The Nifty 50 index was down 0.32% at 18,107.85 at close, while the S&P BSE Sensex declined 0.31% to 60,858.43.
“The crucial issue influencing equity markets globally is whether the U.S. will succeed in containing inflation without falling into a recession,” said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
“When data indicates a possible recession, U.S. markets go down and all other markets are impacted.”
U.S. data showed retail sales fell the most in a year in December, while manufacturing output recorded its biggest drop in nearly two years.
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HUL Q3 OUT: PAT: Rs 2510 cr vs ET NOW poll of Rs 2504 cr | Revenue: Rs 15228 cr vs ET NOW poll of Rs 14944 cr
PVR posts profit in Q3 versus loss a year ago
Consolidated revenue from operations was at Rs941 crore versus Rs 614 crore
Domestic indices snapped their previous gains amid negative sentiments from their global counterparts. Weak US consumer data and hawkish comments from the Fed’s policymakers on Wednesday hammered investor risk appetite. Lingering fears of recession dragged global bourses down, leaving the market volatile.
– Vinod Nair, Head of Research at Geojit Financial Services
India regulator probes investments between Nippon Mutual Fund, Yes Bank – sources
At the time, the parent company of the mutual fund was owned by the Anil Dhirubhai Ambani Group. Yes Bank was taken over by the central bank in 2020 and sold to a consortium of banks after a dramatic rise in toxic assets.
The Securities and Exchange Board of India (SEBI) is probing whether investments by the fund, known at the time as Reliance Mutual Fund, in perpetual bonds of Yes Bank were made as part of a deal whereby in return the lender invested in securities of Anil Ambani group companies, said two sources with direct knowledge of the matter. The sources declined to be named as the investigation is confidential.
SEBI’s regulations say that the parent of a mutual fund cannot access investors’ money either directly or indirectly.
PVR Q3 Results: PAT at Rs 15.9 cr vs loss of Rs 10.2 cr YoY | Cons revenue at Rs 940 cr vs Rs 614 cr YoY
Rupee ends down 0.15% at 81.3600 per U.S. dollar; previous close 81.2400
Closing Bell: Sensex snaps 2-day winning streak, ends 187 pts lower; Nifty holds 18,100; Vedanta jumps 3%, Adani Green tanks 7%
Top gainers & losers in closing trade
Price as on 19 Jan, 2023 03:31 PM, Click on company names for their live prices.
HAVELLS Q3 RESULTS
- PAT at Rs 284 cr vs Rs 306 cr YoY
- Revenue at Rs 4,119.7 cr vs Rs 3652 cr YoY
Happiest Minds Q3 Results
#EarningsWithETNOW | Happiest Minds Q3FY23: -Cons PAT at Rs 58 cr Vs Rs 59 cr QoQ -Cons revenue at Rs 367 cr Vs R… https://t.co/TM9dPXiZsX
— ET NOW (@ETNOWlive) 1674117345000
Top 5 gainers on NSE in today’s session
Price as on 19 Jan, 2023 02:49 PM, Click on company names for their live prices.
APNT has reported numbers below our/street estimates on all fronts. Volumes were flat YoY which was impacted by high base & extended monsoons in Oct which affected the festive demand. Margin recovery is a positive which we believe can continue into 4Q as well. However, APNT might settle for margins lower than historical given the expected entry of Grasim in Paints. We remain positive on APNT; however a re-rating looks unlikely given premium valuations and likely disruption due to the entry of a large player.
– Amnish Aggarwal – Head of Research, Prabhudas Lilladher
Balrampur Chini Mills to consider issue of non-convertible debentures up to Rs 140 crore
Price as on 19 Jan, 2023 02:12 PM, Click on company names for their live prices.
European stocks drop at open
European stock markets dropped at the open on Thursday following losses in Asia and on Wall Street, as the strong start to 2023 gives way to profit taking. London’s benchmark FTSE 100 index dropped 0.4 percent to 7,800.17 points. In the eurozone, Frankfurt’s DAX index shed 0.5 percent to 15,112.25 points and the Paris CAC 40 retreated 0.5 percent to 7,048.56.
ICICI Securities Q3 Results
- Revenue at Rs 880 crore, down 7% YoY, up 2% sequentially
- PAT at Rs 281 crore, down 26% YoY and 6% sequentially
Asian Paints Q3 Scorecard
#EarningsWithETNOW | @asianpaints Q3FY23: Cons revenue at Rs 8636.7 cr vs ET NOW poll of Rs 9,480 cr #AsianPaints… https://t.co/HNKL8ewlYv
— ET NOW (@ETNOWlive) 1674116013000
Asian Paints Q3 Results | PAT at Rs 1070 cr vs ET NOW poll of Rs 1156 cr
- Revenue at Rs 8637 cr vs ET NOW poll of Rs 9480 cr
Management commentary by Amit Syngle, Managing Director & CEO of Asian Paints.
The domestic Decorative Business registered a flat volume and value sales delivery for the quarter, on a very high price increase base in the previous year. The extended monsoon in October also affected retailing in the peak festival season; but demand picked up in November and December leading to a double-digit growth for the Decorative Business in December. Overall, on a 9 month basis, the Decorative Business continues to grow at healthy double digit volume and value growths with strong CAGRS. The operating margins improved strongly on sequential basis as well as saw an improvement on a y-o-y basis driven by deflation in some of the raw material prices as well as continued work on driving operational efficiencies across businesses. The Industrial Business did well led by strong growth in the Auto OE and General Industrial segments. The International Business was a mixed bag with good growth in the Middle East and Africa while the South Asia market, especially Sri Lanka and Bangladesh, got severely impacted by the adverse forex & macro-economic conditions. The Home Décor market continued its expansion foray but witnessed some slowdown in the Bath and the Kitchen business this quarter. We continue to work diligently on multiple strategic initiatives to further strengthen our business model and deliver sustained value to all our stakeholders.
Menon Bearings Dec-quarter net PAT rises to Rs 7.75 crore vs profit Rs 5.3 crore
Price as on 19 Jan, 2023 01:29 PM, Click on company names for their live prices.
These IT stocks are rallying in trade
Price as on 19 Jan, 2023 01:28 PM, Click on company names for their live prices.
Alembic Pharmaceuticals receives USFDA tentative approval for Acalabrutinib capsules
Price as on 19 Jan, 2023 01:28 PM, Click on company names for their live prices.
HSBC sees aggressive competition denting Zomato’s profitability, cuts target price
HSBC earlier had a target price of Rs 90.
“Slow industry and aggressive competition may impact growth in the third quarter, but profitability should continue to improve,” it said.
JLR India MD Rohit Suri resigns: ET Now
Price as on 19 Jan, 2023 01:05 PM, Click on company names for their live prices.
Adani Group CFO Jugeshinder Singh: Adani Enterprises’ businesses to be hived when they mature
#NewsAlert | Adani Group CFO Jugeshinder Singh: Adani Enterprises' businesses to be hived when they mature Adani t… https://t.co/jOJs5ueeAh
— ET NOW (@ETNOWlive) 1674113505000
Shradha Infraprojects will trade ex-split on January 20 with respect to the stock split announced along with its financial results. The company has split the face value of its shares from Rs 10 to Rs 5. The board has fixed January 21 as the record date for determining the eligibility of shareholders for the sub-division of shares.
Price as on 19 Jan, 2023 12:57 PM, Click on company names for their live prices.
Rashi Peripherals files for IPO: DRHP
- IPO consists of fresh issue of shares worth up to Rs 750 crore
Maruti Suzuki India on Thursday said it has commenced exports of mid-sized sports utility vehicle Grand Vitara, with the first shipment on its way to Latin America. The country’s leading carmaker and exporter aims to export the model to more than 60 countries across Latin America, Africa, Middle East, ASEAN and neighboring regions.
Price as on 19 Jan, 2023 12:16 PM, Click on company names for their live prices.
Japan’s Nikkei drops from one-month high as yen strength hurts exporters
Japan’s Nikkei share average dropped the most in two weeks on Thursday – retreating from a one-month high – as the effects of the Bank of Japan’s decision to not back away from stimulus faded, and a resurgent yen weighed on exporters. The Nikkei ended the day down 1.44% at 26,468.62, retracing more than half of Wednesday’s 2.5% rally, when the central bank defied bond market pressure and kept policy settings unchanged.
Tata Power Company says report on JSW, Greenko, Adani, Tata tapped for PTC India stake is speculative in nature
Price as on 19 Jan, 2023 12:05 PM, Click on company names for their live prices.
Kotak Pre-IPO fund buys minority stake in stent maker SMT
Kotak Pre-IPO Opportunities Fund has acquired a minority stake in India’s largest cardiac stents maker Sahajanand Medical Technologies (SMT) for Rs 170 crore, a top company executive said. The fund has acquired about 6% stake in SMT, valuing the company at Rs 2,800-3,000 crore, people aware of the development told ET. SMT, which holds about 31% share of total drug-eluting stents (DES) sales volume in the country, is backed by private equity majors Morgan Stanley and Samara Capital.
Check out the top losers from media & entertainment pack
Price as on 19 Jan, 2023 11:32 AM, Click on company names for their live prices.
Hindustan Zinc among top performing metal stock in morning session
Price as on 19 Jan, 2023 11:12 AM, Click on company names for their live prices.
Wild ride ahead? Last 4 Budgets have been volatile for Sensex
While many analysts argue that the importance of the Union Budget has reduced from a stock market perspective over the years, volatility has been rising since 2019 with Sensex making wild swings in the run-up to D-Day and after that.
Mahindra Lifespaces posts biggest intraday gain in over 3 weeks; Co says it was selected to redevelop two adjacent residential societies in Mumbai with a revenue potential of 500 crore rupees
Price as on 19 Jan, 2023 10:35 AM, Click on company names for their live prices.
Shares of IT firm Persistent Systems rallied 4.2% to Rs 4,128.7 in Thursday’s trade on BSE after the company reported a 34.9% year-on-year (YoY) rise in its net profit to Rs 237.9 crore for the quarter ended December 31, 2022. The company had reported a net profit of Rs 176.4 crore in the same quarter of the previous fiscal year.
Price as on 19 Jan, 2023 10:25 AM, Click on company names for their live prices.
Ahead of earnings…
Price as on 19 Jan, 2023 10:12 AM, Click on company names for their live prices.
Gold and silver prices ended negative in a volatile session on Wednesday, weighed down by profit taking by short-term futures traders while a rebound in the U.S. dollar index and falling crude oil prices also capped gains of precious metals. The U.S. data was mixed for bullion prices but weakness in the global crude oil prices and recession fears in the U.S. triggered profit taking in gold and silver. Add on to this the Japanese yen tumbled against the U.S. dollar as the Bank of Japan made a surprise move to keep its cap on the 10-year government bond yield at 0.5%. Gold and silver trades lower as Fed’s Bullard advocates front-loading rate hikes. We expect gold and silver to remain volatile in today’s session. Gold has support at $1892-1880 while resistance is at $1922-1935. Silver has support at $23.05-22.82, while resistance is at $23.62-23.80. In INR terms gold has support at Rs 56,080-55,780, while resistance is at Rs 56,580, 56,710. Silver has support at Rs 67,650-67,180, while resistance is at Rs 68,720–69,080.
– Rahul Kalantri, VP Commodities, Mehta Equities
Anil Agarwal-promoted Vedanta on Wednesday said it will acquire bankrupt thermal power company Meenakshi Energy for Rs 1,440 crore through an insolvency process. Vedanta which made the highest bid for the thermal power company emerged as the successful bidder.
Price as on 19 Jan, 2023 09:47 AM, Click on company names for their live prices.
Despite the enthusiastic push higher above 18100 yesterday, the proximity of key resistances ahead look tobe preventing Nifty from a free run. We will remain hopeful towards renewed attempts to scale them, as long as dips are held above 18047. As is, the upside breakout point has been pushed higher to 18270, while the lowerband is at 17,800.
– Anand James – Chief Market Strategist at Geojit Financial Services
KDDL board has approved buyback of up to 1,75,000 shares worth Rs 21 crore at Rs 2,100 apiece.
Price as on 19 Jan, 2023 09:27 AM, Click on company names for their live prices.
The crucial issue influencing equity markets globally is whether the US will succeed in containing inflation without falling into a recession. There is no consensus on this. When data indicate a possible recession, US markets go down and all other markets are impacted. Conversely, when data indicate the US economy dodging a recession, US markets go up triggering a rally in all other markets. This volatility will continue till there is clarity on the US recession issue. Early Q3 results indicate good performance by IT and banking. Bank Nifty is slightly weak on concerns of pressure from rising deposit costs. But the credit cycle is strong. IT numbers do not reflect recession fears. Trend indicates that the capital goods segment is strong.
– Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
STOCK IN FOCUS: JSW Energy
#StocksInNews | @JSWEnergy gets letter of awards for battery energy storage #JSWEnergy #StockMarket #StocksToWatch https://t.co/QW7LiB9YwC
— ET NOW (@ETNOWlive) 1674098292000
Rupee falls 15 paise to 81.45 against US dollar in early trade.
Top movers in morning trade
Price as on 19 Jan, 2023 09:21 AM, Click on company names for their live prices.
Opening Bell: Sensex falls 150 pts, Nifty below 18,150; Adani Enterprises, IndusInd Bank shed 2% each
Pre-open session: Sensex slips 70 points; Nifty below 18,125
Asian stocks slip after weak US consumer data stoked recession worries
Asian stock markets struggled to make headway on Thursday, after weak U.S. consumer data stoked recession worries and nudged investors toward safe assets such as bonds, while Japan’s yen rose as markets doubted the Bank of Japan’s policy commitments.
Quarterly earnings today
31 companies will release earnings for the quarter ended December. Asian Paints, HUL, Hindustan Zinc, Havells India, and L&T Technology Services among the major ones.
SGX Nifty signals a negative start
Nifty futures on the Singapore Exchange traded 83.5 points, or 0.46 per cent, lower at 18,138.50, signaling that Dalal Street was headed for a negative start on Thursday.
Tech View: Nifty above all major EMAs
Soaring above all major exponential moving averages, Nifty today formed a bullish candle on the daily chart. Today was the fourth time when the index made a higher high.
Tokyo shares open lower after US falls
Tokyo shares opened lower Thursday after global investors dumped Wall Street stocks as the latest US retail and wholesale data indicated slowing economic activity. The Nikkei 225 index fell 1.10 percent, or 295.86 points, to 26,495.26 in early trade, while the broader Topix index lost 0.90 percent, or 17.41 points, to 1,917.52.
Wall Street sinks after weak data, hawkish Fed comments
The S&P 500 and the Dow lost almost 2% on Wednesday, their biggest daily drops in more than a month, after weak economic data fueled recession worries while hawkish comments from Federal Reserve officials soured investor moods further.
Oil down 1% on another surprise build in U.S. crude stocks
Oil prices fell on Thursday after industry data showed a large unexpected increase in U.S. crude stocks for a second week, heightening concerns of a drop in fuel demand. U.S. West Texas Intermediate (WTI) crude futures declined by 86 cents, or 1.1%, to $78.62 a barrel at 0109 GMT, while Brent crude futures fell 73 cents, or 0.9%, to $84.25 a barrel, extending losses of around 1% from Wednesday.
Rupee rises 28 paise to 81.41 against US dollar
Snapping a three-day declining streak, the rupee rebounded 28 paise to close at 81.41 against the US dollar on Wednesday, tracking a weak greenback overseas and a firm trend in domestic equities.
Sensex, Nifty on Wednesday
The BSE Sensex index ended 390 points or 0.64% higher at 61,046, while Nifty50 rose 112 points or 0.62% to settle at 18,165.
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