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Closing Bell
Indian stock market rebounded on Tuesday, after two sessions of sharp declines, as the day passed without any further escalation in West Asia tensions amid easing crude prices.
After hitting a high of 41,230.14, the 30-share BSE index retreated from there due to profit taking. The Sensex ended 192.84 points or 0.47 per cent higher at 40,869.47.
Similarly, the broader NSE Nifty touched an intraday high of 12,152.15 before settling at 12,052.95, up by 59.90 points or 0.50 per cent from yesterday's close.
Ultratech Cement was the top gainer in the Sensex pack, rallying up to 2.10 per cent, followed by HDFC Bank, IndusInd Bank, Relaince Industries, Sun Pharma, Tata Steel, Asian Paints, Kotak Bank and HDFC.
On the other hand, Infosys, ICICI Bank, Bharti Airtel, Nestle and HeroMotoCorp shares were ended in the red losing up to 1.50%.
Zuari Ago Chemicals shares were locked in 20 per cent upper circuit on bourses today. On the NSE, the stock was up by Rs 20.50 or 20 per cent to Rs 123.20. Around 8.95 lakh shares were seen traded in the counter on the exchange.
The stock price has moved ahead of its results announcement on February 5.
Rupee stronger
At 4 pm, t he rupee was seen trading stronger on Tuesday at 71.80. It touched an intraday high of 71.68 against the dollar.
On Monday, the rupee had settled at 71.93 against the US currency
Crude oil
Oil surrendered some hefty gains as many doubted Iran would strike back in a way that would disrupt supplies, and its own crude exports. Brent crude fell 44 cents to $68.47 a barrel by 0200 GMT while U.S. West Texas Intermediate (WTI) crude was at $62.86 a barrel, down 41 cents.
Foreign institutional investors sold equities worth Rs 103.84 crore, and domestic institutional investors offloaded shares worth Rs 23.70 crore on Monday, data available with stock exchanges showed.
Zuari Ago Chemicals shares lock 20% upper circuit
Zuari Ago Chemicals shares locked in 20 per cent upper circuit on bourses today. On the NSE, the stock was up 20 per cent at Rs 123.20. Volumes to the extent of 8.95 lakh shares were seen traded in the counter today.
ESAF bank files for Rs 976-crore IPO
Kerala-based ESAF Small Finance Bank on Monday filed draft red herring prospectus with SEBI for ₹976-crore IPO. According to the DRHP, the IPO comprises a fresh issue worth ₹800 crore and an offer-for-sale aggregating up to ₹176.2 crore.
Sensex, Nifty trade in the green in mid-session
The Sensex after touching an intraday high of 41,230.14 met with profit taking amist fresh selling from investors.
The BSE benchmark Sensex was quoted at 168.87 points at 40,845.50, while the Nifty being traded at 12,040.60, up by 47.55 points. The Nifty touched a high of 12,152.15 during intraday.
Notable gainers were UltraTech Cement, NTPC, Reliance Industries, HDFC Bank and Sun Pharma, gaining between 1 and 2.50%, while the top losers were Infosys, HeroMotoCorp, Bharti Airtel and Nestle falling between 0.60% and 1 per cent.
Gold eases from six-year high with focus on Tehran’s next move
Gold fell from the highest level in more than six years as some appetite for risk crept back into financial markets that had been rattled by the sharp escalation of tensions between the US and Iran.
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Why stock markets have overreacted to US-Iran tension
Do traders in stock market today remember the drone attack on Saudi Aramco’s oil facility in September 2019? It was the first such major strike, allegedly from Iran soil, against one of West Asia’s most powerful country. However, after an initial knee-jerk reaction, calm returned to global stock markets, and they even hit new record levels in the following weeks.
SENSEX STOCKS
Sensex stocks
Budget wish-list: Real estate sector for quick implementation of AIF regime
As the countdown to Union Budget 2020-21 begins, the real estate sector, which is battling slow or stagnant sales, is seeking quick implementation of the alternative investment funds (AIF) regime to rescue stressed residential projects.
Nifty 50 January Futures (12,120)
Following the positive cues from the Asian markets, the Indian benchmarks have recovered after witnessing huge decline yesterday. The Nifty spot and the Sensex spot index are up by nearly 0.7 per cent.
Why stock markets have overreacted to US-Iran tension
Do traders in stock market today remember the drone attack on Saudi Aramco’s oil facility in September 2019? It was the first such major strike, allegedly from Iran soil, against one of West Asia’s most powerful country.
Outlook for gold and base metals in 2020
Why you should add gold to your portfolio. Gold proves analysts wrong every year by surprise moves up or down. But in 2019 BusinessLine got its call on the metal right.
Higher diesel prices push up truck rentals in first week of January: IFTRT
ruck rentals on trunk routes – which are the main routes on which cargo moves across the country – increased by three-four per cent during January 1 to January 6, against the prevailing rates in December 2019, a freight rate tracking body has said. Freight rates in December were 2-2.5 per cent lower than those in November 2019.
NIFTY INDICES
Nifty Sectoral indices
BANK NIFTY CHART
Bank Nifty chart
What's holding the markets now
TOP GAINERS
Top gainers in Sensex
Top gainers in Sensex
Group of Ministers to meet today to discuss Air India disinvestment
A Group of Ministers (GoM) will meet today in New Delhi to discuss the disinvestment of Air India. The ministers are likely to decide the contours of the Expression of Interest (EoI) which is expected to be issued in mid-January.
Suzlon Energy shares up 9.76 per cent
On the back of a possible debt recast, Suzlon Energy shares were up 9.76 per cent in BSE. It was amongst the the top gainers, and is currently trading at Rs 3.60.
The Suzlon Energy Ltd. logo is displayed on a wind turbine at the Suzlon Energy Ltd. Nani Sindhodi wind farm in Kutch, India, on Saturday, March 29, 2014. Suzlon, the fifth-largest turbine maker, has won approval from shareholders to re-appoint founder Tulsi Tanti as managing director. Photographer: Dhiraj Singh/Bloomberg
Not a single default or delay in debt repayment, says ICICI Prudential chief
Notwithstanding the series of corporate debts, ICICI Mutual Fund has advised investors to consider debt mutual fund schemes as it feels the current crisis is an individual case and not systemic failure of the entire mutual fund industry.
ICICI Prudential Mutual Fund through this tie-up aims to increase its footprint, especially in smaller towns and cities.
ITI shares surge on strong Q3 earnings
ITI shares surged 14 per cent on the back of stellar performance in the third quarter on Tuesday. The company announced Q3 results on Monday.
According to the BSE release, on a sequential basis, ITI Ltd has reported net profit of Rs 168.25 crore for the third quarter ended December 2019
Initiate rupee longs with stop-loss at 72.1
The rupee (INR), on Monday, opened lower against the dollar (USD) and faced downward pressure initially. But after making a low of 72.11, the Indian currency started to gain and closed the session at 71.94, above the support at 72. Until rupee manages to hold on to that level, further depreciation is less likely.
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Rupee jumps 21 paise to 71.72 as crude oil prices ease
The Indian rupee appreciated by 21 paise to 71.72 against the US dollar in early deals as some easing in global crude oil prices boosted forex market sentiments.
Day Trading Guide for January 7, 2019
Given below are supports and resistances for Nifty 50 futures and seven key stocks that can help in your intra-day trading:
₹738 • Infosys
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NIFTY CHART
Nifty chart
Today's Trading call
Zee Entertainment
Traders with a short-term perspective can take a bearish call in Zee Entertainment Enterprises, as price has registered a fresh lower low on the daily chart.
Sensex stocks
Will Q3 result boost GM Breweries?
The board of GM Breweries will meet on Tuesday to consider Q3 results of FY19 for the period ended December 2019. The company had reported net profit of ₹16.27 crore and ₹19.85 crore on revenues of ₹430 crore and ₹424.65 crore respectively, for Q1 and Q2 of the current financial year.
Opening Bell
Sensex, Nifty rebound
Indian stock markets rebounded on Tuesday from yesterday'crash. The mood calmed a little as a day passed with no new aggression.
However, there was much confusion when the US military wrote to Iraq yesterday (on Monday) saying it would pull out of the country.
The 30-share index was quoted higher by 445.14 points, or 1.09 per cent, to 41,121.77.
Similarly, the broader NSE Nifty too was up 139.70 points, or 1.16 per cent, to 12,132.75.
Top gainers in early trading session were HDFC Bank, which was up 2.47%, SBI gained 2.35%, Bajaj Finance was up 2.15%, Tata Steel rose 2%, and Asian Paints gained 2%.
Asian shares bounce, oil slips as Iran anxiety ebbs
Asian shares rebounded on Tuesday as a day passed without any new escalation in the West Asia and Wall Street erased early losses to end in the black as tech stocks climbed.
Oil surrendered hefty gains as some speculated Iran would be unlikely to strike against the United States in a way that would disrupt supplies, and its own crude exports.
File Photo
Nifty 50 January Futures
The Indian benchmarks are facing a considerable selling pressure as tensions in the middle east escalates. All major indices across the globe are down as investors flee for safety. The January futures contract of the Nifty 50 index opened lower at 12,201 versus its previous close of 12,256
9.05 am
Sensex jumps 306 points at pre-open session
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