Wednesday, January 08, 2025 | 05:09 PM ISTEN Hindi

MARKET WRAP: Sensex snaps 6-day losing streak, up 52 pts; autos lead rally

In the broader market, S&P BSE MidCap ended 73 points, or 0.53 per cent, higher at 13,856 levels while the S&P BSE SmallCap closed 29 points, or 0.22 per cent, higher at 13,060 levels.

SI Reporter New Delhi

9:19 AM

Sectoral gainers and losers on the NSE

9:19 AM

First trade: Top gainers and losers on the S&P BSE Sensex

9:17 AM

OPENING BELL

Indices open flat with negative bias, Sensex above 37,800; Nifty hovers around 11,250 levels

9:10 AM

Derivative watch by Nirmal Bang Securities

NIFTY OPTIONS WATCH

Addition in OI were seen in 11500, 11400, 11300 strike Calls and at 11300, 11200, 11000 strike Puts indicating market likely to remain range bound in the near term.
Highest OI build-up is seen at 12000 strike Call and 11000 strike Put, to the tune of 1.36mn and 2.82mn respectively.

FII AND VIX

FIIs were net sellers in Cash to the tune of 126.7 Cr and were net sellers in index futures to the tune of 1177.70 Cr.
India VIX decreased by 0.98% to close at 12.63 touching an intraday high of 13.55.

STOCK OI WATCH

CIPLA, SRTRANSFIN saw built up of Long positions while RECLTD, MCX, OIL, CHOLAFIN and BANKNIFTY saw covering of Short positions.
CONCOR, INDIGO, TORNTPOWER, BHEL and UPL saw liquidation of Long positions while BAJFINANCE, IOC, BAJAJFINSV, TATAMOTORS and HINDPETRO saw built up of Short positions.

9:08 AM

Momentum picks by ICICI Securities

9:06 AM

Market at pre-open

9:01 AM

Rupee opening

Rupee opens lower at 69.12/$ against Thursday's close of 69.04 against the US dollar

8:58 AM

Stock to watch

Maruti Suzuki India: The country's largest carmaker Maruti Suzuki (MSIL) will report its June quarter earnings on Friday. Analysts expect a weak quarter for Maruti due to the slowdown in demand and plummeting volumes which would offset the gains due to higher net realization.

Bajaj Auto: Bajaj Auto will declare its June quarter results on Friday. And, although the company has reported a rise in volumes in an otherwise subdued quarter for auto firms, analysts expect the inferior product mix and higher discounting to drag down the company's profit. READ MORE

8:46 AM

Advance-decline ratio for July at 10-month low due to weak market sentiment

The advance-decline ratio (ADR) has hit a 10-month low in July, hurt by weak market sentiment. According to data from the bourses, the ADR for July stands at 0.73 — the lowest since September 2018. ADR is a popular market breadth indicator. It compares the number of shares that ended higher against those that ended lower, over their previous day’s close. In other words, the number of declining stocks far exceeds the number of advancing ones for July. READ MORE

Illustration by Binay Sinha

8:41 AM

Bajaj Auto Q1 preview: Adverse product mix, discounts to weigh on profit

Bajaj Auto will declare its June quarter results on Friday. And, although the company has reported a rise in volumes in an otherwise subdued quarter for auto firms, analysts expect the inferior product mix and higher discounting to drag down the company's profit. According to data, Bajaj Auto's overall volume grew 1.7 per cent on a year-on-year (YoY) basis to 12,47,174 units in Q1FY20. Total motorcycle volume increased 4 per cent YoY, while three-wheeler volume declined 20 per cent YoY. READ MORE

bajaj auto, motorcycle, bike, two wheeler

8:40 AM

ICICI Bank Q1 preview: Loan growth, lower provisions to aid PAT growth

ICICI Bank is scheduled to announce its April-June quarter earnings for financial year 2019-20 (Q1FY20) on Saturday, July 27. Analysts expect the private lender to report an over Rs 1,000 crore in net profit. Asset quality, especially in the power sector, and trends in loan restructuring would be keenly watched. Analysts at Sharekhan expect the bank to report a profit after tax (PAT) of Rs 1,377 crore as against a loss of Rs 120 crore in the June quarter of the previous fiscal (Q1FY19). READ MORE

By definition, CCB is something that is done when times are good. The Indian banking system has hardly been in a good state over the past few years.

8:38 AM

Maruti Suzuki Q1 preview: Demand slowdown, low volumes to drag earnings

The country's largest carmaker Maruti Suzuki (MSIL) will report its June quarter earnings on Friday. Analysts expect a weak quarter for Maruti due to the slowdown in demand and plummeting volumes which would offset the gains due to higher net realization. During the quarter, MSIL volumes declined around 18 per cent year-on-year (YoY) and around 12 per cent quarter-on-quarter (QoQ) to 402,594 units. READ MORE

8:33 AM

Bond yields surge on buzz that PMO is opposed to sovereign bonds

Now the plan could be to raise rupee-denominated bonds. According to a report by news agency Cogencis, the Prime Minister’s Office (PMO) has asked the finance ministry to issue rupee-denominated bonds, instead of foreign currency bonds. The agency quoted an anonymous source saying the decision was taken after stakeholder feedback following the Budget. This would eventually mean that the dynamics of the borrowing would be very similar to what the local bond yields determine. READ MORE

8:31 AM

Today's picks: From JSW Steel to Tata Motors, hot stocks to watch on Friday

Nifty

Current: 11,252 (11,315)

Target: NA

Stop long futures positions at 11225. Stop-short futures positions at 11375. Big moves (index not futures) may go till 11425, 11100. A long Aug 8, 11100p (27), long 11500c (27) would hit breakeven if the index hits 11046, 11554 by Aug 08. READ MORE

8:28 AM