Here's a quick recap of markets this week

- Sensex, Nifty & Nifty Bank Gain Less Than 1% Each For The Week

- Nifty Midcap Index Falls 1.2% For The Week; 1ST Weekly Negative Close Of 2021

- Metal & Pharma Fall the Most While PSU Bank & Auto Gain The Most This Week

- Tata Motors, Bharti Airtel, ITC, M&M Top Nifty Gainers This Week

- Asian Paints, Bajaj Finserv, Divi’s, Hindalco Top Nifty Losers This Week

Jan 15, 2021 3:44 PM

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

- Frontline Indices Fall 1% Each; Biggest One-day Fall For Sensex & Nifty In A Month

- Heavyweights Drag Market With 41 Nifty Stocks Closing In the Red

- IT Stocks See Profit Booking After A Strong Q3 By HCL Tech; Stocks Down Up To 4%

- Nifty Falls 162 Points To 14,434 & Sensex 549 Points To 49,035

- Nifty Bank Slips 273 Points To 32,247 & Midcap Index 235 Points To 21,934

- All Sectoral Indices Close Lower While Volatility Index Gains More Than 4%

- Tata Motors Continues The Gaining Momentum, Closes At A 28-month High

- Bharti Airtel Gains 4% On An Expectation Of A Weightage Gain In MSCI Qtrly Review

- Vodafone Surges Over 10% To Close At A 52-week High

- Tata Steel Long Product Ends At An Upper Circuit After Reporting Strong Q3 Earnings

- GAIL’s Buyback Price Of `150/Sh Fails To Boost Sentiment, Stock Down Over 5%

- PVR Reports Loss, But Lower Than Estimates; Stock Closes Nearly 3% Higher

- Market Breadth Favours Declines; Advance-Decline Ratio At 2:5

Jan 15, 2021 3:43 PM

Closing Bell: Sensex, Nifty end over 1% lower; IT stocks drag, Nifty IT down 2%

Indian indices ended over a percent lower on Friday as major selling was seen in all sectors during the day. The IT sector fell the most, over 2 percent followed by the pharma index, which was down 1.5 percent. Nifty Bank, Nifty Auto, Nifty FMCG and Nifty Metals also lost between 0.5 percent and 1 percent for the day. The Sensex ended 549 points lower at 49,034 while the Nifty lost 162 points to settle at 14,434. On the Nifty50 index, Tata Motors, Bharti AIrtel, UPL, ITC, and Grasim were teh top gainers while Tech Mahindra, Wipro, HCL Tech, GAIL and ONGC led the losses. Broader markets were also in line with the benchmark with the Nifty midcap and Nifty smallcap indices down over a percent each.

Jan 15, 2021 3:32 PM

Commodity outlook: What should you bet on?

Commodities are in fashion as investors carve the market for a great reflation play. Commodities are stereotypical, cyclical assets rising and falling in synchrony with a global economy that puts them…

Jan 15, 2021 3:21 PM

Jan 15, 2021 3:12 PM

Budget 2021: It is more about implementation than about intent, says UTI AMC

People make too much noise about the budget, said Vetri Subramaniam, Group President and Head-Equity at UTI Asset Management Company, on Friday. Subramaniam believes the impact of the budget over the years has declined and the market tends to get in a frenzy in both directions. “The most important thing in this budget is not where you spend but how quickly you spend. It is more about implementation than it is about intent,” he said in an interview with CNBC-TV18.

The September quarter delivered surprising earnings, he said. “As against the expectation of a decline, we had 17 percent earnings growth. Based on all the high-frequency indicators, the recovery in growth – the trajectory of that recovery sustained through the quarter-ended December. So I won’t be surprised if some of that shows up in the numbers.” More here

Jan 15, 2021 2:58 PM

Next 5 years to be better than last 5 years for tech services sector: HCL Tech’s Vijayakumar

HCL Technologies President & CEO C Vijayakumar on Friday said that the next five years will be better than the last five years for the tech services industry. “Tech adoption, cloud migration, and digital transformation - all of that is going to drive good momentum. If I look at the bookings in the past quarter and if I look at the demand environment, I continue to feel very positive about our outlook for FY22," said Vijayakumar in an interview with CNBC-TV18. The comments came after HCL Technologies reported better than expected earnings for the December quarter. The company reported a revenue growth of 3.5 percent, ahead of its own guidance, while margins have come in at a six-year high. The company has also upped its revenue and margin guidance going ahead. More here

Jan 15, 2021 2:44 PM

Tata Motors stock zooms 5% after tweet triggers Tesla tie-up speculation

Tata Motors' stock which has been rallying in in the last couple of weeks, rallied more than 5 percent from an unverified account hinted at a tie-up with Elon Musk's Tesla. The auto major has quickly denied this. "Tata Motors has not taken any decision regarding a strategic partner for PV business," the company spokesperson told CNBC-TV18.

Jan 15, 2021 2:30 PM

GAIL stock after announcing share buyback and interim dividend of Rs 2.50/share

Jan 15, 2021 2:13 PM

PFC launches taxable bond issue of Rs 5,000 crore; says exploring insurance in international markets too

State-owned Power Finance Corporation (PFC) has announced the launch of its maiden taxable bond issue of Rs 5,000 crore for individual buyers that will open today, on January 15, 2021. The company has also indicated that it would come out with more such issues going forward. RS Dhillon, CMD of PFC, spoke to CNBC-TV18 discussed this.

Jan 15, 2021 2:00 PM

Ashok Leyland gains as Govt is likely to consider Scrappage Policy in the Budget

Jan 15, 2021 1:43 PM

Morningstar Investment Adviser: Total fund exposure to Bharti Airtel has risen to 2.8% from 1% earlier

MSCI has said that the weightage of Bharti Airtel in the MSCI Global Standard Indices will be raised in the February 2021 quarterly review. Domestic fund managers have been adding positions in Bharti over the last couple of years, making it the sixth-largest stock holding by mutual funds. The total fund exposure to Bharti has risen to 2.8 percent for earlier 1 percent, said Kaustubh Belapurkar, Director-Fund Research of Morningstar Investment Adviser on Friday.

“It has been an interesting move in Bharti over the last couple of years. If I look at the exposure that managers had on an aggregate basis of their overall equity exposure, it was about less than a percent when I go back two years in December 2018. A few managers started adding up through the course of 2019 and that exposure on an aggregate basis went up to 1.8 percent. But 2020 was a different ball game altogether where we had a significant amount of additions happening. So that number has actually gone up to 2.8 percent which has allowed Bharti to leapfrog in the overall holdings that managers hold,” he told CNBC-TV18. More here

Jan 15, 2021 1:33 PM

When an upset FII hammered SBI shares, but was let off with a warning

The government suspects that shares of divestment candidate Bharat Petroleum Corporation are being artificially suppressed in the run-up to the stake sale, according to a report in the Mint. BPCL shares have fallen 10 percent over the last year, compared to a 4 percent rise in the benchmark indices. Shares of other PSU oil marketing companies—HPCL and IOC—too have underperformed benchmark indices during the same period. However, BPCL’s underperformance is surprising considering that prospective bidders would be willing to pay a premium. Hammering of stock prices by rivals, disgruntled elements or opportunistic traders is a common practice in stock markets globally. More here

Jan 15, 2021 1:16 PM

Scrappage policy coming in 2 weeks

Jan 15, 2021 12:59 PM

Gold rises on US stimulus hopes, dovish Fed stance

Gold ticked up on Friday as prospects of a substantial US pandemic relief package boosted the metal’s appeal as an inflation hedge, while the Federal Reserve’s dovish monetary policy stance also supported prices. Spot gold rose 0.1 percent to USD 1,848.75 per ounce by 0548 GMT, while US gold futures were flat at USD 1,851. ”The stimulus is going to be bullish for asset markets and with the Fed chair quashing any prospects of raising interest rates or dialling down bond buying anytime soon, gold is supported,” said Jeffrey Halley, a senior market analyst at OANDA. But the price action in gold has consolidated and it is not showing any signs of trying to break out to the upside, Halley said. More here

Jan 15, 2021 12:46 PM

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