KEY HIGHLIGHTS
US Futures Advance Ahead Of CPI Data
At 3:30 p.m., futures contract of Dow Jones was up 0.1% to 42,804.00, that of S&P 500 was also 0.1% up at 5,888.75, and Nasdaq 100 futures contract was 0.2% up at 20,960.25.
Stock Market Highlights: Nifty, Sensex Extend Gains For Second Straight Session
The NSE Nifty 50 and BSE Sensex extend gains for the second straight session on Wednesday, ahead of the US CPI data. After a positive opening the markets remained non-directional as traders were possibly waiting for a breakout on either side.
The Nifty 50 ended 37.15 points or 0.16% higher at 23,213.20, and the Sensex ended 224.45 points or 0.29% higher to 76,724.08.
NTPC, Trent Ltd. and Power Grid Corporation Ltd. were top gainers in the Nifty 50 index on Wednesday.
During the session, the Nifty 50 rose 0.51% to the day's high of 23,293.65. The Sensex rose 0.64% to 76,835.61.
"The consecutive DOJI candlestick patterns indicate indecisiveness between Bulls and Bears, though the overall trend remains bearish. A move above 23,750 could signal a reversal, while a breach of 23,050 could push the Index lower to 22,800. Immediate support is at 23,140, and resistance is at 23,350," said Aditya Gaggar Director of Progressive Shares.
Reliance Industries Ltd., NTPC Ltd., Kotak Mahindra Bank Ltd., Trent Ltd. and Larsen And Toubro Ltd. added to the Nifty 50 index.
Mahindra & Mahindra Ltd., Axis Bank Ltd., Bajaj Finance Ltd., HDFC Bank and Bajaj Finserv Ltd. weighed on the Nifty 50 index.
On NSE, seven sectors advanced, and five declined out of 12. The NSE Nifty Realty rose the most, and the NSE Nifty Media declined the most.
Broader indices tracked the benchmarks. BSE Midcap ended 0.3% up and BSE Smallcap closed with 0.1% gain.
Four of the 21 sectoral indices ended lower and remaining rose. BSE Utilities rose the most.
Market breadth was skewed in the favour of buyers. As many as 2,144 stocks rose, 1,808 fell, and 112 remained unchanged on the BSE.
Stock Market At Closing
Nifty and Sensex extend gains for the second straight session.
Intraday, both Nifty and Sensex had risen 0.5% each.
Nifty ends 0.16% or 37.15 points up at 23,213.20.
Sensex ends 0.29% or 224.45 points lower at 76,724.08.
Broader indices outperformed. Nifty Midcap 100 ended 0.41% up; Nifty Smallcap 250 closed 0.52% higher.
Most sectoral indices rose with Nifty realty rising the most.
Trent and NTPC were top Nifty gainers.
Mahindra & Mahindra, Axis Bank fell the most.
Stock Market Live: KPI Green Gets 62.20 MW Solar Power Order
KPI Green Energy on Wednesday received work order for development of solar power project with capacity of 62.20 MW under captive power producer.
Source: Exchange filing
Bank Of Maharashtra Q3 Results: Profit Jumps 36% To Rs 1,406 Crore
Bank Of Maharashtra Earnings Highlight (YoY)
Net profit rises 36% to Rs 1,406 crore versus Rs 1,036 crore.
Gross NPA at 1.80% versus 1.84% (QoQ).
Net NPA flat at 0.20% (QoQ).
NII rises 19% to Rs 2,943 crore versus Rs 2,466 crore.
India's Merchandise Trade Deficit Narrows To Three-Month Low Of $21.9 Billion In December
India's merchandise trade deficit narrowed to the lowest in threemonths in December, led by lower exports.
In absolute terms, the trade gap narrowed to $21.9 billion in December, according to a press briefing by the Ministry of Commerce and Industry on Wednesday. December exports fell by 1% year-on-year to $38 billion while imports rose 4.9% year-on-year to $59.95 billion.
Rupee Vs Dollar: Rupee Sees Sharp Recovery Against US Dollar
Rupee strengthened as much as 34 paise against the dollar during the day.
Rupee currently trades 24 paise lower at 86.40 against the dollar.
It closed at 86.64 on Tuesday.
Source: Bloomberg
Stock Market Live: NESCO Emerges As Highest Bidder For Contract From National Highway Logistics Management
NESCO on Wednesday emerged as highest bidder for contract from National Highway Logistics Management.
It is the highest bidder for developing, operating and maintaining of wayside amenities on lease basis.
Source: Exchange Filing
Stock Market Live: Somany Ceramics To Sell Stake In Arm
Somany Ceramics to offload 51% stake in its arm Amora Tiles.
Source: Exchange Filing
Rupee Vs Dollar: Rupee Strengthens To 86.31
Rupee strengthened by 32 paise to 86.31 against the dollar. It closed at 86.64 on Friday.
Source: Bloomberg
The dollar index is 0.07% lower at 109.10. Brent crude is up 0.44% to $80.27.
Axis Bank Share Price Update: Large Trade In Stock
Over 3.32 million shares of Axis Bank were traded via a block deal on Wednesday. The share of Axis Bank fell as much as 3.20% to Rs 1,018 apiece.
Stock Market Live: Maharashtra Scooters Gains Over 5% After Profit More Than Doubles To Rs 3.3 Crore
Maharashtra Scooters Highlights (YoY)
Net Profit doubles to Rs 3.3 crore versus Rs 1 crore.
Revenue rises to Rs 5.8crore versus Rs 6.4 crore.
Ebitda rises to Rs 4.1 crore versus Rs 1.2 crore.
Margin at 70.3% versus 18.9%.
Stock Market Live: Trent Shares Rise As Elara Capital Initiates Coverage With Buy Rating
Trent rose over 5% on Wednesday after Elara Capital initiated coverage with a 'buy' rating and a target price of Rs 8,500 indicating a 38% upside.
Stock Market Live: Alembic Pharma Gets US FDA Final Approval For Brexpiprazole Tablets
Alembic Pharma gets final USFDA approval for Brexpiprazole Tablets that are used to treat certain mental health issues.
Source: Exchange Filing.
Stock Market Live: IDFC First Bank Shares Trade In Block Deal
1.17 million shares of IDFC First Bank traded in a block deal on Wednesday.
Stock Market Live: J Kumar Infra Wins Order Worth Rs 1,073 Crore From NBCC
J Kumar Infra shares rose over 2% after it received a Letter of award by NBCC for a group housing project worth Rs 1,073 crore.
Source: Exchange filing
Sensex, Nifty Today: Stock Market Watch 12 PM
Indian equities continue to trade higher.
Intraday, both Nifty and Sensex rose over 0.50%.
Nifty rose 0.51% or 117.60 points at 23,293.65.
Sensex rose 0.64% or 491.42 points higher at 76,991.05.
Broader indices also advanced. Nifty Midcap rose 0.96%; Nifty Smallcap was trading 1% higher.
Most sectoral indices advance, led by Nifty Realty.
Nifty Bank rose 0.45%, Nifty IT was up 0.65%.
NTPC, Power Grid and Trent were top Nifty gainers.
HDFC Life, Mahindra & Mahindra and Bajaj Finance top Nifty losers.
Stock Market Live: NBCC Stocks Rise Over 2% On Rs 405 Crore Order Win
NBCC shares rose over 2% after the company won multiple orders worth Rs 405.08 crore.
Source: Exchange filing
Read full story here.
Stock Market Live: HDFC AMC Share Price Rises Over 4%
HDFC Asset Management Co.'s share price soared over 4% in early trade on Wednesday after solid third quarter financial results a day prior led to multiple brokerages maintaining their 'buy' rating on the stock.
The company's net profit grew 31.4% on a yearly basis to Rs 641 crore. Total income surged 26% to Rs 1,028 crore. Both beat street estimates.
Read full story here.
Stock Market Live: Adani Power, Adani Green Continue Rally For Second Day
Shares of Adani Power Ltd. and Adani Green Energy Ltd. rallied for for a second day on Wednesday. Adani Green Energy in this week has risen 16.44%, while Adani Power has surged 20.78%.
Read full story here.
Stock Market Live: HUDCO To Consider Raising Borrowing Plan To Rs 55,000 Crore
HUDCO on Jan. 22 will consider raising the borrowings in financial year 2025 to Rs 55,000 crore.
Source: Exchange Filing
Stock Market Live: Adani Green's Operational Capacity Rose By 37% In 9 Months
Adani Green's 9-Month operational capacity increased by 37% to 11,609 MW (YoY)
9-Month greenfield addition at 2,693 MW solar and 438 MW wind power
9-Month sale of energy increased 23% to 20,108 Mn units (YoY).
9-Month solar portfolio CUF at 23.5% backed by 99.4% plant availability.
9-Month wind portfolio CUF at 29.2% backed by 95% plant availability.
9-Month hybrid portfolio CUF at 39.8% backed by 99.7% plant availability.
Source: Exchange Filing
Read full story here.
Stock Market Live: Waaree Renewable Share Price Gains Ahead Of Dividend Announcement
Shares of Waaree Renewable Technologies Ltd. surged on Wednesday, gaining over 16%, following a 17% gain on Tuesday. The recovery comes after a sharp decline of more than 20% on Monday, continuing a downward trend that started on Jan. 8.
Waaree Renewable Technologies revealed that its board would consider the declaration of an interim dividend for equity shareholders, along with setting a record date for the payment on Jan. 16.
Read full story here.
Stock Market Live: IRFC Share Price Rises After Big Coal Block Project Win
Indian Railway Finance Corp.'s share price rose as much as 3.65% after it emerged as the lowest bidder for financing a Rs 3,167-crore project for the development of the Banhardih Coal Block in Latehar district, Jharkhand.
Read full story here.
Stock Market Live: All Textile Companies Trade In Green
All the textile companies were trading in green on Wednesday with Vardhman Textiles gaining the most.
Stock Market Live: Minda Corp Shares Rise Over 5%
Minda Corp shares rise over 5% as the company looks to acquire 49% stake in Flash Electronics for Rs 1,372 crore.
Read full story here.
Stock Market Live: Aditya Birla Fashion Issue Shares
Aditya Birla Fashion and Retail Ltd. on Wednesday raised nearly Rs 4,900 crore by selling shares to promoter entity via preferential issue and qualified institutional placement.
Under the preferential issue, ABFRL sold over four crore shares worth Rs 1,297 crore to promoter Pilani Investment and Industries Corp. The shares were issued at Rs 317.45 apiece. The investment increases the promoter entity's shareholding from 0.37% to 3.9%.
Source: Exchange filing
Read full story here.
Stock Market Live: AllCargo Gati Pares Gains After Rising Over 5%
The shares of AllCargo Gati pared gains to trade over 2% at Rs 77.35 per share on Wednesday. The stock rose over 5% after the company reported rise in December total volume.
Stock Market Live: Indian Overseas Bank Share Price Records Worst Fall Since June 4
Indian Overseas Bank's share price recorded its worst fall since June 4 on Wednesday after the stock saw a one-day rise on Tuesday. Before Tuesday, the stock had fallen consecutively in four sessions, in which it lost 11%.
The stock saw a large deal on Tuesday, in which, 14.92 lakh shares changed hands in the company at Rs 50.86 per share.
Read full story here.
Stock Market Live: Shoppers Stop Shares Rise Over 11%
Shoppers Stop Ltd. share price surged as much as 11% in early trade on Wednesday after third quarter net profit beats estimates.
The company's revenue from operations increased by 11.5% on a yearly basis to Rs 1,379 crore. Net profit surged 42% to Rs 52 crore in comparison to Rs 37 crore reported in the same quarter last year.
Stock Market Live: Quadrant Future Tek Continues Upward Trend
The shares of Quadrant Future Tek continues is upward trend with the recently listed stock trading over 16% higher on Wednesday. The stock was trading 14.85% higher as of 9:46 a.m. at Rs 510.15 per share.
Stock Market Live: Nifty Oil & Gas Sees Advance, Nifty Pharma Declines
On NSE, 10 sectors out of the 12 advanced while two declined. The NSE Nifty oil and gas advanced the most, and the NSE Pharma declined the most.
Broader markets were mixed, with the BSE Midcap indices trading 0.26% lower and underperforming the benchmark index. On the other hand, BSE Smallcap indices was trading 0.18% higher outperforming the benchmarks.
On BSE, 13 sectors advanced, and eight declined out of 21. The BSE Oil and Gas rose the most, and the BSE Healthcare declined the most.
Market breadth was skewed in favour of buyers. Around 1,564 advanced, 1,479 stocks declined, and 129 remained unchanged on BSE.
Stock Market Live: RIL, HDFC Bank And Maruti Among Top Gainers
Reliance Industries Ltd., HDFC Bank Ltd., Maruti Suzuki Ltd., Kotak Mahindra Bank Ltd., Larsen & Toubro added to the Nifty 50 index.
ICICI Bank Ltd., Axis Bank Ltd., Mahindra & Mahindra Ltd., Hindustan Unilever Ltd. and Bajaj Finserv Ltd. limited gains to the Nifty 50 index.
Stock Market Live: Nifty, Sensex Open Higher As HDFC Bank and Maruti Suzuki Lead
The NSE Nifty 50 and BSE Sensex continues its upward trend on Wednesday. The Nifty 50 opened 74.40 points or 0.32% up at 23,250.45, and the Sensex was 400.51 points or 0.52% higher at 76,900.14.
"We anticipate that the markets may have entered a new phase characterized by an increase in bearish data points, making it unlikely for a sudden shift to a bullish outlook in just a few days. While participating in these rallies is possible, navigating this challenging environment will require caution, as a potential pullback looms on the horizon," said Ameya Ranadive, Chartered Market Technician, StoxBox.
Stock Market Live Update: Nifty, Sensex Trade Higher Pre-Open
At pre-open, the NSE Nifty 50 was trading 74.40 points or 0.32% higher at 23,250.45. The BSE Sensex was 392.18 points or 0.51% higher at 76,891.81.
Rupee Vs Dollar Today: Indian Currency Opens Stronger Against Dollar
Rupee strengthened by 15 paise to open at 86.49 against the US Dollar. It closed at 86.64 on Friday.
Source: Bloomberg
The dollar index is 0.06% higher at 109.25. Brent crude is up 0.05% to $79.96.
Nifty Today: Check Today's Projected Range
Nifty is expected to consolidate with a slight negative bias between 22,900 and 23,600, according to India Forex & Asset Management Pvt. Ltd. (IFA Global). Bank Nifty outperformed yesterday and can give sharp short covering. It is expected to trade between 48,300 and 44,400.
"India VIX cooled off yesterday by 3% as the markets consolidated," the note said.
Rupee Vs Dollar: Check Today's Trading Range
The Indian Rupee ended 60 weaker at 86.64, after the new RBI governor said that he is open to having a more flexible Rupee.
The currency is expected to open around 86.58 and trade a 86.50-86.75 range with weakening bias, according to India Forex & Asset Management Pvt. Ltd. (IFA Global).
Meanwhile, the 1-year forward yield came ended flat at 2.57%. On the other hand, the 3-month at-the-money-forward (ATMF) implied volatility rose by 14 basis points to 3.87%.
Stock Market News Live: Dixon Tech Gains Emkay Coverage
Dixon Technologies Ltd., an electronics components maker, has received a fresh bullish call from Emkay Global as it sees multiple mid-to-long-term growth drivers for the company that are yet to be factored into the share price.
Emkay has placed a 'buy' rating on the stock and a target of Rs 20,000, indicating a 23% upside over the previous close.
Read full story here.
Nifty Today: What F&O Cues Indicate
Nifty January futures up by 0.51% to 23,280 at a premium of 104 points.
Nifty January futures open interest down by 0.82%
Nifty Options Jan. 16 Expiry: Maximum call open interest at 24,000 and maximum put open interest at 23,000
Securities in ban period: AARTI Industries, Angle One, Bandhan Bank, Hindustan Copper, L&T Finance, RBL Bank.
Dollar Check
The US Dollar index is up 0.09% at 109.28.
Euro was down 0.09% at 1.0299
Pound was down 0.16% at 1.2194
Yen was flat at 157.93
Stock Market News Live: Global Check
All three main US stock market indices ended mixed on Tuesday, with the Dow Jones Industrial Average closed 0.52% higher. The S&P 500 rose 0.11% and the Nasdaq Composite lost 0.23%. Brent crude was trading 0.01% lower at $79.91 a barrel as of 7:45 a.m. IST. Gold spot was trading 0.16% lower at $2,673.17 an ounce.
Stocks in the Asia-Pacific region advanced on Wednesday following a muted Wall Street session as traders awaited further cues from the upcoming key inflation data.
Australia's S&P/ASX 200 opened higher with the benchmark index advancing by 0.30%, or 25 points, to 8,255 as of 6:26 a.m. Japan's Nikkei was up 76 points, or 0.20% at 38,508.
Future contracts in Mainland China were to a negative start, while those in the US rose in early trade on Tuesday. Meanwhile, benchmark indices in China and India are seeing their worst start to a year since 2016.
Stock Market News Live: GIFT Nifty Below 23,300
The GIFT Nifty was trading below 23,300 early Wednesday. The futures contract based on the benchmark Nifty 50 was down 0.3% at 23,297 as of 7:24 a.m.
The Indian equities ended higher on Wednesday, snapping a four-day declining streak. The Nifty 50 ended 121.65 points or 0.53% higher at 23,207.60, and the Sensex ended 169.62 points or 0.22% higher at 76,499.63.
During the session, the Nifty 50 rose 0.78% to the day's high of 23,264.95. The Sensex rose 0.66% to 76,835.61.
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