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Thursday, January 27, 2022

Market Highlights: Sensex surges 533 points, Nifty settles above 18,200 to end near 3-month high

Share Market, Stock Market Highlights: The S&P BSE Sensex ended at 61,150.04, up 533.15 points (0.88 per cent), while the Nifty 50 settled at 18,212.35, up 156.60 points (0.87 per cent).

By: Express Web Desk | New Delhi |
Updated: January 12, 2022 4:00:06 pm
stock market, sensex live, sensex share pricePeople stand outside the Bombay Stock Exchange (BSE), after Sensex surpassed the 60,000 level for the first time, in Mumbai, India, September 24, 2021. (REUTERS/File Photo)

Share/Stock Highlights: The benchmark equity indices on the BSE and National Stock Exchange (NSE) continued their bull run for the fourth consecutive day and settled nearly 1 per cent higher on Wednesday led by gains in heavyweights Reliance Industries (RIL), ICICI Bank and Infosys amid positive cues in the global market.

The S&P BSE Sensex rose 533.15 points (0.88 per cent) to end at 61,150.04 while the Nifty 50 climbed 156.60 points (0.87 per cent) to settle at 18,212.35. The Nifty ended above the 18,200 level mark for the first time since October 27, 2021.

On the Sensex pack, Mahindra & Mahindra (M&M) was the top gainer of the day rising over 4.5 per cent, followed by Bharti Airtel, IndusInd Bank, RIL, ICICI Bank and Tata Steel. On the other hand, Titan Company, Tata Consultancy Services (TCS), HDFC Bank, Tech Mahindra, Wipro and Nestle India were among the laggards.

Going ahead, the market participants will look forward to the Q3 results of TCS, Infosys and Wipro scheduled later today and also the retail inflation (CPI) and industrial output (IIP) data which are set to be released this evening.

(with inputs from agencies)

Live Blog

Stocks, BSE Sensex, NSE Nifty, Crude oil prices, gold, silver prices, commodity market and money markets LIVE updates:

15:48 (IST)12 Jan 2022
MARKET QUOTE | Vinod Nair, Head of Research at Geojit Financial Services

"Led by realty, auto, energy and banking stocks, benchmark indices continued its winning streak for the 4th consecutive day despite fast spread of covid cases. Globally, sentiments were positive ahead of the release of US inflation data as the Fed Chair’s testimony eased inflationary worries. Realty stocks continued its upward rally on healthy business updates resulting in improved outlook. The initial result updates of major IT firms will determine the momentum of the week ahead"

15:35 (IST)12 Jan 2022
Equity markets at close

The S&P BSE Sensex ended at 61,150.04, up 533.15 points or 0.88 per cent, while the Nifty 50 settled at 18,212.35, up 156.60 points or 0.87 per cent.

15:27 (IST)12 Jan 2022
Gold futures gain on spot demand

Gold prices on Wednesday rose Rs 43 to Rs 47,732 per 10 grams in the futures trade as speculators created fresh positions amid a firm spot demand.

On the Multi Commodity Exchange, gold contracts for the February delivery traded higher by Rs 43, or 0.09 per cent, to Rs 47,732 per 10 grams in a business turnover of 6,630 lots.

Participants created fresh positions, leading to a rise in gold futures, analysts said.

Globally, gold prices traded 0.16 per cent lower at USD 1,815.60 per ounce in New York.


15:02 (IST)12 Jan 2022
MARKET QUOTE | Rohit Poddar, Managing Director at Poddar Housing and Development

"In the year 2022, the real estate market's deal street is projected to be strong even further. The various initiatives by the state & central government are keeping the residential asset class in favour. This has revived the residential sector leading to an uptrend at many levels. Despite the fact that the markets were trembling the realty index held up well in the midweek trading.  The realty index is likely to maintain its rising momentum even further."

14:56 (IST)12 Jan 2022
MARKET QUOTE | Ram Raheja, Director at S Raheja Realty

"Real estate, especially the residential sector has witnessed a upward growth trajectory since 2020. As a safe-haven asset, realty came under focus as an investment of choice. With low home loan rates, stamp duty cuts, premium cuts, it is lucrative to be associated with the sector as both sellers and buyers. The outlook for the sector continues to remains positive basis recent research reports. The strong fundamentals and expectation of further rise in demand are instrumental for the month-high and upside in the BSE Realty Index."

14:55 (IST)12 Jan 2022
MARKET QUOTE | Dhaval Ajmera, Director of Ajmera Realty on BSE Realty crossing 4,000-mark

"Both residential and commercial asset classes have scripted a turnaround story in the second half of the year 2021. The guidance on the performance of the real estate assets for the year 2022 is expected to mark an uptrend. Most cities in India have witnessed better equilibrium dynamics in demand-supply economics of real estate with sales numbers being in-line with the number of home unit launches. The year 2022 is expected to set a new benchmark where all the stakeholders of the real estate industry will collaborate to harness latent demand for homes. Institutional investors are actively looking at investment opportunities across the capital stack on both the equity and debt side. It's encouraging to see that premium rebate in Maharashtra resulted in receiving a record sum of over Rs 11,000 crore. The deal street of the Indian real estate is expected to be active both on value and volume aspects. With macro fundamentals in check for the realty estate industry will keep the index on the upward trend in the medium to long term."

12:57 (IST)12 Jan 2022
Govt doesn’t want to run Co; existing promoters fully committed to managing operations: VI CEO Ravinder Takkar

A day after Vodafone Idea Ltd opted to convert interest on dues to government equity, its CEO on Wednesday said the government had made its position amply clear that it does not want to run the telco, and added that existing promoters are fully committed to managing and running the company’s operations.

Vodafone Idea (VIL) on Tuesday announced its decision to opt for converting about Rs 16,000 crore interest dues liability payable to the government into equity, which will amount to around 35.8 per cent stake in the company. Click here to read

11:21 (IST)12 Jan 2022
DLF shares jump over 4%

Shares of realty major DLF Ltd on Wednesday jumped over 4 per cent after the company sold properties worth Rs 1,500 crore in its newly launched housing project at Moti Nagar in the national capital.

The stock gained 4.26 per cent to Rs 426.70 on the BSE. On the NSE, it jumped 4.39 per cent to Rs 426.80.

Realty major DLF Ltd on Tuesday said it has sold properties worth Rs 1,500 crore in its newly launched housing project at Moti Nagar in the national capital, reflecting strong demand for luxury apartments.


11:17 (IST)12 Jan 2022
Rupee gains 16 paise to 73.78 against US dollar in early trade

The rupee appreciated by 16 paise to 73.78 against the US dollar in opening trade on Wednesday, supported by the weakening of the American currency in the overseas market and positive domestic equities.

Forex traders said the less hawkish-than-expected statement from Federal Reserve Chairman Jerome Powell calmed fears of aggressive Fed policy tightening and supported emerging market currencies.

At the interbank foreign exchange, the rupee opened at 73.78 against the American dollar, registering a rise of 16 paise from the last close. The local unit also touched 73.90 in early deals. In the previous session, the rupee had settled at 73.94 against the greenback.


10:55 (IST)12 Jan 2022
Indian inflation likely accelerated to a six-month high in December: Report

Higher telecommunications charges, along with a comparatively low base one year ago, likely drove Indian retail inflation to a six-month high in December, a Reuters poll found, keeping alive expectations for an interest rate rise by mid-year.

The Jan. 4-7 survey of 41 economists showed Indian retail inflation rose to 5.80% last month from 4.91% in November, spending more than two years above the Reserve Bank of India’s medium-term target of 4.0%.

If realised, it would be the highest since June 2021. Click here to read

09:48 (IST)12 Jan 2022
To run economy engine at full power, Budget to focus on infra, raise capex

A continued push on capital expenditure and roll out of infra projects under the National Infrastructure Pipeline (NIP) will be central to the Union Budget 2022-23 as the Central government looks to hold and build on the recovery in the economy.

Projects in roads and railways sectors and Nal se Jal scheme are expected to receive funding boost as the government targets to increase capex spending by around 30 per cent next year, government officials said. Click here to read

09:40 (IST)12 Jan 2022
Global market update

Stocks and commodities rose in relief and the dollar hit a six-week low on Wednesday, after Federal Reserve Chair Jerome Powell sounded less hawkish than expected in testimony to Congress, as he charts a path out of pandemic policy settings.

MSCI's broadest index of Asia-Pacific shares outside Japan rose 1% to a one-month high, led by a 3.5% jump for tech stocks in Hong Kong. Japan's Nikkei rose 1.9%.

Powell told a congressional hearing on his confirmation for a second term at the helm of the central bank that the economy could handle the COVID-19 surge and tighter monetary policy.

The Nasdaq and S&P 500 recorded their best sessions of 2022, rising 1.4% and 0.9%, respectively. S&P 500 futures were steady in early Asia trade.


09:38 (IST)12 Jan 2022
Equity market at open

Sensex climbs 397.48 points to 61,014.37 in opening trade; Nifty rises 96.50 points to 18,152.25.


Continuing its winning run for the third session in a row, the BSE benchmark Sensex added another 221 points to revisit the 60,500-level on Tuesday, helped by buying mainly in IT and financial shares.

After early hiccups, the 30-share benchmark remained poised throughout the session and went on to hit the day’s high of 60,689.25. It finally ended 221.26 points or 0.37 per cent higher at 60,616.89.

Likewise, the NSE Nifty gained 52.45 points or 0.29 per cent to end at 18,055.75.

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