Share Market Updates: Sensex rises 672 points, Nifty tops 17,800; RIL, Titan climb over 2%

Benchmark indices extended gains in the second trading session of 2022 today. Sensex ended 672 points higher at 59,855 and Nifty climbed 179 points to 17,805 .Of 30 Sensex shares, 25 ended in the green. Market cap of BSE listed firms rose to Rs 271.40 lakh crore.

NTPC, SBI and PowerGrid were the top Sensex gainers , rising up to 5.56%.

Earlier, Indian benchmark indices opened higher amid firm global cues. At 09:16 hours, the 30-share BSE index rose 186 points to 59,369.27, and the broader NSE Nifty was up 38 points to 17,663.90.

On Monday, Sensex ended 929 points higher at 59,183 and Nifty rallied 271 points to 17,625.

Here are all the live updates from Dalal Street!

 3:45 pm: Expert Comment

Vinod Nair, Head of Research at Geojit Financial Services said, "Tracking strong momentum of global peers, domestic bourses witnessed a smooth sail, steered by index heavyweights and gains in financials and consumer durables. Despite surging covid cases, investor sentiments remain positive globally as reports suggest lower impact of the new variant on the economic recovery. However, India's unemployment rate rose to 7.9% in December as compared to 7% in November owing to muted economic activity in rural and urban India amid rise in Omicron cases."

3: 30 pm: Sensex and Nifty end in the green in second consecutive session of 2022. Sensex closes 672 points higher at 59,855 and Nifty climbs 179 points to 17,805 .

2:45 pm: Moody's assigns 'Baa2' rating to RIL bonds

Ratings agency Moody's Investors Service on Tuesday assigned a 'Baa2' rating with a stable outlook to the proposed dollar-denominated senior unsecured bonds to be issued by Reliance Industries Ltd (RIL).

2:10 pm: India's spends record $55.7 billion on gold imports in 2021

Govt source India splurged a record $55.7 billion on gold imports in 2021, buying more than double the previous year's tonnage as a price drop favoured retail buyers and pent up demand emerged for weddings that were delayed when the pandemic first hit. The previously unreported details of the world's second biggest consumer nation's soaring imports were disclosed to Reuters by a senior government official who requested anonymity as he was not authorised to speak to media.

1: 30 pm: Jindal Steel logs record production in December

Jindal Steel and Power stock trading flat at Rs 385.15 on BSE. The private steel maker has reported a record 30 per cent rise in its standalone production and 25 per cent growth in sales during December 2021. The company's total production from its plants in India was at 7.27 lakh tonne (LT) in December, up from 5.59 LT during the same month in 2019.

1:10 PM: Tata Communications, Zain KSA ink pact

Mumbai-based Tata Communications and Zain KSA have inked a pact to bring Smart City Solutions to Saudi Arabia. Tata Communications shares trading 1.53% lower at Rs 1,424 on BSE.

12: 45 pm: Affle India stock hits 52-week high

Share of (Affle India) zooms 14.62% to hit a fresh 52-week high of Rs 1,368 on BSE. Affle India stock trades higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages and has gained 21.44% in five days.

12: 30 pm: Market breadth is positive with 1,811 stocks rising against 1,492 falling on BSE.

12:06 pm: Sensex rises 380 points, Nifty holds 17,700; NTPC, SBI top gainers

The 30-share BSE index zoomed over 380 points to 59,576.54, and the broader NSE Nifty was up 94 points at 17,720.40. NTPC and SBI were the top gainers on Sensex.

UltraTech Cement and Sun Pharma were among the top losers.

Also read: Tata Motors shares slip 2% after CLSA cuts target price

11: 50 am: HDFC Bank Q3 Update

The bank’s advances “aggregated to approximately Rs 12,60,000 crore as of December 31, 2021, a growth of around 16.4 per cent over Rs 10,82,300 crore as of December 31, 2020, and a growth of around 5.2 per cent over Rs 11,98,800 billion as of September 30, 2021.
 
HDFC Bank also reported an uptick on the deposits front. Its deposits amounted to around Rs 14, 46,000 crore as of December 2021 versus over Rs 14, 06,300 crore as of September 2021. The filing said that retail deposits grew by around 17 per cent over December 2020 and around 4 per cent over September 2021.
 

11:30 am: Rupee falls 26 paise

The rupee declined by 26 paise to 74.54 against the US dollar in opening trade on Tuesday, tracking the strength of the American currency in the overseas market. 

Forex traders said growing concerns over the Omicron variant of coronavirus and its impact on economic recovery as well as firm crude oil prices weighed on the local unit.

11:20 am: Sectoral performance

Of the 30 Sensex shares, 7 were trading lower. NTPC was the top gainer on Sensex, advancing over 4%, followed by PowerGrid, SBI, Kotak Mahindra Bank and Axis Bank.

BSE mid-cap and small-cap indices rose 15 points and 20 points, respectively. On the sectoral front, power and banking stocks edged higher while IT stocks were among the top losers.

10:55 am: Lemon Tree Hotels stock zooms 10%

Shares of Lemon Tree Hotels surged 10% in early trade today after Goldman Sachs (Singapore) Pte bought 30 lakh shares from Zaaba Pan Asia Master Fund in a block deal.

Market cap of the firm rose to Rs 4,004 crore. Total 45.25 lakh shares of the firm changed hands amounting to a turnover of Rs 22.87 crore on NSE.

Goldman Sachs (Singapore) Pte.- ODI acquired 30,02,214 equity shares or 0.37 percent stake in Lemon Tree Hotels. The block deal was done at Rs 46.6 per share.

10:30 am: FIIs turning buyers

"US markets setting record highs on the first trading day of 2022 is auspicious for global stock markets. The spectacular 271 point rally in Nifty and FIIs turning buyers with net purchases worth Rs 703 crore are bullish signals,” V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said.

If the FIIs buying of Monday is an indication of their renewed interest in India, financials particularly the leading banks, are likely to continue the momentum witnessed in the previous session, he noted.

"However, the third wave of the pandemic is an area of concern even though the market's view is that it is unlikely to impact economic activity. The big headwind for markets globally is the rising inflation which may be further aggravated by the dislocations caused by the Omicron variant," he added.

10:10 am: Sensex zooms over 300 points, Nifty above 17,700

Benchmark indices were trading sharply higher. The 30-share BSE index rose 336 points to 59,519.37, and the broader NSE Nifty was up 85 points at 17,711.05.

9:50 am: Marico shares tank 3%

Shares of Marico declined 3 per cent to hit an intraday low of Rs 498.20 on the Bombay Stock Exchange. The FMCG player clocked double-digit revenue growth for the quarter ended December. Consumption was seen slowing in the entire sector with inflation affecting disposable incomes.

9:35 am: Shares of Tata Motors trade lower

Shares of Tata Motors were trading 1 per cent lower after CLSA lowered its rating on the Tata Group auto firm to 'sell' from 'buy' and reduced its target price. 

The firm's domestic passenger vehicle business is overvalued while JLR lags in electrification. The brokerage has reduced its target price to Rs 408 against the earlier Rs 450.

9:16 am: Market opening

Indian benchmark indices opened higher amid firm global cues. At 09:16 hours, the 30-share BSE index was trading 186 points higher at 59,369.27, and the broader NSE Nifty was up 38 points to 17,663.90

NTPC was the top gainer in the Sensex pack, advancing over 1 per cent, followed by Maruti Suzuki, Tata Steel, Axis Bank, M&M and Bajaj Finserv.

HDFC Bank and HCL Tech were among the top Sensex losers.

9:10 am: Market at Pre-open

The benchmark indices were trading higher in the pre-open session. Sensex was trading 160 points at 59,343.79 and Nifty was up 55 points at 17,681.40.

8:50 am: Pre-market comment by Mohit Nigam, Head - PMS, Hem Securities 

Benchmark Indices are expected to open on a flat note as suggested by trends on SGX Nifty. American and European Market ended positive on the previous trading day. 

Healthy buying in the banking and financial pack even as investors remained cautious over the spike in Omicron cases. Sentiments got a boost as the Finance Ministry said GST revenue collected in December 2021 was over Rs 1.29 lakh crore, 13 per cent higher than the same month last year. 

On the sectoral front, aviation industry stocks were in watch as aviation turbine fuel (ATF) price has been hiked by Rs 2,039.63 per kilolitre, or 2.75 per cent, to Rs 76,062.04 per kl in the national capital. Merchandise exports have crossed $300 billion in this fiscal so far and have achieved the highest ever exports in Q3 at $103 billion and the government said that we are Well on target and may exceed the target of $400 billion in exports this fiscal.

On the technical front, Nifty managed to sustain above 17,600 levels.  Immediate support and resistance in Nifty 50 are 17,400 and 18,000 respectively. Bank Nifty immediate support and resistance are 36,000 and 37,000 respectively.
 

8:40 am: FII and DII action

Foreign institutional investors (FIIs) bought shares worth Rs 902.64 crore on January 3, and domestic institutional investors (DIIs) lapped up shares worth Rs 803.11 crore, as per provisional data available on NSE.

8:30 am: SGX Nifty

The Indian equity market is likely to open on a flat note as SGX Nifty was up 5 points to 17,687.50 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: Global Markets

The S&P 500 and Dow Jones Industrial Average posted closing record highs on the first trading day of the year on Monday.

On Wall Street, the S&P 500 ended 30.38 points higher at 4,796.5, the Nasdaq Composite added 187.83 points to 15,832.80 and the Dow Jones rose 246.7 points to 36,585.06.

In Asia, Nikkei Weighted index was up 1.5 per cent and Hang Seng added 0.3 per cent. Shanghai Composite and Kospi were down 0.1 per cent each.

8:10 am: Market on Monday

Benchmark indices staged a stellar rally in the first trading session of 2022, led by gains in banking and auto stocks amid a spike in Covid-19 cases.  

Sensex ended 929 points higher at 59,183 and Nifty rallied 271 points to 17,625.

Bajaj Finance was the top  Sensex gainer, rising 3.50 per cent, followed by Bajaj Finserv, Tata Steel, ICICI Bank and IndusInd  Bank. Dr Reddy's, M&M, Tech Mahindra and Nestle India were the only Sensex losers falling up to 1.13%.