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Market LIVE: Sensex extends gains, crosses 49,100, Nifty above 14,450; RIL, HDFC, TCS top contributors – The Financial Express

Nifty Media and Nifty Realty indices were top sectoral indices, up over 2 per cent.Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic equity market benchmarks BSE Sensex and Nifty 50 were trading positive on Tuesday. BSE Sensex jumped 450 points to reclaim 49,000-mark, while the broader Nifty 50 index crossed 14,400. Except for HDFC Bank, all BSE Sensex constituents were trading in the green led by Bajaj Finance and IndusInd Bank shares. State Bank of India and Maruti Suzuki were among other gainers. All Nifty sectoral indices were trading with gains in Tuesday’s upbeat session. Nifty Media and Nifty Realty indices were top sectoral indices, up over 2 per cent. Asian stock markets were trading mixed in early trade with South Korea’s Kospi rising 1.62 per cent. Japan’s Nikkei 225 jumped 1.41 per cent while the Topix index gained 0.63 per cent.The Rs 4,633-crore Indian Railway Finance Corporation (IRFC) initial public offer (IPO) was subscribed 76 per cent so far on day two of the bidding process. Employee category was subscribed 15.50 times while retail investors subscribed 1.47 times. Since the firm is concerned with railways financing, most of the brokerages and analysts have ‘subscribe’ rating to the issue. Also, IRFC IPO is attractively priced at 1x the FY20 book value per share.

The Honourable Finance Minister will be presenting the Union Budget next month, and the real estate sector has its list ready to boost demand and bring growth back on track. On top of the list, measures like continuing with the current low interest and easy liquidity regime. A low-interest rate is a direct stimulus for investment in real estate. We would like the budget to deliver on measures to boost demand for the industry like enhance the limit of deduction under section 80C of income tax for principal repayment on home loans, a separate exemption for principal repayment on home loans to incentivise investment in real estate.:Krish Raveshia, CEO at Azlo Realty

Indigo Paints’ Rs 1,170.16-crore initial public offer will open for subscription on Wednesday in the price band of Rs 1,488-1,490 apiece. One day before the IPO opening, Indigo Paints shares were trading with a 54.36 per cent premium over the IPO price in the grey market today. The shares of the fifth-largest company in the decorative paint industry were trading at Rs 2,300, up Rs 810 from the issue price. 

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Mukesh Ambani’s Reliance Industries Ltd (RIL) share price has zoomed nearly 5% since yesterday. This jump comes after the stock underperformed and sat out the rally where Sensex and Nifty soared to fresh highs repeatedly since October. RIL stock is down 17% since the middle of September. This dip in the stock price, after months of rallying, could serve as an attractive entry point for investors, according to global brokerage and research firm Goldman Sachs. The brokerage firm has reiterated ‘Buy’ call on Reliance Industries shares, expecting multiple catalysts for the stock price up ahead.

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Domestically, sentiments were boosted on reports by rating agency ICRA stating that the economic activity improved broadly in December signaling a tentative return to pre-Covid levels. So far the country has received inflows of approx. $1.83bn but rupee has not much reacted to that and remained above 73.00 levels. As the global economic outlook remains highly uncertain and with consistent inflows on side while RBI’s activeness to cap gains on the other side will drive the rupee momentum next. Overall, the pair to remain in its comfortable range of 73.00-74.00 levels, therefore one can buy on dips near 73.00-73.20 and sell on upticks above 73.40 levels in the near term.: Amit Pabari, managing director, CR Forex Advisors

IRFC IPO subscribed 76 per cent so far on day two of the bidding process. Employee category was subscribed 15.50 times while retail investors subscribed 1.47 times

The major positive development for markets today is the Treasury Secretary-elect Janet Yellen’s comment on the need for ‘big stimulus’. Further big stimulus along with the huge liquidity created by the unprecedented monetary stimulus can keep markets buoyant; but there is a risk of bubble valuations with its vulnerability to sharp corrections, even crashes. Meanwhile, midcaps have turned weak and strong large-caps like HDFC bank  & RIL have become strong. High delivery based buying in these stocks indicate their improving prospects.: V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

Home First Finance Company India Initial public offer (IPO) is set to open for subscription on January 21 with a price band at Rs 517-518 apiece of the face value of Rs 2 each. Mumbai based housing finance company’s issue will close on January 25, 2021. The Rs 1,153.72-crore issue comprises a fresh issue of Rs 265 crore and offer-for-sale (OFS) of Rs 888.72 crore by promoters and existing shareholders.

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Although we have opened with a gap up, I would be wary of going long immediately. The Nifty has a resistance around the 14550-14600 levels. If we can conquer that, we should be headed to 14900. Until then there is every possibility to go down to levels closer to 14100 and then 14000: Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments

2020 was the year of the healthcare and pharmaceutical sector when it came to stock market investment. Global Brokerage and research firm Credit Suisse, in a recent report, highlighted that the price-performance of healthcare subsectors such as clinical laboratories, managed care, medical devices, and contract research organizations outperformed the S&P 500 index. The brokerage firm said that it selectively views further upside potential for stocks that have demonstrated ability to enhance market positioning throughout the pandemic with strategic innovation and capacity investments. With this, Credit Suisse has upgraded Thermo Fisher to an ‘outperform’ rating.

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COMEX gold trades modestly higher near $1840/oz after a 0.3% decline last week. Gold inched up as the US dollar index eased a bit after recent gains. Also supporting price is rising virus cases, increased US-China tensions, mixed economic data from major economies and prospect of higher US stimulus. However, weighing on price is progress on vaccine front and weaker investor interest. Gold may witness choppy trade as market players assess policy implication under the new Biden administration however the bias may be on the upside amid hopes of continuing stimulus measures.: Ravindra Rao, VP- Head Commodity Research at Kotak Securities

All Nifty sectoral indices were trading with gains in Tuesday’s upbeat session. Nifty Media and Nifty Realty indices were top sectoral indices, up over 2 per cent.

Except for HDFC Bank, all BSE Sensex constituents were trading in the green led by Bajaj Finance and IndusInd Bank shares. State Bank of India and Maruti Suzuki were among other gainers

BSE Sensex jumped 450 points to reclaim 49,000-mark, while the broader Nifty 50 index crossed 14,400 on Tuesday.

Check live Sensex, Nifty levels

BSE Sensex extended gains in pre-open, jumped over 300 points to reclaim the crucial 49,000-mark.

Check live Sensex, Nifty levels

Bajaj Finserv share price zooms 9.45 per cent to Rs 9,144 apiece in pre-open on BSE today.

Check live prices: Bajaj Finserv

BSE Sensex jumped over 100 points to 48,672.20, while the broader Nifty 50 index crossed 14,300 in the pre-opening session on Tuesday.

Check live Sensex, Nifty levels

YES Bank: The private bank informed in a BSE filing that Yes Bank board will meet on Friday, January 22, 2021, to consider raising of funds by issue of equity shares, depository receipts, convertible bonds, debentures and other various means.Maruti Suzuki: The car-maker on Monday said that the company is increasing the price for select models owing to increase in various input costs.Read full story

Market would be volatile given the ongoing earning season and the weak global cues. Run-up to the Budget expectations would also add to the volatility. The valuations too are stretched as the Nifty is trading at 22x one-year forward P/E compared to its Long term average of 19x. We would advise investors to take the opportunity to accumulate quality stocks on dips. Traders on the other hand should book profits intermittently and be stock selective: Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services Ltd

For the January series, maximum Call Open Interest (OI) is still placed at 15,000 strike with 24.93 lakh contracts. This is followed by 19.98 lakh contracts at 14,500 strike. However, massive Call writing was seen at 14,500 and 14,400 and Call unwinding was at levels higher than 15,000. Put OI is the most at 14,000 strike with 31.32 lakh contracts, followed by 13,000 strike with 24.28 lakh contracts

The sharp back to back declines (Friday and Monday) seems to have changed the sentiment of the market. A move below 14125 could confirm the reversal pattern and that is likely to trigger more weakness in the short term. Any attempt of upside bounce towards 14400-14450 could run into resistance in the short term. Confirmation of reversal could open immediate downside target of 13700 for the coming weeks.: Nagaraj Shetti, Technical Research  Analyst, HDFC Securities

After falling for two consecutive trading sessions, domestic equity markets may look to reverse the trend on Tuesday. S&P BSE Sensex currently sits at 48,564 points while the 50-stock NSE Nifty was at 14,281. On Tuesday morning, SGX Nifty was up 89 points, hinting at a positive start for the day’s trade on Dalal Street. Although Wall Street was closed on Monday for trading, cues from Asian peers were mixed. Shanghai Composite was down 0.25% but Hang Seng was up more than 1%. Nikkei 225 and TOPIX too were up with gains, followed by KOSPI and KOSDAQ.

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On Monday, foreign institutional investors (FIIs) lapped up shares worth Rs 650.6 crore, whereas domestic institutional investors (DIIs) offloaded shares worth Rs 42.51 crore on a net basis in the Indian equity market, according to the provisional data available on the NSE.

Asian stock markets were trading mixed in early trade with South Korea’s Kospi rising 1.62 per cent. Japan’s Nikkei 225 jumped 1.41 per cent while the Topix index gained 0.63 per cent. 

Equities declined on Monday for the second straight session, with the Sensex declining 470.4 points (0.96%) to close at 48,564.27. The 50-share Nifty declined by 152.4 points (1.06%) to close at 14,281.3. The broader markets led the decline with the Nifty Midcap 100 falling as much as 2.12%.

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