Sensex
The top gainers on the Sensex are Wipro, HCL Technologies, Tech Mahindra, Infosys, and HDFC Bank, while the top losers are Bajaj Finance, Bajaj Finserv, Tata Steel, Asian Paints, and Larsen & Toubro.
Closing bell
Indian market news
Fii and Dii data
| Fii Sold | 340.05 Cr |
| Dii Bought | 2,911.19 Cr |
Indian market news
- The Nifty PSU Bank index is up 1%, led by Bank of Maharashtra, Jammu and Kashmir Bank, and Union Bank of India:
- Oberoi Realty, Godrej Properties, and Prestige Estate led the BSE Realty index up 0.5 percent.
- In December, wholesale inflation in India reached a nine-month high of 0.73%.
- On January 12, Goodluck India will launch a QIP with a floor price of Rs 989.40 per share.
- On Day 1 of the Medi Assist Healthcare IPO, 28% of the issue was subscribed to, and 50% of the retail component was booked.
- Anant Raj issues a QIP with a floor price of Rs 310.78 per share.
- On January 12, eMudhra will launch a QIP issuance at a floor price of Rs 443.56 per share.
- Tata Consumer would pay Rs 1,900 crore for Fabindia-backed Organic India.
- Tata Consumer loses Rs 7,000 crore on Capital Foods, Organic India deal.
- REC Solar Holdings, a subsidiary of Reliance Industries, will sell REC Solar Norway to Elkem ASA for USD 22 million.
- Zomato Large Trade | According to CNBC-TV18, 4.5 lakh shares (0.5 percent equity) worth RS 622 crore change hands in a block trade.
- Alkem Laboratories has reported a fraudulent transfer of Rs 52 crore as a result of a cyber-security incident.
- Nippon India acquires Rs 223 crore in Gillette India shares.
- Lexdale International sells Nykaa shares valued Rs 495.4 crore.
- Leading Light Fund, a foreign portfolio investor, sells 0.75% of its interest in Valiant Laboratories.
- Promoter Pristine Malwa Logistics Park sells 0.9% of its stake in Sical Logistics.
- The Serum Institute of India has sold 0.61% of its stake in Ravinder Heights.
- EVOQ Remedies falls 15% in two days, falling 24% after the promoters’ sudden stake sale.
- Jio Financial Services is up more than 2% ahead of Q3 earnings, and is up 10% in a month.
- DroneAcharya Aerial receives recognition from the Indian Army and the Ministry of Defence.
- NLC India awards Bharat Heavy Electricals a Rs 15,000 crore order in Odisha.
- Man Industries receives fresh orders at Rs 400 crore.
- Tata Consumer Products would buy Capital Foods and Organic India.
Indian Market Stocks
| Sensex | 801.90 | +1.11% | 73,370.35 |
| Nifty 50 | 214.60 | +0.98% | 22,109.15 |
| Bank Nifty | 502.55 | +1.05% | 48,212.35 |
Market Movers
| Wipro | 29.85 6.41% | HDFC Life | -25.70 -1.69% |
| ONGC | 10.10 4.52% | Bajaj Finance | -155.70 -2.03% |
| HCL Tech | 46.35 3.01% | Bajaj Finserv | -19.95 -1.21% |
| Bharti Airtel | 26.00 2.42% | Hindalco | -6.75 -1.16% |
| Tech Mahindra | 31.15 2.38% | Eicher Motors | -39.70 -1.03% |
News updates
Discuss in detail the main agenda items scheduled for the 54th WEF meeting in Davos in 2024.
The World Economic Forum (WEF) will have its 54th annual meeting at the Swiss Alpine School in the heart of Davos from January 15–19, 2024.
Transparency, consistency, and accountability are three fundamental trust-building concepts that will be highlighted throughout the conference, which has as its topic “Rebuilding Trust.” It seeks to unite more than a thousand multinational corporations, prominent international organisations, governments, academic institutions, and the media worldwide.
The “back to basics” theme of Davos 2024 will encourage candid and fruitful communication among leaders of industry, government, and civil society. The goal is to provide insight via the most recent developments in science, industry, and society while navigating the complexity of the contemporary environment.
Google dismisses hundreds more workers from its engineering and other divisions | How will AI affect employment in 2024?
Employees developing Google’s voice-activated assistant were let go. Google claims that the reorganisation will enhance Google Assistant as it investigates incorporating more recent artificial intelligence technology into its offerings. See to learn more.
Rises Rs 1.99 lakh cr in the Mcap of five of the top ten most valuable companies; Reliance excels
Last week, the market worth of five of the top ten most valuable companies increased by Rs 1,99,111.06 crore, with Reliance Industries emerging as the largest gainer and fostering bullish views.
The BSE benchmark increased by 542.3 points, or 0.75 percent, last week. The benchmark Nifty and Sensex equity indices rose more than 1% to reach new all-time highs on Friday.
With a combined loss of Rs 76,098.67 crore, HDFC Bank, Hindustan Unilever, ITC, State Bank of India, and Life Insurance Corporation of India (LIC) were the laggards, while Reliance Industries, Tata Consultancy Services (TCS), ICICI Bank, Infosys, and Bharti Airtel were the winners among the top ten. Reliance Industries increased its market valuation to Rs 18,53,865.17 crore by adding Rs 90,220.4 crore.
TCS’s valuation increased to Rs 14,20,333.97 crore from Rs 52,672.04 crore. Tata Consultancy Services’ stock increased by almost 4% on Friday following the company’s announcement of an 8.2% increase in net income at Rs 11,735 crore for the December quarter.
Mapping the World Economy: Fed to take the lead in moving towards interest rate reductions
The upcoming year is expected to be the year of interest rate cuts, with the Federal Reserve taking the lead in favour of wealthier nations.
Traders increased their wagers on the Fed’s aggressive plan to reduce borrowing costs this year following news that producer prices continued to decline in December. Despite this, there will be difficulties in controlling inflation because a gauge of consumer prices increased by the greatest in three months.
While similar measures declined in Chile and Norway in December, Argentina’s inflation rate exceeded 200% for the full year. While global inflation is largely declining, concerns about a resurgence of cost pressures are being heightened by rising transportation costs and an increase in oil prices.
Avenue Supermarts Q3: Revenue increases 17.3% as net profit for D-Mart operator jumps 17% to Rs 690 crore.
The retailer chain Avenue Supermarts, which owns D-Mart, announced on January 13 that its consolidated net profit for the third quarter of fiscal year 2023–24 was Rs 690.41 crore, a 17.09 percent increase from Rs 589.64 crore in the same time the previous year.
The company’s net profit on its own increased by 14.9% from Rs 641.07 crore to Rs 641.07 crore the year before. The consolidated income from operations of Avenue Supermarts increased 17.31% YoY to Rs 13,572.47 crore from Rs 11,569.05 crore in the December 2022 quarter. Compared to the previous year’s Rs 11,304.58 crore, the standalone revenue increased by 17.1%.
In Q3FY24, earnings before interest, tax, depreciation, and amortisation (EBITDA) were Rs 1,120 crore, up from Rs 965 crore in the same quarter the previous year. In Q3FY24, EBITDA margin was 8.3 percent, comparable to 8.3 percent in Q3FY23.
In the Mahanadi basin block, ONGC discovers gas twice in a row.
State-owned Oil and Natural Gas Corporation (ONGC) has produced two large back-to-back natural gas discoveries in a Mahanadi basin deepwater block in the Bay of Bengal as its calculated game plan of pushing into high-risk deep-water exploration starts producing results.
According to two people with firsthand knowledge of the development, the company made the finds in the block MN-DWHP-2018/1, which it had won in the open acreage licencing policy’s third round of auction in 2019. The fact that the finds were uncovered in an area that was previously designated as “no-go” due to national security concerns is noteworthy.
According to them, during the first testing, the first discovery, known as Uktal, flowed more than 3 lakh cubic metres of gas a day at a water depth of 714 metres. The other find, they added, is at a water depth of 1,110 metres.The Directorate General of Hydrocarbons (DGH), an upstream regulator, has been informed of the finds by ONGC, and the company is currently evaluating the size of the pool and its commercial potential.
Nifty might be nearing the end of its current surge | These 3 stocks could provide a short-term profit of 10–25%
Indian markets reached a record high just one week into 2024, with the Nifty index reaching a lifetime high of 21,928, marking a fresh breakout. The index surpassed the 21,500 support level and tested nearly 22,000 in futures trading, with the surge potentially continuing to reach 22,200–22,400 the following week. However, the long-short ratio of FII index futures has dropped from 70 percent in the previous week to 66%, indicating potential upside for the Nifty. This could be the end of the rally, with significant profit-taking. It is recommended that traders exercise caution when holding long positions and have a rigorous stop loss on the downside when investing in individual stocks, especially smallcap companies. A break of 21,500 is required to validate the temporary peak.
Nifty IT shining: Invest in these two IT firms to generate substantial rewards
Nifty has broken above the trading range of the previous eight sessions, where it was consolidating between 21,440 and 21,800, on the daily charts. Friday, January 12, 2024 saw giants TCS and Infosys post significant gains, contributing to the Nifty’s record highs. Reliance Industries also backed the surge since it has been trading at record highs for the past three trading sessions. Additionally, a strong sector rotation is evident, with several sectors contributing to the upward trend.
Based on Elliott wave theory, the current state of prices is wave iii of (v). Hence, it is advisable to consider declines as buying opportunities, unless there is any closing below the support level of 21,580 (what to do then, not buy?). A close over the 22,000 psychological barrier will prolong the short-term uptrend.
To put it briefly, the Nifty has recently broken out of the flag formation and could continue to rise towards levels of 22,118. As long as it is over 21,580, buying on dips can be a wise approach.
82 smallcaps rise 10–39% as the historic rally persists.
The market experienced a strong recovery on the final day of the week as investors celebrated the results from Infosys and TCS, the two largest IT companies, after the market began the week on a negative note and remained in consolidation for the following three days.
BSE Sensex gained 542.3 points, or 0.75 percent, to conclude at 72,568.45 on the week, while Nifty50 gained 183.7 points, or 0.84 percent, to close at 21,894.50. The Sensex and Nifty reached new all-time highs of 72,720.96 and 21,928.25, respectively, on January 12.
The BSE-Largecap, BSE-Midcap, and BSE-Smallcap broad indices all reached new all-time highs this week, rising by 0.7%, 0.45%, and 1.5%, respectively.
Sebi mulls framework allowing customers to voluntarily block trading accounts
The capital markets regulator, Sebi, announced on Friday that a framework enabling trading members to provide the option of voluntarily limiting online access to trading accounts for clients exhibiting suspicious activities will be implemented by April 1.
The regulator stated in a circular that the Brokers’ Industry Standards Forum (ISF), in partnership with stock exchanges and Sebi, will establish the framework. Guidelines for the comprehensive policy of voluntarily blocking or freezing a client’s online trading account will be included in the framework.
It will specify how clients can request such blocking, how long it takes to execute their requests and block their trading accounts, and how an acknowledgment will be sent out after the message is received. Additionally, Sebi stated that the trading member will take action after receiving a request to freeze or block the trading account and initiate the process of re-enabling the customer to trade.
Paytm’s stake is increased by domestic retail investors to 12.85%.
In the third quarter that ended in December 2023, domestic retail investors grew their position in Paytm from 8.28 percent to 12.85 percent sequentially. The share of domestic institutions climbed as well, rising from 4.06 percent to 6.06 percent due to a rise in mutual fund investments.
The domestic mutual funds Mirae Mutual Fund and Nippon India Mutual Fund increased their holdings in the fintech behemoth by 2.20 percent for the quarter and now hold 4.99 percent at 3,16,64,315 shares, according to the most recent shareholding pattern for Q3FY24.
The remaining portion is still invested in other domestic organisations, such as insurance companies (0.40), provident funds/pension funds (0.05), and alternative investment funds (0.63).
Must read book about investing – check here
Sensex Sensex Sensex Sensex Sensex Sensex Sensex Sensex Sensex Sensex Sensex Sensex Sensex Sensex
TCS buyback acceptance percentage at 35%, better than prior time
Tata Consultancy Services (TCS) has decided the acceptance percentage of its buyback issue at roughly 35 percent, some investors who tendered their shares claimed.
The acceptance ratio refers to several shares accepted to be bought by the corporation against the number of tendered shares. The ratio was 24 percent during the 2022 buyback.
For small shareholders, the ratio of repurchase (i.e. eligible number of shares to be tendered for the number of shares owned) was fixed at one share for every six shares held as of the record date. For other stockholders, it was two shares for every 209 shares held by them.
The company planned to buyback 4.09 crore shares at Rs 4,150 apiece and received bids for 26 crore shares.
SpiceJet board meet to examine fundraising and Q2FY24 results adjourned till Dec 12
SpiceJet, once India’s second-largest carrier by market share, said that it has pushed out the board meeting to examine fundraising and Q2FY24 results to December 12. The airline was set to declare its Q2FY24 results on December 11.
Sterling & Wilson Renewable Energy publishes QIP; floor price at Rs 365.02 per share
Sterling and Wilson Renewable Energy Limited on December 11 announced the opening of a qualified institutional placement (QIP) issuance.
The Securities Issuance Committee agreed a floor price for the offer at Rs 365.02 per share following the computation stipulated by the Securities and Exchange Board of India, the business said.
Additionally, the worldwide pure-play, end-to-end renewable engineering, procurement and construction (EPC) solutions provider may consider granting a reduction of up to 5 percent on the floor price. A meeting is scheduled to establish the issuance price of the equity shares, it stated.