Page 1127 - Markets News
HUL hits 18-month low; stock plunges 8% in 2 days post weak Q3 results
The market price of HUL has fallen below its previous low of Rs 2,393, hit on March 15, 2023. It is trading at its lowest level since July 2022
 "HUL hits 18-month low; stock plunges 8% in 2 days post weak Q3 results")
HDFC Bank hits 52-wk low; wipes Rs 1.9 trn m-cap with 15% fall in 1 week
The stock slipped nearly 4% to Rs 1,425.05 on the BSE in intra-day trade, falling below its previous low of Rs 1,460.55 touched on October 26, 2023.
 "HDFC Bank hits 52-wk low; wipes Rs 1.9 trn m-cap with 15% fall in 1 week")
Zee plummets 30% as Sony calls off merger; CLSA downgrades stock to 'sell'
With Zee-Sony merger being terminated, we believe Zee's price-to-earnings (PE) will slump back to 12x levels, seen prior to the Sony merger announcement, CLSA said
 "Zee plummets 30% as Sony calls off merger; CLSA downgrades stock to 'sell'")
Medi Assist Health sees decent debut, lists at 11% premium over issue price
Post listing, the stock moved 24 per cent higher to Rs 518 on NSE. It hit a high of Rs 509.60 on the BSE in intra-day trade
 "Medi Assist Health sees decent debut, lists at 11% premium over issue price")
Persistent Systems zooms 10% on strong Q3 results; okays 1:2 stock split
In past 6 months, the stock price of Persistent Systems has zoomed nearly 80 per cent. In comparison, the S&P BSE Sensex was up 8 per cent during the same period.
 "Persistent Systems zooms 10% on strong Q3 results; okays 1:2 stock split")
Stocks to Watch today: Zee, Cipla, MRPL, Axis Bank, Medi Assist, JSW Group
Stocks to watch on Tuesday, January 23, 2024: Zee Entertainment in focus as Sony India calls-off merger; Axis Bank, Havells, JSW Energy, L&T Housing Finance, RECL and Tata Elxsi to Q3 results today.
 "Stocks to Watch today: Zee, Cipla, MRPL, Axis Bank, Medi Assist, JSW Group")
AC manufacturer Voltas stock hots up on hopes of a cooler outlook
Manufacturers have also started to stock channels in anticipation of summer demand which may kick in from Q4FY24
 "AC manufacturer Voltas stock hots up on hopes of a cooler outlook")
India's sudden stock, currency market holiday risks denting global image
The inauguration of the Ram temple in northern India on Monday marks a new milestone in Modi's project of reshaping the country into a more avowedly Hindu nation
 "India's sudden stock, currency market holiday risks denting global image")
HDFC Bank-led FPI selloff: The fifth-highest weekly exit since 2008
The hardening of US Treasury yields also weighed on sentiment and raised concerns about whether the Federal Reserve would lower interest rates at the same pace as the Street has priced
 "HDFC Bank-led FPI selloff: The fifth-highest weekly exit since 2008")
Global currencies stabilise amid Central bank decision uncertainty
Japan's yen was one of the bigger movers, heading away from Friday's 148.80 per dollar, its weakest in a month, to as firm as 147.74, as the Bank of Japan started its two-day policy meeting
 "Global currencies stabilise amid Central bank decision uncertainty")
India's IPO market one of the busiest in world but it is also broken
It's the regulator's job to ensure that companies with reasonably solid prospects come to public markets and offer stock at a price that allows long-term wealth creation
 "India's IPO market one of the busiest in world but it is also broken")
Ram Temple consecration: Stock and money markets to be shut today
In a circular, the NSE said the currency derivative segment would remain closed on January 22
 "Ram Temple consecration: Stock and money markets to be shut today")
FPIs turn cautious, pull out Rs 13,000 cr from Indian stocks in Jan: Data
Besides, FPIs were big sellers in other emerging markets such as Taiwan, South Korea and Hong Kong
 "FPIs turn cautious, pull out Rs 13,000 cr from Indian stocks in Jan: Data")
Hedge funds bring in record profits betting on 'catastrophe' bonds
Behind those record returns were bold bets on catastrophe bonds and other insurance-linked securities
 "Hedge funds bring in record profits betting on 'catastrophe' bonds")
Street Signs: A case for PSU share sales, Nova Agri GMP at 50%, and more
The promoter shareholding in Jio Financial Services, a unit spun off from Reliance Industries, has edged higher for a second straight quarter
 "Street Signs: A case for PSU share sales, Nova Agri GMP at 50%, and more")
Saturday blues: Exchanges see 30% drop in trading volumes, shows data
Market players said muted participation from institutional investors weighed on the activity, with several counters logging muted volumes
 "Saturday blues: Exchanges see 30% drop in trading volumes, shows data")
Nifty50 may see one change, Next50 seven in March rejig, shows data
The cutoff date for calculating the changes to various Nifty indices is January 31. The index provider typically announces the outcome of the rebalancing exercise during the second half of February
 "Nifty50 may see one change, Next50 seven in March rejig, shows data")
Quarterly earnings, global trends to guide mkts in holiday-shortened week
It will be a trading holiday on January 22, with the Maharashtra government announcing a holiday in connection with the consecration of the Ram Temple in Ayodhya
 "Quarterly earnings, global trends to guide mkts in holiday-shortened week")
Mcap of top 5 valued firms erode by Rs 1.67 trn, HDFC Bank biggest laggard
The market valuation of HDFC Bank eroded by Rs 1,22,163.07 crore to Rs 11,22,662.76 crore
 "Mcap of top 5 valued firms erode by Rs 1.67 trn, HDFC Bank biggest laggard")
Sensex falls 260 pts in fag-end, Nifty holds 21,550; FMCGs crack, PSBs soar
Stock market highlights on January 20, 2024: Among sectors, the Nifty IT, and FMCG indices fell 1 per cent each, while the Nifty PSU bank index added 1.9 per cent
 "Sensex falls 260 pts in fag-end, Nifty holds 21,550; FMCGs crack, PSBs soar")