Sensex ends choppy day 170 pts up, Nifty at 17,650; IT stocks lead gains
Closing Bell: Broader markets trailed gains in benchmark indices. The BSE Midcap and Smallcap indices closed up to 0.2 per cent lower
 "MARKET LIVE: Sensex, Nifty hold tepid cuts; Midcaps trail, Voda Idea up 7%")
CLOSING BELL: Following a sharp selloff over the last two days, equity markets were in a tight grip of volatility on Monday with benchmark indices managing to eke out nominal gains by close. The BSE Sensex oscillated 945 points between gains and losses during the day. It touched an intra-day low of 58,699 to eventually recover and close 170 points higher at 59,500. The NSE Nifty also rose 243 points from its day's low to end at 17,649, up 45 points.
The top stocks that helped the indices edge higher included Adani Enterprises, Bajaj twins, Ultratech Cement, HCL Tech, NTPC, Asian Paints, Infosys, Wipro, Maruti and Reliance, which gained 1-5 per cent.
On the flip side, Power Grid, L&T, IndusInd Bank, Bajaj Auto, HUL, Tata Steel and JSW Steel were the leading frontline losers that dropped up to 3 per cent.
On the flip side, Power Grid, L&T, IndusInd Bank, Bajaj Auto, HUL, Tata Steel and JSW Steel were the leading frontline losers that dropped up to 3 per cent.
Meanwhile, broader markets trailed gains in benchmark indices. The BSE Midcap and Smallcap indices closed up to 0.2 per cent lower. Among sectors, Nifty IT gained the most by 1 per cent followed by PSB index, while oil & gas pocket was the top loser, down over 3 per cent.
Buzzing stocks
Adani group stocks were mixed on Monday with Adani Enterprises, Ambuja Cements and ACC gaining 1.4-4 per cent following the group's detailed rebuttal to allegations made by Hindenburg Research. While Adani Transmission, Adani Total Gas, Adani Green ended 15-20 per cent lower. Adani Wilmar, Adani Power and NDTV lost 5 per cent each. With this, the group's market rout has exceeded $66 billion. READ
Meanwhile, Bajaj Finance was the top index winner that ended around 5 per cent higher on reporting its highest-ever consolidated quarterly profit of Rs 2,973 crore in Q3. READ
Quiet response to Adani Ent's OFS
As of 3:40 pm, Adani Enterprises' OFS had been subscribed only 2 per cent with bids made for 9,10,140 shares versus 4,55,06,791 shares on offer. The stock ended at Rs 2878.5, down 8.1 per cent over the floor price of the OFS.
4:14 PM
TECHNICAL OUTLOOK: Gaurav Ratnaparkhi, Head of Technical Research, Sharekhan by BNP Paribas
Continuing with the bearish momentum from the last week the Nifty opened gap down & went down to breach the last week’s low of 17493. On the downside it received support near 17400 & recovered sharply towards the end of the session, resulting in a positive daily close. Consequently, the Nifty managed to hold above the 61.8% retracement of the Sept – Dec 2022 rise & 200 DEMA, which are near 17550. This makes today’s low of 17405 a crucial support. On the higher side, the index can test 17800, which will now act as a resistance as per the principle of role reversal.
4:10 PM
MARKET COMMENT: Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
The response by Adani had a mixed effect on the stock group and market. The saga is likely to continue as a hanging risk in the minds of the investors in the medium-term. To expect a scientific assessment report either by a strong independent third party or government is dim in the short-term. Now the focus of the market will be on budget and fed policy.
3:57 PM
Over 1,500 stocks advanced, while 2,040 declined
3:53 PM
Broader markets bleed; India VIX jumps over 2%
3:47 PM
Nifty IT best sectoral performer, gains over 1% in a tepid market
3:45 PM
Power Grid, Bajaj Auto, IndusInd Bank top Nifty50 losers
3:41 PM
Bajaj Finance, Adani Enterprises, Ultratech Cement top Nifty50 gainers
3:38 PM
SENSEX HEATMAP: 19 out of 30 index constituents in positive territory
3:35 PM
CLOSING BELL: Nifty50 closes firmly at 17,650 levels
3:32 PM
CLOSING BELL: Sensex rises over 150 pts to close at 59,500
3:25 PM
ALERT: SRF gains 2% after revenue grows 4% YoY in Q3FY23
3:15 PM
Indian Bank nears 52-week high in a weak market; stock up 19% in 3 months
3:01 PM
Global Check:: US, UK stock futures down up to 1%
Source: Investing.com
2:52 PM
Earnings Alert: Exide Industries Q3 net up 9%; stock dips 4%
Exide Industries net profit grew 9.3 per cent to Rs 223.18 crore in Q3FY23 as against Rs 204.10 crore in Q3FY22. Total income was up 6.8 per cent YoY at Rs 3,428.70 crore.
2:44 PM
Europe steps up rollback of Russia energy ties with ban on diesel import
Europe is taking another big step toward cutting its energy ties with Russia, banning imports of diesel fuel and other products made from crude oil in Russian refineries. READ MORE
Topics : MARKET WRAP Markets Q3 results Adani Group Vedanta sbi Zomato Tata Motors Markets Sensex Nifty stock market trading stock market investing Indian stock market Indian stock markets Market news SGX Nifty S&P BSE Sensex Nifty 50 Nifty50 earning Nifty50 Budget 2023
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First Published: Jan 30 2023 | 8:18 AM IST
