Sensex ends flat, 649 pts off high amid sell off in banks; ZEE sheds 8%

Closing Bell on Tuesday, January 09: Among sectors, the Nifty Media index crashed the most, falling 3.4 per cent, amid a slide in ZEEL shares (down 8%), Dish TV (5%), and Hathway (3%)

3:56 PM

Tech View :: Bulls may side with Bank Nifty till this level is held

Nifty50

Amid the volatile price action, the Nifty is still within the broad range 21,850-21,500. On the way down, multiple support parameters in the form of the 20 day moving average (21,453) and 21,406 (50% fibonacci retracement level) shall provide cushion in case of a deeper correction.

 

Bank Nifty

Bank Nifty witnessed a sharp decline and has also breached the previous day low (47,387) which is a sign of weakness. However the Bank Nifty is approaching crucial support placed in the range (47,000 – 46,900) and until this range is decisively breached on the downside the structure is still in favor of the Bulls.

Views by: Jatin Gedia – Technical Research Analyst at Sharekhan by BNP Paribas

3:53 PM

Comment :: What all happened in the markets today?

Positive sentiments in the Indian IT sector fuelled by a US tech rally and demand on emerging technologies, overshadowed the anticipated muted Q3 results of the sector.

Auto & Realty continued to remain favourites on account of strong demand.

Market optimism about potential softening of US inflation is driving expectations of near-term rate cuts, bolstering overall sentiment. But in-between profit booking is emerging due to mixed cues from Asian markets as well high valuation concerns.

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

3:51 PM

Comment :: 'Investors should prefer hedged bets'

The rebound attempt in Nifty shows that bulls are not in mood to loosen their grip easily and supportive global cues could prompt next leg of up move. Meanwhile, participants should limit  trades and prefer hedged bets.

Views by: Ajit Mishra, SVP - Technical Research, Religare Broking

3:46 PM

Currency check :: Rupee ends 2 paise higher at 83.11/$

3:44 PM

SmallCap Heatmap :: Index outshines peers, rises 0.37%

3:43 PM

MidCap Heatmap :: Index scalps barely 0.07% gain

3:41 PM

Nifty Heatmap :: FMCG, Bank stocks put pressure on benchmarks

3:39 PM

CLOSING BELL :: Nifty ends below 21,550

3:38 PM

CLOSING BELL :: Sensex slides 649 pts off highs, ends flat

3:30 PM

'Baseless, factually incorrect': Zee on reports of Sony calling off merger; stock off lows

"Zee is committed to the merger with Sony and is continuing to work towards a successful closure of the proposed merger," the company said in an exchange filing on Tuesday. READ MORE

3:19 PM

JSW Steel's crude steel output grows 12% to 6.87 MT in October-December

From its India operations, the company produced 6.63 MT of steel in October-December, up 9 per cent over 6.06 MT in the year-ago period. READ MORE

3:04 PM

Global check:: US, UK stock futures trade in red

Source: Investing.com

2:53 PM

Steel industry hopes Budget will focus on infra, fair trade measures

India’s leading steel companies are adding capacity and hope the upcoming Budget will facilitate their investments by taking measures for raw material security, infrastructure development and fair trade. READ MORE

2:40 PM

Sector ALERT:: Nifty Bank slips into red; AU Bank sheds 2%

2:29 PM

Market Check:: Sensex sheds over 350 pts from day's high

2:20 PM

Stock with work orders in Lakshadweep, Ayodhya has zoomed 91% in 15 days

Shares of Praveg (formerly Praveg Communications) surged 19 per cent to hit a new high of Rs 1,210 on the BSE in Tuesday’s intra-day trade. READ MORE

2:13 PM

Bank FD rates soar: Right time for investors to secure peak returns

Small finance banks' FDs yield more than larger banks' offerings, but invest in them sparingly. Investors need to lock into current peak rates before they begin to decline. READ MORE

1:59 PM

ICICI hiring 30 investment bankers on expectations of record fundraising

Positions range from associate to executive vice president level, with most of the senior hires coming from rival banks, Saraf told Bloomberg News in a recent interview in Mumbai. READ MORE

1:47 PM

Banks' net profit likely to grow by 16.7% in Q3 due to high credit offtake

Gaining from high credit off-take and lower credit costs, banks are likely to post 16.7 per cent year-on-year (Y-o-Y) growth in net profit during the third quarter of the financial year ended December 2023 (Q3 FY24).  READ MORE

1:32 PM

Power equipment sector's order book charged up on transmission projects

Power equipment suppliers are sitting on surplus order books for the next two financial years on the back of record-high tendering of large-scale power transmission projects. READ MORE

1:17 PM

Asian Market Update:: Japan's Nikkei shines in mixed trade

Source: Yahoo Finance

1:04 PM

Market check:: Sensex trades firmly near day's high, up 650 pts

12:45 PM

Bajaj Auto, IndiGo, Zee: Trading strategies for stocks in news on Tuesday

Benchmark equity indices bounced back strongly in intra-day deals on Tuesday taking cues from a strong show by global peers. Similarly, a large number of stocks were seen buzzing in trade on the back of active news flow at the counter. Read

12:31 PM

China's invasion of Taiwan to cost around $10 trn, nearly 10% of global GDP

China's rising economic and military heft, Taiwan's burgeoning sense of national identity, and fractious relations between Beijing and Washington mean the conditions for a crisis are in place. Read

12:15 PM

Will govt compromise on capex for fiscal consolidation ahead of polls?

While it is expected that the Modi regime 0.2 would be able to rein in its fiscal deficit at Rs 17.87 trillion during its concluding year 2023-24, as pegged in the Budget, it is also likely that the government may find it a bit challenging to contain it at 5.9 per cent of gross domestic product (GDP) due to likely less than projected growth in the size of the economy. Read

12:02 PM

Motisons hits 20% upper limit as shares begin trading under rolling segment

Shares of Motisons Jewellers were locked in the 20-per cent upper circuit, at Rs 154 on the BSE in Tuesday's intraday trade, after the company started trading in the 'rolling segment' from 'Trade for Trade segment' (T Group) with effect from today. Accordingly, the dealings in the equity shares of the company has shifted under B Group. Read

11:50 AM

Loan claims under guarantee scheme face audit by govt agency: Bandhan Bank

India's Bandhan Bank said on Tuesday that the National Credit Guarantee Trustee Company (NCGTC) has decided to undertake an audit of loan claims filed by the lender under a guarantee scheme.
 

The bank clarified in an exchange filing that the regulator has not initiated a broader audit. Read

11:37 AM

Gautam Singhania's JK Investors pays Rs 328 cr penalty in customs case

In a resolution to a case filed by the Directorate of Revenue Intelligence (DRI), the Gautam Singhania-led Raymond Group, through its unit JK Investors (Bombay) Ltd, has paid a penalty of Rs 328 crore, according to a report by The Economic Times (ET). The case, which alleged customs duty evasion, pertained to the import of 142 cars and was closed in January last year. Read

11:20 AM

Zee Ent tanks 13% in worst day since Feb 2023 as Sony may call off merger

The average trading volumes on the counter jumped over six-fold today. A combined 57.39 million equity shares, representing nearly 6 per cent of total equity of ZEEL, changed hands on the NSE and BSE. Read

11:07 AM

Gold, silver prices fall Rs 200, yellow metal selling at Rs 63,050

The price of 24-carat gold dipped Rs 220 in early trade on Tuesday, with ten grams of the precious metal selling at Rs 63,050, according to the GoodReturns website. The price of silver fell Rs 200, with one kilogram of the precious metal selling at Rs 76,400. Read