Share Market News Today | Sensex, Nifty, Share Prices Highlights: Indian benchmark indices ended higher for third straight day in the volatile session on January 11 led by the IT, power, realty stocks. Sensex ended 221.26 points or 0.37% higher at 60616.89, and the Nifty was up 52.50 points or 0.29% at 18055.80. HCL Technologies, Adani Ports, ONGC, HDFC and Tech Mahindra were among the top Nifty gainers. Losers were JSW Steel, Tata Steel, BPCL, Hindalco Industries and Coal India. Sectorally, metal index fell over 2 percent, while buying was seen in the IT, power, oil & gas and realty stocks. The BSE midcap and smallcap indices ended flat.
Shares of Paytm (One 97 Communications) were in focus on Tuesday. Number of loans disbursed through Paytm’s platform increased by 401% YoY to 0.44 crore loans in Q3FY 2022. The value of loans disbursed through the platform in Q3 FY 2022, was Rs 2,180 crore, an increase of 365% YoY. Paytm has seen a stellar growth in each of its lending products. However, the share hit 52-week low on Monday and share price may extend its losses further and erase more than half of IPO investor’s wealth, said foreign brokerage firm Macquarie in a note. The brokerage firm has cut its target price for the fintech giant to merely Rs 900 per share, 25% lower from its previous target of Rs 1,200 and 58% below the public issue price of Rs 2,150.
The index has once again given a strong close. We should look forward to higher targets for the Nifty – 18400-18500 is a possibility. A strong support lies at 17700 and as long as that holds, any corrective wave can be looked at strategically to accumulate long positions, said Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments.
Indian equity markets ended the day in green for a third straight day. After fluctuating 408 points through the day, the BSE Sensex index closed 221 points or 0.37 per cent higher at 60,617 level, while Nifty50 settled at 18,056 levels, up 52.45 points or 0.29 per cent. HDFC was the top contributor towards the Sensex's total gains, followed by RIL, HCL Tech, TCS, Infosys, Tech Mahindra, and HDFC Bank. On the downside, Tata Steel (down 3.4 per cent), Bajaj Finance, Kotak Bank, ITC, and Dr Reddy's were the top laggards.
“Nifty is closing above 18,050 but losing some steam as volumes are not expanding along with Bearish Divergence on Hourly Charts. View is not bearish but it's prudent to book profits in long derivatives positions,” said Rahul Sharma, Director & Head – Research, JM Financial.
Asset financing company Shriram Transport Finance Company a part of the Shriram Group, has successfully raised $475 million Fixed Rate Senior Secured 144A /Reg S Bond for a 3.5-year tenor at an interest rate of 4.15%. This marks the 7th successful USD bond issuance by the Company since the relaxation in the ECB guidelines. The proceeds from the STFC social bond would be used for employment generation, including through micro, small, and medium-sized enterprise (MSME) financing
Wipro share price gained over half a per cent to Rs 698.50 apiece on Tuesday, a day before October-December quarter earnings release. Even as the stock has fallen nearly 3 per cent in the last five days and 3.24 per cent so far this year, it has delivered returns of 8 per cent in the last one month and 32.25 per cent in six months. However, the stock has rallied over 55 per cent in one year. Wipro is likely to post up to 5 per cent revenue growth in constant currency terms in October-December quarter of FY22, said analysts. The company will release its quarterly earnings along with Tata Consultancy Services (TCS) and Infosys on Wednesday.
There is no such direct impact on Bharti Airtel and Reliance Jio of government's major stake in Vodafone Idea while both are in a strong position to outperform from here. There is one silver lining in this event that government may be more focused on reforms for this sector as they have now become major shareholders in Vodafone Idea, said Santosh Meena, Head of Research, Swastika Investmart Ltd.
One 97 Communications, the operator of digital payments platform Paytm, fell over 2 percent to hit a fresh record low on Tuesday, despite more than four times jump in loan disbursals in December 2021 quarter. Number of loans disbursed through Paytm's platform increased by 401 percent YoY to 4.4 million loans in Q3 FY2022 and the value of loans disbursed during the quarter was Rs 2,180 crore (run-rate of $1.2 billion), an increase of 365 percent YoY.
Rakesh Jhunjhunwala-owned SAIL’s (Steel Authority of India) share price has plummeted 15.18% in the last six months to now trade at Rs 105.85 per share. The stock saw a stellar run on Dalal Street during the last few months of 2020 and the beginning of 2021 but failed to continue the upward momentum. Looking ahead into 2022, analysts at Kotak Securities believe the company could be in for a double whammy of higher coking coal costs and lower steel realization which may result in a sharp contraction in SAIL’s margins. Kotak Securities has downgraded the stock to ‘Reduce’ from the ‘Buy’ rating earlier. A fair value of Rs 110 has been pinned on the stock.
The benchmark indices were steady in afternoon trade holding mild gains. BSE Sensex was up 123 points at 60,519, while the NSE Nifty was 29 points higher at 18,033. The two were higher by up to 0.2 per cent. Heavyweight like RIL, HDFC, HCL Tech, Infosys, Sun Pharma were the top gainers and were supporting the indices' gains. In the Nifty pack, Divis Labs, NTPC and Grasim were the additional gainers. Sectorally, realty and IT indices were the top gainers on the NSE, up 1.8 and 0.8 per cent respectively. The bank index, which was sharply low early in the day, also recouped some losses and was trading flat.
Indian equity markets were muted on Tuesday amid mixed global cues. Benchmark indices Sensex and Nifty were trading flat with positive bias. While The BSE Sensex was up 200 points at 60,596, the NSE Nifty50 was at 18,036, up 32.8 points or 0.18%. In the broader markets, the BSE MidCap and SmallCap were also higher by 0.2 and 0.5 percent, respectively. Meanwhile, Nifty Bank was down 119 points or 0.31% at 38,228. A total of 550 stocks hit 52-week high on BSE by noon, while three scrips including Paytm, PolicyBazaar touched fresh lows. Meanwhile, 194 stocks hit 52-week highs on NSE, and five scrips were at fresh lows intraday.
Indian share markets along with global markets will see a selloff in the first half of the year and then a bounce later as interest rates would still remain conducive for positive economic growth, said Sandip Sabharwal, investment advisor, in an interview with Surbhi Jain of Financial Express Online. Sabharwal said that in the bull case scenario the market may deliver up to 15 per cent growth this year while in the bear case it may remain flat with some volatility. As COVID-19 cases surge, Sabharwal noted that pharma stocks could be a contra bet for 2022. He also discussed which sectors will remain in focus ahead of the Union Budget 2022. Here are the edited excerpts.
Shares of Vodafone Idea slumped 19 per cent to Rs 12.05 on the BSE in Tuesday’s intraday trade after the telecom company’s board approved conversion of adjusted gross revenue (AGR) and spectrum liabilities into equity. After today’s plunge, Vodafone Idea stock has corrected 28 per cent from its 52-week high level of Rs 16.79 touched on December 10, 2021.
Indian rupee opened 9 paise higher at 73.94 per US dollar on Tuesday against previous close of 74.03. The greenback rose 0.27% yesterday as recent job data was seen solid enough to keep the Federal Reserve tightening path intact. The market expects the US Federal Reserve to be more aggressive in tightening monetary policy to tame stubbornly high inflation. Rupee future maturing on January 27 appreciated by 0.38% on a rise in risk appetite in domestic markets. However, further gain was prevented on elevated crude oil prices and strong dollar, said ICICI Direct.
Petronet LNG and auto giant Maruti Suzuki shares may gain up to 15% in the next three months, analysts at ICICI Direct said. The brokerage firm has analysed the performance of both the scrips in the derivatives market and has given bullish outlooks for three months based on the trading activity. Domestic markets have started the year on a strong note with Sensex and Nifty gaining more than 3% each. S&P BSE Sensex and NSE Nifty 50 are now just close to 3% away from their all-time highs. The recent run-up has been helped by the return of Foreign Institutional Investors (FII), positive economic outlook despite the ongoing covid-19 pandemic, and the expected strong quarterly results.
Shares of Vodafone Idea tanked 15% on Tuesday after the board of Vodafone Idea Ltd approved conversion of AGR dues and spectrum interest into equity, leading to the government becoming a nearly 36% stakeholder in the telecom major.
Indian equity markets opened flat with positive bias on Tuesday (January 11) amid mixed global cues. The Sensex was up 150.95 points or 0.25% at 60546.58, and the Nifty was up 45.50 points or 0.25% at 18048.80.
The board of Vodafone Idea Ltd has approved conversion of AGR dues and spectrum interest into equity, leading to the government becoming a nearly 36% stakeholder in the telecom company. Following conversion, it is expected that the Government will hold around 35.8% of the total outstanding shares of the Company, while the promoter shareholders Vodafone Group and Aditya Birla Group would hold around 28.5% and around 17.8% stake in the company respectively.
Future Retail: Amazon has moved the Supreme Court against the Delhi High Court’s order that stayed the arbitration proceedings initiated by the e-commerce giant before a Singapore tribunal against Future Retail.
Telecom stocks: The adjusted gross revenue (AGR) of the telecom industry rose 4.24% sequentially to Rs 53,510 crore for the July-September 2021 period. The access services or mobile services AGR of Bharti Airtel, Reliance Jio and Vodafone Idea rose during the period, while that of state-run BSNL witnesses a drop, showed data released by TRAI.
Benchmark indices are trading flat in the pre-opening session. At 09:03 am, the Sensex was down 91.84 points or 0.15% at 60303.79, and the Nifty was down 31 points or 0.17% at 17972.30.
Benchmark Indices are expected to open on negative note as suggested by trends on SGX Nifty. Both European and US markets closed in red. Asian markets are also trading in red. India continues to witness exponential rise in new covid cases but the hope of stupendous earning season along with positive sentiment regarding the forthcoming budget continues to drive the market in upward trajectory. Benchmark indices may face some resistance around 18150 and 18200 and can witness a minor corrective fall, said Mohit Nigam, Head – PMS, Hem Securities.
Nifty closed at call writing resistance of 18000 while Put writers were seen shifting base to 17800. Nifty PCR has risen to 1.45 level. Both Nifty Futures and Bank Nifty Futures added longs but volumes were on lower side by 25% indicating lack of participation at higher end. FIIs took a back seat but it was DIIs and Retail which added longs yesterday. Expect more upside if 18,050 is surpassed which can take Nifty up to 18200-18250. Support zone placed at 17800-17850, said Rahul Sharma, Director & Head – Research, JM Financial Services.
Asian stocks slipped Tuesday and U.S. futures fluctuated ahead of a key inflation print stateside that’s expected to strengthen the case for tighter monetary policy. A gauge of Asia Pacific shares dropped with modest losses seen in many markets. S&P 500 contracts were little changed after the benchmark posted its longest losing streak since September, though dip buyers emerged late in the session to wipe out almost all intraday losses.
Nifty has finally reclaimed the 18000 mark within a very short period post the recent correction. This clearly indicates the strong momentum and buying interest of market participants. In our last week’s update, we had mentioned about the target zone of 18000-18050 for Nifty which was achieved today. Now, although the trend continues to be positive, the index is trading around its short term hurdle as a certain combination of retracements of the recent correction points out resistance in the range of 18000-18100, said Ruchit Jain, Lead Research, 5paisa.com.
“Nifty finds support around 17650 while 18200 will act as resistance. Bank Nifty finds support around 37650 while 38650 will act as resistance on the upside,” said IIFL Securities.
Early trends on SGX Nifty hinted at a flat to negative start for the broader index in India, with a loss of 65 points or 0.36%. The Nifty futures were trading around 17,982.50 level on the Singaporean Exchange at 7:30 am.
The Indian equity markets started the week on a strong note, with the Sensex closing above 60,000 and the Nifty going past the psychologically important 18,000-mark on Monday. Despite mixed global cues, the market started strong and extended gains to close near the day's high as auto, bank, power and realty stocks lifted the indices. At close, the Sensex was up 650.98 points, or 1.09 percent, at 60,395.63, and the Nifty was up 190.60 points, or 1.07 percent, at 18,003.30.
Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market News Live Updates January 11
