Market News Today | Sensex, Nifty, Share Prices Highlights: Indian benchmark indices ended flat on Friday after a choppy trading session. While Sensex snapped 4-day rally to end flat at 61,223, NSE Nifty hit a low of 18,120 in early deals but recouped losses to hit a high of 18,287 before eventually settling 2 points down at 18,256 level. Sectorally, IT, capital goods and realty indices rose 1 per cent each, while selling is seen in the auto, pharma, bank, FMCG sectors. The broader markets outperformed the benchmarks and ended higher. TCS, Infosys, L&T, Tech M, and HDFC Bank were the top gainers on the Sensex today while Asian Paints, Axis Bank, UPL, HUL, ONGC, M&M, and Nestle India were the top laggards.
Indian benchmark indices ended flat in the volatile session on Friday. Sensex closed 12.27 points or 0.02% down at 61,223.03, and the Nifty was down 2 points or 0.01% at 18,255.80. Among sectors, IT, capital goods and realty indices rose 1 per cent each, while selling is seen in the auto, pharma, bank, FMCG sectors. BSE midcap and smallcap indices ended in the green.
Tata Consultancy Services promoters – Tata Sons and Tata Investment Corporation Ltd (TICL) – intend to participate in the IT services major’s Rs 18,000 crore buyback offer by tendering shares worth about Rs 12,993.2 crore. On Wednesday, the TCS board approved an up to Rs 18,000 crore buyback offer entailing 4 crore shares at Rs 4,500 apiece.
The U.S. dollar fell for a fourth consecutive day on Friday to its lowest in over two months On Friday, the greenback slipped 0.2% to 94.62 against a basket of currencies, its lowest since early November. On a weekly basis, the Americal currency is set to weaken 1.11%, its biggest drop since December 2020. On Thursday, it fell below a 100 day moving average for the first time since June 2021.
The market is now showing a typical behavior which generally happens after a decent rally and if any major event is close by. Both these conditions meet here as we have seen a spectacular recovery of more than 1800 points in such a short span after making a low around 16400. And we are now approaching the mega event Budget, so we are seeing this range bound activity in the benchmark index. The next level to watch out for remains at 18350 and once its surpassed, there is no major level visible before 18600, said Sameet Chavan, Chief Analyst-Technical and Derivatives, Angel One Ltd.
Benchmark indices erased most on the intraday losses on Friday and were trading flat with Nifty back above 18200 supported by the capital goods and realty stocks. BSE Sensex was down 66.39 points or 0.11% at 61168.91, and the Nifty was down 14.30 points or 0.08% at 18243.50.
Shares of Motherson Sumi Systems fell 20 percent on the NSE on Friday as they traded exclusive of the value of the company's wiring harness business that will be demerged into a separate listed entity. Last year, the company had announced a restructuring of its business under which the promoter entity will be merged into the existing listed company and will be called Samvardhana Motherson, while the wiring harness business will be demerged.
The wholesale inflation across the country rose to 13.56 per cent in December. The wholesale price index (WPI) grew 14.23 per cent during the month of November, while the WPI for October was revised to 13.83 per cent from 12.54 per cent, according to the data released by the Ministry of Commerce & Industry. The WPI in December 2020 was at 1.95 per cent.
Aditya Birla Fashion & Retail board at its meeting held on Froday approved a proposal to acquire 51% stake in 'House of Masaba Lifestyle Private limited', the entity which houses apparel, non-apparel, beauty & personal care and accessories business under the brand 'Masaba' by way of entering into a Binding Term Sheet, as per the press release. Aditya Birla Fashion & Retail touched a 52-week high of Rs 312.95 and was quoting at Rs 310.50, up Rs 1.95, or 0.63% on the BSE.
Petrol and diesel prices remained unchanged for the 70th day in a row on Friday. This is the second-longest duration of paused prices since the daily rate revision was introduced in June 2017, as per the available data. Prior to that, there was an 82-day gap between March 17 and June 6, 2020. This comes as the central government cut excise duty on November 4, 2021 to give relief from prices that had touched an all-time high.
Shares of Paytm owner One97 Communications on Friday recovered losses after slipping below Rs 1,000 for the first time since listing. The stock, declining for the ninth consecutive session, hit a record low of Rs 995 a share in the opening but recovered losses soon to go over 2% higher. At 10 am, the scrip was trading at Rs 1,063.80 on the BSE, up 3.14% from its previous close.
Vodafone Idea, metal stock Steel Authority of India (SAIL) and Indiabulls Housing Finance continue to be under the F&O ban list today whereas RBL Bank, and Delta Corp, that were part of the ban in the previous sessions, are out of the list by the stock exchange for Friday. These stocks have been been put under the ban for trade on Friday under the futures and options (F&O) segment by the National Stock Exchange (NSE) as they have crossed 95% of the market-wide position limit. No fresh positions are allowed for any of the F&O contracts in that particular stock when it is under the F&O ban period.
Share price of Mindtree fell 6 per cent to Rs 4,477.25 on the BSE in Friday’s intra-day trade on profit booking on high valuation after the company reported a strong set of October-December quarter (Q3FY22) numbers both on revenue as well as margins front. At 09:37 am; Mindtree traded 4.5 per cent lower at Rs 4,529.50, as against a 0.28 per cent decline on the S&P BSE Sensex.
Indian rupee opened marginally lower at 74.04 per dollar on Friday against previous close of 73.88. US dollar declined 0.14% yesterday amid disappointing economic data from the US. US unemployment claims data showed number of people filling for jobless claims rose by 23,000 for the week ending January 8, 2021. Further, US producer price inflation slowed down as cost of goods fell, signalling inflation has probably peaked. Rupee future maturing on January 27 appreciated by 0.04% mainly on the back of weakness in dollar and rise in risk appetite in the domestic markets, said ICICI Direct.
HCL Technologies, Tinplate Company of India, Ashirwad Capital, Gujarat Hotels, Indokem, Infomedia Press, International Travel House, Onward Technologies, Refnol Resins & Chemicals, Space Incubatrics Technologies, Swasti Vinayaka Art And Heritage Corporation, HDFC Bank, Metro Brands, Datasoft Application Software, DCM Nouvelle, Richirich Inventures, Sacheta Metals, Shiva Global Agro Industries, Urja Global, and Vishwaraj Sugar
Benchmark indices were trading lower with Nifty around 18200 with selling witnessed in the IT, bank and realty stocks. The Sensex was down 236.22 points or 0.39% at 60999.08, and the Nifty was down 62.50 points or 0.34% at 18195.30.
On Thursday, the Nifty witnessed a volatile day where it made intraday low of 18197 before recovering and closing with a minor gain of 0.25%. In Nifty, 18200 Call and Put option witnessed sizeable OI addition, which indicates that the Nifty is likely to consolidate around current levels, said ICICI Securities.
Indian indices opened lower on Friday on the back of weak global cues. The BSE Sensex was down over 400 points at 60757, and the Nifty gave up 18,200, and was down 114.30 points or 0.63% at 18143.50. HDFC, HCL Tech, Asian Paints, Wipro and UPL were among the laggards in the Nifty pack, while Cipla, IOC, L&T, Titan Company and Divis Labs were the top gainers.
Benchmark Indices are expected to open on negative note as suggested by trends on SGX Nifty. US markets closed in red whereas European markets closed with minuscule gains. Asian markets are trading in negative terrain. On Thursday the market remained in positive territory but the pace was capped due to weak macro-economic data coupled with rising cases of coronavirus in the US. A little pause in this upswing can be expected as some minor correction can take place. The indices can witness some consolidation at these levels or can be faced with minor corrective fall which presents a good opportunity to deploy additional funds in good quality stocks, said Mohit Nigam, Head – PMS, Hem Securities.
Nifty index settled near the day’s top on Thursday after lackluster trading session where neither bulls nor bears were able to decisively move market in their direction, finally closed shop at 18257.80 levels, up 45 points. Nifty index is well placed and is seen heading towards 18500 levels in the near future, said Globe Capital Market Limited.
Benchmark indices are trading lower in the pre-opening session with Nifty below 18100. The Sensex was down 98.35 points or 0.16% at 61136.95, and the Nifty50 was down 162.50 points or 0.89% at 18095.30.
Setup of Nifty is suggesting that there can be a small pullback of 200-250 points if it breaks 18,210. Bank Nifty can see fresh weakness if 38,400 is broken, said Rahul Sharma, Director & Head – Research, JM Financial Services Limited.
Nifty finds support around 17950, while 18400 will act as resistance. Bank Nifty finds support around 38250 while 39150 will act as resistance on the upside, said IIFL Securities.
Markets have recovered sharply by more than 11% from its recent lows of 16,400 levels in just 20 days. Low impact of omicron variant and positive macro data points have helped improve the sentiments. However, valuations are no longer cheap and require strong earnings delivery for sustenance of positive movement in the market, said Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services Ltd.
The short term trend of Nifty continues to be positive. Emergence of high volatility and a formation of doji at the hurdle could be pointing towards the possible consolidation or minor weakness in the next few sessions. Any downward correction from the highs could find support at uptrend line around 18000 levels. However, a decisive move above 18272 is likely to negate the bearish setup for the near term, said Nagaraj Shetti, Technical Research Analyst, HDFC Securities.