Share Market News Today | Sensex, Nifty, Share Prices Highlights: Benchmark indices ended lower in the volatile session on Thursday, January 12. The BSE Sensex closed below 60,000 and NSE Nifty 50 below 17,900. The 30-share Sensex fell 147.47 pts or 0.25% to 59,958.03 and Nifty slipped 37.50 pts or 0.21% to 17,858.20. Divis Labs, Reliance Industries, BPCL, Axis Bank and Tata Motors were among the top lowers on the Nifty, while SBI Life Insurance, UltraTech Cement, Larsen and Toubro, HCL Technologies and Dr Reddy’s Laboratories were the gainers.
Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market Highlights
The BSE Sensex closed below 60,000 and NSE Nifty 50 below 17,900. The 30-share Sensex fell 147.47 pts or 0.25% to 59,958.03 and Nifty slipped 37.50 pts or 0.21% to 17,858.20.
Benchmark indices ended lower in the volatile session on January 12. Divis Labs, Reliance Industries, BPCL, Axis Bank and Tata Motors were among the top lowers on the Nifty, while SBI Life Insurance, UltraTech Cement, Larsen and Toubro, HCL Technologies and Dr Reddy’s Laboratories were the gainers.
Nifty FMCG index shed 0.5%, dragged by Varun Beverages, United Spirits, United Breweries
Paytm shares fall after 3% of equity or 1.92 crore shares change hands in a block trade. Around 2 crore shares (3.1% equity) worth Rs 1,126 crore change hands at an average of Rs 540 per share
-Morgan Stanley keeps Equal-weight rating, target at Rs 695 per share
-FY23 UPI incentive approved, is up more than 73% vs FY22
-Apart from banks, Paytm should be a key beneficiary of the above
-Paytm would have received 5-7% of FY22 incentive, assuming similar share in FY23
-This would represent 3-5% of our contribution to profit estimate
Paytm shares fell 8.8% to an intraday low of Rs 528.35 on Thursday after 2 crore shares exchanged hands in a single large trade, according to reports. The scrip was trading 5.75% down at Rs 546.15 in the mid-day session.
On the BSE Sensex, 96 stocks hit a 52-week high. 52 3PLAND, AARTECH, AAYUSH, ABIRAFN, ABVL, ACI, ADCON, ADVLIFE, AEPL and AFFORDABLE were among those that highs. Alternatively, GPG, AVEER, BIOCON, CARYSIL, CCCL, ELIN, ENIL, FSC, GAYATRIBI and GGENG hit 52-week lows.
On the NSE Nifty, 30 stocks rose to hit 52-week highs. 3P Land Holdings, Fourth Dimension Solutions, Archean Chemical Industries, Bombay Super Hybrid Seeds, CARE Ratings, CG Power and Industrial Solutions, Donear Industries, Foods & Inns, Generic Engineering Construction and Projects and GRP were among those that highs. On the flip side, 28 stocks fell to hit 52-week lows. Avonmore Capital & Management Services, Biocon, Carysil, Clariant Chemicals (India), Elin Electronics, Entertainment Network (India), Gland Pharma, Hubtown, Kfin Technologies and Laurus Labs were among these scrips.
Larsen & Toubro, HCL Tech, Ultra Tech Cement, SBI Life and JSW Steel were the top Nifty50 performers while Divis Lab, Axis Bank, Reliance Industries Ltd (RIL), BPCL and Hindalco were the top laggards.
Reliance Industries Ltd (RIL), Bajaj Finance, Bharti Airtel, ICICI Bank and Axis Bank are the most active equities of NSE Nifty.
Asian markets concluded Thursday’s session flat with a positive bias. China’s Shanghai composite index rose 1.61 points or 0.05% to close at 3,163.45, Japan’s Nikkei 225 rose 3.82 pts or 0.01% to 26,449.82, Taiwan’s FTSE TWSE 50 index rose 0.27 pts to 11,335.16 and South Korea’s KOSPI ended 5.57 pts or 0.24% ta 2,365.10.
NSE Nifty touched the day’s low and crossed the crucial level falling 97.75 pts or 0.55% to 17,797.95. The BSE Sensex dropped 364.28 or 0.61% to 59,741.22. Most of the broader market indices were trading in red with Bank Nifty falling over half a percent.
Sah Polymers shares witness a stellar debut on the stock exchanges as stock lists with 30% gains over the IPO price, supported by healthy subscription and better financial performance. Sah Polymers shares debuted at a price of Rs 85 on the National Stock Exchange (NSE) and jumped 5% to Rs 89 within minutes. The company’s Rs 66 crore IPO was subscribed 17.46 times, backed largely by retail investors and high-net-worth individuals. The company set the issue price at Rs 65 per share, the upper end of the band of Rs 61-65 per share offered.
China's annual consumer inflation rate accelerated in December, driven by rising food prices even as domestic demand wavered amid restrained economic activity. Economists expect inflation to continue to pick up in the first quarter of 2023. The consumer price index (CPI) in December was 1.8% higher than a year earlier, rising faster than the 1.6% annual gain seen in November, data from the National Bureau of Statistics (NBS) showed on Thursday. The annual rate fall in the producer price index (PPI) slowed in December to 0.7% from the 1.3% seen in the previous month.
Most of the broader market indices were trading in red with Nifty 100 falling 0.40%, Nifty Midcap 50 dropped 0.26%, Nifty Smallcap 50 dipped 0.19% and Nifty Total Market sank 0.24%.
Bank Nifty fell 274.45 pts or 0.65% to 41,958.25 in the intraday trade. AU Bank, Bank of Baroda, HDFC Bank and IDFC First Bank were the top gainers while Axis Bank, Kotak Bank, Bandhan Bank, PNB and ICICI Bank were the top losers.
“In India, FIIs continued their selling spree for the 14th straight session taking the cumulative selling to Rs 19795 crores, dragging the market down. An important lesson from market experience in 2022 is that despite FII selling of Rs 146048 crores Nifty went up by 4.3 %. Therefore, even though FII selling can have a short-term impact, that is unlikely to last. If incoming economic data turns out positive, domestic investors can trump FIIs like in 2022.” – V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
“The US inflation data expected tonight will be market moving. If the December inflation data declines to 6.5% as the market expects with a 0.1% decline on a monthly basis, that can lead to the Fed downshifting its rate hiking with a 25 bp hike in February and then pausing. This can trigger a rally in equity markets. On the other hand, if inflation remains high, there can be a market sell-off. So watch out for this crucial data.” – V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
The Sensex fell 167.95 pts or 0.28% to 59,937.55 and the Nifty 50 dropped 52.85 pts or 0.3% to 17,842.85.
Infosys shares fell 1% to Rs 1457.95 ahead of the Q3FY23 results announcement today. The company is likely to report a consolidated net profit jump of 10-14% on-year for the quarter ended 31 December 2022. The IT bellwether is expected to report 19-20% revenue growth for October-December, according to analysts. Brokerages believe that EBIT margins will fall on-year to 21-24%.
In the sectoral indices, Nifty Bank was up 0.10%, Nifty Auto rose 0.35%, Nifty IT was up 0.55%, Nifty PSU Bank was up 0.07% while Nifty Pharma was down 0.16%. The volatility index India VIX was up 0.22%.
HCL Tech shares rose 14.10 pts or 1.34% to 1068.90 ahead of the quarterly results announcement. According to analysts, consolidated revenue might come in at Rs around Rs 26,000 crore, registering 16% on-year (YoY) growth, while consolidated profit after tax (PAT) is expected to increase 10.6% on-year to around Rs 3,790 crore. Analysts are pegging earnings before interest and tax (EBIT) margin at 18.9% for the quarter. The total contract value is likely to be flat at around $2 billion.
The top gainers of the Nifty were HCL Tech, Coal India, Titan, Infosys and Wipro while BPCL, Asian Paint, Divis Lab, Tata Steel and Hindalco were the top losers.
The BSE Sensex rose 109.56 points or 0.18% to 60,215.06 and the NSE Nifty 50 rose 29.45 points or 0.16% to 17,925.15.
Indices concluded the pre-opening session on a mixed note. The BSE Sensex fell 22.47 points 0.04% to 60,083.03 while NSE Nifty rose 25.15 points 0.14% to 17,920.85.
“The Bank Nifty index witnessed a volatile trading session but managed to hold the immediate support level of 42,000. The index found support on the lower end at 41700, where strong buying was visible. The index is likely to remain volatile in the coming session, and a break below 41,700 will accelerate the move on the downside. The upper end of the intermediate resistance zone is seen at 42,350-42,400, and the short covering is expected towards the 42,700 level.” – Kunal Shah, Senior Technical Analyst at LKP Securities.
“Nifty remained range bound throughout the session. The market sentiment remains negative as the benchmark Nifty fell below the crucial short-term moving average (50 EMA). The daily RSI is in bearish crossover on the daily timeframe, suggesting sluggish momentum. Over the short term, the trend is likely to remain sideways or negative. On the higher end, resistance is visible at 18,000/18,250. On the lower end, support is visible at 17,800.” – Rupak De, Senior Technical Analyst at LKP Securities.
Overnight, the US stock market concluded in green. The Dow Jones Industrial Average (DJIA) rose 268.91 points or 0.80% to 33,973.01, S&P500 climbed 50.36 pts or 1.28% to 3,969.61 and the tech-heavy Nasdaq index advanced 189.04 pts or 1.76% to 10,931.67.
Infosys, HCL Technologies, Anand Rathi Wealth, Cyient, Den Networks, G G Engineering, GM Breweries, GTPL Hathway, and Plastiblends India will announce their quarterly earnings on 12 January.
The National Stock Exchange has put Indiabulls Housing Finance and GNFC stocks under its F&O ban list for 12 January. According to the NSE, the stocks mentioned above are prohibited in the F&O sector because they have exceeded 95% of the market-wide position limit (MWPL). During the F&O ban period, no new positions are permitted for F&O contracts in these stocks.
Foreign institutional investors (FII) net-sold shares worth Rs 3,208.15 crore, while domestic institutional investors (DII) net-bought shares worth Rs 2,430.62 crore on 11 January, according to the provisional data available on the NSE.