Sensex down 1.2k pts, Nifty at 17,250; sectoral indices in red

Sensex bloodbath

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PTC India Financial shares fall 8% on India market regulator notice

Shares of PTC India Financial Services Ltd fell as much as 8.3% on Monday after India’s market regulator directed the non-banking financial company over the weekend to address corporate governance issues before holding any board meeting.

The Securities and Exchange Board of India (SEBI) also asked PTC India Financial to file an action-taken report in four weeks, the company said.

The firm was accused of lapses in corporate governance by four independent directors, who resigned last week. 

Top drags on Sensex

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Sensex plunges over 1,000 points

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How Nifty is moving today

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India VIX surges over 12% to 21 level

Markets deep in the red

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Nifty realty tanks over 3.5%

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Paytm, Fullertone announce partnership to scale up digital lending to MSMEs

Paytm and non-banking financial company Fullerton India have announced a partnership to expand digital lending to MSMEs and consumers from smaller cities and towns.

“Fullerton India and One97 Communications Limited, which owns the brand Paytm, India’s leading digital payments and financial services platform, have announced a partnership to provide lending products to merchant partners and consumers. With the partnership, the two established institutions will leverage data-driven insights and wide reach to bring credit to new-to-credit users,” Fullerton India said in a statement.

Bandhan Bank shares up 3.5% post Q3 earnings

Private sector lender Bandhan Bank Ltd returned to profitability in the December quarter with a net profit of ₹860 crore aided by higher other income and a decline in provisioning. In Q2FY22, the bank had reported a net loss of ₹301 crore.

Reacting to the earnings, the stock rose around 3.5% on the NSE in Monday’s opening trade.

Rupee slips

Sensex plunges nearly 700 points

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Multibagger stock: NBFC doubles shareholders’ money in 12 sessions

After ushering in New Year 2022, a good number of shares have given multibagger returns to their shareholders. However, most of them are X or XT category stocks with lower liquidity. KIFS Financial Services is one such X category stock that has doubled shareholders money in just 12 sessions. The stock had closed at ₹64.80 apiece levels on BSE on 5th January 2022 whereas it closed at ₹133.40 per share levels on BSE on 21st January, doubling shareholders money in just 12 trade sessions. 

Markets opening view: Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments

17500 was a level of support that the market has broken this morning. If we continue trading below this level, it can fall further and 17200 would be the next target or level of support for the Nifty. The resistance for the index is currently at 17800 and hence any rally up is an opportunity to short the markets. 

Zomato, Paytm shares fall to lowest since listing

New-age tech stocks Zomato and Paytm continued to remain under pressure, hitting their respective lows since listing. Zomato slumped over 18% in Monday’s early deals to ₹98 apiece on the BSE, plummeting over 25% in the last five trading sessions. On the other hand, Paytm was trading nearly 4% lower at ₹924 apiece. 

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ICICI Bank shares surge on strong Q3 results, Brokerages see huge upside

Shares of ICICI Bank surged over 1% to at ₹811 apiece on the BSE in Monday’s opening deals after the lender’s standalone net profit rose 25% to ₹6,194 crore in the December quarter from ₹4,940 crore in the year-ago quarter, on the back of higher net interest income and lower provisions.

Its net interest income (NII), the difference between interest earned and interest expended, rose 23% year-on-year (y-o-y) to ₹12,236 crore in the Q3 of FY22.

BSE IT shed 2%

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Most active stocks on Nifty

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‘BUY’ SBI Life Insurance: ICICI Securities

SBIL pushes guaranteed business and controls cost to sustain margin, Maintain BUY

Recommendation: BUY

CMP: ₹1,241

Target Price: ₹1,768

Potential Return: +43%

(1) Management stated that sales of Non-par Guaranteed business will be driven by customer demand and they are not looking at internal limits at the moment. 

(2) SBIL has not changed anything on the retention approach for retail protection as far as the new product launched in 2QFY22 is concerned. 

(3) Two key reasons for improvement in VNB margin for SBIL on YoY basis has been improved margin for product buckets and declining expense ratio. 

(4) We maintain ‘BUY’ rating on SBIL with a revised price target of ₹1768. 

Tech Mahindra, Asian Paints drop 2.5% each

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Nifty below 17,600 at open

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Markets at open

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Sensex 200 pts down, Nifty opens in red amid weak global cues

Nifty in pre-open

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Sensex in pre-open

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Bitcoin, ether, dogecoin gain while Shiba Inu, Cardano, Solana slip

Check cryptocurrency prices today

Nalco, 4 other stocks under F&O ban on NSE today

A total of five stocks have been put under the ban for trade on Monday, January 24, 2022 under the futures and options (F&O) segment by the National Stock Exchange (NSE). These securities have been put on ban under the F&O segment as they have crossed 95% of the market-wide position limit (MWPL), as per the NSE.

Vodafone Idea, Indiabulls Housing Finance, Escorts, Bharat Heavy Electricals Limited (BHEL) continue to be under the F&O ban, whereas Granules India which was part of the list in the previous sessions, is out of the list for today.

Stocks to Watch: Reliance, Vodafone Idea, PNB, ICICI Bank

Here is the list of the top 10 stocks that are likely to be in focus today.

Rupee rises 8 paise to close at 74.43 against US dollar

The Indian rupee advanced by 8 paise to close at 74.43 against the US dollar on Friday, helped by some correction in crude oil prices and weaker greenback against key rivals.

However, the rupee’s further recovery was restricted by continuous foreign fund outflows and sell-offs in domestic equities, analysts said.

At the interbank foreign exchange market, the rupee opened at 74.50 a dollar and during the day, it witnessed an intra-day high of 74.40 and a low of 74.55 against the American currency.

The domestic unit finally settled at 74.43 against the American currency, up 8 paise over its last close of 74.51.

Stocks May Extend Drop on Fed Tightening Concerns

Stocks looked set for further declines Monday amid concerns about tightening Federal Reserve policy, while a cryptocurrency plunge highlighted waning appetite for the most speculative investments.

Futures for Japan, Australia and Hong Kong fell following one of the worst stretches for global shares last week since the onset of the pandemic. The dollar was steady against key peers in early Asian trading.

The Fed on Wednesday is expected to signal a liftoff in interest rates from March and balance-sheet reduction later this year. Ebbing stimulus is forcing a rethink about the economic and market outlook.

Oil Opens Week With Jump on Outlook for Stronger Global Demand

Oil pushed higher at the week’s open as investors weighed prospects for rising demand as the omicron virus wave fades in key economies.

Global benchmark Brent rose toward $89 a barrel after a run of five weekly gains, the best streak since October. President Joe Biden’s chief medical adviser, Anthony Fauci, expressed optimism at the weekend that the surge in the new variant will soon peak. That could underpin improved consumption as more workers return to offices and people travel more.

Crude has enjoyed a robust start to the new year, with prices soaring to the highest since 2014 last week, as demand picked up, stockpiles fell, and top Wall Street banks including Goldman Sachs Group Inc. issued bullish oil forecasts. At the same time, investors are weighing the possibility that Russia may invade Ukraine, as well as the outlook for tighter U.S. monetary policy.

SGX Nifty futures trading 148 points (0.85%) lower at 17,489 in early deals

Asia stocks fall

Asian stocks fell Monday and U.S. equity futures rebounded as traders weighed concerns about tightening Federal Reserve monetary policy. Treasury yields and crude oil climbed.

Shares fell in Japan, technology stocks retreated in Hong Kong and China’s market was mixed. But gains in S&P 500 and Nasdaq 100 contracts stirred hopes of some respite after one of the worst stretches for global shares last week since the pandemic began. The dollar was steady.

The Fed on Wednesday is expected to signal a March liftoff in interest rates and balance-sheet reduction later this year to help fight inflation. Ebbing stimulus is forcing a rethink about the economic and market outlook.

How the policy shift will affect fixed income is among the key questions. The Treasury yield curve flattened and the 10-year yield rose as high as 1.78%.