The Indian market snapped its five-day gaining streak today. Sensex closed 12 points lower at 61,223 and Nifty fell 2 points to 18,255. Asian Paints, Axis Bank and HUL shares were the top Sensex losers, falling up to 2.66% on BSE. BSE mid cap and small cap indices rose 58 points and 153 points, respectively.
Market cap of BSE-listed firms rose to Rs 278.49 lakh crore against Rs 278.14 lakh crore in the previous session. Of 30 Sensex shares, 18 ended in the red.
The rising number of Covid-19 and Omicron cases in India and the world will dictate the course of the stock market this year, say experts.
Here's a look at the updates of the market action on BSE and NSE today.
3: 35 pm: Tata Sons, TICL to participate in TCS mega buyback offer, to sell shares worth Rs 12,993 crore.
3:30 pm: Market closes flat
Sensex closed 12 points lower at 61,223 and Nifty fell 2 points to 18,255.
3: 00 pm: Equity-oriented funds drive MF assets to record high in 2021
Driven by a surge in inflows into equity-oriented funds, assets under management (AUM) of mutual funds surged to a record high of Rs 37.73 lakh crore in 2021, up 22 per cent from that in the previous year, says a report by Crisil. Moreover, the net incremental inflow of Rs 6.70 lakh crore in 2021 is also a record over the previous peak of Rs 4.80 lakh crore in 2017, and Rs 4.5 lakh crore in 2020.
2: 45 pm: Global economy growth pegged at 4% in 2022: UN report
The global economy is pegged to grow by 4 per cent in 2022 after expanding by 5.5 per cent in 2021, and grow 3.5 per cent in 2023 in wake of the new waves of COVID-19 infections, rising inflation, labour market challenges, and supply-chain constraints, as per a UN report published on Thursday.
2: 05 pm: Budget session to begin on Jan 31; Union Budget to be tabled on Feb 1
The first part of the Budget session of the Parliament will begin from January 31 and will last till February 11. Second part of the session will begin on March 14 and last till April 8. The Union Budget 2022-23 will be tabled on February 1.
The government is likely to consider functioning of the Lok Sabha and the Rajya Sabha in shifts during the upcoming Budget session, as per news agency ANI. If proposal is approved, Rajya Sabha will function from 9 am- 2 pm in the first shift whereas Lok Sabha will function from 3 pm- 8 pm except on the Budget Day. On the Budget Day, the Lok Sabha will function in the first shift.
1: 45 pm: LG Energy Solution IPO attracts $80 billion in bids from overseas investors
South Korean battery maker LG Energy Solution's (LGES) $10.7 billion initial public offering (IPO) has received bids worth around $80 billion from international institutional investors, two sources with direct knowledge of the deal said.
The book for the offering, which is the largest ever in South Korea, will close on Wednesday with deal pricing set for Friday.
1: 30 pm: Mindtree share slips over 5%
Mindtree share price slipped over 5% today despite the firm reporting a healthy set of earnings in Q3 of the current fiscal. The IT services company posted a 34% rise in consolidated net profit at Rs 437 crore for the quarter ended December 2021 against Rs 326 crore logged in the same period last year.
The stock has fallen after 3 days of consecutive gain. The stock opened with a loss of 2.19% at Rs 4,640 on BSE.
It touched an intraday low of Rs 4477.25, falling 5.62% on BSE.
12:45 pm: WPI inflation eases to 13.56% in December
The wholesale price-based inflation (WPI) across the country eased to 13.56% in December, according to data released by the Ministry of Commerce & Industry. It stood at 1.95% in December 2020. The WPI had surged to over a decade high of 14.23% in November (2021) owing to hardening of prices of basic metals, mineral oils, natural gas, and crude petroleum. The WPI for October was revised to 13.83% from 12.54%, the data showed.
12: 15 pm: Market update
Sensex falls 242 points to 60,992 and Nifty declines 64 points to 18,193. Asian Paints, Axis Bank and Nestle India shares are the top Sensex losers, falling up to 3.06% on BSE.
11: 45 am: Aditya Birla Fashion to buy 51% stake in House Of Masaba Lifestyle for Rs 90 crore
11: 20 am: AGS Transact Technologies IPO to open on Jan 19
Payments solutions provider AGS Transact Technologies has fixed a price band of Rs 166-175 a share for its initial public offering (IPO). The issue will remain open from january 19 to January 21. The firm is expected to list on exchanges on February 1.
Also read: AGS Transact IPO to open on Jan 19, price band fixed at Rs 166-Rs 175
11: 10 am: HCL Tech share trading lower ahead of Q3 earnings
The share of IT major fell 3.03% to Rs 1,292.8 against the previous close of Rs 1,333.25 on BSE.
11: 05 am: Paytm share zooms over 8% from day's low
Paytm stock rises 8.60% to Rs 1,080.60 on BSE. Earlier, the stock hit a low of Rs 995.
10: 45 am: Rakesh Jhunjhunwala raises stake in Titan
Ace investor Rakesh Jhunjhunwala has raised stake in jewellery-watches-to-eyewear maker Titan Company to 5.09 percent at the end of quarter ended December 2021. Titan Company share is trading 0.88% lower at Rs 2,595 against the previous close of Rs 2,618 on BSE.
10: 25 am: Rate hike in US
Federal Reserve policymakers this week signaled they will start raising US interest rates in March to battle inflation that's eroding the value of workers' recent wage gains and putting the policysetters under a political spotlight.
10: 15 am: Market cap on BSE falls
Market cap of BSE-listed firms falls to Rs 277.66 lakh crore against Rs 278.14 lakh crore in the previous session.
10:00 am: Market breadth
Market breadth is positive with 1,833 stocks rising against 1,204 falling on BSE. 100 shares are unchanged.
9: 35 am: RIL share in the green, firm to invest Rs 5.95 lakh crore in Gujarat
Reliance Industries Limited (RIL) has signed a Memorandum of Understanding (MoU) with the Gujarat Government for a total investment of Rs 5.95 lakh crore in various projects as part of the Investment Promotion Activity for Vibrant Gujarat Summit 2022. These projects are expected to create 10 lakh direct/ indirect employment opportunities in Gujarat.The large cap stock is trading 0.78% higher amid a weak market. The stock rose 0.81% to Rs 2,556 on BSE
9: 30 am: Expert comment
Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services said, "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 unfavourable 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"
9: 15 am: Market opens in red
Sensex falls 379 points to 60,856 and Nifty slips 112 points to 18,145. HCL Tech, HDFC, Axis Bank and Asian Paints shares are the top Sensex losers, falling up to 2.69%.Of 30 Sensex stocks, 25 were trading in the red.
8:40 am: Previous session updates
On Thursday, the Indian equity market closed in the green for the fifth consecutive session. Sensex rose 85 points to 61,235 and Nifty ended 45 points higher at 18,257. Tata Steel, Sun Pharma and L&T were the top Sensex gainers, rising up to 6.35%.
8: 30 am: FIIs in action
Foreign institutional investors (FIIs) sold shares worth Rs 1,390 crore on January 13, and domestic institutional investors (DIIs) lapped up shares worth Rs 1,065 crore, as per provisional data available on NSE.
8: 20 am: Global markets
In Asia, Kospi was trading 43 points lower at 2,919. Nikkei tanked 543 points to 27,945 and Hang Seng index fell 195 points to 24,234. On Wall Street, the S&P 500 lost 67.32 points to 4,659. The Dow fell 176 points to 36,113. The Nasdaq Composite declined 381 points to 14,806.