After a wild move throughout the session, benchmark indices snapped their five-day winning streak on Friday, closing the week on a negative note. Rising inflation and a worsening pandemic soured the mood on Dalal Street. The 30-share pack Sensex fell 12.27 points or 0.02 per cent to close at 61,223.03. The index gyrated in a range of 570 points. Its broader peer NSE Nifty dropped 2.05 points or 0.01 per cent to 18,255.75.
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Wall Street slides at open after mixed results from big banks
The Dow Jones Industrial Average fell 117.19 points, or 0.32 per cent, at the open to 35,996.43. The S&P 500 opened lower by 21.04 points, or 0.45 per cent, at 4,637.99, while the Nasdaq Composite dropped 98.79 points, or 0.67 per cent, to 14,708.02 at the opening bell.
Passenger vehicle dispatches slide 13 pc in December on chip shortage
Passenger vehicle dispatches last month stood at 2,19,421 units compared to 2,52,998 units in December 2020.
HCL TECH Q3
#EarningsWithETNOW | HCL Technologies posts #Q3 net profit at Rs 3,442 cr vs ET NOW poll Rs 3,375 cr; revenue at Rs… https://t.co/2ShWLkBK21
— ET NOW (@ETNOWlive) 1642165295000
HCL Tech Q3 results: Net profit falls 13.6% YoY; revenue up 15.7%
IT major HCL Technologies on Friday said its consolidated net profit for the quarter ended December declined 13.6 per cent to Rs 3,442 crore from Rs 3,969 crore in the corresponding quarter last year. The company said its revenue from operations increased 15.7 per cent year-on-year (YoY) to Rs 22,331 crore from Rs 19,302 crore in the same quarter a year ago. Sequentially, revenue rose 8.1 per cent and net profits grew 5.4 per cent.
Vodafone Idea may tap FCCB route to raise $750 mn-$1 bn
Vodafone Idea is veering around towards the overseas convertible bonds option to raise between $750 million (around ₹5,550 crore) and $1 billion (around ₹7,400 crore) at the earliest, to pay its vendor dues, meet loan repayment obligations and also fund capex plans, people familiar with the matter said. “The company is considering tapping the overseas bond markets in early February, as it needs immediate funds for investing in its networks, making payments to vendors and arresting subscriber losses,” one of the people told ET.
Adani Wilmar cuts IPO size to Rs 3,600 cr
Edible oil major Adani Wilmar Ltd (AWL) has cut the size of its initial share-sale to Rs 3,600 crore from the Rs 4,500 crore planned earlier, people familiar with the development said on Friday. The company, which sells cooking oils under the Fortune brand, is expected to float its initial public offering (IPO) this month, they added. AWL is a 50:50 joint venture company between Ahmedabad-based Adani group and Singapore’s Wilmar group. Now, the IPO will comprise a fresh issue of equity shares worth Rs 3,600 crore. There will not be any secondary offering. According to the draft red herring prospectus, it was aiming to raise Rs 4,500 crore from the market by issuing fresh shares.
Gold gains Rs 93; silver jumps Rs 59 on global trends
Gold price in the national capital on Friday gained Rs 93 to Rs 47,005 per 10 grams, in line with a jump in prices of international precious metal along with rupee depreciation, according to HDFC Securities. In the previous trade, the precious metal settled at Rs 46,912 per 10 grams. Silver also jumped Rs 59 to Rs 61,005 per kg from Rs 60,946 per kg in the previous trade.
JUST IN: HCL Technologies acquires Hungarian data engineering services company Starschema for $42.5 mn
Advance-Decline ratio at 2:1
MARKET AT CLOSE: Aurobindo Pharma slips 3% following a warning letter by USFDA for Hyderabad unit
Price as on 14 Jan, 2022 04:00 PM, Click on company names for their live prices.
Rupee slumps 26 paise to close at 74.16 (provisional) against US dollar
MARKET AT CLOSE: Midcap Gainers & Losers
Price as on 14 Jan, 2022 03:55 PM, Click on company names for their live prices.
MARKETS THIS WEEK
#MarketsWithETNOW | #Nifty gains 4th week in a row to post longest winning streak since 26 Sep Check out how bench… https://t.co/RHLM8iLRXM
— ET NOW (@ETNOWlive) 1642154451000
MARKET AT CLOSE: Top Nifty50 performers & laggards
MARKET AT CLOSE: Top Sensex gainers & losers
CLOSING BELL: Sensex snaps 5-day winning streak, falls 12 pts
Volatility gauge India VIX posts worst week in over a month
CLOSING CUES: Buzzing In Trade
Price as on 14 Jan, 2022 03:16 PM, Click on company names for their live prices.
Exports rise 38.91% to $37.81 bn in December; trade deficit widens to $21.68 bn: Govt data
The country’s exports in December 2021 surged 38.91 per cent on an annual basis to $37.81 billion due to healthy performance by sectors such as engineering, textiles and chemicals, even as the trade deficit widened to $21.68 billion during the month, government data showed on Friday. Imports in December 2021 too increased 38.55 per cent to USD 59.48 billion.
Elon Musk’s favourite Dogecoin has zoomed as much as 25 per cent in the last 24 hours, after a tweet from the electric-car maker’s boss, which says the company is accepting digital currency Dogecoin to buy Tesla’s merchandise. The self-proclaimed Dogefather’s tweet sent the original meme token to fly higher to $0.2029 on Friday from $0.1623.
Top 10 gainers at this hour
Price as on 14 Jan, 2022 02:03 PM, Click on company names for their live prices.
Markets regulator Securities and Exchange Board of India (Sebi) is learnt to have cleared new-age logistics startup Delhivery’s Rs 7,460 crore initial public offering (IPO) proposal, people aware of the matter said. Gurugram-based Delhivery becomes the first top-tier startup this year to have obtained Sebi’s nod to list on domestic bourses.
JSW Infra raises USD 400 mn in maiden international bond sale
Sajjan Jindal-led JSW Group’s port development arm on Friday announced a USD 400 million fundraise through a bond issue from international investors. The money raised in the issue by JSW Infrastructure will be used to repay the existing debt of the company and its subsidiaries. The issue of the sustainability linked bond (SLB) is its debut issue in international bond markets, and the company could manage final pricing, which was lower than the guidance, as per an official statement.
Jubilant Foodworks said the Board of Directors will consider stock split on Feb 2; stock jumps 3%
Price as on 14 Jan, 2022 12:56 PM, Click on company names for their live prices.
Crypto in focus: Dogecoin
Tesla merch buyable with Dogecoin
— Elon Musk (@elonmusk) 1642141130000
STOCKS IN FOCUS: Railtel
#ETNOWExclusive | Railtel floats EoI for data centers; plans to rope in #Adani, #Tata, #HiranandaniGroup, Jio for i… https://t.co/jL3YeqG4AL
— ET NOW (@ETNOWlive) 1642144313000
Pharmaceuticals will be the contrarian sector of this year. It has underperformed over the last couple of years, and I believe it is very under-owned. You hardly see any of the pharma stocks in any portfolio. Some funds have some Cipla here or there, some funds have some midcap pharma stocks like Divi’s etc, but on the larger cap side, it is very-very under-owned. Sun Pharma we own from much lower, and I am still positively inclined because of the kind of performance it has given over the last few quarters.
– Sandip Sabharwal
Budget session of Parliament to start on Jan 31: Agencies
JUST IN: India’s WPI inflation eases to 13.56% in December from 14.23% in November
We are seeing a pullback after a vertical rally on the back of some weakness in global markets however there are no such negative cues for the market. If we look at the statistics then Indian Equity markets do well in the first two weeks of January but then it starts to correct near to Makar Sankranti or in between 15-20th January. Then there is a post-budget rally in the market. This trend may be replicated this year as well but the overall view is bullish and any pullback will be a good buying opportunity. Technically, 18000 is an immediate psychological support level while 17800/17650 are critical support levels.
– Santosh Meena, Head of Research, Swastika Investmart
JUST IN: Aditya Birla Fashion to acquire 51% stake in House of Masaba for Rs 90 crore
Sugar stocks gain, rise up to 4%
Price as on 14 Jan, 2022 11:38 AM, Click on company names for their live prices.
Shares of Motherson Sumi Systems dropped 22 per cent on Friday ahead of the company’s record date for the demerger of its wiring harness undertaking. The board of auto parts maker has fixed the record date for the scheme of arrangement as Monday, January 17. According to the stock exchange intimation, existing Motherson stock will trade ex-domestic wiring harness from Friday.
Top gainers & losers from hospitality space
Price as on 14 Jan, 2022 10:44 AM, Click on company names for their live prices.
JUST IN: Ashoka Buildcon emerges the lowest bidder (L-1) for a project at Rs 829.49 crore
Price as on 14 Jan, 2022 10:20 AM, Click on company names for their live prices.
AGS Transact Technologies will launch its initial public offering (IPO) on Wednesday, January 19. Mumbai-based company will sell its shares in the range of Rs 166-175. The public issue is purely an offer of sale (OFS) of equity shares by the promoter. As a part of the OFS, promoter Ravi B Goyal will sell shares worth up to Rs 680. This means the company will not receive any proceeds from the issue sale. The company has cut the issue size to Rs 680 crore from Rs 800 crore earlier.
Anchor lock-in period ends for Shriram Properties, RateGain
Price as on 14 Jan, 2022 09:45 AM, Click on company names for their live prices.
Inflation is turning out to be a major worry for markets this year. December PPI inflation in the US has spiked to a record 9.7%. Inflation in the Euro Zone is already at record highs. If inflationary expectations get entrenched, the Fed will have to act early, perhaps in March itself. ECB too is likely to follow suit. Even though such an emerging scenario is unfavorable for equity, markets may not react negatively since the high negative real return from fixed income makes returns from equity attractive. Since retail investors are now a force to reckon with, whether in the US or India, their response to market corrections on rate hike expectations will be crucial. FIIs again moving to sell mode ( Rs 1391 cr selling yesterday) may act as temporary headwind for some large private banking stocks in which FIIs have large holdings. This can turn out to be a buying opportunity for long-term investors.
– Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
Earnings Impact: Mindtree shares tank 5% post Q3 numbers
Price as on 14 Jan, 2022 09:33 AM, Click on company names for their live prices.
BUZZING STOCK: Paytm continues to slide, hits fresh low
Top movers on NSE in opening trade
Price as on 14 Jan, 2022 09:27 AM, Click on company names for their live prices.
Top Sensex drags in opening trade
Sensex drops 455 points, Nifty below 18,150; Mindtree tanks 3%, HDFC 2%
Aurobindo Pharma: Company has received a warning letter from the USFDA for Hyderabad Unit. This action follows the recent inspection of the Unit by the USFDA in August 2021. The Company believes that this will not impact the existing business from this facility.
Price as on 14 Jan, 2022 09:09 AM, Click on company names for their live prices.
Pre-open session: Sensex sheds 150 points, Nifty50 below 18,150
NEWS ALERT: Glenmark Specialty S.A. (Switzerland) receives NDA approval by the US FDA for Ryaltri nasal spray for the treatment of symptoms of seasonal allergic rhinitis in adults and pediatric patients 12 years of age and older
HCL Tech Q3 preview: Up to 20% YoY drop in profit likely
HCL Technologies is likely to report a year-on-year (YoY) double-digit fall in December quarter profit despite a double-digit rise in sales. Analysts expect a sharp fall in Ebitda margins although, they said, the IT major will likely maintain its revenue (constant currency) and Ebit margin guidance for FY22.
SGX Nifty signals a negative start
Nifty futures on the Singapore Exchange traded 38.50 points, or 0.21 per cent, lower at 18,262, signaling that Dalal Street was headed for a negative start on Friday.
Tech View: Nifty50 shows signs of fatigue
Nifty50 on Thursday traded in a narrow 108-point range for another session and closed where it opened, thus forming an indecisive Doji candle on the daily chart. The bulls are showing signs of fatigue and given the overbought situation, it is time for caution, said analysts. Some momentum oscillators are suggesting that the upmove in the short term is stretched and needs a pause.
Dollar heads for weekly loss as longs lose faith
The dollar headed for its largest weekly fall in eight months on Friday as investors trimmed long positions and deemed, for now, that several U.S. rate hikes this year are fully priced in. The dollar index is down about 0.9% for the week, on course for its largest weekly percentage fall since last May and set to halt a rally that has lasted about six months. The index last held at 94.849 in quiet Asia trade.
Hong Kong shares sharply down at open
Hong Kong stocks opened with big losses Friday morning after a number of top Federal Reserve officials pushed for a more hawkish approach to fighting inflation. The Hang Seng Index fell 1.00 percent, or 243.91 points, to 24,185.86. The Shanghai Composite Index eased 0.31 percent, or 11.19 points, to 3,544.07.
Tokyo shares open lower after US losses
Tokyo shares opened lower on Friday after US tech shares dived on expectations of higher interest rates. The benchmark Nikkei 225 index dropped 1.48 percent or 421.69 points to 28,067.44 in early trade, while the broader Topix index lost 1.36 percent or 27.33 points to 1,978.25.
US stocks fall as Fed speakers put rate hikes in focus
Wall Street’s major indices closed lower on Thursday with Nasdaq’s 2.5% drop leading the losses, while multiple Federal Reserve officials were out talking about inflation and interest rate hikes. The Dow Jones Industrial Average fell 176.7 points, or 0.49%, to 36,113.62, the S&P 500 lost 67.32 points, or 1.42%, to 4,659.03 and the Nasdaq Composite dropped 381.58 points to 14,806.81.
Rupee rises for 5th day against dollar
Strengthening for the fifth straight session, the rupee climbed 3 paise to close at 73.90 against the US dollar on Thursday, tracking a weak greenback overseas. At the interbank forex market, the rupee opened at 73.91 against the greenback and witnessed an intra-day high of 73.84 and a low of 73.97. It finally settled at 73.90, a rise of 3 paise over its previous close.
Sensex, Nifty on Thursday
Equity indices ticked higher for the fifth session on the trot on Thursday as largely positive Q3 results from IT majors enthused investors, though lacklustre macroeconomic data capped the gains. After a choppy session, the 30-share BSE Sensex ended 85.26 points or 0.14 per cent higher at 61,235.30. Similarly, the NSE Nifty advanced 45.45 points or 0.25 per cent to 18,257.80.