Sensex falls 105 pts amid mixed global cues; Adani Green gains 6%, HDFC 2%

CLOSING BELL

Wild ride for equity markets continued on Thursday, aggravated by the weekly F&O expiry, as investors monitored geopolitical tensions between Russia and Ukraine in eastern Europe. The S&P BSE Sensex and the Nifty50 indices whipsawed within a band of 700 points and 200 points, respectively, during the day, only to end the session in the negative territory.

The Sensex index closed at 57,892, down 105 points, and the Nifty50 shut shop at 17,305, lower by 17 points.

HDFC (up 1.7 per cent), Reliance Industries (1.2 per cent), and Power Grid (0.56 per cent) were the top large-cap gainers today. These were followed by HDFC, L&T, TechM, ITC, and ITC. 

On the downside, ICICI Bank (down 2.3 per cent), Axis Bank and Ultratech Cement (2 per cent each), and IndusInd Bank (1.3 per cent) were the top drags. Neslte India, SBI, HDFC Bank, Kotak Bank, and Sun Pharma were the other laggards.

In the broader markets, the BSE MidCap index dipped 0.22 per cent and the BSE SmallCap index fell 0.67 per cent.

Individually, the shares of FSN e-Commerce Ventures, the parent company of beauty e-tailer Nykaa, hit a new low of Rs 1,371.35 on slipping 9 per cent on the BSE in Thursday's intra-day trade.

That apart, shares of Indigo Paints hit a new low of Rs 1,788.80, down 3 per cent in Thursday's intra-day trade. They have fallen 8 per cent in one week after the company announced its December quarter (Q3FY22) results. In comparison, the S&P BSE Sensex was down 1 per cent during the same period. 

On the upside, shares of Adani Group of companies buzzed on the bourses on Thursday, soaring up to 8 per cent on the BSE, in an otherwise range-bound market on the back of heavy volumes. 

Sectorally, BSE Power Index advanced 2 per cent on the bourses today with individual stocks, including Adani Green, Adani Transmission, Adani Power, Siemens, JSW Energy, and ABB Ltd rallying up to 6 per cent.

Banking stocks, on the flipside, declined in trade with the BSE Bankex index closing 1 per cent down.

Global markets

The pan-European Stoxx 600 index hovered around the flatline in early trade, with autos adding 0.9 per cent. The UK's FTSE 100 eased 0.7 per cent, France's CAC 40 added 0.26 per cent, and Germany's DAX was little changed.

Earlier in Asia, Japan's Nikkei closed 0.8 per cent down, South Korea's Kospi gained 0.5 per cent, and Australia's ASX added 0.16 per cent.

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Markets at 02:30 PM

LIVE market updates: The key benchmark indices were off the day's high as select banking shares weakened. 

The BSE Sensex which touched a high of 58,346, was up 81 points at 58,078, and the NSE Nifty added 39 points to 17,361.

HDFC and Reliance continue to trade on a firm note, while banking shares were seen weakening. Axis Bank, IndusInd Bank and ICICI Bank were the prominent losers. Among others, UltraTech Cement, Sun Pharma and TCS were notabaly in red.

The broader indices too has pared gains and were mixed. The BSE Midcap index was up 0.1 per cent, while the Smallcap index slipped 0.3 per cent.

Among sectoral indices, the BSE Power index soared 2.3 per cent. The Energy, Capital Goods and Oil & GAs indices were up around a per cent each. The Bankex, however, was down 0.6 per cent.

A total of 106 stocks registered a fresh 52-week high in trades on the BSE so far on Thursday, including the likes of Adani Green, Ansal Properties, Arihant Capital Markets, Blue Star, IVP, Keynote Financial Services, Mawana Sugars, Megastar Foods, Monarch Networth Capital, Shankara Building Products and Times Guaranty.

Whereas, Anjani Foods, Astrazeneca Pharma, Black Box, Heidelberg Cement India, Hindusthan National Glass, Indigo Paints, Jubilant Pharmova, Krsnaa Diagnostics, Vedant Fashions, Nykaa and Procter & Gamble among 23 stocks to hit a new 52-week low.

As many as 288 stocks hit the maximum permissible daily upper limit, while almost an equal number - 273 stocks had dropped to lower circuits during the day so far. 

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Markets at Lunch (01:30 PM)

LIVE market updates: The key benchmark indices were seen consolidating gains in noon deals, backed by steady gains in index heavweights HDFC and Reliance Industries. 

The duo accounted for a gain of 170 points on the BSE Sensex, while the benchmark was up 98 points at 58,095. The NSE Nifty added 44 points to 17,366.

Among the Sensex 30 shares, HDFC rallied 2 per cent and Reliane Industries gained 1.5 per cent. Larsen & Toubro, Tata Steel, Tech Mahindra and Wipro were the other notable gainers. 

Whereas, ICICI Bank, UltraTech Cement and Axis Bank declined around 1.5 per cent each. Nestle India, IndusInd Bank and TCS were the other significant losers.

The broader indices were also up marginally. The BSE Midcap index was up 0.3 per cent, while Smallcap index barely floated in the green.

In the broader markets, Advani Hotels hit the 20 per cent upper limit after ace investor RK Damani & family hiked stake in the company to 5.2 per cent. READ MORE

Among others, IVP was locked at the 20 pe cent upper limit. Times Guaranty, Mawana Sugars, Tera Software, Megastar Foods, California Software, Geecee Ventures, Texmaco Infrastructure, Somany Home Innovation, Schaeffler India, Solara Active Pharma Sciences, Eveready, Adani Power, Adani Green and Hinduja Global Solutions were all up over 6 per cent each.

On the other hand, S M Gold was locked at the 10 per cent lower limit. Ashapura Gold, Iris Business, Medplus Heath Services, Rudra Global Infra, Anand Rayons, Sintex, HCL Infosys, Biofil Chemicals, KRBL, Hikal, FDC, Mahindra Lifespace Developers and Responsive Industries were some of the prominent losers. 

The overall breadth seemed neutral. Out of 3,387 stocks traded so far on the BSE, 1,693 declined, while 1,575 advanced so far.

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Markets at 12 noon

LIVE market updates:  The key headline indices remained listless at noon and were largely flat. The BSE Sensex was up 27 points at 58,024 and the NSE Nifty was at 17,349, higher by 27 points. 

HDFC, Reliance, Tata Steel, L&T, Titan and Wipro were the leading gainers on the Sensex, up 0.5-1.5 per cent. On the Nifty, Tata Consumer, Hindalco, JSW steel, ONGC, Bajaj Auto and Tata Motors were the top winners, up to 2 per cent higher. 

ALSO READ | The recent slide in Nifty Auto saw bullish accumulation and even witnessed a smart recovery around the same mark. Now, any up move above 11,900 could witness a robust breakout towards a new all-time high of 12,500. Bajaj Auto, Tata Motors can rally up to 9%. Click here to read

In the broader markets, the BSE MidCap index was a major outlier, up 0.3 per cent. Gains in the index were led by Adani Power, Shreeram Transport Finance, Page Ind, Indian Hotels, Tata Consumer, BEL, TVS Motors, JSW Energy, Honey Automation, Gland Pharma, Torrent Pharma, Aditya Birla Fashion, trading up 1-5 per cent. 

Hotel and Restraunt stocks were also trading firmly higher as reports on Wednesday said that the government is mulling resuming flights from March-April. Lemon Hotels, Indian Hotels, Specialty Restraunt, Chalet Hotels, and EIH Ltd were up between 1-5 per cent. Advani Hotels and Resorts was the top gainer, up over 16 per cent. 

Among stocks, Schaeffler India surged  after the company's net profit rose 34.6 per cent to Rs 190.64 crore on a 19.58 per cent rise in net sales to Rs 1523.22 crore in the December quarter. 

Schaeffler India

Shares of FSN e-Commerce Ventures, the parent company of beauty e-tailer Nykaa, continued to remain under selling pressure, hitting a new low of Rs 1,371.35, on slipping 9 per cent on the BSE. READ HERE

Further, shares of Adani Group of companies were buzzing on the bourses soaring up to 8 per cent on the BSE. Adani Green Energy, Adani Power, Adani Transmission and Adani Total Gas were up in the range of 3 per cent to 8 per cent, while Adani Enterprises and Adani Ports and Special Economic Zone added 1 per cent. READ MORE

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Markets at 11 AM

LIVE market updates: The frontline indices continued to trade on a choppy note amid high volatility in morning trades. The indices were moving between the red and green zones. The BSE Sensex was 92 points higher at 58,089, while the NSE Nifty was at 17,370, up 47 points. 

On the Sensex, banking counters ICICI Bank and Axis Bank continued to top the losers list down over a per cent each. Ultratech Cement, Sun Pharma, Bajaj twins and Asian Paints were the other major losers. 

ALSO WATCH | India Inc clocked a healthy quarterly growth in Q3 of FY22. But, it was the slowest in six quarters as increased input costs weighed on margins. Find out how inflation headwinds could affect growth. 

The broader markets were mixed with the BSE MidCap index up 0.2 per cent and the SmallCap index down 0.12 per cent.  

Sectorally, the Nifty Auto and Metal indices were the major outliers in a subdued market, up 0.4 per cent and 0.55 per cent up, respectively. The Nifty Oil & Gas index, too, was up 0.8 per cent. The top laggard remained Nifty Bank, down 0.5 per cent. 

Among stocks, shares of Shankara Building Products hit a 52-week high of Rs 705, gaining as much as 4 per cent on the BSE in an otherwise subdued market. In the past two weeks, the stock of the building and home improvement products company has zoomed 42 per cent from Rs 498 levels. READ MORE HERE

Further, Jubilant Ingrevia was trading 1.5 per cent higher on the BSE after the company announced the commissioning of its new Diketene derivatives facility at its manufacturing site in Uttar Pradesh. The company has developed a range of Diketene

Derivatives. The newly commissioned facility marks its entry into the fast growing Diketene business portfolio, it said. READ HERE.

BS SPECIAL

The sharp correction in equity markets over the past few months has dealt a body blow to some of the stocks that debuted at the bourses in fiscal 2021-22 (FY22). A total 54 companies have mopped up nearly Rs 1.2 trillion thus far in FY22 from the primary market. Of these, stocks of 32 companies (60 per cent) are trading below their listing day close price. READ TO KNOW MORE

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Markets at 10 AM

LIVE market updates: The benchmark indices turned volatile soon after they opened with modest gains. The market sentiment is subdued on account of the weekly F&O expiry. The BSE Sensex was down 43 points at 57,953, while the NSE Nifty was flat at 17,326 level. 

Banking stocks came under selling pressure amid losses led by IndusInd Bank, Axis Bank, ICICI Bank, and HDFC Bank, down 0.5-1 per cent. Other top losers were Shree Cement, Ultratech Cement, Dr Reddy's, SBI and Bajaj twins. 

On the upside, PowerGrid, Reliance, M&M, HDFC and Titan were the top Sensex gainers, up to 1 per cent higher. Cipla, Tata Motors, HeroMoto Corp, ONGC, Tata Consumer and Bajaj Auto were the top Nifty gainers, up 1-2 per cent. 

In the broader markets, the BSE MidCap and SmallCap indices had also pared their opening gains with the former trading 0.16 per cent up, while the latter being 0.02 per cent lower. 

Among sectors, Nifty Auto index was the top outperformer, up 0.75 per cent, followed by Nifty Oil & Gas index, higher by 0.6 per cent. On the other hand, Nifty Bank was down 0.6 per cent, while IT, Metals, and Pharma indices were flat. 

Individually, shares of Hero MotoCorp (HMCL) hit an over four-month high of Rs 2,866, rising 3 per cent. The stock has surged 8 per cent in the past three trading days on the BSE ahead of the first electric product (EV) product launch, expected in March. READ MORE HERE


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Opening Bell

LIVE market updates: The benchmark indices started Thursday's session on a fairly positive note as Russia Ukriane conflict concerns eased. The BSE Sensex rose 234 points at 58,231, while the NSE Nifty was at 17,400, higher by 78 points.

However, the indices came off their opening highs soon after the start and slipped into the negative territory as selling pressure mounted on banking stocks, especially. 

Among the Sensex-30 shares, Titan, NTPC, M&M, HDFC, Wipro, L&T, PowerGrid, Tata Steel, Asian Paints, Nestle, Bajaj Finance, ITC and Bharti Airtel were the top gainers, up 0.4-1 per cent. On the Nifty, Hero MotoCorp, Tata Motors, Indian Oil Corp and Eicher Motors were the top additional gainers, trading 1.5-2.6 per cent. 

On the downside, Shree Cement, Britannia, Ultratech Cement, Sun Pharma, HUL, ICICI Bank, Axis Bank, meanwhile, were the top losers. 

In the broader markets, the BSE MidCap and SmallCap indices were also in the positive territory, up 0.5 per cent each. 

Sectorally, the Nifty Auto index was the leading gainer, up 1 per cent, followed by Nifty Realty, and Oil & Gas were up 0.4 per cent each. Nifty Bank and Pharma slipped into the red as they pared their opening gains, down up to 0.2 per cent. 

Among stocks, Hikal was down 6 per cent on the BSE after the company received a notice from the Maharashtra Pollution Control Board for closure of Taloja unit within 72 hours. The Taloja unit had contributed approximately Rs 260 crore amounting to around 15 per cent of the turnover for FY21.

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Pre-open session

LIVE market updates: The benchmark indices were seen holding modest gains in the pre-open trades. The BSE Sensex was up 170 points at 58,167, while the NSE Nifty was at 17,375, up 53 points.
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LIVE market updates: The key benchmark indices are expected to start Thursday's session in the positive zone as per trends indicated by the SGX Nifty futures, which were quoting 17,374 levels around 8 am, over 50 points higher than Nifty's previous spot close. 

Today' session can witness volatility on account of the weekly F&O expiry. Meanwhile, investors may also take into account the January Fed meeting minutes, which show that the central bank believed it was time to raise interest rates, but also that any decisions would depend on a meeting-by-meeting analysis of inflation and other data. 

This apart, among stocks, Ambuja Cements and Nestle India are scheduled to announce December quarter earnings and may remain in focus. READ MORE

Wipro may also be eyed as the company has received a five-year contract to drive transformation for ABB's information systems digital workplace services. The agreement, worth over $150 million, will help ABB's information systems deliver enhanced, consumer-grade digital experiences for its 1,05,000 employees in over 100 countries. 

Global Cues

The US markets ended a volatile session of trade on Wednesday with marginal losses as investors heaved a sigh of relief after Fed FOMC release minutes indicated that the Fed intends to raise interest rates, but it would be done at a moderate pace. Thus, allying some fears of back-to-back rate hikes this calendar year. The Dow Jones slipped 0.2 per cent. The S&P 500 and Nasdaq were down 0.1 per cent each.

Meanwhile, Oil prices rose as the US and NATO questioned Russia’s willingness to negotiate a solution to the crisis, and accused it of increasing its military build-up surrounding Ukraine. Brent crude surged 1.6 per cent to $94.81 a barrel, and WTI crude jumped 1.7 per cent to $93.66, a barrel.

Major markets in Asia exhibited a mixed trend this morning. Kospi surged 1.2 per cent. Straits Times and Taiwan were up 0.6 per cent and 0.4 per cent, respectively. On the other hand, Japan’s Nikkei declined 0.4 per cent, and Shanghai Composite was down 0.2 per cent. Hang Seng traded on a flat note.