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Jun 11, 2024
Crude oil falls after industry data points to jump in US crude stocks

Oil prices slipped in early Asian trade on Wednesday after falling by more than $1 a barrel in the previous session as industry data pointed to a much bigger-than-expected surge in U.S. crude inventories. Brent crude futures lost 20 cents to $85.38 per barrel by 0111 GMT, while U.S. West Texas Intermediate (WTI) crude futures shed 19 cents to $78.87.

U.S. crude inventories rose by about 10.5 million barrels in the week ended Feb. 10, according to market sources citing American Petroleum Institute figures on Tuesday. The build was much larger than the 1.2 million-barrel rise that nine analysts polled by Reuters had expected, potentially pointing to a drop in fuel demand.

Helping to support prices, the Organization of the Petroleum Exporting Countries (OPEC) raised its 2023 global oil demand growth forecast in its first upward revision for months, on China’s reopening, and trimmed supply forecasts for major non-OPEC producers, indicating a tighter market. Global oil demand will rise this year by 2.32 million barrels per day (bpd), or 2.3%, OPEC said, raising the forecast from February by 100,000 bp

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Jun 8, 2024
Rupee opens higher, may appreciate to 81.30; volatility likely ahead of RBI MPC meeting

Rupee opened nearly 60 paise lower at 82.41 per dollar on Monday amid rise in the value of greenback against a basket of six peers and global crude oil benchmarks. At the interbank foreign exchange, the domestic unit opened weak at 82.35 against the dollar, then fell to 82.50, registering a decline of 42 paise over its last close. In the previous session, rupee settled at 82.08 against the US dollar. The dollar index was trading 0.2% higher at 102.9. Rupee is expected to appreciate amid rise in risk appetite in equity markets. Meanwhile, sharp upside may be prevented on strong dollar and persistent FII outflows. Additionally, investors will now closely watch RBI’s monetary policy scheduled on February 8, where the central bank may hike rates by 25 bps.

“The US$INR is likely to break the key support level of 81.85 to continue trading towards the level of 81.75,” said ICICIdirect. FDI inflows and RBI stance could be the supportive point for Rupee. Whereas, FPIs and stronger USD could pressurize the same. The RBI policy could turn out to be a tiebreaker. Overall, we are expecting that the pair should face a strong resistance near 82.40-50 levels, and further RBI could also intervene around those levels; which could make a reversal towards 81.50-81.30 levels again, said Amit Pabari, MD, CR Forex Advisors.

The rupee started this Monday on a weaker note against the dollar after a better-than-expected US jobs report prompted investors to bet on more Federal Reserve rate increases, said Sriram Iyer, Senior Research Analyst at Reliance Securities. Supports for the USD/INR spot pair are at 81.9100 and 81.6000, and resistances are at 82.5000 and 82.7500 and the pair could remain within the levels this Monday, Iyer added. In the domestic equity market, the 30-share BSE Sensex was trading 242.95 points or 0.40% lower at 60,598.93. The broader NSE Nifty 50 declined 100.20 points or 0.56% to 17,753.85.

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Jun 2, 2024
Adani group stock rout unstoppable; 6 scrips at lower circuit, Adani Enterprises falls 2% ahead of Q3 results

Adani group stocks continued to bleed on Tuesday with six scrips hitting the lower circuit. The rout continues even after the Gautam Adani-led conglomerate appointed accountancy firm Grant Thornton for independent audits of some of its companies in a bid to discredit claims by short-seller Hindenburg Research that have battered its stocks and bonds. Adani Enterprises shares fell nearly 3% to Rs 1,667 on NSE ahead of Q3 earnings report. Note that valuation guru Aswath Damodaran found the stock to be worth Rs 945 apiece.

Adani Power, Adani Green Energy, Adani Wilmar, Adani Total Gas and Adani Transmission stocks tumbled to hit 5% lower circuit in early trade on Tuesday. Meanwhile, Adani Ports was trading marginally higher at Rs 555.80, up 0.38% on NSE. Adani group-owned Ambuja Cements shares were down 1.56% at Rs 337, while ACC fell 1.82% to Rs 1,789. Shares of NDTV also hit the lower circuit, and were trading at Rs 188 on the National Stock Exchange.

Adani Group has strongly denied the allegations but investors remain concerned. Shares in the group’s seven listed subsidiaries have cumulatively lost about $120 billion in market value in the last three weeks. The conglomerate said last week it was considering an independent evaluation of issues relating to legal compliance, related party transactions and internal controls following the Hindenburg report.

Moody’s downgrades ratings outlooks of 4 Adani group companies

As Adani group stocks continued to hit new lows everyday, Moody’s Investor Service has downgraded the ratings outlooks of four Adani group companies including Adani Green Energy Ltd to ‘negative’ from ‘stable’. “These rating actions follow the significant and rapid decline in the market equity values of the Adani Group companies following the recent release of a report from a short-seller highlighting governance concerns in the Group,” Moody’s said in a statement. Further, Moody’s kept outlook and ratings stable on four other Adani group companies, including Adani Ports and Special Economic Zone Ltd.

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Jun 1, 2024
Markets Ahead: Sensex, Nifty end mixed for second session; valuation drags, indices may trade flat in near term

The benchmark domestic indices NSE Nifty and BSE Sensex concluded the day’s session mixed, as the Adani stock rout continued to drag Nifty 50. Sensex gained 224 or 0.38% to settle at 59,932, while Nifty closed flat, lower by 5 points after a volatile trading session. In the broader markets, small-caps continued to shine, gaining 0.59%. Sectorally, Nifty FMCG gained 2.28%, while Nifty Oil & Gas shed 1.97%.

Markets Decoded: Adani stocks continue to impact markets

“Despite a growth oriented budget, drop in crude prices and upside in the global market, the domestic market is not able to gain because of the Adani saga having a ripple impact on the investors. In addition, the premium valuation of India continues to weigh down the performance compared to other emerging markets which are expecting upside in the economy. The global markets are positive in assumption of being in the last phase of the rate hikes.” – Vinod Nair, Head of Research, Geojit Financial Services

Nifty Technical View: Resistance seen between 17,700-17,800

“The benchmark Nifty has been hovering within a falling channel, where it has found support at the lower band of the said channel. The trend looks negative, with the RSI trending upside down. A resistance level on the higher end is visible at 17,750, above which the Nifty may move up towards 17,950. On the lower end, support is pegged at 17,450, below which the correction may resume.” – Rupak De, Senior Technical Analyst, LKP Securities

“On the technical front, no sign of respite was seen in the index as it struggled in a tight range. The 200-day SMA is much in the vicinity now and with the ongoing lackluster participation of the bulls, there could be a higher probability of it being tested. As far as levels are concerned, the pivotal support of 17,500 remains the key support and any breakthrough could open room for the 200 SMA, which is placed around the 17,290-odd level. While on the higher end, until we decisively surpass the 17,700-17,800 zone, such timidity is likely to continue.” – Osho Krishan, Sr. Analyst – Technical & Derivative Research, Angel One

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Jun 1, 2024
Jaitaran Rajasthan Assembly Constituency Election 2023: Date of Result, Voting, Counting; Candidates

Jaitaran RJ Assembly Election 2023 Details: The election for Jaitaran Assembly Constituency in Rajasthan will be held on November 25 this year. The final date of voting and result were known after the formal announcement by the Election Commission of India. Here are the important details of the Jaitaran Constituency Assembly Election 2023 that you should know.

Jaitaran Constituency Rajasthan Assembly Election 2023: Voting Date

November 25 is the date of voting for the Jaitaran Assembly Constituency Election 2023 as announced by the Election Commission of India.

Jaitaran Constituency Rajasthan Election 2023: Candidates List

Bharatiya Janta Party (BJP), Congress and other political parties in the state will announce their candidates for the Jaitaran Assembly Constituency Election 2023 after the announcement of voting dates by the Election Commission of India.

Why Jaitaran Constituency Assembly Election 2023 is Important

Jaitaran is a state Assembly/Vidhan Sabha constituency in the state of Rajasthan and is part of the Jaitaran Lok Sabha/Parliamentary constituency. Jaitaran falls in the Jaitaran district of Rajasthan and is categorised as an urban seat.

Jaitaran Constituency RJ Election Result: What happened in 2018

Avinash of the Bharatiya Janata Party was the winning candidate from the Jaitaran constituency in the RJ Assembly elections 2018, securing 65607 votes while 53419 votes were polled in favour of Dilip Choudhary of the Indian National Congress. The margin of victory was 12188 votes.

2018 Jaitaran Assembly Constituency Election Result

Winning Candidate NameParty NameTotal VotesAvinashBharatiya Janata Party65607

Candidate List Party Name Votes Gained (Vote %) Avinash Bharatiya Janata Party 65607 (33.6%) Dilip Choudhary Indian National Congress 53419 (27.36%) Krishan Singh Gurjar Independent 19112 (9.79%) Surendra Goyal Independent 17684 (9.06%) Mukut Singh Independent 11198 (5.73%) Pukh Raj Dalit Kranti Dal 10203 (5.22%) Rajesh Kumar Kumawat Independent 5931 (3.04%) Vishnu Kumar Dadhich Independent 1774 (0.91%) Shankar Lal Bahujan Samaj Party 1391 (0.71%) Manish Kumar Choudhary Independent 1313 (0.67%) Shankar Lal Independent 1265 (0.65%) Kaluram Independent 966 (0.49%) Mohan Singh Hindustan Shakti Sena 966 (0.49%) Harish Chand Hind Congress Party 850 (0.44%) None Of The Above None Of The Above 809 (0.41%) Bhagwati Singh Bharat Vahini Party 753 (0.39%) Suva Lal Independent 533 (0.27%) Gopal Singh Abhinav Rajasthan Party 490 (0.25%) Dharam Chand Independent 463 (0.24%) Bhagirath Aam Aadmi Party 281 (0.14%) Ladusingh Bharatiya Yuva Shakti 265 (0.14%)

Jaitaran Constituency RJ Election Result: What happened in 2013

Surendra Goyal of the Bharatiya Janata Party was the winning candidate from the Jaitaran constituency in the RJ Assembly elections 2013, securing 81066 votes while 46192 votes were polled in favour of Dilip Choudhary of the Indian National Congress. The margin of victory was 34874 votes.

2013 Jaitaran Assembly Constituency Election Result

Winning Candidate NameParty NameTotal VotesSurendra GoyalBharatiya Janata Party81066

Candidate List Party Name Votes Gained (Vote %) Surendra Goyal Bharatiya Janata Party 81066 (48.72%) Dilip Choudhary Indian National Congress 46192 (27.76%) Krishan Singh Gurjar Independent 12636 (7.59%) Sayar Kathat Independent 6186 (3.72%) Shakti Singh Independent 2833 (1.7%) Mukut Singh Independent 2521 (1.52%) None Of The Above None Of The Above 2038 (1.22%) Durga Ram Bahujan Samaj Party 2005 (1.2%) Devkishan Gurjar Bharatiya Yuva Shakti 1671 (1%) Pema Ram Changal Independent 1574 (0.95%) Santosh Soni Independent 1522 (0.91%) Dhansingh Rathore Independent 1462 (0.88%) Gopalsingh Independent 1249 (0.75%) Kaluram Independent 905 (0.54%) Ganpat Independent 619 (0.37%) Beeka Ram As Bheekha Ram National People’s Party 583 (0.35%) Asuram Meghwal Independent 536 (0.32%) Dhagla Ram Independent 444 (0.27%) Aasha Ram Prajapat Independent 355 (0.21%)

Jaitaran Constituency RJ Election Result: What happened in 2008

Dilip Choudhary of the IND was the winning candidate from the Jaitaran constituency in the RJ Assembly elections 2008, securing 43077 votes while 36409 votes were polled in favour of Surendra Goyal of the BJP. The margin of victory was 6668 votes.

2008 Jaitaran Assembly Constituency Election Result

Winning Candidate NameParty NameTotal VotesDilip ChoudharyIND43077

Candidate List Party Name Votes Gained (Vote %) Dilip Choudhary IND 43077 (31.31%) Surendra Goyal BJP 36409 (26.47%) C D Dewal INC 28506 (20.72%) Heera Singh Chauhan LSWP 16304 (11.85%) Magraj Soni IND 4009 (2.91%) Kan Singh Rathore BSP 2239 (1.63%) Girdhari Singh IND 2007 (1.46%) Madhu Singh Rajpurohit SHS 1591 (1.16%) Shankar Lal Kumawat LJP 1479 (1.08%) Kalu Ram IND 1077 (0.78%) Kunj Bihari Sharma IND 872 (0.63%)

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May 15, 2024
Rupee depreciates on strong dollar, rising crude prices; watch this range to take positions in USDINR pair

The Indian rupee opened 10 paise lower at 82.59 per dollar on Thursday against the previous close of 82.49. The local unit is expected to depreciate today amid rising crude oil prices and strong dollar. Further, persistent FII outflow from domestic equity markets may pressurise the rupee. Meanwhile, investors will closely watch initial jobless claims data from the US, which is expected to rise from 183,000 to 190,000. The US$INR is likely to trade towards 82.80 levels, according to ICICIdirect. In the previous session, rupee volatility remained low even after the RBI raised rates by 25 bps and kept its policy focused on withdrawal of accomodative stance.

USDINR(Spot) to trade sideways

RBI Governor Shaktikanta Das on Wednesday noted that core inflation could remain sticky. Retail inflation is projected to be at 6.5% for FY23 from the previous estimate of 6.7%. GDP is projected to be at 7% for FY23 from the previous estimate of 6.8%. No major reaction was seen on Rupee and it traded in a narrow range. “Today, volatility could remain low as no major economic data is expected to be released from the US. We expect the and quote in the range of 82.40 and 82.90,” said Gaurang Somaiya, Forex & Bullion Analyst, Motilal Oswal Financial Services.

Surge in crude oil prices, sustained FII outflows to cap upside in Rupee

“We expect Rupee to trade with a slight positive bias amid risk-on sentiments in global markets and softening of greenback. However, surge in crude oil prices and sustained FII outflows may cap sharp upside. Markets participants may remain cautious ahead of statements coming in from various Fed officials for any cues on stance of the US central bank. USDINR spot price is expected to trade in a range of Rs 81.80 to Rs 83.30,” said Anuj Choudhary – Research Analyst at Sharekhan by BNP Paribas.

Watch this range for taking fresh positions in USDINR pair

“The USDINR 24 February futures contract showed profit-taking at higher levels. As per the daily technical chart, we observed that the pair is trading above its trend-line support level of 82.15 and RSI is fetching above 60 levels. Looking at the technical set-up, MACD is showing positive divergence but the pair is facing steep resistance around 82.85 levels. If the pair sustains above 82.85 levels it could witness further strength towards 83.05-83.30, else it could test its support level of 82.55-82.30 again. We suggest closely watching the levels of 82.55-82.85 for taking fresh positions in the pair in today’s session, either side breakout of the range could give further directions,” said Rahul Kalantri, VP Commodities, Mehta Equities.

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May 9, 2024
Nifty short-term term trend weak, fresh pullback rally possible above 17050; Buy SBI, Lupin, BPCL stocks

By Shrikant Chouhan

The benchmark indices corrected sharply, the Nifty 50 ended 215 points lower while the BSE Sensex was down by 703 points. On Tuesday, the market opened with a positive note but in the late afternoon it witnessed exceptional intraday sell-off. In the last two hours, the Nifty corrected over 390/1200 points. Among sectors, IT, FMCG, Reality lost the most, shed over 3 percent. Technically, on daily charts the index has formed a long bearish candle and after a long time it succeeded to close below the 200 day SMA which indicates further weakness from the current levels.

Technical stocks to buy

Cholamandalam Investment and Finance Company

BUY, CMP: Rs 736.85, TARGET: Rs 775, SL: Rs 720

The counter is trading in a rising channel constantly. The higher high and higher low chart formations are apparent in the counter. Additionally, trend indicators such as MACD and ADX are showing bullish strength. Therefore, upward movement from the current level is very likely to remain in the near term.

Lupin BUY, CMP: Rs 769.5, TARGET: Rs 810, SL: Rs 750

The stock is into a gradual up move with a higher low series on the daily scale. Additionally, it is trading in a rectangle formation near its short term moving averages. Hence, a strong base has been shaped for the new leg of an uptrend from current levels.

State Bank of India (SBI) BUY, CMP 511.8, TARGET 540, SL 500

The stock has shown a remarkable rally in the last few weeks and the trend of the stock is still in the rising direction. The higher high and higher low chart formation is evident in the counter. Additionally, the rise in volume activity is indicating a bullish continuation pattern in the near future.

Bharat Petroleum Corporation BUY, CMP: Rs 375.85, TARGET: Rs 395, SL: Rs 365

The stock had presented a remarkable up move with the bullish continuation chart patterns continuously. After a breather of a few trading sessions, the counter has formed an inverted hammer which suggests that it is ready for further upward movement from the current levels.

(Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities, Views expressed are the author’s own.)

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May 1, 2024
Why Sensex, Nifty, Bank Nifty surged today; Adani Group stocks end in green, Adani Enterprises recover sharply

Indian equity indices rallied over 1.5% on Friday with Sensex closing above 60,800 and Nifty 50 settling above 17,850 led by heavy buying in banking shares and recovery in Adani Group stocks. During the day indices remained volatile, but towards the end of the session, they surged, ending broadly in green. The NSE Nifty 50 surged 243 points or 1.38% to close at 17,854.05 and BSE Sensex skyrocketed 909 pts or 1.52% settling at 60,841.88.

Why Sensex, Nifty, Bank Nifty surged today

Adani Group stocks pull Nifty 50 out of the red zone

Adani Group stocks recovered today with Adani Ports being the top performer of the Nifty 50 index after Fitch ratings said that it saw no immediate impact on its ratings of Adani Group entities and their securities, following US short-seller Hindenburg Research’s report last week. Adani Enterprises crashed 35% in the intraday today but recovered all its losses and ended the session in green after falling for almost a week. “Markets are rising, assuming that we are in the last phase of the rate hike cycle as indicated by the Fed statement. Adani Group stocks revived post the confident statement by Total Energies, a large French energy company, raising the sentiment of the market. Pharma stocks have taken a beating as a result of weak third-quarter results,” said Vinod Nair, Head of Research at Geojit Financial Services.

“Nifty opened positive but traded flat in the initial hours. It however made a comeback in the later part of the session to close with gains. Buying continued in consumer and IT sector stocks. Beaten-down banking sector, especially PSU Banks, saw a fresh buying after BOB reported healthy Q3FY23 numbers and the expectation of SBI to announce a good result. Banking stocks will react on Monday to SBI results. Investors await key monthly US jobs data,” said Siddhartha Khemka, Head of Retail Research, at Motilal Oswal Financial Services Ltd.

Global bank’s dovish comments hint at easing inflation; RBI MPC meet eyed

Sensex, Nifty rose as a result of dovish comments from global central banks. “On Friday, Indian shares opened higher aided by a rise in optimism that the rate hike cycle may be nearing its end after global central banks hinted at inflation easing. Domestic equities are also rising as a result of dovish comments from global central banks. The European Central Bank (ECB) and the Bank of England (BoE) followed suit a day later after the United States Federal Reserve acknowledged in its monetary policy meeting on Wednesday that the disinflationary process may have begun. At its policy meeting on February 8, the Reserve Bank of India is expected to raise the key policy repo rate by 25 basis points, signalling the end of a nearly year-long tightening cycle,” said Ameya Ranadive, Equity Research Analyst at Choice Broking.

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May 1, 2024
Nifty to show strength above 16500, avoid aggressive bets in Bank Nifty; add blue chips in staggered manner

By Sameet Chavan

The Indian equity market tumbled on weekly F&O expiry day, tracking the global bourses, wherein the benchmark index NSE Nifty 50 plunged below the psychological mark of 16000 from the start of the session. The weakened macro factors have dampened the overall sentiments as we witness the relentless selling pressure in the equities. The index concluded Thursday’s session in red with another cut of over 2.22 per cent to settle at the 15808 level on the weekly expiry.

In the F&O space, we saw the addition of a few shorts in Nifty and long unwinding in the banking index. Stronger hands continue to curb liquidity in the Indian equity market and added bearish bets in index and stock futures segment. In the index options front, we saw build-up in 15800-16000 put strikes. On the other hand, 15800-16200 call strikes added fresh build-up in the coming weekly series.

Overall global weakness has poured in complete water on yesterday’s promise the banking stocks had left us with. But not to surprise, this is the perfect characteristic of a downtrend. Both Nifty and Nifty Bank have now approached their critical levels, so it would be interesting to see whether the oversold market decides to rebound first or continue to be with the recent trend. As far as levels are concerned, 34000 – 34500 has now become a sturdy wall; whereas a sustainable move below 33200 – 33000 would lead to some panic kind of situation in this space. One should avoid trading aggressively on both sides; because we tend to see a lot of whipsaws in such situations.

The ongoing rampage is due to the global macro factors, hence any improvement from the overseas market should act as a catalyst for the bulls. Technically, the bearish formation would only get discarded above the mentioned resistance zone. Until that time, one should remain cautious and keep close track of global and domestic developments. Also, traders are advised to avoid aggressive bets and look for stock-specific action, while investors could now seize this opportunity by initiating accumulation in good blue-chip companies but in a staggered manner.

(Sameet Chavan is a Chief Analyst-Technical and Derivatives at Angel One. Views expressed are the author’s own. Please consult your financial advisor before investing.)

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May 1, 2024
Share Market Highlights: Nifty gains almost 160 pts, Sensex reclaims 61000 at close; Adani Ent shares jump 9%

Share Market News Today | Sensex, Nifty, Share Prices Highlights: Indian equity indices closed in the green territory on Tuesday. The BSE Sensex rose 600 pts or 0.99% to 61,032 and NSE Nifty 50 jumped 159 pts or 0.89% to 17,929. Adani Enterprises shares jumped 9% before paring gains, closing 1.9% higher on positive quarterly results. The top gainers on the Sensex were ITC, Reliance, Bajaj Finance, ICICI Bank and Infosys while the top losers were NTPC, UltraTech Cement, L&T, Sun Pharma and Asian Paints.

Live Updates

Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market News Live Updates Tuesday 14 February

16:12 (IST) 14 Feb 2023 WPI hits 24 month low

“The wholesale inflation has softened to 4.73%, a 24-month low. After multiple months of double-digit and elevated inflation, the WPI eased to relief. The drop in inflation numbers is primarily attributed to a decline in the prices of food items, metals, textiles, chemicals, and chemicals products. Prices of vegetables and food items usually soften in the winter season. The ease in WPI inflation will have a positive impact on industrial product prices”

– Raheel Shah, Director at BDR Pharmaceuticals

15:34 (IST) 14 Feb 2023 Nifty, Sensex close in green

Domestic equity indices NSE Nifty and BSE Sensex close their trading session in the green. Sensex gained 0.99% or 600 points to settle at 61,032. Nifty closed at 17,930, up 0.9%.

14:52 (IST) 14 Feb 2023 Adani Enterprises shares surge 9%

Adani Enterprises shares surged 9% to Rs 1862.40 on Tuesday, within minutes after the Gautam Adani-led company reported a rise in attributable PAT to Rs 820 crore, as compared to a loss of Rs 12 crore in the same period of the previous year.

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13:41 (IST) 14 Feb 2023 Nykaa shares fall over 4%

Shares of FSN E-Commerce Ventures, which operates omnichannel beauty and fashion retailer Nykaa, fell over 4%on Tuesday after the firm reported a decline in profit for the third quarter. In initial trade, the scrip of the company declined 4.41 per cent to Rs 143.05 apiece on the BSE.

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13:20 (IST) 14 Feb 2023 IT stocks approach crucial resistance levels

“Even though Nifty IT stocks have done reasonably well compared to the other sectors mainly due to a pullback in the Nasdaq stocks, currently investors should remain cautious as IT stocks approach crucial resistance levels. Nifty IT has strong resistance at 31104 on the Daily charts. Till this resistance is broken on the Daily charts, investors should avoid fresh buy positions now and wait for support levels of 30018 & 29505 to initiate fresh buy positions.” – A R Ramachandran from Tips2trades.

13:08 (IST) 14 Feb 2023 TCS, HDFC among volume toppers

TCS, HDFC, Infosys, Tata Steel, Reliance Industries, Tata Motors are among the volume toppers on the BSE Sensex-30 index.

13:08 (IST) 14 Feb 2023 NSE 52-week lows

Alternatively, 114 stocks including Bharat Rasayan, BASF India, Venky’s (India), Polyplex Corporation, Shaily Engineering Plastics, Adani Total Gas, Indigo Paints, Adani Transmission, Excel Industries, Barbeque Nation Hospitality, Seamec, Adani Green Energy, Motilal Oswal Financial Services, Matrimony.Com, Alembic Pharmaceuticals, Paras Defence and Space Technologies, Thyrocare Technologies, Olectra Greentech, Avadh Sugar & Energy, Mangalam Organics, Clariant Chemicals (India), TV Today Network are at 52 week lows.

13:07 (IST) 14 Feb 2023 NSE 52-week highs

On the NSE Nifty, 26 stocks hit their 52 week highs including Fourth Dimension Solutions, Apar Industries, APL Apollo Tubes, Axita Cotton, Mrs. Bectors Food Specialities, Cera Sanitaryware, CG Power and Industrial Solutions, Cummins India, Chaman Lal Setia Exports, Cummins India, Focus Lighting and Fixtures, The Motor & General Finance, Sanghvi Movers, MPS among others.

13:07 (IST) 14 Feb 2023 BSE 52-week lows

On the flip side, 150 stocks fell to their 52 week lows. Aditya Birla Sun Life AMC, Adani Green Energy, Adani Transmission, AMAL, Aksharchem (India), Alembic Pharmaceuticals, Adani Total Gas, Avadh Sugar & Energy, Borosil Renewables, Bharat Rasayan, Clariant Chemicals (India), Dollar Industries, BASF India, EKI Energy Services, HLE Glascoat, Graphite India, GRM Overseas, Excel Industries, Indigo Paints, Infobeans Technologies, Kanchi Karpooram, Kamdhenu Ventures, Olectra Greentech, KSE, Matrimony.com, Polyplex Corporation and others were among these scrips.

13:01 (IST) 14 Feb 2023 BSE 52-week highs

On the BSE Sensex, 75 stocks rose to hit fresh 52 week highs. Apar Industries, Taylormade Renewables, Veerkrupa Jewellers, Waaree Renewable Technologies, Polychem, MPS, Manomay Tex India, Sanghvi Movers, SAR Auto Products, Ovobel Foods, Jindal Saw, KPT Industries, H.G. Infra Engineering, Ganesh Benzoplast, Cummins India, Cigniti Technologies, Cera Sanitaryware and many others were among those to hit these highs.

13:01 (IST) 14 Feb 2023 HCL Tech lead gains; Adani Enterprises among losers

On the NSE Nifty index, the top winners are UPL, HCL Tech, ITC, Infosys, TechM, with UPL up 3.9%. The biggest laggards are Adani Enterprises, SBI Life, Power Grid, NTPC and Sun Pharma with Adani Enterprises down 2.12%.

12:59 (IST) 14 Feb 2023 Adani stocks, RIL, SBI among most active equities

Adani Enterprises, Adani Ports, Reliance Industries, SBI, ICICI Bank are the most active Nifty 50 stocks intraday.

12:53 (IST) 14 Feb 2023 India’s WPI inflation eases to 4.73% in January

India’s wholesale price-based inflation eased for the eight consecutive month to 4.73% in January on easing prices of manufactured items, fuel and power. The WPI inflation rate was 4.95% in December 2022 and 13.68% in January 2022.

11:55 (IST) 14 Feb 2023 Nifty IT rises over 400 pts

Nifty IT index rose 428 pts or 1.41% to 30,717 in the intraday trade on Tuesday. HCL Tech led gains, rising 2.61%, followed by Infosys, LTIM, Tech Mahindra, LTTS and Wipro.

09:24 (IST) 14 Feb 2023 Top gainers/losers

The top gainers on the Sensex were Infosys, TCS, Tata Steel, Wipro and HCL Tech while the top losers were Titan, Tata Motors, IndusInd Bank, Asian Paints and Sun Pharma.

09:23 (IST) 14 Feb 2023 Nifty, Sensex open in green

The BSE Sensex rose 227.04 pts or 0.38% to 60,658.88 and NSE Nifty 50 jumped  38.50 pts or 0.22% to 17,809.40.

08:44 (IST) 14 Feb 2023 US markets end in green ahead of CPI inflation data

US stock indices concluded in green on Monday, ahead of CPI inflation data, which is scheduled to be published today. The Dow Jones Industrial Average rose 376.66 pts or 1.11% to 34,245.93, S&P 500 advanced 46.83 pts or 1.14% to 4,137.29 and Nasdaq climbed 173.67 pts or 1.48% to 11,891.79.

08:40 (IST) 14 Feb 2023 Asian markets trade mixed

Asian markets were trading mixed in the early morning trade. China’s Shanghai Composite index fell 1.28 pts or 0.04% to 3,282.88, Hong Kong’s Hang Seng dropped 26.42 pts or 0.12% to 21,138.00, Japan’s Nikkei 225 rose 152.29 pts or 0.56% to 27,579.61 and South Korea’s KOSPI climbed 18.54 pts or 0.76% to 2,471.24.

08:34 (IST) 14 Feb 2023 RBI unlikely to change stance in April policy; 25 bps hike a distinct possibility now

“The January CPI inflation print at 6.5% is much ahead of our estimate of 6.1%. Much of this sharp increase in inflation is due to high cereal price inflation and partly due to an unfavourable base. However, with cereal prices staying on the upside, inflation could remain around the 5.5-6% mark in the near term. The hawkish tone of the RBI in the February policy seems justified with both headline and core inflation (at 6.4% in January) remaining sticky and elevated. The RBI is unlikely to change its stance in the April policy while a 25 bps hike is a distinct possibility now (compared to a larger probability of pause earlier).” – Suvodeep Rakshit, Senior economist at Kotak Institutional Equities.

08:30 (IST) 14 Feb 2023 Bank Nifty remains in sell-on-rise mode

“The Bank Nifty index faced selling pressure at the higher levels and failed to surpass the level of 41800. The options data indicates the resistance at 42000 where the highest open interests are built up on the call side. The index once closes above 42000 will sharp short covering towards 43000-43500 levels. The index remains in a sell-on-rise mode as long it stays below the level of 42000.” – Kunal Shah, Senior Technical Analyst at LKP Securities.

08:28 (IST) 14 Feb 2023 Nifty trend looks sideways to negative for the near term

“The Nifty has formed a bearish engulfing pattern on the daily chart as sellers outnumbered buyers during the session. On the daily chart, the index found resistance around the upper band of the falling channel, resulting in a fall towards 17700. The momentum oscillator RSI is about to enter a bearish crossover on the daily chart. The trend looks sideways to negative for the near term as the headline index failed to provide an upside breakout. On the lower end, crucial support is visible at 17650, below which Nifty may witness a significant correction.” – Rupak De, Senior Technical Analyst at LKP Securities.

08:26 (IST) 14 Feb 2023 Adani Enterprises Q3 results today

Adani Enterprises, the flagship entity of Adani Group is scheduled to report its third-quarter earnings for fiscal 2023 today, on Tuesday, February 14. The group made headlines after US-based short-seller Hindenburg Research accused the Adani Group/family of stock manipulation and money laundering. The company’s stocks fell 50% in the aftermath of Hindenburg’s report, losing over Rs 9 lakh crore in market capitalisation in just a few days.

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08:23 (IST) 14 Feb 2023 CPI inflation jumps to 3-month high after falling 3 months in a row

India’s CPI inflation took a spooky U-turn in January, jumping to a 3-month high of 6.52% after falling for three months in a row, and breaching the Reserve Bank of India’s (RBI) tolerance range. The spike in retail inflation in January was mainly due to a spike in food prices, according to the Ministry of Statistics and Programme Implementation report, published on Monday. In the earlier months, the inflation rate based on the Consumer Price Index (CPI) stood at 5.72% in December and 6.01%in January 2022.

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