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Market Closing: Sensex tanks 670 points as FMCG, banks drag; Nifty closes just above 21,500

Market Closing: Indian benchmark indices Sensex and Nifty closed sharply lower on Monday amid volatile trade. Banks and FMCG shares dropped the most. Fear index India VIX rose 7%

Market Close: Sensex and Nifty fell sharply on Monday amid volatile trade.

Market Closing: Indian benchmark indices Sensex and Nifty fell sharply on Monday amid volatile trade and as lacklustre business updates hinted at weak quarterly results. Sensex ended at 71,355.22, down 671 points and Nifty closed 0.9% lower at 21,513. The fear index India VIX rose 7%. Most sectoral indices, barring media, ended in the red with banks and FMCG being the biggest laggards. Midcaps and smallcaps also finished with losses tailing the benchmarks.

Markets are likely to be significantly influenced by the upcoming quarterly earnings from major IT companies like TCS and Infosys, as well as global market trends. Investors will also closely watch for macroeconomic data such as inflation figures for December and industrial production data for November, which are due post-market hours on Friday. 

Inflows into India's equity mutual funds rose in December, driven by a sustained preference for small-caps, AMFI data showed. Net equity mutual fund inflows rose to 169.97 billion rupees last month from 155.36 billion rupees in November, the data showed.

Asian stocks declined amid losses in Hong Kong and China following concern over tighter regulation on the gaming industry and fears the Chinese government’s efforts to bolster the economy are insufficient. S&P 500 futures were little changed. Hong Kong’s Hang Seng Index, China’s Shanghai Composite Index and Australia’s S&P/ASX 200 Index fell today. Japanese markets were shut today.

 

08 Jan 2024, 03:38 PM IST Market Closing: Sensex tanks 600 points as FMCG, banks drag; Nifty closes just above 21,500

Indian benchmark indices Sensex and Nifty fell sharply on Monday amid volatile trade and as lacklustre business updates hinted at weak quarterly results. Sensex ended at 71,355.22, down 671 points and Nifty closed 0.9% lower at 21,513. The fear index India VIX rose 7%. HDFC Bank, ICICI Bank, Reliance, and ITC were the biggest contributors to the decline on Sensex. Of the 30 shares on the index, only six closed in the green.

Most sectoral indices, barring media, ended in the red with banks, metals and FMCG being the biggest laggards. Midcaps and smallcaps also finished with losses tailing the benchmarks. The Indian rupee ended flat at 83.13 per dollar against 83.16 at Friday's close.

08 Jan 2024, 03:26 PM IST Sensex Today Live: SC issues notice to Centre on 28% GST for online gaming companies

The Supreme Court on Monday issued a notice to the government seeking a response to a plea filed by online gaming companies on tax demands adding up to 1.5 lakh crore. The court, however, did not issue a stay on the tax notices issued by the government.

08 Jan 2024, 03:20 PM IST Sensex Today Live: Alok Misra, CEO & Director, MFIN on the microfinance sector

“RBI regulated microfinance institutions as of date provide collateral free doorstep credit to 71 million low-income women clients. The contribution of microfinance to inclusive growth story of India requires some critical policy support.

First, MFIN has been advocating for a dedicated funding support for microfinance institutions with special focus on small and medium sized institutions. Secondly, though the loans are unsecured, there is no suitable guaranteed mechanism available for the sector. A sector suited guarantee scheme will go a long way in boosting the credit rating of microfinance institutions as well as their ability to expand to difficult areas."

08 Jan 2024, 03:13 PM IST Sensex Today Live: Nifty FMCG sinks as Q3 business update from sector players spooks investors

Nifty FMCG sinks as Q3 business update from sector players spooks investors. Dabur, Marico, Godrej Consumers fell 2.5-4% as they see single-digit volume in October-December.

08 Jan 2024, 02:58 PM IST Sensex Today Live: Adani Green plans to redeem $750 million bonds due September: Reuters

Adani Green Energy Ltd said on Monday it plans to redeem $750 million worth of notes due on 9 September, eight months before they mature. The company, part of billionaire Gautam-Adani's ports-to-power conglomerate, said it will pay $169 million from its reserves and internal accruals, and $300 million from the consideration from a joint venture with TotalEnergies Renewables.

08 Jan 2024, 02:44 PM IST Sensex Today Live: Bank's Earnings Preview by Gaurav Jani - Research Analyst, Prabhudas Lilladher

Banks under our coverage are expected to witness a weak quarter, as core earnings could fall by 7.3% QoQ to Rs463bn (vs +0.1% QoQ in Q2’24), mainly driven by reduction in NIM. Loan growth might come in at 3.8% QoQ (4.3% in Q2FY24), while deposit accretion could be +2.1% QoQ (3.9% last quarter). NIM contraction could moderate this quarter (vs Q2FY24) and we expect NIM to decline by 5bps QoQ (-16bps in Q2’24) to 3.62%. HDFCB, IIB and FB may see better NIM performance. Fees could grow by 3.1% QoQ to Rs333bn while opex may increase by 3.4% QoQ to Rs842bn (seasonality in case of PSU banks). Core PPoP may come in at Rs733bn (-0.4% QoQ). HDFCB, IIB and FB might do better on core PPoP. Led by KCC, gross slippage ratio might see a slight 3bps rise to 1.28% and we expect SBI, HDFCB, ICICIB, AXSB to report higher delinquencies. Banks’ PAT is expected to be Rs524bn (-8.7% QoQ). Among our coverage universe we prefer ICICIB and HDFCB.

§ System loan growth sustaining at 16%; uptick in deposit accretion: Credit for system (ex-HDFCL) in Nov’23 grew by +16.3% YoY mainly led by services (+21.9% YoY) and retail (+18.6% YoY). Services growth was attributable to NBFCs and trade while retail credit was led by housing, unsecured credit, vehicle loans and credit cards. Industrial credit growth remains muted (+6.1% YoY vs 5.4% YoY in Sep’23); peak was 13.6% in Oct’22. Momentum in agri continues (+18.2% YoY). Numbers suggest that system credit YTD could grow by 12% YoY in Dec’23, while we could see loan growth of 14-15% YoY in Mar’24. Coverage banks may see loan growth of 3.8% QoQ and 16.0% YoY, while deposit accretion could be 2.1% QoQ and 14.7% YoY. As at 15th Dec’23, system deposits grew by 13.3% YoY compared to 12.3% in Sep’23.

§ Margins to further decline; we see 5bps fall: Loan yields have peaked and are expected to stagnate post Q2, while deposit cost could further increase due to lag effect. Loan yields could improve QoQ by 2bps to 9.76% vs 10bps rise in cost of funds to 5.49%. Hence NIM may fall by 5bps QoQ to 3.62%; last quarter NIM fell by 16bps to 3.67%. As a result, NII might increase by 1.2% QoQ compared to +3.8% loan growth. Fee income could follow loan accretion; we see a 3.1% QoQ increase which would be offset by a 3.4% spike in opex to Rs842bn. Core PPoP would come in at Rs733bn, -7.4% YoY.

§ Slippages to rise but provision costs to remain benign: Since Q3 usually sees more delinquencies due to stress in agri (mainly large banks), slippages are expected to rise QoQ and we envisage a 3bps increase in slippage ratio to 1.28%. Recoveries and upgrades may remain healthy; hence GNPA ratio could reduce by 10bps QoQ to 2.14%. Provisions may remain benign at 41bps as banks would provide for ageing given high PCR and healthy recoveries.

§ Core profitability to fall QoQ: Core PAT for our coverage banks is expected to fall by 7.4% QoQ to Rs463bn mainly led by lower margins. HDFCB and IIB could be outliers on core profitability, due to better margins QoQ compared to peers. PAT is expected to be Rs524bn (-8.7% QoQ).

§ Large private banks could see loan growth of 4.5% QoQ and 18.4% YoY (vs ~16% YoY for the system). Deposit growth is expected to be 2.6% QoQ/17.3% YoY (last quarter 3.9%/18.4%). We see NII to increase by 2.1% QoQ and NIM to decline by 4bps to 4.18% (last quarter decline of 22bps). HDFCB could see better NIM QoQ as excess liquidity would be utilized, while deposit growth was also low leading to better LDR. Fees and opex would broadly mirror each other in terms of quarterly accretion. Core PPoP may come in at Rs506bn (+0.5% QoQ). Provision costs would largely remain stable QoQ at 53ps, while core PAT could dip by 3.9% QoQ to Rs334bn.

§ Public Sector Banks – Coverage PSU banks could see tad lower loan growth than private peers at 2.9% QoQ and 13.2% YoY, although NII may slightly blip QoQ. NIMs could decline by 6bps QoQ (last quarter -12bps) to 3.05%. Driven by lower NII growth, core PPoP may fall by 2.4% QoQ to Rs210bn. Asset quality may see a blip as slippages would rise due to KCC, while provisions may come in at 29bps. Core PAT is expected at Rs134bn (-6.1% QoQ).

§ Mid-cap Banks – Loan growth would be 3.2% QoQ (lower than large banks), while NII growth would be 2.0% QoQ. NIM might see a 6bps decline to 3.38%. Core PPoP at Rs16.4bn may fall by 1.6% QoQ. Asset quality could improve as slippage ratio might be stable QoQ at 1.6%, while GNPA should decline by 9bps QoQ to 2.7%. Core PAT may come in at Rs10.9bn (-6.2% QoQ).

Top Picks:

§ ICICI Bank – ICICIB remains the best performing bank due to earnings quality. Margins continue to outperform led by better liability management. Balance sheet is stronger than ever with CET-1 of ~17% and buffer provisions of 1.2% (best-in-class). Bank is currently trading at a 5% discount to HDFCB and given the medium term RoA profile, ICICIB should trade at a 7-10% premium to HDFCB. We maintain multiple at 3.0x (2.8x for HDFCB) on Sep’25 core ABV. Retain BUY with TP at Rs1,280.

§ HDFC Bank – Creation of excess liquidity affected Q2’24 NIM, although margins should bounce back in H2FY24E as credit growth picks up and liquidity is utilized. While core earnings growth would be muted for FY24E (6.3% YoY), as NIM and loan growth normalize core PAT may witness a 18.3% CAGR over FY24-26E. Basis core RoA at 1.74% for FY26E (ICICIB 1.94%) we maintain multiple at 2.8x (3.0x for ICICIB) on Sep’25 core ABV. Retain BUY with TP at Rs2,025.

08 Jan 2024, 02:30 PM IST Sensex Today Live: Small-caps lead inflows in India equity mutual funds in December: Amfi data

Inflows into India's equity mutual funds rose in December, driven by a sustained preference for small-caps, data from the Association of Mutual Funds in India (AMFI) showed on Monday.

Net equity mutual fund inflows rose to 169.97 billion rupees last month from 155.36 billion rupees in November, the data showed. (Reuters)

08 Jan 2024, 02:16 PM IST Sensex Today Live: Sula Vineyards skyrockets 17%, hits new high as CLSA upgrades stock to ‘buy’, revises target price

Brokerage firm CLSA has upgraded the rating on the stock to 'Buy' from an earlier rating of 'Neutral' and also lifted the target price to 863 apiece from a previous target price of 571 apiece, CNBV-TV18 reported.

08 Jan 2024, 02:02 PM IST Sensex Today Live: Indian stocks get first ETF in Gulf region as UAE deepens ties: Bloomberg

08 Jan 2024, 01:47 PM IST Sensex Today Live: Jinesh Joshi - Research Analyst, Prabhudas Lilladher on Media & Entertainment

Media: After a blockbuster 2QFY24, industry-wide BO collections declined 22% QoQ to ~Rs25.6bn in 3QFY24E. BO collections were weaker on sequential basis due to 1) high base 2) paucity of content in first 45 days and 3) cricket world cup. Accordingly, we expect PVR-Inox to report modest performance with footfalls of 36mn (~24.5% occupancy) and pre-IND AS EBITDA margin of 11.1%. On broadcasting side, ZEEL’s performance is likely to be impacted by continued weakness in ad-environment exacerbated by cricket world cup (shift of ad-spends from GEC towards sports). We expect domestic ad-revenues to decline 2.3% YoY to Rs9.9bn with an EBITDA margin of 10.1%.

Entertainment: Levy of GST on full bet value, persistent headwinds in Kiddopia & Ad-Tech business coupled with modest performance from Nodwin is likely to slow down the growth trajectory for Nazara. However, we expect EBITDA margin to improve to 14.6% due to better cost control. Post recent fund raise, Nazara has cash balance of Rs13.3bn and we believe capital allocation decisions from hereon will be key to re-rating.

Top pick: Despite the delay in merger, ZEEL remains our preferred pick in the media & entertainment space as we expect positive outcome from ongoing negotiations.

Multiplex: Industry wide BO collections stood at ~Rs25.6bn aided by 5 movies viz; LEO, Tiger-3, Animal, Dunki and Salaar that crossed Rs1bn mark during the quarter. In addition, there were movies like Fukrey-3 (NBOC of Rs959mn; released on 28th Sep and hence spill-over happened in 3QFY24), Bhagvanth Kesari (Rs847mn), 12th Fail (Rs538mn) and Sam Bahadur (Rs924mn) that have done well in this quarter.

However, there was paucity of content in first 45 days and accordingly we expect PVR-Inox to report footfalls of 36mn with pre- IND AS EBITDA margin of 11.1%. Given modest performance in 3QFY24; we cut our EBITDA estimates by 4.4% for FY24E and downgrade the stock to ACCUMULATE with a revised TP of Rs1,923 (14x Sep-25 EBITDA).

Broadcasting: We expect ZEEL to report 1.9% YoY fall in top-line to Rs20.7bn, with EBITDA margin of 10.1%. Weak ad-environment and high-base of subscription business (one-time catch up revenue in base quarter) is likely to restrict revenue growth. Though we cut our EPS estimates by ~3-4% over FY24E-FY26E amid slower than expected recovery in ad-revenues we maintain our ‘BUY’ rating on ZEEL with a revised TP of Rs330 (earlier Rs314) as we roll forward our valuation to Sep-25E.

Entertainment: Though we expect Nazara’s top-line to decline 1.1% YoY to Rs3,114mn due to growth challenges in Kiddopia, Ad-Tech and Real Money Gaming business we expect EBITDA margin to improve to 14.6% amid better cost control. We increase our EPS estimate by 2% in FY24E amid improvement in margin but cut our estimates by 5%/3% in FY25E/FY26E. Retain HOLD on the stock with a TP of Rs835.

08 Jan 2024, 01:39 PM IST Sensex Today Live: Are IT investors counting chickens before the eggs hatch?

The Nifty IT index ended 2023 with a good 24% return, driven by higher movement in December. Investor sentiment towards the sector revived with expectations for interest rate cuts by the US Federal Reserve in 2024 getting louder. While the street is looking at the bright side of the story, the optimism needs to result in higher deal conversions and, thus, better revenue growth. But it may help to keep hopes low, for now. (Read on)

08 Jan 2024, 01:26 PM IST Sensex Today Live: Stretched valuations could weigh on Indian stock market returns in 2024, cautions CLSA

The valuations of the Indian stock market seem not only stretched, but India has become the most expensive large market in the world, which may weigh on returns this year, cautions foreign brokerage firm CLSA.

In a report, CLSA noted that Indian equities started 2024 amid extreme bullish sentiment, with top-decile valuations and a record discount to debt yields. Notwithstanding India’s exciting long-term growth story and the prospect of a third term for the incumbent government at the Centre, this stretched starting point may weigh on returns this year.

08 Jan 2024, 01:15 PM IST Sensex Today Live: Indian airlines complete checks on Boeing 737 MAX: DGCA

Indian airlines have completed the precautionary checks on the Boeing 737 MAX fleet in India as part of a directive by Indian civil aviation regulator, the Directorate General of Civil Aviation said.

"As a precautionary measure, DGCA on 6 Jan directed all Indian operators with Boeing 737 Max 8 aircraft to check the operation and proper closing of all over wing emergency exits by 7 Jan. These checks have been satisfactorily performed on the fleet of operational fleet of Boeing B737-8 Max aircraft by Air India Express (4), SpiceJet (8) and Akasa Air (20)," the regulator said.

08 Jan 2024, 01:00 PM IST Sensex Today Live: Waaree Renewable Technologies stock hits new record high, zooms 50%; hits a new record high of ₹2,849 apiece in today's trade

08 Jan 2024, 12:47 PM IST Sensex Today | Share Market Live Updates: HDFC Bank, Reliance, ITC biggest contributors in the decline on Sensex

08 Jan 2024, 12:34 PM IST Sensex Today | Share Market Live Updates: Asia stocks dragged down by China share selloff

Asian stocks declined amid losses in Hong Kong and China amid concern over tighter regulation on the gaming industry and fears the Chinese government’s efforts to bolster the economy are insufficient. S&P 500 futures were little changed. Hong Kong’s Hang Seng Index fell 2.2%; China’s Shanghai Composite Index fell 1.2% and Australia’s S&P/ASX 200 Index fell 0.5%. Japanese markets were shut today.

08 Jan 2024, 12:29 PM IST Sensex Today | Share Market Live Updates: ACC acquires remaining 55% in Asian Concretes for ₹425.96 crore

ACC, a subsidiary of Adani-owned Ambuja Cements, on Monday announced the acquisition of the remaining 55% stake in Asian Concretes and Cements Private Limited (ACCPL) from its promoters for a consideration of 425.96 crore.

08 Jan 2024, 12:16 PM IST Sensex Today | Share Market Live Updates: Gold prices slip globally as dollar firms, focus on US inflation data

Gold prices fell on Monday as fading expectations of an early rate cut in the US kept the dollar and bond yields supported, ahead of a key inflation print due later this week.

Spot gold was down 0.7% to $2,030.49 per ounce, as of 0556 GMT. U.S. gold futures fell 0.6% to $2,037.00 per ounce.

08 Jan 2024, 12:03 PM IST Sensex Today | Share Market Live Noon Updates: Sensex at day's low, sinks 440 pts to 71,585.29; FMCG stocks slip most

08 Jan 2024, 11:48 AM IST Sensex Today | Share Market Live Updates: ONGC expects oil production to rise 11% after east coast block starts output

08 Jan 2024, 11:33 AM IST Sensex Today | Share Market Live Updates: GMR Airports Infrastructure jumps 4% to touch 52-week high 

The company stated that Delhi International Airports Limited (DAIL), a step-down subsidiary, has been exempted from paying the Monthly Annual Fee (or MAF) for the period of March 19, 2020, to February 28, 2022, after the arbitral tribunal passed its decision on January 6.

08 Jan 2024, 11:20 AM IST Sensex Today | Share Market Live Updates: Cement companies push the pedal on green energy

Cement manufacturers are increasingly adopting green energy by investing in wind and solar energy, and waste heat recovery systems (WHRS) to shrink their carbon footprint and reduce their energy costs. "While alternative fuels are increasingly used to replace coal/petcoke, full substitution is technically challenging as these organic materials have 20-25% lower calorific value than fossil fuels," said Miren Lodha, director, research, Crisil Market Intelligence & Analytics.

08 Jan 2024, 11:06 AM IST Sensex Today | Share Market Live Updates: Godrej Consumer Products slumps 5% as co expects mid-single-digit volume growth

The FMCG major said it is expecting a "mid-single digit volume growth" on a consolidated basis in the December quarter.

In the domestic business, GCPL's organic business delivered steady underlying volume growth of mid-single digits and its inorganic business as Park Avenue and KamaSutra reported a double-digit volume growth.

08 Jan 2024, 10:51 AM IST  Sensex Today | Share Market Live Updates: Narayana Hrudayalaya jumps 2% as wholly owned subsidiary has received approval from the IRDAI to launch health insurance business

Narayana Hrudayalaya: The company's wholly owned subsidiary has received approval from the Insurance Regulatory and Development Authority of India to launch a health insurance business in India. The company runs one of the largest hospital chains under the brand name of Narayana Hospital.

08 Jan 2024, 10:38 AM IST Sensex Today | Share Market Live Updates: DLF sells 1,113 luxury flats for ₹7,200 cr within 3 days in Gurugram new project

08 Jan 2024, 10:20 AM IST Sensex Today | Share Market Live Updates: Titan soars over 1.5% to an all-time high on healthy Q3 update

The company has registered a revenue growth of 22% in the December quarter. During the October-December period, it added 90 stores across verticals, taking the group's retail presence to 2,949 stores.

The jewellery division, which contributes over three-fourths of its revenue, reported a 21% growth in the domestic market. This was led by double-digit buyer growth and moderate improvement in average selling prices, it said.

08 Jan 2024, 10:14 AM IST Sensex Today | Share Market Live Updates: Marico shares plunge 4% as consolidated revenue in the December quarter declined in low single digits

The FMCP firm said its consolidated revenue in the December quarter declined in low single digits on a year-on-year basis, although operating profit saw a low double-digit growth. The maker of Parachute oil also said it expects a low single-digit jump in domestic volumes for the December quarter

08 Jan 2024, 09:52 AM IST Sensex Today | Share Market Live Updates: Nifty below 21,700; midcaps, smallcaps in the red; volatility index up 4.5%

08 Jan 2024, 09:48 AM IST Sensex Today | Share Market Live Updates: Dabur’s fortunes tied to rural recovery

Dabur India Ltd put up a dismal show on the bourses in 2023, falling by about 1% at a time when the sector index, Nifty FMCG, gained as much as 29%. Dabur said it saw sequential improvement in demand although growth in rural areas has lagged that in urban markets. “Unlike most consumer companies, Dabur witnessed a pick-up in rural demand, which should bode well in the coming quarters given its higher saliency in rural markets," said Nomura Financial Advisory and Securities (India) in a report on 4 January.

08 Jan 2024, 09:34 AM IST Sensex Today | Share Market Live Updates: Nifty gains marginally at open but above 21,700; BPCL, Eicher Motors top charts

Nifty gains marginally at open but is comfortably above the 21,700 level; BPCL, Eicher Motors top charts while Bajaj Financce, UPL slump

08 Jan 2024, 09:22 AM IST Sensex Today | Share Market Live Updates: Sensex gains 100 points in opening deals; Titan, L&T top gains

Sensex gains 100 points to 72,100 in opening deals; Titan, L&T, Tata Steel were the top gainers, while Infosys, Bajaj Finance were the main laggards

08 Jan 2024, 09:16 AM IST Sensex Today | Share Market Live Updates: Sensex, Nifty open flat with positive bias; Titan, JSW Steel in focus

08 Jan 2024, 09:13 AM IST Sensex Today | Share Market Live Updates: Rupee rises 5 paise to 83.10 against US dollar in early trade.

08 Jan 2024, 09:04 AM IST Sensex Today | Share Market Live Updates: Indices flat to higher in pre-opening session; Adani Wilmar, Federal Bank, JSW Steel in focus

08 Jan 2024, 08:56 AM IST Sensex Today | Share Market Live Updates: Key factors to note: FII data, F&O ban list

In the cash segment, FIIs bought shares worth 1,696.86 crore on Friday whereas they bought 485.32 crore worth of shares in the F&O index future segment. However, DIIs bought 26,024.54 crore worth of shares in the F&O index future segment on Friday while they sold out Indian shares worth 3,497.62 crore in the cash market.

Eleven shares have been put under the F&O ban on Monday. Those stocks are Balrampur Chini, Chambal Fertilisers, Delta Corp, Escorts, GNFC, IEX, India Cements, NALCO, SAIL, PEL, and ZEEL.

08 Jan 2024, 08:45 AM IST Sensex Today | Share Market Live Updates: Destination Asia for Adani's airport business

The Adani Group is looking to take its airports business global beginning with the Far East and Southeast Asia, a top executive aware of the development said. The expansion would   ld be part of the second phase of the airport plans of the group, which entered the sector in 2020. (Full report)

08 Jan 2024, 08:31 AM IST Sensex Today | Share Market Live Updates: Oil slips as higher OPEC supply, Saudi price cuts offset Mideast worries

In early trading on Monday, oil prices saw a decline due to significant price reductions by leading exporter Saudi Arabia and an increase in production from OPEC. This trend counterbalanced concerns over growing geopolitical unrest in the Middle East.

Brent crude saw a decrease of 9 cents, or 0.1%, bringing it to $78.67 per barrel. Similarly, U.S. West Texas Intermediate crude futures also dropped by 10 cents, or 0.1%, settling at $73.71 per barrel.

08 Jan 2024, 08:17 AM IST Sensex Today | Share Market Live Updates: Govt may increase tax rebate under the new personal income tax regime in interim budget

The interim budget on 1 February is likely to increase the tax rebate under the new personal income tax regime, two people close to the discussions said, giving relief for the middle class ahead of the approaching general elections.

08 Jan 2024, 08:04 AM IST Sensex Today | Share Market Live Updates: Dr Reddy's, Federal Bank, Titan, Adani Wilmar are the Stocks to Watch

Dr Reddy's, Federal Bank, Titan, Adani Wilmar, JSW Steel, Reliance, Bajaj Auto and Marico are among the stocks that could be in news on Monday.

08 Jan 2024, 07:49 AM IST Sensex Today | Share Market Live Updates: Earnings bet, bond index move lift FPI inflows to 9-year high at ₹2.68 trillion

Foreign portfolio investment net inflows into Indian equities and debt in 2023-24 have reached a nine-year high. At 2.68 trillion, this is just 9,625 crore away from 2014-15’s record net inflows of 2.77 trillion. In monthly average terms, foreign portfolio investors have invested net 29,780 crore in Indian equities and debt this fiscal. With three months left for the close of 2023-24, the final figure could set a new record for FPI. (Full report)

08 Jan 2024, 07:35 AM IST Sensex Today | Share Market Live Updates: Asian stocks in a range ahead of key data

Asian stock markets were in a narrow range on Monday as traders awaited inflation data this week from the US, Japan and China. A mixed jobs and activity data on Friday capped a downbeat start to the year. Japanese markets are shut today for a holiday.

South Korean shares rose at the open and Australian equities were marginally higher, while futures contracts in Hong Kong pointed to a flat start. US equity futures were little changed after the S&P 500 rose 0.2% on Friday following reports showing US job growth beat expectations but the service sector slowed.

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