Sensex snaps 3-day winning run, ends 770 pts down; Nifty tops 17,750

Closing Bell

Benchmark indices snapped their 3-day winning streak and ended lower on Thursday, the day of weekly F&O expiry, as investors booked profit post a recent rally and tepid global cues. 

The S&P BSE Sensex index declined 770 points or 1.3 per cent to end at 58,788 level, while the NSE Nifty shut shop at 17,560, down 220 points. During the day, both the indices had touched a low of 58,654 and 17,511, respectively.

Housing mortgage lender HDFC was the biggest laggard today as it ended 3.5 per cent lower. Investors booked profit in the stock after it reported an 11 per cent jump in net profit to Rs 3,261 crore in the October–December period of FY22, beating Street estimates.

That apart, SBI Life, Infosys, L&T, Grasim, Bajaj twins, Kotak Bank, IndusInd Bank, and ONGC were the other major draggers, sliding between 2 per cent and 3 per cent.

On the upside, Hero MotoCorp and Bajaj Auto rallied 2 per cent each, followed by Maruti Suzuki, ITC, Titan, Divis Labs, SBI, and Asian Paints. 

In the broader markets, the BSE MidCap index fell 0.8 per cent and the BSE SmallCap index slipped 0.3 per cent.

Among sectors, all the key indices ended in the red, led by the Nifty IT index (down 2 per cent) and the Nifty Realty index (down 1.7 per cent). Nifty Auto index was the only gainer, up 0.4 per cent.

Buzzing stocks

Shares of Bharat Dynamics (BDL) hit a new high of Rs 535.70 after they rallied 10 per cent on the BSE in Thursday's intra-day trade, after the company signed a contract worth Rs 3,131.82 crore with the Indian Army. 

Shares of tyre companies slipped by up to 6 per cent on the BSE in Thursday's intra-day trade after the Competition Commission of India (CCI) alleged cartelisation and imposed penalty on Apollo Tyres, MRF, CEAT, JK Tyre & Birla Tyres.

Shares of Triveni Engineering & Industries hit a new high of Rs 287 after they surged 9.6 per cent on the BSE in Thursday’s intra-day trade on robust Q3 results. The company's consolidated profit after tax (PAT) jumped 37 per cent year-on-year (YoY) to Rs 130 crore for the December quarter (Q3FY22).

Global markets

European stocks were slightly lower on Thursday morning, with investors focusing on the outcome of the European Central Bank’s next policy meeting, as inflation data in the euro zone remains a concern.

The pan-European Stoxx 600 slipped 0.4 per cent below the flatline in early trade, with tech stocks shedding 0.9 per cent to lead losses as most sectors slid into negative territory.

On Wall Street, US stock futures fell as traders pored through the latest batch of corporate earnings, which included disappointing numbers from tech giant Meta Platforms.

Futures tied to the Nasdaq 100 dropped 0.3 per cent, and S&P 500 futures slid 0.34 per cent. Dow Jones Industrial Average futures slid 0.46 per cent.

Back in Asia, South Korea's Kospi rose 1.7 per cent while Japan's Nikkei 1 per cent. Australia's ASX, too, dipped 0.14 per cent.

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Markets at 02:30 PM

LIVE market updates: The key benchmark languished near the lows of the day with less than an hour to go for close of trade on Thursday.

The BSE Sensex touched a low of 58,883, and was down 568 points at 58,990. The NSE Nifty shed 163 points at 17,647.

HDFC was down over 3 per cent at Rs 2,531. Infosys and Larsen & Toubro dropped around 2 per cent each. Kotak Bank, Tech Mahindra, Bajaj Finance, Mahindra & Mahindra, Reliance, Wipro and PowerGrid Corporation were the other prominent losers among the Sensex 30 shares.

Maruti was up 1.5 per cent, and ITC traded a per cent higher at Rs 234 ahead of its Q3 earnings today. The stock has seen rallied smartly off late, and charts indicate that the stock can rally up to Rs 265 in the near term. READ MORE

The broader markets were outperforming in a way, with lesser losses compared to the benchmark. The BSE Midcap and Smallcap indices were down 0.6 per cent, and 0.1 per cent, respectively, as against a 0.9 per cent fall on the BSE benchmark.

The overall breadth too was marginally positive with 1,773 shares advancing versus 1,522 declining stocks on the BSE so far.



Among sectoral indices, the BSE IT and Realty indices were down around 1.5 per cent each. The Capital Goods and Oil & Gas indices too were down around a per cent each, while Bankex declined 0.5 per cent. The Auto index was the sole prominent gainer, up a per cent.

Elsewhere in Europe, the major markets have started trade on a mixed note. The FTSE 100 was up 0.1 per cent. The DAX 30 and CAC 40 were down 0.3 per cent and 0.1 per cent, respectively. The US futures indicated a subdued start for the key indices, Dow quoted 0.1 per cent in red, while Nasdaq futures were down as much as 2 per cent.
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Markets at Lunch (01:30 PM)

LIVE market updates: The key benchmark indices were languishing in the negative territory amid profit-taking in select index heavyweights following the 3-day rally.

The BSE Sensex touched a low of 59,022, and was down 452 points at 59,106. The NSE Nifty declined 133 points to 17,647. 

Mortgage lender HDFC was down 3 per cent a day after its Q3 results. Infosys slipped 2 per cent. Larsen & Toubro, Tech Mahindra, Hindustan Unilever and Kotak Bank were the other prominent losers.

Whereas, Maruti was the sole top gainer, up 2 per cent. Tata Steel, ITC and Axis Bank held marginal gains.

In the broader markets, MAS Financial Services zoomed over 17 per cent. Dhani Services, Himadri Speciality, Blue Star, Genus Power, TV18 Broadcast, Balaji Amines, Elgi Equipments, Asahi India, Hathway Cable, HT Media, Hercules Hoists, Dhunseri Investments, Zuari Agro Chemicals, Oricon Enterprises, Zuari Global and Yaari Digital Integrated Services were some of the major gainers.

On the flip side, Welspun Enterprises, Spandana Sphoorty, Sheela Foam, M&M Financial Services, VIP Industries, Godrej Properties, HSIL, Panacea Biotech, Anand Rayons, CL Educate and Ajmera Realty were some of the significant losers.

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Markets at 12 noon

LIVE market updates: The benchmark indices extended losses in noon trade and were now down up to 0.7 per cent. The BSE Sensex was lower by 444 points at 59,114, and the NSE Nifty was 17,645, down 134 points. 

HDFC slipped further and was trading 3 per cent lower, followed by L&T, Kotak Bank Infosys, Tech M, HUL, Bajaj Finance, IndusInd Bank, RIL and Dr Reddy's, all trading 1-2 per cent lower.  

ALSO READ: TCS, Wipro, Infosys, TechM, HCL Tech: Buy these stocks for up to 19% return

In the broader markets, the SmallCap index had trimmed gains and was down 0.1 per cent, while the MidCap index was 0.6 per cent lower. The top losers on the index included M&M finance, Godrej Properties, Supreme Ind, Muthoot Finance, Mindtree, Varun Beverages, and InfoEdge, trading 2-6 per cent lower. 

This apart, the IPO shares of Adani Wilmar will be allotted today. Read here to know how to check your allotment status 

Sectorally, auto shares continued to trade higher, while Financials and IT continued to be top laggards, down nearly 1 per cent each. 

Individually, shares of Triveni Engineering hit a new high of Rs 285.30, on rallying 9 per cent on strong earnings. The stock has zoomed 313 per cent from its 52-week low level of Rs 69 touched on February 16, 2021.

BS SPECIALS

Information technology (IT) sector stocks have been on a downward spiral thus far in 2022 with the Nifty IT index slipping over 7 per cent on the NSE. This, analysts believe, is on account of rising employee costs at a time the business growth has been modest. READ HERE TO KNOW WHAT ANALYSTS RECOMMEND.
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Markets at 11 AM

LIVE market updates: The headline indices were steady in morning trade and continued to hold losses. The BSE Sensex was down 257 points at 59,301, while the NSE Nifty was at 17,707, lower by 73 points. 

In the broader markets, the BSE MidCap index was trading 0.46 per cent lower but the SmallCap index was higher by 0.11 per cent. 

Financial stocks including banks such as Kotak bank and IndusInd Bank along with IT stocks continued to reel under selling pressure and were the top laggards. Only 10 of the 30-sensex shares were in the green zone, while on the Nifty, 34 shares out of the 50 companies were in the negative territory. 

ALSO READ: Jubilant Foods: Analysts cut earnings expectations by up to 14% post Q3 nos

Among sectors, shares of tyre companies slipped by up to 6 per cent on the BSE after the Competition Commission of India (CCI) alleged cartelisation and imposed penalty on select companies. The CCI had passed an order against five Tyre companies namely Apollo Tyres, MRF, CEAT, JK Tyre & Birla Tyres and the tyre association i.e. Automotive Tyre Manufacturers Association. READ ABOUT IT HERE.

This apart, the Nifty Auto index was the top outperformer, and was up 1.6 per cent. Shares of automobiles companies were trading higher in an otherwise weak market on expectations that increased economic activity and growth in employment would fuel demand for automobiles including two-wheelers. READ MORE HERE.
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Markets at 10 AM

LIVE market updates: The benchmark indices extended their opening losses in a volatile market on the day of weekly F&O expiry. The BSE Sensex was down 242 points at 59,316, while the NSE Nifty was lower by 56 points at 17,720. The two indices were now lower by 0.4 per cent.

Housing finance major HDFC was the top loser on the bourses, down 2 per cent on profit-booking. The stock had gained nearly 2 per cent on Wednesday after it posted a 11 per cent jump in net profit to Rs 3,261 crore in the December quarter, beating street estimates. L&T, Infosys, Bajaj Finance, Kotak Bank, Tech M, ICICI Bank, Wipro and HCL Tech were the other losers trading up to 1 per cent lower. 

On the flip side, the top performers were Maruti and Asian Paints, up 2.8 per cent and 1 per cent, respectively. ITC and Titan were the other gainers ahead of their Q3 results. On the Nifty, top gainers included auto stocks--Tata Motors, HeroMoto Corp and Bajaj Auto. 

Among stocks, shares of Bharat Dynamics (BDL) hit a new high of Rs 535.70, on rallying 10 per cent on the BSE after the company signed a contract worth Rs 3,131.82 crore with the Indian Army. READ ABOUT IT HERE.

On the downside, shares of Jubilant FoodWorks shed another 1 per cent on the BSE as the Domino's Pizza and Dunkin' Donuts operator reported a 7.48 per cent YoY increase in consolidated net profit at Rs 133.19 crore for Q3FY22, which disappointed investors. The stock had closed 4 per cent lower yesterday. 

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Opening Bell

LIVE market updates: The benchmark indices opened on a tepid note on Thursday snapping a three-day strong budget led-rally. The BSE Sensex was 104 points lower at 59,454, while the NSE Nifty was at 17,744, lower by 36 points. 

In the broader market, the BSE MidCap index wa down 0.3 per cent, while the SmallCap index was up marginally by 0.18 per cent. 

Among the Sensex-30 constituents, Asian Paints, Maruti, NTPC, RIL, SBI, PowerGrid and ITC were the top gainers, trading 0.3-1 per cent higher. Tata Consumer was the top Nifty gainer, up 3 per cent on strong earnings for the December quarter. Meanwhile, HDFC, Bajaj twins HCL Tech,Tech Mahindra, Infosys, IndusInd Bank, Kotak Bank and Wipro were the top losers, down 0.5-1.5 per cent. 

Sectorally, barring Nifty Auto, PSU Bank, Metal and Realty indices, the rest were trading lower. These four were higher by up to 0.6 per cent. The top laggard was the Nifty IT index, down 0.75 per cent, followed by financial services and Pharma. Consumer Durables and Oil & Gas indices were flat. 

Among stocks, eClerx Services was trading 1 per cent up on the back of strong Q3 results. Sheela Foam, meanwhile, was down 4 per cent on weak earnings for Q3. 

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Pre-open session

LIVE market updates: The key benchmark indices were weak in the pre-open trades as markets head for weekly F&O expiry today. The BSE Sensex was down 80 points at 59,477, while the NSE Nifty was at 17,746, down 34 points.

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LIVE  market updates: The key benchmark indices are likely to start Thursday's session on a muted note amid rising geopolitical tensions over the Russia-Ukraine conflict and rising oil prices. At 8:10 am, the SGX Nifty futures were quoting 17,787 level, that is 20 odd points lower than the Nifty's spot close the previous day. 

Among stocks, Adani Power, GAIL, Godrej Properties, ITC, Lupin, Titan, Godrej Properties, JK Tyre & Industries, Jubilant Industries, and Kalyan Jewellers will be in focus ahead of their Q3 earnings today.

That apart, Jubilant FoodWorks may also be in the limelight after the company posted 7.5 per cent YoY rise in Q3 net on the back of 13.2 per cent growth in revenue. The company’s board also approved a stock split in the 5:1 ratio. The stock closed 4 per cent lower on Wednesday. 

Global cues

The US stocks extended rally on the back of strong earnings and beaten down share prices. The Dow Jones and Nasdaq gained 0.6 per cent and 0.5 per cent, respectively; while the S&P 500 jumped 0.9 per cent.

Oil prices edged higher on Wednesday as OPEC+ stuck to its plan for a gradual increase in output despite demand for higher oil production. Brent Crude added 0.3 per cent to $89.47 a barrel, and WTI Crude was up 0.1 per cent at $88.26 a barrel.