Market HIGHLIGHTS: Sensex gives up 50k, tumbles 560 pts from record high; HDFC twins, TCS, Bharti Airtel drag

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Updated: January 21, 2021 4:20:56 pm

Share Market News Today | Sensex, Nifty, Share Prices HIGHLIGHTS: Domestic equity market benchmarks BSE Sensex and Nifty 50 ended in the negative territory on Thursday

Share Market Today, Share Market LiveIn 2021, HSBC sees export demand, benign regulatory outlook, and tailwinds from coronavirus vaccines to help domestic pharma stocks.

Share Market News Today | Sensex, Nifty, Share Prices HIGHLIGHTS: Domestic equity market benchmarks BSE Sensex and Nifty 50 erased all the gains made during the day and ended in the negative territory on Thursday amid reports of a fire in the Serum Institute of India plant in Pune. BSE Sensex tumbled 560 points from the record high to end at 49,625, while the broader Nifty breacxhed 14,600 on the downside and settled at 14590. Index heavyweights that dragged the markets were HDFC Bank, Housing Development Finance Corporation, Bharti Airtel, Tata Consultancy Services and ITC, among others. While Bajaj Finance, Bajaj-Auto, Reliance Industries Ltd (RIL), Bajaj Finserv, Asian Paints, Hindustan Unilever Ltd (HUL) and ICICI Bank, among others, ended the day in the green. All the Nifty sectoral indices settled in the red with Nifty PSU Bank, Nifty Realty and Nifty Metal indices down between 2 per cent and 3.5 per cent on the NSE. Moreover, the market capitalisation of the BSE slipped to Rs 196.6 lakh crore after hitting record high of Rs 199 lakh crore earlier in the day.

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Highlights

    15:56 (IST)21 Jan 2021
    Sensex touches 50,000 but faces immediate pullback; are bears catching up now?

    S&P BSE Sensex zoomed past 50,000 points on Thursday for the first time since its inception. The move is remarkable considering the March 2020 sell-off which saw the index tank to as low as 25,638. What makes the rally in domestic equity markets even more remarkable is the rapid move charted by the index, adding the last 10,000 points in less than 100 days after it fell to 40,000 at the end of October. The Nifty too was seen mirroring the up-move, reaching new highs as it breached 14,700. However, both Sensex and Nifty ended the day with a negative bias. Many analysts have now been warning of stretched valuations and the milestone Sensex reached today and the immediate weakness augments their warning calls.

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    15:37 (IST)21 Jan 2021
    Sensex, Nifty fall from record highs, end in red

    BSE Sensex tumbled 560 points from the record high to end at 49,625, while the broader Nifty breached 14,600 on the downside and settled at 14590

    15:14 (IST)21 Jan 2021
    If 14718 broken on daily closing basis, Nifty may cross 15000 very soon

    Nifty has witnessed resistance around monthly R2 pivot level 14718. Now one may see sideways consolidation in Nifty from 14350 to 14718 zone. If 14718 broken on a daily closing basis Nifty may cross 15000 levels very soon. Even it will be ready for R3 15412. On the other hand, sell-off may get trigger only below 14350.: Vishal Wagh, Head of Research, Bonanza Portfolio Ltd

    15:04 (IST)21 Jan 2021
    We’ve entered super-cycle for Indian equities

    The Sensex has hit 50,000 on the strength of faster than anticipated recovery in economic activity, FPI flows into our market and heightened hope from the upcoming Budget, promised to be “like never before” by the Finance Minister. We’ve entered a super-cycle for Indian equities, like we had seen in the year 2003. We see high possibility of decisive reforms from the government, accelerated earnings growth and a continued liquidity flow chasing growth, in a period of weakening US Dollar. I expect Sensex to surpass 100,000 figure by 2025. A fresh upcycle has resumed for small and midcaps as well, after a long consolidation in 2018, 2019 and large part of 2020: Amar Ambani, Senior President & Institutional Research Head, YES Securities

    14:19 (IST)21 Jan 2021
    RIL shares jump 3%, Future Retail, Future Enterprises hit upper circuit post SEBI nod on RIL-Future deal

    Reliance Industries Ltd (RIL) share price surged over 3 per cent to Rs 2,119.80 apiece in a strong trade on BSE today. While shares of Future Retail Ltd and Future Enterprises Ltd hit their respective 5 per cent upper circuit of Rs 81.35 apiece and Rs 12.01 apiece, respectively. This surge in share prices was seen after the capital market regulator SEBI approved the Future Group’s proposed multi-billion dollar deal with RIL.

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    14:18 (IST)21 Jan 2021
    US financial services stocks to buy: As tech becomes next big theme, Credit Suisse bets on these scrips

    Technological advancement has already been a big theme on Wall Street and the rise of FAANG stock has not gone unnoticed. Financial services industry in the United States is evolving with the technological revolution being ushered in by asset managers. Money managers are using technology to enhance competition, automate core financial functions, increase transparency, and personalise client experience, according to a recent report by Credit Suisse.

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    12:44 (IST)21 Jan 2021
    Sensex annualised shareholder return now at 14.9% since inception

    “Economic recovery in India getting a firmer toehold across multiple sectors, rising vaccination hopes and benign global liquidity have meant a continuation of the market rally. While the focus will now be on earnings performance and the upcoming budget, the Sensex crossing the 50,000 mark does remind you of the power of long-term investing - an annualised total shareholder return of 14.9% since the index’s inception in 1986," said Nitin Sharma, Director Research, Fidelity International.

    12:11 (IST)21 Jan 2021
    Buzz around upcoming Budget also added strength to markets

    Sensex touched the historical levels of 50,000 today for the first time ever. Indian markets have been witnessing strong momentum over the past few months on the hopes of a faster economic recovery after the pandemic lockdown. Also positive global cues, sustained FII inflows and strong corporate earnings kept the sentiments high.  Buzz around the upcoming Budget has also added strength to the markets. The Budget could potentially lay the foundation for a long term economic growth path. Overall we expect the market to continue its upward journey on the back of healthy corporate earnings, strong liquidity, positive developments on the vaccine front, broad based economic recovery and low interest rates.: Motilal Oswal, MD & CEO, Motilal Oswal Financial Services Ltd

    11:40 (IST)21 Jan 2021
    CLSA bets on insurance sector as valuations near pre-COVID level; sees up to 33% rally in these stocks

    With the recovery in the post-pandemic world and valuations nearing pre-COVID level, foreign brokerage firm CLSA is bullish on the insurance sector. Insurance sector valuations have mean-reverted and are now trading either close to pre-Covid-19 levels or in some cases higher than pre-Covid-19 levels. Since September 2020, private life insurers have recovered well from the pandemic with positive APE growth. 

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    11:32 (IST)21 Jan 2021
    Sensex at 50,000 similar to Indian cricket team's win in Australia

    “Sensex touching 50000 in 2021 is like Indian cricket team winning test series in Australia against all odds of Covid 19. While economic data is about the past which is improving month on month, Sensex is reflecting the positivity about the future," said Nilesh Shah, Group President & MD, Kotak Mahindra Asset Management Company.

    11:27 (IST)21 Jan 2021
    Bernstein goes bullish on Bajaj Finance, upgrades to ‘outperform’, sees massive 45% upside potential

    Bajaj Finance shares surged 3% to hit a high of Rs 5,168 per share on Thursday morning, making it once of the top Sensex gainers. The stock jumped as investors reacted to the strong on-quarter growth in net profit that the firm reported on Wednesday. Consolidated total income of Bajaj Finance in the fiscal third quarter surged to Rs 1,146 crore. The strong performance hints at a recovery being staged by Bajaj Finance. With this, global brokerage and research firm Bernstein has turned bullish on the stock upgrading the target price and its rating of the stock.

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    11:18 (IST)21 Jan 2021
    Sensex is reflecting the positivity about future: Nilesh Shah, Kotak AMC

    Sensex touching 50000 in 2021 is like Indian cricket team winning test series in Australia against all odds of Covid 19. While economic data is about the past which is improving month on month, Sensex is reflecting the positivity about the future.: Nilesh Shah, Group President & MD, Kotak Mahindra Asset Management Company

    11:17 (IST)21 Jan 2021
    Sensex hitting 50,000 a positive for economy

    "It is a fantastic day for the Indian markets, with the Sensex touching a new high. It's a positive sign for the economy, which is seeing broad based recovery and an increase in foreign investment. The Sensex crossing the 50K mark highlights equities as a critical component in an investment portfolio and underscores its importance in long term wealth creation," said Ravi Kumar, Co-founder and CEO, Upstox.

    11:17 (IST)21 Jan 2021
    Sensex hitting 50,000 a positive for economy

    "It is a fantastic day for the Indian markets, with the Sensex touching a new high. It's a positive sign for the economy, which is seeing broad based recovery and an increase in foreign investment. The Sensex crossing the 50K mark highlights equities as a critical component in an investment portfolio and underscores its importance in long term wealth creation," said Ravi Kumar, Co-founder and CEO, Upstox.

    10:42 (IST)21 Jan 2021
    Markets to remain volatile ahead of Union Budget'21

    Strong global markets helped the BSE Sensex hit the magical 50000 mark in the early morning trades on Thursday. The BSE Sensex index open at a record high of 50096.57 to further hit an all-time high of 50126.73. The rally from 40000 to 50000 has been phenomenal, post sharp correction in August 2020 when the Sensex hit 40000, the index has gained 10000 points in 100 days. Pharma, IT and Metal and selective banking stocks were the major contributor for the index to surge from 40000 to 50000. The markets will remain volatile ahead of the Union Budget. The ideal strategy should be to buy on dips buy between 49600-49500 and keep a final stop loss at 49200 for the same. On the other side, the market can scale higher with the uptrend wave likely to continue up to 50800 – 51750.  The focus should be on commodities and auto companies: Shrikant Chouhan, Executive Vice President (Technical Research Analyst), Kotak Securities

    10:30 (IST)21 Jan 2021
    Gain of last 5,000 pts in BSE Sensex has come in 32 trading sessions

    It is a momentous day for India's capital markets as the Sensex touched 50,000 on Jan 21. The gain of last 5,000 points has come in just 32 trading sessions. Expectations of turnaround in the economy post Covid vaccinations and continued FPI inflows have led to this kind of gains for Indian markets in a globally low interest scenario. Post the Forthcoming Union Budget we may witness a temporary brake to the uptrend and further upmoves from hereon will depend on the pace of economic and corporate earnings growth and the trajectory of inflation and interest rates in India  and the world: Deepak Jasani, Head of Retail Research, HDFC Securities

    10:19 (IST)21 Jan 2021
    For today 72.80-73.20 could be range with all upticks to be sold

    As equity markets all scale new highs USDINR  gets sold off as inflows continue and demand for $ is very poor. For today 72.80 to 73.20 could be the range with all upticks to be sold. Let's see RBI resolve to keep rupee below 73.00.: Anil Kumar Bhansali, Head- Treasury, Finrex Treasury Advisors

    10:13 (IST)21 Jan 2021
    Equity culture at an inflection point in India

    We believe equity culture is at an inflection point in India. With solid research and investing in the right stocks and mutual fund SIPs investors can benefit. However one should be extremely cautious and not over-leverage at high levels.: Sandeep Bhardwaj, CEO, Retail, IIFL Securities

    10:11 (IST)21 Jan 2021
    Indian markets look set to extend gains in short-term

    For the first time ever, Sensex crossed the psychological 50000 mark at today's open, boosted by strong overnight cues from Wall Street and Asian markets today. Risk assets worldwide have reacted quite positively post Joe Biden's inauguration as the US President. Meanwhile, Nifty also hit a record high today, extending its advance for a third straight session. Both Nifty and Sensex have surpassed their prior week's high of 14653 and 49795, respectively. This, in turn, has negated the Spinning Top candles that formed on the weekly charts last week. With global risk appetite quite positive, index heavyweight sectors such as banking and IT showing strength, and the largest component Reliance Industries resuming its rally after several weeks of consolidation, Indian markets look set to extend gains further in the short-term. For Nifty, the immediate upside is now at 15000; while for Bank Nifty, the corresponding upside is at 51500. Immediate support is now placed at 14650 for Nifty and 49700 for Sensex: Abhishek Chinchalkar, CMT Charterholder and Head of Education, FYERS

    10:08 (IST)21 Jan 2021
    Sentiments remain upbeat on strong inflows due to dollar uncertainty

    Domestically, sentiments remain boosted on strong inflows on account of dollar uncertainty helping USDINR pair stay on appreciation mode. RBI’s open market operation worth Rs 10000 crores are due today. With risk-on appetite attracting more inflows on side while RBI’s tolerance on downside will drive the rupee momentum. As indicated by RBI Governor last week that FX intervention will remain an integral part of the policy, further actions by RBI will be seen by the market players. With next technical support at 72.80,any intervention by RBI may protect the 72.90-73.00 zone ,therefore one can buy on dips near 72.90-73.00 and sell on upticks above 73.40 levels in the near term.: Amit Pabari, managing director, CR Forex Advisors

    10:01 (IST)21 Jan 2021
    Best way to address volatility would be to update stops on regular basis

    After crossing the 14550-14600 resistance zone yesterday, we are headed to 14800-14900. This rally could even extend to 15000. The index has a good support at 14300. Any intra day dip can be bought into for higher targets. However, caution is advised as markets can get volatile during corrections. The best way to address the volatility would be to update stops on a regular basis.: Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments

    09:42 (IST)21 Jan 2021
    Sensex crosses 50k, markets at an all-time high

    The liquidity expansion by the central bank and the ample FII driven liquidity, a V-shaped recovery of growth aided by the discovery of the vaccine, and most recently the change of guard in the US have been some of the factors propelling markets higher and higher. As the Sensex crosses the 50k, the valuations do look stretched. The valuations are a function of earnings and earnings not coming through remains the key risk at the current juncture.: Joseph Thomas, Head Of Research, Emkay Wealth Management

    09:38 (IST)21 Jan 2021
    While enjoying bull run, investors should not be carried away by euphoria

    The smooth transition in the US and President Biden's healing speech lifted the US markets to record highs. This feel-good factor is likely to spread to other markets too. FII inflows which had declined a bit during the last few days, have again turned strong going above Rs 2200 crores yesterday. Apart from robust FII inflows, another major factor supporting the rally is the impressive corporate results which started in Q2 and continue in Q3. While enjoying this bull run, investors should not be carried away by the euphoria. At high levels, markets are vulnerable to corrections: V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

    09:35 (IST)21 Jan 2021
    TCS shares top BSE Sensex loser

    Tata Consultancy Services (TCS), Housing Development Finance Corporation (HDFC) and HDFC Bank were the index laggards.

    09:35 (IST)21 Jan 2021
    Bajaj stocks lead Sensex rally

    Bajaj Finance, Bajaj Finserv, HCL Tech, IndusInd Bank, Bajaj-Auto, Ultratech Cement, Reliance Industries Ltd (RIL), Tech Mahindra and Titan Company were among top Sensex performers. 

    09:33 (IST)21 Jan 2021
    IPO Watch: Indigo Paints issue subscribed 1.9 times so far; Home First Finance offer opens today

    The initial public offerings (IPO) of 2021 have so far garnered decent interest. The second public issue of the year, Indigo Paints, was oversubscribed by investors on the very first day of the subscription window. Hoping to tread on the same path, Home First Finance’s IPO will open for subscription today, making it the third offering of 2021 so far. Ahead of the issue, the firm has raised Rs 346 crore from marquee foreign and domestic investors, allotting them 66.81 lakh equity shares at Rs 518 per share. 

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    09:28 (IST)21 Jan 2021
    Sensex hits 50,000, Nifty tops 14,700; new all-time highs for India’s stock market indices

    BSE Sensex hit the psychological 50,000-mark for the first time ever on Thursday. It took a little over three months for BSE Sensex to climb from 40,000 to 50,000 points, and took just nine sessions to gain 1,000 points from 49,000 points. Broader index Nifty 50 breached the crucial 14,700 level on the upside. According to the data available on the National Stock Exchange, the index closed the previous session with a P/E multiple of 39.55. According to the analysts, even as Sensex hit 50,000, there are bumps ahead. The market is likely to turn highly volatile during the Union Budget 2021.

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    09:19 (IST)21 Jan 2021
    Indices surge to record highs, Sensex hits 50k

    BSE Sensex jumped over 240 points or 0.50 per cent to hit 50,000-mark for the first time ever, while the broader Nifty 50 index crossed the crucial 14,700 on Thursday.

    Check live Sensex, Nifty levels

    09:11 (IST)21 Jan 2021
    COMEX gold trades marginally higher near $1869/oz

    COMEX gold trades marginally higher near $1869/oz after a 1.4% gain yesterday. Gold is supported by weakness in the US dollar; increased US stimulus expectations; rising virus cases and increased US-China tensions. However; weighing on price is vaccine progress and weaker investor interest as is evident from ETF flows. Gold's break past the $1860/oz may lead to extended gains however the momentum may sustain only if there is progress on US stimulus talks: Ravindra Rao, VP- Head Commodity Research at Kotak Securities

    09:10 (IST)21 Jan 2021
    RIL, HCL Tech top Sensex gainers in pre-open

    Reliance Industries Ltd (RIL), HCL tech and Bajaj-Auto were the top BSE Sensex gainers in the pre-open session today

    09:04 (IST)21 Jan 2021
    Sensex hits 50,000, Nifty above 14,700

    BSE Sensex jumped over 250 points or 0.52 per cent to hit 50,000-mark for the first time ever, while the broader Nifty 50 index crossed the crucial 14,700 in the pre-opening session o Thursday.

    Check live Sensex, Nifty levels

    08:53 (IST)21 Jan 2021
    Stocks in focus: RIL, Aditya Birla Fashion, SBI Cards, Bajaj Auto, L&T, Federal Bank

    A total of 57 companies including Asian Paints, Bajaj Auto, AAVAS Financiers, SBI Cards and Payment Services, Bajaj Holdings & Investment, Bandhan Bank, Biocon, Cyient, Jindal Steel & Power, JK Tyre & Industries, Kajaria Ceramics, Reliance Power, Zensar Technologies and Zicom Electronic Security Systems are set to announce their quarterly earnings on January 21.

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    08:21 (IST)21 Jan 2021
    Buy these two stocks for near term gains as bulls continue to push Nifty higher

    Nifty continued with a sustainable upmove for the second consecutive session on Wednesday and closed the day higher by 123 points. Nifty registered a new all-time high at 14666 in the latter part of the session. Another long bull candle was formed, which indicate an uptrend continuation pattern. The previous four sessions decline has been retraced completely in the last two sessions. This faster retracement could signal further upside in the short term.

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    08:19 (IST)21 Jan 2021
    FIIs pump-in nearly Rs 2,290 crore

    On Wednesday, foreign institutional investors (FIIs) pumped in Rs 2,289.05 crore, whereas domestic institutional investors (DIIs) offloaded shares worth Rs 864.62 crore on a net basis, according to the provisional data available on the NSE.

    08:10 (IST)21 Jan 2021
    Indigo Paints IPO subscribed 1.90 times on first day

    The initial public offer of Indigo Paints was subscribed 1.90 times on the first day of bidding on Wednesday. The offer received bids for 1,04,67,410 shares against 55,18,402 shares on offer, as per data available with NSE. The portion reserved for qualified institutional buyers (QIBs) was subscribed 10 per cent, non institutional investors 1.10 times and retail individual investors (RIIs) 3.29 times.

    08:05 (IST)21 Jan 2021
    Home First Finance mops up Rs 346 crore from anchor investors

    HFFC raised a little over Rs 346 crore from anchor investors on Wednesday. A total of 66,81,766 shares have been allotted to 25 anchor investors at Rs 518 per share, the upper end of the price band. At this price, the company raised Rs 346.11 crore, according to a BSE circular.

    08:04 (IST)21 Jan 2021
    US stock indices end up at record highs

    In overnight trade US stocks closed at record highs on Joe Biden’ swearing-in and nearly 17 per cent rally in Netflix share price. The Dow Jones Industrial Average rose 0.83 per cent, the S&P 500 gained 1.39 per cent, and the Nasdaq Composite added 1.97 per cent.

    08:04 (IST)21 Jan 2021
    Asian peers follow Wall Street rally

    Mirroring the Wall Street rally, Asian stock market were also seen trading higher with Japan’s Nikkei 225 rising 0.79 per cent. Topix index advanced 0.67 per cent. 

    08:04 (IST)21 Jan 2021
    Wall Street surges to welcome Joe Biden, Asian peers follow; will Sensex, Nifty mirror the trend?

    Domestic equity markets continued to climb higher on Wednesday, this time reach fresh all-time highs. S&P BSE Sensex now sits at 49,792 points while the broader Nifty 50 index was at 14,644. For Thursday, SGX Nifty was trading 52 points higher, hinting at a continuation of the trend of the last two days. On Wednesday, Wall Street was cheering the 46th President of The United States, as equity indices surged during the day’s trade. The same positive momentum was carried on to Asian markets.

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    08:04 (IST)21 Jan 2021
    Government to get Rs 1,544 crore from IRFC IPO

    The government will get Rs 1,544 crore from the initial public offering (IPO) of Indian Railway Finance Corporation. The Rs 4,633 crore IPO of Indian Railway Finance Corporation (IRFC) was subscribed 3.49 times on the final day of bidding on Wednesday. So far in current fiscal, the government has mopped up Rs 15,220 crore from disinvestment and share buyback.

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