Share Market News Today | Sensex, Nifty, Share Prices HIGHLIGHTS: Domestic equity market BSE Sensex and Nifty 50 snapped three-day gaining spree on Friday, ending over 1 per cent lower. BSE Sensex fell 773 points or 1.3 per cent to 58,153, while Nifty finished at 17374, down 231 points or 1.3 per cent. Tech Mahindra was the top Sensex loser, followed by Infosys, HCL Tech, Kotak Mahindra Bank, UltraTech Cement, Wipro, State Bank of India (SBI). On the flip side, IndusInd Bank, Tata Steel, NTPC, Mahindra & Mahindra and ITC were the only index gainers. All the Nifty sectoral indices ended in deep sea of red. Bank Nifty fell 1.3 per cent to 38,517.
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Nifty found resistance around 17635 and slipped lower towards the gap on the daily timeframe. On the daily timeframe, a red-bodied candle is visible. Once again, the index has slipped below the 50 EMA. The trend looks sideways to negative for the near term. On the lower end, support is visible at 17250-17265. On the other hand, Nifty needs to move beyond 17640 to change the current bearish trend. Rupak De, Senior Technical Analyst at LKP Securities
BSE Sensex fell 773 points or 1.3 per cent to 58,153, while Nifty finished at 17374, down 231 points or 1.3 per cent.
Life Insurance Corporation (LIC) did not pay any dividend to the government in the last financial year and used the free reserves to increase its paid-up capital, which has now risen to Rs 6,325 crore, the government had told Rajya Sabha.
US small cap stocks have outperformed large cap stocks over the past two decades, and the same might continue in 2022, analysts at Goldman Sachs said. “We believe smallcap stocks can continue to outperform in 2022. The expectation for earnings growth of Russell 2000 companies in 2022 is 30%, well above the 9% forecast for the S&P 500,” analysts said in a report. Since March 2020, the Russell 2000 index, which is a small-cap stock market index that makes up the smallest 2,000 stocks in the Russell 3000 Index, has zoomed 102%. On the other hand, the largecap S&P 500 has gained 95%.
India VIX, the volatility index, has zoomed 5.87% on Friday taking the index to 18.73 levels.
Tata Sons board has approved the re-appointment of Executive Chairman N Chandrasekaran for another five years, the company said in a statement Friday. The board members unanimously approved the reappointment of N Chandrasekaran, the company said. Ratan Tata, who was a special invitee to this meeting, also recommended his term be renewed for a further five-year period, the company said.
Indian equity markets, like their Asian counterparts, have been trading in the red as traders worry about US inflation, which has soared to its highest level in four decades, hammering American consumers, wiping out pay raises, and reinforcing the Federal Reserve's decision to start raising borrowing rates across the economy. Selling intensified after former Reserve Bank of India Governor D Subbarao stated that low interest rates and the vast amount of liquidity available in the economy today could jeopardize financial stability. He went on to say that the issue for central banks, including the Reserve Bank of India, was to strike a balance between maintaining price stability, supporting growth and employment, and maintaining financial stability in a globalized world. Gaurav Garg, Head of Research, Capitalvia Global Research
Zomato's results have no big surprises. The company is focused on building a large presence in out-of-home food consumption. The GMV and number of users have shown a sharp growth on a YoY basis without any drop in the AOV. The contribution margin has improved to 1% and the company has guided to EBITDA level profitability when the contribution rate increases to 5%. It is good to see the company's focus on profitability. We believe that with its organic and inorganic initiatives and a well-funded balance sheet Zomato remains the best play in the fast-growing F&B market. While short-term investors may feel disappointed we believe that Zomato will reward long-term investors handsomely. ~ Abhay Agarwal, Founder, and Fund Manager, Piper Serica, SEBI Registered Portfolio Management Service Provider
US inflation has hit a multi decade high of 7.5%, which has implications on the pace of interest rate increase by the US Fed. As we suggested earlier, this will lead to higher volatility in all financial markets, including equity, debt, and currency. We expect emerging market currencies to be under pressure, including INR. We also expect Indian interest rates to increase despite dovish RBI yesterday. This will have implications for equity investors. We expect this increased volatility to hit small / midcaps more than large caps. We believe that the expected increase in volatility should be used by investors to build positions in quality large-cap and midcap stocks. Some of the sectors where we remain positive are Banking, including quality PSU Banks, commodities, real estate, capital goods, and healthcare. Naveen Kulkarni, Chief Investment Officer, Axis Securities
Shares of food-tech company Zomato Ltd fell as much as 9% from last close on Friday after posting lukewarm earnings a day earlier. Zomato’s stock fell to Rs 85.85 a scrip in early trade, from last close of Rs 94.50 a share. Zomato on Thursday posted a marginal 5% quarter-on-quarter increase in order volume and operating revenue.
BSE Sensex and Nifty 50 were trading over 1.5 per cent higher on Friday, after the US inflation rate jumped to a 40-year high of 7.5 per cent. Stocks of Infosys, ICICI Bank, Housing Development Finance Corporation (HDFC), Tata Consultancy Services (TCS), and Reliance Industries Ltd (RIL) contributed the most to the indices fall. So far in the trade, the 30-stock index hit a day’s low of 57,914.10, while Nifty 50 touched a day’s low of 17,303.
Tata Steel and IndusInd Bank were the only two stocks that were in the green on Friday on Sensex.
As shared in Nifty Pathfinder, supports of 17,300 and 38,500 working well. There are two ways to navigate from here:
Case 1: Markets don’t see a follow-up selling from here & we recover in the second half.
Case 2: Markets break these supports & tread lower.
Keep an eye on these levels & you will find your way. Be patient until 2 pm for more clarity.
~ Rahul Sharma, Director & Head - Research, JM Financial
We are seeing a sharp cut in the market on the back of a sharp jump in US bond yields due to 4 decade-high inflation however most of this fear is already factored in therefore we have to check how the market will negotiate a high-interest environment because we have seen the scenario of rising interest rates and rising equity markets. Technically, Nifty is facing resistance in a cluster of 20-DMA and 100-DMA at 17600-17650 while 17300 is an immediate and important support level while 17000-16800 is a critical demand zone. The overall view will remain bullish till Nifty trades above the 16800 level while there are multiple resistances till 17800. A breakout of the 17800 level may lead to a move towards a fresh all-time high. Santosh Meena, Head of Research, Swastika Investmart
Infosys was the top BSE Sensex loser, followed by Tech Mahindra, Nestle India, Wipro, L&T, HCl Tech, Titan Company, ITC, SBI, among others
Nifty metal index has soared a whopping 9.6% so far this month, outperforming the benchmark Nifty 50, which has been flat in the same time period. “The Nifty metal index logged a resolute breakout from three months higher base formed in the vicinity of 100 days EMA, highlighting robust price structure,” said ICICI Direct in a note. The brokerage firm believes the index is offering a fresh entry opportunity for investors to ride the next leg of up-move. “Going ahead, we expect Nifty Metal index to relatively outperform the benchmark and challenge the 52 weeks high in coming months,” they added.
"Nifty below 17,430-17,400 support zone opens the way for another 100 point slip. Possible triple century today. Use intraday bounce to create short positions," said Rahul Sharma, Director & Head - Research, JM Financial.
COMEX gold trades about 0.5% lower near $1826/oz after a near flat close yesterday. Gold trades under pressure as US inflation data and hawkish comments from Fed official has pushed US dollar index higher while bond yields have jumped to 2019 highs. ETF investors have also moved to side-lines after recent inflows. However, supporting price is geopolitical tensions and increasing demand as an inflation hedge. Gold has come off the highs and may remain under pressure as market players assess implication of US inflation data. Ravindra Rao, CMT, EPAT, VP- Head Commodity Research, Kotak Securities
We resisted at the 17600 level, once again proving that it is a hurdle the index needs to get past on a closing basis. From a medium-term trend perspective, the market has turned sideways. The lower and upper range is 17000 and 17800 respectively and we need to get past either level for a definite trend to emerge. Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments
On the technical aspect, the three days of continuous buying spree indicates the market uptrend, wherein the key indicators have also turned bullish. As far as levels are concerned, the base for Nifty inched higher to 17500 followed by 17300 on an immediate basis. On the flip side, as the market gains momentum, the recent swing high of 17800 should easily be tested and any breach above the same could direct the index towards the psychological junction of 18000.
All the Nifty sectoral indices were trading in the deep sea of red. Bank Nifty lost over 1%. Nifty IT plunged nearly 3 per cent
Tech Mahindra, Infosys, Wipro, Bajaj Finance, HCL Tech, Housing Development Finance Corporation (HDFC), Titan Company, Dr Reddy's. Reliance Industries Ltd, Bharti Airtel were all top Sensex draggers
Life Insurance Corporation (LIC) may file the Draft Red Herring Prospectus (DRHP) for its IPO today, according to market participants. Reports suggest LIC’s board will meet today to finalise the details of the IPO, and eventually file papers with the market regulator SEBI.
Adani Wilmar share price extended rally to the fourth straight session, rising another 7 per cent to a new all-time high of Rs 416.40 apiece. The stock has surged 88 per cent from listing price
Sensex tanks over 600 pts to 58308, while Nifty 50 index gave up 17450 levels
Sensex falls 311 points to 58,618, while Nifty 50 fell 129 points to 17476
BSE-listed companies such as ONGC, Divis Labs, Ashok Leyland, Motherson Sumi Systems, Oil India, India Cements, Allcargo Logistics, Anupam Rasayan, Apollo Hospitals Enterprise, Arvind Fashions, Bajaj Hindusthan Sugar, Balaji Telefilms, Mrs Bectors Food Specialities, Brookfield India Real Estate Trust REIT, Dhanlaxmi Bank, Force Motors, Fortis Healthcare, Glenmark Pharmaceuticals, Godrej Industries, Honeywell Automation, HUDCO, Indigo Paints, Inox Wind, Jaiprakash Power Ventures, Kalpataru Power Transmission, Mazagon Dock Shipbuilders, Metropolis Healthcare, MOIL, Nazara Technologies, NHPC, Power Finance Corporation, Puravankara, RateGain Travel Technologies, Shree Renuka Sugars, Sapphire Foods, Shriram EPC, Sobha, Star Health and Allied Insurance Company, Ujjivan Financial Services, Voltas, and VA Tech Wabag will release quarterly earnings on February 11
Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Lucknow: Petrol and diesel prices continue to remain unchanged on February 11 with oil marketing companies (OMC) keeping prices steady. Petrol in the National Capital of Delhi currently retails at Rs 95.41 per litre while diesel in the city is priced at Rs 86.67 per litre. In Mumbai, a litre of petrol and diesel cost Rs 109.98 and Rs 94.14, respectively. Fuel prices have been stable since the central government cut excise duty to bring down retail rates from record highs in November last year. Public sector OMCs including Bharat Petroleum Corporation Ltd (BPCL), Indian Oil Corporation Ltd (IOCL) and Hindustan Petroleum Corporation Ltd (HPCL) revise the fuel prices daily in line with benchmark international price and foreign exchange rates.
US stock indices fell on Wall Street, with the Dow Jones Industrial Average dropping 526.47 points to 35,241.59 while the S&P 500 shed 1.81% to 4,504.08. The Nasdaq Composite plunged 2.1% to 14,185.64.
Shares in Asian stock markets were trading lower in early trade on Friday, tracking overnight losses on Wall Street. South Korea’s Kospi fell 0.78%, while the S&P/ASX 200 in Australia declined 0.77%.