Market highlights: Sensex gains 496 pts, Nifty tops 25000

Stock market highlights on January 19, 2024: The S&P BSE Indices will be calculated on Saturday, January 20, 2024 , which is declared as a special trading day by the exchange

6:48 PM

ALERT:: Hindustan Zinc Q3 consolidated net slips 6%; stock up 2%

Hindustan Zinc Q3 consolidated net profit declined 5.9 per cent to Rs 2,028 crore for the quarter ended December 2023 when compared with Rs 2,156 crore in Q3FY23. Total income was down 7.4 per cent YoY at Rs 7,606 crore from Rs 8,214 crore.

6:48 PM

Sensex churn and change: How the index is like the Ship of Theseus

The ancient Greeks argued a paradox: If the Ship of Theseus had all its wooden planks replaced one by one, in the end is it still the same ship?

Similarly, the S&P Sensex has had its constituents change over the years. The churn has continued amid new all-time highs – a quarter of the stocks have been replaced since 2019.

6:47 PM

Bharti Airtel hits fresh peak, soars 5% on hopes of tariff hikes in 2024

Shares of Bharti Airtel (Airtel) surged 5 per cent on BSE to a fresh high of Rs 1,136 in Friday’s intra-day trade amid hopes of a strong year. 

Analysts expect 2024 to be robust for the telecom industry with a mid-year tariff hike and moderation in capex.

6:46 PM

BSE, NSE to conduct two special trading sessions on Saturday, January 20

The S&P BSE Indices will be calculated on  Saturday, January 20, 2024 , which is declared as a special trading day by the exchange with intraday switch over from Primary Site (PR) to Disaster Recovery Site (DR). 

Timings for trading sessions:

First session: 9.15 am to 10.00 am
Second session: 11.30 am to 12.30 pm.

6:45 PM

India to budget fiscal deficit at 5.3% of GDP in FY25: BofA Securities

The brokerage said digitization-led formalization has aided the fiscal math through tax buoyancy on one side and reducing wasteful expenditure (subsidy leakage) on the other.
 

6:43 PM

SmallCap Heatmap :: Index up 1%; RVNL, Ganesh Housing surge up to 20%

 The Company has entered into a non-exclusive arrangement with BDO India LLP by way of a Memorandum of Understanding for exploring domestic and international opportunities.

6:42 PM

Comment :: 'Fund rotation within sectors likely going ahead'

A 'buy on dips' and encouraging global cues propelled the market's recovery.

Today’s rebound was broad based; however, investors are disappointed and expect moderation in the rally as FIIs persist with risk-off sparked by the likelihood that interest rates may not moderate and domestic earnings growth can slow down as per the initial Q3 results announced.

Sector rotation is likely to propel going ahead

Views by: Vinod Nair, Head of Research, Geojit Financial Services.

6:39 PM

Tech View :: 'Pullback rally to fizzle at 21,800; Adopt sell-on-rise on Nifty'

Nifty50

On the daily charts, we can observe that the Nifty is witnessing a counter trend pullback of the fall from 22,124 to 21,285. The 50% and 61.82% fibonacci retracement levels are placed at 21,705 – 21,804 where we can expect the selling pressure to resume.

The hourly momentum indicator has reached the equilibrium line indicating that the pullback is nearing completion, Overall, we believe that trend is negative, and this pullback should be used as a selling opportunity.

In terms of levels, 21,705 – 21,804 is the immediate hurdle zone while 21,570 – 21,500 is the crucial support zone.

6:37 PM

Comment :: 'Fund rotation within sectors likely going ahead'

A 'buy on dips' and encouraging global cues propelled the market's recovery.

Today’s rebound was broad based; however, investors are disappointed and expect moderation in the rally as FIIs persist with risk-off sparked by the likelihood that interest rates may not moderate and domestic earnings growth can slow down as per the initial Q3 results announced.

Sector rotation is likely to propel going ahead

Views by: Vinod Nair, Head of Research, Geojit Financial Services.