MARKETS: Sensex down 450 pts, Nifty holds 17,600; Auto stocks outperform



at 12 noon

LIVE market updates: The benchmark indices remained under broad-based selling amid high volatility. The was down 454 points at 59,011, while the was at 17,622, lower by 135 points. The two were down by 0.75 per cent.






The broader markets, meanwhile, continued to underperform the benchmarks. The MidCap index was steadily lower by 1 per cent and the SmallCap index was down 0.7 per cent.

Barring auto and FMCG indices, the rest were in the negative territory. The Auto index was up 0.8 per cent led by gains in Bajaj Auto, Maruti, TVS Motor, Hero MotoCorp and Eicher Motors, up between 0.5-4 per cent.

ALSO READ: ICICI Bank to report Q3 results on Jan 22; Here’s what brokerages expect

Among stocks, shares of Hitachi Energy India hit a record high of Rs 2,949, up 4 per cent on Friday in an otherwise weak market after the company won orders worth over Rs 160 crore for its key electric components to support the electrification of the country’s rail routes. READ MORE HERE.

Asian markets

Asian tumbled tracking declines on Wall Street overnight. Japan’s Nikkei 225 fell 0.9 per cent, while the Kospi was down 1 per cent. Hong Kong’s Hang Seng index was lower by 0.6 per cent and Shanghai index also fell 0.8 per cent. Meanwhile, oil prices too slipped from their 2014 highs earlier in the week, falling about 2 per cent.
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at 11 AM

LIVE market updates: The benchmark indices were holding significant losses in a highly subdued market. The was down 604 points at 58,860 and the was 187 points lower at 17,570.

The losses in the BSE benchmark were steady on the back of persistent selling pressure in Infosys and banking counters–ICICI Bank, Axis Bank, HDFC Bank and Bajaj Finserv. L&T, RIL, Bharti Airtel and Kotak Bank were also weighing on the index.

In the broader market, the BSE MidCap and SmallCap indices were also sharply lower by up to 1 per cent.

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In the primary market, the of was subscribed 1.58 times so far as of 11 am, with the retail investors portion subscribed 2.3 times.


Individually, shares of Zomato continued to wilt under selling pressure, as they slipped to an over five-month low at Rs 119.35, down 5 per cent on the BSE. The stock of the food delivery giant traded lower for the fourth straight day, and had shed 11 per cent during the period.READ MORE.


Further, state-owned Container Corporation of India was down 5 per cent on the BSE as investors seemed unimpressed with the company’s On Thursday, it reported a 24.46 per cent rise on-year in its consolidated net profit to Rs 276.35 crore.

On the flip side, biopharma company Biocon was up over 2 per cent on strong Q3 numbers. The company posted a 17.68 per cent increase in consolidated net profit at Rs 219.6 crore.
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Markets at 10 AM

LIVE market updates: The benchmark indices made a sharp recovery in early morning trade after starting the session with heavy losses. The BSE was now at 59,180, down 284 points. This was nearly 500 points higher from its day’s low. The Nifty, on the other hand, was at 18,670, lower by 86 points.

The indices were seen recouping losses on the back of buying in FMCG major HUL(up 2 per cent), HDFC, TCS, ITC (up nearly 0,5 per cent each), and PowerGrid (up 1.6 per cent).

On the Nifty, Hindalco, Bajaj Auto, Tata Comsumer Hero MotoCorp were the additonal gainers. Meanwhile, the top losers were Bajaj finserv, Tech M Coal India, Divis Labs, Dr Reddy’s, Adani Ports, Axis Bank, Kotak Bank, and Shree Cement.


Sectorally, auto and FMCG were the only gainers on the Nifty wherein the latter was supported by gains in HUL and Asian Paints on the back of their strong

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That apart, among stocks, shares of Shoppers Stop hit a 52-week high of Rs 420, on surging 16 per cent on the BSE after the company reported a strong operational performance with earnings before interest, taxes, depreciation, and amortization (ebitda) margins improving by 580 bps year-on-year to 19.2 per cent in December quarter. READ MORE.


Consumer electrical goods maker Havells India was trading 2.5 per cent lower on the exchange after it reported a decline of 12.7 per cent in its consolidated net profit to Rs 305.82 crore on Thursday for the December quarter. Its revenue from operations was up 15.4 per cent at Rs 3,664.21 crore from last year.

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Opening Bell


LIVE market updates: In tandem with weak global cues, the benchmark indices opened on a sharply negative note and were down up to 0.9 per cent as they extended losses for a fourth session. The BSE Sensex was down 544 pointsat 58,919 and the NSE Nifty was 156 points lower at 17,600.


In the broader market, the BSE MidCap and SmallCap indices were also in red and were down up to 0.7 per cent.


Among the Sensex-30 constituents, Tech M, Bajaj Finserv, Dr Reddy’s, Bajaj Finance, Wipro, IndusInd Bank, Infosys, Axis Bank, Tata Steel, Titan, Kotak Bank, SBI and HCL Tech were the top losers.

HUL, PowerGrid, NTPC and Asian Paints were the sole gainers on the Sensex. On the Nifty, BPCL was the additonal gainer. All other shares were trading in red.

Sectorally, all indices were in the red zone too led by losses in Nifty Realty and PSUs, down 2 per cent each, followed by Banks, IT, Pharma, Consumer durables and metals, all lower by over a per cent each.

Among stocks, Shopper’s Stop was the top BSE gainer, up 15 per cent. Tata Elxsi, Persistent Systems, Triveni Turbine, HLE Glasscoat, Cosmo Films were the other top gainers. On the other hand, Hindustan Oil Exploration, Agro Tech foods, and Kesoram were the top losers.


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Pre-open session

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LIVE market updates: The benchmark indices were holding losses in pre-open trades. The BSE Sensex was down 300 points at 59,164, while the NSE Nifty was 126 points lower at 17,630.


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LIVE market updates:

The key benchmark indices are likely to open lower extending losses for a fourth session on Friday amid weak global cues and persistent selling by FIIs. At 08:00 AM, the futures quoted 17,675 level, indicating a gap-down of over 100 points on the Nifty 50 index.


In the last two trading sessions, the FIIs have stepped up the selling pressure and net sold stocks worth Rs 7,385 crore in the cash segment, thus taking the withdrawal tally to Rs 12,415 crore in the month so far. READ MORE


Moreover, individual stocks that are likely to be in focus -include Reliance Industries, Bandhan Bank, HDFC Life, Hindustan Zinc, Vodafone Idea, JSW Steel, among others as these companies announce December quarter results today.


In the primary market, today is the last day for subscribing to the of AGS Transact. The issue so far has been subscribed 1.42 times, with retail quota subscribed up to 2.1 times.


Global cues


Overnight in the US, stocks reversed course to end sharply lower amid fears of a tighter monetary policy. The key indices were up more than a per cent in early trade, but eventually Dow Jones ended 0.9 per cent lower, the S&P 500 slipped 1.1 per cent and Nasdaq declined 1.3 per cent. Investors will be looking for cues from the US Fed meeting next week for the likely timeline on rate hikes.


Key markets in Asia too were in a sea of red despite China cutting lending rates for the first time in two years and increasing monetary stimulus. Nikkei had shed 1.6 per cent. Kospi and Taiwan also declined over a per cent each. Hang Seng, Shanghai and Straits Times were down 0.3-0.5 per cent each.





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