Share Market News Today | Sensex, Nifty, Share Prices Highlights: Dalal Street benchmark indices danced between gains and losses for most of the day before closing in the red. S&P BSE Sensex fell 143 points or 0.24% to close at 58,644 points while NSE Nifty 50 fell 43.9 points or 0.25% to end at 17,516. Bank Nifty closed 0.57% lower and broader markets mirrored the weakness. India VIX fell 1.36%. Sun Pharma was the top Sensex gainer, up 1.09%, followed by Asian Paints, Tata Steel, and Ultratech Cement. State Bank of India, Mahindra & Mahindra, and Bajaj Auto were the other top laggards.
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Domestic markets continued to slip on Friday. S&P BSE Sensex fell 143 points or 0.24% to close at 58,644 points while NSE Nifty 50 fell 43.9 points or 0.25% to end at 17,516. Sun Pharma was the top Sensex gainer, up 1.09%, followed by Asian Paints, Tata Steel, and Ultratech Cement. State Bank of India, Mahindra & Mahindra, and Bajaj Auto were the other top laggards. Bank Nifty closed 0.57% lower and broader markets mirrored the weakness. India VIX fell 1.36%. Among sectoral indices, Nifty Metals, Nifty FMCG, and Nifty IT closed with gains.
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Sensex fell 143 points or 0.24% on Friday to close at 58,644 while Nifty 50 index dropped 43.9 points or 0.25% to settle at 17,516.
Metal Platforms, the parent company of Facebook saw its share price tank a massive 26.39% on Thursday. Meta stock price nosedived as investors reacted to the company’s quarterly earnings. With the sharp fall in Meta stock price, $251 billion was wiped off the company’s market value. This is more than the entire market capitalization of India’s largest listed company Reliance Industries Limited. Technology stocks on Wall Street are facing the heat with all Apple, Amazon, Netflix, Google, and Microsoft trading with losses year-to-date. Facebook shares have tanked nearly 30% so far this year to trade at $237.76 per share, with the majority of the losses coming on Thursday.
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India VIX, the volatility gauge, was below 19 levels on Frida afternoon, falling more than 1.7%. Headline indices traded with losses.
Indian conglomerate Aditya Birla Fashion announced on Friday its plans to set up a new unit for foraying into a Direct to Consumer (D2C) business. The company said through this venture it plans to build a portfolio of new-age, digital brands across categories such as fashion, beauty and other allied lifestyle segments. The company will also be looking in to acquire promising and scalable D2C brands in future.
BSE Sensex and Nifty 50 were trading nearly half a per cent down on Friday, dragged by losses in index heavyweights such as ICICI Bank, Reliance Industries Ltd (RIL), Housing Development Finance Corporation (HDFC), Tata Consultancy Services (TCS), and Kotak Mahindra Bank among others. So far in the trade, the 30-stock index hit a day’s low of 58,464.36, while Nifty 50 gave up 17,500 levels. Despite this, State Bank of India (SBI) share price hit a fresh 52-week high of Rs 546.35 apiece, surpassing its previous high of Rs 545 apiece. While no stock hit a 52-week low on S&P BSE Sensex so far on Friday.
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Rakesh Jhunjhunwala’s favorite Titan Company share price rallied 16.6 per cent in the October to December quarter of the current fiscal. During the quarter, the company reported a net profit of Rs 987 crore, a 136 per cent on-year increase. The consumer discretionary company posted a 30.6 per cent on-year growth in revenue from operations to Rs 9,515 crore. In the last six month, Titan stock has soared 38.4 per cent, and 65 per cent in one year. “The festive purchases in the quarter have driven Titan’s strong growth in all businesses of the company and the quarter has turned out to be one of the best quarters in terms of growth and profitability,” Managing Director CK Venkataraman said.
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Sensex was down nearly 150 points or 0.25% on Friday while the NSE Nifty 50 is down 40 points or 0.24% holding above 17,500.
Sensex may continue its stellar run and hit a staggering 1,00,000 points during the financial year 2027 or sometime in late 2026, said Jefferies’ Global equity strategist Chris Wood in his weekly Greed & Fear note. Although Chris Wood said that his target for the benchmark index may seem as an “aggressive assumption”, he added that it “is now eminently achievable on a five-year view assuming a trend 15% EPS growth and that a five-year average multiple of 19.4 is maintained”. BSE Sensex started Friday’s trading session at 58,918; it is down 5.6% from an all-time high of 62,245 points.
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Manyavar clothing brand’s parent Vedant Fashions IPO opens for subscription today, for a Rs 3,149-crore public issue comprising entirely an offer for sale of shares by promoters and existing shareholders. Ahead of the IPO, 75 anchor investors poured in Rs 944.75 crore into Vedant Fashions – a company that owns multiple ethnic wear brands, including Manyavar. Vedant Fashions shares in the unlisted market were trading at a premium of Rs 40-50, down from Rs 80-90 premium quoting last week. The IPO opens today and will remain available for bidding till February 8 next week. Post-IPO, the promoter shareholding in the company will fall to 84.9% from the current 92.4%. Investors can bid for a minimum of 17 equity shares.
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It was a volatile day for gold but today’s jobs data could make it even more volatile. US dollar weakness provided strong tailwinds but at the opening of the US market, there was strong selling pressure when gold dropped to $1788 before buyers stepped in and pushed prices above $1800. There was no evident reason for such a fall in opening trade of the US and we can see that gold has strong support at the bottom as buyers thought it was a good opportunity to go long when prices crashed below $1790. One of the reasons for the jittery in the opening trade would be the precision US military strike in Syria which killed the leader of ISIS.
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Titan company limited's share price was down 0.83% on Friday morning as the top Sensex laggard, a day after the company reported its quarterly earnings.
Banknifty was first to go in green. As expected, Nifty has held 17,500. Expected 17,650 & 17,800 from here. Stay Long. Stay Bullish.
~ Rahul Sharma, Director & Head – Research, JM Financial.
Investors remained upbeat in the auto space with heavyweights showcasing some significant up move, whereas the Banking and IT sector witnessed some cool off post strong performance since the last couple of trading sessions. There could be some thematic changes that could be seen soon. Hence, it is advised to focus more on the stock-specific front rather than broader indices.
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“The market is still not sure of the direction it would like to pursue. 17800 is a resistance and 17200 is a support. Either level needs to be taken out in order to see a directional move. Until then the action is in trading the intraday volatility. Extreme caution should be exercised as the stops can be severe,” said Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments.
“For the coming session, the trading spot band is between 17480 and 17830, which means further upsides are likely once the immediate resistances of 17830 are taken out and weakness could emerge if the supports of 17480 are broken,” said Raushan Kumar, Derivative Analyst, IIFL Securities.
Sensex opened flat on Friday morning, dancing between gains and losses. Nifty 50 index was holding above 17,500. Bank Nifty was just shy of 39,000.
Sensex was up 350 points in the pre-open session while NSE Nifty 50 was up with marginal gains.
Nifty futures on the Singapore exchange were up nearly 70 points now. SGX Nifty was earlier trading just 40 points higher.
BSE-listed companies such as Tata Steel, Shree Cement, Bank of India, InterGlobe Aviation, One 97 Communications (Paytm), Siemens, Aditya Birla Fashion, Alkem Laboratories, Astral, Antony Waste Handling Cell, Birla Corporation, CMS Info Systems, City Union Bank, Devyani International, Godrej Agrovet, Jubilant Pharmova, Mahindra Lifespace Developers, Minda Corporation, Monte Carlo Fashions, REC, Sun Pharma Advanced Research Company, Thermax, Vadilal Industries, and Zee Learn will release quarterly earnings on February 4.
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The short-term uptrend status of Nifty seems to have reversed down. The intense follow-through weakness from here could open more downside in the near term. Confirmation of reversal is likely to drag Nifty down to 17000-16800 levels. Immediate resistance is placed at 17650 levels.
~ Nagaraj Shetti, Technical Research Analyst, HDFC Securities
“The correction should be over today if we don’t sustain below 17500. US Futures are trading positive & which should help us bounce back. Risk-reward favorable for longs at 17500, stop-loss at 17300. Levels on the way-up 17650 and 17800. Bank Nifty is relatively better placed at 39000+,” said Rahul Sharma, Director & Head – Research, JM Financial.
Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Lucknow: Petrol and diesel prices continue to remain the same on February 4. 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.
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“In the short term, we expect some time-wise correction where markets could trade within a broad range before resuming its broader uptrend. Hence, from a short-term perspective, traders need to be very selective and avoid aggressive positions. The immediate supports for the index are placed around 17500 and 17430 while 17700 and 17800 will be seen as immediate resistances,” said Ruchit Jain, Lead Research, 5paisa.com.
SGX Nifty was in the green on Friday morning. Nifty futures were up 40 points, hinting at a positive start to the day's trade.
Manyavar-owner Vedant Fashions IPO will open for subscription on 4th February, Friday. The issue will remain open for bidding till Tuesday, 8th February. The Rs 3,150-crore public issue will be entirely an offer for sale (OFS) of 3.63 crore equity shares by existing shareholders of the company. The price band of the issue has been fixed at Rs 824-866 per share. In the primary market, shares were seen quoting at Rs 44 per share premium, against the IPO price. In the grey market, Vedant Fashions shares were trading at Rs 890 apiece, upside of nearly 3 per cent, according to people who deal in shares of unlisted companies. Vedant Fashions IPO will be the third public issue of 2022 after AGS Transact Technologies and Adani Wilmar. There are no listed companies in India that engage in a business similar to that of the company.
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