Market LIVE Updates: Trade on Sensex, Nifty 50 remains choppy as options expiry volatility plays out

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16:05:37 IST

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15:45:04 IST

Market at Close | Sensex and Nifty end volatile session lower  

— Market closes in the red but sharply off intra-day lows

— IT stocks support market ahead of key earnings, Nifty IT one percent off lows

— Cement shrs gain on an expectation of improved earnings, Ultratech top gainer

— L&T continues its gaining momentum on govt’s infra push, stock up nearly two percent

— Reliance drags nifty by 40 points as stock falls more than two percent

— Axis slips nearly two percent as sources say company may have to pay Rs 85/share for max life stake

— Oil marketing companies under pressure as crude moves higher, HPCL is top loser

— PVR surges nearly three percent on reports of NCLT approval to INOX merger

— Navin Fluorine, Chola Invst, Cummins, MCX are top midcap gainers

— Market breadth favours declines, advance-decline ratio at 2:3

15:42:28 IST

Infosys Q3 | Infosys reports December quarter earning

Net profit at Rs 6,586 crore vs CNBC-TV18 poll of Rs 6,480 crore

 

Q3FY23 CNBC-TV18 Poll Vs Estimates
Rs Revenue (Rs crore) 38,318 37,918 1.1%
EBIT (Rs crore) 8,242 8,298 -0.7%
Margin  21.5% 21.88% -38 bps
$Revenue ($ m) 4,659 4,621 0.8%

15:38:05 IST

Rupee Check | Rupee ends slightly higher at 81.55 vs dollar 

15:21:18 IST

Wipro Q3 Preview | Guidance holds the key with deal pipeline likely to remain healthy

Wipro will be the fourth among largecap technology names to report December quarter results on Friday, January 13. Shares of the company have corrected 47 percent from their all-time high of Rs 739 in October 2021. (Read more)

15:09:58 IST

Stock Market News | Axis Bank may propose to buy remaining 7% in Max Life at Rs 85/share

The final decision on accepting the proposal on revised value, however, rests with Insurance Regulatory Development Authority of India (IRDAI). (Read More)

15:00:18 IST

Stock Market News | Cyient reports December quarter earnings 

Cyient reports a net profit of Rs 156 crore against CNBC-TV18 poll of Rs 146.3 crore.

Here’s how the other numbers fared:

 

Q3FY23 CNBC-TV18 Poll Vs Estimate
Rs Revenue (Rs crore) 1,618.8 1,612 0.4%
EBIT 213.3 201.6 5.8%
Margin 13.2% 12.5% 70 bps

14:57:19 IST

Infosys Q3 | Infosys oscilates between red and green ahead of December quarter earnings

— The shares are up 0.2 percent at this hour. 

— Stock slipped as much as 1.1 percent earlier in the trade today. 

(Here’s what to expect)

14:46:56 IST

Stock Market News | Engineers India to provide consultancy for 300 MW power plant of Guyana Power and Gas Inc: Government

14:40:06 IST

Stock Market News | Action Construction bags order from Ministry of Defence

— Action Construction has developed an indigenous Special Mobile Crane for Ministry of Defence, DRDO, programme MRSAM (Army).

— Company has received a pilot order for manufacturing and supply of the said cranes which have been integrated on HMV 8X8 chassis by ACE. 

14:35:39 IST

Stock Market Update | Mahindra CIE Automotive shares rise for seventh day, hit 52-week high

The recent rally has been fuelled by the company’s focus on the opportunity of the electrification of light vehicles in Europe after the auto industry there is seeing a rapid transition to electric vehicles. (Read more)

14:28:51 IST

HCL Tech Q3 | HCL Tech is one of the top Nifty 50 gainers ahead of December quarter earnings

—  HCLTech will report its December quarter earnings on January 12,

— The shares are up 1.6 percent at Rs 1,071.5 at this hour. 

(Here’s what to expect)

14:14:16 IST

Reliance Capital IBC Case: Torrent asks Co admin and CoC to immediately withdraw second auction move, pleads to NCLT for an order

Torrent Group wrote to the Reliance Capital Admin and Committee of Creditors on Wednesday asking them to immediately withdraw the second round of auction under the extended mechanism failing which they will be compelled to take legal action. (Read more)

14:02:39 IST

Stock Market Update | Paytm shares fall for the first time in 10 days

– 2 crore shares or 3.1 percent of the total equity exchanged hands in a large trade

– Sources tell CNBC-TV18 Ant Financial likely to be the seller

Shares fell as much as 8 percent post the deal

13:57:03 IST

Stock Market Update | Axis Bank falls for third day in a row

– Stock is the second biggest loser on the Nifty 50

– It has now declined in six out of the last seven trading sessions

– Stock is correcting from its 52-week high of Rs 970

Stock has been declining since the revised terms of the deal with Max Financial were announced

13:47:19 IST

Stock Market Update | Divi’s Laboratories top loser on Nifty 50

– Trading with losses of over 3.5 percent

– Declines close to 6 percent over the last two trading sessions

– Stock is down 27 percent over the last 12 months

– Has corrected close to 30 percent from its 52-week high of Rs 4,668

13:43:26 IST

Stock Market Update | Nifty 50 breaks below December 26 low of 17,774

– Sensex down 450 points at 59,654

– Nifty 50 makes new low of 17,764 and is trading lower by 130 points

– Nifty Bank down close to 500 points at 41,760

– 37 out the Nifty 50 constituents are trading with losses

– Divis Laboratories, Axis Bank are the top losers on the Nifty 50

13:37:31 IST

Stock Market Update | Buy Siemens: Sudeep Shah

Sudeep Shah of SBI Securities suggests buying Siemens for a target of Rs 3,080-3,100 with a stop loss at Rs 2,935.

13:36:20 IST

Stock Market News | Goldman Sachs sees Nifty at 20,500 at the end of 2023 with a better second half

In an interview with CNBC-TV18, Sunil Koul, APAC Equity Strategist of Goldman Sachs discussed the current state of the markets and elaborated on why he has a year-end target of 20,500 for Nifty. (Read more)

13:26:04 IST

Stock Market News | Paytm large trade

2 crore shares or 3.1 percent equity worth Rs 1,126 crore change hands at an average Rs 540 per share

(Read more)

13:18:39 IST

Stock Market News | Berger Paints says Kaushik Ghosh to replace Vikash Sarda as CFO with immediate effect

13:06:45 IST

Auto Expo 2023: Maruti Suzuki unveils new compact SUV Fronx

Homegrown automaker Maruti Suzuki, on Thursday, unveiled its latest compact sports utility vehicle (SUV) Fronx on the second day of the Auto Expo 2023 alongside its much-anticipated off-roader five-door Jimny in India. (Read more)

12:49:38 IST

Stock Market Updates | Top pick in pharma space is Sun Pharma, like Dr Reddy’s based on valuations: Cyndrella Carvalho

“Our top pick is definitely Sun Pharma and we like the stock and we continue to maintain ‘buy’ rating on Sun Pharma and we also vouch for DRL at these valuations,” says Cyndrella Carvalho, VP-Healthcare and Pharma Lead of JM Financial.

12:41:38 IST

Stock Market News | Kotak Institutional Equities downgrades Nalco citing unfavourable risk-reward

Kotak Institutional Equities has downgraded its rating on state-owned aluminium producer National Aluminium Company Ltd (Nalco) to ‘Sell’ with a target price of Rs 70. (Read more)

12:26:13 IST

Stock Market News | GM Breweries report December quarter results

— Net profit up 31.3 percent Rs 26 crore vs Rs 19.8 crore year-on-year

   

— Revenue up 17.4 percent at Rs 153.7 crore vs Rs 131 crore year-on-year

    

— EBITDA up 23 percent at Rs 33.2 crore vs Rs 27 crore year-on-year

    

— EBITDA margin at 21.6 percent vs 20.6 year-on-year 

12:17:36 IST

Stock Market News | Union Bank aims to raise Rs 3,500 crore

The Union Bank appointed investment banks such as ICICI Securities, Yes Securities and JM Finance for Qualified Institutional Bidders (QIB) issue. As per details available, Union Bank is targeting to launch its QIB issue in Q4 of FY23. (Read more)

12:08:39 IST

Stock Market Update | Nifty Bank falls over 300 points

— Nifty Bank is down 309.6 points or 0.7 percent at 41,923.

— Axis Bank, Bandhan Bank, Kotak, ICICI Bank and PNB down one to 2.3 percent. 

— Barring AU Bank, Bank of Baroda and Federal Bank, which are up 0.2 to 5.6 percent, all stocks in the Nifty Bank basket are trading with losses. 

11:58:08 IST

Stock Market News | RailTel Corporation wins two orders worth Rs 293 crore 

— Shares of state-owned company rose over three percent on Thursday.

— Secured an order worth Rs 170 crore from the Puducherry government’s Department of Revenue and Disaster Management.

— Another order came from mining major NMDC, which was worth Rs 122.63 crore.

(Read more)

11:48:21 IST

Stock Market News | Tech Mahindra signs pact with Microsoft 

11:40:21 IST

Stock Market Update | Rahul Mohindar’s stock recommendations

Here are some recommendations by Mohindar of viratechindia.com:

— HDFC Bank, the moment it starts breaching levels of Rs 1,580, I think we moved to about Rs 1,540. So one could be trading short on that stock with Rs 1,610 stop loss.

— Stock which looks weak is Reliance Industries, Rs 2,455 would be a first target and breaking Rs 2,455 I would say test of Rs 2,420 is likely. Keep a stop loss of Rs 2,505 and go short.

— SBI Life is one of those stocks that look strong and in the individual set I think we could particularly see much bigger strength as we move above Rs 1,315. I would recommend buying with Rs 1,260 stop loss and targets of about Rs 1,340.