Page 1132 - Markets News
Sensex zooms 690 pts, Nifty tops 21,450; broader indices gain nearly 2%
Stock market highlights on January 24, 2024: The pockets that helped the markets end higher were metals, PSU banks, pharma, and FMCG stocks
 "Sensex zooms 690 pts, Nifty tops 21,450; broader indices gain nearly 2%")
TRIL freezes at 20% upper limit; hits new high on healthy business outlook
The company had a strong order book position of Rs 2,572 crore as on December 31, 2023 (Q3FY24).
 "TRIL freezes at 20% upper limit; hits new high on healthy business outlook")
South Indian, IDBI Bank gain up to 14%; hit multi-yr highs post Q3 results
IDBI Bank surged 14% to hit over five-year high of Rs 86.97; while South Indian Bank hit a fresh six-year high of Rs 33.70 on soaring 9% backed by heavy volumes.
 "South Indian, IDBI Bank gain up to 14%; hit multi-yr highs post Q3 results")
Global funds sell most of Indian stocks since 2022 post-record rally
Global funds sold $2.4 billion of Indian shares on a net basis last week, the most since June 2022
 "Global funds sell most of Indian stocks since 2022 post-record rally")
RIL, Asian Paints, Axis Bank: Key levels to watch out for post Q3 results
As stocks turn volatile post Q3 results, watch out for these key levels on the likes of ICICI Bank, Hindustan Unilever, CoForge and UltraTech Cement among others and plan your trading strategy.
 "RIL, Asian Paints, Axis Bank: Key levels to watch out for post Q3 results")
Sebi gives offshore funds additional 7 mths to liquidate holdings: Rpts
"There is no immediate deadline or cliff for offshore funds to liquidate any holdings," said the first of the two sources
 "Sebi gives offshore funds additional 7 mths to liquidate holdings: Rpts")
Indian bonds set for new era with $100 billion inflows likely: HSBC AM
India's trillion-dollar sovereign bond market is gearing up for a rush of foreign money in the run-up to inclusion in JPMorgan Chase & Co.'s emerging markets bond index in June
 "Indian bonds set for new era with $100 billion inflows likely: HSBC AM")
IREDA up 31% in four days on robust Q3 results; zooms 405% over issue price
For Q3FY24, IREDA reported a healthy 67 per cent year-on-year (YoY) increase in profit after tax (PAT) of Rs 335 crore
 "IREDA up 31% in four days on robust Q3 results; zooms 405% over issue price")
Stock of this company engaged in Solar EPC biz has zoomed 117% in 7 weeks
Shares of Waaree Renewable Technologies on Wednesday were locked in the 5 per cent upper circuit for the third straight session on BSE
 "Stock of this company engaged in Solar EPC biz has zoomed 117% in 7 weeks")
Axis Bank sinks 6% in sharpest fall in 5 months; Motilal downgrades stock
MOFSL said an elevated CD ratio will constrain credit growth, while continued re-pricing of deposits will likely exert pressure on margins in the coming quarters.
 "Axis Bank sinks 6% in sharpest fall in 5 months; Motilal downgrades stock")
Bajaj Auto Q3 preview: Adverse product mix may hurt margins, say analysts
Two-wheeler major Bajaj Auto is expected to post over 30 per cent year-on-year rise in both, revenue and net profit, when it reports its December quarter (Q3FY24) earnings on Wednesday, January 24
 "Bajaj Auto Q3 preview: Adverse product mix may hurt margins, say analysts")
Stocks to Watch today: Axis, HDFC Bk, LTFH, Airtel, Lupin, REC, JSW Energy
Stocks to watch on Wednesday, January 24, 2024: Bajaj Auto, Canara Bank, DLF, Exide, Indian Oil, Tata Steel, Tech Mahindra and TVS Motor to announce Q3 results today.
 "Stocks to Watch today: Axis, HDFC Bk, LTFH, Airtel, Lupin, REC, JSW Energy")
Zydus Life, ICICI Bank: Stocks to buy in current market set-up
On the broader market outlook, Vinay Rajani technical & derivative analyst of HDFC Securities says the Nifty has confirmed a bearish trend reversal, and could see further downside in coming days.
 "Zydus Life, ICICI Bank: Stocks to buy in current market set-up")
Bank Nifty, Financial Services Indices: Plan to enter near support areas
According to Ravi Nathani, an independent technical analyst, anticipated support levels on charts for Bank Nifty are identified around 44,600, 43,500, and 42,900.
 "Bank Nifty, Financial Services Indices: Plan to enter near support areas")
Rs 8 trillion wiped out as markets shed 1.5%; Zee shares slump 30%
Selloff led by banks, oil and gas stocks, FMCG, and metals
 "Rs 8 trillion wiped out as markets shed 1.5%; Zee shares slump 30%")
Abolish STT, sops for rural India: What markets expect from interim budget
Interim budget proposals are likely to have a hint of populism given the upcoming general elections, believe analysts, but unlikely to derail the government from its path of fiscal prudence.
 "Abolish STT, sops for rural India: What markets expect from interim budget")
Equity, money markets in the US remain polarised, says Chris Wood
Another key development in the US, that the global equity markets would eye over the next few months, is how the political landscape shapes up ahead of the presidential elections
 "Equity, money markets in the US remain polarised, says Chris Wood")
Promoters can offer shares to staff via stock exchange mechanism: Sebi
At present, shares under OFS are offered to the staff outside the stock exchange mechanism
 "Promoters can offer shares to staff via stock exchange mechanism: Sebi")
Zee nosedives 30% in worst single-day fall after Sony scraps deal
After the deal with Sony was terminated, nearly half a dozen brokerages downgraded Zee's stock while lowering the earnings multiple assigned to the cash-strapped company
 "Zee nosedives 30% in worst single-day fall after Sony scraps deal")
Bank of Japan meeting gives yen a jolt, euro dips amid global volatility
After that excitement, however, the yen last traded flat on the day at 148.0 per dollar, having been as weak as 148.6 and as strong as 146.9
 "Bank of Japan meeting gives yen a jolt, euro dips amid global volatility")