ADVERTISEMENT

Sensex, Nifty Begin New Year With Best Week In Four Months

Catch all live updates on share prices, index moves, corporate announcements and more from the Sensex and Nifty, today.

<div class="paragraphs"><p>A bronze bull statue stands at the entrance to the Bombay Stock Exchange  building in Mumbai. (Photographer: Dhiraj Singh/Bloomberg)</p></div>
A bronze bull statue stands at the entrance to the Bombay Stock Exchange building in Mumbai. (Photographer: Dhiraj Singh/Bloomberg)
LIVE FEED
Latest First
  • Oldest First

Closing Bell

India's stock benchmarks logged the best week in four months to start 2021 on a positive note.

Banking stocks led the rally with the Nifty Bank and Nifty PSU Bank indices leading the weekly sectoral gains.

On Friday's session, the S&P BSE Sensex rose 0.24% to 59,744.65. The 30-stock gauge rose to 60,130.18 in intraday trade before paring the gains. The NSE Nifty 50 also advanced by similar magnitude to 17,812.70.

Sensex, Nifty Begin New Year With Best Week In Four Months

Grasim Industries Ltd. had the largest increase, rising 4.5%. Today, 32 of 50 shares rose, while 18 fell.

Sensex, Nifty Begin New Year With Best Week In Four Months

The broader indices almost mirrored their larger peers with gains of nearly 0.5%. Thirteen of the 19 sectoral indices compiled by BSE Ltd. advanced with S&P BSE Basic Materials and Oil & Gas rising over 1%.

The market breadth was skewed in the favour of bulls. About 2,104 stocks advanced, 1,305 declined and 84 remained unchanged.

"Nifty came off days high in mid-morning, however after witnessing minor sell off it reclaimed its positive stance and ended the session with gains of 67points (+0.4%) at 17,813 levels", Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd., wrote in a note and added that "while the market trend might be volatile in the near term on account of potential risk from Omicron variant, upcoming budget and fragile global cues, in the long run, strong earnings delivery along with positive macro-economic data would hold the key to drive markets".

ADVERTISEMENT

India Mandates Home Quarantine For All International Arrivals

  • All international arrivals at airports, seaports and land borders will have to undergo home quarantine for 7 days and undertake a test on the 8th day of arrival.

  • All travellers should upload a negative Covid-19 test taken a maximum of 72 hours before the journey.

Source: Health Ministry order


Peninsula Land Defaults On Loan Repayment

  • Peninsula Land Ltd. has defaulted on a payment of Rs 77.2 crore of the total outstanding amount.

  • The default is on a principal amount of Rs 67.6 crore and an interest amount of Rs 9.6 crore.

  • The company’s total financial outstanding debt is Rs 730 crore.

Source: Exchange filing

ADVERTISEMENT

JPMorgan: Weak Demand, Emission Regulation, Supply Disruptions & Commodity Inflation Led To Auto Sector Underperformance

  • JPMorgan upgrades Hero Motocorp from 'neutral' to 'over weight'; price target: Rs 2,900

  • M&M is JPMorgan's top pick in the sector. The brokerage remains 'overweight' on M&M; price target at Rs 1,150; an implied return of 37%.

  • JPMorgan remains 'overweight' on TVS Motor; price target at Rs 735; implied return of 13%.

  • JPMorgan remains 'underweight' on Maruti Suzuki; price target at Rs 6,750; implied return of -14%.

  • M&M's auto business recovery over FY21-24E should fully offset teh sofitness in farm segment.

  • Hero Motocorp's 35% stake in the electric vehicles start-up Ather Energy could be a source of value creation.

  • Q3FY22 sectoral preview: JPMorgan expects strong sequential recovery but negative YoY growth for all OEMs except Ashok Leyland.

  • Commodity costs are expected to adversely impact margins.


Winning Streaks

  • Page Industries rises for the sixth day; on track for the longest winning streak in 13 months.

  • Parag Milk Foods rises for the sixth day, on track for the longest winning streak in nearly 17 months.

Source: Bloomberg

ADVERTISEMENT