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Home / Markets / Live Blog /  Sensex ends 400 pts down, Nifty settles above 17.6k; most sectoral indices bleed

Sensex ends 400 pts down, Nifty settles above 17.6k; most sectoral indices bleed

Stock Market Today: Benchmark stock indices Sensex and Nifty plunged by over 0.70%. (PTI)Premium
Stock Market Today: Benchmark stock indices Sensex and Nifty plunged by over 0.70%. (PTI)

  • Markets close: The Indian equities markets were under heavy selling pressure for the fourth consecutive day on Friday with benchmark Sensex slumping over 600 points, though there was some recovery by the end of day

Indian shares dropped more than 0.70% on Friday and were headed for their worst week since late-November, weighed down by technology and banking stocks, while investors awaited results from a slew of companies including heavyweight Reliance Industries. Asian peers and U.S. futures were weaker on Friday after an overnight beating on Wall Street, as concerns over the Federal Reserve's policy tightening lingered.

21 Jan 2022, 03:48:07 PM IST

Markets at close

The blue-chip NSE Nifty 50 index was down 0.79% to 17,617.15, while the S&P BSE Sensex dropped 0.72% at 59,037.18, after falling as much as 1.3% each earlier in the session to their lowest levels since early-January. The Nifty IT index trimmed some losses after an early 2% plunge as IT giant Tata Consultancy Services turned positive. The index was still set for its worst week since October as Infosys slid 2%.

Meanwhile, shares of Hindustan Unilever rose over 2% after the consumer goods giant logged a rise in quarterly profit and margins beat analyst estimates. Shoppers Stop jumped 4.74% after the department store chain swung to a profit in the third quarter. Reliance Industries, JSW Steel, HDFC Life Insurance and SBI Life Insurance slipped ahead of their earnings reports.

There was heavy selling pressure in IT, metal, financial and banking stocks. Bajaj Finserv tumbled 5.27 per cent to 16,350.00. Tech Mahindra tumbled 4.44 per cent to 1,594.15. Tata Steel slumped 3.18 per cent to 1,169.05. The index heavyweight RIL, which is scheduled to announce its Q3 results later in the day, was trading 0.03 per cent down at 2,478.10.

On the Nifty, 15 stocks advanced while 35 declined. Bajaj Auto, Hindustan Unilever, and Maruti were among the biggest gainers, while Bajaj Finserv, Tech Mahindra, and Shree Cement were top drags. 

22 of 30 Sensex stocks ended 21 January in the red.
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22 of 30 Sensex stocks ended 21 January in the red.
21 Jan 2022, 03:26:12 PM IST

HDFC Life Q3 profit rises 3% to ₹274 crore

HDFC Life on Friday reported a 3% increase in net profit to 273.65 crore for the third quarter ended December. The same was 264.99 crore in the last year period.

However, total income declined to 14,222 crore in the latest December quarter from 21,126 crore in October-December 2020. 

21 Jan 2022, 03:15:51 PM IST

Hindustan Zinc Q3 net profit rises 23%; stock recovers from lows

Hindustan Zinc today reported consolidated net profit of 2,701 crore for the December quarter, which is 23% higher than 2,200 crore reported in the last year period.

On a sequential basis, the profit after tax (PAT) rose by 34%. It was 2,017 crore in the September quarter (Q2FY22).

 

21 Jan 2022, 03:05:15 PM IST

Only six of 30 Sensex stocks in the green

BSE stocks
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BSE stocks
21 Jan 2022, 02:55:02 PM IST

Union Budget expectations (healthcare sector): Siddhant Khandekar, Analyst – ICICI Direct 

Healthcare PPP likely to get Budget Boost via PMASBY

In the backdrop of continuing pandemic shocks and its implications, we expect the government to put significant trust on healthcare infrastructure by combining execution power and skills of private hospitals to cater to secondary / tertiary / quaternary services while using its own channels and infrastructure to handle primary care at the grass root level. The role of private hospitals cannot be over-emphasized especially with their involvement in handling the pandemic during the peak of the second Covid-19 wave.

The last year’s Budget had made a passing reference to a new centrally sponsored scheme, PM Atmanirbhar Swasth Bharat Yojana (PMASBY), to be launched at an outlay of about | 64,180 crore over six years. Among others, it included an important aspect of establishing critical care hospital blocks in 602 districts and 12 central institutions. We expect the government to involve private hospital players in this intervention via the PPP model as proposed by Niti Aayog in sync with NHP 2017.

Any further announcements especially with reference to PMASBY or towards PPP involvement could be beneficial for Pan-India Hospital chains such as Apollo, Narayana and Shalby among others.

21 Jan 2022, 02:45:14 PM IST

India's PVR Dec-Quarter Consol Net Loss Narrows

PVR's December quarter consolidated net loss reported at 101.8 million (versus loss of 491 million a year ago).

21 Jan 2022, 02:35:16 PM IST

Why is Sensex down 2500 points in 4 days? Experts list out 5 top reasons

Stock market today continues to fall for fourth straight session. In last four trade sessions, the BSE Sensex has lost around 2500 points whereas NSE Nifty has dipped near 700 points. According to market experts, weak rupee and FIIs fishing out money from the Indian markets have worked as trigger for trend reversal and now corporate performance not coming as expected by Dalal Street has further cemented the bears grip on the markets. They said that due to the 5 state elections, market is expecting populist budget and it is also working as morale booster for bears against bulls. 

21 Jan 2022, 02:25:37 PM IST

Essar Capital appoints former SAIL head Anil K Chaudhary as CEO, metals & mining

Essar Capital Ltd, the investment manager of Essar Global Fund Ltd, has appointed former chairman and managing director of Steel Authority of India Limited (SAIL) Anil Kumar Chaudhary as chief executive officer for its metals & mining business. 

21 Jan 2022, 02:15:25 PM IST

Zomato shares fall over 12% in 5 days

Shares of Zomato slumped over 7% to 116 apiece on the BSE in Friday's session, tanking about 12% in the last five trading sessions. The market capitalization of the food delivery platform fell below the 1 lakh crore mark. The stock got listed in July 2021 and is up more than 50% from its IPO issue price of 76.

Should you buy?  

Zomato
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Zomato
21 Jan 2022, 02:05:38 PM IST

Union Budget expectations (Telecom sector): Bhupendra Tiwary, Analyst – ICICI Direct

Telecom on a strong foot amid government support, tariff hike and 5G opportunities

While India is behind the curve as of now for 5G (67 countries have already deployed), 2022 is the year when the auction is likely to be held second half of the year. However, ahead of the same, telcos have asked for cut in spectrum prices by 90%, at least a 5-6 years of moratorium on the payments, zero upfront payment and allowing them to pay the bid amount over 25 years Thus, the response to the above will be key for overall spectrum demand, in our view. For Budget per se, major decision on 5G might not be seen but any decision on rationalising levies, including USOF fee could be a monitorable.

The sector has witnessed major support in the form of government relief in spectrum/AGR payment moratorium along with rationalisation of AGR definition, easing bank guarantee requirement etc. in September, 2021. Major driver for 2022, in our view, will be recent tariff-hike which will result in~20% ARPU growth and ~22-27% EBITDA growth for telcos in FY23. On a medium to long term basis, 5G is expected to provide opportunities for operators to charge a premium for their services and drive a better customer experience with increased uptake in service, eventually boosting the average revenue per user (ARPU). Nonetheless, major game changer will be business use cases over long term, which will be next generation catalyst for digitisation.

Our Top Picks are Bharti Airtel and Reliance Jio (subsidiary of Reliance Industries).

21 Jan 2022, 01:55:49 PM IST

IDBI Bank Dec Quarter Net Profit Rises

IDBI Bank's December quarter net profit was recorded at 5.78 billion (up from 3.78 billion a year ago). 

21 Jan 2022, 01:45:33 PM IST

RattanIndia Power consolidated net loss widens to ₹386.69 cr in Dec qtr

RattanIndia Power Ltd (RPL) consolidated net loss widened to 386.69 crore in the December quarter, compared to the same period a year ago, due non-operation of Nashik thermal power plant.

The company had reported a consolidated net loss of 69.09 crore in the quarter ended on December 31, 2020, the company said in a regulatory filing.

The widening of the consolidated loss in the December quarter was "due to non-operation of Nashik Thermal Power Plant (Sinnar Thermal Power Ltd). That exposure has no bearing on parent RattanIndia Power Ltd," a company spokesperson said. 

21 Jan 2022, 01:35:09 PM IST

Hindustan Unilever surges over 2 pc on strong Dec qtr numbers

Shares of Hindustan Unilever Ltd defied the muted broader market trend and surged over 2 per cent in morning trade on Friday after the FMCG major reported strong December quarter earnings.

On the BSE, the stock opened at 2,282.00, then jumped 2.42 per cent and touched an early high of 2,316.40 in initial deals. It was later trading at 2,306.10, up 1.97 per cent.

On the NSE, the stock opened at 2,264.80, then touched a high of 2,308.70, registering a gain of 2.07 per cent over its last close. 

21 Jan 2022, 01:25:57 PM IST

Paytm at all-time low

Paytm
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Paytm
21 Jan 2022, 01:16:31 PM IST

IRCTC shares: Buy or sell? 

Indian Railway Catering and Tourism Corporation (IRCTC) stock is among IIFL’s top sells for 2022 as the risk-reward is unfavourable in the brokerage's view, considering regulatory risks around sustenance of the unreserved-to-2S conversion and higher fixed charges on Tejas trains payable to Indian Railways (IR).

If the government sells further stake in IRCTC, a potential loss of monopoly in the ticket booking engine cannot be ruled out, it highlighted. Its sell rating on the PSU stock comes with a 12-month target price of 745 per share.

 

21 Jan 2022, 01:05:01 PM IST

Dolly Khanna portfolio stock hits upper circuit for second straight session

Despite weakness in stock market today, Dolly Khanna portfolio stock Ajanta Soya share price has hit 5 per cent upper circuit. This is Dolly Khanna share's second back-to-back upper circuit as it has hit 5 per cent upper circuit on yesterday as well. In fact, in last 4 out of 5 sessions, Ajanta Soya shares have hit 5 per cent upper circuit delivering around 22 per cent return to its shareholders. 

21 Jan 2022, 12:54:27 PM IST

Volume toppers on Sensex

BSE
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BSE
21 Jan 2022, 12:44:29 PM IST

Nasdaq 100 Futures Extend Loss on Rate Concerns, Netflix Plunge

Futures tracking the Nasdaq 100 Index extended losses after the underlying technology-heavy gauge entered a correction and shares of Netflix Inc. plunged 20% in after-hours trading.

March contracts slid as much as 1.6%, before paring their decline to 0.9% as of 6:45 a.m. in London, as investors remained nervous over the prospect of tighter Federal Reserve policy. A report Thursday showing gain in U.S. jobless claims to a three-month high did little to quell those concerns.

21 Jan 2022, 12:34:59 PM IST

Bitcoin Chart Hints at Possible Floor for Slide

Bitcoin’s weekly relative strength index -- an indicator of its momentum -- has fallen to a level that in the past accompanied floors for selloffs in the cryptocurrency. The zone in question is the 33 to 40 range, and the gauge dipped into the region Friday amid a tumble in the largest digital coin. Bitcoin is down some $30,000 from a November record of nearly $69,000 as speculators question its outlook in a world of receding Federal Reserve stimulus. (Bloomberg)

21 Jan 2022, 12:24:08 PM IST

Bajaj Auto top gainer

Bajaj Auto up 4%
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Bajaj Auto up 4%
21 Jan 2022, 12:14:46 PM IST

IT stock rises 10% despite weakness in stock market today. Should you buy?

Despite BSE Sensex losing over 600 points and NSE Nifty dipping over 150 points in early morning deals, Nucleus Software Exports Ltd. share price has surged more than 10 per cent today. Nucleus Software share price today opened with a downside gap of 1.80 per share but soon started skyrocketing and hit intraday high of 425 apiece levels, logging more than 10 per cent rise from its previous close. 

21 Jan 2022, 12:05:16 PM IST

Dolly Khanna buys stake in multibagger fashion stock. Do you own?

Dolly Khanna's name has appeared in the list of individual shareholders of Monte Carlo Fashions, who own more than 1 per cent share of the company. The information came to public domain after the Bombay Stock Exchange (BSE) shared Monte Carlo Fashions shareholding pattern for recently ended December 2021 quarter on its website. In this shareholding pattern of the company, Chennai-based ace investor holds 1 per cent stake in the company. 

21 Jan 2022, 11:54:52 AM IST

Most active stocks on Nifty

NSE
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NSE
21 Jan 2022, 11:44:34 AM IST

Future Retail unable to meet ₹35 billion debt deadline

Future Retail Ltd. isn’t in a position to make a payment on 35 billion rupees ($471 million) of past-due debt before the grace period expires and will also miss an upcoming $14 million bond coupon deadline, according to people familiar with the matter.

Its dollar bond fell following the news, suffering its biggest decline in about three weeks on Friday. 

21 Jan 2022, 11:34:13 AM IST

Vijay Kedia hikes stake in this portfolio IT stock in Q3

Indian ace investor and stock market trader Vijay Kedia has increased stake in his portfolio stock Ramco Systems during the October-December 2021 (Q3) period. Shares of Ramco Systems have underperformed as the IT stock is down over 37% in a year as compared to around 20% rise in benchmark Sensex. 

21 Jan 2022, 11:24:24 AM IST

Top gainers/losers at this hour

Nifty
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Nifty
21 Jan 2022, 11:14:57 AM IST

Delhi weekend curfew update: CM Kejriwal wants to end curbs

Delhi chief minister Arvind Kejriwal has sent a recommendation to Lieutenant Governor Anil Baijal to end the weekend curfew in the national capital, ANI reported on Friday.

The decision to ease the restrictions was taken in view of declining number of Covid cases in the city. 

21 Jan 2022, 11:04:07 AM IST

Ashish Kacholia buys shares in tablewares maker, volume spurts

Ace investor has added La Opala RG stock in its portfolio in Q3FY22. The information came to public notice when Ashih Kacholia's name appeared in La Opala RG shareholding pattern for recently ended December 2021 quarter. In La Opala RG shareholding pattern for October to December 2021 quarter, Ashish Kacholia holds 1.04 per cent stake in the tablewares maker and marketer company. After revelation of this information, market gave sharp reaction and volume in the new Ashish Kacholia stock spurt to the tune of 8.79 folds.

21 Jan 2022, 10:58:34 AM IST

Adani Wilmar IPO price band announced as issue opens next week

The three-day initial public offering (IPO) of edible oil major Adani Wilmar Ltd will open next week on Thursday, January 27. The company has fixed a price band of 218-230 a share for its 3,600-crore initial share sale that will conclude on January 31. The bidding for anchor investors will start on January 25.

Key details here.

21 Jan 2022, 10:46:46 AM IST

Banks drag down Sensex

BSE Index Contribution.
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BSE Index Contribution.
21 Jan 2022, 10:35:27 AM IST

Gold prices edge higher on weaker yields, set for second weekly gain

Gold prices edged higher on Friday and were set for a second weekly gain, as safe-haven demand and lower U.S. bond yields lifted the metal's appeal, while investors look forward to a Federal Reserve meeting for clues to its tightening timeline.

Spot gold was up 0.1% at $1,840.59 per ounce, as of 0414 GMT, inching towards Thursday's two-month high of $1,847.72. U.S. gold futures dipped 0.1% at $1,840.80.

Benchmark U.S. 10-year Treasury yields fell, reducing the opportunity cost of holding non-yielding bullion.

21 Jan 2022, 10:29:22 AM IST

India’s bond market has $30 billion riding on index inclusion

India is inching toward a major milestone: opening its $1 trillion government bond market to more international investors, one of the most ambitious attempts to attract foreign inflows since the country liberalized its economy three decades ago.

Policy makers have spent months preparing to join global indexes, key benchmarks that increasingly determine how large asset managers allocate their capital. And now, after a series of fits and starts, analysts expect the world’s last big emerging market to finally get the nod this year or early 2023 by providers such as JPMorgan Chase & Co. and FTSE Russell.

21 Jan 2022, 10:20:51 AM IST

Sensex reclaims 59,000

BSE
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BSE
21 Jan 2022, 10:07:54 AM IST

‘BUY’ Tata Communications

Digital revenue growth showing traction

Tata Communications’ (TCom) Q3FY22 data business net revenue grew only 2.2% YoY, but green shoots are visible with ex-collaboration digital services revenue rising 21.3% YoY. Core Connectivity saw lower revenue growth of 1.3%, but TCom remains confident of 4-5% annual growth in the segment. The company is accelerating hiring (plans >1,000 new hires in FY23), mostly in sales and technical department, providing signs of its rising aggression. Large deal orderbook growth was strong in Q2FY22, which normalised in Q3FY22, and is only a temporary setback, in our view. TCom is in a sweet spot with corporates looking to significantly invest in upgrading their networks, and adoption of next-gen connectivity. TCom’s ability to provide digital services only adds to TAM. 

We have cut our EBITDA estimates for FY22E / FY23E by 4.7% and 2.4%. Maintain BUY with a revised TP of Rs1,680 (from Rs1,750) as we roll over valuation to FY24E, but cut EPS multiple to 20x (from 22x). 

21 Jan 2022, 09:57:32 AM IST

‘BUY’ CEAT: YES Securities

Moderation in capex guidance is positive

CEAT 3QFY22 results missed estimates led by weak volumes (~2% QoQ decline due to weak replacement/OE demand) and RM pressure (~4% increase in RM basket). This as a result led to record low EBITDA margins at 5.5% (‐340bp QoQ). However, we expect reversal in margins to normalized level at 10‐11% gradually over FY23/24 led by 1) growth in replacement/exports volume and 2) focus on market share gains in high margin segments like 2W, PCR, OHT (~60% mix over next 4‐5 years). CEAT has prioritized high margin segments such as exports and OHT over TBR (being a low ROCE biz). Hence, the management has cut capex guidance by Rs2b for FY22 to Rs8b and FY23 at Rs7.5b, which should limit the increasing debt level (expect to peak by FY23).

Nearterm challenges like RM inflation pass through (need another ~5% price hike to offset the same) and increased debt level to 0.7x D/E (v/s 0.6x in 1HFY22) are key variable to watch for over FY22/23. CEAT is a play on i) healthy replacement/OE outlook going forward as supply chain normalizes, ii) timely capacity addition and iii) focus on margin lucrative segments. We have cut FY23 EPS by ~21% while have maintained FY24 EPS. We maintain ‘BUY’ on the stock with Price Target at Rs1,471 based on ~15x FY24 EPS.

Current valuation at ~16.8x/11.7x of FY23/24 consol EPS do partly factors in above challenges. 

21 Jan 2022, 09:47:02 AM IST

Barring FMCG, all sectoral indices in the red

Source: NSE
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Source: NSE
21 Jan 2022, 09:37:58 AM IST

24 of 30 Sensex stocks in the red

Sensex stocks
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Sensex stocks
21 Jan 2022, 09:30:51 AM IST

Nifty opens below 17,600 

NSE
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NSE
21 Jan 2022, 09:17:32 AM IST

Markets open in the red

BSE Sensex
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BSE Sensex
21 Jan 2022, 09:12:25 AM IST

Sensex in pre-open

BSE Sensex
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BSE Sensex
21 Jan 2022, 09:03:48 AM IST

Nifty in pre-open

Nifty50
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Nifty50
21 Jan 2022, 08:59:43 AM IST

Stocks to Watch: RIL, HDFC Life, HUL, Vodafone Idea

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

21 Jan 2022, 08:54:28 AM IST

Bitcoin falls below $40,000, ether, dogecoin, Solana, other crypto prices today also crash

Bitcoin price today continued the declining trend by trading below $40,000 level, hit by investors’ weakening sentiment. The world's most popular and largest cryptocurrency by market value tanked 5% to $39,749. Bitcoin has slipped more than 10% since the start of this year (year-to-date or YTD).

21 Jan 2022, 08:38:35 AM IST

Rakesh Jhunjhunwala trims stake in this PSU stock after zero return in Q3

After getting zero return in Q3FY22 from the PSU stock — Steel Authority of India Limited or SAIL — Big Bull Rakesh Jhunjhunwala has trimmed his stake in the Navratna company during October to December 2021 quarter. As per the shareholding pattern of SAIL for Q3 FY2021-22, Rakesh Jhunjhunwala has cut down his stake in the company from 1.76 per cent to 1.09 per cent.

21 Jan 2022, 08:27:17 AM IST

Day trading guide for Friday 

4 stocks to buy or sell today — 21st January

21 Jan 2022, 08:17:23 AM IST

Asian markets fall after weak showing on Wall St, oil tumbles

Asian share markets and U.S. futures fell on Friday, after U.S. stocks took a knock overnight, hurt by lingering concerns over the Federal Reserve's tightening and weaker-than-expected economic and earnings data.

MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.8%, and Japan's Nikkei slid 1.66%. Oil prices fell sharply and were on track for their first weekly loss this year.

"The selloff of U.S. stocks yesterday was brutal and will dominate Asia this morning," said Rob Carnell, chief economist at ING in Singapore.

"But there are pockets of optimism like China's more accommodating moves on monetary policy," he added.

The Nasdaq dropped late in the U.S. session, to close 1.3% lower, as investors anxiously await the Fed's policy meeting next week for details on how it intends to tackle inflation.

21 Jan 2022, 08:01:09 AM IST

SGX Nifty futures trading 141 points (0.79%) lower at 17,659 in early deals

21 Jan 2022, 07:47:42 AM IST

Rupee slips 7 paise to end at 74.51 against USD

The Indian rupee weakened by 7 paise to close at 74.51 against the US dollar on Thursday as sustained foreign fund outflows and rising crude oil prices hurt forex market sentiment.

Further, massive sell-offs in domestic equities for a third session in a row on Thursday too made investors more cautious, analysts said.

At the interbank foreign exchange market, the local currency opened at 74.43 against the greenback and witnessed an intra-day high of 74.29 and a low of 74.53 during the session.

The rupee finally settled at 74.51, down 7 paise over its previous close of 74.44.

21 Jan 2022, 07:42:37 AM IST

Indices on Thursday

SE benchmark Sensex spiralled lower for the third consecutive session on Thursday to finish below the 60,000-level, weighed by hectic selling in IT, energy and finance stocks amid a sell-off in European equities.

A depreciating rupee and continued selling by foreign investors also affected the market sentiment, traders said.

The 30-share BSE index ended 634.20 points or 1.06 per cent lower at 59,464.62. Similarly, the NSE Nifty plunged 181.40 points or 1.01 per cent to 17,757.

21 Jan 2022, 07:40:09 AM IST

Stocks Drop With Futures, Bonds Up as Nerves Fray

U.S. equity futures declined and stocks fell Friday after a late-day reversal on Wall Street as sentiment skidded on some shaky company earnings reports and the prospect of tighter Federal Reserve policy.

Contracts on the S&P 500 and technology-heavy Nasdaq 100 retreated, with the latter underperforming. Wall Street gains evaporated in a late-session reversal Thursday, marooning the tech gauge in a correction and leaving the S&P 500 off over 5% from its January high.

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