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    Stock Market Highlights: Sensex ends 673 points higher, Nifty reclaims 17,800; NTPC surges 6%, SBI 3%

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    Stock Market Highlights: Sensex ends 673 points higher, Nifty reclaims 17,800; NTPC surges 6%, SBI 3%

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    Indian equity benchmarks Sensex and Nifty50 extended gains to the third day in a row on Tuesday. Buying interest in financial, oil & gas and IT shares pushed the headline indices higher. However, selling pressure in healthcare and metal stocks limited the upside. Volatility persisted in the market amid concerns around the increasing cases of the Omicron variant of COVID-19. Broader markets strengthened, with the Nifty Midcap 100 and Smallcap 100 indices finishing 0.3 percent higher each.

    Stock Market Highlights: Sensex ends 673 points higher, Nifty reclaims 17,800; NTPC surges 6%, SBI 3%
    • Thank you, readers! That's all from CNBC-TV18.com's live market coverage on January 4, 2022. Stay tuned for other updates on our website: CNBCTV18.com.

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    • Any decline in Nifty50 towards 17,650-17,700 a buying opportunity: Manish Shah

      Independent technical analyst Manish Shah thinks any decline in the Nifty50 towards 17,650-17,700 levels will be a buying opportunity. "The Nifty has seen a sharp rally and the current upmove is a bit extended. There is a chance that Nifty might see a couple of days of correction and a decline towards 17,600-17,650 levels," he said.

      If it breaks and holds above 17,880, the move should continue towards 18,200-18,250 levels, he said. 

      "MACD is in a buy mode and RSI is on the verge of breaking above 60. The directional movement indicator has also seen a bullish crossover. The Nifty is on a roll and we are seeing a confirmed breakout above 17,650-17,700 levels. Notwithstanding the short-term decline, we do expect the Nifty to move towards 18,200-18,250 over the next few days," Shah added. 

    • Market to continue to rise unless negative news: Equity99's Rahul Sharma 

      Rahul Sharma of Equity99 Advisors expects the market to continue to rise unless there is negative news. "The Omicron tally has been increasing at a very fast pace across globe... COVID cases are also on the rise in India. Investors are advised to be cautious, and should not over invest in the short term," he said. 

      He sees crucial resistance for the Nifty at 17,890, which, if crossed, might even take the index to 17,980-18,000 levels. "On the lower side, 17,640 will act as next good support, which, if broken, might lead to 17,580," he said. 

      He expects sugar, metal, banking and realty shares to be in focus on Dalal Street now. 

    • TCS shares to touch Rs 5,000 level, expect 25% upside in Nifty IT in 2022: All Star Charts’ JC Parets

      JC Parets of All Star Charts told CNBC-TV18 the Nifty IT can have a great year in 2022. He sees potential for another 20-25 percent upside for the IT index.

      Parets expects 40-45 percent upside in TCS shares. If TCS is above Rs 3,500 per share, one can own it, he said. (Read more on the IT pack)

    • Rupee ends lower at 74.55 against US dollar

      The rupee depreciated by 29 paise to settle at 74.55 against the greenback.

      Stock Market Highlights: Sensex ends 673 points higher, Nifty reclaims 17,800; NTPC surges 6%, SBI 3%
    • Pharma stocks bottomed out in August or September: Mehraboon J Irani

      Market expert Mehraboon J Irani is of the view that pharma stocks bottomed out in August or September. "I've never been a great fan of the pharma space but at the levels they are, I personally believe that upside now is more than downside despite the US business not doing well for most of the Indian companies, which have a large share of their revenues coming from the US," he said. In Wockhardt, he sees a bigger possibility of upside than any further downside from the current levels.

    • See no reason why earnings will be bad: Anand Tandon

      Market expert Anand Tandon is positive on the coming earnings season. "This year, I think more or less you will get 30 percent plus kind of earnings growth. The question really is whether the base effect has worn off this year. Right now, analysts are reasonably bullish," he said. 

      "As we enter the next year, you will start to see some kind of tapering of earnings, much like we have seen in most years other than the last, simply because of the fact that we are assuming again another 25 percent kind of earnings growth, which to my mind is unlikely. You will either get a very sharp hike in inflation or you will have to have lowering of the earnings estimate. From that point of view, caution is required," he added.

    • Nifty is poised to test 18,000: Sharekhan's Gaurav Ratnaparkhi

      Gaurav Ratnaparkhi, Head of Technical Research at Sharekhan by BNP Paribas, believes the Nifty50 is looking to extend its run beyond the 61.8 percent retracement level of the entire October-December decline. "The Nifty is poised to test 18,000 on the upside. The hourly chart shows that the upper end of a rising channel is also present near the 18,000 mark. Over there, the Nifty is likely to consolidate its recent gains. On the flipside, the short-term support zone shifts higher along with the key hourly moving averages and the lower channel line. It currently stands near 17,600-17,500," he said. 

    • Don't think COVID going to be determining factor for market: Anand Tandon

      Market expert Anand Tandon is of the view that COVID is not going to be the determining factor for the market at least from whatever is known so far. "I would assume that the governments will not ask for a lockdown. So other than places where you need to actually go out and be in the public, by and large, the economy should continue," he said. 

    • Dividend key trigger for Hinduja Global Solutions stock: Mehraboon J Irani

      Market expert Mehraboon J Irani believes a key trigger for Hinduja Global Solutions shares is dividend. "I am personally holding the stock for quite some years. As far as the dividend goes, I have been honestly very disappointed with the payout the company has been giving for the last many years. I think this bumper dividend I have been possibly expecting for the last at least a couple of months. Let's see what the numbers are," he said. 

      There is also a proposal for an issue of ownership, he said. "As far as the balance sheet of Hinduja Global goes, there's absolutely no complaint. I think it's a small equity company with promoters owning nearly 68 or 69 percent, and earnings per share of around Rs 160; there are many ways in which one can justify the current share price. The share price has gone up by Rs 400-500 in the last couple of days after the announcement of a dividend meeting and the hope of a bumper dividend... I will be surprised if the Street gets disappointed, or it could be possibly a very high figure. I think a market cap of just Rs 7,600 crore - so all said and done, at the current price, this is not a stock which you and I discuss easily... The trigger for this will be the dividend, what the amount will be, whether the Street will be disappointed, or it will feel nice about it, and possibly the bonus issue... So, this is a stock which one buys and keeps on holding on to it knowing that the balance sheet is very healthy. It is not a stock which one should possibly be trying to preempt as to what the dividend will be. If somebody wants to keep the dividend, I think he can expect another decent dividend coming next year also," he added.

    • Still a lot of value in Tata Motors: Mehraboon J Irani

      Market expert Mehraboon J Irani believes there is still a lot of value in Tata Motors. "We need to understand that they have taken a very assertive stance and are ahead as far as the EV business goes. Even if you look at the PV business, it is getting a very high valuation. We need to understand that in the PV business, the company is always focused on SUVs, and the new product pipeline should have Tata Motors gain a little bit of market share," he said.

      "Coming to the CV business, it should benefit from the cyclical upturn, which I personally believe is happening at the moment. All said and done, the stock has been moving sideways between Rs 550 and Rs 450. And I think at the lower range right now, if the stock corrects maybe 3-4 percent, it could qualify as a fresh 'buy'. This is my personal view with clear disclosures I am personally holding this stock," Irani added.

      Tata Motors is among the biggest wealth creators of 2021. Check out the complete list of top performers of the year gone by here

    • Indian market following global counterparts, domestic factors showing mixed indications: Ajit Mishra

      Ajit Mishra, VP-Research at Religare Broking, believes the Indian market is currently following its global counterparts while domestic factors are showing mixed indications. "Besides, the earnings season is also around the corner and it seems that participants are expecting a positive trend. Apart from the banking majors, the rotational buying in the index heavyweights from the other sectors is helping the index higher," he said.

      Mishra believes the next hurdle for the index is at the 18,000 mark, and a cushion at 17,600 in case of any dip. "We would advise aligning positions according to the trend," he said. 

    • Buy Bajaj Auto, Hero MotoCorp on pullbacks: Sushil Kedia 

      Sushil Kedia, Founder of Kedianomics, suggests buying Bajaj Auto and Hero MotoCorp shares on any pullback. "They have had a deep correction and people are underestimating the potential of the move that is visible on the charts on both Hero MotoCorp and Bajaj Auto,” he said. 

      “While the regular banks are all looking very good and on pullbacks, they may again be a 'buy' but the table thumping kind of big moves are likely in real laggards like DCB and Bank of Baroda. Both of them look like they can move up 50 percent from here,” he added.

    • Market At Close | Sensex, Nifty50 rise for 3rd straight day

      Here are some highlights: 

      --Midcap index up 82 points after slipping into the red at midday

      --Voltas, Torrent Power, Federal Bank, Adani Enterprises top midcap gainers 

      --Reliance, HDFC lift Nifty in last hour of trade

      --Tata Motors top index loser after CLSA downgrades stock to ‘sell’

      --PSUs top index gainers; NTPC, PowerGrid, ONGC, SBI lead

      --IRCON rises after company emerges lowest bidder for Rs 861-crore NHAI project

      --Sugar stocks surge; Balrampur Chini, EID Parry gain 8-10% 

      --Marico off lows but pre-Q3 update keeps stock in the red, down 2%

      --Market breadth remains in favour of bulls; advance-decline ratio at 4:3

      Disclaimer: Network18, the parent company of CNBCTV18.com, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.

    • Market At Close | NTPC, ONGC, SBI, Power Grid top blue-chip gainers

      On the other hand, Tata Motors, Coal India, Tata Consumer, Sun Pharma and Shree Cement were the worst hit among the 15 laggards in the Nifty50 pack. 

      Here's how the 30-scrip Sensex basket fared:

      Stock Market Highlights: Sensex ends 673 points higher, Nifty reclaims 17,800; NTPC surges 6%, SBI 3%
    • Stock Market Highlights: Sensex ends 673 points higher, Nifty reclaims 17,800; NTPC surges 6%, SBI 3%
    • Closing Bell | Sensex up 673 points at 59,856, Nifty reclaims 17,800 as market extends gains to third straight day

      The 30-scrip index rose 672.7 points or 1.1 percent to end at 59,855.9, and the broader Nifty50 benchmark settled at 17,805.3, up 179.6 points from its previous close. Gains in financial, oil & gas and IT shares pushed the headline indices higher, though losses in pharma stocks limited the upside. (Read more on the closing bell)

    • CARE upgrades JSL (Hisar) long-term rating with 'stable' outlook

      Ratings agency CARE has upgraded the long-term rating for JSL (Hisar) to 'AA-' from 'A+'.

      Jindal Stainless (Hisar) shares were down 1.1 percent at Rs 362 apiece in the final minutes of the session.

    • Business Update | RateGain Q3 best quarter in terms of new contract wins

      RateGain said the third quarter of FY22 was the best for it in terms of new contract wins. 

      The customer count increased to 2,264 in Q3, from 1,462 as of August 31, 2021, it said. 

      RateGain shares were up 2.7 percent at Rs 384.4 apiece on BSE minutes before the closing bell. 

    • IRCON emerges lowest bidder for Rs 861-crore NHAI project in Uttarakhand

      IRCON shares were up 1.5 percent at Rs 46.1 apiece on BSE minutes before the closing bell.

    • Reliance Industries, HDFC, TCS, ICICI Bank top Sensex movers

      Stocks such as SBI, Kotak Mahindra Bank, HUL and NTPC were also among the top contributors to the gain in the 30-scrip index. 

      Disclaimer: Network18, the parent company of CNBCTV18.com, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.

      Stock Market Highlights: Sensex ends 673 points higher, Nifty reclaims 17,800; NTPC surges 6%, SBI 3%
    • Will apply to NCLT for completing merger with Exide Life: HDFC Life Insurance
       
      HDFC Life Insurance acquired 100 percent equity shares of Exide Life, making the latter its fully owned subsidiary company. Niraj Shah, CFO of HDFC Life Insurance, told CNBC-TV18 the company has concluded the first steps of its transaction with Exide Life. (Read more)
       
      At 3:00 pm, HDFC Life shares were barely up at Rs 651.5 apiece on BSE. 
    • Rural demand hit by continuing inflation, don’t see adverse impact on margin: Emami

      In an interview to CNBC-TV18, Harsha Vardhan Agarwal, Director at Emami, said the company has seen strong demand globally since June 2021. However, there’s been a slight slowdown in rural demand, he said. 

      “The situation is much better and the kind of growth that we saw for the last one-and-a-half year, there might be certain challenges going forward because of inflation,” he said. (Read more on Emami)

    • Momentumisers | Ambuja Cements in the spotlight

      Ambuja Cements has lost 13-14 percent of its market capitalisation since the highs seen in September 2021. In the F&O market, the stock has moved up but no without any big buildup in open interest. Fundamentally, things look up in Q4 for cement companies. (Read more on Ambuja Cements shares)

    • Alembic Pharma gets final USFDA nod for generic Doryx tablets

      Alembic Pharma has got the final US drug regulator's nod for Doxycycline Hyclate DR tablets, used in the treatment of drug-resistant bacteria. Its market size is around $10 million. (Read more on Alembic Pharma)

      Alembic Pharma shares were up three percent at Rs 833.6 apiece on BSE in late afternoon deals.

    • Looking to buy new-age co stocks? What Envision Capital's Nilesh Shah suggests

      2021 has been one of the most remarkable years for the primary market with a slew of new-age companies like Zomato, Paytm, Latent View and more taking to Dalal Street. But is this a good time to invest in the stocks of new-age companies? In an interaction with CNBC-TV18, Nilesh Shah, Managing Director of  Envision Capital, revealed he remains positive on new-age businesses but advised investors to wait for a "weak phase" before buying into the emerging space.

    • Short-term traders have to watch when results come in for IT cos: Rohit Srivastava, Founder & Strategist, Indiacharts.com

      “IT stocks front-run their earning season. We have seen them start performing from December in anticipation of what should be a good earning season, but what tend to happen is that as and when the results start coming out, some of them peak out. So they will continue to be performer, medium-term, but short-term traders would have to watch as and when results come in and there is excitement around.”

    • Market Watch | Buy Praj Ind, L&T, says Shrikant Chouhan, Kotak Securities

      - Praj Industries is a buy with a stop loss of Rs 335 and a target of Rs 370-375.

      - L&T Technology Services is a buy with a stop loss of Rs 5,790 and a target of Rs 6,000.

    • Market Watch: JC Parets, All Star Charts

      Nifty IT can have a great year, another 20-25% of upside for the Nifty IT index in itself. And I think the individual components can go ahead and outperform. You've got 40-45% upside in TCS, if TCS is above Rs 3,500 per share, you can own it. I think it goes to Rs 5,000.

    • Market Watch | Buy SBI, Airtel: Ajit Mishra of Religare Broking

      - State Bank of India is a buy with a stop loss of Rs 470 and a target of Rs 500

      - Bharti Airtel is a buy with a stop loss of Rs 689 and a target of Rs 720


       

    Stock Market Highlights
    : Indian equity benchmarks Sensex and Nifty50 extended gains to the third day in a row on Tuesday. Buying interest in financial, oil & gas and IT shares pushed the headline indices higher. However, selling pressure in healthcare and metal stocks limited the upside. Volatility persisted in the market amid concerns around the increasing cases of the Omicron variant of COVID-19. Broader markets strengthened, with the Nifty Midcap 100 and Smallcap 100 indices finishing 0.3 percent higher each.

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