Sensex Today | Stock Market Live Updates: Sensex erases all losses, trades flat, Nifty below 22,100; IT index top sectoral loser

January 16, 2024

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11:40:08 AM IST, 16 January 2024

Sensex Today | Stock Market Live Updates: NBCC receives orders worth Rs. 138.95 crore from NavodayaVidyalaya Samit, and Insolvency and Bankruptcy Board of India.

11:34:01 AM IST, 16 January 2024

LTI Mindtree Q3FY24 earnings preview by Dhruv Mudaraddi, Research Analyst, StoxBox

We expect LTI Mindtree to post a moderation in revenue growth and register an increase of 0.5%-1% QoQ in Q3FY24. This subdued growth can be attributed to reduced number of working days and a higher-than-expected impact of furloughs, particularly in the BFSI and Hi-Tech verticals. However, the momentum in the manufacturing and energy verticals is expected to partially offset these challenges. Additionally, we expect a slight decline in margin, attributable to third-quarter seasonality, lower growth in the higher-margin BFSI/Hi-Tech verticals, and furloughs.

However, we anticipate these headwinds to be partially offset by operational efficiencies. As LTI Mindtree navigates these challenges, we will be looking out for the impact of wage hikes and macro headwinds on margin and guidance for FY24, commentary on client budgets and latest developments in the merger.

11:19:37 AM IST, 16 January 2024

Stock Market Live Updates | Maruti Suzuki announces price increase of 0.45% across all models

11:20:21 AM IST, 16 January 2024

Sensex Today | Stock Market Live Updates: L&T Construction’s railway business group awarded mega order worth Rs 10,000-15,000 crore to build electrification system works for the Mumbai Ahmedabad high speed rail project.

11:12:47 AM IST, 16 January 2024

Sensex Today | Stock Market Live Updates: PNC Infratech shares jumped 9% to Rs 4218 on BSE after the firm reported that it sold an equity stake in 12 road assets to Highways Infrastructure Trust (HIT), an infrastructure investment trust (InvIT) backed by private equity firm KKR.

11:00:07 AM IST, 16 January 2024

Wardwizard Innovations & Mobility Q3 Results: Co announces 81% YoY surge in EBITDA.

10:56:11 AM IST, 16 January 2024

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10:56:00 AM IST, 16 January 2024

Sensex Today | Stock Market Live Updates: Capri Global Capital Limited plans to develop an insurance platform to maximize the Corporate Agency License from IRDAI; stock soars 15%

10:38:36 AM IST, 16 January 2024

Sensex Live Updates | Sensex erases early losses, trades in green

10:20:08 AM IST, 16 January 2024

Suraj Estate Developers December qtr Results: 35.1% QoQ growth in EBITDA and 16.5% QoQ growth in PAT

10:17:04 AM IST, 16 January 2024

Sensex Today | Stock Market View: Shivani Nyati, Head of Wealth, Swastika Investmart on Jyoti CNC listing

Jyoti CNC Automation, the Indian leader in CNC machine manufacturing, made its debut on the stock market, listing at Rs 370 per share, an 11.8% premium over its issue price of Rs 331.

While Jyoti CNC’s strong brand presence and robust market share are undeniable, the financial concerns and hefty valuation necessitate a cautious approach.

Jyoti CNC’s listing debut was positive but overshadowed by concerns. Thus we recommend investors book profit and exit their position; however, those who still want to hold it should keep a stop loss at around issue price.

10:12:44 AM IST, 16 January 2024

Stock Market Live Updates: Epack Durable IPO price band set at Rs 218-230/share

Epack Durable has set the share price band for its upcoming initial public offering (IPO) at Rs 218-230 per share. The issue will open for subscription on January 19 and will be available for the public to bid till January 23.

10:12:09 AM IST, 16 January 2024

Stock Market Live Updates: Shares of Aster DM jumped over 12% and hit a 52-week high of Rs 449.70 on the NSE on Tuesday reacting to the company’s announcement of dividend to shareholders from the proceeds after the sale of majority stake in GCC (Gulf Cooperation Council) business.

10:02:00 AM IST, 16 January 2024

Shriram Finance to issue dollar denominated bonds: Bankers

India’s Shriram Finance plans to raise funds through U.S. dollar denominated bonds maturing in over three years, two merchant bankers said on Tuesday.

Fitch Ratings has given an expected rating of ‘BB(EXP)’ to the proposed dollar-denominated senior secured bonds.

Barclays, Deutsche Bank, HSBC, JP Morgan, Standard Chartered, BNP Paribas, Citigroup, DBS Bank and MUFG are among the lead managers for the issuance.

09:53:06 AM IST, 16 January 2024

Stock Market Live Updates: IN FOCUS | Shares of Federal Bank, HDFC Bank, ICICI Lombard and LTTS will be in focus today as the companies will announce their quarterly results.

09:51:00 AM IST, 16 January 2024

Sensex Today | Stock Market Live Updates: UBS initiated coverage on Paytm with a target price of Rs 900. Continued monetisation and EBITDA break-even are likely to drive re-rating. Paytm is a payment leader with strength across merchants and customers. EBITDA margin to gradually reach 20% and the valuation trades at a discount to global and Indian peers; stock rises 2%

09:46:27 AM IST, 16 January 2024

Rupee falls 11 paise to 82.97 against US dollar in early trade

09:35:44 AM IST, 16 January 2024

Sensex Today | Stock Market View: Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services

Nifty is now up three times from the Covid low of 7511 in March 2020. This is an indication of a strong bull market and it has a long way to go. But the rally from now on will not be smooth and sharp corrections are likely since valuations are high. What are the likely triggers for a correction? More often than not, unexpected events cause corrections. Geopolitical developments have the potential to trigger corrections. But recent geopolitical events like the Israel-Gaza war didn’t impact crude prices or markets. Similarly the skirmishes going on in the Red Sea also may pass without hurting the markets. But there can be a near-term concern that the conflict may widen. So watch out for the events in the Red Sea.

Large caps in banking and IT and RIL are likely to remain resilient even in a downturn. As a measure of abundant caution investors may consider booking some profits and moving the money to fixed income, where the returns are attractive.

09:31:00 AM IST, 16 January 2024

Stock Market Live Updates | Brokerage Radar: JP Morgan raises target price for RIL

09:28:33 AM IST, 16 January 2024

Sensex Today | Stock Market Live Updates | Earnings Impact: Jio Financial Services on Monday reported a 56% sequential fall in consolidated net profit for the quarter ended December 2023 to Rs 294 crore. Consolidated revenue from operations fell nearly 32% from the previous quarter to Rs 413.61 crore.

09:28:00 AM IST, 16 January 2024

Sensex Today | Stock Market Live Updates | Earnings Impact: Angel One on Monday reported a healthy set of numbers for the quarter ended December 2023, with the consolidated net profit rising 14.2% year-on-year (YoY) to Rs 260 crore. Revenue from operations rose 41.5% YoY to Rs 1,059 crore.

09:19:38 AM IST, 16 January 2024

Sensex Today | Stock Market Live Updates: Top movers in opening trade

09:19:09 AM IST, 16 January 2024

Opening Bell: Sensex drops 130 points, Nifty below 22,100; IRFC surges 12%, Wipro sheds 2%

09:10:03 AM IST, 16 January 2024

Sensex Today | Stock Market LIVE Updates: Pre-open session: Sensex up 5 points; Nifty above 22,080

09:05:10 AM IST, 16 January 2024

Stock Market LIVE Updates: Nova AgriTech announces IPO price band for upcoming Rs 144-crore offer

Nova AgriTech has set the price band for its upcoming initial public offer (IPO) at Rs 39-41 per share. The issue will open for subscription on January 22 and close on January 24.The floor price of the issue is 19.50 times the face value of the equity share while the cap price is 20.50 times the face value.

08:43:15 AM IST, 16 January 2024

Sensex Today | Stock Market View: Prashanth Tapse, Senior VP (Research), Mehta Equities

Wall Street remained closed for Martin Luther King Jr. Day, and Gift Nifty suggests a cautious start. Despite this, 2024 is shaping up to be a positive year for Dalal Street, with expectations of Nifty reaching a fresh record high supported by favorable economic and geopolitical factors. Bank Nifty is also anticipated to join the upward trend, targeting its all-time high at 48636. Positive catalysts include FIIs being net buyers, optimism about renewed Fed rate cuts, easing fears of stubborn US inflation, and a growing likelihood of a 25-basis-points interest rate cut in March. From a technical standpoint, Nifty is expected to have aggressive upside targets at 22500, while Bank Nifty is likely to outperform with targets at 48636. The Nifty options data indicates a trading range of 21300-21700. Q3 corporate earnings include HDFC Bank, ICICI Lombard, LTTS, Federal Bank, Bank of Maharashtra, ICICI Securities, Jindal Saw, and Network18. Preferred trades include buying Nifty at CMP with targets at 22151/22251 and Bank Nifty at CMP with targets at 48636. The chart of the day is bullish on INDIGO, APOLLO TYRES, MAZGAON DOCK, COFORGE, TATA POWER, and INDIAN BANK. CEINSYS TECH is recommended as a buy with a holding period of 12-15 months, targeting 500/589 and aggressive targets at 750, with a stop below 279.

08:17:39 AM IST, 16 January 2024

Sensex Today | Stock Market LIVE Updates: Stocks slide, dollar gains on rates outlook jitters

Asian shares dropped to a one-month low, U.S. stock futures fell and the dollar rose on Tuesday as hawkish remarks from central bankers tempered expectations for interest rate cuts and traders waited to hear from the Fed’s influential Christopher Waller.

08:16:54 AM IST, 16 January 2024

Sensex Today | Stock Market LIVE Updates: Gold slips as dollar, Treasury yields gain

Gold fell slightly on Tuesday as the U.S. dollar and Treasury yields jumped, with investors awaiting comments from a host of Federal Reserve speakers this week for more clarity on the central bank’s interest rate trajectory.

07:51:27 AM IST, 16 January 2024

Sensex Today | Stock Market LIVE Updates: Dollar advances as traders weigh rate cut expectations, eyes on data

The dollar was firm on Tuesday as investors assessed the chances of early and steep interest rate cuts from the Federal Reserve, ahead of a data-packed week that could influence major central banks’ thinking on monetary policy.

07:51:39 AM IST, 16 January 2024

Sensex Today | Stock Market LIVE Updates: Quarterly earnings today

Federal Bank, HDFC Bank, ICICI Lombard, LTTS and a slew of other companies will announce their third quarter results today.

07:51:48 AM IST, 16 January 2024

Sensex Today | Stock Market LIVE Updates: GIFT Nifty (Earlier SGX Nifty) signals a negative start

GIFT Nifty on the NSE IX traded lower by 44.5 points, or 0.20 per cent, at 22,099, signaling that Dalal Street was headed for negative start on Tuesday.

07:51:55 AM IST, 16 January 2024

Sensex Today | Stock Market LIVE Updates: Tech View: Nifty forms hammer candle on daily chart

Nifty today ended 203 points higher to end above the 22,000 mark for the first time ever and formed a hammer candlestick pattern on the daily chart. On the derivative front, the 21700PE strike added the highest open interest. With this, the supports are now dragged to the higher levels of 21700-21600 and sustenance above this zone on a closing basis will aid in garnering further bullish strength, StoxBox said.

07:52:02 AM IST, 16 January 2024

Sensex Today | Stock Market LIVE Updates: Rupee rises 9 paise against US dollar

The rupee strengthened for the ninth consecutive session to settle with a gain of 9 paise to 82.86 against the US dollar on Monday, driven by a rally in the domestic equity markets and fresh foreign fund inflows.

07:52:08 AM IST, 16 January 2024

Sensex Today | Stock Market LIVE Updates: Oil ticks up as Middle East crisis escalates, tankers divert

Oil prices edged slightly higher on Tuesday as the Middle East crisis escalated and ship tracking data showed more tankers altering course away from the Red Sea in response to attacks in the area by Yemen’s Houthi movement.

07:52:15 AM IST, 16 January 2024

Sensex Today | Stock Market LIVE Updates: Sensex, Nifty on Monday

The BSE Sensex advanced 759 points or 1.05% to settle at 73,328, while NSE Nifty surged 202 points or 0.93% to end at 22,097.

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