After trading flat for most of the day, benchmark indices slumped on Tuesday after US Futures opened deep in the red. Weak global cues from elsewhere also dampened the market mood. All sectors saw selling. Metals, realty and IT names were especially under pressure. Volatility also rose ahead of the press conference by the Finance Minister today. Investors were left poorer by Rs 3.71 lakh crore as the total market cap of BSE-listed firms, which reflects investor wealth, slipped to Rs 276.30 lakh crore.
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Kotak Investment Advisors’ pre-IPO fund mobilises Rs 2,000 crore
Kotak Investment Advisors on Tuesday SAID it has successfully closed its maiden Kotak pre-IPO Opportunities Fund, raising Rs 2,000 crore. The fund will invest in a range of India-focused late-stage new-age businesses with a strong moat of technology, according to a statement. The Kotak Pre-IPO Opportunities Fund has already made investments worth Rs 653 crore in five deals and has another Rs 405 crore worth deals in various stages of evaluation and execution.
Nifty started the day on a positive note but failed to carry the momentum throughout the session. On the higher end price found resistance at 18350 which resulted in a sharp fall towards 18080. On the daily chart Nifty has formed a bearish engulfing pattern. A bearish harmonic pattern is also visible on the daily chart of Nifty. Momentum oscillator RSI (14) has entered in a bearish crossover. On the higher end resistance is visible at 18350-18400; whereas on the lower end support is visible at 18000/17850.
– Rupak De, Senior Technical Analyst at LKP Securities
How to navigate this market?
— Rahul Sharma – co-owner, Equity 99
Raymond to redevelop residential project in Mumbai’s western sub-urban district
‘Ten X Realty Limited’, the step-down wholly owned subsidiary of Raymond, has today signed a binding term sheet for joint redevelopment of residential project in the western sub-urban district of Mumbai. The project is estimated to have, in aggregate, revenue potential of around Rs 2,000 crore over a period of next 5 years. This is in line with the Company’s growth plan to expand its Realty horizons beyond Thane.
Following a weak lead from the global markets, domestic indices witnessed a highly volatile trade ahead of the press conference by the Finance Minister today. Surge in oil prices and FIIs turning net sellers also added volatility in the domestic market. Globally, markets witnessed selling pressure following a surge in US treasury yield amid rate hike worries while oil prices rose on supply tension owing to the drone attack on UAE.
– Vinod Nair, Head Of Research at Geojit Financial Services
Rupee Close Today
Rupee falls 33 paise to close at 74.58 (provisional) against US dollar
— Press Trust of India (@PTI_News) 1642500873000
Market Stats: Advance-decline ratio in favour of sellers
Sector Watch: All sectors end in the red
> Realty, Metal, Auto worst performers
Sensex Heatmap: Only 7 of 30 Sensex stocks end in the green
How Nifty moved today
CLOSING BELL: Late selling drags Sensex 554 points lower; Nifty barely holds above 18,100; Maruti, UltraTech tank 4% each
Bajaj Auto Q3 Preview: Profit may drop over 20% on commodity inflation
Bajaj Auto is likely to report over a 20 per cent drop in year-on-year (YoY) profit in the December quarter on flattish sales. Realisation may increase due to price hikes, but margins may diminish 400-550 basis points due to delay in the passing-through of commodity inflation. Analysts said higher export contribution and price hikes may dilute the impact of cost inflation a bit and are factoring in some recovery.
Global Market Check
- The Stoxx Europe 600 fell 1.2%
- Futures on the S&P 500 fell 1.1%
- Futures on the Nasdaq 100 fell 1.7%
- Futures on the Dow Jones Industrial Average fell 0.7%
- The MSCI Asia Pacific Index fell 0.2%
- The MSCI Emerging Markets Index fell 0.2%
Source: Bloomberg
Goldman Sachs sees Brent oil hitting $100/bbl in Q3 2022
Goldman Sachs expects oil prices hitting $100 per barrel in the second half of this year, citing a lower than expected hit to demand from the Omicron coronavirus variant coupled with increased supply disruptions and OPEC+ shortfalls. “This has kept the global oil market in a larger deficit than even our above consensus forecast,” Goldman said in a note dated Monday.
Top Sensex drags in late afternoon trade
Sensex sees fag-end selling amid weakness in US futures
Volatility gauge India VIX jumps 5.39% to 17.67
Reliance Retail buys 54% stake in Addverb Tech for USD 132 mn
Addverb Technologies co-founder and CEO Sangeet Kumar told PTI that the company will continue to operate independently and will use the funds received from Reliance to expand business overseas as well as set up one of the biggest robotic manufacturing facilities in Noida.
Gold, silver spot prices
FTSE 100 eases on weakness in miners, rate hike jitters
London’s FTSE 100 dropped on Tuesday, with shares of consumer firms and precious metals’ miners leading the decline, while improving employment conditions in the UK and rising U.S. Treasury yields signalled growing bets of tighter monetary policies. The blue-chip FTSE 100 eased 0.4%. Precious miners and consumer focussed shares Diageo and British American Tobacco were the top drags. The domestically focussed mid-cap index fell 0.5%.
Market Check: US futures trade lower
Best performing bank stocks in today’s trade
Price as on 18 Jan, 2022 01:44 PM, Click on company names for their live prices.
Q3 EARNINGS: RAMERISHNA FORGINGS
- Declared Third Interim dividend of Rs. 0.50 per share
- Stock split of Company’s equity shares of face value of Rs. 10/- each to face value of Rs. 2/- each
- Company sets target to be net debt free by FY2025
Sensex reverses losses, trades flat with positive bias
Electronics manufacturing firm Dixon Technologies and Imagine Marketing — the parent company of earwear brand boat — have formed a 50:50 joint venture to manufacture Bluetooth enabled audio devices.
Price as on 18 Jan, 2022 01:05 PM, Click on company names for their live prices.
LUPIN: Co made acquisition of a portfolio of brands of Anglo-French Drugs & Industries limited and its associates
Price as on 18 Jan, 2022 01:00 PM, Click on company names for their live prices.
Radiant Cash, Veranda Learning get Sebi nod to float IPOs
Radiant Cash Management Services, an integrated cash logistics player, and online education platform Veranda Learning Solutions have received the go ahead from capital markets regulator Sebi to float their initial public offerings (IPOs). The two companies, filed their preliminary IPO papers with Sebi between October and November and obtained the observation letter during January 10-11, an update with Sebi showed on Tuesday.
Finance Minister Nirmala Sitharaman to address press conference at 4:30 pm
Online travel service provider EaseMyTrip on Tuesday said it has entered into a partnership with regional airline Flybig to sell the latter’s tickets exclusively on its platform.
Price as on 18 Jan, 2022 12:43 PM, Click on company names for their live prices.
Top gainers at this hour
Price as on 18 Jan, 2022 12:39 PM, Click on company names for their live prices.
Delhivery gets Sebi’s go-ahead to raise Rs 7,460 cr via IPO
Supply chain company Delhivery has received capital markets regulator Sebi’s approval to raise Rs 7,460 crore through an initial public offering (IPO). The IPO comprises fresh issuance of equity shares worth Rs 5,000 crore and an offer for sale (OFS) component of Rs 2,460 crore by existing shareholders, according to the draft red herring prospectus (DRHP).
STOCK IN FOCUS: Tata Motors
#StocksToWatch | #TataMotors takes a marginal price hike on its passenger vehicles; extends price protection yet ag… https://t.co/TAYGc4qt10
— ET NOW (@ETNOWlive) 1642486821000
Bajaj Finance trades flat ahead of earnings
Price as on 18 Jan, 2022 11:43 AM, Click on company names for their live prices.
BOJ raises price outlook but maintains ultra-easy policy
The Bank of Japan upgraded its inflation forecasts on Tuesday and flagged heightening chances the recent commodity-driven price hikes will broaden, the latest sign of its conviction Japan is emerging sustainably out of deflation. The central bank also revised up next fiscal year’s growth forecast and offered a more upbeat view on the economy than three months ago, taking in stride the recent spike in Omicron coronavirus variant cases at least for the time being.
Inox Wind plans to offer up to Rs 400 crore shares in Inox Green IPO
Price as on 18 Jan, 2022 11:11 AM, Click on company names for their live prices.
Top gainers from the hospitality & tourism sector
Price as on 18 Jan, 2022 10:58 AM, Click on company names for their live prices.
Sensex top drags on BSE
Nazara Technologies to acquire 55% stake in programmatic advertising and monetisation company Datawrkz
Price as on 18 Jan, 2022 10:31 AM, Click on company names for their live prices.
IEX: Co have executed a share purchase agreement by and between co, IOC and IGX subsidiary of the co, for sale of 4.93% stake in IGX to IOCL
Price as on 18 Jan, 2022 10:17 AM, Click on company names for their live prices.
Sensex reverses opening gains, down 50 points
I would look at around 19,000 on the upside for Nifty and may be 16,500 on the downside. It is a very broad band but the way the markets are, the kind of liquidity and volatility that there are, the bands will have to be broader. In this range, we will see a massive churn in sectors. A lot of sectors will be going up and down the pecking order and that is where money will be made.
– Atul…
Read More:Sensex Today: CLOSING BELL: Late selling drags Sensex 554 points lower; Nifty barely holds above 18,100; Maruti,
2022-01-18 11:27:00