Stock Market Highlights Today: Nifty forms bearish engulfing candle candle on daily chart.

NBFC giant Bajaj Finance on Monday said its standalone net profits for the quarter ended December increased 84.42 per cent to Rs 1933.85 crore from Rs 1048.58 crore in the corresponding quarter last year.

We may see a further decline in the Nifty index and the 17,950-18,050 zone would act as a support. Volatility usually remains high during the corrective phase and earnings season is further adding to the choppiness. Keeping in mind the scenario, it’s prudent to maintain a few shorts also. The focus should be on earnings and global markets for cues.

– Ajit Mishra, VP – Research, Religare Broking

Kotak Investment Advisors’ pre-IPO fund mobilises Rs 2,000 crore

Kotak Investment Advisors on Tuesday SAID it has successfully closed its maiden Kotak pre-IPO Opportunities Fund, raising Rs 2,000 crore. The fund will invest in a range of India-focused late-stage new-age businesses with a strong moat of technology, according to a statement. The Kotak Pre-IPO Opportunities Fund has already made investments worth Rs 653 crore in five deals and has another Rs 405 crore worth deals in various stages of evaluation and execution.

Nifty started the day on a positive note but failed to carry the momentum throughout the session. On the higher end price found resistance at 18350 which resulted in a sharp fall towards 18080. On the daily chart Nifty has formed a bearish engulfing pattern. A bearish harmonic pattern is also visible on the daily chart of Nifty. Momentum oscillator RSI (14) has entered in a bearish crossover. On the higher end resistance is visible at 18350-18400; whereas on the lower end support is visible at 18000/17850.

– Rupak De, Senior Technical Analyst at LKP Securities

How to navigate this market?

Raymond to redevelop residential project in Mumbai’s western sub-urban district

‘Ten X Realty Limited’, the step-down wholly owned subsidiary of Raymond, has today signed a binding term sheet for joint redevelopment of residential project in the western sub-urban district of Mumbai. The project is estimated to have, in aggregate, revenue potential of around Rs 2,000 crore over a period of next 5 years. This is in line with the Company’s growth plan to expand its Realty horizons beyond Thane.

Following a weak lead from the global markets, domestic indices witnessed a highly volatile trade ahead of the press conference by the Finance Minister today. Surge in oil prices and FIIs turning net sellers also added volatility in the domestic market. Globally, markets witnessed selling pressure following a surge in US treasury yield amid rate hike worries while oil prices rose on supply tension owing to the drone attack on UAE.

– Vinod Nair, Head Of Research at Geojit Financial Services

Rupee Close Today

Market Stats: Advance-decline ratio in favour of sellers

Sector Watch: All sectors end in the red

> Realty, Metal, Auto worst performers

Sensex Heatmap: Only 7 of 30 Sensex stocks end in the green

How Nifty moved today

CLOSING BELL: Late selling drags Sensex 554 points lower; Nifty barely holds above 18,100; Maruti, UltraTech tank 4% each

Bajaj Auto Q3 Preview: Profit may drop over 20% on commodity inflation

Bajaj Auto is likely to report over a 20 per cent drop in year-on-year (YoY) profit in the December quarter on flattish sales. Realisation may increase due to price hikes, but margins may diminish 400-550 basis points due to delay in the passing-through of commodity inflation. Analysts said higher export contribution and price hikes may dilute the impact of cost inflation a bit and are factoring in some recovery.

Global Market Check

Goldman Sachs sees Brent oil hitting $100/bbl in Q3 2022

Goldman Sachs expects oil prices hitting $100 per barrel in the second half of this year, citing a lower than expected hit to demand from the Omicron coronavirus variant coupled with increased supply disruptions and OPEC+ shortfalls. “This has kept the global oil market in a larger deficit than even our above consensus forecast,” Goldman said in a note dated Monday.

Top Sensex drags in late afternoon trade

Sensex sees fag-end selling amid weakness in US futures

Volatility gauge India VIX jumps 5.39% to 17.67

Reliance Retail buys 54% stake in Addverb Tech for USD 132 mn

Gold, silver spot prices

FTSE 100 eases on weakness in miners, rate hike jitters

London’s FTSE 100 dropped on Tuesday, with shares of consumer firms and precious metals’ miners leading the decline, while improving employment conditions in the UK and rising U.S. Treasury yields signalled growing bets of tighter monetary policies. The blue-chip FTSE 100 eased 0.4%. Precious miners and consumer focussed shares Diageo and British American Tobacco were the top drags. The domestically focussed mid-cap index fell 0.5%.

Market Check: US futures trade lower

Best performing bank stocks in today’s trade

Price as on 18 Jan, 2022 01:44 PM, Click on company names for their live prices.

Q3 EARNINGS: RAMERISHNA FORGINGS

Sensex reverses losses, trades flat with positive bias

Electronics manufacturing firm Dixon Technologies and Imagine Marketing — the parent company of earwear brand boat — have formed a 50:50 joint venture to manufacture Bluetooth enabled audio devices.

Price as on 18 Jan, 2022 01:05 PM, Click on company names for their live prices.

LUPIN: Co made acquisition of a portfolio of brands of Anglo-French Drugs & Industries limited and its associates

Price as on 18 Jan, 2022 01:00 PM, Click on company names for their live prices.

Radiant Cash, Veranda Learning get Sebi nod to float IPOs

Radiant Cash Management Services, an integrated cash logistics player, and online education platform Veranda Learning Solutions have received the go ahead from capital markets regulator Sebi to float their initial public offerings (IPOs). The two companies, filed their preliminary IPO papers with Sebi between October and November and obtained the observation letter during January 10-11, an update with Sebi showed on Tuesday.

Finance Minister Nirmala Sitharaman to address press conference at 4:30 pm

Online travel service provider EaseMyTrip on Tuesday said it has entered into a partnership with regional airline Flybig to sell the latter’s tickets exclusively on its platform.

Price as on 18 Jan, 2022 12:43 PM, Click on company names for their live prices.

Top gainers at this hour

Price as on 18 Jan, 2022 12:39 PM, Click on company names for their live prices.

Delhivery gets Sebi’s go-ahead to raise Rs 7,460 cr via IPO

Supply chain company Delhivery has received capital markets regulator Sebi’s approval to raise Rs 7,460 crore through an initial public offering (IPO). The IPO comprises fresh issuance of equity shares worth Rs 5,000 crore and an offer for sale (OFS) component of Rs 2,460 crore by existing shareholders, according to the draft red herring prospectus (DRHP).

STOCK IN FOCUS: Tata Motors

Bajaj Finance trades flat ahead of earnings

Price as on 18 Jan, 2022 11:43 AM, Click on company names for their live prices.

BOJ raises price outlook but maintains ultra-easy policy

The Bank of Japan upgraded its inflation forecasts on Tuesday and flagged heightening chances the recent commodity-driven price hikes will broaden, the latest sign of its conviction Japan is emerging sustainably out of deflation. The central bank also revised up next fiscal year’s growth forecast and offered a more upbeat view on the economy than three months ago, taking in stride the recent spike in Omicron coronavirus variant cases at least for the time being.

Inox Wind plans to offer up to Rs 400 crore shares in Inox Green IPO

Price as on 18 Jan, 2022 11:11 AM, Click on company names for their live prices.

Top gainers from the hospitality & tourism sector

Price as on 18 Jan, 2022 10:58 AM, Click on company names for their live prices.

Sensex top drags on BSE

Nazara Technologies to acquire 55% stake in programmatic advertising and monetisation company Datawrkz

Price as on 18 Jan, 2022 10:31 AM, Click on company names for their live prices.

IEX: Co have executed a share purchase agreement by and between co, IOC and IGX subsidiary of the co, for sale of 4.93% stake in IGX to IOCL

Price as on 18 Jan, 2022 10:17 AM, Click on company names for their live prices.

Sensex reverses opening gains, down 50 points

I would look at around 19,000 on the upside for Nifty and may be 16,500 on the downside. It is a very broad band but the way the markets are, the kind of liquidity and volatility that there are, the bands will have to be broader. In this range, we will see a massive churn in sectors. A lot of sectors will be going up and down the pecking order and that is where money will be made.

– Atul Suri, Founder & CEO, Marathon Trends

A recent trend in markets globally is the shift from growth to value. One of the several consequences of the exuberance of the new breed of young tech-savvy retail investors is the fad around new age digital stocks. This fad has pushed up the valuations of these stocks into irrational territory. Now the froth in these segments is getting removed. Many tech stocks in the US are sharply down. 2022 is likely to witness high volatility in stock markets unlike 2021. Quality value stocks will be safe bets during the volatile times. FIIs again turning sellers is likely to be a headwind for the market in the short run.

– Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

Realty firm Prestige Estates on Monday reported over two-fold jump in sales bookings at record Rs 4,267.6 crore for the quarter ended December. The company’s sales bookings stood at Rs 2,026 crore in the year-ago period.

Price as on 18 Jan, 2022 09:30 AM, Click on company names for their live prices.

The IT major announced acquisition of 100 per cent stake in Europe-based Com Tec Co IT (CTC) and 25 per cent stake in two insurtech platforms for a total of EUR 330 million (about Rs 2,800 crore).

Price as on 18 Jan, 2022 09:24 AM, Click on company names for their live prices.

Most active stocks on NSE in early trade

Price as on 18 Jan, 2022 09:22 AM, Click on company names for their live prices.

Sector Watch: Metal, auto sole losers

OPENING BELL: Sensex advances 100 points, Nifty nears 18,350; Infibeam soars 8%, Prestige Estates 6%

Pre-open session: Sensex climbs 350 points, Nifty nears 18,400

BOJ raises inflation forecasts, maintains ultra-easy policy

The Bank of Japan upgraded its inflation forecasts on Tuesday and said risks to the price outlook were evenly balanced, in a nod to signs the recent commodity-driven rise in inflation was broadening. But with inflation set to remain below its 2% target in the coming years, the BOJ stressed its resolve to maintain its ultra-loose monetary policy even as its global counterparts move toward exiting from crisis-mode policies.

Q3 results today

SGX Nifty signals a flat start

Nifty futures on the Singapore Exchange traded 2 points, or 0.01 per cent, lower at 18,348, signaling that Dalal Street was headed for a flat start on Tuesday.

Tech View: Nifty50 hurdle at 18,300

The Nifty50 on Monday formed a small real body on the daily chart, similar to the one seen last week, reflecting the narrow range for the market of late. The broader market breadth, however, stayed in favour of the bulls. Analysts said revisiting the recent peak is possible if the index holds on to the 18,200-225 level on a closing basis.

Hong Kong stocks begin with gains

Hong Kong shares opened slightly higher Tuesday as economic recovery optimism returned to the fore, though traders remain on edge over the prospect of the end to central banks’ vast monetary support. The Hang Seng Index added 0.23 percent, or 56.72 points, to 24,274.75. The Shanghai Composite Index was flat, inching up 0.22 points to 3,451.89.

Tokyo stocks open higher with eyes on Bank of Japan

Tokyo stocks opened higher on Tuesday as investors awaited a key Bank of Japan monetary policy decision and its governor’s press conference for his views on the Japanese economy. The benchmark Nikkei 225 index was up 0.48 percent or 137.20 points at 28,470.72 in early trade, while the broader Topix index advanced 0.43 percent or 8.58 points to 1,995.29.

US markets to resume trade today

The US stock market will resume trade on Tuesday after a holiday on account of Martin Luther King Day. All eyes were on the US bond yields after the two-year yields rose above 1 per cent for the first time since February 2020 at the open in Asia, as traders braced for the US Federal Reserve to embark on rate hikes as soon as March.

Rupee falls 10 paise to 74.25 on high dollar demand

The rupee declined by 10 paise to close at 74.25 against the US currency on Monday, declining for the second straight day due to high dollar demand and forex outflows. Dollar buying by banks on behalf of importers and weak economic data weighed on the local unit, analysts said.

Sensex, Nifty on Monday

Benchmark indices Sensex and Nifty edged higher on Monday following gains in IT, energy and auto stocks amid a firm trend in European markets. In a largely range-bound session, the 30-share BSE Sensex ended 85.88 points or 0.14 per cent higher at 61,308.91. The broader NSE Nifty rose by 52.35 points or 0.29 per cent to 18,308.10 points as 34 of its components advanced.

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