Market HIGHLIGHTS: Sensex falls 470 pts, Nifty below 14,300 as weak global cues weigh on investor sentiments

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Updated: January 18, 2021 4:34:19 pm

Share Market News Today | Sensex, Nifty, Share Prices HIGHLIGHTS: Domestic equity market benchmarks BSE Sensex and Nifty 50 plunged nearly one cent on Monday amid weak global cues

stocks in focus, HDFC, maruti suzukiMarket particpiants will continue to look at the fine print of the Union Budget 2021, along with corporate earnings, foreign fund inflows, oil prices, rupee movement and other global developments for further cues.

Share Market News Today | Sensex, Nifty, Share Prices HIGHLIGHTS: Domestic equity market benchmarks BSE Sensex and Nifty 50 fell over one per cent on Monday as weak global cues weighed on investor sentiments. BSE Sensex tumbled 470 points or 0.96 per cent to 48,564. while the broader Nifty 50 index plunged 152 points or 1.06 per cent to end at 14,281. Out of 30 Sensex stocks, just four stocks ended in the positive territory. ONGC shares were worst-performers, falling 4.6 per cent, followed by Power Grid Corporation of India, Bajaj Finance, Sun Pharma, IndusInd Bank, Maruti Suzuki and Bharti Airtel, among others. India VIX, the volatility index, settled 1.2 per cent higher at 24 levels. Market breadth remained in the favour of bears on Monday as 2,089 stocks declined while 939 scrips rose. All the sectoral indices ended in a deep sea of red with Nifty Metal index plunging over 4 per cent.

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Highlights

    16:01 (IST)18 Jan 2021
    IRFC has strong business fundamentals; IPO is attractively priced at 1x FY20 book value

    IRFC has strong fundamentals and has delivered good growth in recent years. It has a low-risk profile since it caters to the Indian Railways and other Public sector Undertakings. Moreover, it has a low cost of borrowing and diversified sources of funding. At the higher end of the price band, IRFC IPO is attractively priced at 1x the FY20 book value per share. Given strong business fundamentals and good growth prospects, we remain positive on the prospects of the issue.:INDmoney

    15:38 (IST)18 Jan 2021
    BSE Sensex, Nifty tumble 1%

    BSE Sensex tumbled 470 points or 0.96 per cent to 48,564. while the broader Nifty 50 index plunged 152 points or 1.06 per cent to end at 14,281

    15:36 (IST)18 Jan 2021
    ESG, elections, fiscal support: 6 macro factors to watch as India plans to vaccinate 30 crore people

    If the year 2020 was truly a head-spinning year, a year like no other, 2021 will be an exhilarating albeit bumpy one. In 2021, the sheer scale and efficacy of inoculating 7 billion people with billions of doses of vaccine will be truly unprecedented. 

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    14:26 (IST)18 Jan 2021
    Union Budget 2021: Need higher focus on demand revival, boost in growth engines to spur Covid-battered economy

    Indian Union Budget 2021-22: As the countdown for the Union Budget 2021 has begun, all eyes are now set on how the Hon’ble Finance Minister’s attempts to walk the tightrope to strike a balance and play the role of a catalyst in the unprecedented time of the pandemic crisis.

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    13:51 (IST)18 Jan 2021
    IRFC IPO subscribed 34% so far

    Indian Railway Finance Corporation (IRFC) initial public offer (IPO) has been subscribed nearly 34 per cent so far on the first day of bidding process.

    12:43 (IST)18 Jan 2021
    All major indices trading negative; Tata Motors, Tata Steel biggest losers on NSE

    Market opened on a flatter note at 14453.30 following the weak global cues. Global cues also indicated that this week would be sluggish and choppy as the global market movements showed small corrections with the opening all over the globe. The European Central Bank will meet on Thursday for the first time in 2021 as it tries to manage the impact of rising COVID-19 cases, a resurge in lockdowns across the continent and taking into account preliminary PMI data from Europe. The continent has taken a hit in January as the spread of the virus has trumped the vaccine rollout. The impact of this can be seen on the markets all over the world. All major indices have been trading negative, Tata motors and Tata steel being the biggest losers on NSE: Guarav Garg, Head of  Research at CapitalVia Global Research Limited- Investment Advisor

    12:35 (IST)18 Jan 2021
    Gold, silver may continue to trade sideways to down as dollar index rallies; check support, resistance levels

    Commodity prices traded volatile during the week passed by with most of the commodities in non-agro segments witnessed selling. Crude oil prices managed to end in green while base metals traded weak on demand growth concerns. Bullion prices pared weekly gains in the second half of the week with rally in dollar index. The dollar index rose by 0.75% for the week in a rare move against widening deficit and higher stimulus.

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    12:17 (IST)18 Jan 2021
    Adani Green Energy shares fall 3% even as Total buys 20% stake; down 25% in less than 2 months

    Adani Green Energy Ltd share price fell as much as 2.84 per cent to Rs 920.55 apiece on BSE today. Adani Green Energy shares have corrected nearly 25 per cent in less than two months, from the 52-week high of Rs 1220 apiece. Today, French oil and energy group Total announced the acquisition of a 20 per cent minority stake in Adani Green Energy Limited (AGEL) from Adani Group for a global investment of $2.5 billion. Moreover, the stake purchase in AGEL would give Total a seat on the Board of Directors of the company.

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    11:10 (IST)18 Jan 2021
    HDFC Bank share price hits new 52-week high on jump in Q3 net profit; should you buy?

    HDFC Bank share price gained 2.3 per cent to hit a fresh 52-week high of Rs 1,500 apiece on BSE today. The bank reported an 18.1 per cent on-year growth in net profit at Rs 8,758 crore for the quarter ended December 31, 2021. The bank posted a net profit of Rs 7,416 crore in the same period last year. HDFC Bank’s net interest income for the third quarter grew 15.1 per cent to Rs 16,317 crore helped by growth in advances, which was at 15.6 per cent. 

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    11:01 (IST)18 Jan 2021
    Total buys 20% stake in India's Adani Green Energy; Adani Green stock falls 1.5%

    French oil and energy group Total has agreed to buy a 20% minority stake in India's Adani Green Energy Limited (AGEL) from Adani Group, as Total builds up its presence in the renewable energy sector. Total said on Monday that its purchase of the stake in AGEL would give Total a seat on the board of directors of AGEL. (Reuters)

    10:23 (IST)18 Jan 2021
    IRFC may not be a quick bite on listing but from longer-term prospects issue looks acceptable

    The issue looks attractively priced. The NPAs stands to be nil and the company plays an imperative role in financing growth of Indian Railways. Owing to the huge issue size IRFC may not be a quick bite on listing but from longer-term prospects issue looks definitely acceptable to me.: Abhay Doshi, Founder, UnlistedArena.com – dealing in Pre-IPO & Unlisted Shares

    10:01 (IST)18 Jan 2021
    IRFC IPO opens; should you subscribe for the listing gains or long-term gains?

    The Rs 4,633-crore Indian Railway Finance Corporation (IRFC) initial public offer opened today for subscription, in the price band of Rs 25-26 apiece. The dedicated market borrowing arm of the Indian Railways has allocated 53.45 crore equity shares at Rs 26 per share on Friday to anchor investors. The grey market premium of IRFC has fallen to Rs 1.25-1.30 today from Rs 1.60 on Friday.

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    09:52 (IST)18 Jan 2021
    RBI buying provides natural relief for exports

    A bit of biddishness is seen in the USDINR market possibly after Yellen's comments about the weak dollar though not very clear. Imports should be hedged at least for Jan while exports can wait for 73.50 is the view. RBI buying provides natural relief for exports. A bit of selling is surely seen in stock markets after the ferocious rise. The advance-decline also favouring declines so time for some profit booking.: Anil Kumar Bhansali, Head- Treasury, Finrex Treasury Advisors

    09:51 (IST)18 Jan 2021
    RBI to trade in a 72.90-73.60 range with upside bias

    The major event this week is the ECB monetary policy on Thursday. President Biden's inauguration ceremony is on the 20th. For the week we expect the RBI to trade a 72.90-73.60 range with upside bias. Today is a US holiday and therefore no cash transactions would be possible. For the day Rupee is likely to open around 73.19 and trade a 73.10-73.40 range with upside bias.: Abhishek Goenka, Founder and CEO, IFA Global

    09:45 (IST)18 Jan 2021
    Volatility needs to be strategically utilised

    If the markets trade below 14370-14380 and manage to close below that too, we would be in a correction zone which could take the Nifty down to 14150 and then 14000. Extreme caution should be exercised and stops must be in place for all trades, long or short. Volatility needs to be strategically utilised. For the markets to move up, we need the index to close around the 14600 levels. Until that does not happen, the trend remains sideways with a bearish bias: Manish Hathiramani, Proprietary Index Trader and Technical Analyst, Deen Dayal Investments

    09:22 (IST)18 Jan 2021
    Sensex, Nifty trade flat on Monday

    BSE Sensex was trading flat with a negative bias at 49,025, while the broader Nifty 50 index was testing 14,400 on Monday.

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    09:06 (IST)18 Jan 2021
    RIL shares top BSE Sensex gainer in pre-open

    Reliance Industries Ltd (RIL) shares top BSE Sensex gainer in pre-open. RIL shares were trading 1.57 per cent up at Rs 1,968 apiece.

    09:05 (IST)18 Jan 2021
    Sensex falls 140 pts in pre-open

    BSE Sensex fell 140 points in the pre-opening session on Monday, following weak global cues.

    Check live Sensex, Nifty levels

    08:58 (IST)18 Jan 2021
    FII, DII data

    On Friday, foreign institutional investors (FIIs) lapped up shares worth Rs 971.06 crore, while domestic institutional investors (DIIs) offloaded shares worth Rs 942.07 crore on a net basis in the Indian equity market on January 15, as per provisional data available on the NSE.

    08:52 (IST)18 Jan 2021
    Stocks in focus today: HDFC Bank, Reliance Industries, Wipro, IRFC, Mindtree, Indiabulls Real Estate

    A total of 21 companies including Mindtree, Indiabulls Real Estate, IndiaMART InterMESH, IRB Infrastructure Developers, Majesco, Rallis India, Alok Industries, Shakti Pumps, Snowman Logistics and Trident, among others are set to announce their October-December quarter earnings later in the day today.

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    08:27 (IST)18 Jan 2021
    HDFC Bank Q3 net rises 18% y-o-y

    HDFC Bank on Saturday reported an 18% year-on-year (y-o-y) growth in net profit for the quarter ended December to Rs 8,578 crore on the back of a 15% y-o-y rise in net interest income (NII) to Rs 16,317.6 crore, with non-interest income growing 11.6% y-o-y. The bank’s non-bank subsidiary posted a loss during the quarter.

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    08:07 (IST)18 Jan 2021
    Quarterly earnings, vaccine rollout key factors for market this week: Analysts

    The domestic equity market will be largely guided by the ongoing quarterly earnings as well as global cues in the coming week and indices may witness volatility in the run-up to the Budget, according to analysts. Besides, investors will keep tracking latest developments and trends on the COVID-19 pandemic front, especially the vaccine rollout in the country.

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    08:06 (IST)18 Jan 2021
    IRFC, Indigo Paints to hit market this week, eye over Rs 5,800 cr in IPO

    Two companies — Indian Railway Finance Corporation and Sequoia Capital-backed Indigo Paints — are set to hit the market with their initial share-sale offers this week to raise an estimated over Rs 5,800 crore. The companies are expecting to benefit from an equity market, which is flush with liquidity and has seen a sharp increase in new retail investors.

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    08:06 (IST)18 Jan 2021
    Equity Strategy: Broad-based upgrade in earnings likely

    Corporate earnings should grow at 21% y-o-y with the earnings growing across all 13 sectors in Q3 vs. 6 in the previous quarter. Domestic company earnings growth of 12% will be at a 7-quarter high. Margins should flatten to decline q-o-q as cost normalisations are seen across several sectors and raw material prices have risen. Metals, cement, pharma and mid-cap earnings should rise 30%+ while consumer and IT will be in mid-single digits.

    Jefferies

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