Market HIGHLIGHTS: Sensex ends at record closing high, Nifty near 14,350; Maruti, Tech Mahindra zoom over 5%

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Updated: January 8, 2021 4:19:04 pm

Share Market News Today | Sensex, Nifty, Share Prices HIGHLIGHTS: Domestic equity market benchmarks BSE Sensex and Nifty 50 ended at record closing highs on Friday

Share Market Today, Share Market LiveIn the broader market, S&P BSE MidCap index settled 1 per cent higher at 19,138.7 levels. While the S&P BSE SmallCap index ended at 18,908.59 levels, up 0.72 per cent.

Share Market News Today | Sensex, Nifty, Share Prices HIGHLIGHTS: Domestic equity market benchmarks BSE Sensex and Nifty 50 gained over one per cent on Friday, settling at fresh record highs. BSE Sensex ended 689 points, or 1.43 per cent higher to end at fresh closing peak of 48,782.5. Nifty 50 index also settled at a fresh closing peak of 14,347, closing 210 points or 1.48 per cent higher. Out of 30 Sensex stocks, 24 scrips ended in the positive territory led by Maruti Suzuki with surged nearly 6 per cent. Tech Mahindra, Infosys, UltraTech Cement, Power Grid Corporation of India, NTPC, Sun Pharma, HCL technologies were among other gainers. On the flip side, IndusInd Bank, Bharti Airtel, State Bank of India (SBI), ITC, Housing Development Finance Corporation (HDFC) and Bajaj Finance were the index laggards. In the broader market, S&P BSE MidCap index settled 1 per cent higher at 19,138.7 levels. While the S&P BSE SmallCap index ended at 18,908.59 levels, up 0.72 per cent.

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Highlights

    15:41 (IST)08 Jan 2021
    Sensex, Nifty scales fresh closing highs

    BSE Sensex ended 689 points, or 1.43 per cent higher to end at fresh closing peak of 48,782.5. Nifty 50 index also settled at fresh closing peak of 14,347, closing 210 points or 1.48 per cent higher.

    14:02 (IST)08 Jan 2021
    Year 2020 in flashback: Key decisions that drove economy and those that failed

    2020, will be remembered as one of the fascinating stories of mass cooperation in human history, where the entire world came together to fight an invisible enemy, rather successfully. India began the year with a jolt, GDP growth plummeting to 4.2% (lowest in the past decade) and the advent of COVID couldn’t have been timed better for a tailspin. The nation went into a full lock down, cities and malls became zombie towers and we saw population being imprisoned enmasse at homes in fear.

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    13:12 (IST)08 Jan 2021
    Upcoming IPOs in 2021: LIC, IRFC, Zomato, other public issues on cards; will IPO bull run continue in 2021?

    Upcoming IPOs in 2021 in India: Indian companies raised over Rs 30,000 crore from the investors in the last calendar year 2020, even as COVID-19 pandemic hit the market sentiment. In the new year 2021, nearly two dozen companies are lined up to hit the capital markets with initial public offers including Home First Finance Company, Railtel, Indigo Paints, Indian Railway Finance Corporation, Life Insurance Corporation (LIC), Kalyan Jewellers and Barbeque Nation, among others. Analysts expect that the 2020 bull run of IPO may continue in 2021.

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    12:43 (IST)08 Jan 2021
    Cyclicals to drive 3QFY21 earnings: Motilal Oswal

    We are Neutral on Financials, Consumer and Autos and UW on Capital Goods, Infra and Energy. We have raised Cement to OW with Ultratech and JK Cement as preferred ideas; it remains our preferred Cyclical play along with Automobiles. We have also increased weightage of Metals. We have introduced JSPL, United Spirits, Oberoi Realty, Varun Beverages, SEIS & JK Cements to our model portfolio. After our recent downgrade of L&T Infotech, we redistributed its weightage among Infosys and HCL Tech as we found the relative risk-reward ratio more favorable given their valuations: Motilal Oswal Financial Services

    10:35 (IST)08 Jan 2021
    TCS share price jumps over 2% ahead of Oct-Dec quarter results; large deal wins, outlook on margins eyed

    TCS share price jumped over 2 per cent to Rs 3,098.35 apiece today on BSE ahead of October-December quarter earnings. Earlier this week, Tata Consultancy Services stock price hit a 52-week high of Rs 3,114.45 per share. The Information Technology (IT) sector has been among one of the best performing sectors in FY21. The Nifty IT index has surged nearly 2 per cent to 25,727.10 levels.

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    10:06 (IST)08 Jan 2021
    Rupee shall be in range of 73-74 levels

    Technically, the USDINR pair has successfully traded below 73.50 crucial resistances for past two weeks. If it breaks the same rupee is likely to move towards 73.70-73.80. Overall, the rupee shall be in range of 73.00-74.00 levels, with 73.00 levels a near term support for rupee, while 73.50 is acting as a strong resistance. It is advisable to sell on upticks close to 73.70-73.80 levels, and for buying near 73.00-73.30 levels for the near term exposures.: Amit Pabari, managing director, CR Forex Advisors

    10:01 (IST)08 Jan 2021
    Nifty support lies at 13900-13950 zone

    The index faces resistance at the 14250 level. If we can consistently trade above that price point we should target 14350-14400 as the next target. The market has a good support at the 13900-13950 zone.: Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments

    09:29 (IST)08 Jan 2021
    Bharat Rasayan share price surges over 10% on buyback proposal

    Bharat Rasayan share price surges over 10 per cent to Rs 10,543.65 apiece on BSE as company informed to consider the proposal of buyback of equity shares on January 12.

    Check live prices: Bharat Rasayan

    09:26 (IST)08 Jan 2021
    Titan, HDFC, Kotak Mahindra Bank trade in red

    Out of 30 Sensex stocks, three stocks, Titan Company, Housing Development Finance Corporation (HDFC) and Kotak Mahindra Bank, were trading in the red.

    09:24 (IST)08 Jan 2021
    Tech Mahindra, Infosys, TCS top BSE Sensex gainers

    Top BSE Sensex gainers were Tech Mahindra, Infosys, Tata Consultancy Services, Powe Grid Corporation of India, HCL technologies, ONGC, Maruti Suzuki, UltraTech Cement among others.

    09:22 (IST)08 Jan 2021
    TCS share price jumps 1.5% ahead of Q3 results

    Tata Consultancy Services (TCS) share price jumped 1.48 per cent to 3,077.45 apiece on BSE in morning deals ahead of October-December quarter results.

    Check prices: TCS

    09:19 (IST)08 Jan 2021
    Sensex, Nifty mirror global cues, trade with gains

    The S&P BSE Sensex jumped 342 points or 0.71 per cent to 48,436, while the broader Nifty 50 topped 14,200 levels on Friday on the back of positive global cues.

    Check live Sensex, Nifty levels

    09:06 (IST)08 Jan 2021
    Nifty support lies at 14000 levels

    The short term trend of Nifty has turned out to be choppy and this range-bound movement is expected to continue for the next session. Immediate resistance is placed at 14300 and short term support for the Nifty is at 14000 levels. A sustainable move above 14300 could open further upside momentum in the market: Nagaraj Shetti, Technical Research Analyst, HDFC Securities

    09:05 (IST)08 Jan 2021
    Sensex surges over 1% in pre-open

    The S&P BSE Sensex surged 500 points or over per cent in the pre-opening session on Friday on the back of positive global cues.

    Check live Sensex, Nifty levels

    08:58 (IST)08 Jan 2021
    Investors can use the present excessive optimism to sell poor quality stocks

    Formal certification of Biden presidency and Trump promising smooth transition of power have further pushed US markets higher. Even though this might embolden our bulls too, there are some areas of concern. FII inflows are steadily declining and low- grade stocks are touching record highs. Irrational retail investor enthusiasm for 'cats & dogs' is an indication for caution. This is not the time for exuberance. Investors can use the present excessive optimism to sell poor quality stocks in the portfolio.: V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

    08:50 (IST)08 Jan 2021
    Stocks in focus today: TCS, Vodafone Idea, State Bank of India, Tata Power, Biocon

    Nifty futures were trading 32.50 points up at 14,287.50 on Singaporean Exchange, suggesting a gap-up start for BSE Sensex and Nifty 50 on Friday. Asian markets were seen trading mostly higher following an overnight rally on Wall Street.

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    08:31 (IST)08 Jan 2021
    FII, DII data

    On Thursday, foreign institutional investors (FIIs) bought shares worth Rs 382.3 crore, whereas domestic institutional investors (DIIs) sold shares worth Rs 989.5 crore on a net basis in the Indian equity market, according to the provisional data available on the NSE.

    08:22 (IST)08 Jan 2021
    Govt released latest estimates of India’s GDP growth

    Sanjay Aggarwal, President, PHD Chamber of Commerce and Industry has appreciated the Government for pulling the economy from the low growth of (-)23.9% in Q1 FY 2020-21 to the overall growth of (-)7.7% in FY 2020-21 in the extremely difficult time of Pandemic COVID-19. National Statistical Office, GOI has released today the latest estimates of India’s GDP growth at (-)7.7% for FY 2020-21 in its First Advance Estimates of National Income, of which the growth of Agriculture, forestry & fishing is estimated at 3.4%, Mining & quarrying at (-)12.4%, Manufacturing at (-)9.4%, Electricity, gas, water supply & other utility services at 2.7%, Construction at (-)12.6%, Trade, hotels, transport, communication & services related to broadcasting at (-)21.4%, Financial, real estate & professional services at (-)0.8% and Public administration, defence & other services at (-)3.7%.

    08:19 (IST)08 Jan 2021
    Wall Street stocks hit record high levels

    In overnight trade, US stock market main indices Dow Jones Industrial, S&P 500 and tech-heavy Nasdaq Composite, set new highs. Dow gained 0.69 per cent, S&P500 surged 1.48 per cent and Nasdaq jumped 2.56 per cent.

    08:18 (IST)08 Jan 2021
    All eyes on TCS Q3 today

    Tata Consultancy Services (TCS) will announce October-December quarter results later in the day today. Analysts expect robust revenue growth on the back of ramp-up of certain large deals. TCS share price jumped over 32 per cent in the calendar year 2020, while it managed to gain 15 per cent in the third quarter of FY21. In the recently concluded buyback, Tata Sons tendered shares worth Rs 10,000 crore of Tata Consultancy Services. The company’s cash reserves stood at Rs 58,500 crore as of September 2020.

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