Sensex slips 81 pts ahead of FY21 advance GDP estimate; midcaps outperform

Stock market updates: Indian equity markets erased gains and ended in the red for the second day in a row ahead of the announcement of advance estimate of gross domestic product (GDP) for financial year of 2020-21 (FY21).

At close, the S&P BSE Sensex was quoting at 48,093 levels, down 81 points or 0.17 per cent, amid sell off in information technology and FMCG stocks. Bharti Airtel (up 3.6 per cent) was the top gainer on the Sensex, followed by IndusInd Bank, Axis Bank, L&T, and HDFC. On the other hand, Hindustan Unilever, Titan, Nestle, Infosys, and ITC ended between 1.5 per cent and 2 per cent lower.

The broader Nifty50, on the other hand, closed 9 points, or 0.06 per cent, lower at 14,137 levels. Out of the total 50 constituents, 27 advances on the Nifty while 23 ended the day in the red. The Nifty50 index hit a new peak of 14,256.25 in the morning deals.

Overall, market breadth remained in the favour of the bulls with nearly two stocks rising against a stock that declined. 

On the sectoral front, investors rotated funds out of defensives and bet on cyclicals as the Nifty IT, FMCG, and Pharma closed Thursday's trade in the red. The Nifty Realty index (up 1.35 per cent) and the Private Bank and PSB indices (up 1 per cent each) were the top performing indices.

The broader markets continued to outrun their large-cap peers. The S&P BSE MidCap, which topped the 19,000-mark for the first time and hit a record peak of 19,035, ended the day at 18,947 levels, up 1 per cent. The S&P BSE SmallCap index added 0.85 per cent at close to settle at 18,773.

Global markets

Global stocks rose on Thursday, reversing losses incurred on Wednesday. Europe's Euro STOXX 600 gained 0.3 per cent, with indices in Frankfurt and Paris up 0.4 per cent and 0.6 per cent, respectively. 

The MSCI world equity index, which tracks shares in almost 50 countries, rose 0.3 per cent.

Earlier, MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.6 per cent and Japan's Nikkei hit its highest since 1990.


MARKET CLOSING COMMENT :: Deepak Jasani, Head of Research, HDFC Securities

Indian equity benchmark indices closed with mild losses on January 7 for the second consecutive session. Nifty opened gap up in line with other Asian markets but gradually eroded through the day to end marginally in the negative. In the process it was one of the worst performing indices in the Asian region. At close, Nifty closed 9 points, or 0.1 percent, down at 14,137.35.
Volumes on the NSE were higher than recent average. Among sectors, Metals, Realty and PSU Bank gained the most, while FMCG, IT and Pharma fell the most. Broad market indices like smallcap and midcap indices gained and outperformed the Nifty.

Nifty ran into selling pressure at higher levels and ended in the negative. Markets may be witnessing some distribution at higher levels as is evident from large volumes in the past two days. However as long as the 13985 level on the Nifty is not breached, this remains a buy-on-dips market.

MARKET CLOSING COMMENT :: Keshav Lahoti, associate equity analyst at Angel Broking

Today, Indian shares opened on a bullish note tracking positive global cues offering support on bets that Democratic sweep in Georgia would lead to more fiscal stimulus in the United States. Although, the market corrected in the later half to close flat for the day. Buying interest was higher in midcap stocks and smallcap stocks, Nifty Midcap 100 and Nifty Smallcap 100 closed up by 1.4% each. On the sectoral indices front, the trend was mixed. Global cues were supportive: Dow Futures and  Nasdaq Futures were up by 0.4% and 0.5% respectively, whereas FTSE was down by 0.3%. We are cautiously positive on the market. Now, market focus will shift to quarterly results to be reported by the companies

MARKET CLOSING COMMENT :: Ajit Mishra, VP - Research, Religare Broking

Markets traded range bound and settled almost unchanged. After the gap up opening, profit booking in the index majors pushed the benchmark lower as the session progressed. A mixed trend was witnessed on the sectoral front wherein IT and FMCG traded subdued while metal, realty and banking posted decent gains. Meanwhile, the broader indices outperformed and ended higher in the range of 0.9-1.1%. Amid all, the Nifty index finally closed at 14,137 levels.
We believe Q3 earnings and global cues would provide further direction to the markets. To start with, the IT major, TCS, Q3FY21 result would be on participants’ radar. Traders should maintain extra caution in the selection of stocks now and focus on overnight risk management

MARKET CLOSING COMMENT :: S Ranganathan, Head of Research at LKP Securities

After the Democrats won the Georgia Senate, Global Cues were positive in Morning Trade. Afternoon Trade however did see profit taking in FMCG stocks despite which we saw a close above 48K led by Financials & Metals. The broader markets witnessed demand for Housing Finance, Realty and Liquor stocks

TECH VIEW :: Rohit Singre, senior technical analyst at LKP Securities

Index opened a day with good gap but again failed to hold the gains for second consecutive day and showed a profit booking and managed to close a day on negative note at 14,137 with minimal loss. Index has formed a good base near 14,100-14,000 zone holding above said level one can hold longs but any break below 14k mark can result in more profit booking and we may see dip towards 13,800 zone, strong hurdle for nifty is formed near 14,250 zone fresh upside only possible above 14,250 zone

TECH VIEW :: Ashis Biswas, Head of Technical Research, CapitalVia Global Research

The Market witnessed some lackluster movement. Nifty is still trading below its immediate resistance zone of 14,250-14,270. A significant breakout above the levels of 14,270 could result in improvement of market breadth and the market can rally till the levels of 14,680. The nearest support for Nifty would be 14,000.

MARKET CLOSING COMMENT :: Vinod Nair, Head of Research at Geojit Financial Services

Although the markets witnessed a range bound rally during the day, profit booking was seen towards the end of the session. Outperformance was seen in small and mid-cap stocks today. Realty stocks experienced upward momentum after Maharashtra cut levies on real estate projects by 50% while a downward trend was seen in IT and FMCG stocks owing to profit booking. The global markets were largely positive on potential democratic control of the US Senate and increasing prospects for further economic US stimulus measures. Healthy business figures reported by banking and auto companies have led to a better quarterly outlook and are expected to keep the sector in focus in the coming days

SECTOR OF THE DAY :: Realty stocks stole the show with up to 13% gains today

>> Shares of real estate companies were in focus, surging by up to 13 per cent, on the NSE on Thursday after the Maharashtra government on Wednesday slashed premiums and levies charged on construction by 50 per cent till December 31 2021. The move is expected to give a boost to the real estate sector in the state.

BUZZING STOCKS OF THE DAY :: Bharti Airtel topped the Rs 3-trillion m-cap mark in the intra-day session today

>> As shares of Bharti Airtel rallied 5.5 per cent to Rs 554 on the BSE in intra-day trade on Thursday on the back of heavy volumes, the firm regained its market capitalisation of Rs 3 trillion. The stock was trading at its highest level since September 2, 2020.

>> The stock settled the day 3.7 per cent higher with a m-cap of Rs 2.97 trillion.

MARKET INSIGHTS :: Benchmarks end in the red but market breadth remains in favour of the bulls

S&P BSE MidCap settle near record high

Sectoral trends :: Defensives take a back seat; Nifty FMCG, IT, Pharma indices end in the red

Sensex Heatmap :: Bharti Airtel settles 4% higher; HUL, Nestle slip 2%


>> At close, the S&P BSE Sensex was quoting at 48,093 levels, down 81 points or 0.17 per cent, amid sell off in information technology and FMCG stocks.
>> The broader Nifty50, on the other hand, closed 9 points, or 0.06 per cent, lower at 14,137 levels. 

NEWS ALERT :: Lupin receives tentative nod from US FDA for Empagliflozin & Metformin Hydrochloride ER tablets

>> Empagliflozin & Metformin Hydrochloride tablets are indicated as an adjunct to diet and exercise, to improve glycemic control in adults with type 2 diabetes

ISPL repays debt amounting to nearly Rs 845 cr after EEPL clears dues

IL&FS Solar Power Limited (ISPL) has paid its entire debt amounting to nearly Rs 845 crore to its creditors - including financial and operational debt, thereby helping the IL&FS Group move ahead with the resolution process. This follows pre-payment by Embassy Energy Private Limited (EEPL) for the financial assistance provided by ISPL. READ MORE


Metals extend rally on strong demand; Tata Steel zooms 97% in 3 months

Shares of metal companies extended their rally into Thursday, with the Nifty Metal index surging 4 per cent to hit a fresh 52-week high of 3,564 on the National Stock Exchange (NSE) on strong demand outlook. In comparison, the Nifty50 index hit a fresh record high of 14,256 today. The index was up 0.28 per cent, at 02:15 pm. Tata Steel, Hindustan Copper, Jindal Steel and Power (JSPL) and Hindalco Industries from the Nifty Metal index were up between 5 per cent and 9 per cent. NMDC, Hindustan Zinc, Steel Authority of India (SAIL), JSW Steel and National Aluminium Company gained in the range of 2 per cent to 3 per cent on the NSE. READ MORE


  • Futures on the S&P 500 Index gain 0.4%
  • Stoxx Europe 600 Index increases 0.2%
  • MSCI Asia Pacific Index climbs 1%
  • MSCI Emerging Market Index rises 0.4%

SBI raises $600 mn from overseas bond sale at 1.80% coupon

The nation's largest lender State Bank of India (SBI) on Thursday raised USD 600 million from selling bonds to international investors at a coupon of 1.80 per cent. The issue, oversubscribed by 2.1 times, is part of the bank's USD 10 billion medium term note programme, the ratings of which were withdrawn by the rating agency Moody's on Wednesday. (Text Source: PTI)

Steel stocks hit fresh high on price hike, improvement in production

Stocks of all major steel producers hit a new one-year high with Tata Steel leading the pack. The stock gained 6.1 per cent intraday and touched a new 52-week high of Rs 725.70 on the Bombay Stock Exchange (BSE). The Jindal Steel & Power (JSPL) scrip touched Rs 300.90, JSW Steel Rs 412.95 and Steel Authority of India Ltd (SAIL) Rs 80.35. READ MORE

Saudi's surprise output cut to lift Brent to $60/barrel by mid-year: UBS

UBS raised its forecast for Brent oil prices to $60 per barrel by mid-year, following Saudi Arabia's surprise unilateral production cut and expectations of a sharp recovery in demand in the second quarter on vaccine rollouts and increased travel.
With Saudi Arabia's move, OPEC's production increase of 0.5 million barrels per day (bpd) for January is reversed in full, which will result in a tighter oil market in the first half of the year, analysts at the Swiss bank wrote in a note. READ MORE

NEWS ALERT :: Congress has affirmed President-elect Joe Biden's victory, reports CNN

>> Donald Trump finally pledges an "orderly" transfer of power to Biden, while repeating false claims about the election that led to a mob storming the Capitol.

NEWS ALERT :: Tata Power bags a 110 MW solar project

>> Order given by Kerala State Electricity Board

>> Project cost: Rs 488 crore

>> Time period: 18 Months after signing of Power Purchase Agreement

M-cap of top 7 global tech stocks surged 61% last year, shows data

Tesla’s share price has risen 729 per cent in the past year, while share prices of Apple and Amazon have gained 76 per cent and 71 per cent during this period. The year has been good for India’s tech bellwethers as well. TCS, Infosys, HCL Technolgies, and Wipro have seen their combined market cap rise by 53 per cent or by Rs 7.6 trillion (about $105 billion). Their shares have risen 41-73 per cent. READ MORE

BUZZING STOCK:: Bharat Forge surges 9%

NEWS ALERT :: Govt has allowed passenger aircraft to transport vaccines, reports ANI

Bharti Airtel regains Rs 3 trillion market-cap as stock surges over 5%

As shares of Bharti Airtel rallied 5.5 per cent to Rs 554 on the BSE in intra-day trade on Thursday on the back of heavy volumes, the firm regained its market capitalisation of Rs 3 trillion. The stock was trading at its highest level since September 2, 2020. At 01:14 am, Bharti Airtel's market capitalisation stood at Rs 3.01 trillion, the BSE data showed. The trading volumes on the counter more-than-doubled as a combined nearly 30 million equity shares changed hands on the NSE and BSE till the time of writing of this report. The stock hit a record high of Rs 611.70 on May 20, 2020, which was also its 52-week high. READ MORE

Q3 Biz Update :: Witnessed normalization in demand in domestic and international mkts, says S H Kelkar

>> As informed in the earlier business update dated December 9, 2020, the global Fragrance and Flavours (F&F) industry has been witnessing notable increases in key raw material prices. In order to mitigate the near-term uncertainties in raw material prices, the Company proactively built-up its inventories to ensure continued supplies across all its customers. However, the Company believes that the surge in raw material prices is transitory in nature and the situation should normalize in the near to medium-term.

Stocks that hit 52-week high on BSE today

ADANI ENTERP. 519.70 521.80 5.81
ADANI PORTS 518.00 519.35 4.29
ADANI TRANSMISSI 455.65 464.00 0.52
AJANTA PHARMA 1772.15 1786.90 4.00
AMARA RAJA BATT. 985.15 996.80 0.61
» More on 52 Week High

IDFC shares rally 16% in intraday trade, near 52-week high

- Sipadan Investments offloaded 1.83 per cent stake in the firm between December 17 and January 5 via open market transaction. Sipadan had earlier sold 2.17 per cent stake in the firm between November 23 and December 16. 

Festive sales and pent-up demand push Titan closer to growth in Q3

Riding on the back of festive sales and pent up demand, jewellery-to-watches maker Titan, which had seen a washout of sales in the first quarter of FY21 because of lockdown disruptions, has moved much closer to growth.
While the jewellery division has crossed the recovery phase to growth phase, watches and eyewear divisions have also moved much closer to the full recovery. READ MORE

TCS Q3 preview: Cloud adoption, large deal wins may lift profit by 8% YoY

Information technology (IT) major Tata Consultancy Services (TCS) will kick off the December quarter earnings season for large-cap firms on Friday, January 8, when it will announce its quarterly numbers. The Tata Group company is likely to post a robust performance for the third quarter of the financial year 2021 (Q3FY21) on the back of strong demand in cloud adoption, tailwinds of large digital deals, project ramp-up and lower furloughs, believe analysts. READ MORE

BUZZING STOCK :: Airtel rises 5% amid jump in volumes, top gainer on Sensex

TCS buyback offer: Tata Sons tenders shares worth Rs 10,000 crore

Tata Sons tendered shares worth Rs 9,997 crore of Tata Consultancy Services (TCS) during the IT major’s Rs 16,000 crore-buyback offer that concluded recently.
The single largest shareholder of TCS, Tata Sons tendered more than 33.3 million shares during the offer, according to a regulatory filing. READ MORE

DLF, Oberoi Realty: Strategy for realty stks as Maharashtra halves premiums

Shares of real estate companies were in focus at the bourses on Thursday, surging up to 7 per cent on the BSE after the Maharashtra government slashed premiums and levies charged on construction by 50 per cent till December 31 2021. The cut, under the Development Control and Promotion Regulation 2034, will apply to both ongoing and new projects. Municipalities charge this premium on floor space index (FSI). The move is expected to give a boost to the real estate sector in the state. READ MORE

IDFC First Bank rallies 11% in two days on strong retail loan growth in Q3

While overall funded assets of the bank increased 0.7 per cent year on year (YoY) to Rs 1.10 trillion in Q3FY21, retail assets grew 24 per cent YoY (11 per cent quarter on quarter(QoQ)) to Rs 66,635 crore. Retail Funded Assets, including the PSL Buyouts, thus constitute 64 per cent of overall Funded Assets, IDFC First Bank said in Q3 update. READ MORE

Dec Quarter Result :: GM Breweries post PAT of Rs 21.1 cr, up 51% YoY

>> Revenue slips to Rs 112.1 crore, down from Rs 119.7 cr YoY

>> EBITDA margin at 24.7%, up from 16.6% YoY

>> EBITDA rises to Rs 27.7 crore from Rs 19.9 cr YoY

L&T nears 52-week high; stock surges 51% in 3 months on strong order flow

The stock of construction & engineering major was trading close to its 52-week high of Rs 1,384, touched on February 1, 2020. In the past three months, L&T has outperformed the market by surging 51 per cent, as against a 21-per cent rise in the S&P BSE Sensex. READ MORE

Different chart types used in technical analysis and how to read them

Traders use various kinds of charts for technical analysis. In this, however, we will cover the most significant ones that give deeper insights. These are basic charts, but without the in-depth knowledge of the basic techniques and structures, further expertise in chart-reading is unlikely. READ MORE

Foreign portfolio investors accounted for 55% of IPO mop-up in 2020

Foreign portfolio investors (FPIs) contributed more than domestic institutional investors (DIIs) as anchor investors in initial public offerings of 2020. FPIs’ share of investments for the year stood at Rs 4,206 crore, 55 per cent of total Rs 7,720 crore mopped up last year, the data from PRIME Database showed. READ MORE

Info Edge stock flies on hopes of economic revival, Zomato's upcoming IPO

A recovery in Info Edge’s core business and potential value unlocking for shareholders with the upcoming IPO of online food delivery startup Zomato have triggered a sharp rally in the company's shares. Info Edge is one of the key players in India’s online classifieds industry due ton its well-established classifieds and related services offerings in recruitment, real estate and matrimonial segments. It also has investments in at least 23 startups including a 22 per cent stake in India’s largest online food delivery platform Zomato. READ MORE

Top gainers on BSE at this hour

I D F C 42.70 11.63
BHARAT FORGE 587.15 7.11
SKF INDIA 1884.00 6.99
» More on Top Gainers

Stock Idea by Geojit Financial: HDFC Bank

HDFC Bank is temporarily restricted from undertaking digital business generation activities and securing new credit card customers, until it addresses IT infrastructure issues that have resulted in outages. However impact should be minimal on its current ongoing operations. On 4th December, RBI kept the rates unchanged for the coming quarter. It also announced strengthening of internal redressal framework for banks for a more efficient complaint resolution of customer complaints. Bank’s fundamentals and asset quality remains strong. We change rating to Hold from BUY with a revised TP of Rs. 1,529 based on 3.8x FY22E BVPS.

Cement shares extend gain on strong outlook; JK Cement surges 9%

Shares of cement manufacturer were trading higher for the second straight day, rallying up to 9 per cent on the BSE on Thursday amid expectation of strong earnings during the October-December quarter (Q3FY21). Among individual stocks, JK Cement rallied 9 per cent to Rs 2,382, also its 52-week high on the BSE. UltraTech Cement hit a new high of Rs 5,512 after rising 1 per cent today. The stock has gained 3 per cent in the past two trading days. Birla Corporation, JK Lakshmi Cement, Ramco Cements, and India Cements were up between 4 per cent and 8 per cent on the BSE. READ MORE

Barring Mphasis, Naukri, all constituents of Nifty IT in the red

IPO street: From Zomato to InMobi, 2021 could be the year of start-ups

Plans of companies such as Zomato, Policybazaar, Grofers and InMobi to launch an initial public offering (IPO) in 2021 could kick off a transition of successful start-ups from private to public capital. The country has realised the potential of start-ups that have disrupted traditional businesses (or ways of doing business) and have garnered large market share, across segments. READ MORE

MARKET UPDATE:: Sensex off day's high

Dixon Tech gains 5% on pact with boAt for new twin wireless speakers

Dixon Technologies (India) shares traded 5 per cent higher at Rs 15,214, also their fresh record high, on the BSE on Thursday after the company announced that it has entered into an agreement with Imagine Marketing Private Limited (boAt) for manufacturing of Twin Wireless Speakers. READ MORE

BROKERAGE VIEW :: ICICI Securities on Building Material Sector

>> Volume recovery for major branded building material categories may sustain (in fact accelerate QoQ) into Q3FY21 driven by a) impressive growth traction in secondary real estate market, b) pent-up demand seen in renovation / refurbishment segment and c) market share gains (in categories like plumbing pipes and tiles in particular). We, thus, foresee categories like plumbing pipes, MDF, adhesives and construction chemicals, tiles and plywood to recover beyond pre-Covid levels in Q3FY21, while laminate and sanitaryware categories may recover fully with a quarter lag.

>> With expected increase in input cost (driven by higher crude prices), we expect categories like wood panel, tiles and adhesives to witness some correction in their gross margins on a sequential basis. EBITDA margins, however, may remain firm driven by operating leverage and sustained cost rationalisation. We estimate our BM coverage universe to report aggregate revenue / EBITDA / PBT increase of 12.7% / 24.9% / 30.6% YoY, respectively (ex- PIDI: 12.2% / 27.7% / 45.9% YoY) in Q3FY21.

BROKERAGE VIEW :: ICICI Securities on Real Estate sector

>> The Government of Maharashtra’s Urban Development Department in a notification dated 6th January, 2021 has approved a 50% discount/concession on all the various premiums levied by the government on construction projects till 31st December 2021. This also includes concessions in the premiums levied by all planning authorities/local administrations in Maharashtra. A rider is that developers availing the discount need to bear the stamp duty costs of 5-6% of agreement value on behalf of buyers.

>> While we await the fine print on the exact nature and terms of the FSI/premium waivers, key beneficiaries of the waiver will be developers who have adequate liquidity and have the confidence to launch and sell new projects, especially in the Mumbai city and suburbs.

>> Developers in our coverage universe with significant Mumbai exposure including Oberoi Realty, Godrej Properties, Phoenix Mills, Prestige Estates and Sunteck Realty stand to benefit.

BROKERAGE VIEW :: Q3 earnings expectations from pharma and healthcare sector

>> We expect pharma and healthcare companies under our coverage to report moderate growth during the quarter ended Dec'20. We expect easing of lockdown to support some recovery in acute portfolio and injectable products. US revenues may witness marginal growth sequentially led by improvement in volumes of injectables, specialty portfolio and new launches. We estimate India business to grow in high single digit as seen in secondary sales data.

>> We forecast the EBITDA margin of covered companies at ~22% (+130bps YoY) led by revenue growth and cost control measures. Hospitals and diagnostic centres can report significant recovery QoQ with rise in occupancy levels and pathology test volumes. Overall, we expect our coverage universe to report ~8% revenue growth.

(Source: ICICI Securities)

BROKERAGE VIEW :: ICICI Securities on Sobha

CMP: Rs 411 | TP: Rs 505 | Reco: Buy

>> Sobha’s Q3FY21 gross sales volumes of 1.13msf worth Rs8.9bn were up 6% YoY in volume terms and 22% YoY in value terms. A strong QoQ uptick in Bengaluru and continued momentum in Kochi/Gurugram markets has enabled Sobha to cross pre-COVID sales bookings inspite of minimal launches. The company maintains its guidance of achieving a YoY growth in H2FY21 sales bookings on the back of new launches and monetisation of existing inventory.

>> We have raised our FY21/22E volume estimates by 25% to 3.9/4.7msf respectively (earlier 3.2/3.8msf) to reflect the improved performance. We retain our BUY rating with a revised SOTP based target price of Rs505/share (earlier Rs382) as we roll forward to Mar-22 NAV and build in higher sales volumes over FY21-23E. Ability to keep debt levels in check remains the key monitorable.

Rupee Opening

Rupee opens at 73.11 per US dollar vs Wednesday's close of 73.10/$

Realty shares rally as Maha govt slashes premium for construction by 50%

Shares of real estate companies were in focus, surging by up to 7 per cent, on the BSE in the early morning trade on Thursday after the Maharashtra government on Wednesday slashed premiums and levies charged on construction by 50 per cent till December 31 2021. The move is expected to give a boost to the real estate sector in the state. READ MORE

S&P BSE MidCap index hits fresh lifetime high

GIC Housing Finance sees sharp upswing

NEWS ALERT :: JSW Steel crude steel production is up 2% at 4.08 mt Vs 4.02 mt (YoY)

CEAT rises 1.6% on rating affirmation

>> CARE Ratings has reaffirmed its AA/Stable rating to the long-term bank facilities worth Rs 800 crore and A1+ rating to the short-term bank facilities worth Rs 1,150 crore. The rating agency has also reaffirmed A1+ rating to the company’s Commercial Paper worth Rs 350 crore.

Wendt slides over 5% on report promoters to sell stake

>> Promoters of Wendt to sell up to 4.74 per cent stake in the company via offer for sale on January 7-8. The floor price is set at Rs 2,200 per share.

Dixon Technologies rallies 4% on partnership with boAt

>> The company has entered into an agreement with boAt for manufacturing of Twin wireless speakers. Dixon will be manufacturing the said products from its manufacturing facility located at Noida, Uttar Pradesh.

Vodafone Idea up 1% on nod to 4G auction

>> The government said it will auction wireless spectrum in seven bands on 1 March, offering 2,251.25 megahertz worth Rs 3.92 trillion.

PVR snaps winning streak

>> The Centre has asked the Tamil Nadu government to revoke its order allowing 100 per cent seating in cinemas from the current 50 per cent capacity.

PNC Infratech gains over 3% as Goldman Sachs, SBI MF pick stake

>> CN Infrabuild on Wednesday sold shares of PNC Infratech worth over Rs 276 crore through an open market transaction. On the BSE, the entity sold 1.57 crore shares of PNC Infratech at an average price of Rs 175 apiece. The total deal value stood at Rs 276.39 crore.

Sobha advances nearly 6% post Q3 biz update

>> The company said good demand across all product categories aids better sales numbers in Q3FY21 as compared to the previous year. Total sales value up 22.2 per cent to Rs 887.6 crore from Rs 726.1 crore.

Bandhan Bank rises 3% in early deals

>> The private lender said its loans and advances grew by 23 per cent year-on-year to Rs 80,255 crore during the third quarter of the current fiscal.

Sectoral trends on NSE :: Realty sector outperforms

Sensex Heatmap :: Across-the-board buying lifts index

Opening Bell

Opening Bell :: Indices hit fresh record highs

Commodity Heatmap

Top gainers and losers on S&P BSE Sensex at Pre-open

Markets at Pre-open

Markets at Pre-open

US Fed says bond-buying changes hinge on 'qualitative' call on economy

The Federal Reserve was nearly unanimous in its decision last month to leave its bond-buying program unchanged, but left a wide berth for officials to decide in the future if and when changes should be made, according to minutes of the U.S. central bank's December policy meeting. READ MORE

Trading strategies for Gold and Aluminum by Bhavik Patel of Tradebulls Sec

In 2020, gold prices were up by about 27 per cent while silver gained around 50 per cent. The Georgia runoffs will present the next key risk for gold and risk trades in general. Weakness in the US dollar continues to push gold prices higher. Low interest rate is also making gold an attractive bet and in 2021 we might see inflation coming up so that is also another positive factor for gold. Gold hit seven week high on Monday. The importance of today's gains has to do more with follow-through buying after a stellar performance yesterday, rather than traders moving in to quickly take profits. READ MORE

Stocks to watch: Bandhan Bank, Sobha, Lupin, Maruti Suzuki, CEAT

Bandhan Bank: The private lender said its loans and advances grew by 23 per cent year-on-year to Rs 80,255 crore during the third quarter of the current fiscal.
Sobha Limited: The company said good demand across all product categories aids better sales numbers in Q3FY21 as compared to the previous year. Total sales value up 22.2 per cent to Rs 887.6 crore from Rs 726.1 crore. READ MORE

'Nifty needs to hold 14,100 to remain in uptrend'

Market traded with volatility but managed to recover from intra-day lows of 14,040.10 on Wednesday after the Nifty50 index witnessed sharp correction early on. Nifty closed at 14,146.30, slashing 53.20 points. However, market breadth seems to be in favor of the bulls. Metal, realty & financial services stocks traded with positive sentiments whereas IT, FMCG and pharmaceutical stocks closed with red mark. Nifty bank closed at 31,797.90 adding 75.60 points from the previous day's closing. READ MORE

Bulk deals on the BSE as on Wednesday

Bulk deals on the NSE as on Wednesday

FIIs, DIIs turn net sellers on Wednesday

Rupee check

Source: Bloomberg

Oil steady after US Capitol drama; tighter supplies in focus

>> Oil prices were steady on Thursday after supporters of President Donald Trump stormed the US Capitol, with investors focusing on the likelihood of tighter supplies after Saudi Arabia unilaterally agreed to cut output.
>> Brent crude was up 8 cents at $54.38 a barrel, after gaining 1.3% overnight. U.S. West Texas Intermediate (WTI) gained 11 cents to $50.74, having slipped earlier in the Asian session. The contract rose 1.4% on Wednesday.

(Source: Reuters)

SGX Nifty Update

>> At 8:25 am, the index was at 14,266 levels, up 86 points

Wall Street on Wednesday :: Dow, S&P 500 close higher, but pro-Trump protests weigh on gains

>> The Dow and the S&P 500 ended higher, soaring to all-time highs on Wednesday, as investors piled into financial and industrial stocks on bets a Democratic sweep in Georgia would lead to more fiscal stimulus and infrastructure spending.

>> The Dow Jones Industrial Average closed 437.8 points higher, or 1.44%, to 30,829.4, the S&P 500 gained 21.28 points, or 0.57%, to 3,748.14 and the Nasdaq Composite dropped 78.17 points, or 0.61%, to 12,740.79. 

(Source: Reuters)

Asian stocks higher as Washington chaos fails to dislodge recovery bets

>> Asian stocks perked up on Thursday as investors remained confident that violence in Washington would not disrupt a legitimate transition to a new presidency or derail political support for a US economic recovery.

>> S&P 500 futures up 0.3%, Japan’s Nikkei 225 rising 1.24% and the S&P/ASX 200 1.25% higher.

(Source: Reuters)

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