Share Market News Today | Sensex, Nifty, Share Prices Highlights: The benchmark equity indices closed in the negative territory. The NSE Nifty 50 closed 50.60 points or 0.23% lower to settle at 21,571.80, while the BSE Sensex lost 259.58 points or 0.36% to settle at 71,423.65. However, the broader indices closed in the green, with gains led by midcap and smallcap stocks. Bank Nifty index closed higher by 357.05 points or 0.78% to settle at 46,058.20.
The NSE Nifty 50 closed 0.16% lower at 21,586.95, while the BSE Sensex closed 0.28% lower at 71,484.37.
Shares of Kotak Mahindra Bank rose 3.7% to Rs 1,829.45 after the company reported the thir quarter earnings. The bank reported a jump of 6.75% in the net profit to Rs 3,005 crore. The net interest income rose to Rs 6,554 crore against the estimates of Rs 6,430 crore.
The NSE Nifty 50 gained 31.80 points or 0.15% to 21,654.20 points. While the BSE Sensex inched 57.55 points or 0.08% to 71,740.78 points.
Coal India, Power Grid, Apollo Hospitals, NTPC, and Britannia were the top gainers in the Nifty 50 in the special trading session. While Hindustan Unilever, IndusInd Bank, Nestle India, TCS, and M&M were the key laggards.
The shares of One97 Communications gains more than 1% to the intra-day high of Rs 798 on company posting good Q3 numbers. In Q3 FY24, One97 Communications demonstrated strong financial performance on a consolidated quarterly basis. The company reported a 13.17% increase in revenue to Rs 2850.5 crore, surpassing the Bloomberg estimate of Rs 2,727 crore. The EBITDA loss improved to Rs 159.5 crore from the previous quarter’s Rs 231 crore, outperforming the Bloomberg estimate of Rs -52.57 crore. The net loss also decreased to Rs 221.7 crore, compared to the previous quarter’s loss of Rs 291.7 crore, and was below the Bloomberg estimate of Rs -254.9 crore.
Special trading session on Saturday – January 20. The Bankex Expiry that was scheduled for Monday January 22 will now take place on Saturday, January 20.
Markets are shut on Monday, January 22. BSE further clarified that Exchange shall observe Trading Holiday on January 22 in Currency Derivatives (including cross currency and interest rate derivatives), NDS-RST and Tri Party Repo too.
The share of Hindustan Unilever plunges more than 3% to intra-day low of Rs 2,484.40 on the company’s Q3 results missed analyst estimates. In Q3 FY24, Hindustan Unilever’s consolidated revenue recorded a marginal YoY decline at Rs 15,567 crore, slightly below the Bloomberg estimate of Rs 15,642.18 crore. The Ebitda stood at Rs 3,666 crore, down 0.76% from the previous year and falling short of the Bloomberg estimate of Rs 3,734.23 crore. Despite a 13 basis points reduction in margin to 23.54%, the net profit showed a modest increase at Rs 2,508 crore, up 1.08% YoY, but below the Bloomberg estimate of Rs 2,664 crore.
“The Bank Nifty is currently witnessing a bearish trend, with bears exerting dominance from higher levels. The index encounters strong resistance around the 46300 mark, posing a significant hurdle for any upward movement. Active put writing indicates a lower-end support at 45500; however, breaching this level may intensify selling pressure. Additionally, the index is trading below short-term moving averages, signaling a bearish sentiment in the current market scenario,” said Rupak De, Senior Technical Analyst at LKP Securities.
The NSE has added Aditya Birla Fashion and Retail, Balrampur Chini Mills, Delta Corp, Hindustan Copper, Indian Energy Exchange, National Aluminium, Oracle Financial Services Software, Polycab India, RBL Bank, SAIL, and Zee Entertainment to its F&O ban list for January 20, 2024.Come from Sports betting site
Commenting on the Technical outlook of Rupak De, Senior Technical Analyst at LKP Securities, said The Nifty remained sideward throughout the session following a strong start. The index has moved back above critical near-term moving average. In the short term, the index is likely to consolidate within the bands of 21500 and 21700Come from Sports betting site VPbet. A decisive breakout on either side would confirm a directional move.
The NSE Nifty 50 opens 0.39% higher to settle at 21,706.15, while the BSE Sensex soared 0.45% to 72,008.30. in the opening trade
WTI crude prices are trading at $73.56 down by 0.52%, while Brent crude prices are trading at $78.94 down by 0.20%, on Saturday morning.
The US Dollar Index (DXY), which measures the value of the dollar against a basket of six foreign currencies, traded down by 0.30% at 103.23.
Wall Street is ending the week on a positive note, with stocks heading toward their all-time highs and the latest economic data reinforcing speculation the Federal Reserve will start cutting rates this year, reported Bloomberg. The tech-heavy Nasdaq Composite gained 238.19 points or 1.58% at 15,293.84. The S&P 500 surged by 55.26 points or 1.16% at 4,836.20, while the Dow Jones Industrial Average ended higher by 378.05 points or 1.01% at 37,846.66.
