Thank you, readers! That's all from CNBC-TV18.com's live market coverage on January 6, 2022. Stay tuned for other updates on our website: CNBCTV18.com.

You can follow us on Twitter: @CNBCTV18Live @CNBCTV18News

And on Facebook, LinkedIn, Instagram and Telegram

Download our mobile app for Android and iOS platforms

Jan 6, 2022 5:21 PM

Probabilities favour a rally in Nifty to 18,250-18,300 over 5-10 days: Manish Shah

Independent technical analyst Manish Shah said the Nifty has formed a spinning top pattern in a sign of indecision in the market. He believes the Nifty remains in a firm uptrend. "In a fast uptrend, the corrective decline coils last on for 2-3 days. The underlying trend is sharply up... The Nifty may see sideways rangebound action between 17,650 and 18,003, but the probabilities favour a rally to 18,250-18,300 levels over the next 5-10 days," he said.

Shah advises traders to consider retaining long positions.

Jan 6, 2022 5:21 PM

Major hurdles for Nifty50 on Friday to be 17,750, 17,820: Kotak Securities' Shrikant Chouhan

Shrikant Chouhan, Head of Equity Research (Retail) at Kotak Securities, said the market was in a bearish mood throughout the day. As long as the Nifty does not cross the 18,600 mark, levels of 17,600 and 16,800 will be decisive for the market, he said. "Below 16,800, the Nifty will be ready to reach 16,400-16,000. However, staying above 17,600 will help the Nifty move to 18,200 or 18,600 levels. The Nifty will remain volatile between 17,600 and 16,800. On Friday, 17,750, 17,820 and 17,890 will be the major hurdles. On the dismissal of 17,950, the chances of going to 18,050/18,100 will be bright. Below 17,580, the Nifty will fall to 17,400-17,350 levels," he said.

Jan 6, 2022 5:18 PM

Edtech space promising but offers limited room to play: Gurmeet Chadha

Gurmeet Chadha of Complete Circle Consultants is positive on the edtech space but feels there is limited room to play. "There are proxy players of course from NIITs to Aptechs of the world but my view on is that if you want to play this new-age thing, you create a basket," he said.

Chadha believes there are better platform plays including fintech, gaming and D2C. "I call this concept investing rather than just handpicking something," he added.

Jan 6, 2022 5:14 PM

Multiple levers for Bharat Forge: Gurmeet Chadha

Gurmeet Chadha of Complete Circle Consultants believes there are multiple levers to be constructive on Bharat Forge. "I am constructive that the CV cycle is turning around so that is the first lever. The second is the management itself has guided for the industry revenues to double in next three years. Their e-mobility, is currently at about 10-12 million euros, and they have guided for 100 million euros... so that is the third bit for me. The fourth is a defence order book. I think they have a good order book and it could be a little meaningful... maybe a couple of years down the line," he said.

"They also have this subsidiary called Sanghvi Forging, which is now likely to do well. So I think we have to look at more as a sum-of-parts for Bharat Forge, and not just only about chip shortage and North America. So I am in general constructive on the CV cycle turning around," he added.

Jan 6, 2022 5:10 PM

Bullish on L&T Technology Services: Devang Mehta

Devang Mehta of Centrum Wealth Management is positive on L&T Tech Services. The company was probably lagging growth 2-3 years ago, he said. "From a rate of around Rs 1,200, when we talk today, it's roughly at around Rs 5,700 of stock price. The growth trajectory of this company has been phenomenal. The company is growing at probably 15-20 percent and even more in certain years. I think this type of companies will keep on doing well, for the next 2-3 years, be it COVID or non-COVID... People have learned to enhance their productivity and either work from home or make the digital shift towards a lot of such automation projects as well," he added.

Jan 6, 2022 5:01 PM

Rupee ends lower at 74.49 against US dollar

The rupee ended at 74.49 against the greenback. On Wednesday, it had closed at 74.36.

Jan 6, 2022 4:28 PM

IT services in medium-term uptrend globally: Edelweiss MF's Trideep Bhattacharya

Trideep Bhattacharya, CIO-Equities at Edelweiss Mutual Fund, believes IT services globally are in the middle of a medium-term uptrend in terms of IT spending. "The reason why this is happening is because of the digital adoption of corporates in the post-COVID era. As they make investments, the Indian IT sector benefits as an enabler in this disruption. So we are structurally bullish on IT services sector from a medium- to long-term point of view,” he said.

Jan 6, 2022 4:09 PM

Market At Close | Sensex, Nifty down 1% though off day’s lows

Here are some highlights:

--Broader market recovers from early losses; midcap index rises 39 pts to 30,956

--Nifty Bank fails to hold on to green territory, but 431 points off lows

--Reliance, HDFC Bank contribute most to Nifty losses

--UPL top gainer after CLSA raises target, FY22-24 EPS

--3 out of 6 top Nifty are auto stocks; Bajaj Auto, Eicher, Maruti up 1-2%

--Bharat Forge amongst top midcap index gainers despite lower Class 8 orders YoY

--Wockhardt in the green after board approves rights issue of up to Rs 1,000 crore

--Future Retail up 5% following developments around arbitration proceedings

--Goldman Sachs report on KPIT Tech lifts stock 9%

--Gain in banks in last hour lifts PSU bank index 0.5%

--All sectoral indices except Nifty Media, Auto, PSU Bank in the red

--Market breadth in favour of bulls after midcap recovery; advance-decline ratio at 5:3

Jan 6, 2022 4:03 PM

Market At Close | JSW Steel, UltraTech, Shree Cement top blue-chip losers

Tech Mahindra, Adani Ports and HDFC were also among the top laggards in the Nifty50 pack. A total of 35 stocks in the index were in the red at the close.

On the other hand, UPL, IndusInd Bank, Bajaj Auto, Bharti Airtel, Maruti Suzuki and Eicher Motors were among the top gainers.

Here's how the 30-scrip basket fared:

Jan 6, 2022 3:50 PM

Closing Bell | Sensex down 621 points at 59,602, Nifty below 17,750

Both headline indices closed one percent lower, though a good distance away from their intraday lows. The 30-scrip index shed 621.3 points to end at 59,601.8, and the broader Nifty50 benchmark settled at 17,745.9, down 179.4 points from its previous close.

Losses across sectors, led by financial, IT and oil & gas stocks, pulled the headline indices lower. (Read more on the closing bell)

Jan 6, 2022 3:38 PM

India will see capex cycle as interest rates remain very low: Edelweiss MF

Edelweiss Mutual Fund told CNBC-TV18 India will see capex cycle as interest rates remain very low globally as well as in the country. 2022 will be a year of policy normalisation after the COVID era, it said.

Capex in the private sector is expected to be three times than the public sector in the coming years, said Edelweiss Mutual Fund, which is structurally bullish on the IT sector.

Jan 6, 2022 3:17 PM

Paytm shares drop to fresh low, discount to issue price reaches 41%

Paytm parent One97 Communications' shares continued to fall for a third straight day to hit an all-time low. The stock dropped more than two percent to Rs 1,262.1 on BSE, a discount of 41.3 percent to the issue price of Rs 2,150. Paytm is one of the worst Dalal Street debutants of 2021.

One97 shares have completed seven weeks of trading on stock exchanges BSE and NSE following a weak listing on November 18. (Read more on Paytm stock price)

Jan 6, 2022 3:05 PM

Auto Sales | Jaguar Land Rover UK December sales down 50%

Jaguar Land Rover's auto sales in the UK came in at 4,002 units in December, as against 7,934 units in the corresponding period a year ago.

--Jaguar UK December sales down 60.6% YoY at 1,333 units

--Land Rover UK sales down 41.3% YoY at 2,669 units

Jan 6, 2022 3:03 PM

Bharti Airtel, Vodafone Idea, Indus Tower shares jump; CLSA raises target prices

Bharti Airtel and Vodafone Idea shares gained as telecom stocks were in focus after CLSA said it expects the sector to grow further this year. The brokerage said the sector's revenue grew 15 percent on a year-on-year basis in 2021.

Bharti Airtel shares jumped as much as 2.9 percent to Rs 720.5 apiece on BSE, after CLSA said the private sector telecom company is its top pick in the sector. The brokerage raised its target price for Bharti Airtel to Rs 910 from Rs 863.

Vodafone Idea shares gained as much as 4.3 percent to Rs 15.8 apiece on BSE. The brokerage raised its target price for Vi to Rs 16 from Rs 11. It also said the government's mega relief package last year averted a financial crisis at Vodafone Idea. (Read more on telecom stocks)

Jan 6, 2022 2:56 PM

Load more