the state's renewable energy landscape and accelerate India's clean energy transition.
IREDA: The board will consider Q3 results on January 20, 2024, in a meeting. Read more
Share Market Today LIVE | GIFT Nifty futures indicate weaker start ahead on Dalal Street
GIFT Nifty futures — an early indicator of the Nifty 50 index — are down 38.85 points or 0.18 per cent at 21,578 ahead of the opening bell on Dalal Street.
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