Market: Sensex up 200 points, Nifty above 17,800; metal weak – World Affairs SRS

Market: Sensex up 200 points, Nifty above 17,800; metal weak

– World Affairs SRS

market at 11 am

LIVE Market Updates: Benchmark indices were at day’s high, but edged higher in morning trade. The BSE Sensex was up 200 points at 59,860 and the NSE Nifty was up 76 points at 17,822.

There was extensive buying in the market. The broader markets were also positive, with the BSE Midcap and Smallcap indices rising 0.6 per cent each. Oil India, Jubicent Food, PageInd, IRCTC, Godrej Ind, JSW Energy, AU Small Finance Bank, Whirlpool and Voltas were the top gainers in midcap stocks, rising 2-9 per cent.

IT and banks were the gainers on the Sensex. Dr Reddy’s and Sun Pharma were down 0.1 per cent in pharma stocks. Auto majors M&M and Maruti were also in the red. The top losers were Bajaj Twins, HDFC, Tata Steel and L&T.

Sector wise, metal, pharma and auto indices were in the red, falling up to 0.3 per cent.

Since the opening, pharma stocks are under pressure as ICMR’s warning statement against Molnupiravir could potentially affect the company’s pill sales. Read here to know more.

Moreover, among stocks, shares of KPIT Technologies touched a new high of Rs 749, gaining over 19 per cent on the BSE in huge amounts. In the last 14 trading days, the information technology (IT) consulting and services company’s stock has jumped up to 64 per cent on a strong outlook. Read moreMeanwhile, Tata Group’s telecom services company, Tata Teleservices (Maharashtra) (TTML), has entered the list of top-100 most valuable companies in terms of market capitalization in the country on the back of a strong rally. The stock has hit a new record high of Rs 264 in the last three months and has gained 567 per cent. Read more


market at 10 am

LIVE Market Updates: Benchmark indices were seen with early gains with gains of up to 0.8 per cent. The BSE Sensex was up 490 points at 60,100 and the NSE Nifty at 17,893, up 147 points.

The indices remained stable on the BSE with heavyweights RIL (up 1.4 per cent) and banking counters such as ICICI Bank and HDFC Bank gaining 1.8 and 1.3 per cent, respectively.

Reliance was seen making strong gains on its Reliance Retail buyout of a 25.8 per cent stake in Dunzo, a major instant commerce player, for $200 million, as the group looks to expand into the online grocery delivery space.

IT majors Wipro, Infosys, Tech Mahindra, HCL Technology and TCS were also trading higher after two days of losses.

Sectorally, the Nifty IT index was also seen recovering from the opening and was up 0.6 per cent. All the indices remained in the green. Banks, realty and oil and gas stocks were among the top gainers on the NSE.

Among stocks, Hinduja Global Solutions (HGS) shares closed 20 per cent lower at Rs 2,927.80 on the BSE, after the company announced a 1:1 bonus share and an interim dividend of Rs 150 per share, while profit-booking. Read more


opening bell

LIVE Market Updates: A day after heavy selling on weak global cues, benchmark indices made a positive opening day.

The BSE Sensex was up 267 points at 59,869, while the Nifty 50 was up 79 points at 17,825. Both the indices were up 0.46 per cent compared to yesterday’s fall of over 1 per cent.

In the broader market, BSE Midcap and Smallcap indices were also in the green and were up 0.5 and 0.6 per cent respectively.

Among Sensex-30 constituents, Titan, ICICI Bank, HDFC Bank, SBI, Kotak Bank, RIL and PowerGrid were the top gainers between 0.9-2.2 per cent. On Nifty, ONGC, Grasim, BPCL, Coal India and IOC were additonal gainers.

Sector-wise, all indices on the NSE were in the green except pharma (down 0.45 per cent). IT, which was up only 0.02 per cent, was also muted. Meanwhile, Nifty Bank index was the top gainer with gains of over one per cent.

Notably, among stocks, Titan was trading 2.5 percent higher on Thursday in the company’s quarterly update, saying it saw strong demand in its consumer businesses and 36 percent revenue growth in the festive quarter in 2021. It also added 14 more stores, taking its store count to 428.
Similarly, Kalyan Jewelers, another jewelery player, reported Q3 consolidated revenue growth of over 17 per cent in an update this morning. Gross margin improved sequentially for the December quarter, it said. The stock rose 3 per cent.

,pre-open session

Live Market Updates:

Benchmark indices were slightly positive in the pre-open session on Friday. The BSE Sensex was up 120 points at 59,720 and the NSE Nifty was up 68 points at 17,813.


LIVE Market Updates: Looking at mixed global cues, major benchmark indices may have a muted start on Thursday after a day of heavy losses. At 8 am, the SGX Nifty futures were at 17,839 levels, 39 points higher than the Nifty’s spot close on the previous day.

Investors panicked on Thursday after heavy selling in global markets as fears of a sharp hike in US interest rates weighed on the markets.

Meanwhile, among stocks, Reliance may be in focus as its arm Reliance Retail has bought a 25.8 per cent stake in Dunzo, a major instant commerce player, for $200 million, as it looks to expand into the online grocery delivery space.

Titan can also be seen as the Tata-owned jewelery business company, in its quarterly update, has said that it saw strong demand in its consumer businesses and saw 36 per cent revenue growth in the festive quarter in 2021. It also added 14 more stores taking its store count to 428.

global signal

US markets ended a choppy session of trading with minor losses as technology stocks fell for the second day in a row. The Dow Jones closed 0.5 per cent lower and the S&P 500 and Nasdaq 0.1-0.1 per cent lower. Tonight, the market may take cues from US jobs data.

Global oil prices rose amid unrest in OPEC+ oil producer Kazakhstan and supply disruptions in Libya. On Thursday, Brent crude rose 1.5 percent to $ 81.99 a barrel and WTI crude was up 1.6 percent to $ 79.46 a barrel.

Major markets in Asia witnessed massive gains this morning. Kospi was up more than one per cent. The Nikkei and Hang Seng gained 0.5-0.5 per cent each, while the Shanghai Composite and Straits Times gained 0.4 per cent, respectively. However, Taiwan declined 0.2 per cent.

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                  First published: Fri, 07 January 2022.  08:16 IST             
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