Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic indices ended deep in red on Wednesday falling below the crucial levels on the monthly F&O expiry day. The bloodbath on the Dalal-street pulled all the broader and sectoral indices down. The BSE Sensex crashed 773.69 points or 1.27% to 60,205.06 and NSE Nifty 50 tanked 226.35 pts or 1.25% to 17,891.95. Meanwhile, Adani group stocks fell 2-6% intraday after Hindenburg Research said that it holds short positions in Adani Group companies through U.S.-traded bonds and non-Indian-traded derivative instruments. In the sectoral indices, Bank Nifty fell 2.54%, Nifty PSU Bank tanked 3.58%, Nifty IT dropped 0.90% and Nifty Pharma dipped 1.22%.
Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market News Highlights Wednesday January 25
The top gainers of the BSE Sensex were Hindustan Unilever Ltd (HUL) (up 1.14%), Maruti Suzuki (up 0.96%), Tata Steel (up 0.54%), NTPC (up 0.39%) and Sun Pharma (up 0.38%) while State Bank of India (SBIN) (down 4.30%), IndusInd Bank (down 4.26%), HDFC Bank (down 2.78%), Axis Bank (down 2.02%) and HDFC (down 2.02%) were the losers.
In the sectoral indices, Bank Nifty fell 2.54%, Nifty PSU Bank tanked 3.58%, Nifty IT dropped 0.90% and Nifty Pharma dipped 1.22%.
The BSE Sensex crashed 773.69 points or 1.27% to 60,205.06 and NSE Nifty 50 tanked 226.35 pts or 1.25% to 17,891.95.
Gold futures on the multi-commodity exchange for February delivery were trading at Rs 56,853.00 down 116 points or 0.20% while Silver futures for March delivery were down 142 points or 0.21% at Rs 68,400.00 at 2:57 PM (IST).
Aurobindo Pharma, Bata India, Biocon, Bombay Dyeing & Mfg Company, Entertainment Network (India), GlaxoSmithKline Pharmaceuticals, Indigo Paints, TV18 Broadcast, Voltas and Zydus Wellness were among 70 stocks that hit 52-week lows. On the flip side, Anup Engineering, Bombay Super Hybrid Seeds, Gravita India, Kamdhenu, Landmark Cars, Radhika Jeweltech, Servotech Power Systems, Shradha Infraprojects, Sunflag Iron And Steel Company and Touchwood Entertainment were among 18 stocks that hit 52-week highs.
Kotak Bank, State Bank of India (SBIN), Tata Motors, Tata Steel, Maruti Suzuki, Reliance Industries Ltd, Hindustan Unilever Ltd (HUL), ICICI Bank, Axis Bank and HDFC Bank were the volume topper on BSE. Shradha Infraprojects, Bliss GVS Pharma, Mohit Industries, Nazara Technologies, Goyal Aluminiums, Fiberweb (India), Cartrade Tech, Ambuja Cements, Tatva Chintan Pharma Che and Servotech Power Systems were the Volume gainers on NSE.
Bajaj Auto, Maruti Suzuki, Hindustan Unilever (HUL), Hindalco, Hero Motocorp, Tata Steel and JSW Steel were the gainers while Adani Ports, State Bank of India (SBI), Adani Enterprises, IndusInd Bank, HDFC Bank, ICICI Bank, HDFC, Axis Bank, Apollo Hospital and Larsen & Toubro were the losers.
The most active NSE equities were Zomato, State Bank of India (SBI), Ambuja Cement, Adani Ports, Maruti Suzuki, Adani Enterprises, Reliance Industries Ltd, Axis Bank, Tata Motors and ICICI Bank.
Bank Nifty tanked 1193 points to 41,540.30 amid negative sentiment in the domestic market. All constituents of Bank Nifty were trading in red with Kotak Bank, Bandhan Bank, Axis Bank, ICICI Bank and IDFC First Bank being the top laggards.
Adani group stocks fell on Wednesday after Hindenburg Research said that it holds short positions in Adani Group companies through U.S.-traded bonds and non-Indian-traded derivative instruments, sending shares of companies sliding. The short-seller said seven Adani-listed companies have an 85% downside on a fundamental basis due to sky-high valuations and that “key listed Adani companies have also taken on substantial debt” which has “put the entire group on precarious financial footing”. Adani Enterprises shares fell 2.68% to Rs 3350.40, Adani Ports slipped 6.24% to Rs 713.40, Adani Power dropped 4.51% to Rs 262.40, Adani Transmission tanked 4.29% to Rs 2638.00, Adani Green Energy was down 1.84% to Rs 1878.35, Adani Total Gas was down 3.55% to Rs 3747.65 and Adani Wilmar dropped 4.41% to Rs 547.90.
All the broader market indices were trading lower, Nifty 100 fell 1.14%, Nifty Midcap 50 was down 1.41%, Nifty Smallcap 100 was down 1.41%, Nifty Large Midcap 250 was down 1.13% and Nifty Total Market down 1.11%.
All the sectoral indices are trading in red with Bank Nifty falling 750 pts or 1.8% to 41,966.35, Nifty IT falling 0.61%, Pharma slipped 1.03%, Nifty Realty dipping 1.51% and Nifty PSU Bank falling most by 3.38%.
The volatility index, India VIX rose 7.26% to 14.65 on Wednesday as domestic indices crashed 1%.
Nifty Bank index declines 1.7%, dragged by Bank of Baroda, PNB, SBI
“The 18200 Nifty has become a major resistance level which is keeping the Nifty iAn the narrow band of 17800-18200. Now, it appears that a major trigger is necessary to break this range either on the upside or the downside. Two major events of February 1st – the Union Budget and the Fed decision on interest rate – have the potential to break this narrow range. A good budget and positive commentary from the Fed can break the upper band. On the contrary, any negative budget proposal like raising the rate of Long Term Capital Gains Tax or a worse-than- expected hawkish Fed can break the lower end of the range. Let’s wait for the actual outcome,” said VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
The Sensex fell 495.45 points or 0.81% to 60,483.30 and the Nifty 50 dipped 168.55 pts or 0.93% to 17,949.75. The Bank Nifty slipped 1.69% to 42,009.35 and Nifty Pharma dropped 1.02% to 12,465.10. Adani Ports, State Bank of India, Adani Enterprises, IndusInd Bank and Larsen & Toubro were the top losers while Maruti, Hindalco, and HUL were the gainers.
Nazara Technologies shares rose 3.70% to Rs 633.90 after the gaming and sports media platform clocked a 76% on-year growth in consolidated profit at Rs 18.1 crore for the quarter ended December FY23 despite the weak operating performance, led by topline and other income. Revenue from operations at Rs 315 crore grew by 69.4% compared to the year-ago period. Operating profit increased by 3.4% on-year to Rs 30.1 crore and margin fell 6% on-year to 9.6% for the quarter.
TVS Motor shares rose 2.40% to Rs 1009.90 after the two-and-three-wheeler manufacturer clocked a 22% on-year growth in standalone profit at Rs 352.8 crore for the December FY23 quarter despite higher input costs. Revenue from operations grew by 14.7% to Rs 6,545 crore compared to the year-ago period, with volume rising 0.09% to 8.79 lakh on-year. Operating profit at Rs 659 crore increased by 16% with a margin expansion of 10 bps at 10.1% compared to the same period last year. The board members have declared an interim dividend of Rs 5 per share.
Pidilite Industries Ltd shares fell 2.33% to Rs 2326.09 after the adhesives, sealants and construction chemicals manufacturer reported a 14.3% on-year decline in consolidated profit at Rs 307.7 crore for the quarter ended December FY23, impacted by a lower operating margin
Yes Bank shares fell 1.92% to Rs 17.85 after the Supreme Court Tuesday set aside the Allahabad High Court order refusing to entertain the Yes Bank plea challenging police investigation into an FIR lodged by the Essel Group in connection with the bank-Dish TV dispute on pledging of shares. A bench comprising Chief Justice DY Chandrachud and Justices PS Narasimha and JB Pardiwala also directed that its earlier order of November 30, 2021, staying police investigation in the FIR shall remain in operation till the high court has disposed of the Yes Bank‘s plea against the FIR.
SBI Card shares fell 2.96% to Rs 724.10 after the firm missed street estimates on profitability, due to higher finance costs. The company on Tuesday reported a 32% rise in its net profit for the December quarter to Rs 509 crore, owing to a strong growth in credit card receivables. The pure-play credit card company, promoted by SBI, had posted a net profit of Rs 386 crore during the year-ago period.
The top gainers of the Nifty were Tata Motors, Maruti Suzuki, Cipla, Bajaj Auto and Hero Motocorp while Adani Enterprises, HCL Tech, Adani Port, Larsen & Toubro and IndusInd Bank were the top losers.
Domestic indices opened in the red. The Nifty 50 fell 45.45 points or 0.25% to 18,072.85 and Sensex dropped 102.68 pts or 0.17% to 60,876.07.
Indices ended the pre-opening session in the red. The NSE Nifty 50 fell 24.95 points or 0.14% to 18,093.35 and BSE Sensex slipped 144.02 pts or 0.24% to 60,834.73.
The US markets ended mixed on Tuesday. The Dow Jones Industrial Average (DJIA) rose 104.40 points or 0.31% settling at 33,733.96, S&P 500 fell 2.86 pts or 0.07% at 4,016.95 and Nasdaq dropped 30.14 pts or 0.27% at 11,334.27.
Asia-Pacific shares traded mixed on Wednesday, taking the lead from Wall Street’s struggle for direction. In South Korea, the Kospi rose 1.3%, while the Kosdaq climbed 1.16% in its first hour of trade. Japan’s Nikkei 225 dipped 0.22% and the Topix shed 0.06%. Australia’s S&P/ASX 200 declined 0.43% as investors await the release of the country’s inflation reading. Markets in China and Hong Kong are closed for a holiday.
“The Nifty bears were active around the 18200 level, and the index remained under pressure throughout the day. The index is stuck in a broad range between 17900 and 18200, and a break on either side will lead to trending moves. The options data shows aggressive writing at the 18200CE strike, and the lower-end support is visible at 18000PE, where the put side has the most open interest.” – Rupak De, Senior Technical Analyst at LKP Securities.
“The Bank Nifty index failed to surpass the hurdle of 43000, where the highest open interest is built up on the call side. The index's immediate downside support is visible at 42,500, which if breached will result in additional selling pressure. The index remains in the range-bound territory between 42500 and 43000, and a break on either side will lead to trending moves.” – Kunal Shah, Senior Technical Analyst at LKP Securities.
“Mirroring robust global peers, the domestic market extended previous gains driven by auto stocks. However, due to selling pressure in banking shares, the indices anchored close to the flatline. Auto stocks were in focus prior to the earnings results of the sector major. Hopes of a soft landing of the US economy along with the anticipation of a lesser rate hike boosted global bourses.” – Vinod Nair, Head of Research at Geojit Financial Services.
“Technically Nifty has formed a bearish candle in the daily chart. As it closed on Tuesday near to Monday's level, the overall structure shows that the index is likely to witness consolidation or profit booking from higher levels. OI Data indicates, on the call side the highest OI is witnessed at 18300 followed by 18400 strike prices while on the put side, the highest OI was at 18000 strike price followed by 17900. On the other hand, Bank nifty has support at 42200 levels while resistance is placed at 43100. Traders are bracing up for more volatility as monthly expiry draws near Long-term investors may, with calculated risk, grow their exposure to ETFs in addition to stocks.” – Om Mehra, Equity Research Analyst, Choice Broking.