Sensex ends at day's low, sinks 470 pts; Nifty below 14,300; metals crack

Stock market updates: The S&P BSE Sensex hit an intra-day low of 48,404 today

4:21 PM

MARKET CLOSING COMMENT :: Shrikant Chouhan, Executive VP, Equity Technical Research at Kotak Securities

Unusual strength in the dollar index and sustained run up in the commodities have battered the sentiment of the equity market. Nifty/Sensex fell more than one percent during the day and made a low of 14222/48460. It has triggered selling in commodities and the Nifty Metal index closed 4.57% lower. Reliance Industries and HDFC Bank have supported the market otherwise it could have closed below the levels of 14200/48400. On a daily chart, Nifty/Sensex has formed bearish continuation formation following to a Doji star of formation on a weekly chart. As the market closed below the crucial support 14350/48800, Nifty could fall to 14100/48100 or 14000/47900 in next couple of days. On the higher side, 14350/48800 and 14460/49150 would be major hurdles. The strategy should be to trade on bounces and keep a final stop loss at 14470/49200 levels. Select buying is advisable between 14100 and 14000 (48100/47900) levels, strictly with a medium term view.

4:10 PM

MARKET CLOSING COMMENT :: Deepak Jasani, Head of Research, HDFC Securities

Indian equity benchmark indices witnessed profit taking for the second consecutive day on January 18 on the back of soft global markets. A second round of fall post 1410 Hrs took the Nifty down to close almost at its intra-day lows – the average value of the last half hour however was higher. At close, the Nifty was down 152.40 points or 1.06% at 14,281.30.

 

Volumes on the Nifty were in line with those of the previous two days. Among sectors, Metals, Pharma, PSU Bank, Media, Auto and Realty fell the most. Broader markets performed worse than the Nifty with smallcap and midcap indices down almost 1.8-2.1%.

 

The near term downtrend in the Nifty has gained momentum on Jan 18 even as the stocks (more so in small and midcap categories) seemed to have run out of steam. In the process the upgap made on Jan 11 has been filled. US markets are closed for Martin Luther King holiday on Monday. Hence our markets may not get any overnight cues from there. On the Nifty 14040-14215 band is the next support area. On rises 14358 could act as a resistance.

4:00 PM

TECH VIEW :: Ashis Biswas, Head of Technical Research, CapitalVia Global Research

The market manages to hold above the Nifty 50 Index support zone of 14170-14230. The technical factors are aligned to support a range-bound market movement in the coming week. Therefore, the short-term traders to use the rally to exit while buying any dip towards the support level around 14170-14230 (considered best practice in a volatile market). The market breadth to deteriorate, indicating a likelihood of higher volatility.

3:57 PM

MARKET CLOSING COMMENT :: Vinod Nair, Head of Research at Geojit Financial Services

The market has gotten choppy ahead of the upcoming Union Budget and due to weakness in an expensive global market. A good part of the economic gains is well factored in by the upside of the last 11 weeks. A short-term correction was being anticipated for some time, it will be welcome for the market on a long-term basis

3:54 PM

Market stats :: BSE m-cap slips to Rs 192.6 trillion after soaring as high as Rs 197 trillion

3:51 PM

Nifty Bank index declines over 400 pts

3:49 PM

BUZZING STOCK OF THE DAY :: ITC hits 11-month high

>> The stock hit an over 11-month high of Rs 221, up 1.4 per cent, in the intra-day trade

>> It settled flat on the NSE at Rs 218 apiece

3:48 PM

STOCK OF THE DAY :: HDFC Bank hits record high post Q3 result

3:46 PM

SAVER OF THE DAY :: Gains in RIL support markets

3:45 PM

Sectoral trends on NSE :: Metals index underperforms on NSE

3:43 PM

Sensex Heatmap at Close :: Only 4 constituents end the day in the green

3:42 PM

CLOSING BELL

Amid around 2 per cent gains in Reliance Industries and HDFC Bank, the benchmark S&P BSE Sensex and Nifty50 managed to contain losses but still closed 0.96 per cent lower.

The Sensex index ended at 48,564 levels, down 470 points or 0.96 per cent, on the BSE with RIL, Titan , HDFC Bankm and ITC ending the day as the only gainers. On the downside, ONGC (down 5 per cent), Sun Pharmaceuticals, Bajaj Finance, and PowerGrid remained as top drags. The index hit an intra-day low of 48,404 today.

 

Nifty50, meanwhile, gave up 14,300 and ended at 14,281 levels, erasing 152 points or 1 per cent. 44 of the 50 constituents ended the day in the red.

 

3:29 PM

Harsh winter in key markets drives spot LNG prices in Asia to record levels

“The spot LNG price in Asia is highly sensitive to marginal demand in Japan, Korea and China. Since these places are experiencing harsh winter, the heating load has gone up significantly. Emergency (unplanned) buying by Japanese power companies is the driving factor for pushing up prices,” Debasish Mishra, Partner at Deloitte told Business Standard. READ MORE

3:23 PM

Bears tighten grip; Sensex slumps over 550 pts

3:13 PM

Metal stocks crack; Nifty Metal index tanks 4%

3:05 PM

MARKET UPDATE:: Sensex down over 300 points

3:00 PM

UPL rallies 7% on heavy volumes; stock surges 34% from December low

Shares of UPL hit an over 11-month high of Rs 558, up 7 per cent, on the back of heavy volumes in an otherwise subdued market on the National Stock Exchange (NSE). With today's gain, it has bounced back 34 per cent from its recent low of Rs 416, hit on December 21, 2020, in the intra-day trade. READ MORE

2:49 PM

Snowman Logistics Q3 results: Firm posts profit of Rs 1.42 cr vs loss of Rs 3.44 cr YoY

>> Revenue of Rs 60.18 cr against Rs 58.76 crore YoY

>> EBITDA at Rs Rs 17.45 cr vs Rs 14.32 cr YoY

>> PAT at Rs 1.42 cr vs loss of Rs 3.44 cr YoY

>> Stock jumps over 4% post Q3 numbers

 

2:46 PM

Underperformers on the BSE

2:34 PM

Dec Quarter Result :: Rallis India's PAT jumps 20.2% YoY

>> PAT stands at Rs 45.6 cr vs Rs 38 cr YoY

>> Revenue at Rs 570.5 cr vs Rs 533.6 cr YoY

>> EBITDA at Rs 60.1 cr vs Rs 55.7 cr YoY

>> EBIT margin at 10.5% vs 10.4% YoY

2:25 PM

Open to opportunities of paring stake in IDBI Bank: LIC's Vipin Anand

After recovering from the lows in the initial months of the pandemic, life insurance sector’s growth has dipped again. Vipin Anand, managing director, Life Insurance Corporation (LIC), in an interview with Subrata Panda, says he is optimistic about achieving a double digit-growth by the end of this fiscal year. READ MORE

2:16 PM

MARKET UPDATE:: Sensex pares majority of the day's losses, turns flat

2:01 PM

Recovery from intra-day lows in today's trade

COMPANY	DAY'S LOW(RS)	DAY'S HIGH(RS)	LATEST(RS)	RISE(%)
SUZLON ENERGY	6.45	7.05	6.99	8.37
TATA ELXSI	2333.35	2539.80	2493.60	6.87
KEI INDUSTRIES	473.05	511.00	504.15	6.57
INDUS TOWERS	242.25	263.00	256.35	5.82

1:56 PM

Market Update :: Sensex erases over 200 pts loss, still down 0.42%

1:54 PM

MARKET STATS :: Advance-decline ratio at nearly 2:5 on the BSE

1:46 PM

ITC hits over 11-month high in muted market; stock up 10% in a week

Shares of ITC were trading higher for the sixth straight day on Monday, up 1.4 per cent on the BSE in an otherwise weak market. The stock also hit over 11-month high of Rs 221. In comparison, the S&P BSE Sensex was down 0.67 per cent at 48,705 points, at 12:52 pm. In the past one week, ITC' stock has outperformed the market by gaining 10 per cent as compared to a 1 per cent decline in the benchmark index. It was trading at its highest level since February 1, 2020. ITC hit a 52-week high of Rs 243 on January 20, 2020. READ MORE

1:35 PM

Heatmap: S&P BSE Sensex gainers and losers

1:27 PM

IRFC IPO subscribed 37% so far on Day 1 of bidding process

Total Issue Size	1,24,75,05,993
Total Bids Received	45,91,32,900
Total Bids Received at Cut-off Price	34,26,98,850
No. of times issue is subscribed	0.37

1:26 PM

Corporate Action :: Prakash Tulsiani resigns as CEO of Allcargo Logistics effective January 16

1:12 PM

Mindtree shares slip marginally ahead of Q3 results