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Home / Markets / Live Blog /  Sensex tanks 650 pts, Nifty ends below 17,950; Infosys, Asian Paints top losers

Sensex tanks 650 pts, Nifty ends below 17,950; Infosys, Asian Paints top losers

Share Market Today: Benchmark stock indices Sensex and Nifty ended in the red.Premium
Share Market Today: Benchmark stock indices Sensex and Nifty ended in the red.

  • Market close: The Indian equities markets reeled under selling pressure for the second consecutive day on Wednesday with benchmark Sensex slumping over 600 points and Nifty sliding below the 18,000 points mark.

Indian equities fell in line with Asian peers on Wednesday, with technology stocks leading the decline as U.S. Treasury yields hit two-year highs. Globally, stocks are on track to hit a new low for the year while bond yields surged on Wall Street Tuesday amid renewed jitters that the Federal Reserve will lift interest rates to tackle rising inflation.

19 Jan 2022, 03:42:14 PM IST

Markets at close

There was heavy selling pressure in IT, FMCG and banking and financial stocks. Infosys slumped by over two per cent. Wipro, HCL Technologies and TCS were down by close to one-and-a-half per cent.

The 30 stock S&P BSE Sensex of the Bombay Stock Exchange ended at 60,098.82 points, which was 656.04 points or 1.08 per cent down from its previous day's close.

The broader Nifty 50 of the National Stock Exchange ended at 17,945.30 points, which is 0.93 per cent or 167.75 points down from its previous day's close. The Nifty touched a high of 18,129.20 points and low of 17,884.90 points.

Asian Paints slumped 2.71 per cent to 3281. Infosys slumped 2.85 per cent to 1,866.20. Meanwhile, Maruti surged 1.21% to 1,209. Only seven of the 30 scrips that are part of the Sensex ended in the green. ONGC, Tata Motors, Coal India, SBI, and UPL were the top gainers on the Nifty where 14 stocks advanced while 36 declined.

 

Sensex stocks.
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Sensex stocks.
19 Jan 2022, 03:26:47 PM IST

Most broad market indices in the red

Source: NSE
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Source: NSE
19 Jan 2022, 03:16:33 PM IST

Global Stocks Pare Selloff as Bond Yields Climb

Stocks pared a global selloff on Wednesday as earnings optimism offset concerns about rising bond yields.

Retailers rose in Europe after Richemont and Burberry Group Plc beat expectations, while the broader Stoxx 600 Index and U.S. futures trimmed losses to trade little changed. A surge in Treasury yields is stirring expectations that the U.S. 10-year will top 2%.

Speculation is growing that the Federal Reserve may deliver more than a quarter-percentage point March interest-rate hike to fight inflation, while the Bank of England may move again next month.

19 Jan 2022, 03:06:11 PM IST

Biocon up over 5%

Biocon.
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Biocon.
19 Jan 2022, 02:56:21 PM IST

IndianOil picks up IEX’s 4.93% stake in country’s only gas exchange IGX

Indian Energy Exchange (IEX), country’s largest power exchange and Indian Oil Corporation (IndianOil), India’s largest oil refining and fuel marketing firm, have entered into a strategic partnership under which the fuel retailer has picked up 4.93% equity in Indian Gas Exchange Ltd. 

19 Jan 2022, 02:46:49 PM IST

Top gainers/losers on Nifty at this hour

NSE
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NSE
19 Jan 2022, 02:36:53 PM IST

Power Finance Corporation, REC reduce lending rates across all types of loans

State-owned non-banking financial companies (NBFCs), Power Finance Corporation and REC Ltd have further reduced their lending rates across all types of loans by 40 bps, according to an official statement. 

19 Jan 2022, 02:26:18 PM IST

Paytm shares hit an all-time low today

Shares of Paytm slipped to an all-time low of 990 on the BSE by falling over 4% in Wednesday's trading session. The stock of the digital payments and financial services firm is now down over 53% from its initial public offering (IPO) issue price of 2,150 after its dismal listing and a spate of bearish views.

Should you buy now?

19 Jan 2022, 02:16:15 PM IST

How Sensex is moving today

BSE
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BSE
19 Jan 2022, 02:05:20 PM IST

ADD ITC: ICICI Securities

- Macro & micro turning favourable

We expect ITC (stock) to benefit from (1) expectation of Value (on current FCF profile basis) to outperform Growth/Expensive basket, (2) potential price hikes in cigarettes in the current inflationary environment (better consumer acceptance likely), (3) good underlying performance in the FMCG business along with higher profit (& EVA) focus, and (4) improving outlook for the hotels business (likely cyclical upturn). Besides, focus continues on augmenting (overall) distribution.

We see (1) potential market share gains in cigarettes, (2) FMCG scale up and profitability improvement to continue and (3) potential to accelerate cost savings through a supply chain recast.

Recent media reports (link) indicate that the government panel (formed to decide on the future taxation policy for tobacco) is suggesting ways to tax tobacco (not just cigarettes). While near-term volume/profitability trajectory may be sensitive to this outcome, we believe a rational policy can provide some certainty in the medium-term. Reiterate ADD; TP Rs250.

19 Jan 2022, 01:54:44 PM IST

ABFRL partners Algonomy for personalized shopping experience

Aditya Birla Fashion and Retail Ltd. on Wednesday said it has entered into a strategic partnership with Bengaluru-based Algonomy, which offers artificial intelligence (AI) solutions to retailers, to deploy its hyper-personalisation solutions to ABFRL’s brands.

19 Jan 2022, 01:43:14 PM IST

Federal Bank, Equirus Wealth jointly launch USD Fixed Maturity Fund

Federal Bank and Equirus Wealth have together launched a ‘US dollar offshore fund’ for their customers. This is in collaboration with SCUBE Capital, a global fund management company based out of Singapore. 

19 Jan 2022, 01:33:02 PM IST

Budget 2022

The Indian government has worked on preparing a bill to regulate cryptocurrencies, which was expected to be presented to the Parliament in the Winter Session in November. Since it was not mentioned during the period, experts believe the government might mention it in the February budget.

Here is what India's crypto industry expects amid uncertainty around regulation.

19 Jan 2022, 01:23:19 PM IST

Most sectoral indices in the red

Nifty Sectoral Index.
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Nifty Sectoral Index.
19 Jan 2022, 01:13:12 PM IST

2 of 30 Sensex stocks in the green

BSE stocks
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BSE stocks
19 Jan 2022, 01:02:33 PM IST

Paytm stock price hits new low

Paytm
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Paytm
19 Jan 2022, 12:51:05 PM IST

M&M partners with Hero Electric, to manufacture electric bikes Optima & NYX

Mahindra & Mahindra (M&M) and Hero Electric on Wednesday announced a strategic partnership in electric mobility to cater to the growing demand for electric vehicles (EVs) in India.

As part of the partnership, Mahindra Group will manufacture Hero Electric’s electric bikes – Optima & NYX at their Pitampur plant to meet the growing demands of the market. Hero Electric's manufacturing unit is in Ludhiana, and it sells a wide range of electric scooters.

 

19 Jan 2022, 12:39:45 PM IST

Tata Motors launches Tigor CNG, Tiago CNG cars. Know prices, features

Tata Motors has today launched two new CNG cars to offer an alternative for the rising fuel prices in the country. The homegrown auto major launched Tata Tigor CNG and Tiago CNG today for the Indian buyers. This way, Tata Motors completes the tri-segment of vehicles; petrol/diesel, electric and CNG. Tata Tigor CNG and Tata Tiago majorly compete with Maruti Suzuki’s CNG-driven cars in India. Meanwhile, Tata Motors has also revised the passenger vehicles prices starting today due to rising input costs.

19 Jan 2022, 12:29:57 PM IST

Infosys, ICICI Bank drag Sensex down

BSE Index Contribution
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BSE Index Contribution
19 Jan 2022, 12:20:00 PM IST

Ambit Asset Management launches ‘TenX Portfolio’ fund

Ambit Asset Management has announced the launch of ‘Ambit TenX Portfolio’, a long-term investment opportunity in the listed space to multiply wealth.

19 Jan 2022, 12:09:23 PM IST

Lupin’s acquisition of branded portfolio to boost domestic sales

Lupin Ltd's proposed acquisition of a portfolio of brands of Anglo-French Drugs & Industries and its associates is being seen as a positive. The turnover of the portfolio being acquired was at 95 crore during FY21. As the acquisition is being done at cash consideration of 325 crore, it implies an enterprise value to sales valuations of 3.3 times, which is attractive and lower than the industry average of 4-5 times, as per analysts. 

19 Jan 2022, 11:59:43 AM IST

LTTS bags $45 million EV deal from US automotive firm

L&T Technology Services Ltd (LTTS) has bagged a deal worth $45 million from a US-based tier-1 automotive company, to be its strategic engineering partner and provide engineering services for its electric vehicle (EV) product portfolio. 

19 Jan 2022, 11:49:09 AM IST

ICICI Securities bullish on this multibagger IT stock post Q3 results, raises target price

Software company Newgen Software Technologies has reported robust growth of around 9% year-on-year (YoY) in Q3FY22 backed by strong performance in the EMEA/APAC region, highlighted brokerage house ICICI Securities as it sees more upside on the multibagger stock after the earnings.

19 Jan 2022, 11:39:26 AM IST

Rupee falls 12 paise to 74.70 against US dollar in early trade

19 Jan 2022, 11:29:02 AM IST

IEX divests 4.93% equity stake in arm IGX to Indian Oil

India Energy Exchange (IEX) announced divesting 4.93% equity stake in its subsidiary Indian Gas Exchange (IGX) to oil marketing company Indian Oil Corporation (IOC). Indian Oil has joined the company as a strategic partner by acquiring stake from promoter IEX. 

19 Jan 2022, 11:19:04 AM IST

Reliance Jio topples BSNL as largest fixed line broadband provider

In about two years of commercial roll out of its fixed-line broadband services, Reliance Jio has toppled 20 -year-old state-run telecom company BSNL as top service provider in the segment.

According to a monthly telecom subscribers report released by the telecom regulator Trai on Tuesday, Jio now leads the fixed-line broadband segment with 4.34 million customers.

 

19 Jan 2022, 11:07:38 AM IST

Nifty below 18,000 now

NSE
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NSE
19 Jan 2022, 10:58:56 AM IST

L&T Tech stock slips 7% as Q3 revenue disappoints

Midcap IT company L&T Technology Services Ltd (LTTS) has upset its investors with a mixed performance in the December quarter. In constant currency terms, its revenue grew 4.2% sequentially, below the 5% estimate many analysts were penciling in for the company. A combination of unfavourable factors such as seasonality, weak performance of its industrial products and medical devices verticals and a high base of Q2FY22, weighed on LTTS' revenue. 

19 Jan 2022, 10:49:00 AM IST

9 of 30 Sensex stocks in the green

Tata Steel, HDFC Bank, and RIL lead the Sensex pack.
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Tata Steel, HDFC Bank, and RIL lead the Sensex pack.
19 Jan 2022, 10:38:44 AM IST

Reliance Jio prepays ₹30,791 crore, clears all deferred spectrum liabilities acquired before March 2021

Reliance Jio Infocomm Limited, a subsidiary of Jio Platforms Limited, on Wednesday announced that it has paid 30,791 crore, which includes accrued interest, to the Department of Telecom towards prepayment of the entire deferred liabilities pertaining to spectrum acquired in auctions before March 2021. 

19 Jan 2022, 10:18:44 AM IST

Markets opening view: Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments

We are very close to the psychological support level of 18000; ideally, the Nifty should close above this for the positive sentiment to remain intact. A break of this could take us down to 17750-17800 which is the next level of support. 

19 Jan 2022, 10:08:49 AM IST

BUY Angel One: ICICI Securities

Strong earnings growth continues; benefiting from increasing retail footprint on capital markets

Angel One (Angel) successfully maintained its business momentum in Q3FY22 with 110%/23% YoY/QoQ PAT growth. We estimate PAT to clock 37% CAGR between FY21-FY24E and we value the stock at 22x FY23E EPS of 86.5 (earlier: 74). Maintain BUY with a revised target price of 1,900 (earlier: 1,630). 

19 Jan 2022, 09:59:03 AM IST

Nifty tests 18,000

Nifty 50
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Nifty 50
19 Jan 2022, 09:50:45 AM IST

Most active stocks on Nifty

Nifty
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Nifty
19 Jan 2022, 09:38:24 AM IST

AGS Transact Tech IPO opens today

The initial public offering (IPO) of AGS Transact Technologies will open for subscription today. The price band of the three day initial share-sale has been fixed at 166-175 a share, which will conclude on Friday, January 21. The payment solutions provider raised 204 crore from anchor investors ahead of its issue.

GMP, other key details. Should you subscribe or skip?

19 Jan 2022, 09:28:26 AM IST

Nifty at open

Source: NSE
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Source: NSE
19 Jan 2022, 09:18:20 AM IST

Sensex over 250 points down at open

Markets at open.
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Markets at open.
19 Jan 2022, 09:11:03 AM IST

Sensex in pre-open

Source: BSE
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Source: BSE
19 Jan 2022, 09:05:36 AM IST

Nifty in pre-open

Source: NSE
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Source: NSE
19 Jan 2022, 08:55:14 AM IST

Oil rises to 7-year high as Turkey outage adds to tight supply outlook

Oil prices rose for a fourth day to a seven-year high as an outage on a pipeline from Iraq to Turkey increased concerns about an already tight supply outlook amid worrisome geopolitical troubles in Russia and the United Arab Emirates.

Brent crude futures rose $1.44, or 1.7%, to $88.95 a barrel at 0230 GMT, adding to a 1.2% jump in the previous session. The benchmark contract climbed to as much as $89.05, its highest since Oct. 13, 2014.

19 Jan 2022, 08:44:37 AM IST

Stocks to Watch: RIL, Bajaj Fin, Airtel, Axis Bank, ICICI Prudential Life

Here is the list of the top 10 stocks that are likely to be in focus on Wednesday.

19 Jan 2022, 08:34:19 AM IST

Bajaj Auto kick-starts Q3 today. What can investors expect from two-wheeler cos’ results?

Bajaj Auto Ltd will announce its December quarter (Q3FY22) results today. Last quarter, the company’s volumes shrank by nearly 10% year-on-year. This was primarily driven by a 12% fall in two-wheeler (2W) sales, which was partly offset by an 18% growth in total three-wheeler sales (3W).

Even so, strong exports and price hikes are expected to support marginal year-on-year revenue growth in Q3. Motilal Oswal Financial Services expects Bajaj Auto’s Q3 revenues to rise by 1% year on year. However, the drop in sales volume and higher commodity costs have kept expectations low on the Ebitda margin front. Ebitda is earnings before interest, tax, depreciation and amortization; a key measure of profitability. Motilal Oswal estimates Bajaj Auto’s Ebitda margin to contract by 510 basis points (bps) year-on-year to 14.3%. One basis point is one-hundredth of a percentage point.

19 Jan 2022, 08:24:03 AM IST

Rupee slumps 33 paise to 2-week low on high crude prices, rate hike worries

Continuing its fall for the third straight session, the rupee on Tuesday slumped by 33 paise to close at a two-week low of 74.58 against the US dollar as a strong American currency and elevated crude oil prices continue to weigh on investor sentiments. Forex traders said muted domestic equities and dollar buying by banks on behalf of importers also dragged the local unit down. At the interbank foreign exchange market, the local currency opened at 74.36 against the American currency and witnessed an intra-day low of 74.60 during the session. The rupee finally settled at 74.58, down 33 paise over its previous close of 74.25 against the greenback.

19 Jan 2022, 08:13:35 AM IST

Day trading guide for Wednesday

6 stocks to buy or sell today - 19th January.

19 Jan 2022, 08:00:26 AM IST

SGX Nifty futures trading 23 points lower at 18,115.50 in early deals

19 Jan 2022, 07:54:57 AM IST

Market Wrap (Tuesday): Sameet Chavan (Chief Analyst-Technical and Derivatives, Angel One Ltd)

Nervousness across globe triggers sharp profit booking

Our markets started the session slightly in the green but right from the beginning the benchmark index looked a bit tentative. In the initial hour, Nifty tested sub-18200 levels from where the banking space took the charge and lifted markets higher to trim all losses. But market was not done with its action yet. As we stepped into the penultimate hour, the global markets became extremly nervous which resulted in a sharp decline to test 18100 at the close.

Today for the major part of the session, Nifty remained under pressure but banking was on a roll; but eventually it succumbed to the last hour sell off. This weighed down heavily on the overall sentiments as some of the stocks tumbled like a bottomless pit. Index wise, we lost slightly over a percent but the velocity at which market came off, it was intimidating. Also in last 4 – 5 days, index had done nothing but stock specific movement was quite enough to keep the traders engrossed all the time. Today it was the individual stocks who went under a hammer and hence, was certainly not a pleasant day for traders. Despite today’s correction, we are not seeing any structural damage yet, rather it should be considered as a profit booking after recent relentless run. As far as levels are concerned, 18000 followed by 17900 to be treated as key supports and if today’s decline was merely a profit booking, market should attract some buying interest around mentioned supports. On the flipside since the volatility has increased a bit, the resistance remains slightly higher at 18250 – 18350.

19 Jan 2022, 07:51:19 AM IST

Most Asian Stocks Drop as Treasury Yields Climb:

Most Asian stocks fell Wednesday following a Wall Street selloff in the wake of a surge in Treasury yields, as the prospect of Federal Reserve monetary tightening to fight high inflation weighs on markets.

MSCI Inc.’s Asia-Pacific share index dropped for a fifth session, led lower by Japan, while China and Hong Kong were steadier. U.S. futures wavered after the S&P 500 suffered a broad drop and the tech-heavy Nasdaq 100 sank 2.6%.

The slide in Treasuries is stirring expectations that the benchmark 10-year yield will top 2%.

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