Domestic stocks looked set to took a breather following a relentless five-day rallr after the US policymakers hinted at a Fed rate hike in March. The US stocks settled lower overnight and most Asian markets were down in morning trade. Technical charts for domestic indices too were showing fatigue at large and overbought market conditions. All eyes back home were on HCL Tech ahead of its Q3 earnings later today.
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Top 10 gainers at this hour
Price as on 14 Jan, 2022 02:03 PM, Click on company names for their live prices.
Markets regulator Securities and Exchange Board of India (Sebi) is learnt to have cleared new-age logistics startup Delhivery’s Rs 7,460 crore initial public offering (IPO) proposal, people aware of the matter said. Gurugram-based Delhivery becomes the first top-tier startup this year to have obtained Sebi’s nod to list on domestic bourses.
JSW Infra raises USD 400 mn in maiden international bond sale
Sajjan Jindal-led JSW Group’s port development arm on Friday announced a USD 400 million fundraise through a bond issue from international investors. The money raised in the issue by JSW Infrastructure will be used to repay the existing debt of the company and its subsidiaries. The issue of the sustainability linked bond (SLB) is its debut issue in international bond markets, and the company could manage final pricing, which was lower than the guidance, as per an official statement.
Jubilant Foodworks said the Board of Directors will consider stock split on Feb 2; stock jumps 3%
Price as on 14 Jan, 2022 12:56 PM, Click on company names for their live prices.
Crypto in focus: Dogecoin
Tesla merch buyable with Dogecoin
— Elon Musk (@elonmusk) 1642141130000
STOCKS IN FOCUS: Railtel
#ETNOWExclusive | Railtel floats EoI for data centers; plans to rope in #Adani, #Tata, #HiranandaniGroup, Jio for i… https://t.co/jL3YeqG4AL
— ET NOW (@ETNOWlive) 1642144313000
Pharmaceuticals will be the contrarian sector of this year. It has underperformed over the last couple of years, and I believe it is very under-owned. You hardly see any of the pharma stocks in any portfolio. Some funds have some Cipla here or there, some funds have some midcap pharma stocks like Divi’s etc, but on the larger cap side, it is very-very under-owned. Sun Pharma we own from much lower, and I am still positively inclined because of the kind of performance it has given over the last few quarters.
– Sandip Sabharwal
Budget session of Parliament to start on Jan 31: Agencies
JUST IN: India’s WPI inflation eases to 13.56% in December from 14.23% in November
We are seeing a pullback after a vertical rally on the back of some weakness in global markets however there are no such negative cues for the market. If we look at the statistics then Indian Equity markets do well in the first two weeks of January but then it starts to correct near to Makar Sankranti or in between 15-20th January. Then there is a post-budget rally in the market. This trend may be replicated this year as well but the overall view is bullish and any pullback will be a good buying opportunity. Technically, 18000 is an immediate psychological support level while 17800/17650 are critical support levels.
– Santosh Meena, Head of Research, Swastika Investmart
JUST IN: Aditya Birla Fashion to acquire 51% stake in House of Masaba for Rs 90 crore
Sugar stocks gain, rise up to 4%
Price as on 14 Jan, 2022 11:38 AM, Click on company names for their live prices.
Shares of Motherson Sumi Systems dropped 22 per cent on Friday ahead of the company’s record date for the demerger of its wiring harness undertaking. The board of auto parts maker has fixed the record date for the scheme of arrangement as Monday, January 17. According to the stock exchange intimation, existing Motherson stock will trade ex-domestic wiring harness from Friday.
Top gainers & losers from hospitality space
Price as on 14 Jan, 2022 10:44 AM, Click on company names for their live prices.
JUST IN: Ashoka Buildcon emerges the lowest bidder (L-1) for a project at Rs 829.49 crore
Price as on 14 Jan, 2022 10:20 AM, Click on company names for their live prices.
AGS Transact Technologies will launch its initial public offering (IPO) on Wednesday, January 19. Mumbai-based company will sell its shares in the range of Rs 166-175. The public issue is purely an offer of sale (OFS) of equity shares by the promoter. As a part of the OFS, promoter Ravi B Goyal will sell shares worth up to Rs 680. This means the company will not receive any proceeds from the issue sale. The company has cut the issue size to Rs 680 crore from Rs 800 crore earlier.
Anchor lock-in period ends for Shriram Properties, RateGain
Price as on 14 Jan, 2022 09:45 AM, Click on company names for their live prices.
Inflation is turning out to be a major worry for markets this year. December PPI inflation in the US has spiked to a record 9.7%. Inflation in the Euro Zone is already at record highs. If inflationary expectations get entrenched, the Fed will have to act early, perhaps in March itself. ECB too is likely to follow suit. Even though such an emerging scenario is unfavorable for equity, markets may not react negatively since the high negative real return from fixed income makes returns from equity attractive. Since retail investors are now a force to reckon with, whether in the US or India, their response to market corrections on rate hike expectations will be crucial. FIIs again moving to sell mode ( Rs 1391 cr selling yesterday) may act as temporary headwind for some large private banking stocks in which FIIs have large holdings. This can turn out to be a buying opportunity for long-term investors.
– Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
Earnings Impact: Mindtree shares tank 5% post Q3 numbers
Price as on 14 Jan, 2022 09:33 AM, Click on company names for their live prices.
BUZZING STOCK: Paytm continues to slide, hits fresh low
Top movers on NSE in opening trade
Price as on 14 Jan, 2022 09:27 AM, Click on company names for their live prices.
Top Sensex drags in opening trade
Sensex drops 455 points, Nifty below 18,150; Mindtree tanks 3%, HDFC 2%
Aurobindo Pharma: Company has received a warning letter from the USFDA for Hyderabad Unit. This action follows the recent inspection of the Unit by the USFDA in August 2021. The Company believes that this will not impact the existing business from this facility.
Price as on 14 Jan, 2022 09:09 AM, Click on company names for their live prices.
Pre-open session: Sensex sheds 150 points, Nifty50 below 18,150
NEWS ALERT: Glenmark Specialty S.A. (Switzerland) receives NDA approval by the US FDA for Ryaltri nasal spray for the treatment of symptoms of seasonal allergic rhinitis in adults and pediatric patients 12 years of age and older
HCL Tech Q3 preview: Up to 20% YoY drop in profit likely
HCL Technologies is likely to report a year-on-year (YoY) double-digit fall in December quarter profit despite a double-digit rise in sales. Analysts expect a sharp fall in Ebitda margins although, they said, the IT major will likely maintain its revenue (constant currency) and Ebit margin guidance for FY22.
SGX Nifty signals a negative start
Nifty futures on the Singapore Exchange traded 38.50 points, or 0.21 per cent, lower at 18,262, signaling that Dalal Street was headed for a negative start on Friday.
Tech View: Nifty50 shows signs of fatigue
Nifty50 on Thursday traded in a narrow 108-point range for another session and closed where it opened, thus forming an indecisive Doji candle on the daily chart. The bulls are showing signs of fatigue and given the overbought situation, it is time for caution, said analysts. Some momentum oscillators are suggesting that the upmove in the short term is stretched and needs a pause.
Dollar heads for weekly loss as longs lose faith
The dollar headed for its largest weekly fall in eight months on Friday as investors trimmed long positions and deemed, for now, that several U.S. rate hikes this year are fully priced in. The dollar index is down about 0.9% for the week, on course for its largest weekly percentage fall since last May and set to halt a rally that has lasted about six months. The index last held at 94.849 in quiet Asia trade.
Hong Kong shares sharply down at open
Hong Kong stocks opened with big losses Friday morning after a number of top Federal Reserve officials pushed for a more hawkish approach to fighting inflation. The Hang Seng Index fell 1.00 percent, or 243.91 points, to 24,185.86. The Shanghai Composite Index eased 0.31 percent, or 11.19 points, to 3,544.07.
Tokyo shares open lower after US losses
Tokyo shares opened lower on Friday after US tech shares dived on expectations of higher interest rates. The benchmark Nikkei 225 index dropped 1.48 percent or 421.69 points to 28,067.44 in early trade, while the broader Topix index lost 1.36 percent or 27.33 points to 1,978.25.
US stocks fall as Fed speakers put rate hikes in focus
Wall Street’s major indices closed lower on Thursday with Nasdaq’s 2.5% drop leading the losses, while multiple Federal Reserve officials were out talking about inflation and interest rate hikes. The Dow Jones Industrial Average fell 176.7 points, or 0.49%, to 36,113.62, the S&P 500 lost 67.32 points, or 1.42%, to 4,659.03 and the Nasdaq Composite dropped 381.58 points to 14,806.81.
Rupee rises for 5th day against dollar
Strengthening for the fifth straight session, the rupee climbed 3 paise to close at 73.90 against the US dollar on Thursday, tracking a weak greenback overseas. At the interbank forex market, the rupee opened at 73.91 against the greenback and witnessed an intra-day high of 73.84 and a low of 73.97. It finally settled at 73.90, a rise of 3 paise over its previous close.
Sensex, Nifty on Thursday
Equity indices ticked higher for the fifth session on the…