On a manic Monday, equity investors were left looking for relief as the market crash extended to the fifth straight session amid increasing geopolitical tensions and rising inflation. All sectors were deep in the red. The advance-decline ratio was in favour of losers. Tech stocks were especially beaten down during the session, taking cues from heavy sell-off in the US tech stocks. The 30-share pack Sensex crashed 1,545.67 points or 2.62 per cent to close at 57,491.51. The index has fallen about 3,820 points in the last five sessions. Its broader peer NSE Nifty fell 468.05 points or 2.66 per cent to 17,149.10.
!1 New UpdateClick here for latest updates
Market volatility to continue: Rahul Sharma, Equity 99
We witnessed bloodbath in markets with market correcting almost 3% driven by continuous FII selling and high uncertainty in the market ahead of US Fed meeting. US markets, crypto, Indian markets all are falling as FED is taking out the money. The clarity would be only after the FOMC meeting on Wednesday. However, this fall is a good opportunity for adding quality stocks. We expect the volatility to continue in the market for a short run.
Axis Bank Q3 net profit jumps 224% YoY to Rs 3,614 cr, beats estimate
a jump of 224 per cent from Rs 1,117 crore in the corresponding quarter last year. The profit was significantly higher than the analyst estimate of Rs 3,150 crore in an ETNow poll. The bank said Net Interest Income (NII) grew 17 per cent year-on-year (YoY) and 10 per cent sequentially to Rs 8,653 crore.
Shriram Transport board approves raising $3.5 bn
Indian equities corrected massively, possibly reacting to US equities trending lower and rise in crude oil prices. In my view, there were no positive triggers to take the market upwards in the near term and which is why volumes in large cap names are down 20-30% in 2022 so far, as compared to 2021, even when market caps are higher by 20-25% on a year-on-year basis. While a further 500 points downside cannot be ruled out in the Nifty, on the brighter side, the stock market is much lighter and healthier, heading into the Union Budget, after the high in mid-October 2021. Corporate earnings have been positive so far and Omicron didn’t disrupt the economy materially. The structural story remains intact and I am confident that Nifty will achieve a higher high in 2022, than what we saw in 2021.
– Amar Ambani, Senior President & Head – Institutional Equities, YES Securities
Bitcoin tumbled over 7% on Monday to its lowest in six months, as fears of a Russian attack on Ukraine saw riskier assets worldwide extend their selloff. The largest cryptocurrency trading down 7.4% at $33,650, its lowest since July 24, taking losses from its all-time high of $69,000 hit in November past 50%. The U.S. State Department said on Sunday it was ordering diplomats’ family members to leave Ukraine in one of the clearest signs yet that American officials are bracing for an aggressive Russian move in the region.
Gold jumps Rs 255 on global trends
Gold prices on Monday jumped by Rs 255 to Rs 48,431 per 10 grams in the national capital on strong global trends and rupee depreciation, according to HDFC Securities. In the previous trade, the precious metal had settled at Rs 48,176 per 10 grams. Silver also moved up by Rs 80 to Rs 64,793 per kg from Rs 64,713 per kg in the previous trade.
Sustained trade above 17150 may induce a relief rally: Rupak De, LKP Sec
Indian equities witnessed a sharp decline as the benchmark Nifty fell by more than 500 points on Monday. During the day bears breached crucial support levels in Nifty without any fights from the bulls. Moreover, momentum indicator remained in a bearish crossover on the daily chart. Going forward, the index is likely to remain weak. However, sustained trade above 17150 may induce a relief rally in the market. On the other hand, fall below 17150 may trigger correction towards 17000/1682.
How to navigate this market?
— Milind Muchhala, Executive Director, Julius Baer
Weak global cues ahead of the FED meet saw a fierce sell-off in new-age recently listed firms and stocks with high FII ownership. As the VIX rose more than 25% in late afternoon trade today, all sectoral indices were deeply in the red as the BSE Sensex breached the 57K mark. The broader markets were pounded as the Small & Midcap Indices lost almost 5% today. Though Indices pulled back a bit at the end, the fact that only a tad over 100 shares advanced depicted sentiments today. With the Nifty losing over a thousand points in the last five sessions, investors are bracing for higher volatility going forward.
– S Ranganathan, Head of Research at LKP Securities
Advance-decline ratio at 1:6
Broader markets lag benchmark
- BSE Midcap sheds 3.82%
- BSE Smallcap declines 4.43%
Top Sensex drags today
Sensex Heatmap: All constituents end in the red
Nifty ends below 17,150
CLOSING BELL: Sensex logs biggest daily fall since Nov, sinks 1,546 pts; Nifty takes losing run to 5th day, plummets 2.7%
BSE Midcap: Top gainers & losers from the pack
Zomato: 36.7 lakh shares traded in a block
Price as on 24 Jan, 2022 03:04 PM, Click on company names for their live prices.
Icra expects enhanced budgetary support for waterways, logistics sectors in budget FY23
An increased budgetary support from the government for flagship projects including Sagarmala and inland waterways will provide a boost to the execution pace and investments, domestic ratings agency Icra said on Monday in its pre-budget expectations note on ports, shipping and logistics sectors. According to the ratings agency, the government is also expected to continue its focus on improving connectivity across India and speedy implementation of projects like Bharatmala for the road logistics sector, dedicated freight corridor (DFC) for the railways and Sagarmala for the waterways.
Stocks down more than 20% from 2022 high
#MarketsWithETNOW | Stocks down more than 20% from 2022 high. Take a look Will they fall more? #vodafoneidea… https://t.co/OFw9kznSJ8
— ET NOW (@ETNOWlive) 1643015867000
Dreamfolks Services files draft papers with Sebi to raise funds via IPO
The initial public offer (IPO) is entirely an offer-for-sale of up to 21,814,200 equity shares by promoters — Liberatha Peter Kallat, Dinesh Nagpal and Mukesh Yadav, according to the draft red herring prospectus (DRHP).
S&P BSE Realty index plunges 6.56%
On BSE, 241 stocks hit upper circuit limits while 944 stocks hit lower circuit limits
Gold, silver spot prices
India VIX surges over 24% to above 23 level
European stocks slip again with tech under pressure
European shares slipped in early deals on Monday, with technology stocks falling the most after worries about tighter monetary policies triggered a bruising sell-off in global equities last week. The pan-European STOXX 600 index slipped 0.4% by 0814 GMT, with Asian stocks also under pressure as investors braced for a hawkish update from the Federal Reserve this week.
Metal index tanks over 5%; all constituents in the red
Sandip Sabharwal on new-age cos
As the valuations of loss making companies come down Their ability to raise capital to fund these losses will also… https://t.co/tGIv9WPD5n
— sandip sabharwal (@sandipsabharwal) 1643001694000
Selling intensifies! Sensex loses 1,450 points, trades below 58,000
Ashoka Buildcon wins Rs 829 crore order from NHAI
Price as on 24 Jan, 2022 01:26 PM, Click on company names for their live prices.
Cyient, a domestic engineering and technology solution provider for more than two dozen Fortune 500-companies, plans to sell stakes in units that are underperforming. “We are aggressively considering what makes sense in our portfolio,” Cyient Managing Director Krishna Bodanapu said in an interview to Bloomberg TV on Monday. “We are a bit complex and one of the objectives for this calendar year is to simplify things and divest out of businesses that do not make sense for us.”
Q3 EARNINGS: SUPREME INDUSTRIES
- Revenue: Rs 1945 crore vs Rs 1844 crore
- PAT: Rs 246 crore vs Rs 312 crore
- Stock down 4%
RBI to conduct overnight VRR auction of Rs 75,000 crore on Monday
The Reserve Bank of India on Monday said it will be conducting an overnight variable rate repo auction under liquidity adjustment facility (LAF) for an amount of Rs 75,000 crore today. The date of reversal is on January 25, 2022, the central bank said in a release.
Q3 EARNINGS: RANE (MADRAS)
- Revenue: Rs 441 cr vs Rs 435 cr YoY
- Loss of Rs 4.3 cr vs profit of Rs 5.5 cr YoY
- EBITDA margin at 3.4% vs 9% YoY
SBI Card hits fresh 52-week low ahead of earnings
Sea of red! All constituents of BSE Sensex decline
Nifty Private Bank index faring better than other sectors
Monday Mayhem! Investors lose Rs 7.76 lakh crore in today’s selloff
Advance-decline ratio skewed in favour of sellers
Nifty nears 17,200; barring Cipla, ONGC all stocks in the red
PTC India sinks 8% on market regulator’s notice
Shares of PTC India Financial Services Ltd fell as much as 8.3% on Monday after India’s market regulator directed the non-banking financial company over the weekend to address corporate governance issues before holding any board meeting. The Securities and Exchange Board of India (SEBI) also asked PTC India Financial to file an action-taken report in four weeks, the company said.
BSE Smallcap plummets 4%
Sensex top drags
#ETNOWMegaExclusive | Here's why Lauren Templeton likes #India despite high valuations @LCTempleton @CFAIIndia… https://t.co/iOy4wRnBiJ
— ET NOW (@ETNOWlive) 1643004133000
NIFTY50 gives up 17,350 level
Star Housing Finance Limited has entered into co-lending partnership with Capital India Home Loans to compliment its AUM growth across their shared operational geographies
Price as on 24 Jan, 2022 11:20 AM, Click on company names for their live prices.
NIFTY REALTY worst hit, tumbles up to 4%
Reliance unit pact to give Rs 750 cr loans to Sterling and Wilson
Price as on 24 Jan, 2022 11:18 AM, Click on company names for their live prices.
We see the FY23E Union Budget being “fiscally prudent” as well as “growth supportive”. We expect the government to continue its growth agenda via higher capex allocation, which will accelerate the investment cycle and employment. We also expect fiscal conservatism approach to be back gradually keeping in mind the likely inclusion of India in the global bond indices. With buoyancy in tax revenues, relatively contained spending and higher nominal GDP growth, we expect fiscal deficit to be contained at 6.3% vs. BE of 6.8% of GDP for FY22E. With a goal to reach a $5-trillion economy by FY25E, we expect capital expenditure allocation to continue to remain higher for FY23E as well while healthy tax revenues and mega disinvestment pipeline may help contain fiscal deficit to ~5.0%.
The crypto cart scripted a small comeback ahead of the two-day Federal Reserve meeting that begins on Tuesday. Barring Solana, all other nine out of top-10 digital tokens were trading higher during early trade on Monday. Solana has lost about 65 per cent of its value in the recent selloff. The trading volumes remained light with many investors continuing to assess troubling economic conditions and a pronounced decline in equity markets.
Rupee slips 3 paise to 74.46 against US dollar in early trade
— Press Trust of India (@PTI_News) 1642999935000
Fullerton India partners with Paytm to expand digital lending to MSMEs and consumers with special focus on smaller cities and towns
Price as on 24 Jan, 2022 10:36 AM, Click on company names for their live prices.
Sensex extends decline, down 700 points
Vodafone Idea tanks 5% after flop Q3 show
Shares of Vodafone Idea tanked over 5 per cent in early trade on Monday following the poor performance in the December quarter. The telecom major’s consolidated losses for the quarter ended December expanded to Rs 7,230.9 crore from Rs 4,532.1 crore compared to the corresponding quarter last year. The revenue from operations for Q3 also declined 10.80 per cent year-on-year (YoY) to Rs 9,717 crore as against Rs 10,894 crore in the same quarter a year ago.
Shares of new-age companies tumble up to 18%, trade below listing prices
Price as on 24 Jan, 2022 10:06 AM, Click on company names for their live prices.
Nifty faces another leg down aiming 17150 today. However if initial turbulence eases off without penetrating 17375, expect a pull back to 17680-800 in the next few sessions.
– Anand James – Chief Market Strategist at Geojit Financial Services
Most active stocks on NSE in morning trade
Price as on 24 Jan, 2022 09:57 AM, Click on company names for their live prices.
The trend in global stock markets has turned distinctly bearish. Last week S&P 500 and Nasdaq closed 8% and 15% below their all time highs. The sell-off in tech stocks has been brutal last week. European stocks too turned bearish. The heightened tensions in the Russia-Ukraine border is a major geopolitical concern.FIIs again turning big sellers is a major headwind. Investors have to move cautiously. An important feature of the tech sell-off is that bulk of the selling is happening in non-profitable tech stocks. This trend is impacting stocks like Zomato and Paytm in India too. It is important to understand the fact that Indian IT stocks with high profits and good earnings visibility are in a totally different league. Results of RIL and ICICI Bank are very good, reinforcing the current trend of rising profitability of large Indian corporates.
– Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
Top Sensex drags in opening deals
Price as on 24 Jan, 2022 09:23 AM, Click on company names for their live prices.