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Jan 7, 2022 5:35 PM

Crucial support for Nifty50 at 17,700: Equity99's Rahul Sharma

Rahul Sharma of Equity99 expects 17,700 to act as crucial support for the Nifty, below which, the index might slide to 17,650-17,600 levels. "On the upper side, 17,800 will act as very strong resistance. Once this level is breached, we might see 17,870 and then 18,000," he added.

Sharma expects banking, fertiliser, IT and healthcare spaces to be in focus on Dalal Street now.

Jan 7, 2022 5:33 PM

HDFC Life top pick in insurance: Elixir Equities' Dipan Mehta

Dipan Mehta, Director at Elixir Equities, believes HDFC Life is the best in the insurance space, and Max Health could be the dark horse. If there is a further correction, Star Health Insurance is a company worth watching, he said.

“Valuing and understanding insurance companies is a bit of a challenge. But there is no denying the fact that underlying momentum is a solid 20 percent-plus for the private sector insurance companies. So if you hold them long enough 3-5 years or so, these companies can be great value creators. One should have some amount of allocation to insurance," Mehta said.

Jan 7, 2022 5:22 PM

Positive on KPIT Tech: Elixir Equities' Dipan Mehta

Dipan Mehta, Director at Elixir Equities, is positive on KPIT Tech. “KPIT Tech is at the premium end as far as midcap stocks are concerned but to an extent justified because the segment that they are in is one of the highest growth segments within the IT space,” he said.

"There is a disruption underway in the auto sector globally with EVs coming in, and the company benefits from it in terms of higher order flows," he added.

Jan 7, 2022 5:09 PM

QSRs way too expensive: Avendus Wealth's Suveer Chainani

Suveer Chainani of Avendus Wealth Management believes quick service restaurants look way too expensive. "Probably I am biased, but really expensive names just don't resonate with me. So anything beyond 30 (PE) there has to be a very good reason for that stock to be at more than 30-40 and some of the stocks are very expensive," he said.

"As a theme, definitely, this, redefinition of life plays well for these kinds of names. But once again, the investing versus trading are two different disciplines and one can say that lockdown is coming and we all know but it will go away in a couple of weeks. So would you then sell them? That is the question. So if for the traders possibly there could be a trade. We are not talking specifically about stocks but for investing per se, I guess these are way too expensive for at least my comfort," he added.

Jan 7, 2022 5:03 PM

Market This Week | Sensex, Nifty gain 3% each; midcap index up 2%

Here are some highlights:

--Nifty Bank rises 6% to post biggest weekly gain since May 2021

--Except pharma, IT, all sectoral indices log weekly gains

--39 Nifty stocks give positive returns; Grasim, ONGC, Bajaj Finance top gainers

--Tech Mahindra, Dr Reddy's, Infosys, Divi’s, Cipla, HCL top Nifty losers

--India Cements, AU Small Finance Bank, Pidilite, Cholamandalam Investment, Federal Bank top midcap gainers

Jan 7, 2022 4:50 PM

Market At Close | Nifty Bank gains 249 points to 37,740

Here are some highlights:

--Reliance Industries, TCS, ICICI Bank, HDFC Bank lift Nifty50; HDFC, L&T drag

--Midcap index up 155 points at 31,112

--Cement shares gain with healthy volumes; Grasim top Nifty gainer

--Bajaj twins slip after previous day's sharp upmove

--Titan fails to hold intraday gains despite strong monthly update

--Godrej Consumer up 1% after company reports low-volume growth for Q3

--ONGC, Oil India surge as crude continues to move higher

--India Cement, Oil India, Nalco, Jubilant Food, AU Small Finance Bank top midcap gainers

--GMR, Coforge, Piramal, Union Bank, Abbott top midcap losers

--Market breadth favours bulls; advance-decline ratio at 3:2

Disclaimer: Network18, the parent company of CNBCTV18.com, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.

Jan 7, 2022 4:28 PM

Market At Close | Grasim, ONGC, Hindalco, HDFC Life, Shree Cement among top blue-chip gainers

Tata Consumer, Asian Paints, Britannia, Nestle and TCS were also among the gainers. On the other hand, the Bajaj twins, Mahindra & Mahindra, Larsen & Toubro, Titan and HDFC were the worst hit among the 17 laggards in the Nifty50 pack.

Here's how the 30-scrip basket fared:

Jan 7, 2022 3:46 PM

Closing Bell | Sensex up 143 points at 59,745, Nifty reclaims 17,800

The 30-scrip index ended 142.8 points or 0.2 percent higher at 59,744.7 and the broader Nifty50 benchmark settled at 17,812.7, up 66.8 points or 0.4 percent from its previous close.

Jan 7, 2022 3:40 PM

India to overtake Japan as Asia's 2nd largest economy by 2030: IHS

India is likely to overtake Japan as Asia's second-largest economy by 2030 when its GDP is also projected to surpass that of Germany and the UK to rank as world's No.3, IHS Markit said in a report on Friday. Currently, India is the sixth-largest economy in the world, behind the US, China, Japan, Germany and the United Kingdom. "India's nominal GDP measured in USD terms is forecast to rise from USD 2.7 trillion in 2021 to USD 8.4 trillion by 2030," IHS Markit Ltd said.

Jan 7, 2022 3:32 PM

FM Nirmala Sitharaman reviews PSBs' readiness to tackle any Omicron-induced disruption

Finance Minister Nirmala Sitharaman on Friday chaired a meeting with chiefs of public sector banks and assessed their readiness to tackle any possible disruptions due to the Omicron variant. In a tweet, the Finance Ministry said during the meeting with CMDs/MDs, held through virtual mode, the minister also reviewed various steps taken by PSBs in implementing pandemic-related measures initiated by the government and RBI.

Jan 7, 2022 3:25 PM

Wait for things to improve before buying any other OEMs: Prakash Diwan, market expert on Hero Motocorp

One thing that is a bit circumspect is this entire demand uptick, even post the third wave, the third tsunami that we are facing on the COVID side is something that we really don't know in terms of timing. So my worry is that if it stretches too much, the cost of running an establishment without sales or optimal sales is a difficult task for a company like Hero. So they will probably have those kinds of losses to carry forward or drag along with. I would wait for things to really improve before buying any other OEMs for sure.

Jan 7, 2022 3:21 PM

Morgan Stanley maintains 'overweight' on HPCL

Morgan Stanley has kept an ‘overweight’ rating on HPCL with a target at Rs 391 per share. The refining margin is consistently rising with fuel demand above pre-COVID levels, while fuel inventories are at a multi-year low, refinery capacity rationalization keeping markets tight.

Jan 7, 2022 3:10 PM

Coal Ministry postpones e-auction of 10 coal mines offered for sale of coal

Jan 7, 2022 2:58 PM

Titan wipes initial gains; stock surged 3% post strong biz update

Shares of Titan Company surged more than 3 percent intraday after the jewellery maker posted a strong business update and said that it witnessed robust demand across its consumer businesses. However, the stock failed to sustain initial gains and fell nearly 1 percent on Friday.

Jan 7, 2022 2:48 PM

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