sensex today: Stock Market LIVE Updates: Sensex extends losses, falls 400 points; Nifty below 18,000; FMCG index rallies over 1%; Bajaj twins tank up to 6%
The Nifty and Sensex had slumped about 1% on Wednesday ahead of the minutes of the Fed’s last meeting.
The minutes showed Fed policymakers still focused on controlling the pace of price increases that threatened to run hotter than anticipated. But they also contained a caution against late-year rate cuts traders have priced in.
Oil prices slid again on Wednesday, taking the drop over the past two sessions to 9.4%, on worries about global growth and rising COVID-19 cases in China. Oil prices rebounded on Thursday but are still below $79 per barrel. [O/R]
Lower crude prices aid oil-importing countries like India, where crude constitutes the bulk of the country’s import bill.
Eleven of the 13 major sectoral indexes were higher, while 35 of the Nifty 50 constituents rose.
Among individual stocks, Bajaj Finance about 6% after the Indian shadow lender reported a moderation in loan growth and assets under management in the third quarter.
Mahindra and Mahindra Financial Services rose 2% after the central bank lifted curbs placed on the company last year that prevented it from using third-party services for loan recovery.
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Suryoday Small Finance Bank Q3 update
Ujjivan Small Finance Bank Q3 update
Grasim Industries Incorporated unit Grasim Business Services.
Price as on 05 Jan, 2023 12:38 PM, Click on company names for their live prices.
Market live updates: Sensex erases early gains, tanks 300 pts
Market live updates: Nifty slips below 18,000
Bharat Forge entered into non-binding memorandum of understanding (MoU) with General Atomics.
Price as on 05 Jan, 2023 11:32 AM, Click on company names for their live prices.
Shares of smallcap Likhitha Infrastructure rallied about 5% to Rs 246 in Thursday’s intraday trade on BSE after the company received total orders worth approximately Rs 457.39 crore from various oil and gas distribution companies during the recently-concluded quarter.
Price as on 05 Jan, 2023 11:28 AM, Click on company names for their live prices.
Godrej Consumer Products on Thursday forecast sales on a constant currency basis to increase in the mid-teens percentage range for the third quarter, benefiting from demand for its home and personal care products in India.
Price as on 05 Jan, 2023 11:18 AM, Click on company names for their live prices.
Arvind Fashions appoints Girdhar Kumar Chitlangia as Chief Financial Officer (From Agencies)
Price as on 05 Jan, 2023 11:15 AM, Click on company names for their live prices.
The US Fed published its minutes of the December meeting. The key takeaways from the minutes is that the Fed doesn’t want to take inflation lightly. Fed Chair Jerome Powell was caught on the wrong foot when he called inflation as ‘transitory’ in 2021. Fed is once bitten twice shy. They want to err on the side of caution and change gears only once they see the inflation hitting their target of 2%. Clearly, they don’t want to trap themselves in a box once again.
– Apurva Sheth, Head of Market Perspectives, Samco Securities
Lupin launches fixed-dose triple drug combination of Indacaterol, Glycopyrronium and Mometasone for managing inadequately controlled asthma amongst patients under the brand name DIFIZMA® in India.
Price as on 05 Jan, 2023 11:03 AM, Click on company names for their live prices.
RHI Magnesita’s board meeting will be held to issue and allot 2,70,00,000 equity shares on a preferential basis to DBRL.
Price as on 05 Jan, 2023 10:59 AM, Click on company names for their live prices.
SJVN will make an investment of Rs 2,615 crore in a hydroelectric project in Himachal Pradesh. On completion of the project, the company will earn 16.50% return on the equity infusion. The investment will be 70% debt and 30% equity.
Price as on 05 Jan, 2023 10:40 AM, Click on company names for their live prices.
The Reserve Bank of India has lifted the restrictions on M&M Financial for carrying out loan recovery or repossession activities through outsourcing arrangements with third parties.
Price as on 05 Jan, 2023 10:28 AM, Click on company names for their live prices.
FMCG index rallies over 1%; check out the top performers from the pack
Price as on 05 Jan, 2023 10:10 AM, Click on company names for their live prices.
Hindustan Unilever completed acquisition of 19.8% stake in Nutritionalab for Rs 70 crore.
Price as on 05 Jan, 2023 09:49 AM, Click on company names for their live prices.
Though the pull back towards close restricted a breach of 18000 yesterday, bears dominated the day, bringing 17500 into the radar. An outright collapse is less expected early today though. Favoured view expects renewed bargain hunting from the 18000 vicinity, but we would wait for a breach of 18150 to confirm strength.Alternatively, direct fall below 17960 will allow bears to continue dominance with nearest support seen at 17670.
– Anand James – Chief Market Strategist at Geojit Financial Services
Rupee rises 9 paise to 82.73 against US dollar in early trade: Agencies
The Fed minutes were distinctly hawkish with the message that “restrictive policy stance would need to be maintained until the incoming data provided confidence that inflation was on a sustained downward path to 2 percent”. In spite of this hawkish minutes the US markets closed in the positive territory because the markets expect a soft landing for the US economy since the economy continues to be resilient. In India the near-term challenge to the market comes from the sustained selling by FIIs who sold Rs 2620 crores equity in the cash market yesterday taking their selling spree to 9 consecutive days. FIIs are net short in the derivatives segment too. Data from the banking segment indicates continuing credit growth and improving asset quality which indicates good Q3 results. Investors can utilise market weakness to buy high quality banking stocks.
– Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
Bajaj Finance falls 6%; here are the top losers from the financial services sector
Price as on 05 Jan, 2023 09:32 AM, Click on company names for their live prices.
GOLDMAN SACHS ON FMCG
#BrokerageRadar | @GoldmanSachs on FMCG 2023: Staples outperformance over discretionary may continue #StockMarket… https://t.co/7XPrf9s2aN
— ET NOW (@ETNOWlive) 1672886206000
Sector Watch: Nifty Financial Services falls 0.40%
Active stocks in morning trade
Price as on 05 Jan, 2023 09:20 AM, Click on company names for their live prices.
Bajaj Finance has booked 7.8 million new loans in the quarter ended December, compared with 7.4 million a year ago, according to provisional figures. The new loans booked in the last quarter were the highest-ever for the company. The company’s liquidity position remains strong, with the consolidated net liquidity surplus at Rs 12,750 crore at the end of the last quarter.
Price as on 05 Jan, 2023 09:20 AM, Click on company names for their live prices.
Opening Bell: Sensex rises 150 pts, Nifty nears 18,100; Bajaj twins tumble up to 6%
Pre-open session: Sensex rises over 150 points; Nifty above 18,100
Asia stocks hit 4-month high on reopening of Chinese economy
Asian shares rose on Thursday on investor hopes for China’s emergence from the COVID-19 pandemic, while the dollar stayed under pressure even as the U.S. Federal Reserve had a warning against market bets on interest rate cuts this year.
SGX Nifty signals a positive start
Nifty futures on the Singapore Exchange traded 51 points, or 0.28 per cent, higher at 18,162, signaling that Dalal Street was headed for a positive start on Thursday.
Tech View: Nifty forms long bear candle
While negating the higher low formation of the last four trading sessions, headline equity index Nifty today formed a long bear candle on the daily charts and indicated a downside breakout of the recent sideways range movement in the market.
Tokyo stocks open higher after US gains
Tokyo stocks opened higher Thursday following Wall Street gains as markets shrugged off messaging from the Federal Reserve reiterating its commitment to lowering inflation.The benchmark Nikkei 225 index rose 0.57 percent, or 147.01 points, to 25,863.87 at the open, while the broader Topix index added 0.17 percent, or 3.15 points, to 1,871.30.
S&P closes higher after Fed minutes confirm inflation focus
The S&P 500 finished higher on Wednesday but below its session peak after volatile trading following the release of minutes from the Federal Reserve’s last meeting, which showed officials laser-focused on controlling inflation even as they agreed to slow their interest rate hiking pace.
Oil prices rebound after opening the year with steep losses
Oil prices rebounded on Thursday after opening the year down more than 9%, the worst yearly start in over three decades, as investors took advantage of the decline to buy futures on expectations long-term fuel demand will remain steady.
Rupee climbs 23 paise to 82.77 against US dollar
The rupee recovered from its all-time low level and settled 23 paise higher at 82.77 against the US dollar on Wednesday, supported by easing crude oil prices.
Sensex, Nifty on Wednesday
The BSE Sensex ended 636 points or 1.04% lower at 60,826, and Nifty 50 closed with cuts of 190 points or 1.04% at 18,127.
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