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Stock Market Highlights: Sensex ends 143 points higher, Nifty reclaims 17,800; Asian Paints up 2%, Bajaj twins down 1%

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Stock Market Highlights: Sensex ends 143 points higher, Nifty reclaims 17,800; Asian Paints up 2%, Bajaj twins down 1%

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Stock Market Highlights: Indian equity benchmarks Sensex and Nifty50 switched between gains and losses in a volatile session on Friday before finishing the day higher. Caution prevailed among investors globally amid increasing cases of the Omicron variant of COVID-19. Gains in oil & gas, financial, IT and consumer shares were offset by automobile and healthcare stocks. Broader markets strengthened, with the Nifty Midcap 100 and Smallcap 100 indices finishing the day about half a percent higher each.

Stock Market Highlights: Sensex ends 143 points higher, Nifty reclaims 17,800; Asian Paints up 2%, Bajaj twins down 1%
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  • Crucial support for Nifty50 at 17,700: Equity99's Rahul Sharma 

    Rahul Sharma of Equity99 expects 17,700 to act as crucial support for the Nifty, below which, the index might slide to 17,650-17,600 levels. "On the upper side, 17,800 will act as very strong resistance. Once this level is breached, we might see 17,870 and then 18,000," he added. 

    Sharma expects banking, fertiliser, IT and healthcare spaces to be in focus on Dalal Street now. 

  • HDFC Life top pick in insurance: Elixir Equities' Dipan Mehta

    Dipan Mehta, Director at Elixir Equities, believes HDFC Life is the best in the insurance space, and Max Health could be the dark horse. If there is a further correction, Star Health Insurance is a company worth watching, he said. 

    “Valuing and understanding insurance companies is a bit of a challenge. But there is no denying the fact that underlying momentum is a solid 20 percent-plus for the private sector insurance companies. So if you hold them long enough 3-5 years or so, these companies can be great value creators. One should have some amount of allocation to insurance," Mehta said.

  • Positive on KPIT Tech: Elixir Equities' Dipan Mehta

    Dipan Mehta, Director at Elixir Equities, is positive on KPIT Tech. “KPIT Tech is at the premium end as far as midcap stocks are concerned but to an extent justified because the segment that they are in is one of the highest growth segments within the IT space,” he said.

    "There is a disruption underway in the auto sector globally with EVs coming in, and the company benefits from it in terms of higher order flows," he added.   

  • QSRs way too expensive: Avendus Wealth's Suveer Chainani 

    Suveer Chainani of Avendus Wealth Management believes quick service restaurants look way too expensive. "Probably I am biased, but really expensive names just don't resonate with me. So anything beyond 30 (PE) there has to be a very good reason for that stock to be at more than 30-40 and some of the stocks are very expensive," he said.

    "As a theme, definitely, this, redefinition of life plays well for these kinds of names. But once again, the investing versus trading are two different disciplines and one can say that lockdown is coming and we all know but it will go away in a couple of weeks. So would you then sell them? That is the question. So if for the traders possibly there could be a trade. We are not talking specifically about stocks but for investing per se, I guess these are way too expensive for at least my comfort," he added. 

  • Market This Week | Sensex, Nifty gain 3% each; midcap index up 2%

    Here are some highlights:

    --Nifty Bank rises 6% to post biggest weekly gain since May 2021

    --Except pharma, IT, all sectoral indices log weekly gains 

    --39 Nifty stocks give positive returns; Grasim, ONGC, Bajaj Finance top gainers

    --Tech Mahindra, Dr Reddy's, Infosys, Divi’s, Cipla, HCL top Nifty losers

    --India Cements, AU Small Finance Bank, Pidilite, Cholamandalam Investment, Federal Bank top midcap gainers

  • Market At Close | Nifty Bank gains 249 points to 37,740

    Here are some highlights:

    --Reliance Industries, TCS, ICICI Bank, HDFC Bank lift Nifty50; HDFC, L&T drag 

    --Midcap index up 155 points at 31,112

    --Cement shares gain with healthy volumes; Grasim top Nifty gainer

    --Bajaj twins slip after previous day's sharp upmove 

    --Titan fails to hold intraday gains despite strong monthly update

    --Godrej Consumer up 1% after company reports low-volume growth for Q3

    --ONGC, Oil India surge as crude continues to move higher

    --India Cement, Oil India, Nalco, Jubilant Food, AU Small Finance Bank top midcap gainers

    --GMR, Coforge, Piramal, Union Bank, Abbott top midcap losers

    --Market breadth favours bulls; advance-decline ratio at 3:2

    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 | Grasim, ONGC, Hindalco, HDFC Life, Shree Cement among top blue-chip gainers

    Tata Consumer, Asian Paints, Britannia, Nestle and TCS were also among the gainers. On the other hand, the Bajaj twins, Mahindra & Mahindra, Larsen & Toubro, Titan and HDFC were the worst hit among the 17 laggards in the Nifty50 pack. 

    Here's how the 30-scrip basket fared:

    Stock Market Highlights: Sensex ends 143 points higher, Nifty reclaims 17,800; Asian Paints up 2%, Bajaj twins down 1%
  • Closing Bell | Sensex up 143 points at 59,745, Nifty reclaims 17,800

    The 30-scrip index ended 142.8 points or 0.2 percent higher at 59,744.7 and the broader Nifty50 benchmark settled at 17,812.7, up 66.8 points or 0.4 percent from its previous close.  

     
  • India to overtake Japan as Asia's 2nd largest economy by 2030: IHS

    India is likely to overtake Japan as Asia's second-largest economy by 2030 when its GDP is also projected to surpass that of Germany and the UK to rank as world's No.3, IHS Markit said in a report on Friday. Currently, India is the sixth-largest economy in the world, behind the US, China, Japan, Germany and the United Kingdom. "India's nominal GDP measured in USD terms is forecast to rise from USD 2.7 trillion in 2021 to USD 8.4 trillion by 2030," IHS Markit Ltd said. 

  • FM Nirmala Sitharaman reviews PSBs' readiness to tackle any Omicron-induced disruption

    Finance Minister Nirmala Sitharaman on Friday chaired a meeting with chiefs of public sector banks and assessed their readiness to tackle any possible disruptions due to the Omicron variant. In a tweet, the Finance Ministry said during the meeting with CMDs/MDs, held through virtual mode, the minister also reviewed various steps taken by PSBs in implementing pandemic-related measures initiated by the government and RBI.

  • Wait for things to improve before buying any other OEMs: Prakash Diwan, market expert on Hero Motocorp

    One thing that is a bit circumspect is this entire demand uptick, even post the third wave, the third tsunami that we are facing on the COVID side is something that we really don't know in terms of timing. So my worry is that if it stretches too much, the cost of running an establishment without sales or optimal sales is a difficult task for a company like Hero. So they will probably have those kinds of losses to carry forward or drag along with. I would wait for things to really improve before buying any other OEMs for sure.

  • Morgan Stanley maintains 'overweight' on HPCL

    Morgan Stanley has kept an ‘overweight’ rating on HPCL with a target at Rs 391 per share. The refining margin is consistently rising with fuel demand above pre-COVID levels, while fuel inventories are at a multi-year low, refinery capacity rationalization keeping markets tight.

  • Coal Ministry postpones e-auction of 10 coal mines offered for sale of coal

  • Titan wipes initial gains; stock surged 3% post strong biz update

    Shares of Titan Company surged more than 3 percent intraday after the jewellery maker posted a strong business update and said that it witnessed robust demand across its consumer businesses. However, the stock failed to sustain initial gains and fell nearly 1 percent on Friday.

  • Market cap of cos listed on BSE SME platform crosses Rs 50,000 crore

    "It is truly a memorable moment in our history and one we are very proud of. SMEs are the backbone of the Indian economy and the rapid growth in scale we are observing currently is a bright indication of progress of our great nation. This milestone is also a testament to the consistent efforts taken by BSE SME in creating awareness amongst SMEs about benefits of listing," said Ajay Thakur, Head of BSE SME and Startups.

  • upGrad appoints Vikram Vyas as VP Growth, International Sales

    Edtech major upGrad on Friday said it has appointed Vikram Vyas as Vice President - Growth, International Sales for the Asia Pacific and EMEA (Europe, Middle East and Africa) regions. The leadership addition is part of upGrad's strategy to scale up operations in the global higher education space, a statement said. In the new role, Vyas will be responsible for strengthening the company's presence and gaining a dominant market share globally, it added.

  • India favourable among EMs; bullish on renewable energy, real estate, e-commerce: Jefferies

    Simon Powell, Global Head-Thematic Research, Jefferies, on Friday, said that among emerging markets (EMs), India looks like a great place to be in. Powell believes that there are a lot of quality stocks in India that will continue to see highs. He said, "When you look at what our India strategists are suggesting, they're saying a strategy of growth at a reasonable price and there's a number of good quality stocks in India."

  • Omicron News: Centre tells Delhi, adjoining districts to ramp up health facilities

    Amid a surge in Covid cases, Union Home Secretary Ajay Bhalla has asked Delhi and neighbouring districts to immediately strengthen health infrastructure, maintain buffer stocks of essential drugs and ensure that oxygen supply equipment is fully functional.

    Catch all the latest Coronavirus updates with CNBC’s live blog.

  • B2B payments app Rupifi raises $ 25 mn from Bessemer, Tiger Global, others

    Business-to-business (B2B)-focused payments app Rupifi has raised USD 25 million (about Rs 180 crore ) in a series-A round funding, led by Bessemer Venture Partners and Tiger Global. Existing investors Quona Capital and Ankur Capital also participated in the funding round, along with Better Capital, the company said in a statement on Friday. The company was founded in 2020 by Anubhav Jain, Ankit Singh and Jawaid Iqbal. The latest funding is Rupifi's second investment round within nine months, since the pre-series-A round in March 2021.

  • Bitcoin slumps to lowest since September

    Bitcoin on Friday slumped as much as 5% to its lowest since late September, tumbling under $41,000 amid a broader sell-off for cryptocurrencies. Bitcoin was last down 3.7% after touching $40,938, its lowest since Sept. 29. The world's biggest cryptocurrency has lost over 40% since hitting a record high of $69,000 in November and the volatility that has plagued it since its birth 13 years ago remains stubbornly present. 

  • TCS selected by external affairs ministry for Phase 2 of Passport Seva program    

    Tata Consultancy Services said it had been selected by the Ministry of External Affairs for the second phase of the Passport Seva program following the successful implementation of the first phase. Launched in 2008, the Passport Seva Program saw TCS transforming the delivery of passport-related services,
    digitizing the processes, and setting global benchmarks in timeliness, transparency, and reliability, TCS said in a regulatory filing.

    In the next phase of the program, TCS said it will refresh existing facilities and systems, and develop innovative new solutions to enable the issuance of e-passports and further enhance the citizen experience using technologies such as biometrics, artificial intelligence, advance data analytics, chat-bots, auto-response, natural language processing and the Cloud.

    TCS shares were up 0.7 percent at Rs 3,832.8 apiece on BSE.

  • FY22 advance GDP estimates today; here’s what to expect

    The FY22 that is the current year's advance GDP estimates will be announced on Friday. These are computed and announced by the National Statistical Organization or NSO. It is the first step to budget-making. They will give a real GDP growth and a nominal GDP growth.

  • Ujjivan SFB stock top gainer on Nifty500, jumps 12%; here's why –

    Shares of Ujjivan Small Finance Bank jumped as much as 12 percent on Friday after the lender posted a strong quarterly update. The lender’s total deposits rose 34 percent YoY to Rs 156 billion as of December 31, 2021, with retail deposits soaring 50 percent to Rs 83 billion. On a QoQ basis, total deposits were up 10 percent and retail deposits rose 14 percent.

  • Financial is the space for 2022: Jyotivardhan Jaipuria

    Jyotivardhan Jaipuria, Founder and MD of Valentis Advisors, said in an interaction with CNBC-TV18 that the financial sector appears to be the space for this year. Valentis has been adding financials, a space it has been underweight on, to its portfolio over the last six months, he said. 

    "On earnings per se, in this quarter, we may see some concerns on margins because commodity prices had shot up. But if we talk of IT specifically, I think it is a seasonally weak period for the space, but they will do well. So I think earnings per se will be good. Valuations are expensive. We have been lightening our positions in IT rather than adding to the positions, and we've been shifting more to some more domestic-oriented names," he added. 

  • HDFC, Bajaj Finance, Infosys, L&T pull Sensex lower

    Losses in stocks such as Bajaj Finserv, Bharti Airtel, HDFC Bank and Axis Bank also put pressure on the 30-scrip index. 

    On the other hand, gains in stocks such as TCS, Asian Paints, Hindustan Unilever and Reliance Industries lent some support to the Sensex.

    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 143 points higher, Nifty reclaims 17,800; Asian Paints up 2%, Bajaj twins down 1%
  • Buy SAIL, IGL: Jay Thakkar

    Here are two trading calls from Jay Thakkar of Marwadi Shares & Finance:

    --Buy Steel Authority of India for a target price of Rs 125 with a stop loss at Rs 105 

    --Buy Indraprastha Gas for a target of Rs 480-503 with a stop loss at Rs 460 

  • Exclusive | Ola Electric's Varun Dubey says scooters either delivered or in process of delivery

    Varun Dubey of Ola Electric said in an exclusive interaction with CNBC-TV18 that there is a four-week gap between temporary and permanent registrations, and a vast majority of data is not reflected on VAHAN. Registration is a digital process that has multiple loopholes, and some states provide registrations in about four days but others take longer, he said. 

    Scooters are either delivered or in the process of delivery, he said. Not all of the 4,000 scooters dispatched have been delivered to consumers, he added. 

    He, however, did not give a break-up of the number of scooters actually delivered so far. "We have some cancellations but it is not a large number," he said. 

    Stock Market Highlights: Sensex ends 143 points higher, Nifty reclaims 17,800; Asian Paints up 2%, Bajaj twins down 1%
  • HDFC Securities initiates coverage on Oil India with 'buy' rating

    HDFC Securities has initiated coverage on Oil India with a 'buy' rating. The brokerage recommends buying the stock in the Rs 196-200 band, and add more on dips to Rs 168-172. 

    It sees a base case fair value of Rs Rs 219.5, and a bull case fair value of Rs 236. 

    At Rs 197.85, the stock trades at 1.4 times its December 23E EV/EBITDA and 3.5 times its December 23E EPS on a consolidated basis, according to HDFC Securities. 

  • Technical Picks | Titan, Bajaj Auto, Rain Industries, Balaji Amines on analysts' list now

    The Nifty50 kicked off 2022 with a bang, after rising 24 percent in 2021 -- its biggest annual gain since 2017. Analysts see several trading opportunities on Dalal Street now. They recommend stocks such as Asian Paints, Titan, Bajaj Auto and Affle from to traders to make the most of the market in the short term. (Catch the complete list of 10 stocks traders can consider now)

Stock Market Highlights
: Indian equity benchmarks Sensex and Nifty50 switched between gains and losses in a volatile session on Friday before finishing the day higher. Caution prevailed among investors globally amid increasing cases of the Omicron variant of COVID-19. Gains in oil & gas, financial, IT and consumer shares were offset by automobile and healthcare stocks. Broader markets strengthened, with the Nifty Midcap 100 and Smallcap 100 indices finishing the day about half a percent higher each.

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