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Market Close: Benchmark indices lower with Nifty below 18200 amid selling seen in the final hour of session on January 18.
At close, the Sensex was down 554.05 points or 0.90% at 60,754.86, and the Nifty was down 195.10 points or 1.07% at 18,113. About 1007 shares have advanced, 2218 shares declined, and 59 shares are unchanged.
Tata Consumer Products, Maruti Suzuki, UltraTech Cement, Eicher Motors and Tech Mahindra were the top Nifty losers. Gainers were Axis Bank, HDFC Bank, Dr Reddy’s Labs, ICICI Bank and Kotak Mahindra Bank.
All the sectoral indices are trading in the red with auto, IT, capital goods, metal, realty, pharma and FMCG down 1-2 percent. BSE midcap and smallcap indices down 1-2 percent.
Nifty IT index shed 1 percent dragged by the Coforge, Mindtree, Tech Mahindra
Kotak Pre-IPO Opportunities Fund raises Rs 2,000 crore
Kotak Investment Advisors Limited (KIAL) today announced that it has successfully closed its maiden Kotak Pre-IPO Opportunities Fund, raising Rs 2,000 crore.
The Pre-IPO Fund will invest in a range of India focused late-stage new-age businesses with a strong moat of technology.
Dhaval Ajmera, Director of Ajmera Realty and Infra India:
The recent decline in home loan interest rate to below 6.5% and stamp duty reduction has made home buying affordable for buyers. Due to the constant push by the government, we have seen a significant revival in the residential properties which has influenced the sentiments of the fence sitters.
We have also observed some of the existing home buyers who are also considering to upgrade to a more spacious apartment. Talking about the housing inventory, with the current housing sales momentum, it will further reduce the inventory overhang in the next 3 to 4 quarters.
Network 18 Media & Investments Q3 earnings
Network 18 Media & Investments has posted 16.5 percent jump in its Q3 operating revenue at Rs 1,657.4 crore versus Rs 1,422.5 crore in the same quarter last fiscal.
Its operating EBITDA was up 15% at Rs 373.1 crore against Rs 324.5 crore and margin was at 22.5 percent versus 22.8 percent, YoY.
Network 18 Media & Investments was quoting at Rs 90.95, down Rs 0.50, or 0.55 percent on the BSE.
Market Update:
Benchmark indices slipped 1 percent and trading at day’s low level amid selling seen in the auto, IT, metal, pharma, FMCG names.
The Sensex was down 598.68 points or 0.98% at 60710.23, and the Nifty was down 203.80 points or 1.11% at 18104.30. About 1072 shares have advanced, 2141 shares declined, and 63 shares are unchanged.
Kotak Pre-IPO Opportunities Fund raises Rs 2,000 crore
Kotak Investment Advisors Limited (KIAL) today announced that it has successfully closed its maiden Kotak Pre-IPO Opportunities Fund, raising Rs 2,000 crore.
The Pre-IPO Fund will invest in a range of India focused late-stage new-age businesses with a strong moat of technology.
Oil climbs to more than 7-year high
il prices rose more than $1 on Tuesday to a more than seven-year high on worries about possible supply disruptions after Yemen’s Houthi group attacked the United Arab Emirates, escalating hostilities between the Iran-aligned group and a Saudi Arabian-led coalition.
The “new geopolitical tension added to ongoing signs of tightness across the market,” ANZ Research analyst said in a note.
Brent crude futures rose $1.37, or 1.6%, to $87.85 a barrel by 0738 GMT, while U.S. West Texas Intermediate (WTI) crude futures jumped $1.71, or 2%, from Friday’s settlement to $85.53 a barrel. Trade on Monday was subdued as it was a U.S. public holiday.
Both benchmarks climbed to their highest levels since October 2014 on Tuesday.
TV18 Broadcast Q3: Operating revenue was up 15.1% at Rs 1,567.1 crore against Rs 1,361 crore (YoY). EBITDA was up 10.7% at Rs 355 crore against Rs 320.7 crore (YoY). EBITDA margin at 22.7% against 23.6% (YoY). News business saw sharp improvement in margin to 27.2%; revenue was up 13% YoY. Entertainment business margin at 21.4%; revenue gained 16% YoY.
ICICI Securities Q3: Consolidated net profit jumped 42.4% at Rs 380.3 crore against Rs 267 crore (YoY). Consolidated Revenue was up 51.8% at Rs 941.6 crore against Rs 620.1 crore (YoY). Consolidated EBITDA gained 53.2% at Rs 608.3 crore against Rs 397 crore (YoY). Consolidated EBITDA margin at 64.6% against 64% (YoY).
Most active stocks on NSE in terms of volumes
