Sensex gains 86 pts; Nifty above 18,300; HCL Tech slumps 6%; Auto stocks up

Closing Bell

Nervousness has creeped into the markets, with focus shifting to stock-specific action amid Q3 results season. The BSE Sensex oscillated in a narrow range of 277 points intra-day on Monday, and eventually ended at 61,309 levels, up 86 points or 0.14 per cent. 

On the NSE, the Nifty50 closed at 18,309, up 53 points or 0.29 per cent. In the broader market, the BSE MidCap and SmallCap indices outperformed the benchmarks and ended up to 0.6 per cent higher. 

According to Ajit  Mishra, VP-Research at Religare Broking, Markets are currently witnessing time-wise correction and likely to resume the trend soon. "Meanwhile, participants should focus more on risk management citing a rise in volatility due to the earnings. We reiterate our preference for IT, metal, realty and pharma pack while banking may see further consolidation," he said.

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Among individual stocks, the shares of HCL Tech were the worst hit among large caps and ended nearly 6 per cent down after the company's Q3 earnings disappointed on the margins front. READ MORE

That apart, those of HDFC Bank, too, ended over 1 per cent down on the back of profit booking after the private lender posted in-line Q3 results. 

On the upside, the shares of Hero MotoCorp (HMCL) gain over 5 per cent after the world's largest manufacturer of motorcycles and scooters, announced a new investment of up to Rs 420 crore in Ather Energy. READ MORE

Within the broader market space, the shares of footwear company Metro Brands, backed by ace investor Rakesh Jhunjhunwala, surged 20 per cent after the company reported strong earnings for the quarter ended December 2021 (Q3FY22). The stock is trading at its highest level since it got listed on December 22, 2021. With today’s surge, it has gained 22 per cent against its issue price of Rs 500 per share. READ MORE

Among sectors, the Nifty Auto index was the top gainer, up 2 per cent, while the Nifty Healthcare index slipped the most, down 0.9 per cent.

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Markets at 02:30 PM

LIVE market updates: The key benchmark indices continued to display sideways movement, with IT and select index heavyweights support the up move, while financial shares witnessing some selling pressure.

The BSE Sensex so far in the day had moved in a narrow band of less than 300-points, from a low of 61,108, the index touched a high of 61,385, and was up 95 points at 61,318, and the NSE Nifty had gained 54 points at 18,310.

In the broader markets, shares of Adani Enterprises, Adani Green Energy, Tata Communications, SBI Life Insurance, Astral and Prestige Estates Projects were among the 28 stocks from the S&P BSE 500 index, to hit an all-time high on the BSE in Monday’s intra-day trade so far. READ MORE

That apart, 501 stocks were trading at fresh 52-week highs, while 7 stocks registered a new 52-week low in trades so far on the BSE on Monday. Also, 704 stocks were locked at the respective upper limits, while 295 stocks had hit the lower circuiit.

Among sectoral indices, the BSE Auto index had surged 2 per cent. The Power index had vaulted 1.5 per cent, and the Realty index was up a per cent. Wheresas, the Healthcare index was down over 0.5 per cent.

Elsewhere in Asia the major markets were mixed. Nikkei and Taiwan gained 0.7 per cent each. Shanghai too was up 0.6 per cent. Straits Times was up 0.1 per cent. On the flip side, Kospi had slipped 1.1 per cent, and Hang Seng was down 0.7 per cent.

The major markets in Europe had opened on a positive note, the FTSE 100 had jumped 0.7 per cent. The DAX 30 and CAC 40 were up 0.3 per cent and 0.4 per cent, respectively. Meanwhile, the Dow futures were up 0.1 per cent, while Nasdaq futures were down 0.1 per cent.
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Markets at Lunch (01:30 PM)

LIVE market updates: The key benchmark indices continue to hold marginal gains, supported by steady gains in Bharti Airtel, SBI and IT stocks.

The BSE Sensex was up 57 points at 61,280, and the NSE Nifty had added 41 points to 18,297.

Maruti was the biggest per centage gainer among the Sensex 30 shares so far, up 2.4 per cent at Rs 8,275. Bharti Airtel, SBI, ITC, Mahindra & Mahindra, TCS, Wipro, NTPC and Tata Steel were the other prominent gaienrs, up 1-2 per cent each.

Whereas, HCL Technologies continued to languish at lower levels, down 5.7 per cent at Rs 1,261. Axis Bank, HDFC Bank and Asian Paints were the other notable loser.



The broader markets continue to outperform - the BSE Midcap and Smallcap indices were up 0.3 per cent and 0.8 per cent, respectively. The overall breadth too was fairly positive with 2,281 shares advancing versus 1,239 stocks declining on the BSE so far.

In the broader markets, Alok Textiles has zoomed nearly 18 per cent. HSIL, OnMobile Global, Rajesh Exports, Dalmia Bharat Sugar, MMTC, HFCL, Gulf Oil Lubricants, Adani Green, Jindal Saw, Astra Microwave, Praj Industries, Raymond, Navneet Education, Greaves Cotton, Metro Brands, Salona Cotspin, Khaitan Chemicals, Precision Wires, Nectar Lifesciences, North Eastern Carrying Corporation, Ruby Mills, Ginni Filaments, Synergy Green, Nxt Digital, Murudeshwar Ceramics, Alpha Laboratories and JSW Ispat Special Products were the other major gainers.

On the other hand, Bhansali Engineering, Granules India, Hikal, Lal Path Labs, Tanla Platforms, Tejas Networks, India Cements, Jai Balaji Industries, NDR Auto Components, Future Enterprises, Anand Rayons, DCM Nouvelle, Rama Steel Tubes, Digjam, ANG Lifesciences, Sintex Plastics, Hilton Metal, Hexa Tradex, Shivam AutoTech, MEP Infrastructure and Cinevista were the other major losers.
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Markets at 12 noon

LIVE market updates: The benchmark indices were steady in mid-day deals holding mild gains. The BSE Sensex was 100 points higher at 61,323 and the NSE Nifty was at 18,303, higher by 47 points. 

Select IT counters--Infosys, TCS, heavyweight RIL, followed by Maruti, SBI, HUL and Airtel continued to support the indices in holding their gains. On the Nifty, Here MotoCorp, ONGC and Bajaj Auto were the additional top gainers. 

The broader markets, meanwhile, were outprforming the benchmarks. The BSE MidCap index was up 0.3 per cent, while the SmallCap index was up 0.7 per cent. 

ALSO READ: Post Q3 results: Trading strategies for HCL Tech, HDFC Bank, Metro Brands

Among midcaps, Rajesh Exports, Amara Raja, Exide Ind, Supreme Ind, HAL, Oil India, Chola Finance and Aditya Birla Fashion were trading up between 2-10 per cent. 

 Rajesh Exports, Amara Raja, Exide Ind have submitted bids under the Rs 18,000 crore-worth PLI scheme of advanced chemistry cell battery storage. 

Sectorally, the Auto index was still the biggest gainer, up 2 per cent. IT index, too, had recouped its morning losses and was now in the green zone. Metals, Pharma, and Banks on the NSE, meanwhile, were in the red zone leading losses. 

Moreover, among stocks, shares of Tata Consultancy Services hit an all-time high of Rs 4,038.40, up 1.7 per cent on the BSE. In the past three sessions, the stock was up nearly 5 per cent, after TCS beat the Street estimates on growth for the quarter ended December 2021 (Q3FY22).READ MORE.
  
That apart, shares of ace investor Rakesh Jhunjhunwala-backed Metro Brands surged 20 per cent to Rs 608.20 on the BSE after the footwear company reported strong earnings for the quarter ended December 2021 (Q3FY22). READ MORE.
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Markets at 11 AM

LIVE market updates: The benchmark indices were seen slighlty edging higher in morning deals. The BSE Sensex was 123 points up at 61,346, while the NSE Nifty50 was at 18,302, higher by 46 points. The two indices were now higher by up to 0.3 per cent. 

The support was majorly coming from gains in Infosys, TCS, RIL, SBI, Wipro, Maruti, HUL and Airtel, up between 0.7-3 per cent. 

Meanwhile, HCL Tech, HDFC Bank, Tata Steel, Dr Reddy's, and HDFC continued to be major losers,. 

Among sectors, auto stocks were the outperformers. The Nifty Auto index, up nearly 2 per cent was the top gainer.

HeroMoto Corp, Exide, Amara Raja, Tata motors, Bajaj Auto, Maruti, Ashok Leyland, M&m, Bosch, Eicher were trading up between 1-5 per cent on the NSE.
 

A number of developments on the sector took place over the weekend supporting the strong momentum for the segment.

As per the new Delhi government mandate, aggregators and delivery services would have to ensure that 10 per cent of all new two-wheelers and five per cent of all new four-wheelers are electric vehicles in the next three months. They would also have to ensure that 50 per cent of all new two-wheelers and 25 per cent of all new four-wheelers are electric by March 2023.

Further, RIL subsidiary Reliance New Energy Solar, Amara Raja Batteries, Exide Industries, M&M and L&T are among the 10 firms that have submitted bids under the Rs 18,100 crore production linked incentive (PLI) scheme for Advanced Chemistry Cell (ACC) battery storage, the government said on Saturday.

Moreover, Maruti Suzuki was up the top gainer on the bourses, up over 2 per cent. The company on Saturday said it has increased prices of its models by up to 4.3 per cent with immediate effect to partially offset the impact of the rise in input costs.

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Markets at 10 AM

LIVE market updates: The benchmark indices were largely flat in early morning trade after gaining slight momentum at open. The BSE Sensex was up 1.9 points at 61,225, and the NSE Nifty was 12 points higher at 18,267. 

The indices were muted amid selling pressures in HCL Technology and HDFC Bank, down 6 per cent and 1 per cent, respectively. Other select counters such as Axis Bank, Tata Steel and Ultratech Cement were also limiting upside.

Shares of HCL Technologies tanked 7 per cent to Rs 1,244 on the BSE after the company Q3 earnings disappointed on the margins front. READ MORE.

On the flip side, shares of Hero MotoCorp (HMCL) gained 5 per cent at Rs 2,703.50 on the BSE after the world’s largest manufacturer of motorcycles and scooters, announced a new investment of up to Rs 420 crore in Ather Energy. READ MORE.

Sectorally, metals, IT and Pharma were the top losers, down between 0.5-1.2 per cent. Auto index, on the other hand, was the top gainer, up 2 per cent. 


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Opening Bell

LIVE market updates: The benchmark indices started on a slightly positive note on Monday amid mixed global cues. The BSE Sensex was up 54 points at 61,277 and the NSE Nifty50 was 36 points up 18,292. 

In the broader market, the BSE MidCap and SmallCap indices were also in green and were up 0.4 and 0.6 per cent, respectively.  

Among the Sensex-30 constituents, Maruti, SBI, Infosys, Bajaj Finserv, ICICI Bank, PowerGrid, HDFC Bank and RIL were the top gainers. On the Nifty, Hero MotoCorp, Tata Motors, ONGC and BPCL were the additional gainers. 

On the downside, HCL Tech was the biggest loser, down over 6 per cent on the NSE. The IT major had reported its Q3 results over the weekend. While, it met street expectations on quarterly revenue and profit. On a yearly basis, the company's PAT fell 13 per cent.

Ultratech Cement, too, was down 1.5 per cent ahead of its Q3 results today. Other major losers included Asian Paints, Axis Bank, HUL, Tata Steel, Sun Pharma, Dr Reddy's, Titan and HDFC Bank. 
 

Sectorally, apart from IT, Pharma, Metals, all NSE indices were in the green led by auto and banks. The Nifty Auto index was up 1.5 per cent, leading the gains. 

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Pre-open session

LIVE market updates: The benchmark indices were seen muted in the pre-open trades. The BSE Sensex was down 72 points at 61,150, while the NSE Nifty was lower by 25 points at 18,230. 

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LIVE market updates: The benchmark indices are likely to start the new week on a lower note after a subdued closing on Friday. At 8 am, the SGX Nifty futures were quoting 18,205.75, which is 76 points lower than Nifty's previous spot close. 

The market action will largely be stock specific today amid the earnings season. 

Among stocks, UltraTech Cement, HFCL, Maharashtra Scooters, Sonata Software, Tata Steel Long Products are likely to be in limelight, as these companies are scheduled to announce the December quarter results today.

Moreover, HDFC Bank and HCL Technologies may also be in focus as the companies announced their Q3 results over the weekend. The former reported a solid 18 per cent YoY jump in Q3 net profit, and the later, too, beat street estimates with a 5.4 per cent QoQ jump in Q3 net profit. 

Auto stocks may also be eyed as according to a new Delhi government mandate, aggregators and delivery services would have to ensure that 10 per cent of all new two-wheelers and five per cent of all new four-wheelers are electric vehicles in the next three months.

Further, six airbags have been made mandatory in all cars sold from October 1. 
 

Global cues

The US markets ended on a mixed note on Friday. The Dow Jones was down 0.6 per cent, while the S&P 500 and Nasdaq moved up 0.1 per cent and 0.6 per cent higher, respectively. Tonight, the markets will be shut for Martin Luther King, Jr. Day, holiday.

Meanwhile, oil prices surged on Friday amid supply constraints and worries over the on-going Russian-Ukraine conflict. Brent Crude vaulted 1.9 per cent to $86.06 a barrel, and WTI Crude added 2.1 per cent to $83.82 a barrel.

This morning most of the major Asian markets were seen holding gains. Japan’s Nikkei had advanced 0.9 per cent. Straits Times and Taiwan had gained 0.4 per cent each. Kospi, however, had slipped 1.1 per cent.