RIL, Axis Bank help Sensex, Nifty settle in green; broader indices outrun

Closing Bell on Thursday, January 11: Shares of Reliance Industries rose over 2 per cent for a second straight day, followed by Axis Bank, Ultratech Cement, Tata Motors, Power Grid

3:51 PM

Tech View :: 'Breakthrough above 48,000 will lead to short-covering in Bank Nifty'

The Bank Nifty index witnessed ongoing struggles between bulls and bears, leading to a volatile trading session. A significant hurdle for the index is identified at 48,000, marked by substantial call writing.

A decisive breakthrough above this level is anticipated to trigger a sharp short-covering rally. On the downside, the lower-end support remains intact at 46,900. A close below this support level may intensify selling pressure in the market.

Views by: Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities.

3:49 PM

Tech View :: 'Nifty's support has shifted to 21,600'

Nifty faced selling pressure within the 21,700-21,750 range, yet found stability as it held above its 10-day moving average, concluding the session with a positive close.

Presently, Nifty's immediate support has shifted to 21,600, while 21,730 serves as a resistance level on the technical chart. The broader positional support for Nifty remains at 21,500.

Views by: Kunal Shah, Senior Technical & Derivative Analyst, LKP Securities

3:47 PM

Comment :: What all happened in the markets today?

In anticipation of inflation data from the US, the Indian market exhibited range-bound trade. Though investors anticipate US inflation to ease, global markets, expecting a CY24 interest rate cut, have already priced in optimism.

Profit booking occurred amid moderating Q3 corporate earnings and concerns about premium valuations. Selling pressure on IT stocks stemmed from weak earnings estimates.

Views by: Vinod Nair, Head of Research, Geojit Financial Services.

 

3:45 PM

Currency check :: Rupee ends 1 paisa higher

3:43 PM

SmallCap Heatmap :: Index ekes out 0.79% gain

3:42 PM

MidCap Heatmap :: Index closes 0.66% Thursday

3:41 PM

Nifty Heatmap :: Hero Moto, RIL, Axis Bank do the heavy lifting

3:39 PM

CLOSING BELL :: Nifty settles below 21,650

3:38 PM

CLOSING BELL :: Sensex ends 63 pts higher after fag-end volatility

3:29 PM

India's financial conditions improved significantly in Dec: CareEdge

India’s equity market got its strongest-ever monthly inflows (of $7.9 trillion) from foreign portfolio investors (FPIs) in December 2023, the highest since December 2020. The strong rally in the Indian equity market in December has driven the price to earnings (PE) ratio above 25, suggesting strong valuations. READ MORE

3:20 PM

Reliance Ind extends rally, surges over 5% in two days; stock hits new high

Meanwhile, RIL has outperformed the market by surging 11 per cent in the past one month, as compared to 2.6 per cent rise in the S&P BSE Sensex. However, in the past six months (down 1.8 per cent) and 1-year (up 7.6 per cent), RIL has underperformed the market. In comparison, the benchmark index rallied 10 per cent in the past six months and 19.4 per cent in the past one year. READ MORE

3:08 PM

Global Check:: US, UK stock futures trade with steady gains

Source: Investing.com

2:55 PM

ALERT:: GTPL Hathway Q3 net dips 9%; stock sinks 6%

GTPL Hathway reported a 8.7 per cent decline in Q3 net profit at Rs 19.13 crore for the quarter ended December 2023 as against Rs 20.95 crore in the year ago period. Total income, however, was up 16 per cent YoY at Rs 521.69 crore from Rs 449.69 crore.

2:44 PM

ALERT:: HDFC AMC Q3 net jumps 33%; stock trades flat

HDFC AMC (Asset Management Company) today reported a 32.6 per cent growth in Q3 net profit at Rs 489.72 crore for the quarter ended December 2023 when compared with Rs 369.40 crore in the corresponding quarter a year ago. Total income grew 22.8 per cent YoY to Rs 813.75 crore from Rs 662.93 crore.

2:34 PM

IFSC needs to ready platform where green credits can be traded: Sitharaman

Last year the government had decided to allow listed and unlisted companies to directly list themselves on the IFSC (International Financial Services Centre) exchanges at GIFT City. READ MORE

2:22 PM

Market Check:: Sensex slips into red; down over 400 pts from day's high

2:11 PM

Power sector financer REC likely to lead National Rooftop Solar scheme

Leading power sector financer REC Limited will be given the reins of the National Rooftop Solar scheme as the Centre shifts its focus to decentralised solar for meeting green energy targets. READ MORE

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1:59 PM

2-wheeler shares rally; Hero MotoCorp surges 6%, TVS m-cap nears Rs 1 trn

Shares of two/three-wheeler companies were vrooming on the bourses with Hero MotoCorp, and TVS Motor Company surging up to 6 per cent and hitting their respective record highs on expectations of strong demand and healthy operational performance going ahead. READ MORE

1:48 PM

ALERT:: Vedanta group firm sumbits FDP for gas production in Gujarat; stock up 2%

Vedanta in an exchange filing said that Cairn Oil & Gas, part of Vedanta Group, has  submitted the first Field Development Plan (FDP) in OALP to commence Gas Production from Jaya in Gujarat.

1:38 PM

Global Check:: Major Asian markets end with notable gains

Source: Yahoo Finance

1:26 PM

Sector ALERT:: Shares of 2-wheeler makers in demand; Hero Moto zooms 5%

1:15 PM

Adani Airports may be listed after achieving certain triggers: Jeet Adani

Adani Group may list its airports vertical on the bourses after it achieves a couple of triggers, said Jeet Adani, vice-president, Adani Enterprises Ltd and son of industrialist Gautam Adani. READ MORE

1:02 PM

Result today | TCS likely to report single-digit growth in revenue, net profit in Q3

 CS is expected to report muted constant currency revenue growth of 0.3 per cent from the last quarter due to furloughs offset by the contributions from the BSNL deal. READ MORE

12:44 PM

ALERT :: Allied Digital gets selected as Master System Integrator for Ayodhya Smart City Project

>> Allied Digital Services Limited, a leading Global IT Services and Solutions Provider, has been selected as a Master System Integrator (MSI) for the Integration of CCTV Surveillance with Existing ITMS Control Room for the Ayodhya Smart City Project.

>>  The capital expenditure (CAPEX) and implementation phase is anticipated to last three months, followed by a five-year operational and maintenance (O&M) phase.

Check details here
 

12:30 PM

Kalyani Steels zooms 20% on winning bid for Kamineni Steel & Power assets

In an exchange filing KSL on Wednesday after market hours informed that the company was declared as a successful bidder for acquisition of assets of Kamineni Steel & Power India Private Limited (In Liquidation). READ MORE

12:15 PM

ALERT :: Unichem Labs receives ANDA approval for its Doxazosin Tablets USP

>> It has received ANDA approval for its Doxazosin Tablets USP, 1 mg, 2 mg, 4 mg and 8 mg from the United States Food and Drug Administration (USFDA) to market a generic version of Cardura® (Doxazosin) Tablets, 1 mg, 2 mg, 4 mg and 8 mg, of Viatris Specialty, LLC.

>> Doxazosin tablets are indicated for the treatment of hypertension, to lower blood pressure.

>> The product will be commercialized from Unichem’s Goa Plant.
 

12:01 PM

Institutional investments in Indian real estate fell to 5-year low in 2023

Domestic investors, however, continued to have faith in the sector, with total investments more than doubling to $1.5 billion from $687 million in 2022. The share of domestic investors increased to 35 per cent in 2023 from 14 per cent in 2022. READ MORE

11:47 AM

ALERT :: Indian banking system remains resilient and robust, says RBI Governor, Shaktikanta Das

>> The non-performing asset (NPA) figures remain within acceptable limits

>> However, we observed two or three notable points, including the evident exuberance that was building up

>> Exploring model-based lending

>> Have provided a list to the govt regarding illegal lending apps

>> RBI's position on cryptocurrency remains unchanged. Travelling down that path will create huge risks.  

>> Expanding wholesale CBDC and exploring the potential for programmable features in retail CBDC

Source: Das is speaking at Mint BFSI Summit

11:33 AM

ALERT :: Ajmera Realty reports 98% YoY surge in Q3 sales

>> Sales Area stood at 1,03,573 sq. ft, up 63% YoY

>> Sales Value stood at Rs 253 crore, up 98% YoY
 

>> Collections stood at Rs 151 crore, up 30% YoY
 

>> Secured a residential redevelopment project; Acquired residential redevelopment project in premium location of Versova in Mumbai, with potential development area of ~90,700 sq.ft. and GDV of ~Rs 360 crore. 

Source: Exchange filing
 

11:19 AM

Result today | Infosys Q3 profit seen falling 7% YoY; wage hikes to erode margins

Revenue is expected to be muted with a yearly growth of just 0.9 per cent to Rs 38,660 crore. This is expected to decline by 0.9 per cent from the last quarter (QoQ). READ MORE