Sensex Today: Stock Market Live Updates: Sensex, Nifty trade lower; IT, bank stocks fall

JUST IN: TVS Motor Company announced a strategic partnership with Swiggy. As part of the MoU, TVS Motor and Swiggy will test the implementation of TVS Motor’s EV for food delivery and other on-demand services of Swiggy.

Price as on 13 Jan, 2022 12:02 PM, Click on company names for their live prices.

JUST IN: Ramkrishna Forgings wins export order worth Rs 575 million from North America for the supply of Spindle

Price as on 13 Jan, 2022 11:58 AM, Click on company names for their live prices.

JUST IN: RBI approves appointment of Ittira Davis as the Managing Director and CEO of Ujjivan SFB for a period of 1 year

Price as on 13 Jan, 2022 11:54 AM, Click on company names for their live prices.

Sandip Sabharwal on TCS buyback

Top gainers from the auto ancillary space

Price as on 13 Jan, 2022 11:05 AM, Click on company names for their live prices.

JUST IN: Equitas SFB deposits rise 13% YoY in Dec quarter

Source: Exchanges

Sensex reverses early gains, trades nearly 200 points down

Expiry Day (MOSL)

Rupee Update

POSCO, Adani Group sign pact to set up steel plant in Gujarat

Industrialist Gautam Adani-led Adani Group has signed a pact with South Korea’s POSCO to explore business opportunities in sectors like steel, renewable energy among others. Both the entities have signed a memorandum of understanding (MoU) to this effect. In a statement, Adani Group said the investment under the MoU is estimated to be up to USD 5 billion.

JPMorgan, Morgan Stanley and Goldman set price target of Rs 1,630-1,875 on Paytm; stocks tumbles for 8th day to hit fresh 52-week low

Price as on 13 Jan, 2022 09:59 AM, Click on company names for their live prices.

Earnings Impact: Wipro tumbles 5%

Price as on 13 Jan, 2022 09:33 AM, Click on company names for their live prices.

The market is now completely under the control of bulls and is set to move higher. Having realised that even their relentless selling has not brought the markets down, as perhaps they expected, the FIIs are now on the backfoot. Seizing the opportunity, the exuberant retail investors assisted by the DIIs flush with funds are driving the markets up. There is a positive and a negative dimension to this rally. The positive is that high quality large-caps are leading this rally. The negative is that many low-grade stocks which don’t justify any investment are going up. Newbie retail investors chasing low-grade stocks will lose money. The results of IT majors reinforce the fact that the industry is in a multi-year expansion cycle. In Q3 Infy has done an Usain Bolt leaving others far behind.

– Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

Top 10 movers in early trade

Price as on 13 Jan, 2022 09:20 AM, Click on company names for their live prices.

Sector Watch: IT gains, bank falls in early trade

OPENING BELL: Sensex, Nifty flat; Wipro tanks 4% post Q3 results; Infy, TCS gain 1% each

Pre-open session: Sensex climbs 300 points, Nifty above 18,250

Q3 earnings today

MindTree, CESC, GPTL Hathway, Tata Metaliks, Mishtann Foods, Plastiblend India, Aditya Birla Money, Surana Solar, Mega Corporation, Palm Jewels and Gautam Gems are among the companies that will announce their December quarter results today.

SGX Nifty signals a positive start

Nifty futures on the Singapore Exchange traded 117.50 points, or 0.65 per cent, higher at 18,333.50, signaling that Dalal Street was headed for a positive start on Thursday.

Tech View: Nifty vulnerable to profit taking

Nifty50 on Wednesday rose for the fourth straight day and, in the process, took out its immediate resistance of 18,200 level. The headline index formed a bullish candle on the daily chart, but the size of the candle’s body was smaller than the last two sessions. At the close, the 14-day RSI was close to the overbought zone. Profit-booking cannot be ruled out, said analysts.

Hong Kong stocks start with gains

Hong Kong stocks rose again at the open Thursday, building on a healthy run-up this week, following a strong lead from Wall Street as US inflation data suggested prices could be stabilising. The Hang Seng Index added 0.65 percent, or 159.31 points, to 24,561.48. The Shanghai Composite Index edged 0.10 percent, or 3.59 points, higher to 3,601.03.

Tokyo shares open lower despite US gains

Tokyo shares opened lower on Thursday after surging the previous day, despite gains on Wall Street following data showing another spike in consumer prices. The benchmark Nikkei index fell 0.37 percent, or 107.44 points, to 28,658.22 at the open, while the broader Topix index was down 0.27 percent, or 5.38 points, to 2,013.98.

Wall Street closes higher as inflation data supports Fed bets

US stock indices rose on Wednesday after data showed that while US inflation was at its highest in decades, it largely met economists’ expectations, cooling some fears that the Federal Reserve would have to pull back support even more forcibly than already expected. Dow Jones rose 0.11%, to 36,290.32, the S&P500 gained 0.28%, to 4,726.35 and the Nasdaq Composite 0.23%, to 15,188.39.

Rupee ends almost flat at 73.93 against dollar

The rupee inched higher by just 1 paisa to close at 73.93 against the US dollar on Wednesday as elevated crude oil prices offset the impact of a weak American currency and positive domestic equities. Forex traders said the less hawkish-than-expected testimony from Federal Reserve Chairman Jerome Powell calmed fears of aggressive Fed policy tightening and supported emerging market currencies.

Sensex, Nifty on Wednesday

The BSE gauge Sensex surged over 500 points to recapture the key 61,000-level on Wednesday as participants pinned hopes on robust quarterly results by companies. Extending its winning run for the fourth straight session, the 30-share Sensex settled 533.15 points or 0.88 per cent higher at 61,150.04. Intra-day, the index touched its highest point at 61,218.19. Nifty climbed 156.60 points or 0.87 per cent to end at 18,212.35.

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