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

3:51 PM

Tech View :: 'Nifty consolidating between 21,520 and 21,220'

Nifty50

On the daily charts, we can observe that the counter trend rally faced resistance at the zone of 21,520 – 21,550. On the downside, 21,240 – 21,220 zone acted as a support zone where the 40-day moving average is placed.

Thus, the Nifty is consolidating within these two parameters. A breach of this range shall lead to a move in that direction.

The hourly momentum indicator has a positive crossover which is a buy signal and hence there can be a minor degree bounce up to 21,520 – 21,550 before it resumes next leg of the fall.

 

Bank Nifty

Bank Nifty has witnessed a sharp pullback from intraday lows though closed marginally in the red. On the hourly charts, we can observe that there is a positive divergence and a positive crossover which indicates loss of momentum on the downside and indicates that there can be a relief rally going ahead till 45,500- 45,700. On the downside, 44,600 – 44,500 is the crucial support zone.

Views by: Jatin Gedia – Technical Research Analyst at Sharekhan by BNP Paribas 

3:43 PM

Currency check :: Rupee ends at 83.11/$ vs Wednesday's close of 83.13/$

3:42 PM

Broader markets :: SmallCap index outperforms peers, rises 0.5%

3:41 PM

Broader markets :: MidCap index erases gains, dips 0.36%

3:39 PM

NIFTY HEATMAP :: Tech M sinks 6% post Q3; Cipla, Airtel, LTIMindtree other drags

3:37 PM

CLOSING BELL :: Nifty ends near 21.350 amid selling in IT, pharma stocks

3:36 PM

CLOSING BELL :: Sensex resumes selling, ends 360 pts lower

3:30 PM

ALERT :: Zomato Payments gets RBI's nod to operate as payments aggregator

>> Zomato Payments Private Limited, a wholly-owned subsidiary of Zomato Limited, has been granted certificate of authorization to carry out the business, inter alia, as payment aggregator and issuer of pre-paid payment instruments from the Reserve Bank of India 

3:21 PM

Q3 results :: JSW Steel reports net profit of Rs 2,415 crore

>> Ebitda at Rs 7,180 crore vs Rs 4,547 crore Y-o-Y

>> Ebitda margin at 17.12% vs 11.62% Y-o-Y

>> Lowers Capex to Rs 1,800 crore vs Rs 2,000 crore

3:14 PM

Punjab National Bank Q3 profit jumps over three-fold to Rs 2,223 cr

Its total income increased to Rs 29,962 crore during the quarter under review against Rs 25,722 crore in the same period last year, PNB said in a regulatory filing. READ MORE

3:00 PM

SBI Life falls 3% as Q3 profit declines over last quarter

Net profit falls to Rs 322 crore in Q3 from Rs 380 crore in Q2. In the year-ago quarter, its profit was Rs 304 crore. 

2:49 PM

HDFC Bank sees period of consolidation as it absorbs mega merger: Report

HDFC Bank, India's largest private sector lender, will take 4-5 years to fully digest its merger with its parent last July but expects to restore a key financial metric to pre-merger levels at the end of that period, two sources familiar with the bank's thinking said. Read

2:37 PM

Q&A | Canara Bank has increased lending rates for NBFCs by 15-50 bps: CEO

Canara Bank will not sacrifice margins for growth and it will be conscious about the cost, be it for lending or raising funds, K SATYANARAYANA RAJU, managing director and chief executive officer of the public sector lender, tells Business Standard. Read

2:25 PM

Dhanlaxmi Bank at 9-yr high, hits 10% upper circuit; zooms 69% in two weeks

Shares of Dhanlaxmi Bank (DBL) surged 10 per cent on BSE to hit the highest level in over nine years on Thursday. The stock was locked in the 10 per cent upper circuit at Rs 51.20, its highest level since August 2014. Read

2:13 PM

Hindenburg report anniversary: We have emerged stronger, says Gautam Adani

A year after a damning report by a US short seller ripped through his apples-to-airport conglomerate, billionaire Gautam Adani on Thursday said the "trials and tribulations" of the past year have made the Adani group stronger as it continued on growth path, improving asset base and launching key projects, including the Dharavi redevelopment. Read