BSE in Mumbai. (Express photo by Ganesh Shirsekar)Share/Stock Highlights: The topline equity indices on BSE and National Stock Exchange (NSE) fell for the fourth consecutive day, declining over 0.7 per cent on Friday triggered by a fall in metals, pharmaceuticals, public sector banks and information technology (IT) stocks amid weakness in the global market.
The S&P BSE Sensex fell 427.44 points (0.72 per cent) to end at 59,037.18 while the broader Nifty 50 crashed 139.85 points (0.79 per cent) to settle at 17,617.15. Both the indices had opened over a per cent lower earlier in the day and had fallen around 1.5 per cent in the intraday trade.
On the Sensex pack, Bajaj Finserv was the top loser of the day falling over 5 per cent. It was followed by Tech Mahindra, Tata Steel, Bharti Airtel, IndusInd Bank and Larsen & Toubro (L&T). On the other hand, Hindustan Unilver (HUL), Maruti Suzuki India, Housing Development Finance Corporation (HDFC), Nestle India, HDFC Bank and Tata Consultancy Services (TCS) were among the top gainers.
Going ahead, market participants will look forward to the outcome of the December quarter results of oil-to-telecom behemoth Reliance Industries (RIL) which will be announced later in the day.
(with inputs from agencies)
"Indices witnessed a 4% cut this week as FPI booked profits across large-caps and select high quality mid-caps. Rising oil and input prices coupled with a moderating rural economy kept investors watchful as markets turned volatile. Most of the Sectoral Indices except the FMCG index ended in the red on a big earnings day today of Reliance which helped indices recoup losses for the day in late afternoon trade"
The S&P BSE Sensex ended at 59,037.18, down 427.44 points or 0.72 per cent, while the Nifty 50 settled at 17,617.15, down 139.85 points or 0.79 per cent.
Notwithstanding the muted broader market trend, shares of Biocon Ltd surged over 2 per cent in morning trade on Friday after the biotechnology major reported strong December quarter earnings.
On the BSE, the stock opened at Rs 363.00, then jumped 2.61 per cent and touched an early high of Rs 373.40 in initial deals. It was later trading at Rs 371.25, up 2.02 per cent. In a similar trend, the stock opened at Rs 364, then touched a high of Rs 371.55, registering a gain of 2.02 per cent over its last close on the NSE.
(PTI)
Shares of Hindustan Unilever Ltd defied the muted broader market trend and surged over 2 per cent in morning trade on Friday after the FMCG major reported strong December quarter earnings.
On the BSE, the stock opened at Rs 2,282.00, then jumped 2.42 per cent and touched an early high of Rs 2,316.40 in initial deals. It was later trading at Rs 2,306.10, up 1.97 per cent. On the NSE, the stock opened at Rs 2,264.80, then touched a high of Rs 2,308.70, registering a gain of 2.07 per cent over its last close.
(PTI)
Shares of Shoppers Stop surged over 17 per cent in the morning trade on Friday after the company posted strong earnings for the quarter ended December 2021.
On the BSE, the stock jumped 17.58 per cent and touched its 52-week high of Rs 425, on the NSE, it registered a gain of 17.56 per cent over its last close.
Motilal Oswal Asset Management Company has announced the launch of its Momentum FACTOR-based ETF and Index Fund - Motilal Oswal Nifty200 Momentum 30 ETF (Exchange Traded Fund) and Motilal Oswal Nifty200 Momentum 30 Index Fund. These are open-ended schemes replicating or tracking the performance of Nifty200 Momentum 30 Index.
The NFO will open on January 21, 2022 and closes on February 4, 2022.
The Rs 3,600 crore initial public offering (IPO) of edible oil manufacturer Adani Wilmar will open on Thursday, January 27, 2022, and will be available for subscription till Monday, January 31, 2022. The price band of the IPO has been fixed at Rs 218-230 per share of the face value of Re 1 each.
Adani Wilmar sells various cooking oils and other edible products such as wheat flour, soya products, basmati rice etc. under the Fortune brand, has cut its IPO size to Rs 3,600 crore from Rs 4,500 crore planned earlier. It is a 50:50 joint venture company between Gautam Adani-led Adani group and Singapore’s Wilmar group. Click here to read
A relaxation in stressed asset valuation norms, streamlining of NPA provisions, reduction in the tenure of tax-saving fixed deposits, and removal of GST on additional interest charged in case of defaults — these are among the banking sector’s proposals to the government ahead of the Budget.
Sources said banks have pushed for a relaxation in the valuation norms for stressed assets in order to comply with the Reserve Bank of India’s strict mandate to dispose off assets in a time-bound manner. The proposals, moved by the Indian Banks’ Association (IBA), includes a reduction in the tenure of tax-saving fixed deposits from five years to three years. Click here to read
Despite moderation in market growth and significant levels of commodity inflation, Hindustan Unilever Ltd (HUL) on Thursday reported a 16.76 per cent jump in net profit at Rs 2,243 crore for the quarter ended December 31, 2021 as against Rs 1,921 crore in the year-ago period.
The company’s total income grew 10.23 percent to Rs 13,183 crore for the December quarter as against Rs 11,959 crore a year ago. Growth in the quarter was competitive and profitable with domestic consumer growth of 11 per cent. Click here to read
The Indian rupee was trading in a narrow range in morning trade on Friday as muted domestic equities and sustained foreign fund outflows negated the impact of easing crude oil prices.
At the interbank foreign exchange, the rupee opened at 74.50 against the American dollar, then inched higher to 74.48. The local unit also touched an early low of 74.53 against US dollar in the opening session. On Thursday, the rupee had slipped 7 paise to close at 74.51 against the US dollar.
(PTI)
The Reserve Bank of India has approved the appointment of former Comptroller and Auditor General (CAG) Vinod Rai as chairman of Unity Small Finance Bank.
Rai, after his retirement as the CAG, headed the Banks Board Bureau, the body that advises the government on top-level appointments at public sector lenders and ways to address bad loans, as its chairman, Unity Small Finance Bank said in a statement. Click here to read
"The texture of global stock markets is changing. Starting from April 2020 till October 2021 Wall Street has been a one-way street. Dalal Street too followed almost the same trend. Now there are indications that this trend is changing. US markets are down for the fifth consecutive day with tech-heavy Nasdaq leading the fall. The tremors of this fall are being felt in the tech sector in India too with IT under performing hugely.
FIIs who had become buyers in early January have again turned sellers with a massive sell figure of Rs 4680 cr yesterday. This is a major headwind for the market in the short run.
As expected, 2022 has begun with heightened volatility and this is likely to continue. Since valuations continue to be high and FIIs are likely to sell more on rallies, retail investors should not rush in to buy aggressively. Calibrated buying in quality IT and financials can be considered on declines"
Oil prices are at their highest levels since 2014 — Brent crude hit $88.3 per barrel on Thursday, up 27% since December 1, when it was trading at $69.5.
Brent has spiked 8 per cent over the past week, rocking stock markets that were otherwise relatively steady in spite of the third wave of Covid-19 across the country. Click here to read
Asian share markets and U.S. futures fell on Friday, after U.S. stocks took a knock overnight, hurt by lingering concerns over the Federal Reserve's tightening and weaker-than-expected economic and earnings data.
MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.8%, and Japan's Nikkei slid 1.66%. Oil prices fell sharply and were on track for their first weekly loss this year.
The Nasdaq dropped late in the U.S. session, to close 1.3% lower, as investors anxiously await the Fed's policy meeting next week for details on how it intends to tackle inflation.
(Reuters)
The S&P BSE Sensex slumped 690.51 points to 58,774.11 in opening deals while Nifty 50 declined 194.10 points to 17,562.90.
(PTI)
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