Share Market LIVE: Sensex slips 656 pts, Nifty ends below 17,950; Infosys, Asian Paints, HUL top losers

The Indian market ended lower today amid negative global cues. Sensex closed 656 points lower at 60,098 and Nifty fell 174 points to 17,938. Infosys, Asian Paints, HUL, Nestle India and Bajaj Finance were the top Sensex losers, falling up to 2.77%.

The Indian market ended lower on Tuesday. Sensex closed 554 points lower at 60,754 and Nifty fell 195 points to 18,113.

Here's a look at the updates of the market action on BSE and NSE today.

3: 30 pm : Sensex closes 656 points lower at 60,098 and Nifty falls 174 points to 17,938. Infosys, Asian Paints, HUL, Nestle India and Bajaj Finance were the top Sensex losers, falling up to 2.77%.

2: 55 pm: Drug firm Lupin said it has inked a pact with Shenzhen Foncoo Pharmaceutical Co to sell products in China.

 2:45 pm: NTPC becomes top biomass user

State-run power giant NTPC has emerged as the top biomass user, having co-fired about 58,000 MT of biomass, while tendering a total of 10.7 MMT over short-term and long-term basis, the power ministry said on Wednesday.

2:35 pm: Nikkei falls to 5-month low dragged down by Toyota, Sony

Japan's Nikkei index fell to a five-month low on Wednesday, dragged down by Sony Group and Toyota Motor, tracking Wall Street's weak finish overnight. The Nikkei share average fell 2.8% to 27,467.23, its lowest since Aug. 20, while the broader Topix lost 2.97% to 1,919.72.

2:30 pm: Paytm share falls to record low

The stock of Paytm hit an all-time low of Rs 990 on BSE today. It has tanked over 49.5 per cent from its all-time high of Rs 1,961.05.

1: 45 pm : Broader market in red

BSE mid cap and small cap indices fall 229 points and 144 points, respectively. Market cap of BSE firm slides to Rs 273.84 lakh crore in afternoon session. 

1: 30 pm: Expert quote

Gaurav Garg, Head of Research, Capitalvia Global Research said, "The BSE Sensex is attempting to sustain a level of 60,027.58 points, or -1.20 percent, below the previous level of -727.28 points. The index features two companies that are rising and 28 companies that are falling. The broader market indices were down 0.94 percent and 0.58 percent, respectively, with the BSE Mid cap index down 0.94 percent and the BSE Small cap index down 0.58 percent. This could be attributed to an increase in Covid-19 instances, as traders were concerned by a WHO official's statement that Covid-19 might not end this year and become a part of life. "

12: 55 pm : Budget expectations

Parth Nyati, Founder, Tradingo said, "STT should be removed or at least reduced because initially it was introduced in the place of long-term capital gain tax but now, we have both LTCG and STT that is not fair for the Indian Investors.

The transaction cost in India is too high and LTCG and STT are seen as a sentiment dampener for the market, resulting in very few traders turning a profit."

12: 15 pm: Sensex falls 750 points to 60,003 and Nifty loses 209 points to 17,903.

11:30 am: Market Check

The benchmark indices were trading sharply lower on Wednesday. Sensex tanked over 450 points to 60,300 and Nifty fell 130 points to 17,982.

11:00 am:  Tata Motors in focus

Tata Tiago CNG, Tigor CNG to be launched today 

Tata Motors will launch the new Tiago and Tigor in CNG versions today. The company had started accepting pre-bookings for both models last week with a token amount of Rs 5,000 - Rs 10,000, depending on the location and variant.

Tata Motors is expected to charge a premium of around Rs 80,000 for CNG derivatives, and the price for Tata Tiago CNG is to begin at Rs 5.80 lakh and go up to Rs 8 lakh. At the same time, Tigor CNG is expected to cost Rs 6.50 lakh and go up to Rs 8.60 lakh.

Tigor was first launched in India by Tata Motors in 2017. Tigor will now become the first vehicle in the Indian market, which is offered with a petrol-only engine, battery power, and a petrol-CNG combo.
 

10:30 am: AGS Transact Technologies IPO in progress

Payments solutions provider AGS Transact Technologies opened its initial public offer (IPO) on January 19. The firm has fixed a price band of Rs 166-175 for the first IPO of 2022. The issue will close on January 21. The company is expected to list on exchanges on February 1.

The company raised Rs 204 crore from anchor investors on Tuesday.

It allotted over 1.16 crore equity shares to anchor investors at Rs 175 apiece, aggregating the transaction size to Rs 204 crore.

10:00 am: Bajaj Finance stock hits record high

Bajaj Finance shares climbed 3.82 percent today after the non-banking finance company reported an 85% rise in consolidated net profit for the quarter ended December 2021. The stock touched a record high of Rs 8,043.50, rising 3.82% on BSE. Bajaj Finance stock is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.

The large cap stock has gained 58.68% in one year and has risen 12.83% since the beginning of this year. The share has gained 14.05% in a month. Total 0.23 lakh shares of the firm changed hands amounting to a  turnover of Rs 18.46 crore on BSE.

9:40 am: L&T Tech shares tank 8% in early trade post Q3 numbers

Shares of L&T Technology Services Limited (LTTS) tanked 8 per cent to hit an intraday low of Rs 4992.95 on BSE after the company posted its earnings for the quarter ended December 2021.

The company reported a 33.7 per cent year-on-year (YoY) growth in consolidated net profit for October-December at Rs 248.8 crore. On a quarter-on-quarter (QoQ) basis, profit was up 8.2 per cent.
 
The company's revenue grew 20.5 per cent YoY and 5 per cent QoQ to Rs 1,687.5 crore during the quarter under review, while earnings before interest, tax, depreciation and amortisation (EBITDA) rose 33.3 per cent YoY and 5.2 per cent QoQ to Rs 367.5 crore.

9:16 am: Market opening

Indian benchmark indices opened lower amid weak global cues. At 09:18 hours, the 30-share BSE index was trading 160.6 points lower at 60,594.23, and the broader NSE Nifty was down 40 points to 18,072.85.

Wipro was the top loser in the Sensex pack, declining over 2 per cent, followed by Tech Mahindra, IndusInd Bank, Infosys, ICICI Bank and Asian Paints.

Bajaj Finance and Tata Steel were among the top Sensex gainers.

9:10 am: Market at Pre-open

The benchmark indices were trading higher in the pre-open session. Sensex was trading 90.7 points higher at 60,845.5 and Nifty was up 16 points at 18,129.20.

8:55 am: Pre-Market Comment from Mohit Nigam Head - PMS, Hem securities

Asia-Pacific markets were trading mostly lower while wall street's indexes fell sharply on Tuesday as tech shares continued seeing selling pressure as U.S. Treasury yields rose to milestones. Close to confirming a 10% correction for the first time since early 2021, the Nasdaq dropped most among major indexes.

Indian equity benchmarks failed to hold intra-day recovery and closed at day's low on Tuesday tracking deep losses in basic materials, realty and telecom stocks amid widespread selling pressure in global markets.

Markets may witness volatile session as Bajaj Auto, Larsen & Toubro Infotech, JSW Energy, Aptech, CCL Products (India), Ceat, JSW Ispat Special Products, Mastek, Nelco, Saregama India, Tata Communications, Tata Investment Corporation, Tejas Networks, Trident Texofab and some others will release quarterly earnings on January 19.

On the technical front, the key resistance levels for Nifty50 are 18,300 followed by 18,450 and on the downside 18,000 followed by 17,700 can act as strong support. Key resistance and support levels for Bank Nifty are 38,500 and 37,900 respectively.

8:45 am: Global Markets

Wall Street's main indexes fell sharply on Tuesday as weak results from Goldman Sachs weighed on financial stocks and tech shares continued their sell-off to start the year as U.S. Treasury yields rose to milestones.

On Wall Street, the S&P 500 ended 85.7 points lower at 4,662.85, the Nasdaq Composite declined 386.8 points to 14,506.90 and the Dow Jones dropped 543.34 points to 35,368.47.

In Asia, Nikkei Weighted index was down 1.81 per cent and Hang Seng was trading 0.35 per cent higher. Shanghai Composite was down 0.16 per cent.

8:40 am: FII and DII action

Foreign institutional investors (FIIs) sold shares worth Rs 1,254.95 crore on January 18, and domestic institutional investors (DIIs) offloaded shares worth Rs 220.2 crore, as per provisional data available on NSE.

8:35 am: Rupee slumps 33 paise

Continuing its fall for the third consecutive session, the rupee on Tuesday slumped 33 paise to close at 74.58 (provisional) against the U.S. dollar as strong American currency and elevated crude oil prices continue to weigh on investor sentiments.

Forex traders said muted domestic equities and dollar buying by banks on behalf of importers also dragged the local unit down.

8:30 am: SGX Nifty

The Indian equity market is likely to open on a flat note as SGX Nifty was down 68.5 points to 18,105 at 8:30 am.

Singapore Nifty (SGX Nifty) is the Indian Nifty index that is traded in the Singapore Stock Exchange and is considered to be the first indication of the opening of the Indian market.

8:15 am: Market on Tuesday

The Indian market ended lower on Tuesday. Sensex closed 554 points lower at 60,754 and Nifty fell 195 points to 18,113. Maruti, UltraTech Cement, Tech Mahindra and HCL Tech were the top Sensex losers, falling up to 4.05%.

Axis Bank, HDFC Bank, ICICI Bank, and Kotak Bank were the top Sensex gainers, rising up to 1.83% today.

BSE mid cap and small cap indices crashed 574 points and 597 points, respectively.

Of 30 Sensex shares, 23 ended in the red. Market cap of BSE-listed firms rose to Rs 276.24 lakh crore.