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

Wall Street drops at open as Ukraine tensions weigh at start of crucial week

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.

Trade setup: No triggers to signal end of weakness; modest exposure advised

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.

Maruti Suzuki Q3 preview: Analysts expect sharp drop in net profits, margins

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.

Shankar Sharma on why 2021 seems like 2000 for stock markets

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 Card Q3 profit zooms 84 pc to Rs 386 cr on higher card spends, fall in bad loans

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.

Adani Wilmar to use Rs 450 cr from IPO proceeds to tap inorganic growth

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.

Tech View: Nifty bears hold upper hand but some recovery can't be ruled out

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.

Rupee came under pressure but continued to consolidate in a broad range despite sharp sell-off in domestic equities on expectation that the Federal Reserve in its policy meeting will be more hawkish than anticipated earlier. The dollar strengthened against its major crosses ahead of the Fed meeting. Today, volatility would remain elevated as market participants will be keeping an eye on the preliminary manufacturing PMI number that will be released from the US. We expect the momentum for the USDINR would continue to remain positive and it could quote in the range of 74.05 and 74.80.

- Gaurang Somaiyaa, Forex & Bullion Analyst, Motilal Oswal Financial Services

Manyavar-owner Vedant Fashions gets Sebi's go ahead to float IPO

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).

Market volatility to continue: Rahul Sharma, Equity 99

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.

Axis Bank Q3 net profit jumps 224% YoY to Rs 3,614 cr, beats estimate

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.

Shriram Transport board approves raising $3.5 bn

Indian equities corrected massively, possibly reacting to US equities trending lower and rise in crude oil prices. In my view, there were no positive triggers to take the market upwards in the near term and which is why volumes in large cap names are down 20-30% in 2022 so far, as compared to 2021, even when market caps are higher by 20-25% on a year-on-year basis. While a further 500 points downside cannot be ruled out in the Nifty, on the brighter side, the stock market is much lighter and healthier, heading into the Union Budget, after the high in mid-October 2021. Corporate earnings have been positive so far and Omicron didn’t disrupt the economy materially. The structural story remains intact and I am confident that Nifty will achieve a higher high in 2022, than what we saw in 2021.

- Amar Ambani, Senior President & Head - Institutional Equities, YES Securities

Bitcoin tumbles 7% to lowest since July as Ukraine conflict fears shake markets

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 jumps Rs 255 on global trends

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.

Sustained trade above 17150 may induce a relief rally: Rupak De, LKP Sec

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.

How to navigate this market?

Weak global cues ahead of the FED meet saw a fierce sell-off in new-age recently listed firms and stocks with high FII ownership. As the VIX rose more than 25% in late afternoon trade today, all sectoral indices were deeply in the red as the BSE Sensex breached the 57K mark. The broader markets were pounded as the Small & Midcap Indices lost almost 5% today. Though Indices pulled back a bit at the end, the fact that only a tad over 100 shares advanced depicted sentiments today. With the Nifty losing over a thousand points in the last five sessions, investors are bracing for higher volatility going forward.

- S Ranganathan, Head of Research at LKP Securities

Advance-decline ratio at 1:6

Broader markets lag benchmark

Top Sensex drags today

Sensex Heatmap: All constituents end in the red

Nifty ends below 17,150

CLOSING BELL: Sensex logs biggest daily fall since Nov, sinks 1,546 pts; Nifty takes losing run to 5th day, plummets 2.7%

BSE Midcap: Top gainers & losers from the pack

Zomato: 36.7 lakh shares traded in a block

Price as on 24 Jan, 2022 03:04 PM, Click on company names for their live prices.

Icra expects enhanced budgetary support for waterways, logistics sectors in budget FY23

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.

Stocks down more than 20% from 2022 high

Dreamfolks Services files draft papers with Sebi to raise funds via IPO

S&P BSE Realty index plunges 6.56%

On BSE, 241 stocks hit upper circuit limits while 944 stocks hit lower circuit limits

Gold, silver spot prices

India VIX surges over 24% to above 23 level

European stocks slip again with tech under pressure

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.

Metal index tanks over 5%; all constituents in the red

Sandip Sabharwal on new-age cos

Selling intensifies! Sensex loses 1,450 points, trades below 58,000

Ashoka Buildcon wins Rs 829 crore order from NHAI

Price as on 24 Jan, 2022 01:26 PM, Click on company names for their live prices.

Cyient to sell stakes in units offering low returns in 2022

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.”

Q3 EARNINGS: SUPREME INDUSTRIES

RBI to conduct overnight VRR auction of Rs 75,000 crore on Monday

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.

Q3 EARNINGS: RANE (MADRAS)

SBI Card hits fresh 52-week low ahead of earnings

Sea of red! All constituents of BSE Sensex decline

Nifty Private Bank index faring better than other sectors

Monday Mayhem! Investors lose Rs 7.76 lakh crore in today's selloff

Advance-decline ratio skewed in favour of sellers

Nifty nears 17,200; barring Cipla, ONGC all stocks in the red

PTC India sinks 8% on market regulator's notice

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.

BSE Smallcap plummets 4%

Sensex top drags

MARKET VIEW

NIFTY50 gives up 17,350 level

Star Housing Finance Limited has entered into co-lending partnership with Capital India Home Loans to compliment its AUM growth across their shared operational geographies

Price as on 24 Jan, 2022 11:20 AM, Click on company names for their live prices.

NIFTY REALTY worst hit, tumbles up to 4%

Reliance unit pact to give Rs 750 cr loans to Sterling and Wilson

Price as on 24 Jan, 2022 11:18 AM, Click on company names for their live prices.

We see the FY23E Union Budget being “fiscally prudent” as well as “growth supportive”. We expect the government to continue its growth agenda via higher capex allocation, which will accelerate the investment cycle and employment. We also expect fiscal conservatism approach to be back gradually keeping in mind the likely inclusion of India in the global bond indices. With buoyancy in tax revenues, relatively contained spending and higher nominal GDP growth, we expect fiscal deficit to be contained at 6.3% vs. BE of 6.8% of GDP for FY22E. With a goal to reach a $5-trillion economy by FY25E, we expect capital expenditure allocation to continue to remain higher for FY23E as well while healthy tax revenues and mega disinvestment pipeline may help contain fiscal deficit to ~5.0%.

- ICICIDirect

Bitcoin holds above $35,000; altcoins show strength

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 Update

Fullerton India partners with Paytm to expand digital lending to MSMEs and consumers with special focus on smaller cities and towns

Price as on 24 Jan, 2022 10:36 AM, Click on company names for their live prices.