Share Market Today LIVE | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market News Updates 5 January | The Financial Express

Share Market Highlights: Nifty below 18000, Sensex ends 300 pts lower, Bank Nifty down 350 pts; ICICI Bank drags

Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic indices NSE Nifty and BSE Sensex regained from day’s lows. Nifty reclaimed the 18,000 mark at close, gaining over 100 points from the day’s low.

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Bajaj Finance and Bajaj Finserv were Nifty 50's top laggards on Thursday.

Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic indices NSE Nifty and BSE Sensex regained from day’s lows, however still closed in the red. Nifty closed below the 18,000 mark but regained 100 points from the day’s low. Sensex added over 300 points from its intraday low to settle at 60,353, while Bank Nifty lost 350 points in today’s session. The broader markets closed mixed, as Nifty Next 50 settled 0.69% higher while Nifty 50 closed 0.28% down on the weekly F&O expiry. Sectorally, Nifty Auto and Nifty FMCG gained 1.16% and 1.55% but Nifty Financial Services shed 1.18% and Nifty IT ended 0.5% lower. Bajaj Finance and Bajaj Finserv were Nifty 50’s top laggards on Thursday.

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Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market News Live Updates 5 January

16:15 (IST) 5 Jan 2023
Market valuation stretch

'Valuations of Indian markets are still stretched when compared to other global indices and investors are steadily booking profit to trim their positions due to the challenging and uncertain global environment. Investors are guarded in their equity exposure, as rising interest rate regime and geo-political tensions are key hurdles that could trigger a major sell-off.’ – Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities

15:43 (IST) 5 Jan 2023
Currency Outlook

“The Indian rupee gains for a second day in trot supported by a weaker greenback and stronger regional peers. However, the gain was curtained amid foreign fund outflows and dollar biding by the state-run banks. The December FOMC minutes caused barely affected the FX market as nothing new came from the minutes. The rupee continues to the narrow range of 82.50 to 83.”

– Dilip Parmar, Research Analyst, HDFC Securities

15:36 (IST) 5 Jan 2023
Markets at close

Domestic indices NSE Nifty and BSE Sensex regained from day's lows. Nifty reclaimed the 18,000 mark at close, gaining over 100 points from the day's low. Sensex added over 300 points from its intraday low to settle at 60,353, while Bank Nifty lost 350 points in today's session.

15:19 (IST) 5 Jan 2023
Sensex, Nifty recover

Domestic indices NSE Nifty and BSE Sensex stage a recovery from day's lows. Nifty reclaims the 18,000 mark, gaining over 100 points from the day's low, while Sensex recovers 330 points to trade at 60,382.

15:08 (IST) 5 Jan 2023
Bank Nifty Technical View

“Bank Nifty has slipped below its 50-DMA, where 42200 is an immediate support while 41700 is the next important support level. On the upside, 42800–43000 is an immediate supply zone, while 43500–43600 is a key resistance zone.”

– Santosh Meena, Head of Research, Swastika Investmart

15:07 (IST) 5 Jan 2023
MCX gold trades lower

MCX Gold dropped 0.2%, despite FOMC minutes indicating a slowdown in rate hikes, to trade at 55,650.

14:49 (IST) 5 Jan 2023
Banks dominate profit delivery in Q2FY23

“Banks dominated profit delivery in Q2FY23. There was a concern that these profits are peak profits and that NIMs could decline going forward. Also, credit growth may not be sustainable in the face of falling deposit growth. However, now with deposit growth picking up, and with system liquidity improving, a higher growth rate can sustain for longer aided by a money multiplier. Most banks are comfortable with provisions and hence the NPAs are expected to not hurt. PSU banks could see a sharper increase in NIMs given their lending is linked to MCLR. NBFCs, where the share of fixed-rate loans is higher could benefit as the loan book gets re-priced.” – MOAMC

14:33 (IST) 5 Jan 2023
Markets extend losses

“Indian equity markets are witnessing sharp selling pressure, and the major reason behind this weakness is that FIIs' selling is back after a holiday period. Global cues are volatile, but we have underperformed for the last two days because FIIs are taking from the Indian markets while other markets are already beaten down. Recession is a key buzzword globally, and various news related to COVID is also causing volatility in the market. Stock and sector-specific moves, on the other hand, have continued ahead of the budget.”

– Santosh Meena, Head of Research, Swastika Investmart

14:08 (IST) 5 Jan 2023
Digital gold finding popularity

“According to a recent consumer data report by AxisMyIndia, Digital Gold is becoming a popular investment choice for consumers in Tier 1 and Tier 2 cities. The survey data also indicated that Gold is currently the most preferred investment category among Indians. Historical patterns show that diversifying investment portfolio through gold holdings is a good way to stabilise their portfolio. Gold is a valuable commodity to take into account in the time of global uncertainty.”

– Amul Kumar Saha, Chief Digital Officer, MMTC-PAMP

14:00 (IST) 5 Jan 2023
Bank Nifty falls 500 points

Banking stocks index Bank Nifty crashed 1.16% intraday, falling to 42,460, down by 500 points. Nifty Financial Services, Nifty PSU Bank and Nifty Private Bank are down in trade as well, with the financial services index losing 1.44%.

13:36 (IST) 5 Jan 2023
Sensex drops 550 points

BSE Sensex fell over 550 points intraday to trade at 60,104, down over 0.9% as the market sentiment dampens. ICICI Bank, Bajaj Finance and HDFC Bank are the index's top laggards.

13:29 (IST) 5 Jan 2023
Nifty gives up 17,900

NSE Nifty gave up the 17,900 level intraday as bears take over Dalal Street despite a hawkish Fed and positive global cues. Nifty 50 dropped 150 points to trade at 17,895, down 0.8%.

13:11 (IST) 5 Jan 2023
Nifty gainers, losers

On the NSE Nifty index, Britannia, Bajaj Auto, JSW Steel, BPCL and HDFC Life are the top winners, with Britannia up 1.70%. The biggest laggards are Bajaj Finance, Bajaj Finserv, ICICI Bank, Power Grid and Apollo Hospitals, with Bajaj Finance down 7.37%.

12:43 (IST) 5 Jan 2023
IT Sector overview

“IT stocks are at a crossroads. Valuations have declined appreciably, but yet appear to be fair, given the risk of demand slowdown. The saviors—(1) cost take-out deals and (2) margin tailwind from rupee depreciation—have not kicked in yet to the full extent. Declining growth and tepid TCV numbers do not paint a pretty picture. Margin improvement provides some solace. Even as revenue growth decelerates, we expect double-digit EPS growth in FY2024E. We believe the industry will face a tough 1HCY23 before green shoots kick in from 2HCY23. Infosys and HCLT are the best picks.” – KIE Report

12:34 (IST) 5 Jan 2023
Nifty Bank falls below 42,700

Nifty Bank fell 0.73% to 42,643.15 as the Nifty 50 slipped below the 18,000 level. The top losers of the Nifty Bank were ICICI Bank, AU Bank and Axis Bank while the gainers were Bank of Baroda, State Bank of India and Federal Bank.

12:19 (IST) 5 Jan 2023
Bajaj Finance shares fall over 8%

Bajaj Finance shares fell 8.2% to Rs 6032.25 in the intraday trade on Thursday after the company reported its quarterly update. The company’s customer franchise as of 31 December 2022 stood at 66.0 million as compared to 55.4 million in the same period previous year. The company recorded highest ever quarterly increase in its customer franchise of 3.1 million in Q3 FY23. New loans booked during Q3 FY23 stood at 7.8 million as compared to 7.4 million in Q3 FY22. Assets under management (AUM) grew by 27% to approximately Rs 230,850 crore as of 31 December 2022 as compared to Rs 181,250 crore as of 31 December 2021. AUM in Q3 FY23 grew by approximately Rs 12,500 crore.

11:59 (IST) 5 Jan 2023
Nifty trades lower

Nifty 50 gave up the 18,000 mark intraday as it fell 0.3% to 17,982.

11:40 (IST) 5 Jan 2023
SJVN rises

SJVN will make an investment of Rs 2,615 crore in a hydroelectric project in Himachal Pradesh. On completion of the project, the company will earn 16.50% return on the equity infusion. The investment will be 70% debt and 30% equity. The company's share price is trading 0.73% higher on the back of this announcement.

11:23 (IST) 5 Jan 2023
Specialty Chemicals 3QFY23 earnings preview

“3QFY23 earnings will likely be a mixed bag, with weak earnings from most of the crop-protection space as well as some others (SRF, Atul), but good results from companies that have certain specific growth drivers firing (PI, NFIL, CLEAN, VO). However, valuations for the top performers leave nothing on the table, in our view. Hence, amid weakening macros, we would maintain a watch for better entry points in the future.”

– KIE Report

10:43 (IST) 5 Jan 2023
Marico shares rise over 2%

Marico Ltd shares rose 2.32% to Rs 518 in the intraday trade. The company's consolidated revenue in Q3FY23 grew in the low single digits on an on-year basis. As there has been some semblance of stability in crucial input prices and consumer pricing across key franchises, gross and operating margins are expected to improve both on a sequential and on-year basis.

10:42 (IST) 5 Jan 2023
HPCL shares rise nearly 3%

Hindustan Petroleum Corporation Ltd (HPCL) shares rose 2.95% to Rs 248.10 on Thursday. The company informed bourses that it has forayed into the petrochemical business with pre-marketing of ‘HP Durapol’ brand of polymers, which is a precursor to the marketing of HPCL Rajasthan Refinery (HRRL) petrochemical products.

10:40 (IST) 5 Jan 2023
NSE bulk deals

Renu Pittie bought 1,10,000 shares of HP Adhesives Ltd (HPAL) at Rs 409.59 per share on Wednesday.

GKN Securities sold 7,88,139 shares of Radiant Cash Mgmt Ser Ltd (RADIANTCMS) at Rs 104.63 per share.

Pgim India Mutual Fund bought 3,07,000 shares of Somany Ceramics Ltd (SOMANYCERA) at Rs 499.03 per share.

Other major deals that took place on Wednesday

10:13 (IST) 5 Jan 2023
HUL gains

Hindustan Unilever Limited has completed the acquisition of 19.8% shareholding of Nutritionalab, for a total consideration of Rs 70 crore. The company's share price is up almost 1%, at Rs 2,560.

10:11 (IST) 5 Jan 2023
Derivative Outlook

“Nifty weekly contract has highest open interest at 19000 for Calls and 18000 for Puts while monthly contracts have highest open interest at 18200 for Calls and 18000 for Puts. Highest new OI addition was seen at 18200 for Calls and 17300 for Puts in weekly and at 18100 for Calls and 17900 for Puts in monthly contracts. FIIs increased their future index long position holdings by -9.31%, increased future index shorts by 30.33% and in index options by 8.63% in Call longs, 13.19% in Call short, 33.79% in Put longs and -3.08% in Put shorts.”

Anand James, Chief Market Strategist, Geojit Financial Services

09:46 (IST) 5 Jan 2023
Outright collapse less expected

“An outright collapse is less expected early today though. Favoured view expects renewed bargain hunting from the 18000 vicinity, but we would wait for a breach of 18150 to confirm strength.Alternatively, direct fall below 17960 will allow bears to continue dominance with nearest support seen at 17670.”

Anand James, Chief Market Strategist, Geojit Financial Services

09:32 (IST) 5 Jan 2023
Look at high quality banking stocks

“In India, the near-term challenge to the market comes from the sustained selling by FIIs who sold Rs 2620 crores equity in the cash market yesterday taking their selling spree to 9 consecutive days. FIIs are net short in the derivatives segment too. Data from the banking segment indicates continuing credit growth and improving asset quality which indicates good Q3 results. Investors can utilise market weakness to buy high quality banking stocks.”
Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services

09:27 (IST) 5 Jan 2023
FOMC Minutes Outlook

“Officials at the Fed's Dec. 13-14 policy meeting agreed the U.S. central bank should continue increasing the cost of credit to control the pace of price increases, but in a gradual way intended to limit the risks to economic growth. Traders in the federal funds futures market however expect the Fed to start reducing interest rates this summer. Fed officials also said that if markets start to ease financial conditions, especially if driven by a misperception of how the Fed was responding to the data that “would complicate” the FOMC’s effort to restore price stability. Traders currently price in a 70.7% likelihood of a 25 basis point hike to the Fed funds target rate at its next policy meeting, which concludes February 1.”

– Deepak Jasani, Head of Retail Research, HDFC Securities

09:18 (IST) 5 Jan 2023
Markets at open

Indian benchmark equity indices BSE Sensex and NSE Nifty open with mild gains. Nifty gained 0.07% to trade at 18,055, while Sensex gained 61 points, at 60,719.

09:10 (IST) 5 Jan 2023
Sensex, Nifty end pre-open with gains

Domestic indices BSE Sensex and NSE Nifty ended the morning's pre-open session with gains as global cues are positive and the Fed maintains its hawkish stance. Nifty closed 59 points higher at 18,101 while Sensex ended 190 points up at 60,847.

09:01 (IST) 5 Jan 2023
Market view

“Markets are expected to make a firm start on Thursday tracking positive global cues even as the US FOMC minutes showed no indication of going slow on rate hikes in the new year. Besides, local traders are taking the opportunity to book profit as concerns of higher valuations weigh while global macroeconomic concerns continue to remain a major worry. Domestic concerns can take solace from two positive catalysts; WTI oil prices tumbling 5% and the US 10-year bond yield declining to 3.71%.”

– Prashanth Tapse – Research Analyst, Senior VP (Research), Mehta Equities

08:50 (IST) 5 Jan 2023
Crude oil falls

Crude oil fell by more than 5% or $4 per barrel on Wednesday, posting the steepest percentage loss in the first two trading days of any year for over three decades, as investors worried about fuel demand as the global economy slows and Covid-19 cases grow in China. Brent futures settled at $77.84 a barrel, falling $4.26, or 5.2%. US crude settled at $72.84 a barrel, shedding $4.09, or 5.3%.

08:35 (IST) 5 Jan 2023
FII and DII data

Foreign institutional investors (FII) sold shares worth Rs 2,620.89 crore, while domestic institutional investors (DII) bought shares worth Rs 773.58 crore on January 4, as per provisional data available on the NSE.

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08:18 (IST) 5 Jan 2023
Stocks under F&O ban on NSE

The National Stock Exchange has not added any stock under its F&O ban list for 5 January. Securities thus banned under the F&O segment include companies where derivative contracts have crossed 95% of the market-wide position limit.

08:12 (IST) 5 Jan 2023
Technical levels to watch

“A long bear candle was formed on the daily chart that indicates downside breakout of the recent sideways range movement in the market. After the downside breakout of ascending trend line support on 23rd Dec, the market showed gradual pullback rally in the next 6-7 sessions and broken down from the highs on Wednesday from near the resistance of said up trend line.

The short term trend of Nifty seems to have reversed down after a small pull back rally. Further weakness from here could take Nifty down to the recent swing low of 17775 levels in the short term. Any pull back rally could find resistance around 18150 levels.”

Nagaraj Shetti, Technical Research Analyst, HDFC Securities

07:58 (IST) 5 Jan 2023
Fed minutes hawkish

Minutes of the Fed’s December policy meeting released overnight showed that while officials agreed that the central bank should slow the pace of its aggressive interest rate increases, they remained focused on curbing inflation, and were worried about any “misperception” in financial markets that their commitment was flagging, according Reuters.

07:58 (IST) 5 Jan 2023
Asian markets rise

Following the US markets’ cues, Asia-Pacific stocks also rose. Hong Kong’s Hang Seng rose 1.39%, while the Shanghai Composite and Japan’s Nikkei 225 gained 0.69% and 0.52% respectively.

07:58 (IST) 5 Jan 2023
Wall Street overnight

The hawkish US Fed rhetoric buoyed the global market’s sentiments as Wall Street ended with gains on Wednesday. The Dow Jones Industrial Average added 0.40%, while the Nasdaq Composite and S&P 500 closed 0.69% and 0.75% higher respectively.

First published on: 05-01-2023 at 07:57 IST