Sensex falls 260 pts in fag-end, Nifty holds 21,550; FMCGs crack, PSBs soar

Stock market highlights on January 20, 2024: Among sectors, the Nifty IT, and FMCG indices fell 1 per cent each, while the Nifty PSU bank index added 1.9 per cent

10:55 AM

Interim Budget to cut fiscal deficit in election year, focus on capex: Poll

The government is aiming to narrow the fiscal deficit to 4.50% of GDP by the end of the 2025-26 fiscal year (FY) from 5.90% in the current year to end-March 2024. READ MORE

10:43 AM

Donald Trump suggests Nikki Haley out of running for VP pick as insults fly

Haley served as UN ambassador under Trump and the two fell out after she announced that she would run for the Republican nomination. READ MORE

10:29 AM

Hindustan Unilever slips 3%; hits 2-month low post December quarter results

The company said weak rural consumer sentiment and delayed winter were behind its underwhelming performance. READ MORE

10:18 AM

Prataap Snacks slips 2% on issuing clarification related to Haldiram's stake buy

With respect to reports that Haldiram's is looking to buy a majority stake in the company, Prataap Snacks said the company is not aware of any information that has not been announced to the Exchanges..

10:06 AM

COMMENT:: FII selling not strong enough to pull markets down

"The recent correction in the market has not changed the underlying uptrend in the market. FII selling is being countered by sustained DII and retail buying. And the strength of the economy is providing fundamental support to the market. Therefore, FII selling is not strong enough to pull down the market hugely, unlike in the past when FIIs used to call the shots. This feature of the market can be utilised by investors to buy quality stocks which come under short term pressure due to FII selling. It is important to buy high quality stocks in performing sectors since many unproven stocks in the broader market are flying high on hopes rather than on fundamentals or strong prospects. Hyper speculative/ trading activity has pushed many mid and small cap stocks to frothy valuations. Correction in these stocks is only a matter of time."

 

- Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services
 

9:58 AM

Paytm up 1% as firm narrows loss in Q3

One97 Communications, the parent company of fintech major Paytm, saw its net loss narrow down to Rs 221.7 crore on a consolidated basis in Q3FY24 from a loss of Rs 392 crore in Q3FY23, and Rs 291.7 crore in Q2FY24. The Noida-based fintech firm’s revenue from operations rose 38.2 per cent to Rs 2,859.5 crore year-on-year.

9:52 AM

ICICI Bank trades on a flat note ahead of Q3 results today

Q3FY24 preview: Private sector lender ICICI Bank may clock margin compression in the range of 15 to 25 basis points (bps) in the December quarter on the back of re-pricing of deposit rates during the quarter. READ MORE

9:47 AM

Market check:: Sensex pares gain, now up 100 pts

9:36 AM

HUL down 2% on muted Q3 performance

Hindustan Unilever reported a 1.4 per cent rise in Q3FY24 consolidated net profit at Rs 2,509 crore when compared with Rs 2,474 crore in Q3FY23. Revenue dipped marginally by 0.3 per cent YoY to Rs 15,294 crore. Read More

9:31 AM

Reliance trades flat post Q3 results

Reliance Q3 consolidated net profit grew 9.3 per cent year-on-year (YoY) to Rs 17,265 crore, led by retail and telecom business. Revenue increased by 3.9 per cent YoY to Rs 2.25 trillion. Read More

9:27 AM

BSE SmallCap Heatmap:: Sigachi, RVNL soar up to 10%; Tejas Network down 5%

9:25 AM

BSE MidCap Heatmap:: IRFC, GIC RE, IRCTC zoom over 4%

9:23 AM

Market check:: Broader indices outperform marginally; India VIX down 1%

9:21 AM

Sensex 30 Heatmap:: Power Grid, NTPC shine; RIL, HUL whine

9:17 AM

Opening Bell:: BSE Sensex up 300 pts, tests 72,000-mark