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Sunday, January 23, 2022

Market Highlights: Indices end a tad lower; Sensex drops 91 points, Nifty holds 17,200

Share Market, Stock Market Highlights: The S&P BSE Sensex ended at 57,806.49, down 90.99 points (0.16 per cent), while the Nifty 50 settled at 17,213.60, down 19.65 points (0.11 per cent).

By: Express Web Desk | New Delhi |
Updated: December 29, 2021 4:18:16 pm
Bombay Stock Exchange building. (Express archive photo)

Share/Stock Highlights: The topline equity indices on the BSE and National Stock Exchange (NSE) ended marginally lower on Wednesday amid profit booking in HDFC Bank, SBI and ITC following a two-day rally.

The S&P BSE Sensex fell 90.99 points (0.16 per cent) to end at 57,806.49 while the Nifty 50 slipped 19.65 points (0.11 per cent) to settle at 17,213.60.

On the Sensex pack, State Bank of India (SBI) was the top loser, shedding over 1 per cent, followed by ITC, NTPC, Tech Mahindra, Tata Steel, Kotak Mahindra Bank and Mahindra & Mahindra (M&M). On the other hand, Sun Pharmaceutical Industries, IndusInd Bank, Dr. Reddy’s Laboratories and Bajaj Finserv were among the gainers.

(with inputs from agencies)

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16:03 (IST)29 Dec 2021
MARKET QUOTE | Vinod Nair, Head of Research at Geojit Financial Services on Wednesday's market performance

"Outweighing weak sentiments in most sectors, the pharma sector aided the domestic market to close on a flat note with a positive bias. Emergency Use Authorization of covid vaccines Corbevax and Covovax along with the clearance of anti-viral drug Molnupiravir for restricted use has boosted the appetite for most pharma stocks today. FIIs were net buyers for the first time this month which helped the market. Multiplex stocks have taken a hit following closure of cinema halls due to stricter covid restrictions in Delhi while mid & small caps outperformed"

15:34 (IST)29 Dec 2021
Equity markets at close

The S&P BSE Sensex ended at 57,806.49, down 90.99 points or 0.16 per cent, while the Nifty 50 settled at 17,213.60, down 19.65 points or 0.11 per cent.

12:49 (IST)29 Dec 2021
GST rules and other changes which come into effect from January 1

The Goods and Services Tax (GST) will witness some key changes heading into the new year 2022. The government had earlier notified the revisions which will come into effect from January 1, 2022.

Some of these changes include a higher GST rate for apparel, textiles and footwear and online restaurant aggregators such as Swiggy and Zomato will also be liable to pay GST on the services provided through them. Click here to read

11:38 (IST)29 Dec 2021
Write-offs in Covid year helped banks reduce bad loans: RBI

The banking sector managed to improve asset quality during the Covid year with the ratio of gross non-performing assets to advances declining from 8.2 per cent at March-end 2020 to 7.3 per cent at March-end 2021 — and further to 6.9 per cent at September-end 2021, according to a new report by Reserve Bank of India (RBI).

According to “Report on Trend and Progress of Banking in India 2020-21”, loan write-offs were the predominant recourse for lowering gross NPAs in 2020-21. This improvement was also driven by lower slippages, partly due to the asset classification standstill, it said. Click here to read

11:36 (IST)29 Dec 2021
I-T dept relaxes time till February for taxpayers to complete verification of FY20 ITRs

Taxpayers who have not e-verified their ITRs for 2019-20 fiscal can complete the verification process by February 28, 2022, as the Income Tax department has given a one-time relaxation to assessees.

As per law, an income tax return (ITR), filed electronically without a digital signature, has to be verified electronically through Aadhaar OTP, or net-banking, or code sent through demat account, pre-validated bank account and ATM within 120 days of filing the return. Click here to read

11:35 (IST)29 Dec 2021
Rupee trades in narrow range in early trade against US dollar

The Indian rupee was trading in a narrow range in morning trade on Wednesday as muted domestic equities and firm crude oil prices weighed on investor sentiments.

At the interbank foreign exchange, the rupee started on a tepid note at 74.69 against the dollar. It traded in a narrow band of of 74.68 to 74.76 in initial deals.

On Tuesday, the rupee registered its ninth straight session of gain and surged 30 paise to close at a one-month high of 74.70 against the US dollar.


10:09 (IST)29 Dec 2021
Stricter IPO norms: Cap on proceeds for future acquisitions, corporate use

The Securities and Exchange Board of India (Sebi) on Tuesday tightened the guidelines for usage of proceeds from the initial public offering (IPO) by companies.

The regulator, in a board meeting, has prescribed certain conditions for selling shares in an Offer-for-Sale (OFS) under IPO by significant shareholders and has extended anchor investors’ lock-in period to 90 days for half of the quota for such investors. Click here to read

09:54 (IST)29 Dec 2021
Global market update

Asian stocks slipped on Wednesday, following a mixed Wall Street session as the region's investors positioned their portfolios for the new year and continued to grapple with increasing global numbers of Omicron coronavirus cases.

MSCI's broadest index of Asia-Pacific shares outside Japan lost 0.25%, after six sessions of gains, following volatile U.S. trade. There were losses in Hong Kong, down 0.6% hurt by declines in mainland tech stocks while Chinese blue chips shed 0.25%. Japan's Nikkei slid 0.58% Wednesday after hitting a one-month high on Tuesday.

But in Australia, the ASX 200 was up 1% early in the session even though the country's most populous state New South Wales announced 11,201 new coronavirus cases.


09:52 (IST)29 Dec 2021
Equity market at open

Sensex rises 50.05 pts to 57,947.53 in opening session, Nifty inches 6.90 pts higher to 17,240.15.


The frontline equity indices on the BSE and National Stock Exchange (NSE) ended higher for the second consecutive day, rising nearly 1 per cent on Tuesday led by the automobile, information technology (IT), pharmaceutical and metal stocks amid a positive trend in global markets.

The S&P BSE Sensex surged 477.24 points (0.83 per cent) to end at 57,897.48 while the Nifty 50 rose 147.00 points (0.86 per cent) to settle at 17,233.25.

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