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Business News/ Markets / Live Blog/  Market highlights: Sensex sheds 800 points, Nifty around 21,500 at close; PSU banks shine
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Market highlights: Sensex sheds 800 points, Nifty around 21,500 at close; PSU banks shine

Sensex Today | Share Market Live Updates: At close, the Sensex was down 801.67 points or 1.11% at 71,139.90, and the Nifty was down 215.50 points or 0.99% at 21,522.10.

Sensex Today | Share Market Live Updates: China's 10-year government bond yield dropped to the lowest in more than two decades. Photo: Adeel Halim/BloombergPremium
Sensex Today | Share Market Live Updates: China's 10-year government bond yield dropped to the lowest in more than two decades. Photo: Adeel Halim/Bloomberg

Sensex Today | Share Market Live Updates: Benchmark indices ended around 1% lower in a volatile session on Tuesday. At close, the Sensex was down 801.67 points or 1.11% at 71,139.90, and the Nifty was down 215.50 points or 0.99% at 21,522.10.

Top losers on the Nifty included Bajaj Finance, Titan Company, UltraTech Cement, NTPC and Reliance Industries, while gainers included Tata Motors, BPCL, Grasim Industries, Eicher Motors and SBI.

Among indices except Realty and PSU Bank ended in the red, with capital goods, FMCG, pharma and power down 0.5-1%.

The BSE Midcap index shed 0.5% and Smallcap index ended flat.

China stocks also dropped on Tuesday despite regulators' measures to boost market confidence, as sentiment remained fragile after the liquidation of property giant China Evergrande gave a fresh blow to Beijing's shaky real estate market.

China's 10-year government bond yield dropped to the lowest in more than two decades as investors still expect more policy easing to defend equity markets after Beijing announced a cut to bank reserves last week.

Japan's Nikkei share average ended higher, as chip-related shares tracked overnight gains on Wall Street, but caution ahead of the Federal Reserve's decision limited the rise.

US stocks advanced on Monday as market participants looked ahead to this week's slew of megacap earnings, economic data and the Fed's monetary policy meeting. The S&P 500 notched yet another record closing high.

The dollar was little changed at 148.06 yen on Monday, while the euro was flat at $1.08465 and sterling was steady at $1.27055.

Brent crude futures climbed 83 cents to $84.38 a barrel and US West Texas Intermediate crude rose 78 cents to $78.79 a barrel.

30 Jan 2024, 03:44:29 PM IST

Sensex Today Live: Rupee closes flat against dollar

The rupee ended flat at 83.11 per US dollar from the previous close of 83.13.

30 Jan 2024, 03:37:53 PM IST

Sensex Today Live: Budget expectations from Ashwini Shami, smallcase Manager, EVP & portfolio manager, OmniScience Capital

“We believe spending on defence will continue. India is looking to become an exporting hub for defence. We already have attachés from more than 80 countries. It has become a significant part of the economy and the market over the last five years inspiring tremendous excitement. 

“Overall, expecting the Amrit Kaal theme to continue from the budget - it  will cater to the masses. Continued focus on capital expenditure is expected, in addition to the other focus areas that the government had maintained last year. This will be done while maintaining the fiscal deficit. No big announcement expected for the start-ups ecosystem, but the government will definitely be doing right by start-ups in the longer horizon. The government has done well in building the start-up ecosystem with the introduction of building blocks for start-ups; Aadhar and UPI. 

“As for the markets, we foresee no Immediate reaction with the budget announcement. The announcement comes soon after the Fed announcement on the 31st, hence the market reaction for the next few weeks will be from a combination of the budget and the Fed announcement."

30 Jan 2024, 03:34:47 PM IST

Sensex Today Live: Indices close in the red

At close, the Sensex was down 801.67 points or 1.11% at 71,139.90, and the Nifty was down 215.50 points or 0.99% at 21,522.10.

30 Jan 2024, 03:24:44 PM IST

Sensex Today Live: Colin Shah, MD, Kama Jewelry, on the need to strengthen SEZs

“To be vocal for local, facilitate ‘Make in India’ and promote ease of doing business, the FinMin must look at amending the SEZ Act so that SEZs could be better integrated with the domestic market. The budget should look at permitting ‘reverse job-work’, which allows SEZs to sell in the domestic market, where all duties relinquished on raw materials could be paid back. 

"The move would prevent companies in these zones from being disadvantaged due to a lack of access to the entire market. It will allow them to sell domestically, also offering a waiver on all duties on raw materials.

"The move will also lead to further strengthening the SEZs of India, which have emerged as major export hubs in the country. However, in recent times they have started losing their value due to the imposition of minimum alternate tax and the introduction of a sunset clause to end fiscal incentives. This has resulted in many SEZs lying vacant, hurting the economic growth. The policy will put SEZs on an equal footing with non-SEZ units that enjoy the benefits of zero or reduced import duties through free trade agreements."

30 Jan 2024, 03:17:18 PM IST

Sensex Today Live: Gillette net profit surges 40% to ₹103.90 crore

Gillette posted a net profit of 103.90 crore for the December quarter, up nearly 40% from 74.50 crore a year ago. Revenue grew a mere 3.4% on-year to 639.50 crore but operational performance improved as Ebitda margin expanded to 24.4% from 20.4% a year ago.

30 Jan 2024, 03:12:30 PM IST

Sensex Today Live: HSBC on Bajaj Finance

-Buy call, target 8,900 a share

-Q3 earnings missed estimates owing to lower fees and higher credit costs

-Cut EPS estimates by 3-5% for FY24-26 to factor in lower loan growth and lower fees

-MD Rajeev Jain clarified he will continue to actively engaged in shaping strategy for BAF

30 Jan 2024, 03:10:03 PM IST

Sensex Today Live: BEL bags order worth ₹847 crore From CBIC

BEL has bagged an order worth 847 crore from the Central Board of Indirect Taxes and Customs (CBIC), Ministry of Finance.

30 Jan 2024, 02:49:36 PM IST

Sensex Today Live: Adani Total Gas net profit rises 17% in Q3

Adani Total Gas reported an 17.4% increase in consolidated net profit at 176.30 crore for the December quarter from 150.19 crore a year ago. Total income came in at 1,256.42 crore, up 5.3%.

30 Jan 2024, 02:47:57 PM IST

Sensex Today Live: Bank stocks highly sensitive to interest-rate changes, forecasts in budget, says Vinit Bolinjkar of Ventura Securities

“Bank stocks exhibit high sensitivity to interest rate changes and economic forecasts announced in the budget. Allocations for infrastructure projects can significantly impact construction and related sectors. Measures related to subsidies, taxes, and rural development can influence FMCG and retail stocks," Vinit Bolinjkar, head of research, Ventura Securities, told Mint in an interview.

“Adhere to your risk management strategies and refrain from excessive trading in the volatile budget-day environment. Stay well-informed with pre-budget expectations and stay updated with live news throughout the day," he advised retail investors. Read more.

30 Jan 2024, 02:33:57 PM IST

Sensex Today Live: PSU Banks, Realty shine amid gloom

The Nifty PSU Bank index is currently up 1.28% while the Nifty Realty index is up 1.20%. 

Source: NSE
View Full Image
Source: NSE
30 Jan 2024, 02:27:44 PM IST

Sensex Today Live: What the crypto sector expects from Budget 2024

With less than a week left for the presentation of the interim budget by Union Finance Minister Nirmala Sitharaman, people from India’s cryptocurrency sector are hoping for the introduction of a well-defined legal framework and the regularisation of the tax structure to address taxation complexities.

The digital asset industry anticipates a much more nuanced approach to outlining a definition of Virtual Digital Assets (VDAs). In addition to this, policy implementation to boost innovation and research and development is also the key to a stronger crypto industry in the country. Read more.

30 Jan 2024, 02:08:03 PM IST

Sensex Today Live:  Tata Motors stock up 4.5%, hits record high

Tata Motors’s stock is up 4.54% at 879.20, setting a new all-time high. With this, Tata Motors has surpassed Maruti Suzuki as the most valuable automobile company in India.

30 Jan 2024, 02:03:53 PM IST

Sensex Today Live: 2 pm market update

At 2 pm the Sensex was down 377.85 points or 0.53% at 71,563.72, and the Nifty was down 73.10 points or 0.34% at 21,664.50.

30 Jan 2024, 01:56:51 PM IST

Sensex Today Live: Apar Industries Q3 results

Net profit was up 28.1% at 217.6 crore from 169.9 crore a year ago, and revenue up 1.9% at 4,013 crore from 3,938.9 crore a year ago.

30 Jan 2024, 01:45:55 PM IST

Sensex Today Live: BFSI remains a sore point for IT companies in Q3

For Indian IT companies, persistent demand uncertainty and lack of revenue visibility have kept revenue performance of the key banking, financial services, and insurance (BFSI) vertical under pressure lately. The impact on revenue aggravated in the December quarter (Q3FY24). Historically, Q3 has been a seasonally weak quarter due to furloughs. Read more.

30 Jan 2024, 01:31:45 PM IST

Sensex Today Live: China's 10-year government bond yields drop to lowest since June 2002

China's 10-year government bond yield dropped to the lowest in more than two decades as investors still expect more policy easing to defend equity markets after China announced a cut to bank reserves last week, Reuters reported.

Yields on China's 10-year government bonds CN230026=CN10YT=RR dropped below 2.47%, the lowest since June 2002.

China 10-year treasury futures for March delivery CFTC1 rose to the highest since April 2020.

Yields on China's 30-year government bonds CN30YT=RRCN230009= dropped to a record low of 2.71%.

30 Jan 2024, 01:21:29 PM IST

Sensex Today Live: Bajaj Finserv Q3 results

Consolidated net profit is up 21% at 2,158 crore from 1,782 crore a year ago. Revenue is up 34% at 29,038 crore from 21,755 crore a year ago.

30 Jan 2024, 01:19:47 PM IST

Sensex Today Live: Mahindra Logistics posts ₹16.4 crore loss in Q3

Mahindra Logistics posted a consolidated net loss of 16.4 crore for the December quarter, against a profit at 1.67 crore a year ago, thanks to weak operating numbers. Revenue from operations grew 5% to 1,397.2 crore.

30 Jan 2024, 01:04:44 PM IST

Sensex Today Live: 3 pm market update

At 1 pm the Sensex was down 264.25 points or 0.37% at 71,677.32, and the Nifty was down 39.50 points or 0.18% at 21,698.10.

30 Jan 2024, 01:04:03 PM IST

Sensex Today Live: LIC shares jump 4%, cross issue price

Shares of LIC have crossed their issue price and are up 3.94% at 951.70.

30 Jan 2024, 12:50:51 PM IST

Nippon Life Q3 profit jumps 33% to ₹265 crore

Nippon Life India Asset Management has registered a net profit of 264.7 crore for the December quarter, up 33.3% from a year ago. Revenue from operations grew 18.7% on-year to 392.3 crore.

30 Jan 2024, 12:45:01 PM IST

Sensex Today Live: Japan's Nikkei ends higher

Japan's Nikkei share average ended higher, as chip-related shares tracked overnight gains on Wall Street, but caution ahead of the Federal Reserve's decision limited the rise. The Nikkei edged up 0.11% to close at 36,065.86, coming off earlier highs, as investors hesitated from active buying toward the end of the session.

30 Jan 2024, 12:29:20 PM IST

Sensex Today Live: KPIT Technologies Q3 results

Profit after tax came in at 155 crore, up from 100 crore a year ago. Revenue was at 1,257 crore, up from 917 crore a year ago.

 

30 Jan 2024, 12:20:42 PM IST

Sensex Today Live: NCLT agrees to hear Zee shareholder’s plea on Sony merger

The NCLT has agreed to hear Zee shareholder Mad Men Film’s plea to implement the merger with Sony as it was cleared by the tribunal.

30 Jan 2024, 12:07:15 PM IST

Sensex Today Live: Dhruv Mudaraddi, research analyst, Stoxbox, previews Maruti results

“Maruti Suzuki Ltd is expected to report low double-digit growth YoY in sales owing to a notable 8% YoY volume growth, primarily driven by strong traction in UVs which experienced a remarkable 60% YoY surge.

“However, entry-level models faced a decline of 48% YoY during the same period. The company's EBITDA margin is expected to slightly contract which can be attributed to the increase in RM costs along with operational deleverage.

“Despite domestic volumes shrinking 11% QoQ, realization is anticipated to increase sequentially, propelled by an improved product mix leaning towards SUVs, along with exports which grew 3% QoQ, contributing ~14.3% to sales in Q3FY24."

30 Jan 2024, 12:03:32 PM IST

Sensex Today Live: 12 pm market update

At 12 pm the Sensex was down 137.89 points or 0.19% at 71,803.68, and the Nifty was down 7.20 points or 0.03% at 21,730.40.

30 Jan 2024, 11:55:23 AM IST

Sensex Today Live: Petronet LNG stock in focus

The company recorded consolidated net profit of 1,213 crore for the December quarter, up 41.7% from the previous quarter, backed by healthy operating numbers. Revenue from operations grew by 17.7% sequentially to 14,747.2 crore during the quarter.

The stock is currently up 5.4% at 277.15.

 

30 Jan 2024, 11:34:02 AM IST

Sensex Today Live: Prathamesh P.Masdekar, research analyst, StoxBox, previews Sun Pharma earnings

"We expect Sun Pharma Industries Ltd to come out with a healthy set of numbers in Q3FY24, aided by specialty portfolio and domestic brand formulation, which will help offset US generic pressures expected in the current quarter. 

"The pharma giant is poised to have a high single-digit revenue growth on a YoY basis, led by low teen growth in the global specialty portfolio and domestic branded formulation business. 

"We believe its US generic business may decline on a QoQ basis, primarily due to supply challenges. However, its EBITDA and PAT margins will likely expand on an annual basis, mainly driven by strong branded contributions. 

“Furthermore, we would monitor the management's comments on key focus areas such as US base business, specialty portfolio, and margin trend."

30 Jan 2024, 11:19:54 AM IST

Sensex Today Live: ITC sheds 2% as Q3 results miss estimates

Shares of ITC are down 2% at 441.70 on the BSE after it reported a 3.2% decline in Ebitda at 6,024 crore for the December quarter.

The company recorded 10.75% growth in standalone net profit at 5,572 crore for the quarter despite weak operating numbers, thanks to more other income and a lower tax cost. Standalone revenue from operations increased by 1.6% to 16,483.3 crore, driven by the cigarette and FMCG segments.

30 Jan 2024, 11:07:34 AM IST

Sensex Today  Live: KEC International bags new orders worth ₹1,304 crore

KEC International has secured new orders worth 1,304 crore for T&D projects in India, SAARC countries and the Americas. With this, its year-to-date order intake stands at 13,000 crore.

30 Jan 2024, 11:05:02 AM IST

Sensex Today Live: 11 am market update

At 11 am the Sensex was down 205.33 points or 0.29% at 71,736.24, and the Nifty was down 32.90 points or 0.15% at 21,704.70.

30 Jan 2024, 10:44:58 AM IST

Sensex Today Live: NCLT rejects aircraft lessor's insolvency petition against SpiceJet

The National Company Law Tribunal (NCLT) has dismissed an insolvency petition filed against SpiceJet by aircraft lessor Wilmington Trust SP Services on 29 January.

30 Jan 2024, 10:43:29 AM IST

Hearing tomorrow in Zee vs Sony emergency arbitration in Singapore  

Hearing for an Emergency arbitration in the Zee Entertainment-Sony merger will take place tomorrow in Singapore, CNBC-TV18 reports, citing sources.

30 Jan 2024, 10:29:05 AM IST

Sensex Today Live: Euphoria Infotech lists at 90% premium over IPO price

Euphoria Infotech's stock listed at 190, a 90% premium to the IPO price of 100 on the BSE SME platform.

30 Jan 2024, 10:27:36 AM IST

Sensex Today Live: L&T's construction arm bags huge UAE order

L&T Construction has won a huge order in the range of 10,000-15,000 crore to set up a renewable energy generation plant in the United Arab Emirates.

30 Jan 2024, 10:12:35 AM IST

Sensex Today Live: Petronet LNG stock up more than 3%

The company recorded consolidated net profit of 1,213 crore for the December quarter, up 41.7% from the previous quarter, backed by healthy operating numbers. Revenue from operations grew by 17.7% sequentially to 14,747.2 crore during the quarter.

The stock is currently up 3.38% at 271.85.

30 Jan 2024, 10:07:27 AM IST

Sensex Today Live: 10 am market update

At 10 am the Sensex was down 72.90 points or 0.10% at 71,868.67, and the Nifty was up 4.90 points or 0.02% at 21,742.50.

30 Jan 2024, 09:59:46 AM IST

Sensex Today Live: Mahindra Logistics stock sheds 6% 

The company reported a net loss of 16.4 crore from 15.5 crore last year. Revenue was up 5.1% at 1,397.2 crore, Ebitda was down 17.1% to 52.2 crore, and margin dropped to 3.7% from 4.7% last year.

The stock is currently down 5.77% at 412.30.

30 Jan 2024, 09:49:18 AM IST

Sensex Today Live: UTI Asset Management Company stock zooms 10%

The company reported a net profit of 186 crore in Q3 against 60 crore a year ago. The stock is currently up 9.37% at 948.

30 Jan 2024, 09:37:55 AM IST

Sensex Today Live: Rupee gains against US dollar in early trade

The rupee is up 3 paise to 83.13 against the US dollar in early trade.

30 Jan 2024, 09:37:01 AM IST

Sensex Today Live: Vodafone Idea stock in focus

The telecom operator posted a net loss of 6,986 crore for the December quarter, against a loss of 8,738 crore in the previous quarter. Revenue fell 0.4% sequentially to 10,673.1 crore.

The stock is currently down 0.34% at 14.65.

30 Jan 2024, 09:25:03 AM IST

Sensex Today Live: Bajaj Finance stock down more than 4%

Shares of Bajaj Finance are currently down 4.36% at 6,878.25.

On Monday the company registered 22% growth in consolidated net profit at 3,639 crore for the December quarter despite higher loan losses and provisions. Net interest income during the quarter increased by 29% from a year ago to 7,655 crore.

30 Jan 2024, 09:18:56 AM IST

Sensex Today Live: Indices open in the green

Indian benchmark indices opened in the green, with the Nifty around 21,800.

At 9.15 am the Sensex was up 152.63 points or 0.21% at 72,094.20, and the Nifty was up 61.20 points or 0.28% at 21,798.80.

30 Jan 2024, 09:13:38 AM IST

Sensex Today Live: Prashanth Tapse, senior VP, research, Mehta Equities

"Nifty surged in the recent session, propelled by a 6.8% gain in Reliance Industries, reaching a record high of Rs. 2905 and a market capitalization of Rs. 19.2 lakh crore. 

"The current market outlook suggests a sustained and broadening rally on Dalal Street, contingent on Nifty maintaining levels above 21389. Positive factors include Wall Street nearing its all-time high, a growing US economy, easing inflation rates, a thriving artificial intelligence revolution, and optimism around the FM’s economic blueprint. 

“Key upcoming events include the FOMC rate decision, FM Nirmala Sitharaman’s interim Union Budget, and the US Jobs Report. Notable Q3 corporate earnings today include Astral, Bajaj Finserv, and Dr Reddy's Lab. Nifty's options data hints at a trading range of 21300-22500. The top stock recommendation is to buy Hindustan Aeronautics Limited (HAL) with specific targets and a breakout play rationale."

30 Jan 2024, 09:05:36 AM IST

Sensex Today Live: Results incoming

Companies that will announce their December-quarter earnings today: 

Larsen & Toubro, Dr Reddy's Laboratories, Bajaj Finserv, PB Fintech, Arvind, Astral, Adani Total Gas, Blue Star, Cochin Shipyard, Coromandel International, Gillette India, JBM Auto, J Kumar Infraprojects, KEC International, KPIT Technologies, Mahindra & Mahindra Financial Services, Piramal Pharma, Keystone Realtors, Shyam Metalics and Energy, SRF, Strides Pharma Science, Star Health and Allied Insurance Company, Symphony, Triveni Engineering & Industries, VIP Industries and Voltas

30 Jan 2024, 09:03:13 AM IST

Sensex Today Live: Morgan Stanley on ITC

-Overweight call, target 491 a share

-Company sees Q3 topline miss led by cigarettes and agri business

-Hotels reported better revenue versus estimates

-EBIT for cigarette business was below estimate while FMCG was ahead

30 Jan 2024, 08:54:54 AM IST

Sensex Today Live: Bajaj Finance stock in focus

The company registered 22% growth in consolidated net profit at 3,639 crore in the December quarter despite higher loan losses and provisions. Net interest income during the quarter increased by 29% from a year ago to 7,655 crore.

30 Jan 2024, 08:51:22 AM IST

Sensex Today Live: Oil edges up as geopolitical concerns support prices

Oil prices rose in early trade on Tuesday as escalating geopolitical tensions in the Middle East continued to fuel supply concerns.

Brent crude futures rose 25 cents or 0.3% to $82.65 a barrel by 0105 GMT. US West Texas Intermediate crude was up 31 cents or 0.4% at $77.09 a barrel.

30 Jan 2024, 08:04:13 AM IST

Sensex Today | All Asian markets except Hong Kong trade higher

Asian markets were trading higher on Tuesday. The only exception was Hong Kong, which fell as investors continue to grapple with the fallout from China Evergrande’s liquidation order.

30 Jan 2024, 07:59:18 AM IST

Sensex Today Live: ITC stock in focus

The company recorded 10.75% growth in standalone net profit at 5,572 crore for the December quarter despite weak operating numbers, thanks to more other income and a lower tax cost. Standalone revenue from operations increased by 1.6% to 16,483.3 crore, driven by the cigarette and FMCG segments.

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