Share Market News Today | Sensex, Nifty, Share Prices Highlights: Indian equity benchmark indices ended Monday’s volatile session in green. After falling over 1% intraday, Nifty and Sensex recovered losses and broke the 2-day losing streak. The Bank Nifty tanked over 1000 points during the day but managed to close in the positive territory. The BSE Sensex rose 169.51 pts or 0.29% to 59,500.41 and NSE Nifty 50 advanced 44.60 pts or 0.25% to 17,648.95. The top gainers on the BSE were Bajaj Finance, UltraTech Cement, Bajaj Finserv, HCL Tech and Asian Paints while Power Grid, Larsen & Toubro, IndusInd Bank, Tata Steel and Hindustan Unilever (HUL) were the top laggards.
Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market News Highlights Monday January 30
Bank Nifty recovered 1000 pts from the day's low and ended in green on Monday. The banking index rose 42 pts or 0.10% settling at 40,387.45. The top gainers of the index were the Bank of Baroda, IDFC First Bank, ICICI Bank, Federal Bank and AU Bank while IndusInd Bank, Axis Bank, HDFC Bank, State Bank of India (SBI) and Punjab National Bank were the top losers.
The top gainers on the BSE were Bajaj Finance, UltraTech Cement, Bajaj Finserv, HCL Tech and Asian Paints while Power Grid, Larsen & Toubro, IndusInd Bank, Tata Steel and Hindustan Unilever (HUL) were the top laggards.
The BSE Sensex rose 169.51 pts or 0.29% to 59,500.41 and NSE Nifty 50 advanced 44.60 pts or 0.25% to 17,648.95.
Bank Nifty extended Friday’s losses and sank nearly 900 points or over 2%, trading below 39,500 in the intraday trade on Monday. The index has fallen 7% in the last three trading sessions, triggered by the red flags raised by the US short-seller on Adani group’s debt. The shares of the State Bank of India and Bank of Baroda lead losses, falling over 1%, dragging the banking index lower.
Bank Nifty recovered 1000 points from the day's low. The banking index was trading 86.90 pts or 0.22% higher to 40,432.20. IDFC First Bank, Bank of Baroda, Bandhan Bank, Federal Bank and ICICI Bank were the top gainers while IndusInd Bank, State Bank of India, Axis Bank, HDFC Bank and PNB were the top losers.
“The focus of the government in this budget could be on increasing development works in construction and infra space, development of new manufacturing capacities through PLI and similar schemes to create more jobs and promote existing manufacturing sector towards exports by aiding increasing cost competitiveness globally. In terms of sectors, construction-infra, manufacturing, materials in the medium term, should perform well along with banks.” – Narendra Solanki, Head Fundamental Research – Investment Services, Anand Rathi Shares & Stock Brokers
Nifty slipped below 17500, touching an intraday low of 17,446.25 while Sensex fell below 58,750, to the day's low of 58,706.85. The top losers of the BSE Sensex were IndusInd Bank, Power Grid, Hindustan Unilever, Larsen & Toubro and Tata Steel.
“Buy 1 lot of 17700 Put @ 330
Sell 1 lot of 17200 Put @ 180
Margin Required: Approx. Rs.35000
Net Premium Paid: 150 Points
Max Risk: 150 Points (Rs. 7,500/-) If Nifty moves higher
Max Reward: 350 Points (Rs. 17,500/-) If Nifty goes below 17200 zones
Risk : Reward: 1 : 2.35
This strategy can be used to hedge the downside move towards 17200 zones by paying the cost of 150 points which is 1% of the index.” – Motilal Oswal Financial Services Ltd.
“India VIX has seen a spurt in the last three trading sessions from 13.30 to 19 zones and hovering at the highest levels of the last 15 weeks. The surge in Volatility with a decline in prices ahead of the Union Budget suggests some sort of concern in the market. It is advised to hedge your existing long position by buying Protective Puts or initiate Bear Put Spread in Weekly or Monthly expiries. It is also advised to reduce the cost of position in delivery by writing higher strike Calls in selective F&O stocks (Covered Call) as the upside seems to be capped for time being.” – Motilal Oswal Financial Services Ltd.
“Nifty index has given a breakdown from its long consolidation of the last 20 trading sessions with a surge in the volatility index. It is facing sustained supply near its key moving averages and it started to form lower top – lower bottom in multiple time scale. It has broken previous month’s low along with the formation of a Bearish Engulfing pattern which has negative implication. Looking at the overall chart structure, a bounce could be sold as the recent trend got deteriorated after breaking key support of 17777-17850 zones. As of now till it doesn’t negate the structure of lower top – lower bottom, weakness could extend towards 17350 and 17200 zones while key resistances are shifting lower to 18000 marks.” – Motilal Oswal Financial Services ltd
Data Patterns (India), Heranba Industries, AGI Greenpac, Aegis Logistics, Emami Paper Mills, Ratnamani Metals & Tubes, 3P Land Holdings are the top volume gainers of the day on NSE. SBI, Bajaj Finance, ICICI Bank, Reliance Industries, Kotak Bank, Tata Motors are among the volume toppers on the BSE Sensex-30 index.
109 stocks including Pfizer, Dixon Technologies (India), Adani Transmission, Clean Science and Technology, Gland Pharma, Adani Green Energy, Indigo Paints, Central Depository Services (India), Neogen Chemicals, Jindal Poly Films, Matrimony.Com, Thyrocare Technologies, BSE, Kfin Technologies are at 52 week lows.
On the NSE Nifty, 24 stocks hit their 52 week highs including Fourth Dimension Solutions, Aarti Pharmalabs, Aegis Logistics, Bombay Super Hybrid Seeds, Hariom Pipe Industries, Sun Pharmaceutical Industries and Vinny Overseas among others.
On the flip side, 174 stocks fell to their 52 week lows. Shilpa Medicare, Spicejet, Star Health and Allied Insurance Company, Thyrocare Technologies, TV18 Broadcast, Pfizer, Relaxo Footwears, Neogen Chemicals, Mangalam Organics, Makers Laboratories, KFin Technologies, Indigo Paints, Hindusthan Urban Infrastructure, Adani Green Energy, Adani Transmission and others were among these scrips.
On the BSE Sensex, 74 stocks rose to hit fresh 52 week highs. Deco-Mica, Captain Pipes, Carborundum Universal, Aveer Foods, Aarti Pharmalabs, Abans Enterprises, Acrow India, Mrs. Bectors Food Specialities, Dynacons Systems & Solutions, Goyal Aluminiums, Hariom Pipe Industries, Indo Thai Securities, Heritage Foods, JSL Industries, Jupiter Wagons, K&R Rail Engineering, Mkventures Capital, Lotus Chocolate, Sera Investments & Finance India, Sun Pharmaceutical Industries, Supereme Industries, Vippy Spinpro and many others were among those to hit these highs.
On the NSE Nifty index, the top winners are Adani Enterprises, Bajaj Finance, Bajaj Finserv, Adani Ports and NTPC, with Bajaj Finance up 4.69%. The biggest laggards are Power Grid, Bajaj Auto, Hindustan Unilever, Hindalco, Tata Steel, with Power Grid down 3.28%.
Bajaj Finance shares rose over 4% to Rs 5,997.50 after the company clocked a 40% on-year growth in consolidated net profit at Rs 2,973 crore for the December FY23 quarter with loan losses and provisions falling 20% on-year to Rs 841 crore. Net interest income increased 24% on-year to Rs 7,435 crore and assets under management (AUM) grew by 27% to Rs 2.3 lakh crore.
Adani group shares fell up to 19% on Monday in the aftermath of the US-based forensic financial research firm Hindenburg Research report, which alleged accounting fraud, stock manipulation and improper use of offshore tax havens by the group. Aside from Adani Enterprises which jumped more than 7% to Rs 2.966 and Adani Ports which rose 4%, all other Adani group company shares were deep in the red.
The top gainers of the Nifty were Adani Enterprises, Adani Ports, Bajaj Finance, Bajaj Finserv and NTPC while Hindustan Unilever, SBI Life, Power Grid, HDFC and ICICI Bank were the top losers.
The NSE Nifty 50 fell 55.45 pts 0.31% to 17,548.90 and BSE Sensex slipped 531.62 0.90% to 58,799.28 in the opening trade on Monday.
Domestic equity indices end the pre-opening session in the red. The NSE Nifty 50 fell 62.40 pts or 0.35% to 17,541.95 and BSE Sensex slipped 229.21 pts or 0.39% to 59,101.69.
Foreign institutional investors (FII) sold shares worth a net Rs 5,977.86 crore while domestic institutional investors (DII) bought shares worth a net Rs 4,252.33 crore on Friday, January 27, 2023, according to the data available on NSE. For the month till January 29, FII sold shares worth a net Rs 29,232.29 crore while DII bought shares worth a net Rs 23,392.91 crore.
“Today the market will be completely dominated by the movements in Adani stocks. The statement from Adani Enterprises that the FPO is on schedule and that there is no change in the price band is hugely important. This can be interpreted as a reflection of the confidence of the management in the success of the FPO. It is important to understand that the stock has limited public float. So, the price crash on Friday happened mainly due to shorting Adani stocks in general and Adani Enterprises in particular. One possibility is a big short-squeeze in the stock. Huge volatility is in store in Adani stocks today. The sustained selling by FPIs in January with a massive sell figure of Rs 5,978 crores last Friday is a bit intriguing. Did the FPIs get wind of the storm blowing now? It is important to note that during the last 3 days, while Nifty declined by 3.2 %, Bank Nifty declined by 6.3% on concerns about the Adani crisis impacting the banks. The correction in high-quality private sector banks is a buying opportunity. Investors may wait for the dust to settle.” – V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
Ambuja Cements is the stock/security placed on the National Stock Exchange’s futures and options (F&O) ban for trade on Monday, January 30.
“Though recently there has been some net outflow in terms of FPI investment, foreign investors are still preferring the FPI route for their investments as India continues to be a preferred investment destination in terms of overall growth and stability. There has been overall development in the capital market like the stock exchanges moving to T+1 settlement, SEBI introducing information databases and repositories on Municipal Bonds. Similarly, the fiscal budget 2023 is likely to provide further acceleration for the foreign investment inflows as demonstrated by the Government in its previous budgets.” – Manoj Purohit, Partner & Leader – Financial Services Tax, BDO India.
The US equity market ended Friday’s session in green. The DOW Jones Industrial Average (DJIA) rose 28.67 pts or 0.08% at 33,978.08, S&P 500 climbed 10.13 pts or 0.25% to 4,070.56 and Nasdaq advanced 109.30 pts or 0.95% to 11,621.71.
Asian markets were trading mixed on Monday. China’s Shanghai Composite index rose 24.03 pts or 0.73% at 3,288.84, Japan’s Nikkei 225 rose 86.76 pts or 0.32% at 27,469.32 while Hong Kong’s Hang Seng fell 132.16 pts or 0.58% at 22,556.74 and South Korea’s KOSPI dropped 24.23 pts or 0.98% at 2,459.79.