Closing Bell: Sensex falls for 3rd day, ends 314 pts lower; Nifty below 21,500; Sobha soars 10%, IEX tanks 7%
05:06:32 PM IST, 18 January 2024
Nifty Bank falls for 3rd day, closes below 46,000; next support seen at 45,500
The Nifty Bank closed in the red for the third straight day to close below 46,000 on Thursday, tracking muted global cues. It closed 350 points lower at 45,713. The Nifty50 fell over 100 points to close at 21,462. Top losers in the Nifty Bank index include HDFC Bank, AU Small Finance Bank, IndusInd Bank and Bandhan Bank.
The Nifty slipped below the rising trendline on the daily chart, suggesting a bearish trend reversal. Besides, the index has fallen below the critical near-term moving average. Now, the trend is likely to remain weak as long as the index stays below 21,550. A decisive move above 21,550 might weaken the bears; until then, bears might control the market. On the lower end, support is placed at 21,400. A drift below 21,400 might take Nifty for a revisit to 21,250-21,200.
– Rupak De, Senior Technical Analyst, LKP Securities
The benchmark indices exhibited recovery from the day’s low and ended in red amid weak global cues, as investors are trimming bets on rapid FED cuts due to strong US retail sales and the resulting rise in global bond yields. Furthermore, oil price advances and rate escalation risks have led to disruptions in global shipping and crude production. The broader market continued its selling pressure given the elevated valuation and profit booking with an aim for sector rotation.
– Vinod Nair, Head of Research, Geojit Financial Services
04:05:12 PM IST, 18 January 2024
IndusInd Bank Q3 Results: PAT at Rs 2301.5 crore Vs ETNOW poll of Rs 2,272 crore
Rupee traded flat, fluctuating between 83.07 and 83.17, amid a stable dollar index around 103$. The range-bound session persisted after the last two days of weakness in the rupee from the 82.80 zones, where it faced resistance. The recent appreciation of the dollar kept pressure on the rupee, which continues to encounter resistance in the 82.80-82.90 zones. Broadly, the prices remain within the range of 82.80-83.30.
– Jateen Trivedi, VP Research Analyst, LKP Securities
03:42:26 PM IST, 18 January 2024
Rupee rises 2 paise to 83.12 (provisional) against US dollar.
03:41:17 PM IST, 18 January 2024
Top gainers & losers in closing trade
03:34:27 PM IST, 18 January 2024
Closing Bell: Sensex falls for 3rd day, ends 314 pts lower; Nifty below 21,500; Sobha soars 10%, IEX tanks 7%
03:24:32 PM IST, 18 January 2024
Stock Market LIVE Updates: Just In | Haldiram’s eyes majority stake in smaller rival Pratap Snacks
03:12:58 PM IST, 18 January 2024
Polycab India Q3 Results: Consolidated PAT rises 15% YoY to Rs 413 crore; revenue up 17%
Consolidated revenue from operations grew nearly 17% YoY to Rs 4,340 crore.
03:06:05 PM IST, 18 January 2024
Stock Market View | Amar Ambani, Executive Director, YES Securities on Budget expectations
But we can expect the government to continue with its agenda of boosting capex as a percentage of total expenditure. We also foresee non-government enterprises incrementally cajoled through incentives to help lift the private capex cycle.
Talking of fiscal prudence, the government is likely to be aggressive on its fiscal deficit target, especially in the wake of buoyant tax collections. We can expect a commitment to achieve a 4.6% fiscal deficit in FY26. Given the inclusion of Indian bonds in global indices, this seems imperative.
Income support to farmers in the last instance was introduced just prior to the general election. This time around, given the flurry of subsidies in various forms since Covid, including distributing food grains, and coupled with the strong mandate in recent state elections, we don’t foresee the government announcing any material sops on the socio-developmental front.
03:04:51 PM IST, 18 January 2024
Jaindal Stainless Q3 Results: Cons Pat at 691 crore vs Rs 764 crore; down 9.5% QoQ
02:42:39 PM IST, 18 January 2024
Tata Communications Q3 Results
Cons PAT at Rs 44.8 crore vs Rs 221 crore QoQ; revenue at Rs 5,633 crore
02:41:31 PM IST, 18 January 2024
IndiaMART Q3 Results: Cons PAT at Rs.81.9 crore vs Rs.113 crore YoY
02:26:34 PM IST, 18 January 2024
Ramkrishna Forgings Q3 Results: PAT at ₹86.9 crore; revenue at ₹1057.8 cr
02:20:56 PM IST, 18 January 2024
Stock Market LIVE Updates: Emkay Global pegs Nifty December target at 24,000
Our 2024 year-end Nifty target of 24,000 imputes an 11% return for the benchmark, while we expect SMIDs to outperform. Our model portfolio focuses on large-/mid-caps and we are UW on Financials and OW on Consumer Discretionary. Key themes for 2024 are rate cuts, the budget and reform, and probable revival in mass segment spending. Earnings growth should continue in the mid-teens with rising ROEs. SMID earnings growth should exceed the Nifty and drive further outperformance.
01:50:20 PM IST, 18 January 2024
Oil up on OPEC demand estimate, Mideast tensions and US output
Brent crude futures gained 49 cents, or 0.6%, to $78.37 a barrel by 0740 GMT, while U.S. West Texas Intermediate crude futures rose 70 cents, or 1.0%, to $73.26.
01:28:40 PM IST, 18 January 2024
Sensex Today | Stock Market LIVE Updates: Intellect launches AI-led innovation centre in GIFT City.
01:21:32 PM IST, 18 January 2024
Sensex Today | Stock Market LIVE Updates: DRC Systems India approved issue of bonus shares in ratio of 2:1
01:11:12 PM IST, 18 January 2024
Sensex Today | Stock Market LIVE Updates: Ashok Leyland bags order worth of Rs. 522 crores for 1225 Buses from Karnataka State Transport Undertakings
01:09:53 PM IST, 18 January 2024
Sensex Today | Stock Market LIVE Updates: Block deal in Max Healthcare > 43.9 lakh shares traded
01:09:45 PM IST, 18 January 2024
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12:47:50 PM IST, 18 January 2024
Japan’s Nikkei ends flattish on caution over market overheating
The Nikkei inched down 0.03% to close at 35,466.17, after rising as much as 0.7% earlier in the session.
The broader Topix edged 0.17% lower at 2,492.09.
12:34:57 PM IST, 18 January 2024
Sensex Today | Stock Market LIVE Updates: Canara Bank hires global IT infrastructure provider Kyndryl to upgrade and manage IT operations
12:19:45 PM IST, 18 January 2024
South Indian Bank Q3 Results
12:16:51 PM IST, 18 January 2024
Dhampur Bio Organics Q3 Results
- Consol loss at Rs 5.64 crore versus profit at Rs 14.94 crore year ago
- Cons revenue from operations at Rs 425 crore versus Rs 696 crore year ago
12:06:34 PM IST, 18 January 2024
Sensex Today | Stock Market LIVE Updates: Sobha surges 11%, top performing realty stock
12:04:42 PM IST, 18 January 2024
Sensex Today | Stock Market LIVE Updates: Raminfo board approves preferential issuance to raise up to Rs.62 crores
11:48:23 AM IST, 18 January 2024
Sensex Today | Stock Market LIVE Updates: SBI sets 8.34% coupon for perpetual bonds: Bankers
The country’s largest lender has accepted bids worth 50 billion rupees ($601.31 million) after inviting bids for the perpetual bond issue earlier in the day. The bonds have a call option at the end of the tenth year.
The lender had raised 31.01 billion rupees through perpetual bonds in July at a coupon of 8.10%.
11:27:54 AM IST, 18 January 2024
Sensex Today | Stock Market LIVE Updates: Shares of Oracle Financial Services Software rallied 20% to hit a new 52-week high at Rs 6,098 in Thursday’s trade on BSE after the firm reported a 69.4% year-on-year (YoY) jump in net profit at Rs 740.8 crore for the third quarter that ended December 31, 2023.
11:13:49 AM IST, 18 January 2024
Sensex Today | Stock Market LIVE Updates: Bajaj Finance to issue 5-year bonds – bankers
11:03:48 AM IST, 18 January 2024
Sensex Today | Stock Market LIVE Updates: Shakti Pumps (India) to raise funds for an aggregate amount of up to and not exceeding Rs 200 crore
10:49:53 AM IST, 18 January 2024
Sensex Today | Stock Market LIVE Updates: Goodluck India raised close to Rs. 200 crores in QIP round
Goodluck India announced successful closure of its Qualified Institutional Placement (QIP) round. The company’s Board approved the issue and allotment of 21,27,659 equity shares to Qualified Institutional Buyers (QIBs) at an issue price of Rs. 940 per share at a premium of Rs 938 per share. The company proposes to utilise the proceeds from the issue to fund its working capital requirements and for general corporate purposes. It plans to utilise Rs 150 crore of the net proceeds towards its further estimated working capital requirements.
10:27:47 AM IST, 18 January 2024
Stock Market LIVE Updates | Taiwan’s Foxconn will partner with tech firm HCL Group for a semiconductor assembly and testing facility in India, the companies said on Thursday.
10:21:28 AM IST, 18 January 2024
Sensex Today | Stock Market LIVE Updates: Australian Premium Solar shares debut with 159% premium over issue price
After a bumper IPO response from investors, shares of Australian Premium Solar debuted with a premium of 159.3% on the NSE SME platform. The stock listed at Rs 140 as against an issue price of Rs 54. Ahead of the listing, the company’s shares traded with a premium of Rs 51 in the unlisted market.
10:18:39 AM IST, 18 January 2024
Stock Market LIVE Updates | Brokerage Take: Bernstein on HDFC Bank: Outperform | Target Rs 2,200
HDFC Bank shares slumped more than 8% on Wednesday – its biggest single-day drop since March 2020 – as concerns over the bank’s future profitability triggered a sharp sell-off.
The biggest concern is on the drivers for the net interest margin (NIM) surprise and the lack of a clear pathway to normalization.
A continued weak deposit growth could limit loan growth and/or eat into margins.
Improvement in operating metrics of the bank now appears to be more dependent on the operating environment rather than an automatic even if a gradual improvement story.
10:09:34 AM IST, 18 January 2024
Sensex Today | Stock Market Crash LIVE Updates | LTI Mindtree extends fall; check top losers from IT services pack
09:54:21 AM IST, 18 January 2024
Sensex LIVE Updates: SENSEX TUMBLES 750 POINTS!
09:47:15 AM IST, 18 January 2024
Gold near 5-week low as rate-cut optimism tapers
Spot gold edged 0.1% higher to $2,008.59 per ounce by 0347 GMT, a day after it fell to $2,001.72 – its lowest since Dec. 13.
U.S. gold futures rose 0.2% to $2,010.70.
09:45:32 AM IST, 18 January 2024
Sensex Today | Stock Market LIVE Updates: NHPC shares dropped 6% as the Indian government announced a 3.5% stake sale in the firm. The floor price has been set at Rs 66 per share, a discount of 10% on closing price on Wednesday.
09:35:44 AM IST, 18 January 2024
Sensex Today | Stock Market LIVE Updates: HDFC Bank declined as much as 3.7% in early trade, extending its post-earnings decline to the second session. Meanwhile, the stock has plunged nearly 12% in the last two sessions.
09:31:24 AM IST, 18 January 2024
Sensex Today | Stock Market LIVE Updates: Shares of India’s ICICI Prudential Life Insurance fell 10% on Thursday as weak demand led to a sharp fall in its new business margins. The life insurer, which reported third-quarter results the previous day, said its expected profit margin from new policies declined to 26.7% for the nine months to Dec. 31 from 32% a year earlier.
09:27:25 AM IST, 18 January 2024
Sensex Today | Stock Market LIVE Updates: Aarti Industries secures a 4-year supply contract worth over Rs 6,000 crore; stock surges 7%
09:26:13 AM IST, 18 January 2024
Rupee falls 2 paise to 83.16 against US dollar in early trade.
09:22:03 AM IST, 18 January 2024
Stock Market View: Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services
Investors may wait and watch for this turbulence to subside. The resilience in IT stocks in this crash is an indication of the strength of the sector. Apart from IT, large caps like RIL, ICICI Bank, L&T and Bharti have strength to tide over this turbulence.
Further dips in HDFC Bank will provide buying opportunities for long-term investors.
09:21:22 AM IST, 18 January 2024
Sensex Today | Stock Market LIVE Updates: Sun Pharmaceutical Industries Limited said on Wednesday it would buy all the shares of Taro Pharmaceutical Industries it does not already own for $43 per share in cash, effectively taking full control of its unit. Sun Pharma’s offer amounts to about $347.8 million, as per Reuters calculations, with the per share value at a 4.2% premium to Taro’s close on Wednesday.
09:20:49 AM IST, 18 January 2024
Sensex Today | Stock Market LIVE Updates | Earnings Impact | Shares of India’s LTIMindtree fell 9% in early trade on Thursday, a day after the IT services company reported a smaller-than-expected third-quarter profit. Consolidated net profit rose 16.8% to 11.69 billion rupees ($140.6 million), missing analysts’ estimates of 11.76 billion rupees, as per LSEG data.
09:20:22 AM IST, 18 January 2024
Sensex Today | Stock Market LIVE Updates: Most active stocks on NSE today
09:18:08 AM IST, 18 January 2024
Opening Bell: Sensex slides 500 points, Nifty below 21,450; LTIMintree tanks 9%, ICICI Pru 7%
09:07:18 AM IST, 18 January 2024
Sensex Today | Stock Market LIVE Updates: Pre-open session: Sensex slips over 400 points; Nifty below 21,400
08:52:34 AM IST, 18 January 2024
Sensex Today | Stock Market LIVE Updates | Stock in news: Aarti Industries
Aarti Industries secures 4-year supply contract worth over Rs 6000 crore with multinational conglomerate
08:45:17 AM IST, 18 January 2024
Sensex Today | Stock Market View: Prashanth Tapse, Senior VP (Research), Mehta Equities
Wall Street declined overnight as positive US economic data dampened hopes for March rate cuts. Despite robust retail sales, Nifty experienced its sharpest single-day fall in 18 months, sparking concerns about heightened risk. Technical analysis suggests NIFTY’s support at 21407 and hurdles at 21807, while options data indicate a potential 21100-22000 trading range. Six negative catalysts, including banking stock caution and global uncertainties, weigh on market sentiment. Notably, Nifty IT index resisted the sell-off, driven by strong Q3 results. Amid Q3 corporate results anticipation, a preferred trade advises buying Nifty and Bank Nifty within specified zones. Bullish prospects are highlighted for APOLLO TYRES, MAZGAON DOCK, TATA POWER, and INDIAN BANK. A standout buy recommendation is INDIAN BANK (CMP 440), with targets at 461/501 and aggressive 15-18 months targets at 651, accompanied by a stop below 347.
08:43:16 AM IST, 18 January 2024
Stock Market LIVE Updates | Rupee eyes steady open even as upbeat data drives US yields higher
- The Indian rupee is likely to open largely unchanged on Thursday, with an eye on the rise in U.S. Treasury yields after robust U.S. retail sales data prompted further moderation of bets on aggressive rate cuts by the Federal Reserve.
- Non-deliverable forwards indicate the rupee will open at around 83.14-83.15 to the U.S. dollar, barely changed from its previous closing at 83.1375.
- Retail sales in the U.S. rose 0.6% from the previous month in December, higher than the 0.4% expected by economists polled by Reuters, signalling the resilience of household spending.
- The dollar index climbed to its highest level in a month on Wednesday but was last quoted lower in Asia hours at 103.23.
08:10:13 AM IST, 18 January 2024
Sensex Today | Stock Market LIVE Updates: Asia stocks struggle as China drags, rate cut bets dwindle
Asian shares were off to a tepid start on Thursday, weighed down by a murky economic outlook in China and expectations the global rate easing cycle may not come as early as some had initially thought.
08:00:22 AM IST, 18 January 2024
Sensex Today | Stock Market LIVE Updates: Gold ticks up as dollar softens, yields fall
Gold prices edged higher on Thursday, helped by a softer U.S. dollar and lower Treasury yields, but hovered near five-week lows as investors tempered rate-cut optimism after hawkish comments from central bank officials and robust data.
07:51:41 AM IST, 18 January 2024
Sensex Today | Stock Market LIVE Updates: Dollar holds near one-month peak as dovish Fed bets recede
The dollar held close to a one-month peak versus major peers on Thursday after robust U.S. retail sales data overnight added to building expectations the Federal Reserve will not rush to lower interest rates.
07:24:41 AM IST, 18 January 2024
Sensex Today | Stock Market LIVE Updates: Quarterly earnings today
IndusInd Bank, Polycab, JSL and a slew of other companies will announce their third quarter results today.
07:24:49 AM IST, 18 January 2024
Sensex Today | Stock Market LIVE Updates: GIFT Nifty (Earlier SGX Nifty) signals a negative start
GIFT Nifty on the NSE IX traded lower by 162.50 points, or 0.75 per cent, at 21,416.50, signaling that Dalal Street was headed for negative start on Thursday.
07:24:59 AM IST, 18 January 2024
Sensex Today | Stock Market LIVE Updates: Tech View: Nifty charts call for sell on rise strategy
Nifty ended 460 points lower to form a red candle on the daily charts with a decisive break below the 20-day moving average of 21,629. Both price and momentum indicators are pointing toward weakness.
07:25:07 AM IST, 18 January 2024
Sensex Today | Stock Market LIVE Updates: Rupee settles 2 paise lower against US dollar
The rupee slipped 2 paise to settle at 83.14 against the US dollar on Wednesday amid massive selling in domestic equity markets and a strong greenback overseas.
