KEY HIGHLIGHTS
Rupee Ends At Record Closing Low Against Dollar
The Indian rupee weakened by five paise to close at 85.83 against the US dollar. It closed at 85.78 on Friday.
Source: Bloomberg
Also Read: Rupee Hits Fresh Low Against US Dollar
Sensex, Nifty Log Sharpest Decline Since Oct. 3
The NSE Nifty 50 and BSE Sensex ended lower for a second consecutive session as a broader selloff in Indian equities sparked high volatility and loss of investor confidence. Tata Steel Ltd. and Trent Ltd. were top loser in the Nifty.
The Nifty 50 ended 389 points or 1.62% down at 23,616, and the Sensex ended 1,258 points or 1.59% down at 77,965. The is the sharpest decline in the two benchmarks since Oct. 3, 2024.
During the session, the Nifty 50 declined 1.89% to the day's low of 23,551. The Sensex fell 1.82% to the day's low of 77,782.
HDFC Bank Ltd., Reliance Industries Ltd., ITC Ltd., and Kotak Mahindra Bank Ltd. weighed on the Nifty 50 index.
Apollo Hospital Ltd., Titan Ltd., Tata Consurmer Products Ltd., and ICICI Bank Ltd. added to the Nifty 50 index.
On NSE, all 12 sectors ended lower. The NSE Nifty PSU Bank declined the most by 4%.
Broader markets underperformed benchmark indices. The BSE Midcap and Smallcap indices ended 2.44% and 3.17% down, respectively.
On BSE, all 21 sectors ended lower with the BSE Utilities declined the most.
Market breadth was skewed in favour sellers. Around 3,476 stocks declined, 652 stocks declined, and 114 stocks remained unchanged on BSE.
Stock Market Today: JLR Auto Sales
Dec Total Jaguar sales down 64% at 382 units vs 1,068 units (YoY)
Dec Total Land Rover sales down 20% at 3,629 units vs 4,519 units (YoY)
Total Jaguar sales rose 16.7% to16,617 units vs 14,235 units (YTD)
Total Land Rover sales rose 14.8% at 61,290 Units vs 53,388 units (YTD)
Stock Market Live: India VIX Jumps Over 17%
The NSE India Volatility Index jumped 16.73% to 15.80 so far today. It was at 15.58% higher at 15.64 as of 2:30 p.m., as compared to 1.62% decline in the NSE Nifty 50 index. The VIX jumped at the highest level since Dec 24.
HMPV Scare: 'Precautions Needed' But 'Don't Panic', Says Health Ministry Advisor
The human metapneumovirus (HMPV) outbreak in China, and two cases in Bengaluru have prompted health authorities in India to take precautionary measures. Speaking to NDTV Profit, Dr. Rakesh Verma, principal consultant at the Ministry of Health, addressed the situation and provided guidance on how to manage this new 'threat'.
Read story here.
Stock Market Live: Nifty In Correction Territory
The Nifty 50 was off nearly 10% from the 52-week high of 26,277 hit on Sept. 27 last year. It was trading at 23,611 as of 1:55 p.m.
The total market capitalisation of stocks in the 50-share Nifty fell Rs 3.25 lakh crore.
Buzzing Stocks: Arkade Developers
Arkade Developers Ltd. added three redevelopment projects in western Mumbai and estimates turnover of Rs 2,150 crore. The stocks is down 5.8%.
Stock Market Sees Big Selloff
Indian benchmark indices declined 1.4% as of 1:21 pm. The Nifty 50 was down 320 points to around 23,670 while the BSE Sensex lost over 1,000 points to hover just above 78,000. ITC Ltd. was the top drag in the Nifty 50 in terms of points contribution.
Read the reasons for the selloff here.
Currency Check: Rupee Hits New Low
The Indian rupee hit another all time low of 85.846 against the US dollar, as per Bloomberg data.
Stock Market Live: Nifty IT Sole Holdout To Selloff
The Nifty IT index is the sole sectoral holdout in Monday's selloff. The index was up 0.2% at 43,812.35, while the benchmark Nifty and Sensex were down 1.1% each as of 1:10 p.m.
Stock Market Live: Broader Markets Fare Worse
As equity benchmarks saw significant dip, the broader indices fared worse. Both Nifty Midcap 100 and Nifty Smallcap 250 tanked as much as 2.4%.
Stock Market Today: Wardwizard Innovations To Develop Battery Technology With C4V
Wardwizard Innovations & Mobility has signed a strategic memorandum of understanding with C4V to strengthen the development of battery technology, according to an exchange filing.
Stock Market Live: Fear Gauge Hits Sentiment
The India VIX rose 14% by noon to 15.44 as stocks saw a big selloff.
India Volatility Index, is a real-time market indicator that measures the expected volatility of the market over the next 30 days. It's often called the "fear gauge" because it reflects the level of risk and uncertainty in the market.
Stock Market Live: Market Sees Big Selloff
Indian benchmark indices declined 1.6% as of noon. The Nifty 50 was down 400 points to around 23,600 while the BSE Sensex lost over 1,200 points to drop below 78,000. ITC Ltd. was the top drag in the Nifty 50 in terms of points contribution.
Nifty slipped below the crucial 200 daily moving average.
Buzzing Stocks: ITC Hotels Will Need To List By This Date To Remain In Global Indices
As per regulation, ITC Hotels shares should be credited to the demat account of eligible ITC shareholders within 60 days from Dec. 16, the date on which it received NCLT nod for the demerger. This date comes to Feb. 14, 2025.
However, it is noteworthy that ITC is part of global and domestic indices like FTSE Global and MSCI, which are largely tracked by foreign investors.
As per FTSE Global Indices guidelines, ITC Ltd. will have to disclose the listing date for ITC Hotels within 20-days of demerger i.e. Jan. 6, 2025, to be retained in the FTSE Global Indices.
Read more here.
Stock Market Live: Nifty PSU Banks See Loss Of Rs 42,000 Crore Of Market Cap
PSU banks are under pressure. Union Bank of India, Bank of Baroda, Punjab National Bank and Central Bank of India are among the top losers.
The Nifty PSU Bank index is down 3.2%.
The decline is due to third quarter business updates that have failed to cheer investors. Union Bank of India saw 5.93% rise in advances while deposits rose 3.76% in the December quarter.
Bank of Baroda's loan book and deposits grew over 11% each.
Stock Market Live: Benchmarks Down 1%
Indian benchmark indices declined 1% as of 11:15 a.m. The Nifty 50 was down over 270 points to around 23,720 while the BSE Sensex lost over 800 points to drop below 78,400. ITC Ltd. was the top drag in the Nifty 50 in terms of points contribution.
Stock Market Live: ITC Shares Top On Nifty
ITC Ltd. was the top drag in the Nifty 50 in terms of points contribution. The benchmark is trading over 1% lower.
Stock Market Live: Sensex Losses Over 500 Points
Stock Market Live: Standard Glass Lining Technology IPO Open Today
Standard Glass Lining Technology IPO was oversubscribed within the first few hours of the issue opening on its day one.
The price band is set from Rs 133 to Rs 140 per share. The Rs 410.05-crore IPO issue is a combination of a fresh issue of Rs 210 crore and rest offer for sale.
The IPO has been subscribed 2.74 times as of 10:51 a.m. on Monday.
Qualified institutional buyers: Nil.
Non-institutional investors: 3.74 times.
Retail investors: 3.82 times.
Read story here.
Stock Market Live: Nifty, Sensex Down 0.5%
Indian benchmark indices declined 0.5% as of 10:45 a.m.
The Nifty 50 was down over 130 points to 23,860 while the BSE Sensex lost 400 points to 78,800.
Stock Market Live: Diagnostics Stocks Buzz Amid HMPV Outbreak
Shares of diagnostic companies buzzed in early trade on Monday as concerns mounted over the HMPV outbreak in China and reports of first case in India.
Vijaya Diagnostics Ltd. and Dr. Lal Path Labs Ltd. gained over 2% each, while Metropolis Healthcare Ltd. and Thyrocare Technologies Ltd. jumped over 1%.
Indian Council of Medical Research has detected two cases of Human Metapneumovirus (HMPV) in Karnataka through routine surveillance. It said the surveillance system is robust and there is no unusual surge in influenza-like illness, or severe acute respiratory infection cases in the country.
Read story here.
Stock Market Live: SBI Cards Share Price Up After Upgardes
SBI Cards and Payment Services Ltd. share price rose over 5% in early trade after the stock got a 'buy' upgrade from Nuvama Institutional Equities and Nomura, due to improving credit cost outlook and benefit from potential interest rate cuts. The stock previously had a 'reduce' rating.
Nuvama increased its target price on the SBI Cards stock to Rs 850 from Rs 620 per share. This implies a potential upside of 17.5% over Friday's close of Rs 723.
Nomura, too, raised its rating to 'buy' with a target price of Rs 825, seeing a 17.4% return potential over Thursday's close.
Read story here.
Stock Market Live: Nykaa Share Price Jumps
Nykaa parent FSN E-Ventures Ltd. share price jumped 5% in early trade on Monday after it released its quarterly business update.
The company reported revenue growth higher than mid-twenties in the December quarter. Beauty vertical growth has accelerated compared to previous quarters while eB2B continues to witness rapid expansion.
Fashion vertical is expected to deliver revenue growth of around 20%. Online fashion demand continues to subdued but remain optimistic about long-term growth opportunity.
Rupee Hits Fresh Low Against US Dollar
The rupee declined 4 paise to a record low of 85.82 against the US Dollar. The local currency opened flat at 85.77 a dollar Monday. It closed at 85.78 a dollar on Friday.
Internationally, the dollar index was marginally below 109.
Source: Bloomberg
Read here.
Stoock Market Live: ITC Share Price Down
ITC Ltd. share price settled Rs 26 lower, or 5.4%, from Friday's close of Rs 481.6 during the special pre-open session. The stock traded at Rs 455.6 on the NSE.
On the BSE, the discount to the previous close is Rs 27. The scrip was quoting Rs 455.
The stock has adjusted on the record date that will determine the eligible shareholders who will receive shares in ITC Hotels Ltd., the newly separated entity.
Investors should note that the price of ITC shares will adjust to reflect the intrinsic value of ITC Hotels, and the shares of ITC Hotels will be credited to the demat accounts of eligible shareholders after this date.
Since the shares of ITC Hotels are yet to be transferred to eligible ITC shareholders and exchanges' permission is pending, the ITC Hotel stock will remain in benchmark indices Nifty 50 and BSE Sensex as a dormant stock.
ITC shares will continue to trade in the normal market after adjusting for the demerger of the hotels business arm.
Read story here.
Stock Market Live: DCX Systems Share Price Jumps
DCX Systems Ltd. share price jumped 6.53% to Rs 393 apiece, the highest since July 3. This comes after the company secured a major export order worth Rs 483 crore from Israel's Elta Systems.
Stock Market Live: EaseMyTrip's Nishat Pitti Says No More Promoter Selling
EaseMyTrip Chairman Nishat Pitti, who stepped down as CEO, told NDTV Profit there will be no further promoter selling in the company after he divested a 1.4% stake for Rs 78.32 crore through an open market transaction last week.
Retaining his post of chairman, Pitti said he will be looking after international business expansion.
The company's board of directors approved the appointment of Rikant Pitti, the company’s CFO and Nishant's brother, as the new CEO with immediate effect.
He also said the company will meet domestic institutional investors and mutual funds after the December quarter results are out.
Read story here.
Stock Market Live: Bank Stocks Decline
Bank stocks took a beating on Monday as the markets reacted to quarterly business updates of major lenders.
Bank of Baroda, Punjab National Bank, Canara Bank and Kotak Mahindra Bank shares traded lower.
The Nifty Bank declined 0.2% in early trade to trade below 51,000. Nine of the 12 constituent stocks fell.
Axis Bank, ICICI Bank and HDFC Bank were the only ones trading in green.
Stock Market Live: Nifty, Sensex Open Higher
The NSE Nifty 50 and BSE Sensex open higher at market open on Monday, led by Bajaj Finance Ltd. and Bajaj Finserve Ltd. Kotak Mahindra Bank saw declined.
The 50-share Nifty index opened 0.17% higher at 24,045.8. The 30-share BSE Sensex started 0.07% up at 79,281.
Stock Market Live: Rupee Sees Muted Open
Rupee opens flat against US dollar.
The domestic unit opened at 85.77 against the US dollar.
It closed at 85.78 on Friday.
Source: Bloomberg
Stocks To Buy Today: Britannia, Tata Motors And More
Osho Krishan of Angel One, Vaishali Parekh of Prabhudas Lilladher, Aditya Agarwala of Invest4edu; and Sudeep Shah of SBICAP Securities share their buy calls, which can deliver upside of up to 7%.
Read the analyst calls and trading tips here.
Stock Market Live: ITC Shares To Be Top Focus
ITC Ltd.'s share price will be in focus on Monday as the stock adjusts on the record date that will determine the eligible shareholders who will receive shares in ITC Hotels Ltd., the newly separated entity.
A special trading session will take place between 9:00 a.m. and 10:00 a.m. to determine the share price of ITC, after the adjustment for the demerger. Investors should note that the price of ITC shares will adjust to reflect the intrinsic value of ITC Hotels, and the shares of ITC Hotels will be credited to the demat accounts of eligible shareholders after this date.
Since the shares of ITC Hotels are yet to be transferred to eligible ITC shareholders and exchanges' permission is pending, the ITC Hotel stock will remain in benchmark indices Nifty 50 and BSE Sensex as a dormant stock.
ITC shares will continue to trade in the normal market after adjusting for the demerger of the hotels business arm.
Read story here.
Stock Market Live: Standard Glass Lining Technology IPO Open Today
Standard Glass Lining Technology IPO will will offer shares for bidding on Monday. The price band is set from Rs 133 to Rs 140 per share. The Rs 410.05-crore IPO issue is a combination of a fresh issue of Rs 210 crore and rest offer for sale.
Stocks To Watch Today: ITC, HDFC Bank, Vedanta, Dabur
ITC Ltd. will be in focus as the ex-date and record date for demerger its hospitality arm is on Monday. A slew of banks and FMCG companies that released their quarterly business updates including HDFC Bank Ltd., Bank of Baroda, Dabur India Ltd. and Marico Ltd. are also on investors radar in today's trade.
NTPC Green Energy Ltd. and DCX Systems Ltd. announced major order wins.
Read full list of stocks to watch here.
Stock Market Live: F&O Cues
The Nifty January futures were down by 0.86% to 24,092 at a premium of 88 points, with the open interest down by 1.48% on Friday.
The open interest distribution for the Nifty 50 Jan. 9 expiry series indicated most activity at 26,500 call strikes, with the 21,850 put strikes having maximum open interest.
Stock Market Live: Nifty May Test 24,650 On Breakout Above 24,130
The NSE Nifty 50 continues to display resilience with immediate support at 23,900 and resistance at 24,130. Analysts suggest a breakout above 24,130 could propel the index toward 24,650, while a dip below 23,900 might lead to 23,650.
"Technically, on the daily chart, the Nifty formed a red candle, indicating profit booking, while on the weekly chart, it formed a green candle, indicating overall strength," Hrishikesh Yedve, research analyst at Asit C. Mehta Investment Interrmediates Ltd., said. "The index continues to hold above the 200-day simple moving average, which is currently placed near 23,900."
It remains above the breakout zone of the short-term consolidation range 23,500–23,900. As long as the index maintains above 23,900, a buy-on-dips strategy is recommended for Nifty. according to Yedve.
Read Monday's trade setup.
India Macro Data Today: HSBC Flash PMI
Today, the only macro data to be released is HSBC Flash India Composite Output Index—a seasonally adjusted index to measure combined manufacturing and services output. The reading will be for the month of December.
In November, the index rose to to 59.5, from a final reading of 59.1 in October.
Currency Check: Dollar Index Below 109
The US Dollar index that tracks the performance of the greenback against a basket of currencies dipped below 109.
The Bloomberg Dollar Spot Index down 108.9
The euro up 0.05% to $1.0313
The British pound up 0.1% to $1.2437
The Japanese yen down 0.2% to 157.61 per dollar
Asia Market Update: Nikkei Up, Kospi Down
Japan’s benchmark Nikkei 225 index dipped 0.75% to 39,557 in its first session after a prolonged holiday.
South Korea's Kospi was trading near 2,450, up 0.26%.
China's Shanghai Composite plunged 0.5% to 3,195 while the broader CSI 1000 was up 0.16% at 5,634.
In Australia, shares climbed as much as 0.4%.
Read story here.
US Market Update: S&P 500, Dow Jones Futures Little Changed After Friday Recovery
US stocks on Friday recovered after a five-day losing streak, buoyed by renewed interest in major tech stocks.
The S&P 500 finished 1.26% higher at 5,942.5, while the Nasdaq Composite advanced 1.77% to 19,621.68. The Dow Jones also increased by 0.8%, closing at 42,732.13.
Early Monday, US futures were little changed. S&P 500 contracts are down 0.1% at 5,983.75, while those for Dow Jones down 0.1% at 42,979. Nasdaq futures were trading 0.14% lower at 21,486.5.
The dollar showed mixed results against major currencies, with the yen retreating slightly from its late-week gains, trading around 157 per dollar. The US Dollar Index stood at 109.01.
Read story here.
GIFT Nifty Near 24,100; ITC, Dabur, HDFC Bank, RVNL, Vedanta Share Prices In Focus
The GIFT Nifty was trading near 24,100. ITC Ltd., Dabur India Ltd. HDFC Bank Ltd., Rail Vikash Nigam Ltd., and Vedanta Ltd. share prices are likely to react in Monday's session.
The GIFT Nifty was trading 0.07% or 17.50 points higher at 24,103.50 as of 6:40 a.m.
The NSE Nifty 50 and BSE Sensex snapped a two-day winning streak on Friday as private bank stocks declined. ICICI Bank Ltd. and HDFC Bank Ltd. share prices dragged the Nifty 50 the most. However, the benchmarks rose for the second consecutive week.
The Nifty 50 ended 199.60 points, or 0.83%, down at 23,989.05, and the Sensex ended 784.00 points, or 0.98%, down at 79,159.71.
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