Share Market HIGHLIGHTS: Sensex ends 1,053 pts lower, Nifty50 slumps to 21,242 dragged by financial, oil & gas, FMCG stocks
Share Market HIGHLIGHTS: Domestic equity benchmarks Nifty50 and Sensex continued to fall for a second straight session amid volatile trade on Tuesday, as financial, oil & gas, FMCG and metal shares. NSE's India VIX index, widely known in market parlance as the volatility index, leaps 7.6 per cent to 14.9.
Catch minute-by-minute updates of all the action on Dalal Street today, market commentary and analysis, the views of Zee Business Managing Editor Anil Singhvi and other experts, stock recommendations, and much more only on Zeebiz.com's blog:
Share Market HIGHLIGHTS: Domestic equity benchmarks Nifty50 and Sensex continued to fall for a second straight session amid volatile trade on Tuesday, as financial, oil & gas, FMCG and metal shares. NSE's India VIX index, widely known in market parlance as the volatility index, leaps 7.6 per cent to 14.9.
Catch minute-by-minute updates of all the action on Dalal Street today, market commentary and analysis, the views of Zee Business Managing Editor Anil Singhvi and other experts, stock recommendations, and much more only on Zeebiz.com's blog:
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Share Market Today: Overall market breadth remains extremely negative in the second half of the day
At the end of the session, overall market breadth on BSE favours the bears in a big way, with an advance-decline ratio of 3:10 as only 940 stocks close higher against 2,988 laggards.
Share Market Today: Broader indices Nifty Midcap 100, Nifty Smallcap 100 indices fall over 3%
| Index | Jan 23 close | Change (%) |
| NIFTY 500 | 19,206.45 | -2.02 |
| NIFTY MIDCAP 50 | 13,049.05 | -3.15 |
| NIFTY MIDCAP 100 | 46,569.60 | -3.11 |
The Nifty 500, the broadest index on NSE, finishes two per cent lower, its worst slide in over a month.
Share Market Today: IndusInd Bank, Coal India, SBI Life, ONGC, Adani Ports worst hit among 40 Nifty50 losers; Cipla, Sun Pharma, Bharti Airtel, ICICI Bank, Dr Reddy's top gainers
Here are some of the top gainers and losers in the 50-scrip blue-chip basket:
| Stock | Jan 23 close | Change (%) |
| CIPLA | 1,407.95 | 6.97 |
| SUNPHARMA | 1,379.75 | 4.04 |
| BHARTIARTL | 1,157.10 | 2.97 |
| ICICIBANK | 1,027.90 | 1.9 |
| DRREDDY | 5,682.00 | 0.83 |
| HEROMOTOCO | 4,432.85 | 0.71 |
| APOLLOHOSP | 6,133.65 | 0.18 |
| BAJAJ-AUTO | 7,105.15 | 0.14 |
| LTIM | 5,659.00 | 0.04 |
| BAJAJFINSV | 1,581.10 | 0.01 |
| HINDALCO | 541.3 | -3.52 |
| HDFCLIFE | 585.6 | -3.68 |
| HINDUNILVR | 2,373.50 | -3.86 |
| BPCL | 464.15 | -3.92 |
| SBIN | 606 | -4.02 |
| ADANIPORTS | 1,142.00 | -4.27 |
| ONGC | 231 | -4.57 |
| SBILIFE | 1,375.00 | -4.66 |
| COALINDIA | 376.55 | -5.58 |
| INDUSINDBK | 1,440.45 | -6.18 |
Share Market Today: Nifty Healthcare top gainer among NSE's sectoral indices, up 1.8%
| Index | Jan 23 close | Change (%) |
| NIFTY MEDIA | 2,067.30 | -12.87 |
| NIFTY REALTY | 816.15 | -5.31 |
| NIFTY PSU BANK | 5,806.85 | -4.1 |
| NIFTY OIL & GAS | 10,013.15 | -3.47 |
| NIFTY METAL | 7,486.85 | -3.43 |
| NIFTY CONSUMER DURABLES | 30,911.20 | -2.29 |
| NIFTY BANK | 45,015.05 | -2.26 |
| NIFTY PRIVATE BANK | 23,167.60 | -2.21 |
| NIFTY FINANCIAL SERVICES | 20,137.05 | -1.97 |
| NIFTY FMCG | 54,973.90 | -1.79 |
| NIFTY AUTO | 18,361.00 | -1.56 |
| NIFTY IT | 36,521.35 | -0.48 |
| NIFTY PHARMA | 17,520.30 | 1.66 |
| NIFTY HEALTHCARE INDEX | 11,146.90 | 1.81 |
Closing Bell | Sensex sheds 1,053 pts, Nifty below 21,250 as bears remain in charge for 2nd straight session
Share Market Today LIVE | India overtakes Hong Kong as fourth largest stock market; here is what experts say
The Indian stock market, as per reports, has pipped Hong Kong as the fourth largest stock market globally. The data compiled by Bloomberg revealed that the total value of shares listed on Indian bourses scaled to USD 4.33 lakh crore in the previous session as against USD 4.29 trillion for Hong Kong.
Among the top equities markets globally, the US markets hold the top spot, followed by China and Japan. India’s equity markets m-cap breached USD 4 lakh crore levels for the first time in December last year.
“Cumulatively, the past 12 months have been stellar for investors who parked their money in Indian stocks. Though there has been some turbulence, the calendar year 2023 gave handsome monetary dividends to stock market investors. In 2023 itself, Sensex and Nifty gained 17-18 per cent, on a cumulative basis,” pointed out an ANI report. Read more
Share Market Today LIVE | Sensex tanks 1,000 pts, Nifty near 21,250 dragged by financial, oil & gas stocks
Share Market Today LIVE | Oberoi Realty posts weak results for Q3; stock declines
Shares of Oberoi Realty, a Mumbai-based leading real estate firm in the country, decline over nine per cent on NSE to trade at Rs 1,366.1. The selling pressure comes after the company posted weak Q3FY24 numbers.
On Monday, the Mumbai-based realty company posted a 49 per cent decline in consolidated net profit to Rs 360.15 crore for the December quarter. Its net profit stood at Rs 702.57 crore in the year-ago period. Read more
Share Market Today LIVE | IDFC First Bank slides over 7% after good Q3 results, poor guidance; brokerage cuts target price
IDFC First Bank stock slides nearly seven per cent on BSE at Rs 81.7 on Tuesday (January 23, 2024) after the lender reported good results but a weak guidance in the December-quarter results.
IDFC First Bank Q3 results
The results of the company are good, but the guidance for the next five years is soft. After the results, brokerage Morgan Stanley has cut the target.
The company's net interest income soared by 30.5 per cent in the December quarter while its profit after tax was higher by 18.4 per cent in the same duration. Its provisions saw a rise of 45.4 per cent Year-on-Year (YoY) and 23.9 per cent Quarter-on-Quarter (QoQ). Read more
Share Market Today LIVE | United Spirits trades flat ahead of Q3 result announcement; here is what to expect
Shares of United Spirits (USL Ltd), the subsidiary of Diageo, trade over 0.01 per cent higher at Rs 1,108.9 apiece on the NSE on Tuesday, January 23, ahead of its Q3 FY24 (October-December) result announcement, due later in the day. The company is expected to report a good set of numbers for the quarter under review.
Zee Business Research analysts expect the liquor company to report standalone revenue of Rs 2,997 crore, up 7.7 per cent year-on-year (YoY) against Rs 2,781 crore logged in the year-ago period.
EBITDA, or earnings before interest, taxes, depreciation, and amortisation, is expected to jump 19.2 per cent YoY to Rs 439 crore. The company had posted an EBITDA of Rs 368 crore in Q3 FY23. Read more
Share Market Today LIVE | Cipla posts better-than-estimated Q3 results; stock hits all-time high
Cipla shares clock an all-time high of Rs 1,409 apiece on Tuesday (January 23). The stock draws buyers' interest after the pharmaceutical company posted better-than-estimated Q3FY24 results.
Shares of drug major Cipla trade 6.77 per cent or Rs 89.1, higher on the NSE at Rs 1,405.35 apiece. The market capitalisation of the company at around the same time stood at Rs 1,13,46,200.62 lakh. On January 22, Cipla announced its third-quarter results that ended December 31, 2023, where the company posted a 32 per cent increase in consolidated net profit at Rs 1,056 crore for the period, on the back of robust sales across geographies. Read more
Share Market Today LIVE | Should you buy Colgate-Palmolive, Persistent Systems, ICICI Bank, L&T, other stocks today? Here's what brokerages say
Here's what Goldman Sachs, CLSA, Jefferies, HSBC, Morgan Stanley, JPMorgan, Macquarie, Citi and Nomura make of stocks such as ICICI Bank, Persistent Systems and Colgate
Palmolive share target price
JPMorgan has an 'overweight' rating on the stock with a target of Rs 1,180, while Macquarie has an 'outperform' rating with a target of Rs 1,190
Coforge share target price
- Jefferies, Nomura and HSBC each have a 'buy' call on Coforge with targets of Rs 7,400, Rs 7,300 and Rs 6,930, respectively. Citi, on other hand, has a 'sell' rating on Coforge with a target of Rs 4,910.
- Morgan Stanley has an 'overweight' rating on Coforge with a target of Rs 7,200.
- Macquarie has an 'outperform' rating on Coforge with a target of Rs 6,410.
Persistent Systems share target price
- HSBC has a 'buy' call on Persistent Systems with a target of Rs 9,875, while Citi has a 'sell' call on the stock with a target of Rs 5,470.
- JPMorgan and Nomura each have a 'neutral' rating on Persistent Systems with targets of Rs 7,200 and Rs 7,600, respectively.
IDFC First Bank share target price
Morgan Stanley has an 'equal-weight' rating on IDFC First Bank with a target of Rs 85.
Colgate-Palmolive share target price
Goldman Sachs, Citi and CLSA each have a 'sell' rating on Colgate-Palmolive for targets of Rs 1,900, Rs 2,000 and Rs 2,001, respectively. On the other hand, HSBC and Jefferies each has a 'buy' call on the stock, with targets of Rs 2,900 and Rs 2,930, respectively. Read more
Share Market Today LIVE | Can Fin Homes shares slide on higher provisioning, muted disbursements; what should investors do?
Can Fin Homes shares face selling pressure on Tuesday, extending losses to a second straight session, after the NBFC reported a mixed bag of quarterly financial results. The NBFC stock falls by as much as Rs 27.4, or 3.6 per cent, to Rs 741.5 apiece on BSE, after falling 3.1 per cent in the previous session.
During market hours on Saturday, Can Fin Homes reported a year-on-year increase of 32.1 per cent in net profit to Rs 200.1 crore for the October-December period. Its income from operations grew to Rs 901.9 crore for the fiscal third quarter, from Rs 709.7 crore a year ago, according to a regulatory filing.
The company’s net interest margin (NIM), a key measure of profitability, improved by 12 basis points sequentially to a seven-quarter high of 3.92 per cent. Read more
Share Market Today LIVE: Sensex slumps 1,290 pts from day's high, Nifty50 sinks below 21,400 dragged by financial, oil & gas stocks
The Sensex plunges to as low as 70,749.2, a sharp fall from its intraday high of 72,039.2, while the Nifty slides to as low as 21,356.5, having risen to as high as 21,750.3 earlier in the day, amid heavy selling pressure in stocks such as HDFC Bank, Reliance, Axis Bank, SBI and HUL.
Image: Niftyindices.com