RIL, Axis Bank help Sensex, Nifty settle in green; broader indices outrun

Closing Bell on Thursday, January 11: Shares of Reliance Industries rose over 2 per cent for a second straight day, followed by Axis Bank, Ultratech Cement, Tata Motors, Power Grid

3:51 PM

Tech View :: 'Breakthrough above 48,000 will lead to short-covering in Bank Nifty'

The Bank Nifty index witnessed ongoing struggles between bulls and bears, leading to a volatile trading session. A significant hurdle for the index is identified at 48,000, marked by substantial call writing.

A decisive breakthrough above this level is anticipated to trigger a sharp short-covering rally. On the downside, the lower-end support remains intact at 46,900. A close below this support level may intensify selling pressure in the market.

Views by: Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities.

3:49 PM

Tech View :: 'Nifty's support has shifted to 21,600'

Nifty faced selling pressure within the 21,700-21,750 range, yet found stability as it held above its 10-day moving average, concluding the session with a positive close.

Presently, Nifty's immediate support has shifted to 21,600, while 21,730 serves as a resistance level on the technical chart. The broader positional support for Nifty remains at 21,500.

Views by: Kunal Shah, Senior Technical & Derivative Analyst, LKP Securities

3:47 PM

Comment :: What all happened in the markets today?

In anticipation of inflation data from the US, the Indian market exhibited range-bound trade. Though investors anticipate US inflation to ease, global markets, expecting a CY24 interest rate cut, have already priced in optimism.

Profit booking occurred amid moderating Q3 corporate earnings and concerns about premium valuations. Selling pressure on IT stocks stemmed from weak earnings estimates.

Views by: Vinod Nair, Head of Research, Geojit Financial Services.

 

3:45 PM

Currency check :: Rupee ends 1 paisa higher

3:43 PM

SmallCap Heatmap :: Index ekes out 0.79% gain

3:42 PM

MidCap Heatmap :: Index closes 0.66% Thursday

3:41 PM

Nifty Heatmap :: Hero Moto, RIL, Axis Bank do the heavy lifting

3:39 PM

CLOSING BELL :: Nifty settles below 21,650

3:38 PM

CLOSING BELL :: Sensex ends 63 pts higher after fag-end volatility

3:29 PM

India's financial conditions improved significantly in Dec: CareEdge

India’s equity market got its strongest-ever monthly inflows (of $7.9 trillion) from foreign portfolio investors (FPIs) in December 2023, the highest since December 2020. The strong rally in the Indian equity market in December has driven the price to earnings (PE) ratio above 25, suggesting strong valuations. READ MORE

3:20 PM

Reliance Ind extends rally, surges over 5% in two days; stock hits new high

Meanwhile, RIL has outperformed the market by surging 11 per cent in the past one month, as compared to 2.6 per cent rise in the S&P BSE Sensex. However, in the past six months (down 1.8 per cent) and 1-year (up 7.6 per cent), RIL has underperformed the market. In comparison, the benchmark index rallied 10 per cent in the past six months and 19.4 per cent in the past one year. READ MORE

3:08 PM

Global Check:: US, UK stock futures trade with steady gains

Source: Investing.com

2:55 PM

ALERT:: GTPL Hathway Q3 net dips 9%; stock sinks 6%

GTPL Hathway reported a 8.7 per cent decline in Q3 net profit at Rs 19.13 crore for the quarter ended December 2023 as against Rs 20.95 crore in the year ago period. Total income, however, was up 16 per cent YoY at Rs 521.69 crore from Rs 449.69 crore.

2:44 PM

ALERT:: HDFC AMC Q3 net jumps 33%; stock trades flat

HDFC AMC (Asset Management Company) today reported a 32.6 per cent growth in Q3 net profit at Rs 489.72 crore for the quarter ended December 2023 when compared with Rs 369.40 crore in the corresponding quarter a year ago. Total income grew 22.8 per cent YoY to Rs 813.75 crore from Rs 662.93 crore.

2:34 PM

IFSC needs to ready platform where green credits can be traded: Sitharaman

Last year the government had decided to allow listed and unlisted companies to directly list themselves on the IFSC (International Financial Services Centre) exchanges at GIFT City. READ MORE