Sensex slips 168 pts led by HDFC Bk, RIL, Nifty below 17900; IT pack shines

CLOSING BELL: IT majors Tech M, HCL Tech, Infosys, Wipro and TCS were the top Sensex winners, which gained up to 3 per cent

CLOSING BELL

Ease in wholesale prices for December could not soothe investors on Monday as markets closed the session on a weak ground pulled down by select heavyweights.

After opening with firm gains, the BSE Sensex shed 494 points from the day's high. The index ended 168 points lower at 60,093 dragged by HDFC twins, Reliance, Axis Bank, ICICI bank, L&T, HUL, Airtel and M&M, down 1-2 per cent.

On the flip side, IT majors Tech M, HCL Tech, Infosys, Wipro and TCS were the top index winners, which gained up to 3 per cent.

The NSE Nifty closed 62 points lower at 17,895. Adani Enterprises, Hindalco and JSW Steel were the additional losers on the index.

In the broader market, the BSE Midcap and Smallcap indices also ended 0.3 per cent and 0.1 per cent lower, respectively.

Within sectors, IT and PSB indices on the Nifty defied the market and closed over 1 per cent higher. Metal and financial pockets were the worst hit.

Among stocks, Sula Vineyard zoomed 15 per cent after the company posted highest-ever quarterly sales in Q3FY23. Read story

HDFC Bank weakens post Q3 as moderating loan, deposit growth weighs

HDFC Bank shares closed 1 per cent lower as focus shifted on the lender's moderating growth post the October-December quarter result. Analysts expect the stock to perform gradually until the margin profile revives, and the merger-related overhang eases. Read review here

Markets to shift to T+1 settlement system from January 27: Report

The Indian stock market will shift to a shorter trading cycle, T+1 settlement, on January 27. This would allow the buyers and sellers to get shares and money in their accounts one day after the trade ends, a report by The Times of India said. Read here

4:11 PM

TECHNICAL VIEW: Gaurav Ratnaparkhi, Head of Technical Research, Sharekhan by BNP Paribas

The Nifty has been witnessing short term consolidation for the last few weeks. In terms of the price patterns, it has formed a triangle on the daily chart. Towards the end of the last week, the Nifty had formed a base near the lower end of the pattern. Consequently, the index took a leap on the upside & opened gap up on January 16. However, the index stumbled near the upper end of the pattern & stayed back into the pattern. Till the time the index trades above 17800 on a closing basis, the pattern is eventually expected to break out on the upside. The Nifty will be set for a larger bounce, once it crosses the near term barrier of 18050.

4:06 PM

MARKET COMMENT: Vinod Nair, Head of Research at Geojit Financial Services

In the event of subdued Q3 results, soft budget expectations and cliffing of global rates the market is contemplating with high volatility as these scenarios envelop the future trend.

3:58 PM

Over 1,600 stocks advanced, while 1,911 declined

3:53 PM

Adani Enterprises, Axis Bank, Hindalco top Nifty50 losers

3:50 PM

Tech Mahindra, HCL Technologies, Infosys top Nifty50 gainers

3:48 PM

Broader markets subdued; India VIX climbs nearly 4%

3:44 PM

Nifty IT, Nifty PSU Bank indices best sectoral performers

3:40 PM

SENSEX HEATMAP: 15 out of 30 stocks in positive territory

3:34 PM

CLOSING BELL: Nifty50 closes below 17,900 levels, down over 50pts

3:33 PM

CLOSING BELL: Over 150pts fall for Sensex, closes at 60,092

3:25 PM

Reliance Industries suspends natural gas auction from KG-D6 block

Reliance Industries Ltd and its partner bp plc on Monday suspended a planned auction for sale of natural gas from their KG-D6 block following changes in gas marketing rules, the firms said in a notice. READ MORE

Reliance Jio to roll out 5G in major Indian cities by October 2022.

3:17 PM

Indian exports decline 12.22% YoY to $34.48 billion in December: Govt data

The data, released by the commerce ministry, also showed that the country's imports in December 2022 dropped to $58.24 billion as against $60.33 billion in the same month the previous year. READ MORE

3:02 PM

Global Check:: UK stock futures flat; US down up to 0.6%

Source: Investing.com

2:52 PM

Market Check:: Sensex near day's low, down over 250 pts

2:43 PM

Paytm bank gets RBI nod to operate as Bharat Bill Payment Operating Unit

Under Bharat Bill Payment System (BBPS), a BBPOU is allowed to facilitate bill payment services of electricity, phone, DTH, water, gas insurance, loan repayments, FASTag recharge, education fees, credit card bill and municipal taxes. READ MORE

Paytm's Chief Executive Officer Vijay Shekhar Sharma addresses at Global Fintech Fest 2022, in Mumbai on Thursday.

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Topics : MARKET WRAP Markets Q3 results Markets Sensex Nifty stock markets Indian stock market S&P BSE Sensex BSE Sensex Nifty50 Nifty50 earning HDFC Bank Wipro Avenue Supermarts Avenue Supermarts D-Mart wholesale inflation

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First Published: Jan 16 2023 | 7:56 AM IST