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Jan 16, 2020 03:37 PM IST | Source: Moneycontrol.com

Closing Bell: Nifty ends above 12,350, Sensex off record high; metal stocks sink

Except metal and energy all other indices ended with marginal gains. BSE Midcap and Smallcap index closed 0.7 percent higher.

  • January 16, 2020 04:57 PM IST

    Cyient Q3 results: The company's Q3 net profit rose 10.4 percent at Rs 107.6 crore versus Rs 97.5 crore, rupee revenue was down 4.6 percent at Rs 1,105.9 crore versus Rs 1,158.9 crore, QoQ.

  • January 16, 2020 04:35 PM IST

    Manav Chopra, CMT, Head Research - Equity, Indiabulls Ventures:

    Bullish activity continues if not on the index than in broader markets as mid and small caps witness strong run. Nifty consolidated while the broader markets were buoyant. We have been bullish on mid and small caps space for a while which has played out well and is likely to gain further steam. Near term support for the Nifty is placed at 12,200 zone. We expect nifty to hit our target zone of 12,400-12,450.

  • January 16, 2020 04:22 PM IST

    Vinod Nair, Head of Research, Geojit Financial Services:

    The main indices are seeing a mild pause in the trajectory after the solid performance in the last one-month. It may wait and analyse the upcoming key companies Q3 results. Globally, the completion of the US-China deal and sudden jump in consumer inflation and NPAs in India are impacting the main indices. But broad market is still very solid in expectation of re-rate in valuation supported by revamp in earnings growth.

  • January 16, 2020 04:09 PM IST

    Ajit Mishra, VP - Research, Religare Broking:

    Nifty traded dull and settled almost on the flat note, after oscillating in a range. However, the continued buoyancy in the midcap and smallcap saved the day for the traders. Mostly sectoral indices traded in tandem with the benchmark index and ended unchanged.
     
    We’re seeing rotational buying on the sectoral front which is helping the index to inch gradually higher. However, the actual gains are in the broader markets where we’ve seen a noticeable recovery in the last two months or so. We believe domestic factors viz. earnings and budget expectations will continue to dictate the market trend in the near future, so keep a close eye on announcements for cues.
     

  • January 16, 2020 03:38 PM IST
  • January 16, 2020 03:33 PM IST

    Closing Bell: Benchmark indices ended on positive note but off record highs on January 16 with Nifty finished above 12,350 level.

    At close, the Sensex was up 59.83 points or 0.14% at 41,932.56, while Nifty was up 10.70 points or 0.09% at 12,354. About 1464 shares have advanced, 1051 shares declined, and 179 shares are unchanged.

    Eicher Motors, Nestle India, Zee Entertainment, Kotak Mahindra Bank and Bharti Airtel were among major gainers on the Nifty, while losers include GAIL, Bharti Infratel, NTPC, JSW Steel and Hindalco Industries.

    Except metal and energy all other indices ended with marginal gains. BSE Midcap and Smallcap index rose 0.7 percent each.

  • January 16, 2020 03:16 PM IST

    Morgan Stanley on Bajaj Auto: Research house put equal-weight rating on stocks with target at Rs 3,039 per share. 

    Chetak EV price represents Rs 25,000-30,000 premium to 125cc gasoline scooters and cost of running Chetak EV will be ¼ that of gasoline scooters.

    It believes that electric scooters will scale up sharply in the coming years.

  • January 16, 2020 03:04 PM IST

    Granules to consider buyback: Granules share price touched 52-week high of Rs 144.90, rising 6 percent on January 16 as company to consider buyback of equity shares of the company on January 21, 2020.

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