Sensex Crash Today: Stock Market Highlights Today: Nifty forms a long black candle on daily chart. What does it signal for tomorrow's trade? - The E
On a manic Monday, equity investors were left looking for relief as the market crash extended to the fifth straight session amid increasing geopolitical tensions and rising inflation. All sectors were deep in the red. The advance-decline ratio was in favour of losers. Tech stocks were especially beaten down during the session, taking cues from heavy sell-off in the US tech stocks. The 30-share pack Sensex crashed 1,545.67 points or 2.62 per cent to close at 57,491.51. The index has fallen about 3,820 points in the last five sessions. Its broader peer NSE Nifty fell 468.05 points or 2.66 per cent to 17,149.10.
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The Dow Jones Industrial Average fell 194.76 points, or 0.57 per cent, at the open to 34,070.61. The S&P 500 opened lower by 41.62 points, or 0.95 per cent, at 4,356.32, while the Nasdaq Composite dropped 287.43 points, or 2.09 per cent, to 13,481.50 at the opening bell.
There are no triggers that signal the end to any weakness. At the same time, there are chances of some technical pullback given the relentless selling that was witnessed over the coming days. It is recommended to avoid making aggressive purchases and at the same time avoid excessive shorts as well. It would be prudent to stay away until a clear directional bias is established. While keeping exposures at modest levels, a highly cautious approach is advised for the day.
India’s largest carmaker is likely to report a sharp drop in net profits for December quarter while revenue growth may flat to positive on lower volumes, said analysts tracking the company. Brokers estimate up to 15 per cent year-on-year (YoY) growth in revenues. Net profits may fall 48-58 per cent during the quarter, while Ebitda margins are also likely to slip by 300 basis points.
2021 has seemed eerily similar to 2000. There have been millions of ‘lucky people’ on the planet in the last couple of years. The pandemic rid millions of jobs. The stock market gave those millions the keys to the kingdom, by giving them full-time investing/trading jobs. We have reached 2022, in one piece, but with a planet full of highly confident 25-35-yearolds. Is this going to end well?
SBI Cards and Payment Services on Monday reported 84 per cent jump in net profit at Rs 386 crore for December quarter 2021-22 on the back of healthy card spends, fall in bad loans and higher income from other sources. The pure-play credit card issuer promoted by the country's largest lender SBI had posted a net profit of Rs 210 crore in the year- ago same quarter.Total revenues of the company rose 24 per cent to Rs 3,140 crore during the quarter under review as against Rs 2,540 crore in the same period of 2020-21, SBI Card said in a release.
FMCG major Adani Wilmar, which has grown to become the largest category leader through acquisitions, has set aside Rs 450 crore from the share sale that opens later this week, to tap more acquisition-led growth opportunities primarily in its non-edible oils business. The company, which is an equal joint venture between the Adani Group and Singapore's Wilmar Group, is launching a Rs 3,600-crore IPO on January 27.
Nifty50 on Monday tested the 17,000 mark and slipped below its 100-day and 50-day moving averages with ease. The index eventually registered a Long Black Candle on the daily chart. Analysts said the bears have an edge but since the index has approached oversold territory, some bounce cannot be ruled out, they said.
- Gaurang Somaiyaa, Forex & Bullion Analyst, Motilal Oswal Financial Services
Vedant Fashions Ltd, which owns ethnic wear brand Manyavar, has received capital markets regulator Sebi's go ahead to raise funds through an initial share-sale. The initial public offering (IPO) is purely an offer-for-sale of 36,364,838 equity shares by promoter and existing shareholders, according to the Draft Red Herring Prospectus (DRHP).
We witnessed bloodbath in markets with market correcting almost 3% driven by continuous FII selling and high uncertainty in the market ahead of US Fed meeting. US markets, crypto, Indian markets all are falling as FED is taking out the money. The clarity would be only after the FOMC meeting on Wednesday. However, this fall is a good opportunity for adding quality stocks. We expect the volatility to continue in the market for a short run.
a jump of 224 per cent from Rs 1,117 crore in the corresponding quarter last year. The profit was significantly higher than the analyst estimate of Rs 3,150 crore in an ETNow poll. The bank said Net Interest Income (NII) grew 17 per cent year-on-year (YoY) and 10 per cent sequentially to Rs 8,653 crore.
- Amar Ambani, Senior President & Head - Institutional Equities, YES Securities
Bitcoin tumbled over 7% on Monday to its lowest in six months, as fears of a Russian attack on Ukraine saw riskier assets worldwide extend their selloff. The largest cryptocurrency trading down 7.4% at $33,650, its lowest since July 24, taking losses from its all-time high of $69,000 hit in November past 50%. The U.S. State Department said on Sunday it was ordering diplomats' family members to leave Ukraine in one of the clearest signs yet that American officials are bracing for an aggressive Russian move in the region.
Gold prices on Monday jumped by Rs 255 to Rs 48,431 per 10 grams in the national capital on strong global trends and rupee depreciation, according to HDFC Securities. In the previous trade, the precious metal had settled at Rs 48,176 per 10 grams. Silver also moved up by Rs 80 to Rs 64,793 per kg from Rs 64,713 per kg in the previous trade.
Indian equities witnessed a sharp decline as the benchmark Nifty fell by more than 500 points on Monday. During the day bears breached crucial support levels in Nifty without any fights from the bulls. Moreover, momentum indicator remained in a bearish crossover on the daily chart. Going forward, the index is likely to remain weak. However, sustained trade above 17150 may induce a relief rally in the market. On the other hand, fall below 17150 may trigger correction towards 17000/1682.
-- Milind Muchhala, Executive Director, Julius Baer
- S Ranganathan, Head of Research at LKP Securities
- BSE Midcap sheds 3.82%
- BSE Smallcap declines 4.43%
Price as on 24 Jan, 2022 03:04 PM, Click on company names for their live prices.
An increased budgetary support from the government for flagship projects including Sagarmala and inland waterways will provide a boost to the execution pace and investments, domestic ratings agency Icra said on Monday in its pre-budget expectations note on ports, shipping and logistics sectors. According to the ratings agency, the government is also expected to continue its focus on improving connectivity across India and speedy implementation of projects like Bharatmala for the road logistics sector, dedicated freight corridor (DFC) for the railways and Sagarmala for the waterways.
#MarketsWithETNOW | Stocks down more than 20% from 2022 high. Take a look Will they fall more? #vodafoneidea… https://t.co/OFw9kznSJ8
— ET NOW (@ETNOWlive) 1643015867000
The initial public offer (IPO) is entirely an offer-for-sale of up to 21,814,200 equity shares by promoters -- Liberatha Peter Kallat, Dinesh Nagpal and Mukesh Yadav, according to the draft red herring prospectus (DRHP).
European shares slipped in early deals on Monday, with technology stocks falling the most after worries about tighter monetary policies triggered a bruising sell-off in global equities last week. The pan-European STOXX 600 index slipped 0.4% by 0814 GMT, with Asian stocks also under pressure as investors braced for a hawkish update from the Federal Reserve this week.
As the valuations of loss making companies come down Their ability to raise capital to fund these losses will also… https://t.co/tGIv9WPD5n
— sandip sabharwal (@sandipsabharwal) 1643001694000
Price as on 24 Jan, 2022 01:26 PM, Click on company names for their live prices.
Cyient, a domestic engineering and technology solution provider for more than two dozen Fortune 500-companies, plans to sell stakes in units that are underperforming. “We are aggressively considering what makes sense in our portfolio,” Cyient Managing Director Krishna Bodanapu said in an interview to Bloomberg TV on Monday. “We are a bit complex and one of the objectives for this calendar year is to simplify things and divest out of businesses that do not make sense for us.”
- Revenue: Rs 1945 crore vs Rs 1844 crore
- PAT: Rs 246 crore vs Rs 312 crore
- Stock down 4%
The Reserve Bank of India on Monday said it will be conducting an overnight variable rate repo auction under liquidity adjustment facility (LAF) for an amount of Rs 75,000 crore today. The date of reversal is on January 25, 2022, the central bank said in a release.
- Revenue: Rs 441 cr vs Rs 435 cr YoY
- Loss of Rs 4.3 cr vs profit of Rs 5.5 cr YoY
- EBITDA margin at 3.4% vs 9% YoY
Shares of PTC India Financial Services Ltd fell as much as 8.3% on Monday after India's market regulator directed the non-banking financial company over the weekend to address corporate governance issues before holding any board meeting. The Securities and Exchange Board of India (SEBI) also asked PTC India Financial to file an action-taken report in four weeks, the company said.
#ETNOWMegaExclusive | Here's why Lauren Templeton likes #India despite high valuations @LCTempleton @CFAIIndia… https://t.co/iOy4wRnBiJ
— ET NOW (@ETNOWlive) 1643004133000
Price as on 24 Jan, 2022 11:20 AM, Click on company names for their live prices.
Price as on 24 Jan, 2022 11:18 AM, Click on company names for their live prices.
- ICICIDirect
The crypto cart scripted a small comeback ahead of the two-day Federal Reserve meeting that begins on Tuesday. Barring Solana, all other nine out of top-10 digital tokens were trading higher during early trade on Monday. Solana has lost about 65 per cent of its value in the recent selloff. The trading volumes remained light with many investors continuing to assess troubling economic conditions and a pronounced decline in equity markets.
Rupee slips 3 paise to 74.46 against US dollar in early trade
— Press Trust of India (@PTI_News) 1642999935000
Price as on 24 Jan, 2022 10:36 AM, Click on company names for their live prices.