Consumer Durables News

sensex today: Stock Market Highlights: Nifty forms long bear candle. What traders should do on Thursday


Stock Market Highlights: While negating the higher low formation of the last four trading sessions, headline equity index Nifty today formed a long bear candle on the daily charts and indicated a downside breakout of the recent sideways range movement in the market.

Now, it has to hold 18018 zones for an up move towards 18181 and 18250 zones whereas support exists at 17950 then 17777 zones, said Chandan Taparia of Motilal Oswal.

India VIX was up by 5.68% from 14.38 to 15.19 levels. Volatility spiked today paving way for bears in the market.

Option data suggests a broader trading range in between 17800 to 18500 zones while an immediate trading range in between 17900 to 18250 zones.

!1 New UpdateClick here for latest updates

Coinbase settles with New York regulators for $100 million: NYT

US-based cryptocurrency exchange Coinbase Global has reached a $100 million settlement with New York regulators, the New York Times reported on Wednesday.

State financial regulators found the company had allowed customers to “open accounts without conducting sufficient background checks, in violation of anti-money-laundering laws,” prompting a $50 million fine, the Times said. Another $50 million will be required to boost compliance efforts aimed at blocking potential criminals from using the exchange, it reported.

Fed meeting minutes may point to rate-hike endgame, new debate phase

The Federal Reserve ended 2022 with a firm promise at its December policy meeting that interest rates would continue rising this year, but at a slower pace and perhaps only by another three-quarters of a percentage point.

That session’s readout, due to be released at 2 p.m. EST (1900 GMT) on Wednesday, may provide further insight into just how the endgame of the current tightening cycle will play out, and how deeply Fed officials are beginning to weigh risks to economic growth against their top-of-mind concern about inflation.

The overall tone of the minutes is still likely to show inflation has top billing among policymakers. It has been slowing for several months, but as of November the Fed’s preferred inflation gauge – the personal consumption expenditures price index – was still rising at a 5.5% annual rate, more than twice the U.S. central bank’s 2% target.

Bajaj Finance says Dec-qtr deposit book at about Rs 43,000 crore, up 41% Y/Y

* New Loans booked during Q3 at 78 lakh versus 74 lakh last year

* Assets under management grew 27% to about Rs 2.31 lakh crore as of Dec 31

* Capital adequacy ratio of about 25.1% in Q3

* DEPOSIT BOOK AT ABOUT 430 BLN RUPEES AS OF 31 DEC 2022, YOY GROWTH OF 41%

Irb Infrastructure Developers approved alteration in capital of company by split of shares in ratio 1:10

NTPC and HPCL sign memorandum of understanding (MoU) for renewable energy business and green power.

Tech View: Nifty forms long bear candle. What traders should do on Thursday

While negating the higher low formation of the last four trading sessions, headline equity index Nifty today formed a long bear candle on the daily charts and indicated a downside breakout of the recent sideways range movement in the market.

Now, it has to hold 18018 zones for an up move towards 18181 and 18250 zones whereas support exists at 17950 then 17777 zones, said Chandan Taparia of Motilal Oswal.

India VIX was up by 5.68% from 14.38 to 15.19 levels. Volatility spiked today paving way for bears in the market.

Option data suggests a broader trading range in between 17800 to 18500 zones while an immediate trading range in between 17900 to 18250 zones.

Bears remained at the helm, taking the benchmark Nifty about 190 points lower from the previous closing. On the 4-hourly chart, the index has given an upward consolidation breakdown; besides, the shorter moving average (21 EMA) finished the day lower than the longer moving average (50 EMA), confirming the bearish scenario. With the momentum indicator RSI (14) remaining in a bearish crossover, the trend and momentum of the price suggest a rise in bearish bets in the market. Further declines are possible in the future that may bring the index down to 17,950. Again, below 17,950, the index may slip to 17,800 and lower. On the higher end, 18,155–18,200 may act as immediate resistance, above which the bulls may gain strength.

– Rupak De, Senior Technical Analyst at LKP Securities

The domestic market affected by the worries in the global market, traded with deep cuts. Fears over aggressive rate hikes resurfaced ahead of the release of Fed meeting minutes, a meeting that left the door open for additional hikes. Apart from global cues, the domestic market will pay close attention to corporate earnings. India’s services PMI expanded to 58.5 in December owing to stronger growth in new business.

– Vinod Nair, Head of Research at Geojit Financial Services

Consensus long positioning in Financials names ahead of potentially strong 3Q earnings season is evident from tepid reactions to reasonably strong business updates from all financial institutions which have reported preliminary business updates until now. As a result, the bar for upside surprises in earnings reports is likely to be higher. With much of global investors’ focus being drawn to the ongoing re-opening of Chinese economy, India is expected to see relatively muted flows in the coming month. Moreover, any spike in commodities prices may be a potential headwind to earnings going ahead. Channel checks across categories point to relatively weak demand in entry level consumer durables and autos – hence, these segments are expected to report weak numbers. IT stocks would be watched for commentary on demand trends as consensus currently expects only a mild moderation of growth trajectory. Railways and Infra sectors have historically performed well in the lead-up to Union Budget and this trend is expected to continue.

– Mr. S Hariharan, Head Institutional Equity Sales, Emkay Global Financial Services.

Market at Close: The benchmark BSE Sensex fell 636.75 points, or 1.04%, to 60,657.45, while the broader NSE index lost 187.5 points, or 1.03%, to 18,045.05, as investors worried over rising COVID-19 cases in China and the Federal Reserve’s interest-rate hiking path. (Agencies)

Rupee ends up 0.09% at 82.8025 per U.S. Dollar; previous close 82.8800

Rupee ends up 0.09% at 82.8025 per U.S. Dollar; previous close 82.8800

Closing Bell: Sensex snaps 2-day rally, crashes 637 points; Nifty below 18,050; JSW Steel sheds 4%, Wipro 2%

Closing Bell: Sensex snaps 2-day rally, crashes 637 points; Nifty below 18,050; JSW Steel sheds 4%, Wipro 2%

Ritesh International to consider and approve new manufacturing facility for production of biofuel

Price as on 04 Jan, 2023 03:32 PM, Click on company names for their live prices.

Ashok Leyland’s Switch Mobility, JBM Auto and PMI Electro Mobility win government’s Rs 3000 crore e-bus tenders: Sources

Price as on 04 Jan, 2023 03:02 PM, Click on company names for their live prices.

AU Small Finance Bank Dec qtr gross advances up 7% Q/Q

* Total deposits at Rs 61,101 crore as of Dec 31, up 5% Q/Q

* Gross advances for the quarter at Rs 56,335 crore, up 7% Q/Q

AU Small Finance Bank Dec qtr gross advances up 7% Q/Q

HDFC Bank advances grew 19.5% YoY as of December 31

Deposits grew 19.9% Y/Y
Deposits aggregated to about Rs 17.34 lakh crore as of Dec 31, up 19.9%
Retail deposits increased by around Rs 67,000 crore during the quarter
Wholesale deposits grew by around 11.5% YOY

HDFC Bank advances grew 19.5% YoY as of December 31

Nexus Venture eyes $700 million fund to bet on India, US tech startups

Nexus Venture Partners is in advanced talks to raise a $700 million fund, the second-biggest such pool to be garnered in India in the past year, to invest in domestic and U.S.-based technology firms, two sources with direct knowledge said.

The planned fund raising, which one of the sources said will close within two months, is an indication that investors may be starting to get more comfortable with Indian technology company valuations after the poor market performance in 2022 of some high-flying startups and amid a global tech sector rout.

It would also expand the pool of funds available to startups, at a time when fundraising by Indian startups fell by a third last year to $24 billion, Venture Intelligence data showed.

Nexus Venture eyes $700 million fund to bet on India, US tech startups

Adani plans strategy tweak to enter 5G battlefield dominated by Ambani

Adani Group’s chairman Gautam Adani has been planning to roll out an enterprise 5G services and consumer apps this year, according to a TOI report.

As the Indian industrialist looks to expand his business outside the country, he will be focusing on building AI-ML (artificial intelligence & machine learning) and industrial cloud capabilities, and expanding data centres.

BLOCK DEAL IN TATA MOTORS: 14.5 lakh shares change hands

Price as on 04 Jan, 2023 02:05 PM, Click on company names for their live prices.

These 5 real estate stocks fall over 2%

Price as on 04 Jan, 2023 01:31 PM, Click on company names for their live prices.

Japan’s Nikkei tracks Wall St weakness to end at near 10-month low

Japan’s Nikkei share average closed at its lowest level in almost 10 months in the first trading session of 2023, tracking Wall Street’s weak finish overnight, while the yen’s strength against the dollar also weighed on sentiment.
The Nikkei fell 1.45% to 25,716.86 on Wednesday, its lowest close since March 15. The broader Topix lost 1.25% to 1,868.15.

Wall Street’s main indexes closed lower overnight, while investors worried about the U.S. Federal Reserve’s interest-rate hike path as they awaited minutes from its December policy meeting.

In Japan, clothing brand Uniqlo’s owner Fast Retailing lost 1.24%, dragging the Nikkei the most, while chip related Advantest and Tokyo Electron fell 2.48% and 1.21%, respectively.

R.P.P Infra Projects wins a new order worth Rs 104.55 crore.

Price as on 04 Jan, 2023 12:41 PM, Click on company names for their live prices.

These stocks decline the most in trade today

Price as on 04 Jan, 2023 12:32 PM, Click on company names for their live prices.

SENSEX TANKS 600 POINTS: These stocks emerge as biggest drags

SENSEX TANKS 600 POINTS: These stocks emerge as biggest drags

Anupam Rasayan India restarts operations in plant at Sachin Gidc

  • Restarted operations in one plant at Sachin Gidc
  • Plant was closed after Sept. 10 fire incident
  • Shall be able to restart other plant soon

Only 5 Sensex stocks trade in the green in late morning trade

Only 5 Sensex stocks trade in the green in late morning trade

HDFC Bank Q3 update: Retail deposits increased by ~ Rs 67,000 cr during Q3

Market LIVE Updates: These PSU bank stocks tank up to 2% in trade today

Price as on 04 Jan, 2023 11:28 AM, Click on company names for their live prices.

Market live updates: Nifty at 18,110; all sectoral indices trade in the red

Market live updates: Nifty at 18,110; all sectoral indices trade in the red

Orient Cement clarifies on Adani stake purchase buzz

Orient Cement clarifies on Adani stake purchase buzz

Market Live Updates: Sensex slumps 400 pts

Market Live Updates: Sensex slumps 400 pts

Ambuja Cements incorporated a wholly owned subsidiary company in the name of ‘Ambuja Shipping Services Ltd.’

Price as on 04 Jan, 2023 10:56 AM, Click on company names for their live prices.

Aurobindo Pharma’s subsidiary Eugia Pharma Specialities receives USFDA approval for Azacitidine for Injection.

Price as on 04 Jan, 2023 10:52 AM, Click on company names for their live prices.

Shares of Equitas Small Finance Bank rallied over 7% to hit a 52-week high of Rs 63.9 in Wednesday’s intraday trade on BSE after the Reserve Bank of India (RBI) approved a proposal of SBI Funds Management to acquire 9.99% equity shares in the bank through various schemes managed by it. Equitas SFB in a BSE filing said that the RBI has allowed SBI Funds Management to acquire shares up to 9.99% of the paid-up equity capital of the bank, subject to various regulations of SEBI and RBI.

Price as on 04 Jan, 2023 10:47 AM, Click on company names for their live prices.

STOCK IN FOCUS: YES BANK

Services growth at 6-month high on robust demand – PMI

  • India’s services industry saw activity increase at the fastest pace in six months during the final month of 2022 amid robust demand, fuelling business optimism despite high costs, a private-sector survey showed.

  • The S&P Global India services purchasing managers’ index (PMI) rose to 58.5 in December from 56.4 in the previous month, confounding expectation in a Reuters poll for a fall to 55.5.

  • The index was above the 50-mark separating growth from contraction for the 17th straight month – the longest stretch of growth since June 2013.

Reliance Consumer Products Limited, the FMCG arm of Reliance Retail Ventures Ltd, will acquire 50% stake in Gujarat-headquartered Sosyo Hajoori Beverages Private Limited (SHBPL), which owns and operates beverage business under the flagship brand ‘Sosyo’.

Price as on 04 Jan, 2023 10:16 AM, Click on company names for their live prices.

Avenue Supermarts said its revenue growth in the quarter ended December slowed down on a sequential basis, eventhough the company posted a double-digit rise in the topline. The company, which operates D-Mart chain of supermarkets, saw revenue rising 25% year-on-year (YoY) in Oct-Dec to Rs 11,305 crore, according to the provisional figures.

Price as on 04 Jan, 2023 10:14 AM, Click on company names for their live prices.

Allcargo Logistics up in today’s trading session after brokerage house Jefferies initiates coverage on the stock with a ‘Buy’ rating

Radiant Cash Management lists at 10% premium to IPO price

Radiant Cash Management Services Limited made a decent debut on the bourses on Wednesday. The stock listed at Rs 103 on the National Stock Exchange, a premium of 9.57% compared to the issue price of Rs 94 per share. Meanwhile, on BSE, the stock debuted at a premium of 5.64% at Rs Rs 99.30.

Market live updates: Metal pack crashes over 1.5%; check out the top losers from the sector

Price as on 04 Jan, 2023 09:51 AM, Click on company names for their live prices.

Though the moves yesterday lacked the momentum to go all the way to our objective of 18,400, positive bias prevailed. Similar trend is expected today as well with 18,400 continuing to be in sight. Alternate scenarios see consolidation inside the 18,250-150 region, with downside marker placed 18,000, until which, the fears of a 17,500 plunge will be on hold.

– Anand James – Chief Market Strategist at Geojit Financial Services

A significant recent market trend is the disconnect between US and Indian markets. On many days the Indian market has closed positively after negative closing in US markets. The fundamental reason for this disconnect is the resilience of the Indian economy even in the context of a sharp slowdown in global growth expected this year. This disconnect is likely to continue since data indicates continuation of the Indian economy’s outperformance. Latest data on credit growth from HDFC and IndusInd bank is impressive and augurs well for banking stocks. The data of air travel reaching pre-Covid levels indicates robust economic activity. The decline in US 10-year bond yield to 3.75 % and Brent declining to $82 are positives for India. India’s outperformance in the economy and markets is set to continue, but concerns of US recession and high valuations will put a cap on the upside.

– Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

Japan’s Nikkei hits over 3-month low tracking subdued Wall Street

Japan’s Nikkei share average hit a more than three-month low on the first day of trading session of 2023 on Wednesday, tracking Wall Street’s weak finish overnight, while the yen’s strength against the dollar also weighed on sentiment. The Nikkei lost 1.42% to 25,742.66 by the midday break, its lowest level since Oct. 3. The broader Topix lost 1.02% to 1,872.43. Wall Street’s main indexes closed lower overnight with the biggest drags from Tesla and Apple, while investors worried about the U.S. Federal Reserve’s interest-rate hiking path as they awaited minutes from its December policy meeting. In Japan, clothing brand Uniqlo’s owner Fast Retailing lost 2.11% , dragging the Nikkei the most, while chip testing equipment maker Advantest fell 2.24%. Drugmakers Daiichi Sankyo tanked 5.69% and Eisai slipped 6.31%.

Market LIVE Updates: Opening Movers

Price as on 04 Jan, 2023 09:24 AM, Click on company names for their live prices.

Market LIVE Updates: ICRA and CRISIL enhances commercial paper limits of Godrej Properties to Rs1750 crore.

Price as on 04 Jan, 2023 09:22 AM, Click on company names for their live prices.

Rupee opens up 0.05% at 82.8400 per U.S. Dollar; previous close 82.8800

Rupee opens up 0.05% at 82.8400 per U.S. Dollar; previous close 82.8800

Opening Bell: Sensex flat, Nifty holds above 18,200, DMart falls 2%, IndusInd Bank rises 2%

Opening Bell: Sensex flat, Nifty holds above 18,200, DMart falls 2%, IndusInd Bank rises 2%

Pre-open session: Sensex slips 100 points; Nifty below 18,210

Rupee likely to edge higher on oil price tumble

The Indian rupee is expected to open higher against the dollar on Wednesday after oil prices plunged by the most in three months on concerns over demand. The rupee is likely to open at 82.80-82.82, compared with 82.88 in the previous session. On the interbank order matching system, the rupee had fallen to 83.0650 after regular over-the-counter trading hours on Tuesday, and the 1-month USD/INR non-deliverable forward had climbed to near 83.20.

Asian equities mixed, dollar sways as focus firmly on Fed minutes

Asian equities were mixed on Wednesday, while the dollar was on the back foot after a steep spike overnight, with investors keenly awaiting minutes from the Federal Reserve’s most recent meeting to gauge the path forward for interest rates. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.91%, set for a third straight day of gains for the year. The index fell 20% in 2022. Japan’s Nikkei lost 1.12% in early trade, while Australia’s S&P/ASX 200 index rose 1.28%.

Oil steady after last session’s slump as Fed minutes awaited

Oil prices held their ground on Wednesday after tumbling in the previous session as markets braced for minutes from the U.S. Federal Reserve’s December policy meeting.

SGX Nifty signals a negative start

Nifty futures on the Singapore Exchange traded 53.5 points, or 0.29 per cent, lower at 18,252.50, signaling that Dalal Street was headed for a negative start on Wednesday.

Tech View: Nifty charts throw up green candle

After making higher lows for the last three trading sessions, Nifty on Tuesday formed a bullish candle on the daily charts.

Tokyo stocks open lower after US losses

Tokyo stocks opened lower Wednesday on the first trading day of the year, after Wall Street ended down, with investors eyeing the appreciation of the yen.The benchmark Nikkei 225 index dropped 1.60 percent, or 417.82 points, to 25,676.68 in early trade, while the broader Topix index lost 1.45 percent, or 27.37 points, to 1,864.34.

Wall Street starts the year with a dip; Apple, Tesla shares drag

Wall Street’s main indexes closed lower on the first trading day of 2023 with the biggest drags from Tesla and Apple, while investors worried about the Federal Reserve’s interest-rate hiking path as they awaited minutes from its December meeting.

Rupee tumbles 22 paise to all-time low of 83 against US dollar

The rupee pared initial gains and slumped 22 paise to close at its all-time low of 83 against the US dollar on Tuesday, pressured by a strong greenback overseas and sustained foreign fund outflows.

Sensex, Nifty on Tuesday

The Nifty50 index closed 35 points or 0.19% higher at 18,232, while the S&P BSE Sensex rose 126 or 0.21% to settle at 61,294 following lacklustre global cues.

Good morning, dear reader! Here’s something to kickstart your trading day

Good morning, dear reader! Here's something to kickstart your trading day





Source link