Share Market Highlights: Sensex ends 91 pts higher, Nifty closes just shy of 14,600; IndusInd Bank, TCS top gainers

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Updated: January 14, 2021 4:23:53 pm

Share Market News Today | Sensex, Nifty, Share Prices Highlights: Broader markets mirrored the upmove on Thursday while volatility slipped marginally.

Share Market Today, Share Market LiveIndia VIX closed marginally lower on Thursday.

Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic equity benchmark indices closed win the green on Thursday, after recouping all intra-day losses. S&P BSE Sensex ended at 49,584 and Nifty 50 index closed just shy of 14,600.  IndusInd Bank, TCS, and L&T were the top gainers on Sensex at closing. Axis Bank and HCL Technologies were the top drags.  

Information Technology firm Infosys and Wipro on Wednesday reported their quarterly results. Both the IT firm announced strong revenue growth and a jump in profits, beating street estimates. Infosys said its revenue grew 5.5% sequentially to Rs 25,927 crore and net profits increased to Rs 5,197 crore, up 7.3% quarter-on-quarter. On the other hand, Wipro revenues during the October-December period stood at Rs 15,670 crore while net profit was at Rs 2,970 crore. Both the firms are even more optimistic about the future with strong deal pipelines.

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Highlights

    16:22 (IST)14 Jan 2021
    Sensex, Nifty surge from lows to end near day's high; charts suggest broader trading range ahead

    S&P BSE Sensex gained 91 points on Thursday while the 50-stock NSE Nifty closed just shy of 14,600. In yet another volatile trading session, Sensex jumped 402 points from intra-day lows. Among top gainers on Sensex were IndusInd Bank, TCS, and Larsen & Toubro. Broader markets mirrored the up-move and closed the day in the green. Among sectoral indices, only Nifty Realty, Media, Metal, and IT ended the day’s trade in red while others gained. Tata Motors, TCS, Adani Enterprises, Adani Ports, L&T, Gail among others were seen hitting fresh 52-week highs.

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    15:42 (IST)14 Jan 2021
    JP Morgan turns ‘Neutral’ on US equities after three years of ‘Overweight’ stance

    United States stock markets recovered strongly from March lows and shrugged pandemic fears to end 2020 with significant gains. While Dow Jones gained 67% between the end of March and December, S&P 500 jumped 70% in the same time period, and NASDAQ zoomed a massive 90%. After this stellar performance, global investment bank JP Morgan has now turned ‘Neutral’ on US Equities for the first time in three years. In a recent report, the global brokerage firm said that it was ‘Overweight’ on US equities post the 2017 reflation trade. It held that view throughout 2018, 2019 and 2020, but not anymore.

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    15:33 (IST)14 Jan 2021
    Closing Bell

    Sensex closed 91 points higher at 49,584 points on Thursday while the Nifty 50 index gained to close just shy of 14,600.

    15:20 (IST)14 Jan 2021
    Top Gainers

    Among the top gainers on Sensex just ahead of the closing bell on Monday are TCS and IndusInd Bank, both up more than 2% each. These are followed by Larsen & Tourbo, ITC, and Reliance. 

    15:17 (IST)14 Jan 2021
    With CPI at 15-month low, RBI would be at a little ease in their concern for inflation

    Though the fuel inflation index is negative 8.72% owing to the higher base of last year, on the month-on-month basis, it has gone up by whooping 3.2% owing to steep rise in prices of LPG, Petrol and Diesel. This was expected as India's crude oil basket jumped 15.0% in December 2020. Overall, with CPI too going down to a 15-month low of 4.59% in December 2020, (again owing to drop in food items and favorable base), the RBI would be at a little ease in their concern for inflation. But the worry can come from the spillover effect of higher fuel price on food and manufactured items. So, it needs to be seen whether the last quarter of FY2021 keeps giving us good news, at least on the inflation front which will determine further action by RBI on policy front,: Krupesh Thakkar, HoD - Financial Markets, ITM B-School

    15:17 (IST)14 Jan 2021
    With CPI at 15-month low, RBI would be at a little ease in their concern for inflation

    Though the fuel inflation index is negative 8.72% owing to the higher base of last year, on the month-on-month basis, it has gone up by whooping 3.2% owing to steep rise in prices of LPG, Petrol and Diesel. This was expected as India's crude oil basket jumped 15.0% in December 2020. Overall, with CPI too going down to a 15-month low of 4.59% in December 2020, (again owing to drop in food items and favorable base), the RBI would be at a little ease in their concern for inflation. But the worry can come from the spillover effect of higher fuel price on food and manufactured items. So, it needs to be seen whether the last quarter of FY2021 keeps giving us good news, at least on the inflation front which will determine further action by RBI on policy front,: Krupesh Thakkar, HoD - Financial Markets, ITM B-School

    15:02 (IST)14 Jan 2021
    Nifty Smallcap 50 up in green, Midcap 50 down in red

    Nifty Smallcap 50 index was up in green, gaining 0.39% mirroring the benchmark index. However, Nidty Midcap 50 was trading flat with negative bias. 

    14:12 (IST)14 Jan 2021
    Top gainers

    IndusInd Bank, TCS, and Larsen & Toubro were the top index gainers at this hour. S&P BSE Senses was trading 100 points higher. 

    13:36 (IST)14 Jan 2021
    Here’s what HDFC, ICICI, SBI MF bought, sold in December; Mutual Funds continue to record outflows

    In the month of December, mutual funds were again net sellers of domestic securities. In the last month of the previous decade, open-ended equity-oriented mutual fund schemes saw net outflows of Rs 10,000 crore with maximum outflows coming from Largecap funds. AMFI data showed that all equity-oriented schemes, except dividend yield funds and sectoral/thematic funds, saw net outflows. However, despite being net sellers of stocks, mutual funds did tweak their portfolios ahead of the new year and a new decade even as domestic markets surged to all-time highs with expensive valuations. 

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    13:32 (IST)14 Jan 2021
    Revival in Real Estate

    "Over the last six months, residential real estate has witnessed a strong recovery wherein almost all top cities are clocking record sales as compared to previous years. Customers and investors who had stayed away from residential real estate over the last 4 to 5 years are returning to the sector," said Sharad Mittal, Director and CEO of Motilal Oswal Real Estate. "In our opinion, the upcoming budget should focus on the revival of demand for real estate. One of the key measures that can be introduced to boost end-user demand would be to increase eligibility limits on home values for affordable housing benefits from the current Rs. 45 lakh to Rs. 60 lakh – this would expand benefits of affordable housing scheme to more homes. Till 2017, the entire loss from deemed let out properties (second homes and thereafter) could be adjusted with income from all sources. This incentivized several individuals to invest in real estate from a tax planning perspective. Restricting this limit to Rs. 2 lakh in the 2017 Budget created a drop in investor demand. Removing this limit in the upcoming Budget would go a long way in bringing back lost investor demand," he added.

    13:13 (IST)14 Jan 2021
    Buy L&T Finance Holdings~ Angel Broking

    L&T finance holdings is one of the leading NBFC in India with a strong presence across various segments including MFI, Housing, two wheeler, tractor and wholesale segment.The rural and the housing segment account for 56.5% of the company’s AUM at the end of Q2FY21 as compared to 51.5% in FY19. We expect disbursements to improve further in 2HFY21 and expect the company to post strong sequential loan growth from Q3FY21

    Target price: Rs 133 

    ~ Angel Broking

    13:00 (IST)14 Jan 2021
    Fall in WPI is a good sign

    The fall in WPI is a good sign however what needs to come down in retail inflation. The recent upward move in Crude prices can be a potential dampener. Also, on the back of banks still recovering from high NPAs, it remains to be seen if the RBI will continue to hold interest rates. Given the weak transmission, we continue to see high liquidity but low credit offtake due to poor consumer demand. Hence, once the pent up demand is exhausted, it will be critical to ensure demand upswing to see the real benefit of moderate inflation: Sanjay Kumar, CEO & MD, Elior India

    13:00 (IST)14 Jan 2021
    Fall in WPI a good sign

    “The fall in WPI is a good sign however what needs to come down in retail inflation. The recent upward move in Crude prices can be a potential dampener. Also, on the back of banks still recovering from high NPAs, it remains to be seen if the RBI will continue to hold interest rates. Given the weak transmission, we continue to see high liquidity but low credit offtake due to poor consumer demand. Hence, once the pent up demand is exhausted, it will be critical to ensure demand upswing to see the real benefit of moderate inflation," said Sanjay Kumar, CEO & MD, Elior India.

    12:36 (IST)14 Jan 2021
    India’s medium-term growth to slow to around 6.5% after initial rebound: Fitch

    The Indian economy will suffer lasting damage from the coronavirus crisis and after an initial strong rebound in FY22 (fiscal year ending March 2022) growth will slow to around 6.5 per cent a year over FY23-FY26, Fitch Ratings said on Thursday. “A combination of supply-side scarring and demand-side constraints – such as the weak state of the financial sector – will keep the level of GDP well below its pre-pandemic path,” it said in commentary on the Indian economy.

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    11:52 (IST)14 Jan 2021
    Buy these two stocks for gains in coming weeks while Nifty maintains its uptrend

    Markets have been continuously moving higher over the last few sessions and making new life highs in the process. Buying has emerged on any intraday dips, thereby ensuring the uptrend remains intact. The short term uptrend is however beginning to look stretched. While the Nifty/Sensex could move up further in the very near term, we believe that these main indices could make a short term top soon. Zooming into the intraday charts of the Nifty, we can see that the index may be forming a head and shoulder pattern.

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    11:37 (IST)14 Jan 2021
    Profiteering or Profitability? What domestic steel industry wants from price hike

    Steel pricing continues to occupy a centrepiece in the media for the last few weeks. A variety of responses and feedback from end-using sectors, policy planners, industry associations are filling up the pages. It is difficult to take a dispassionate view on the issue from the producers’ or users’ points of view. Let us look at some of the facts.

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    11:04 (IST)14 Jan 2021
    Buy RIL, Bharti Airtel: CLSA sees up to 26% rally in these stocks; check growth outlook 2021, target prices

    Indian share market benchmarks BSE Sensex and Nifty 50 were trading with minor cuts on Thursday, primarily dragged down by sell-off in IT stocks. Index heavyweight Reliance Industries Ltd (RIL) stock was trading over half a per cent higher, capping the losses in the index. While Bharti Airtel shares were trading flat in today’s weak session. Research and brokerage firm CLSA is bullish on RIL and Bharti Airtel stocks with outperform and buy rating, respectively.

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    10:29 (IST)14 Jan 2021
    Top gainers

    IndusInd Bank, ITC and Larsen & Toubro were the top gainers on Sensex after over an hour of trading. The index was down 150 points.

    09:55 (IST)14 Jan 2021
    14,300-14,400 to act as good support for Nifty

    "There is a clear indication that markets have resisted from the 14600-14650 levels. In the short term, 14300-14400 is good support and if we break that, 14000-14100 could be the next pit stop for the Nifty. On the upside, a close above 14600 could lead us to 14750-14800," said Manish Hathiramani, Proprietary Index Trader and Technical Analyst, Deen Dayal Investments.

    09:49 (IST)14 Jan 2021
    SAIL down 9%

    Shares of SAIL were down 9% on Thursday after the government announced it will trim its stake in the firm through an OFS at a floor price of Rs 64 per share. 

    09:41 (IST)14 Jan 2021
    USD-INR likely to hold strongly above 72.95-73.00 support

    Technically, the USDINR pair is expected to hold strongly above 72.95-73.00 support, while, upside is capped at 73.50 levels. The squeeze down in the volatility suggests impending higher movement. It will be interesting to watch where USDINR pair gives a breakout. Here, importers are advised to move forward and cover until Mid-February exposure to sit safe ahead of Budget. Exporters can participate on upticks close to 73.40 levels and above for their near term exposures: Amit Pabari, managing director, CR Forex Advisors

    09:18 (IST)14 Jan 2021
    Opening Bell

    Sensex and Nifty were trading in the red on Thursday's opening bell. Broader markets were, however, outperforming the benchmark indices. 

    09:09 (IST)14 Jan 2021
    Sensex, Nifty slip in pre-open

    Sensex slipped 58 points while Nifty 50 moved 14 points lower during the pre-open session on Thursday. Nifty was still holding 14,550. 

    09:05 (IST)14 Jan 2021
    Sensex slips into red

    During the pre-open session on Thursday morning, Sensex moved into the red, falling nearly 10 points while the Nifty 50 index was trading flat to positive. 

    09:04 (IST)14 Jan 2021
    Nifty Future outlook by ICICI Direct

    The Nifty is expected to trade between 14200 and 14600 amid high volatility. Sell Nifty 14600 Call (January 14 expiry) inthe range of Rs 38-40 Target: Rs 24-14 Stop loss : Rs 54.

    09:03 (IST)14 Jan 2021
    Nifty regains 14,600

    Nifty 50 regained 14,600 during Thursday's pre-open session. Sensex was trading flat with a positive bias.

    08:50 (IST)14 Jan 2021
    Nifty 50 may make another fresh record-high on Thursday; 5 things to know before opening bell

    Nifty futures were trading at 14,592.50 levels, up 20 points or 0.14 per cent up on Sinpaorean Exchange, hinting at a positive opening for BSE Sensex and Nifty 50 on Thursday. In the previous session, Nifty 50 index ended at record high closing level. Investors will continue to track October-December quarter earnings for stock-specific development. Market analysts believe that even though, the market witnessed higher level weakness on Wednesday, still there is no indication of reversal pattern forming at the new highs. Nagaraj Shetti, Technical Research Analyst, HDFC Securities said that there is a possibility of further upmove in the Nifty 50 index amid a range movement in the next one-two sessions.

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    08:30 (IST)14 Jan 2021
    Call and Put option data

    For the January series, maximum Call Open Interest (OI) is placed at 15000 strike with 23.13 lakh contracts. This is followed by 15.17 lakh contracts at 14000 strike. 

    Maximum Put OI is at 14000 strike with 30.36 lakh contracts, followed by 24.89 lakh contracts at 13000 strike

    08:27 (IST)14 Jan 2021
    Stocks in focus: Infosys, Wipro, Coal India, SAIL, IndusInd Bank, Reliance Industrial Infrastructure

    BSE Sensex and Nifty 50 are poised to open in the green on Thursday, as indicated by the trends in SGX Nifty. Nifty futures were trading 22.50 points or 0.15 per cent up at 14,595 on Singaporean Exchange. Even as Nifty 50 ended flat Wednesday but at a record high, taking the valuation to an all-time high of 39.94. Markets may hit fresh record highs in today’s session on the back of strong corporate earnings.

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    08:18 (IST)14 Jan 2021
    Global market update

    "Despite the political rancour that has vexed market sentiment in recent days, US stocks edged higher overnight as investors are willing to look past the political big uglies to sunny days ahead. Expectations are building for additional and perhaps larger fiscal stimulus efforts as pandemic priorities remain the first order of business for the Biden administration," said Stephen Innes, Chief Global Market Strategist at Axi.

    08:07 (IST)14 Jan 2021
    No signs of reversal

    "A long negative candle was formed with lower shadow on the daily chart. Though this pattern indicates high volatility in the market, still there is no formation of any reversal in Nifty at the highs. Hence, one may expect further upmove with range move in the coming sessions. The overall market breadth has turned negative, with Advance: Decline ratio closing at 634:1258 and neutral at 82. Though, the market witnessed higher level weakness on Wednesday, still there is no indication of reversal pattern forming at the new highs. Hence, there is a possibility of further upmove amidst a range movement in the next 1-2 sessions. Upper levels of 14655 is going to be a short term resistance and lower 14450 is expected to be an immediate support for the market," said Nagaraj Shetti, Technical Research  Analyst, HDFC Securities.

    08:01 (IST)14 Jan 2021
    SGX Nifty gains

    Nifty Futures on Singapore exchange were trading with gains during the early hours of Thursday. SGX Nifty was up 24 points, hinting at a positive start for Nifty, Sensex.

    08:00 (IST)14 Jan 2021
    Wipro reports strong numbers in December quarter

    Wipro on Wednesday posted a strong set of numbers for the October-December quarter. The company’s revenues during the period stood at Rs 15,670 crore while net profit was at Rs 2,970 crore. Operating margin expanded sequentially by 243 bps to 21.7%, a significant growth in the last 22 quarters. The company surpassed all market estimations and gave a revenue guidance of 1.5%-3.5% for the January-March quarter.

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    07:59 (IST)14 Jan 2021
    Strong Q3 numbers: Infosys raises revenue guidance for 2020-21

    Infosys on Wednesday upped revenue guidance for 2020-21, saying it could increase by 4.5-5.5% in constant currency terms, better than the 2-3% projected earlier. The optimism stemmed from a strong Q3FY21 numbers in which revenues rose 5.5% sequentially to Rs 25,927 crore and net profits increased to Rs 5,197 crore, up 7.3% quarter-on-quarter. The IT major’s operating profit margins came in at a robust 25.4%.

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