Thank you readers! Here are the key highlights from today's session

- Sensex & Nifty Close At Record Highs; RIL, Infosys & TCS Top Contributors

- Nifty Gains 124 Points To 14,645 & Sensex 394 points To 49,792

- Sensex Hits Intra-day Record High Of 49,874.40 & Nifty 14,666.50

- Nifty Bank Relatively Underperforms; Ends With A Gain Of 119 Points At 32,544

- HDFC Bank Drags Nifty Bank By 71 Points While ICICI & Axis Bank Lift By 113 Points

- Midcap Index Surges 228 Points To 22,197; It’s 326 Pts Away From Intra-day Record

- Except FMCG, All Sectoral Indices Close Higher; IT, Auto & PSU Bank Up 2% Each

- Market Breadth Slightly In Favour Of Advances; Advance-Decline Ratio At 1:1

- Tata Motors, Adani Ports, Wipro, Maruti, Tech Mahindra Top Nifty Gainers

- Tyre Stocks Amongst Top Midcap Gainers; JK Ture Up 20%, MRF 7% & CEAT 3%

Jan 20, 2021 3:49 PM

Closing Bell: Sensex, Nifty end at record close as IT, auto sectors lead

Indian indices edged higher to end at record close on Wednesday, snapping two sessions of losses, led by gains in IT and Auto stocks. Nifty Bank and Nifty Metal were also positive, lifting the sentiment further, however, FMCG was the only index to end in the red. The Sensex ended 394 points higher at 49,792 while the Nifty rose 123 points to settle at 14,645. Broader markets were also higher for the day with the midcap and smallcap indices up 0.5-1 percent each. On the Nifty50 index, Tata Motors, Adani Ports, Wipro, Tech Mahindra and Maruti were the top gainers while Powergrid, Shree Cement, NTPC, GAIL and HDFC Bank led the losses. The Nifty Auto and Nifty IT index surged over 2 percent each for the day while Nifty Metal was up 0.9 percent. Nifty Bank and Nifty Fin Servcies also rose 0.3 percent each.

Jan 20, 2021 3:33 PM

How to apply for Indigo Paints IPO via Groww: A step-by-step guide

The initial public offer (IPO) of Indigo Paints has opened for subscription on Wednesday with a price band between Rs 1,480 and Rs 1,500 per share.Get latest Market online at cnbctv18.com

Jan 20, 2021 3:27 PM

Positive on consumer durables space, Crompton and Voltas top picks, says HDFC Securities

HDFC Securities’ Naveen Trivedi on Wednesday said the brokerage remains positive on consumer durables space with Crompton Consumer and Voltas as its top picks. “We like consumer durables space, we have positive ratings for most companies in our coverage universe and our top picks are Crompton and Voltas,” said Trivedi told CNBC-TV18. The demand is still robust in the consumer durables sector post-festive season, he said. “It seems that the housing activity is expected to do better in the coming years. So the core categories like the fan are expected to do well.” Watch the video for more

Jan 20, 2021 3:16 PM

MARKET AT RECORD HIGHS | Sensex at a kissing distance from 50,000. Nifty at record high too.

Jan 20, 2021 3:05 PM

CLSA India bull-bear index compares current market to history

Markets have been uplifted on the back of very strong earnings that have been seen, easy liquidity conditions in India, globally as well as the COVID-19 vaccine driven optimism. After this kind of an upmove—a 95 percent upmove that the markets have seen from its March lows of 7,500—so quickly and so swiftly, the fear is that the market has topped out. CLSA has introduced a proprietary India bull-bear index that compares the current market to history from an investor sentiment perspective. Watch video for more

Jan 20, 2021 2:55 PM

Indigo Paints subscribed 1.25 times on Day 1 so far; retail portion at 2.16 times

The initial public offering of Indigo Paints, the fifth-largest decorative paints company in India, has been subscribed 1.25 times on its first day of the bidding. As of 2 PM, the portion set aside for retail investors is subscribed 2.16 times so far, while the employee portion was subscribed 0.11 times. The reserved portion of non-institutional investors saw a subscription of 0.75 times and that of qualified institutional buyers 0.1 times. The IPO comprises of fresh issuance of Rs 300 crore and an offer-for-sale of up to 58,40,000 equity shares by promoters as well as investors. The offer will close on January 22. The price band for the issue has been fixed at Rs 1,480 and Rs 1,500 per share.

Jan 20, 2021 2:43 PM

Sun TV recovers nearly 3% from lows

Jan 20, 2021 2:29 PM

Hind Zinc reports Q3 results, net profit comes in at Rs 2,200 cr

Jan 20, 2021 2:16 PM

Budget 2021: GDP decline already factored in by markets, says Sharekhan; lists top pre-budget picks

Sharekhan pointed out that this is the first instance where India has seen an economic contraction in the last many decades.Get latest Economy online at cnbctv18.com

Jan 20, 2021 1:56 PM

Cautious on Indian market in near term; positive on real estate, IT: Emkay Global

Krishna Kumar Karwa, MD at Emkay Global, is bullish on the Indian market for medium term but is cautious in the short term. He believes one should be prepared for some price correction and time correction. “We stay invested but if you feel uncomfortable or your asset allocation dictate too much in favour of equity, then there is no harm in taking money off the table,” he said in an interview with CNBC-TV18.

In terms of real estate stocks, he said, “My sense is that the real estate sector has been going through a downturn for almost 7-8 years and in the last three-six months, we are seeing some uptick because of lower interest rates and affordability factors. This is just the beginning as far as the sector tailwinds are concerned, we are very positive on the whole chain right from developers, to building materials, to housing finance companies. This sector has a large rub-off effect, we are very positive.” More here

Jan 20, 2021 1:44 PM

Federal Bank's Q3 net profit slides on a yearly basis while net interest income improves

Jan 20, 2021 1:30 PM

Expect PSUs to remain in focus; positive on metals: Indiacharts.com

Rohit Srivastava, Founder & Strategist of Indiacharts.com on Wednesday said that he expects PSU stocks to remain in focus. “We have strength in sectors like PSUs. So, at least from a one-month perspective and running into the Budget and after, I will look at public sector stocks as one segment that I would want to be in because they are in early stages of a turnaround, getting interest back because of divestment. So momentum there may actually continue,” he said in an interview to CNBC-TV18. Srivastava is also positive on metals and expects it to continue to do well. “The other sector which we have been positive on for 8-9 months is metals. So metals because of the falling dollar, the emerging markets trade doing pretty well – that is a trend that is not over. I think it is something that is going to go on for couple of years,” he said. Watch the video for more

Jan 20, 2021 1:14 PM

Intend to grow gold loan share in portfolio to 50%, says CSB Bank's CVR Rajendran

CSB Bank's net interest margins improved sharply to become the best in the industry but asset quality remains a pain point with quick deterioration. Aided by a smaller base, south-based CSB Bank on Tuesday posted an 88 percent jump in December quarter net profit at Rs 53 crore, but witnessed a jump in provisions for bad loans. The Kerala-based private sector lender’s core net interest income grew by 61.8 percent to Rs 155.2 crore during the reporting quarter, while the treasury profits helped in non-interest income more than doubling to Rs 116.6 crore. In an interview to CNBC-TV18, CVR Rajendran, MD & CEO of CSB Bank said there is an intend to grow the gold loan share in the portfolio to 50 percent. "It’s the most secured loan as there is so much of an uncertainty around. We have given a lot of loan against property (LAP) loans. To repossess the assets, we are not able to sell any asset; there is no buyer for any of these assets," said Rajendran. More here

Jan 20, 2021 1:02 PM

Jan 20, 2021 12:47 PM

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