Some of the weddings and festive buying that had been postponed because of the pandemic will come back in 2021, and this pent-up demand will boost sales, P.R. Somasundaram, managing director for India at the London-based council.
The Dow Jones Industrial Average fell 185.7 points, or 0.60%, at the open to 30,806.51. The S&P 500 fell 13.8 points, or 0.35%, at the open to 3,782.31, while the Nasdaq Composite gained 11.7 points, or 0.08%, to 13,124.36 at the opening bell.
In a stock exchange filing, the company said its board has approved the buyback of 6.97 crore shares at a price of Rs 150 per share. The shares being bought represent 1.55 per cent of the total number of fully paid-up equity shares.
Market's near-term moves dependent on Budget expectations, Q3 nos & foreign flows: Vinod Nair, Geojit Fin Services
The market opened flat with a negative bias and weak start of European market led to further bleeding with all sectors in the red zone. The $1.9 trillion ‘American Rescue Plan’ failed to uplift the sentiment of the western market. Investors can resort to profit booking as the near future trend of the market will depend on budget expectations, stock wise Q3 result and foreign inflows, said Vinod Nair, Head of Research, Geojit Financial Services
Markets began circumspect amidst weak job data in the US even as Joe Biden unveiled details of the $1.9 trillion rescue package. Friday's afternoon trade saw profit taking in IT stocks despite the biggies putting out positive commentary with large deal wins as MCAP to GDP crossed 100% leading to volatility
- S Ranganathan, Head of Research, LKP Securities
Markets This Week
Nifty advances 3rd week in a row despite posting worst day since Dec 21
Nifty Bank advances 3rd week in a row despite posting worst day since Dec 21
Nifty Smallcap and Midcap snap 2-week gaining streak; underperform for the first time in 3 weeks
India VIX posts best week since Sept 6
Nifty PSU Bank gains over 5% for the week; best sectoral performer
Nifty Metal declines for the first time in 3 weeks; worst sectoral performer
Nifty Pharma declines for first time in 8 weeks
This is how the 30-pack Sensex moved in today's session. It touched a high of 49,656.71 and a low of 48,795.79 to finally settle at 49,034.67
CLOSING BELL: Sensex tanks 549 pts on selling across the board; Nifty slips below 14,450; TechM, HCL Tech drop up to 4%
Infosys, financials and RIL lead the market fall
26 of 30 Sensex stocks end the day in the red
Index contributors: Infosys, HDFC, ICICI Bank, RIL, HCL Tech
Top Index gainers: Bharti Airtel (3.97%), ITC (1.68%), Bajaj Auto (0.16%)
Top Index losers: Tech Mahindra (3.92%), HCL Tech (3.73%), ONGC (3.19%)
All BSE sectoral indices except telecom end the day in the red
S&P BSE Telecom biggest sectoral gainer, up 3.68%
S&P BSE OIL & GAS biggest sectoral loser, down 2.43%
Bharti Airtel, L&T and DLF are the three stocks that offer value on the largecap side with an absolute return perspective over the next one year, says Sandip Sabharwal, analyst, asksandipsabharwal.com.
S&P BSE Telecom biggest sectoral gainer, up 3.5%. Here are the top performers
Price as on 15 Jan, 2021 02:58 PM, Click on company names for their live prices.
Indigo Paints is the fastest growing paint company among its top five peers in India. Having a market presence across 27 states and 7 union territories, it is the fifth largest company in the Indian decorative paint industry by revenue from operations for FY20.
Here are the top scrips contributing to Sensex's fall
Forex Center: This is how the major currencies are faring against each other
PVR Q3 results: Reports consolidated loss of Rs 49.1 vs profit of Rs 36.3 cr YoY
Cos EBITDA loss at 78.6 cr vs Rs 307.1 cr EBITDA
Cons rev from ops at 45.3 cr vs 915.7 cr YoY
Here are the top losers in the tourism and hospitality space
Price as on 15 Jan, 2021 02:21 PM, Click on company names for their live prices.
S&P BSE OIL & GAS biggest sectoral loser, down 2.5%.
This is how the 30-pack Sensex stocks are faring right now
Nifty IT sheds the most among sectoral indices
Price as on 15 Jan, 2021 01:37 PM, Click on company names for their live prices.
Embassy REIT Announces Raises Rs 2,600 crore NCD
Embassy Office Parks REIT, India’s first listed REIT and the largest office REIT in Asia by area, has successfully priced and allotted by way of a private placement, Rs 2,600 crore or $351 million non-convertible debentures (NCDs) at a 6.40% quarterly coupon.
Vedanta open offer to open on March 4; price @160/share
Price as on 15 Jan, 2021 12:34 PM, Click on company names for their live prices.
India VIX rises nearly 4% to inch close to 24-level
SAIL shares jump on strong OFS response
Shares of SAIL NSE climbed 5 per cent in an otherwise weak session on Friday after the steelmaker's offer for sale (OFS) received strong response from non-retail investors. The OFS was subscribed 4.14 times on the first day of the issue.
Jullundur Motor Agency announces buyback of 74 lakh shares @36/share
Price as on 15 Jan, 2021 11:30 AM, Click on company names for their live prices.
The Indian Rupee appreciated against the US currency on expectations of large U.S stimulus under new president. Treasury yields come up on hope of new stimulus package. Benchmark 10-year Treasury notes last fell 12/32 in price to yield 1.1292%, from 1.088%, Technically, the USDINR Spot open gap down and traded negative throughout the day. It is sustaining below 73.20 levels indicating a negative momentum may continue in the today’s session. Support is at 72.95 – 72.80 levels for the spot pair. Resistance for the pair is 73.20. USDINR Jan future will trade in the range of 73.05–73.25 levels.
- Kshitij Purohit, Product Manager, Currency & Commodities at CapitalVia Global Research
Rupee slips 3 paise to 73.07 against US dollar in early trade
The rupee opened on a flat note and depreciated 3 paise to 73.07 against the US dollar in opening trade on Friday tracking the muted opening in domestic equities. At the interbank forex market, the domestic unit opened at 73.07 against the US dollar, registering a fall of 3 paise over its previous close. On Thursday, the rupee had settled at 73.04 against the American currency.
Strides receives USFDA approval for HIV drugs
Price as on 15 Jan, 2021 10:07 AM, Click on company names for their live prices.
Price as on 15 Jan, 2021 09:49 AM, Click on company names for their live prices.
Trident gets new patent from Europe
Trident said it has been granted patent for “Fabric and Method of Manufacturing Fabric by European Patent office. The present invention comprises a method of producing a fabric by subjecting the fabric to a special treatment, thereby obtaining increased air space in the resultant fabric. This will help the company to deliver its special soft towels without usage of any chemical based fibers enabling it to save environment and at the same time to deliver its soft luxury towels in European Market, it added.
Oil prices were mixed on Friday as strong import data from China, the world's biggest crude importer, that boosted sentiment earlier ran into concerns about Chinese cities in lockdown due to coronavirus outbreaks. Brent was down 3 cents at $56.69, after gaining 0.6 per cent on Thursday. US WTI crude was up 12 cents at $53.69 a barrel, having risen more than 1 per cent the previous session.
FIIs buy Rs 1,077 cr worth of stocks
Net-net, foreign portfolio investors (FPIs) were buyers of domestic stocks to the tune of Rs 1,076.62 crore, data available with NSE suggested. DIIs were net sellers to the tune of Rs 188.10 crore, data suggests.
SAIL OFS subscribed 4.14x, retail bids today
The offer for sale (OFS) of Steel Authority of India (SAIL) has been oversubscribed by 4.14 times on the first day of the issue. The government has decided to exercise the green shoe option and retail investors will be able to bid on Friday. On Thursday, the issue was open for non-retail investors.
HCL Tech, PVR to disclose Q3 results
HCL Tech, PVR, Shoppers Stop, L&T Finance Holdings, Hathway Cable and Aditya Birla Money are some of the companies which will disclose their December quarter earnings during the day.
SGX Nifty signals negative start
Nifty futures on the Singapore Exchange traded 40 points, or 0.27 per cent, lower at 14,583, in signs that Dalal Street was headed for a negative start on Friday.
Tech View: Nifty forms Inside Bar candle
Nifty50 on Thursday negated the formation of higher highs in the past 15 sessions and formed an Inside Bar on the daily chart. While the index has been holding up well of late, analysts said one must closely look at the advance-decline ratio and believe Nifty needs to respect the support at 14,435 level to keep the ongoing positive momentum going.
Asian markets rise on hopes of US stimulus
Asian shares rose on Friday, brushing off a late Wall Street dip as expectations of large US stimulus under President-elect Joe Biden shored up sentiment while oil prices perked up on upbeat Chinese trade figures. In Asia, investors held a broadly more optimistic with Australia's S&P/ASX 200 up 0.2 per cent, Japan's Nikkei 225 0.3 per cent higher and South Korea's Kospi inching up 0.2 per cent.
Tech stocks drag US indices lower
A late slide in several Big Tech stocks left major US indices lower Thursday, even as small-company stocks marched to another record high. On Thursday, the S&P500 index fell 14.30 points, or 0.4 per cent, to 3,795.54. The Dow Jones Industrial Average slid 68.95 points, or 0.2 per cent, to 30,991.52. The Nasdaq composite dropped 16.31 points, or 0.1 per cent, to 13,112.64.
Rupee logs 3rd straight gains, up 11 paise against dollar
The rupee gained for the third straight day and closed 11 paise higher at 73.04 against the US dollar on Thursday, supported by sustained foreign fund inflows and weak American currency. At the interbank forex market, the rupee opened at 73.18 and hit an intra-day high of 72.97 and a low of 73.18. It finally finished at 73.04, higher by 11 paise over its last close.
Sensex, Nifty on Thursday
Recovering from a shaky start, the 30-share BSE Sensex gained momentum during the day to end at its new lifetime high of 49,584.16, up 91.84 points or 0.19 per cent. Similarly, the broader NSE Nifty rose 30.75 points or 0.21 per cent to finish at a record 14,595.60.
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