Share Market HIGHLIGHTS: Sensex ends 1,053 pts lower, Nifty50 slumps to 21,242 dragged by financial, oil & gas, FMCG stocks
Share Market HIGHLIGHTS: Domestic equity benchmarks Nifty 50 and Sensex extended losses to a second straight session in a volatile session on Tuesday, January 23. Catch all the action on Dalal Street during the course of the day, 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 amid volatile trade on Tuesday, as financial, oil & gas, FMCG and metal shares. NSE's India VIX index, widely known in market parlance as the volatility index, leaps 7.6 per cent to 14.9.
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Share Market Today: Overall market breadth remains extremely negative in the second half of the day
At the end of the session, overall market breadth on BSE favours the bears in a big way, with an advance-decline ratio of 3:10 as only 940 stocks close higher against 2,988 laggards.
Share Market Today: Broader indices Nifty Midcap 100, Nifty Smallcap 100 indices fall over 3%
Index Jan 23 close Change (%) NIFTY 500 19,206.45 -2.02 NIFTY MIDCAP 50 13,049.05 -3.15 NIFTY MIDCAP 100 46,569.60 -3.11 The Nifty 500, the broadest index on NSE, finishes two per cent lower, its worst slide in over a month.
Share Market Today: IndusInd Bank, Coal India, SBI Life, ONGC, Adani Ports worst hit among 40 Nifty50 losers; Cipla, Sun Pharma, Bharti Airtel, ICICI Bank, Dr Reddy's top gainers
Here are some of the top gainers and losers in the 50-scrip blue-chip basket:
Stock Jan 23 close Change (%) CIPLA 1,407.95 6.97 SUNPHARMA 1,379.75 4.04 BHARTIARTL 1,157.10 2.97 ICICIBANK 1,027.90 1.9 DRREDDY 5,682.00 0.83 HEROMOTOCO 4,432.85 0.71 APOLLOHOSP 6,133.65 0.18 BAJAJ-AUTO 7,105.15 0.14 LTIM 5,659.00 0.04 BAJAJFINSV 1,581.10 0.01 HINDALCO 541.3 -3.52 HDFCLIFE 585.6 -3.68 HINDUNILVR 2,373.50 -3.86 BPCL 464.15 -3.92 SBIN 606 -4.02 ADANIPORTS 1,142.00 -4.27 ONGC 231 -4.57 SBILIFE 1,375.00 -4.66 COALINDIA 376.55 -5.58 INDUSINDBK 1,440.45 -6.18 Share Market Today: Nifty Healthcare top gainer among NSE's sectoral indices, up 1.8%
Index Jan 23 close Change (%) NIFTY MEDIA 2,067.30 -12.87 NIFTY REALTY 816.15 -5.31 NIFTY PSU BANK 5,806.85 -4.1 NIFTY OIL & GAS 10,013.15 -3.47 NIFTY METAL 7,486.85 -3.43 NIFTY CONSUMER DURABLES 30,911.20 -2.29 NIFTY BANK 45,015.05 -2.26 NIFTY PRIVATE BANK 23,167.60 -2.21 NIFTY FINANCIAL SERVICES 20,137.05 -1.97 NIFTY FMCG 54,973.90 -1.79 NIFTY AUTO 18,361.00 -1.56 NIFTY IT 36,521.35 -0.48 NIFTY PHARMA 17,520.30 1.66 NIFTY HEALTHCARE INDEX 11,146.90 1.81 Closing Bell | Sensex sheds 1,053 pts, Nifty below 21,250 as bears remain in charge for 2nd straight session
Share Market Today LIVE | India overtakes Hong Kong as fourth largest stock market; here is what experts say
The Indian stock market, as per reports, has pipped Hong Kong as the fourth largest stock market globally. The data compiled by Bloomberg revealed that the total value of shares listed on Indian bourses scaled to USD 4.33 lakh crore in the previous session as against USD 4.29 trillion for Hong Kong.
Among the top equities markets globally, the US markets hold the top spot, followed by China and Japan. India’s equity markets m-cap breached USD 4 lakh crore levels for the first time in December last year.
“Cumulatively, the past 12 months have been stellar for investors who parked their money in Indian stocks. Though there has been some turbulence, the calendar year 2023 gave handsome monetary dividends to stock market investors. In 2023 itself, Sensex and Nifty gained 17-18 per cent, on a cumulative basis,” pointed out an ANI report. Read more
Share Market Today LIVE | Sensex tanks 1,000 pts, Nifty near 21,250 dragged by financial, oil & gas stocks
Share Market Today LIVE | Oberoi Realty posts weak results for Q3; stock declines
Shares of Oberoi Realty, a Mumbai-based leading real estate firm in the country, decline over nine per cent on NSE to trade at Rs 1,366.1. The selling pressure comes after the company posted weak Q3FY24 numbers.
On Monday, the Mumbai-based realty company posted a 49 per cent decline in consolidated net profit to Rs 360.15 crore for the December quarter. Its net profit stood at Rs 702.57 crore in the year-ago period. Read more
Share Market Today LIVE | IDFC First Bank slides over 7% after good Q3 results, poor guidance; brokerage cuts target price
IDFC First Bank stock slides nearly seven per cent on BSE at Rs 81.7 on Tuesday (January 23, 2024) after the lender reported good results but a weak guidance in the December-quarter results.
IDFC First Bank Q3 results
The results of the company are good, but the guidance for the next five years is soft. After the results, brokerage Morgan Stanley has cut the target.
The company's net interest income soared by 30.5 per cent in the December quarter while its profit after tax was higher by 18.4 per cent in the same duration. Its provisions saw a rise of 45.4 per cent Year-on-Year (YoY) and 23.9 per cent Quarter-on-Quarter (QoQ). Read more
Share Market Today LIVE | United Spirits trades flat ahead of Q3 result announcement; here is what to expect
Shares of United Spirits (USL Ltd), the subsidiary of Diageo, trade over 0.01 per cent higher at Rs 1,108.9 apiece on the NSE on Tuesday, January 23, ahead of its Q3 FY24 (October-December) result announcement, due later in the day. The company is expected to report a good set of numbers for the quarter under review.
Zee Business Research analysts expect the liquor company to report standalone revenue of Rs 2,997 crore, up 7.7 per cent year-on-year (YoY) against Rs 2,781 crore logged in the year-ago period.
EBITDA, or earnings before interest, taxes, depreciation, and amortisation, is expected to jump 19.2 per cent YoY to Rs 439 crore. The company had posted an EBITDA of Rs 368 crore in Q3 FY23. Read more
Share Market Today LIVE | Cipla posts better-than-estimated Q3 results; stock hits all-time high
Cipla shares clock an all-time high of Rs 1,409 apiece on Tuesday (January 23). The stock draws buyers' interest after the pharmaceutical company posted better-than-estimated Q3FY24 results.
Shares of drug major Cipla trade 6.77 per cent or Rs 89.1, higher on the NSE at Rs 1,405.35 apiece. The market capitalisation of the company at around the same time stood at Rs 1,13,46,200.62 lakh. On January 22, Cipla announced its third-quarter results that ended December 31, 2023, where the company posted a 32 per cent increase in consolidated net profit at Rs 1,056 crore for the period, on the back of robust sales across geographies. Read more
Share Market Today LIVE | Should you buy Colgate-Palmolive, Persistent Systems, ICICI Bank, L&T, other stocks today? Here's what brokerages say
Here's what Goldman Sachs, CLSA, Jefferies, HSBC, Morgan Stanley, JPMorgan, Macquarie, Citi and Nomura make of stocks such as ICICI Bank, Persistent Systems and Colgate
Palmolive share target price
JPMorgan has an 'overweight' rating on the stock with a target of Rs 1,180, while Macquarie has an 'outperform' rating with a target of Rs 1,190
Coforge share target price
- Jefferies, Nomura and HSBC each have a 'buy' call on Coforge with targets of Rs 7,400, Rs 7,300 and Rs 6,930, respectively. Citi, on other hand, has a 'sell' rating on Coforge with a target of Rs 4,910.
- Morgan Stanley has an 'overweight' rating on Coforge with a target of Rs 7,200.
- Macquarie has an 'outperform' rating on Coforge with a target of Rs 6,410.
Persistent Systems share target price
- HSBC has a 'buy' call on Persistent Systems with a target of Rs 9,875, while Citi has a 'sell' call on the stock with a target of Rs 5,470.
- JPMorgan and Nomura each have a 'neutral' rating on Persistent Systems with targets of Rs 7,200 and Rs 7,600, respectively.
IDFC First Bank share target price
Morgan Stanley has an 'equal-weight' rating on IDFC First Bank with a target of Rs 85.
Colgate-Palmolive share target price
Goldman Sachs, Citi and CLSA each have a 'sell' rating on Colgate-Palmolive for targets of Rs 1,900, Rs 2,000 and Rs 2,001, respectively. On the other hand, HSBC and Jefferies each has a 'buy' call on the stock, with targets of Rs 2,900 and Rs 2,930, respectively. Read more
Share Market Today LIVE: Sensex slumps 1,290 pts from day's high, Nifty50 sinks below 21,400 dragged by financial, oil & gas stocks
The Sensex plunges to as low as 70,749.2, a sharp fall from its intraday high of 72,039.2, while the Nifty slides to as low as 21,356.5, having risen to as high as 21,750.3 earlier in the day, amid heavy selling pressure in stocks such as HDFC Bank, Reliance, Axis Bank, SBI and HUL.
Image: Niftyindices.com
Share Market Today LIVE | Can Fin Homes shares slide on higher provisioning, muted disbursements; what should investors do?
Can Fin Homes shares face selling pressure on Tuesday, extending losses to a second straight session, after the NBFC reported a mixed bag of quarterly financial results. The NBFC stock falls by as much as Rs 27.4, or 3.6 per cent, to Rs 741.5 apiece on BSE, after falling 3.1 per cent in the previous session.
During market hours on Saturday, Can Fin Homes reported a year-on-year increase of 32.1 per cent in net profit to Rs 200.1 crore for the October-December period. Its income from operations grew to Rs 901.9 crore for the fiscal third quarter, from Rs 709.7 crore a year ago, according to a regulatory filing.
The company’s net interest margin (NIM), a key measure of profitability, improved by 12 basis points sequentially to a seven-quarter high of 3.92 per cent. Read more
Share Market Today LIVE: Spandana Sphoorty Financial shares nosedive after Q3 results
Spandana Sphoorthy Financial (SPANDANA) shares suffer sharp losses after the company reports a deterioration in asset quality and an 80-basis-point drop in its net interest margin (NIM) for the October-December period. The stock falls by as much as Rs 109.3, or 9.5 per cent, to Rs 1,042.9 apiece on BSE.
Image: BSEIndia.com
In a regulatory filing on Monday, the company reported a 70.7 per cent year-on-year increase in standalone net profit to Rs 118.3 crore with 42.1 per cent growth in net interest income to Rs 291.4 crore for the October-December period.
Its gross non-performing assets, or gross bad loans, however, increased by 21 basis points sequentially to 1.61 per cent, while net non-performing assets increased to 0.48 per cent from 0.42 per cent.
The company's gross collection efficiency slipped to 99.9 per cent from 100.3 per cent a year ago.
Stocks to Buy | BPCL, Coal India among analysts' top picks
In conversation with Zee Business Managing Editor Anil Singhvi, market experts Himanshu Gupta, Rakesh Bansal, Kunal Saraogi and Sumeet Bagadia share their top stock recommendations in this special segment, Pick of the Week.
On the top analysts' 'buy' list are stocks such as Coal India Ltd (CIL), Bharat Petroleum Corporation Ltd (BPCL) and Colgate-Palmolive (India). Read more
Share Market Today LIVE: Positive on Axis Bank shares, says Sandeep Wagle
Sandeep Wagle of Sandeep Wagle Advisory Services believes one can expect a strong upmove in Axis Bank shares once they take out the Rs 1,145-1,150 band on the upside.
The lender is slated to report its financial results later in the day.
One may wait until the earnings announcement and expect an upmove to the tune of Rs 50-70 after the immediate resistance band, he adds.
Share Market Today LIVE: Buy Rajratan Global Wire shares, says Sharad Avasthi
Sharad Avasthi of SMIFS likes Rajratan Global Wire shares from a long-term perspective in the midcap space.
He has set his target for the stock at Rs 875 over a horizon of 9-12 months.
Share Market Today LIVE: Buy Gujarat Pipavav Ports Ltd (GPPL) shares, says Sumeet Bagadia
Sumeet Bagadia of Choice Broking has a 'buy' call on Gujarat Pipavav shares.
Bagadia has placed his targets at Rs 175 and Rs 180 with a stop loss at Rs 161.
Traders' Diary | Buy, sell or hold strategy on ICICI Bank, PNB, SBI Life, Persistent Systems, Tata Steel, over a dozen other stocks today
Here's the complete list of investment and trading ideas for the day:
Kushal Gupta
- Buy Elecon Engineering shares in the cash segment for a target of Rs 1,110 with a stop loss at Rs 1,070
- Buy Persistent Systems futures for a target of Rs 8,150 with a stop loss at Rs 7,860
- Buy the Rs 1,010 call option of ICICI Bank at Rs 20 for a target of Rs 30 with a stop loss at Rs 10
- Technical pick: Buy Concor shares for a target price of Rs 900 with a stop loss at Rs 864
- Fundamental pick: Buy Tata Power shares for a target of Rs 355 with a stop loss at Rs 340
- Investment idea: Buy Tata Communications shares for a one-year target of Rs 2,000
- News-based pick: Buy Kewal Kiran Clothing shares for a target of Rs 810 with a stop loss at Rs 775. Read more
Share Market Today LIVE | Borosil Renewables hits fresh 52-week high; S&W Renewable, IREDA and Waaree Renewable locked in 5% upper circuit
Solar panel manufacturers and power companies such as Tata Power, Borosil Renewables, IREDA, Waaree Renewable Technologies, and Sterling and Wilson Renewable Energy is in Buzz in the trade on Tuesday, January 23, with gains of up to 18.56 per cent. The stocks are in heavy demand after PM Narendra Modi on Monday announced the 'Pradhan Mantri Suryodaya Yojana'.
Borosil Renewables are up 14 per cent, Tata Power was up 3 per cent, while Sterling and Wilson Renewable Energy, IREDA, and Waaree Renewable are locked in the 5 per cent upper circuit each. Read more
Currency Update | Rupee falls 4 paise to 83.11 against US dollar in early trade
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 21,525-21,575 levels and a strong buy zone at 21,400-21,465 levels on Tuesday, January 23. For the Nifty Bank, he expects support to come in at 45,650-45,725 levels and a strong buy zone at 45,425-45,550 levels.
Read more on how Anil Singhvi views the Indian share market today and what he recommends
Share Market Today LIVE | Sensex jumps over 550 pts, Nifty near 21,750 in opening deals
Nifty 50
Source: NSESensex
Source: BSE
Stocks to Watch | IDFC First Bank, Medi Assist Healthcare, Coforge, Persistent Systems
Here are some stocks that will be in focus on Tuesday, January 23:
Shree Cement: The company has started commercial production at the Nawalgarh cement plant situated at Village Gothra in Nawalgarh Tehsil of Rajasthan.
IDFC First Bank: The private sector lender reported a net profit of Rs 715.68 crore for the third quarter of the financial year (FY) 2023-24, which is 18 per cent more than the Rs 605 crore recorded in Q3 FY23. The bank's gross non-performing asset (NPA), which is the overall asset quality, stood at 2.04 per cent, down from 2.96 per cent recorded in Q3 FY23. The bank's net NPA for the quarter stood at 0.68 per cent, improving from 1.03 per cent on a year-on-year basis.
Persistent Systems: The mid-tier IT services firm reported a 20.2 per cent rise in its net profit to Rs 286.1 crore year-on-year for the quarter ended December 31, driven by a strong order book. On a quarter-on-quarter (QoQ) basis, the net profit jumped 8.7 per cent. The consolidated revenue for the third quarter stood at Rs 2,498.2 crore, a rise of 15.2 per cent from the same quarter of the previous year. Sequentially, revenue was up 3.6 per cent, the company said after market hours on Saturday.
J&K Bank: The private sector bank reported a 35 per cent rise in its net profit to Rs 421 crore in the third quarter ended on December 2023, on the back of a decline in bad loans and an improvement in core income against Rs 311 crore in the October-December quarter of 2022. The total income of the bank increased to Rs 3,063 crore in the quarter compared to Rs 2,682 crore in the December quarter of the previous fiscal.
ICICI Bank: The lender posted results better than estimates with commentary being good on all aspects except Net interest margin or NIM. Net interest income increased 13.4 per cent YoY, while profit soared year-on-year (YoY) to Rs 10,271.5 crore. CLSA has maintained 'buy' on ICICI Bank with a raised target of Rs 1300 per share.
Cipla: The pharma major posted better Q3 results on all parameters. The company registered highest ever sales in the US business. Profit at the company also soared 32 per cent YoY. Read more
Ex-dividend stocks this week | Wipro, Siemens and PCBL among seven stocks to trade ex-date
As many as seven stocks will trade ex-dividend this week, according to the NSE website. The list includes Wipro, MAS Financial, Ksolves India, and four other stocks.
Ex-dividend stocks on January 22
MAS Financial dividend
MAS Financial Services has announced an interim dividend of Rs 3 per equity share with a face value of Rs 10. The financial services company has announced January 22 as the record date.
Ex-dividend stocks on January 23
Angel One dividend 2024 record date
Angel One has announced an interim dividend of Rs 12.7 per equity share with a face value of Rs 10. January 23 has been set as the record date.
Ex-dividend stocks on January 24
Wipro dividend 2024 record date
Wipro has announced an interim dividend of Re 1 per equity share with a face value of Rs 2. The IT major has fixed January 24 as the record date.
Ex-dividend stocks on January 25
Mastek dividend ex date
Mastek has announced an interim dividend of Rs 7 per equity share with a face value of Rs 5. The company's board has fixed January 27 as the record date. Read more
Share Market Today LIVE | GIFT Nifty futures indicate a higher start ahead on Dalal Street
GIFT Nifty futures — an early indicator of the Nifty 50 index — are up 183.4 points or 0.85 per cent at 21,787.5 ahead of the opening bell on Dalal Street.
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