Sensex dips 427 pts, Nifty below 17,650; HUL adds 3%, Bajaj Finserv down 5%

Closing Bell

Global headwinds weighed on Indian equities for fourth straight day on Friday as all sectors, barring selective FMCG counters, slid into the negative territory. 

The S&P BSE Sensex ended the session with 427-points cut at 59,037 level with 10 index constituents ending the session in the green. The 30-pack index had briefly breached below the 59,000-mark intra-day and hit a low of 58,621.

On the NSE, the Nifty50 gave up the 17,650-mark to end at 17,617, down 140 points. The broader markets bled even more with both the mid and smallcap indices closing 2 per cent lower each on the BSE.

Overall, 2,329 stocks ended in the red on the BSE as against less than 1,048 stocks in the green. Fear gauge, India VIX, soared 6 per cent to end near 19-mark.

Bajaj Finserv, Tech M, Tata Steel, Bharti Airtel, IndusInd Bank, and Axis Bank were the top large-cap draggers while Zee Entertainment, Canara Bank, Concor, Info Edge, Sasken Technologies, Hindustan Oil Exploration, and Polycab India were the mid- and small-cap losers. All these stocks were down in the range of 2-11 per cent.

On the upside, HUL was the top Sensex gainer, ending 3 per cent higher. FMCG major Hindustan Unilever had, on Thursday, reported 17 per cent jump in net profit at Rs 2,243 crore for the quarter ending December 31, 2021 as it gained market share in both urban and rural areas as India emerged from coronavirus-related lockdowns.

Maruti Suzuki, HDFC twins, Nestle India, and Kotak Bank were other major large-cap gainers. 

In the broader market, Biocon, Ajanta Pharma, Alkem Labs, Jamna Auto, Thomas Cook, and Hitachi Energy India ended up to 8 per cent higher.

Within the pack, the shares of Hitachi Energy India hit a record high of Rs 3,209, up nearly 14 per cent intra-day after the company won orders worth over Rs 160 crore for its key electric components to support the electrification of the country's rail routes.

Sectorally, only the Nifty FMCG index ended in the green, up 0.36 per cent. The losses, on the oher hand, were led by the Nifty PSU Bank index, down 3 per cent. All other indices slipped between 0.5-2.4 per cent.

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Markets at 02:30 PM

LIVE market updates: The key benchmark indices had weakened once again in tandem with the weak sentiment across the global markets.

The BSE Sensex was down 516 points at 58,949, and the NSE Nifty had shed 166 points at 17,591.

Elsewhere in Asia, Taiwan Weighted index was down 1.8 per cent. Japan's Nikkei, China's Shanghai Composite and Kospi were down around a per cent each. Straits Times was down 0.1 per cent, while Hang Seng ended a wee bit in positive zone.

Mirroring the weak sentiment the major European markets too have started traded with significant losses. The FTSE 100 had slipped a per cent. The DAX 30 and CAC 40 had dropped over 1.5 per cent each. Meanwhile, the US futures indicated an opening loss of 0.1 per cent for Dow Jones, 0.8 per cent for the Nasdaq.

Back to our markets, Bajaj Finserv had tanked 5 per cent, and Tech Mahindra had shed 4.3 per cent. Tata Steel and Bharti Airtel had declined around 3 per cent each. IndusInd Bank, Larsen & Toubro, Dr.Reddy's, Infosys, Axis Bank, Bajaj Finance and SBI were the other significant losers, down over 2 per cent each.

On the positive front, Hindustan Unilever and Maruti were up around 2 per cent each.

The broader markets had also weakened considerably, both the BSE Midcap and Smallcap indices were down around 1.5 per cent each. The overall breadth was extremely negative, with more than two declining stocks for every advancing share on the BSE.

In the broader markets, Gokdaldas Exports zoomed 10 per cent to hit a record high after a gap of over 15 years as the company reported nearly five-fold jump in net profit at Rs 30.11 crore for the quarter ended December 2021 (Q3FY22). READ MORE

Among sectoral indices, the BSE Consumer Durables, Metal, Capital Goods and Realty indices had plunged around 2 per cent each. The IT and Healthcare indices had slipped 1.5 per cent each, while the Bankex was down a per cent.

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Markets at Lunch (01:30 PM)

LIVE market updates: The key benchmark indices had recouped most of their losses, led by notable gains in index heavyweights Hindustan Unilever, Reliance and HDFC twins.

The BSE Sensex, which, touched a low of 58,683, was down 400 points at 59,065. The NSE Nifty had declined 128 points to 17,629.

Maruti was the biggest per centage gainer among the Sensex 30 shares, up  2.2 per cent at Rs 8,217. Hindustan Unilever also traded with a firm gain of 1.7 per cent, and HDFC was up a per cent.



On the losing side, Bajaj Finserv plunged 4 per cent, and Tech Mahindra had declined over 3 per cent. Bharti Airtel, Tata Steel, Infosys and Larsen & Toubro were the other major losers, down around 2 per cent each.

The broader indices had also recovered partially, the BSE Midcap was down 0.8 per cent and the Smallcap was down 0.5 per cent. The overall breadth also remains negative, with 1,970 declining stocks versus 1,313 advancing shares on the BSE.

In the broader markets, Thomas Cook, Hitachi Energy, Linc, Global Space Technologies, Ambica Agarbathies, Cambridge Technologies, Pressman Advertising and Punjab Communications were the major gainers, up 12-20 per cent each. Indo Tech Transformers, Autoline Industries, Meera Industries, Pinoeer Embroderies, Coffee Day, Biofil Chemicals, Shoppers Stop, Hikal, Sharda Corpchem, Triveni Turbine, LG Balakrishnan, HLE Glasscoat, Jamna Auto and Biocon were the other major gainers.

On the flip side, Saken Technologies, Supriya Lifescience, Zomato, IFB Agro, Alkali Metals, Aksh Optifibre, Vaswani Industries, Deep Polymers, Hindusthan National Glass, MBL Infra, TCI Developers, Kesoram Industries, HSIL, Polycab India, Container Corporation, PNB Housing Finance, Kajaria Ceramics, Havells India and Carborundum Universal were the major losers.
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Markets at 12 noon

LIVE market updates: The benchmark indices remained pressured due to broad-based selling amid high volatility. The BSE Sensex was down 454 points at 59,011, while the NSE Nifty was at 17,622, lower by 135 points. The two were down by 0.75 per cent.

The broader markets, meanwhile, continued to underperform the benchmarks. The BSE MidCap index was steadily lower by 1 per cent and the SmallCap index was down 0.7 per cent. 

Barring auto and FMCG indices, the rest were in the negative territory. The Nifty Auto index was up 0.8 per cent led by gains in Bajaj Auto, Maruti, TVS Motor, Hero MotoCorp and Eicher Motors, up between 0.5-4 per cent.

ALSO READ: ICICI Bank to report Q3 results on Jan 22; Here's what brokerages expect

Among stocks, shares of Hitachi Energy India hit a record high of Rs 2,949, up 4 per cent on Friday in an otherwise weak market after the company won orders worth over Rs 160 crore for its key electric components to support the electrification of the country’s rail routes. READ MORE HERE.
 

Further, Pricol hit a new high of Rs 139.50, up 4 per cent intra-day and gaining 9.5 per cent in the past two days on the back of fund buying. On Wednesday, January 19, Aditya Birla Sun Life Mutual Fund Pure Value Fund purchased 1 million equity shares representing 0.82 per cent stake of Pricol at Rs 126.50 per share via bulk deal on the NSE. READ MORE HERE.

Asian markets

Asian markets tumbled tracking declines on Wall Street overnight. Japan’s Nikkei 225 fell 0.9 per cent, while the Kospi was down 1 per cent. Hong Kong's Hang Seng index was lower by 0.6 per cent and Shanghai index also fell 0.8 per cent. Meanwhile, oil prices too slipped from their 2014 highs earlier in the week, falling about 2 per cent.
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Markets at 11 AM

LIVE market updates: The benchmark indices were holding significant losses in a highly subdued market. The BSE Sensex was down 604 points at 58,860 and the NSE Nifty was 187 points lower at 17,570. 

The losses in the BSE benchmark were steady on the back of persistent selling pressure in Infosys and banking counters--ICICI Bank, Axis Bank, HDFC Bank and Bajaj Finserv. L&T, RIL, Bharti Airtel and Kotak Bank were also weighing on the index. 

In the broader market, the BSE MidCap and SmallCap indices were also sharply lower by up to 1 per cent. 

In the primary market, the IPO of AGS transact technologies was subscribed 1.58 times so far as of 11 am, with the retail investors portion subscribed 2.3 times. 
 

Individually, shares of Zomato continued to wilt under selling pressure, as they slipped to an over five-month low at Rs 119.35, down 5 per cent on the BSE. The stock of the food delivery giant traded lower for the fourth straight day, and had shed 11 per cent during the period.READ MORE.

Further, state-owned Container Corporation of India was down 5 per cent on the BSE as investors seemed unimpressed with the company's Q3 results. On Thursday, it reported a 24.46 per cent rise on-year in its consolidated net profit to Rs 276.35 crore. 

On the flip side, biopharma company Biocon was up over 2 per cent on strong Q3 numbers. The company posted a 17.68 per cent increase in consolidated net profit at Rs 219.6 crore. 
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Markets at 10 AM

LIVE market updates: The benchmark indices made a sharp recovery in early morning trade after starting the session with heavy losses. The BSE Sensex was now at 59,180, down 284 points. This was nearly 500 points higher from its day's low. The NSE Nifty, on the other hand, was at 18,670, lower by 86 points.

The indices were seen recouping losses on the back of buying in FMCG major HUL(up 2 per cent), HDFC, TCS, ITC (up nearly 0,5 per cent each), and PowerGrid (up 1.6 per cent). 

On the Nifty, Hindalco, Bajaj Auto, Tata Comsumer Hero MotoCorp were the additonal gainers. Meanwhile, the top losers were Bajaj finserv, Tech M Coal India, Divis Labs, Dr Reddy's, Adani Ports, Axis Bank, Kotak Bank, and Shree Cement.

Sectorally, auto and FMCG were the only gainers on the Nifty wherein the latter was supported by gains in HUL and Asian Paints on the back of their strong Q3 results. 

That apart, among stocks, shares of Shoppers Stop hit a 52-week high of Rs 420, on surging 16 per cent on the BSE after the company reported a strong operational performance with earnings before interest, taxes, depreciation, and amortization (ebitda) margins improving by 580 bps year-on-year to 19.2 per cent in December quarter. READ MORE.

Consumer electrical goods maker Havells India was trading 2.5 per cent lower on the exchange after it reported a decline of 12.7 per cent in its consolidated net profit to Rs 305.82 crore on Thursday for the December quarter. Its revenue from operations was up 15.4 per cent at Rs 3,664.21 crore from last year.

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Opening Bell

LIVE market updates: In tandem with weak global cues, the benchmark indices opened on a sharply negative note and were down up to 0.9 per cent as they extended losses for a fourth session. The BSE Sensex was down 544 pointsat 58,919 and the NSE Nifty was 156 points lower at 17,600. 

In the broader market, the BSE MidCap and SmallCap indices were also in red and were down up to 0.7 per cent. 

Among the Sensex-30 constituents, Tech M, Bajaj Finserv, Dr Reddy's, Bajaj Finance, Wipro, IndusInd Bank, Infosys, Axis Bank, Tata Steel, Titan, Kotak Bank, SBI and HCL Tech  were the top losers. 

HUL, PowerGrid, NTPC and Asian Paints were the sole gainers on the Sensex. On the Nifty, BPCL was the additonal gainer. All other shares were trading in red.

Sectorally, all indices were in the red zone too led by losses in Nifty Realty and PSUs, down 2 per cent each, followed by Banks, IT, Pharma, Consumer durables and metals, all lower by over a per cent each.

Among stocks, Shopper's Stop was the top BSE gainer, up 15 per cent. Tata Elxsi, Persistent Systems, Triveni Turbine, HLE Glasscoat, Cosmo Films were the other top gainers. On the other hand, Hindustan Oil Exploration, Agro Tech foods, and Kesoram were the top losers.
 

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Pre-open session

LIVE market updates: The benchmark indices were holding losses in pre-open trades. The BSE Sensex was down 300 points at 59,164, while the NSE Nifty was 126 points lower at 17,630. 

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LIVE market updates: The key benchmark indices are likely to open lower extending losses for a fourth session on Friday amid weak global cues and persistent selling by FIIs. At 08:00 AM, the SGX Nifty futures quoted 17,675 level, indicating a gap-down of over 100 points on the Nifty 50 index.

In the last two trading sessions, the FIIs have stepped up the selling pressure and net sold stocks worth Rs 7,385 crore in the cash segment, thus taking the withdrawal tally to Rs 12,415 crore in the month so far. READ MORE

Moreover, individual stocks that are likely to be in focus -include Reliance Industries, Bandhan Bank, HDFC Life, Hindustan Zinc, Vodafone Idea, JSW Steel, among others as these companies announce December quarter results today.

In the primary market, today is the last day for subscribing to the IPO of AGS Transact. The issue so far has been subscribed 1.42 times, with retail quota subscribed up to 2.1 times.

Global cues
 

Overnight in the US, stocks reversed course to end sharply lower amid fears of a tighter monetary policy. The key indices were up more than a per cent in early trade, but eventually Dow Jones ended 0.9 per cent lower, the S&P 500 slipped 1.1 per cent and Nasdaq declined 1.3 per cent. Investors will be looking for cues from the US Fed meeting next week for the likely timeline on rate hikes.

Key markets in Asia too were in a sea of red despite China cutting lending rates for the first time in two years and increasing monetary stimulus. Nikkei had shed 1.6 per cent. Kospi and Taiwan also declined over a per cent each. Hang Seng, Shanghai and Straits Times were down 0.3-0.5 per cent each.