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Stock Market Highlights: Sensex ends 673 points higher, Nifty reclaims 17,800; NTPC surges 6%, SBI 3%

CNBCTV18 logo CNBCTV18 04-01-2022 Sandeep Singh

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15:50:19 IST

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Market At Close | NTPC, ONGC, SBI, Power Grid top blue-chip gainers

On the other hand, Tata Motors, Coal India, Tata Consumer, Sun Pharma and Shree Cement were the worst hit among the 15 laggards in the Nifty50 pack. 

Here's how the 30-scrip Sensex basket fared:

15:36:05 IST

Closing Bell | Sensex up 673 points at 59,856, Nifty reclaims 17,800 as market extends gains to third straight day

The 30-scrip index rose 672.7 points or 1.1 percent to end at 59,855.9, and the broader Nifty50 benchmark settled at 17,805.3, up 179.6 points from its previous close. Gains in financial, oil & gas and IT shares pushed the headline indices higher, though losses in pharma stocks limited the upside. (Read more on the closing bell)

15:31:22 IST

CARE upgrades JSL (Hisar) long-term rating with 'stable' outlook

Ratings agency CARE has upgraded the long-term rating for JSL (Hisar) to 'AA-' from 'A+'.

Jindal Stainless (Hisar) shares were down 1.1 percent at Rs 362 apiece in the final minutes of the session.

15:29:41 IST

Business Update | RateGain Q3 best quarter in terms of new contract wins

RateGain said the third quarter of FY22 was the best for it in terms of new contract wins. 

The customer count increased to 2,264 in Q3, from 1,462 as of August 31, 2021, it said. 

RateGain shares were up 2.7 percent at Rs 384.4 apiece on BSE minutes before the closing bell. 

15:20:50 IST

IRCON emerges lowest bidder for Rs 861-crore NHAI project in Uttarakhand

IRCON shares were up 1.5 percent at Rs 46.1 apiece on BSE minutes before the closing bell.

15:16:44 IST

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Reliance Industries, HDFC, TCS, ICICI Bank top Sensex movers

Stocks such as SBI, Kotak Mahindra Bank, HUL and NTPC were also among the top contributors to the gain in the 30-scrip index. 

Disclaimer: Network18, the parent company of CNBCTV18.com, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.

15:01:58 IST
Will apply to NCLT for completing merger with Exide Life: HDFC Life Insurance
 
HDFC Life Insurance acquired 100 percent equity shares of Exide Life, making the latter its fully owned subsidiary company. Niraj Shah, CFO of HDFC Life Insurance, told CNBC-TV18 the company has concluded the first steps of its transaction with Exide Life. (Read more)
 
At 3:00 pm, HDFC Life shares were barely up at Rs 651.5 apiece on BSE. 
14:59:22 IST

Rural demand hit by continuing inflation, don’t see adverse impact on margin: Emami

In an interview to CNBC-TV18, Harsha Vardhan Agarwal, Director at Emami, said the company has seen strong demand globally since June 2021. However, there’s been a slight slowdown in rural demand, he said. 

“The situation is much better and the kind of growth that we saw for the last one-and-a-half year, there might be certain challenges going forward because of inflation,” he said. (Read more on Emami)

14:56:46 IST

Momentumisers | Ambuja Cements in the spotlight

Ambuja Cements has lost 13-14 percent of its market capitalisation since the highs seen in September 2021. In the F&O market, the stock has moved up but no without any big buildup in open interest. Fundamentally, things look up in Q4 for cement companies. (Read more on Ambuja Cements shares)

14:52:26 IST

Alembic Pharma gets final USFDA nod for generic Doryx tablets

Alembic Pharma has got the final US drug regulator's nod for Doxycycline Hyclate DR tablets, used in the treatment of drug-resistant bacteria. Its market size is around $10 million. (Read more on Alembic Pharma)

Alembic Pharma shares were up three percent at Rs 833.6 apiece on BSE in late afternoon deals.

14:45:57 IST

Looking to buy new-age co stocks? What Envision Capital's Nilesh Shah suggests

2021 has been one of the most remarkable years for the primary market with a slew of new-age companies like Zomato, Paytm, Latent View and more taking to Dalal Street. But is this a good time to invest in the stocks of new-age companies? In an interaction with CNBC-TV18, Nilesh Shah, Managing Director of  Envision Capital, revealed he remains positive on new-age businesses but advised investors to wait for a "weak phase" before buying into the emerging space.

14:35:56 IST

Short-term traders have to watch when results come in for IT cos: Rohit Srivastava, Founder & Strategist, Indiacharts.com

“IT stocks front-run their earning season. We have seen them start performing from December in anticipation of what should be a good earning season, but what tend to happen is that as and when the results start coming out, some of them peak out. So they will continue to be performer, medium-term, but short-term traders would have to watch as and when results come in and there is excitement around.”

14:25:47 IST

Market Watch | Buy Praj Ind, L&T, says Shrikant Chouhan, Kotak Securities

- Praj Industries is a buy with a stop loss of Rs 335 and a target of Rs 370-375.

- L&T Technology Services is a buy with a stop loss of Rs 5,790 and a target of Rs 6,000.

14:16:29 IST

Market Watch: JC Parets, All Star Charts

Nifty IT can have a great year, another 20-25% of upside for the Nifty IT index in itself. And I think the individual components can go ahead and outperform. You've got 40-45% upside in TCS, if TCS is above Rs 3,500 per share, you can own it. I think it goes to Rs 5,000.

13:57:21 IST

Market Watch | Buy SBI, Airtel: Ajit Mishra of Religare Broking

- State Bank of India is a buy with a stop loss of Rs 470 and a target of Rs 500

- Bharti Airtel is a buy with a stop loss of Rs 689 and a target of Rs 720

  13:41:13 IST

We will have to impose lockdown in Mumbai if daily COVID cases cross the 20,000-mark: Mumbai Mayor Kishori Pednekar

13:33:39 IST

Vedanta share price declines over 6%; here’s why

Vedanta Limited’s share price declined more than 6 percent during Tuesday’s trading session after the company’s aluminium production figures failed to please investors. At 12 noon, the Vedanta shares were down 5.37 percent at Rs 334.60 on the BSE and were trading 5.43 percent lower at Rs 334.60 on the NSE.

13:20:41 IST

Bank of Maha Q3 Biz Update

Deposits up 2.8% QoQ & up 15.2% YoY; loan growth at 12% QoQ & 23% YoY.

13:07:59 IST

Delhi imposes weekend curfew as COVID-19 cases surge, private offices to work at 50% capacity: Sources

Amid a spike in COVID-19 cases in the national capital, the Delhi Disaster Management Authority (DDMA) has imposed a weekend curfew, sources told CNBC-TV18. The Aam Aadmi Party government has pushed for 'work from home' barring essential services with effect from midnight, they said.

Private offices can work at 50 percent capacity, they added. The decision was taken during a meeting of the DDMA on Tuesday. (Read more on Delhi weekend curfew)

12:56:04 IST

Bank of Maharashtra sees robust loan growth in Q3

Here are some highlights: 

Particular Value YoY change (%) QoQ change (%)
Deposit Rs 1,86,614 crore 15.2 2.8
Advance Rs 1,29,052 crore 23 12
CASA Rs 1,02,731 crore 24.6 53.9

The lender's CASA ratio stood at 55.05 percent in the third quarter of FY22, as against 53.91 percent in the previous quarter, and 50.91 percent in the quarter ended December 2020.

12:46:40 IST
Business Update | HDFC Bank, Federal Bank loan growth at around 5% sequentially in Q3
 
Here are some highlights: 
 
Outperformance or gained market share (QoQ)
 
--HDFC Bank (highest growth amongst lenders that have shared Nos.) 
--Federal Bank 
--CSB Bank
--Karur Vysya Bank
 
Below industry level loan growth (QoQ)
 
--YES Bank
--Karnataka Bank
--IDFC First Bank
 
Loan growth (QoQ)
 
--HDFC Bank: 5.13%
--Federal Bank 4.6%
--CSB Bank 3.77%
--Karur Vysya Bank 3.61%
--YES Bank 2.07%
--Karnataka Bank 1.96%
--IDFC First Bank 1.9%
12:34:01 IST
7 banks share business updates for Q3; industry level loan growth at 7.25% 
 
At the industry level, loan growth has been at 7.25 percent on a year-on-year basis and 3.26% on a quarter-on-quarter basis. 
 
Here are some highlights: 
 
Outperformance or gained market share (on a YoY basis):
 
--HDFC Bank (highest growth amongst lenders that have shared Nos.) 
--Federal Bank 
--CSB Bank
--IDFC First bank
 
Below industry level loan growth (YoY)
 
--Karur Vysya Bank
--Karnataka Bank
--YES Bank
 
Loan growth (YoY)
 
--HDFC Bank: 16.42%
--Federal Bank: 12.06%
--CSB Bank: 11.55%
--IDFC First Bank: 10.48%
--Karur Vysya Bank: 7.06%
--Karnataka Bank: 6.27%
--YES Bank: 3.95%
12:29:58 IST

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HDFC Q3 loans assigned up 5.5% 

12:08:40 IST

Tata Communications in strategic agreement with Zain KSA

Tata Communications has entered a strategic agreement with Zain KSA for digital solutions in Saudi Arabia.

The Tata Communications stock was down 0.9 percent at Rs 1,433.7 apiece on BSE at noon. 

11:58:28 IST

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What semi-fungible tokens are, and how they differ from NFTs

A semi-fungible token (SFT) can change its state from fungible, like a Bitcoin, to non-fungible, like any NFT.

SFTs start as a fungible token, and transform into a non-fungible one. (Learn more about semi-fungible and non-fungible tokens)

11:56:00 IST

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Bond Market Action | HPCL, Godrej Industries, ICICI Securities in focus today

--HPCL will raise funds through a three-month commercial paper at a 3.63 percent coupon.

--Godrej Industries will raise funds through a three-month commercial paper at a 4.02 percent coupon.

--ICICI Securities will raise funds through a three-month commercial paper at a 4.35 percent coupon. (Catch other key bond deals today)

11:53:51 IST

Buy Axis Bank, ICICI Bank: Mitessh Thakkar

Here are two trading calls from Mitessh Thakkar of earningwaves.com:

--Buy Axis Bank for a target price of Rs 720 with a stop loss at Rs 697 

--Buy ICICI Bank for a target of Rs 790 with a stop loss at Rs 765 

Thakkar said the realty space is still recovering from a decline. "We haven’t got signals of a new uptrend starting over here. We are getting a good pullback. DLF is one of the stocks that are outperforming. An important observation here is that yesterday, we got a low of Rs 390.5 and today, we got a low of Rs 391, and that’s where the intraday averages are placed. As long as it is above Rs 390, expect this bounce back to continue to about levels of Rs 418-420 on the upside," he added.

11:47:52 IST

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India's trade deficit widens; highest-ever exports, imports in December 

India exported goods worth $37.29 billion in December 2021 -- the highest-ever in a month, up 37 percent on a year-on-year basis. The country’s imported goods also touched a historic high, as they rose 38 percent to $59.27 billion. The country's trade deficit widened to $22 billion in December from $22.9 billion in hte previous month.

The rise in exports was led by petroleum products, gems and jewellery, and engineering goods. Imports were led by crude oil, gold and electronic goods. (Read more on trade numbers)

11:39:26 IST

Near-term uncertainties developing due to Omicron: Wells Fargo

In the near term, some uncertainties are developing due to the Omicron variant of COVID-19, according to Gary Schlossberg, Global Strategist at Wells Fargo Investment Institute. He also said the Omicron will have a bigger impact on inflation versus economic growth.

“We are already seeing some disruption in the United States and to a lesser or greater extent overseas,” he told CNBC-TV18. (Read more)

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