Markets at Lunch (01:30 PM)
LIVE market updates: The key benchmark indices were exhibiting high amount of volatility albiet with a negative bias given the nervouss undertone. IT and financial shares were the major laggards, while select heavyweights like Tata Steel, Reliance and Bajaj twins moved higher.
Among the Sensex 30 shares, PowerGrid Corporation was the major loser, down 2.2 per cent. Mahindra & Mahindra, Kotak Bank, Larsen & Toubro, TCS, SBI, UltraTech Cement, HDFC Bank and NTPC were the other prominent losers.
Wheras, Bajaj Finance moved 1.6 per cent higher. Tata Steel, Titan, Bajaj Finserv, Asian Paints and Reliance Industries held marginal gains.
The broader markets had logged steeper losses in trades so far. The BSE Midcap index was down 0.9 per cent, and the Smallcap index had shed 1.5 per cent. The overall market breadth too was fairly negative, with 2.4 declining stocks versus every advancing share on the BSE.
In the broader markets, Texmaco Rail tumbled nearly 13 per cent. Orient Abrasives, Transformers and Rectifiers (India), Archies, Nitin Spinners, Talbros Automotive, Selan Exploration, Magadh Sugar, Sansera Engineering, Nucleus Software, Ashapura Minechem, Uttam Sugar Mills, Jindal Drilling, Minda Industries, Dalmia Sugars, Eveready, Morepen Labs, Tata Power, Kirloskar Brothers, MAS Financial Services, Sharda Corpchem, Balaji Amines, VRL Logistics, Jain Irrigation, Deepak Fertilisers, Reliance Power, Dhampur Sugar Mills and Raymond were the other major losers.
On the positive side, Keynote Financial Services and Adani Wilmar were locked at the respective 20 per cent upper limits. Ausom Enterprise, Poddar Housing, Advani Hotels, TCPL Packaging, Goa Carbon, Ugar Sugar, Shanti Gears, Bombay Rayon Fashions, Neuland Labs, Vindhya Telelinks, SIS, GNFC, Rajesh Exports, Pfizer and Responsive Industries were some of the top gainers.
Markets at 12 noon
LIVE market updates: The headline indices were off day’s lows in noon trades but continued to be under selling pressures for the fourth straight session amid uneven global cues. The BSE Sensex was down 68 points at 57,544, while the NSE Nifty50 was lower by 25 points at 17,189 levels.
Of the 30-Sensex shares, 13 were in the green led by gains in Bajaj Twins, Titan, Asian Paints, Wipro, Maruti, RIL and Tata Steel, trading up between 0.6-2 per cent. On the Nifty, Divis Labs, Cipla and Britannia were the additonal gainers.
In the broader markets, the BSE MidCap and SmallCap indices continued to underperform, trading 0.5 and 1.2 per cent lower, respectively. From midcaps, Tata Power, Sona BLW Precision, Bhel, Gujarat Gas, Adani Power, PFC, GlaxoSmithKline, Union Bank of India and Bank of India were the top losers, down 2-6 per cent.
Sectorally, the Nifty Pharma and Healthcare indices were the sole gainers, higher up to 0.2 per cent. Realty, Metals, IT, and Banks continued to reel under pressure and were trading up to 1 per cent lower.
Among individual stocks, shares of Biocon hit an over six-month high of Rs 410.50, up 3 per cent on the BSE in Tuesday’s intra-day trade after its subsidiary Biocon Pharma received approval of its ANDA for Posaconazole Delayed-Release tablets from the US Food & Drug Administration (USFDA). READ MORE HERE.
In the US, stock index futures were muted in early morning trading as investors await key inflation data later this week. Futures contracts tied to the Dow Jones Industrial Average were flat. S&P 500 futures shed 0.04 per cent, while Nasdaq 100 futures were down 0.02 per cent.
In Asia, shares were largely mixed on Tuesday. The Shenzhen component in mainland China plunged 1.16 per cent, while the Shanghai composite was up 0.5 per cent. Hong Kong’s Hang Seng index also fell 0.96 per cent. Elsewhere, Japan’s Nikkei 225 gained 0.13 per cent, while the Topix index climbed 0.4 per cent. South Korea’s Kospi advanced 0.08 per cent.
Markets at 11 AM
LIVE market updates:
The key benchmark indices extended losses in morning deals in a volatile session. The BSE Sensex was now 523 points down at 57,079, while the NSE Nifty was at 17,051, lower by 162 points. The two benchmarks were down up to 0.9 per cent.
Private banking majors HDFC Bank and ICICI Bank were the top contibutors to the indice downmove. They were followed by IT majors–Infosys and TCS. Other counters that were also weighing on the benchmarks included L&T, HDFC, Kotak bank and SBI.
This apart, the broader markets were significantly underperforming the benchmarks. The BSE MidCap index was down 1.2 per cent while the SmallCap index trading over 2 per cent lower.
Sectorally, all Nifty indices were in the red zone led by Nifty Realty, PSU banks, Private banks, Financials, IT and Metal.
In the primary market, the IPO of Vedant Fashions had been subscribed only 22 per cent so far on the last day, with the retail investor category receiving a subscription of 33 per cent.
Among stocks, shares of TVS Motor Company (TVCL) surged 8 per cent to Rs 685 on the BSE in Tuesday’s intra-day trade after the company registered highest-ever operating earnings before interest tax and depreciation and amortization (Ebitda) of Rs 568 crore during December quarter (Q3FY22). READ MORE.
On the other hand, GlaxoSmithKline Pharmaceuticals was down 2 per cent on the BSE after company reported a 3.9 per cent YoY decline in consolidated net profit at Rs 150.35 crore in the third quarter ended December 31, 2021. Total income was up 2.5 per cent YoY at Rs 826.24 crore.
Markets at 10 AM
LIVE market updates: Frontline indices were oscillating between gains and losses in early deals as mixed cues from global markets kept investment sentiment in check.
The S&P BSE Sensex was at 57,637 level, up 16 points or 0.03 per cent, at 10:02 AM. The NSE Nifty, on the other hand, was testing 17,200. It was down 2 points.
Bajaj Finserv, up over 2 per cent, was the top Sensex gainer, followed by Bajaj Finance, Bharti Airtel, Asian Paints, Wipro, and Dr Reddy’s Labs.
On the downside, Power Grid, SBI, NTPC, TCS, and Infosys slipped up to 1.4 per cent and capped upside.
The broader markets were, however, underperforming and were down up to 0.5 per cent.
Sectorally, the Nifty Pharma index was the top gainer, up 0.6 per cent. The Nifty PSB index was worst hit, down over 1 per cent.
Rupee opened higher at 74.61 per US dollar vs Friday’s close of 74.70/$.
LIVE market updates: The benchmark indices opened on a fairly positive note on Tuesday after a day of huge sell-off. The BSE Sensex was 201 points higher at 57,822, while the NSE Nifty was at 17,288, up by 74 points.
In the broader market, the BSE MidCap and SmallCap indices were also in green and were up to 0.49 per cent higher.
The top Sensex gainers were Maruti, Titan, Tata Steel, Dr Reddy’s, Bajaj Finserv, Reliance, Wipro, Sun Pharma and Bharti Airtel, trading up to 2 per cent higher. Hindalco, Eicher Motors, JSW Steel and Cipla were the additonal gainers on the Nifty.
On the flip side, PowerGrid, SBI, NTPC, HDFC, L&T, IndusInd Bank, TCS, Nestle, Infosys, Tata Consumer, and Britannia were the top losers.
Sectorally, the Nifty Auto, Metal and Pharma indices were the top gainers, trading up to 0.7 per cent higher. On the downside, Nifty PSU Bank and Nifty Bank indices were the losers.
Among stocks, PolicyBazaar parent PB Fintech was trading 2.6 per cent lower after the company posted yoy revenue growth of 73 per cent to Rs 367 crore in the quarter ended December 2021. Investors, however, seem unimpressed with its performace.
On the flip side, TVS Motor was up 3 per cent on the BSE after the two-wheeler maker posted a 9 per cent YoY rise in net profit for Q3FY22 at Rs 288 crore when compared with Rs 266 crore in the corresponding quarter of FY21. The company also reported a highest-ever operating revenue of Rs 5,706 crore in the third quarter of FY22.
LIVE market updates: The key benchmark indices are expected to open on a quiet note on Tuesday as per trends indicated by the SGX Nifty futures, which were quoting 17,238 levels, around 20 points up from Nifty’s spot close.
Investors may choose to be in wait and watch mode ahead of the RBI MPC meet that is slated to begin today.
Among individual shares, Bata India, Bharti Airtel, Escorts, Gujarat Gas, Indraprastha Gas, IRCTC, Jindal Steel, Godrej Consumer products and TTML are likely to be on investor radar ahead of their Q3 earnings. READ MORE.
In the primary market, the IPO of Vedant Fashions had been subscribed just 21 per cent on day 2. The offer ends for subscription today.
The US stocks ended with marginal losses on Monday amid mixed corporate earnings. The underlying tone remained nervous with analysts suggesting that the markets were pricing in a one-in-three chance of 50 bps rate hike in March itself.
Whereas, oil prices eased a wee bit as concerns over tight supply were offset by signs of progress in nuclear talks between the US and Iran. Brent crude was down 0.6 per cent at $92.69 a barrel, and WTI oil futures slipped 1.3 per cent to $91.32 a barrel.
Most of the major markets in Asia were up this morning. Kospi soared over a per cent. Nikkei, Straits Times and Taiwan too gained 0.7-0.9 per cent each.