F&O expiry: Nifty ends Jan series near 21,350; Sensex drops 360 pts

Stock market highlights on January 25, 2024: The frontlines were dragged by Tech M, Axis Bank, Bharti Airtel, HCL Tech, Kotak Bank, HDFC Bank, Wipro, Asian Paints

10:30 AM

DLF, Prestige, Sobha: CLSA downgrades select realty stocks. Here's why

CLSA has downgraded select real estate stocks and expects most counters from this sector to consolidate in the months ahead after the sharp run seen in them in the last few months. Most positive factors in terms of a pick-up in housing demand and office space absorption, it said, are already priced in. Read

10:15 AM

View: Rising bond yields in US key emerging risk

Since the tug of war between the FIIs and DIIs continues, volatility will remain high in the near-term. This volatility may be used by investors to churn their portfolios.

 

A significant anomaly in the market is the high valuation in some pockets and the fair and even attractive valuation in some other pockets.

For instance, some PSU stocks are flying high on hopes based on order flows. It will take a long time for these order flows like in ship building, for instance, to translate into profits. And there is no guarantee that it will happen.

On the other hand pockets like banking are fairly valued and the performance and prospects are good. There is value in bluechips like HDFC Bank.
 

The rising bond yields in the US is a matter of concern.

This rally in global stock markets was triggered by the Fed pivot which saw the 10-year bond yield falling from 5% to around 3.8%.

Now the 10-year is back at 4.18% which indicates that the Fed rate cut will come only in H2 of 2024. A significant take away from the Q3 results is the improving margins of the auto industry.

Views by V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.

9:57 AM

Bajaj Auto gains 2%; net profit rises 37% YoY in Q3

Bajaj Auto has recorded a 37% on-year growth in standalone net profit to Rs 2,042 crore.

Revenue grew 30% year-on-year to Rs 12,113.5 crore. 

9:52 AM

Mazagon Dock up 3% on winning contract worth Rs 1,070 crore

The company has signed a contract with the Acquisition Wing of the Ministry of Defense for the construction and delivery of 14 Fast Patrol Vessels (FPVs) for the Indian Coast Guard (ICG). 

9:47 AM

DCB Bank plunges 5% post Q3 results

The gross non-performing asset (NPA) ratio rose to 3.43% from 3.36% in the previous quarter.

9:42 AM

Axis Bank dips 2% to extend loss post weak earnings

9:38 AM

Tech M drops 5% on weak Q3 results

Tech M's Q3 profit slumped 61% YoY to Rs 510 crore. 

9:35 AM

PSB pocket leads gains; IT sinks 1%

9:32 AM

Smallcap index holds higher in weak market

9:29 AM

IT majors drag Nifty most

9:23 AM

Coal India, Britannia lead winners on Nifty

9:20 AM

Heatmap: NTPC, SBI lead gains on Sensex

9:18 AM

Opening Bell: Nifty dips to 21,410

9:16 AM

Opening Bell: Sensex starts 150 pts lower

9:09 AM

Pre-Open: Nifty flat