Share Market News Today | Sensex, Nifty, Share Prices Highlights: Indian benchmark indices ended with marginal gains in the volatile session on Thursday (January 13) with buying witnessed in the metal and pharma names. BSE Sensex ended 85.26 points or 0.14% up at 61,235.30, while Nifty50 closed 0.25% higher at 18,257.80. On the sectoral front, metal, pharma, power, oil & gas and capital goods indices rose 1-3 percent, while bank and realty indices fell over 0.5 percent each. In broader markets, BSE midcap and smallcap indices ended in the green. Tata Steel, JSW Steel, Sun Pharma, Coal India and UPL were the top Nifty gainers. On the other hand, Wipro, Asian Paints, HDFC Bank, Kotak Mahindra Bank and IndusInd Bank were the laggards.
Shares of IT heavyweights Infosys and Tata Consultancy Services (TCS) will remain in focus after both companies reported Q3FY22 results on Wednesday. TCS reported higher profit at Rs 9,769 crore in Q3FY22 against Rs 9,624 crore in Q2FY22, revenue jumped to Rs 48,885 crore from Rs 46,867 crore QoQ. The company also approved buyback of 4 crore equity shares for up to Rs 18,000 crore, at a price of Rs 4,500 per share. Meanwhile, Infosys reported higher profit at Rs 5,809 crore in Q3FY22 against Rs 5,421 crore in Q2FY22, revenue rose to Rs 31,867 crore from Rs 29,602 crore QoQ.
Indian benchmark indices ended marginal higher in the volatile session on Thursday with buying witnessed in the metal and pharma names. BSE Sensex ended 85.26 points or 0.14% up at 61,235.30, while Nifty50 closed 0.25% higher at 18,257.80. On the sectoral front, metal, pharma, power, oil & gas and capital goods indices rose 1-3 percent, while bank and realty indices fell over 0.5 percent each. In broader markets, BSE midcap and smallcap indices ended in the green.
The BSE Metal index surged over 3 per cent led by Tata Steel. The Healthcare, Capital Goods and Power indices were up around a per cent each. Whereas, the Bankex and Realty index were down 0.8 per cent each.
Over 370 stocks hit 52-week high on the BSE, while five scrips including Paytm touched fresh lows. Apollo Finvest, DB Realty, JBM Auto, Blue Dart Industries, Eclerx Services, Larsen & Toubro, Mitsu Chem Plast Ltd, Sun Pharma, SRF Ltd, Talbros Automotive Components Ltd, Thermax and Yasho Industries Ltd were among the stocks that hit 52-week highs on BSE. Meanwhile, Asahi Industries Ltd, Fabino Life Sciences Ltd, Mena Mani Industries, Mena Mani Industries, One 97 Communications Ltd (Paytm) and Suvidha Infraestate Corporation Ltd. were the scrips that touched 52-week lows.
Fabino Life Sciences Limited became the 359th company to get listed on the BSE SME Platform on Thursday. Fabino Life Sciences Limited came out with an initial public offering of 9,00,000 equity shares of Rs 10 each for cash at a price of Rs 36 per equity share, aggregating to Rs 3.24 crore. The company successfully completed its public issue on January 5, 2022.
Rakesh Jhunjhunwala-owned Tata Motors' share price was down 2.3% on Thursday trading at Rs 495 per share as investors reacted to the company’s third-quarter business update for the Jaguar Land Rover unit. Tata Motors informed the stock exchanges that during the third quarter of the fiscal year, sales were better than the previous quarter but continued to be constrained by the shortage of semiconductors. Analysts, however, remain optimistic about Tata Motor’s domestic and foreign business prospects. Big Bull Rakesh Jhunjhunwala owned 3.76 crore equity shares of the auto giant at the end of the September quarter.
Indian benchmark indices were tracing flat in the volatile session with buying seen in the metal, pharma and capital goods stocks. The Sensex was down 38.17 points or 0.06% at 61111.87, and the Nifty was up 1.90 points or 0.01% at 18214.20.
Tata Motors share price fell 2% intraday to Rs 495 on the BSE on Thursday after its wholly-owned subsidiary Jaguar Land Rover (JLR) reported weak sales numbers for the quarter ended December 2021. The retail sales for the quarter ending December 31, 2021 were 80,126 vehicles, down 13.6% (12.6k units) from the preceding quarter ending September 31, 2021 and 37.6% (48.3k units) from the quarter a year ago ending December 31, 2020, the company said.
Wipro share price plunged 6% on Thursday after the company Q3FY22 earnings failed to beat street estimates. Wipro posted a consolidated net profit of Rs 2,969 crore for the December 2021 quarter, almost flat compared to the year-ago period. Wipro’s revenue from operations rose 29.6% to Rs 20,313 crore as compared to Rs 15,670 crore in the same quarter last year. On Thursday, Wipro’s share price fell over 6% to Rs 648 per share.
The short term trend of Nifty continues to be positive. There is a possibility of Nifty reaching another crucial resistances of around 18340 and 18600 levels in the next one week. The formation of unfilled opening upside gap of Wednesday could hint at another 1-2 such upside gaps in the short term. Immediate support is placed at 18090 levels, said Nagaraj Shetti, Technical Research Analyst, HDFC Securities.
Nifty overall trend is positive and need to hold above 18181 for up move towards 18300 then higher zones whereas major support can be seen at 18081 then 18000 zones, said Motilal Oswal Financial Services Ltd.
Trading Range: Expected wider trading range: 18081 to 18350/18400 zones
Bank Nifty overall trend is likely be to positive and now it needs to hold above 38500 zones for an up move towards 39000 then 39250 zones, whereas support can be seen at 38250 zones. Option traders are suggested to trade with nearby Call like 38800, 38900 strikes or Bull Call Ladder Spread if it holds above 38500 zones, said Motilal Oswal Financial Services.
Wipro board approved interim dividend of Re 1 per equity share of par value Rs 2 each to the Members of the Company as on January 24, 2022, being the Record Date. The payment of Interim Dividend will be made on or before February 5, 2022, Wipro said.
The index seems to be in the midst of a jubilant wave and en route to 18500 as the next level of target and resistance. With a good support at 17800, traders can use intraday dips or corrections to accumulate long positions on the Nifty.
~ Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments
Infosys share price soared on Thursday morning, a day after the Information Technology major reported healthy quarterly results, beating street estimates. The Bengaluru-based IT company not only reported a strong 12% on-year growth in net profit, but it also raised its revenue guidance for the fiscal year to 19.5-20% from 16.5-17.5% earlier. Seeing the strong earnings growth of Infosys, analysts remain bullish on the stock, raising target prices upward for the firm. On Thursday morning, Infosys' share price was up 1.62%, trading at Rs 1,908 per share.
The trend deciding level for the day is 18190. If NIFTY trades above this level then a further rally may be witnessed up to 18250-18290-18350 levels. However, if the index trades below 18190 levels, one may see some profit booking initiating in the market, which may correct up to 18150-18090-18050 levels, said Axis Securities.
Bears made a comeback on Dalal Street as Sensex dipped 44 points to 61,105.06. Nifty held 18,200 despite dropping 9.55 points or 0.05%.
Wipro was the top loser in the Sensex pack after share price plunged 5% on Thursday. The IT services major on Wednesday posted a consolidated net profit of Rs 2,969 crore for the December 2021 quarter, and said it has logged strong performance in revenues and order bookings.
Nifty finds support around 17950 while 18400 will act as resistance. Bank Nifty finds support around 38250 while 39150 will act as resistance on the upside, said IIFL Securities.
The combination of weakening growth, in-line inflation and Omicron fears may potentially delay the monetary policy normalization in India. The Union Budget is the only Big event before the next MPC. Though a reverse repo rate hike is still on the table in Feb'22, it may be postponed to Apr'22 as well, said Nikhil Gupta, Chief Economist, Motilal Oswal Financial Services Ltd.
Indian equity benchmarks opened flat on Thursday (January 13) amid mixed global cues. The Sensex is up 150 points at 61,300, Nifty 50 was trading 0.28% higher at 18,263.
Shares price of Tata Consultancy Services (TCS) surged 1.5% on Thursday after the IT giant on Wednesday reported a consolidated net profit of Rs 9,769 crore for the October-December quarter, up 1.5% sequentially, missing the Street’s expectations of Rs 9,988 crore.
Infosys gained 1.5% in early trade after the company reported a 12% jump on-year basis in net profit during the October-December quarter of the current fiscal year, beating street estimates. India’s second-largest information technology company's revenue rose to Rs 31,867 crore against Rs 25,927 in the year-ago period.
Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Lucknow: Petrol and diesel prices were the same on January 13 across the country. 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. Public sector oil marketing companies (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.
Benchmark indices edged higher in pre-open trading session on Thursday. While Sensex was up 289.80 points or 0.47% at 61439.84, the Nifty was up 22.40 points or 0.12% at 18234.70.
India's industrial growth, based on the Index of Industrial Production (IIP), slowed down to 1.4 percent in November 2021 from 4% the previous month. After several months of high growth thanks to a low base, IIP growth for November 2021 is the lowest in nine months, according to the data released on January 12 by the National Statistical Office.
NTPC: Delhi Electricity Regulatory Commission (DERC) has asked the state government to deallocate allocate Delhi’s share of 206 megawatt (MW) power from NTPC’s gas-based generating stations, given that power from these units are very expensive. Deallocation would mean stopping the procurement of power from the units.
Telecom stocks: Telecom operators Vodafone Idea Ltd (VIL), Tata Teleservices Ltd and Tata Teleservices (Maharashtra) Ltd (TTML) will not become public sector undertakings after their interest payable on dues are converted into government equity, the communications ministry said on Wednesday.
The Nifty has now resumed its intermediate uptrend after recently crossing the previous intermediate high of 17640. On the daily chart, we can see that the Nifty has made higher bottoms at 17146 and 17655 recently. With momentum readings like the 14-day RSI in rising mode and not overbought, we believe there is scope for more upsides in the coming weeks as the Nifty attempts to take out the current life high at 18605.
Retail inflation jumped to a six-month high of 5.59 percent in December 2021. The latest Consumer Price Index (CPI) inflation print is 68 basis points higher than the November 2021 level of 4.91 percent. Despite the sharp increase in inflation in December 2021, the average for the last quarter of 2021, at 5.0 percent, is marginally lower than expected. The Reserve Bank of India had forecast CPI inflation would average 5.1 percent in October-December 2021.
US stock indexes rose on Wednesday after data showed that while US inflation was at its highest in decades, it largely met economists' expectations, allaying some fears that Fed would have to pull back support even more forcibly than already expected. The Dow Jones Industrial Average rose 0.11%, to 36,290.32, the S&P 500 gained 0.28%, to 4,726.35 and the Nasdaq Composite advanced 0.23%, to 15,188.39.
IT services major Wipro on Wednesday posted a consolidated net profit of Rs 2,969 crore for the December 2021 quarter, and said it has logged strong performance in revenues and order bookings. The net profit attributable to shareholders in the year-ago period had stood at Rs 2,968 crore. On a sequential basis, its net profit was up 1.3 per cent. Its revenue from operations grew 29.6 per cent to Rs 20,313.6 crore, from Rs 15,670 crore in the quarter ended December 2020.
Infosys reported a 12% jump on-year basis in net profit during the October-December quarter of the current fiscal year, beating street estimates. India’s second-largest information technology company Infosys reported a net profit of Rs 5,809 crore, against Rs 5,197 crore during the same period last year. Revenue rose to Rs 31,867 crore against Rs 25,927 in the year-ago period.
Sensex and Nifty continued to march higher on Wednesday, marking the fourth consecutive day of gains. S&P BSE Sensex zoomed 533 points or 0.88% to close at 61,150 while the NSE Nifty 50 index added 156 points or 0.87% to end at 18,212. Ahead of the weekly futures and options expiry session, SGX Nifty was up more than 100 points, suggesting a positive start to the day’s trade. Global cues are mixed as Dow Jones, S&P 500, and the NASDAQ closed in green but Asian markets failed to mirror the up-move. Three major IT companies reported their earnings yesterday, which is likely to decide the momentum for the rest of the week.
Tata Consultancy Services (TCS) has announced a buyback valued at Rs 18,000 crore at Rs 4,500 per share. The buyback price is at a premium of 16.7 per cent over the today’s closing price of the stock. In today’s trade, Tata Consultancy Services (TCS) share price ended 1.5 per cent down at Rs 3,857.25 apiece. The board of directors of the company has approved to repurchase up to 4 crore shares.
The market capitalisation of BSE-listed companies reached another fresh record on Wednesday, rallying to a lifetime high of over Rs 277.22 lakh crore. Investors’ wealth also soared by Rs 6,08,024.55 crore in four days. Sensex has jumped 1,548.2 points in foour days. Tracking this optimism, the market capitalisation of BSE-listed firms jumped to an all-time high of Rs 2,77,22,916.43 crore on Wednesday.
Tata Consultancy Services (TCS) on Wednesday reported a consolidated net profit of Rs 9,769 crore for the October-December quarter, up 1.5% sequentially, missing the Street’s expectations of Rs 9,988 crore. The company reported a margin contraction of 60 basis points at 25% against 25.60% in the preceding quarter, impacted by increased focus on hiring and retention of talent.
Trends on SGX Nifty indicate a positive start for the broader index in India, with a gain of 126.50 points or 0.69 percent. The Nifty futures were trading around 18,342.50 level on the Singaporean Exchange.