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Markets at 02:30 PM
LIVE market updates: The key benchmark indices erased entire day's gains, and slipped into red for a brief moment as investors preferred to lighten positions ahead of the weekend and the upcoming Union Budget.
The BSE Sensex touched a low of 57,197 - down 887 points from the day's high, and was up 126 points at 57,403. The NSE Nifty was up 62 points at 17,172.
Maruti Suzuki was the top loser, down over 2 per cent. Tech Mahindra, PowerGrid Corporation and ICICI Bank were the other notable losers.
Also read: Burger King India: Growth strategy, margin expansion key to stock rally
On the positive front, NTPC had pared gains but was still up over 4 per cent. IndusInd Bank, Sun Pharma, Wipro and Mahindra & Mahindra were the other prominent gainers, up around 2 per cent each.
The broader indices were also off the day's high, but still held smart gains. The BSE Midcap and Smallcap indices were up 1.8 per cent each.
Among sectoral indices, the BSE Realty index surged nearly 2 per cent. The IT, Metal, Oil & Gas, Telecom and Healthcare indices were up around a per cent each, while the Bankex slipped 0.5 per cent.
Elsewhere in Europe, the major markets started trade on a negative note. The FTSE 100 and CAC 40 were down 0.6 per cent each, and the DAX 30 declined 1.3 per cent.
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Markets at Lunch (01:30 PM)
LIVE market updates: The key benchmark indices were seen consolidating gains in noon deals on the back steady gains in select index heavyweights.
The BSE Sensex touched a high of 58,084, and was up 684 points at 57,961. The NSE Nifty gained 226 points at 17,336.
NTPC remains the top gainer, up over 5 per cent a day ahead of its Q3 earnings. IndusInd Bank, Tata Steel, Wipro, Sun Pharma, Mahindra & Mahindra, Bajaj Finance, Titan and HDFC were the other significant gainers, up 2-3 per cent each.
The broader indices were outperforming the benchmark indices by a wide margin. The BSE Midcap and Smallcap indices rallied around 2.5 per cent each as against a 1.1 per cent gain on the Sensex.
The overall breadth was also extremely positive with more than three advancing shares versus every declining stock on the BSE so far.
In the broader markets, JSW Steel Holdings zoomed 16 per cent. LIC Housing Finance, Tirumalia Chemicals, Kirloskar Ferrous, Nava Bharat Ventures, Route Mobile, GMDC, CoForge, Can Fin Homes, Maharashtra Seamless, Hikal, Arvind, Bombay Dyeing, Mindtree, MRPL, Dynacons Systems Solutions, Orient Bell, Salasar Technologies, Orbit Express, GIC Housing Finance, Summit Securities, Gujarat Sidhi Cement, Sarla Performance, PolicyBazaar (up 10 per cent), HT Media, Lotus Eye Hospital, Kitex Garments, 20 Microns and Bhartiya International were the top gainers in trade so far.
On the flip side, Mahindra Logistics, Kirti Industries, MapmyIndia, Thangamayil Jewellery, HG Infra Engineering, Vaibhav Global, Finolex Industries, Motilal Oswal Financial Services, Swaraj Engines, TVS Motor, Sharda Corpchem, Premier Explosives, Jet Frieght Logistics, Signet Industries, Hindusthan National Glass and Butterfly Gandhimathi were the major losers.
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Markets at 12 noon
Meanwhile, the broader markets were outperforming the benchmarks. The BSE MidCap index was up 2.7 per cent and the SmallCap index was 2.45 per cent higher. Among MidCaps, Sona BLW Precision, Mindtree, Jubilant Food, Apollo Hospital, Mphasis, SRF, Page Industries, Max Financial Services, IRCTC, M&M Finance, Vodafone Idea, Godrej Properties, Sun TV, Concor, Union Bank, Castrol India, and Jindal Steel were the top gainers.
This apart, of the 30-sensex shares, 27 continued to trade in the green zone, while the top gainers on BSE included LIC Housing Finance, JSW Holdings, Kirloskar Ferrous, Can Fin Homes and GMDC, up between 10-13 per cent.
The share price of LIC Housing Finance was surging after the company posted strong Q3 results. Its net profit rose 6 per cent year-on-year to Rs 767.33 crore in the third quarter, while its net interest income (NII) rose 14 per cent to Rs 1,455 crore.
Sectorally, BSE PSU, CPSE, IT, Healthcare and Realty indices were the top gainers, up over 2 per cent each.
ALSO READ: Burger King India: Growth strategy, margin expansion key to stock rally
Elsewhere in Asia, markets were mixed on Friday, following a volatile session on Wall Street the night before where investors reacted to comments from the Federal Reserve and US GDP data. The Nikkei 225 in Japan gained around 2 per cent after falling nearly 3 per cent on Thursday, while the Topix was up 1.8 per cent. South Korea’s Kospi also rose 1.9 per cent. Whereas, Hong Kong's Hang Seng index was down 0.8 per cent. Shanghai composite shed 1 per cent, and Shenzhen component fell 0.5 per cent.
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Markets at 11 AM
LIVE market updates: The frontline indices were steadily holding gains in the morning. The BSE Sensex was 622 points higher at 57,899, while the NSE Nifty was up 216 points at 17,326. Gains in IT giants Infosys, TCS, home lender HDFC, Bajaj Finance and Reliance were supporting the momentum.
Meanwhile, Maruti (down 1.4 per cent), PowerGrid (0.5 per cent) and HUL (down 0.1 per cent) were the sole losers on the Sensex. Among gainers, Dr Reddy's, L&T and Kotak Bank were also firmly higher, up over 1 per cent each ahead of their Q3 earnings.
Among sectors, the IT index was among the biggest gainer along with Realty, Metals, Auto, FMCG, Consumer Durables and Oil & Gas. Strong Q3 earnings of Birlasoft and Coforge were supporting the IT pack. The two were trading 3 per cent and 7.5 per cent higher, respectively, on the BSE.
In the primary market, the IPO of Adani Wilmar had been subscribed 70 per cent so far on day 2 of its subscription period. The retail investor portion was fully subscribed at 1.22 times. The NII and QIB categories had been subscribed 60 and 30 per cent, respectively.
Individually, shares of Oil and Natural Gas Corporation (ONGC) rallied 5.5 per cent, and registered a 32-month high at Rs 174.65 on the BSE on improved outlook due to rising oil prices as Brent crude, the global benchmark, touched 90 dollars a barrel for the first time in seven years. READ MORE.
On the other hand, shares of C E Info Systems (MapmyIndia) hit a record low of Rs 1,271.65, on slipping 11 per cent on the BSE after the company reported a 14 per cent year-on-year (YoY) decline in its consolidated profit at Rs 18.52 crore in December quarter (Q3FY22). READ MORE.
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Markets at 10 AM
The strong pull-back has come with a positive start to the February F&O series and after a global sell-off due to rate hike fears by the US Federal Reserve. However, the markets are now appearing to recover from these shocks.
On the Sensex, M&M, NTPC, Tata Steel, Bajaj finance, Wipro, Sun Pharma, Infosys, IndusInd Bank and Bajaj Finserv were the top gainers, all up 2 per cent. ONGC (up 5 per cent) was the top Nifty gainer, followed by Eicher Motors and IOC. Top losers, meanwhile, included SBI, Maruti, PowerGrid.
Sectorally, all Nifty indices continued to trade in green led by gains in Nifty Realty (up 3 per cent), Metals, IT, Healthcare, Oil & Gas (up 2 per cent each) and Auto (up 1.5 per cent).
On the BSE, the PSU index was up 1.7 per cent with the Union Budget to be announced on Tuesday. MMTC, Mangalore Refinery, ONGC, BEML, NLC India, Hindustan Petroleum, NTPC, IRCTC and Concor were the leading state-run units on the index.
Among stocks, shares of Bharti Airtel rallied 6 per cent to Rs 752.80 on the BSE after the company said its board has approved raising funds to the tune of Rs 5,224 crore by issuing shares to Google on preferential issue basis. The telecom services provider will issue 71.18 million equity shares at price of Rs 734 per share. READ MORE HERE.
Opening Bell
Sectorally, all Nifty indices were trading higher with the Nifty Realty, IT, Metal, Auto, Oil & Gas PSU Bank and Pharma indices being top gainers, up 1-1.9 per cent.
Among stocks, shares of Route Mobile were trading over 12 per cent higher on the BSE after the company posted strong Q3 numbers. The company on Thursday posted 28.33 per cent rise in consolidated profit at Rs 48.27 crore for the December quarter. It also announced an interim dividend of Rs 3 per share.
On the flip side, RBL Bank was down 3 per cent on the exchange as investors seemed unimpressed with its Q3 performance. The bank reported a Net Interest Income of Rs 1,010 crore, a 10.4 percent quarter-on-quarter increase and an 11 percent year-on-year increase.The bank's operating profit dropped 9 percent QoQ, to Rs 631 crore.
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Pre-open session
LIVE market updates: The benchmark indices were seen firmly positive in the pre-open trades hinting at a higher start. The BSE Sensex was up 333 points at 57,610, while the NSE Nifty was at 17,193, higher by 83 points.
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LIVE market updates: The key benchmark indices may start trade on a flat note on Friday as indicated by SGX Nifty futures, which were around 17,185 level at 8.40 am, indicating an opening gain of 30-odd points. With the Union Budget next week, investors may want to tread cautiously amid global uncertainty and hawkish mood.
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