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Jan 14, 2020 03:40 PM IST | Source: Moneycontrol.com

Closing Bell: Sensex ends shy of 42,000; IndusInd Bank, Yes Bank sink

The Sensex ended 92.94 points higher at 41,952.63, while Nifty added 30.80 points to close at 12,360.30.

  • January 14, 2020 04:58 PM IST

    Santosh Meena, Senior Analyst, TradingBells:

    Indian equity market continuing its bull run by hitting a fresh all-time high for three consecutive sessions. We can say that it is a pre-budget rally where global tailwind is also supporting the current bull run. Global markets are in risk-on mood after escalation between US-Iran cooled off where they were cheerful today ahead of the signing of the US-China trade deal. The US lifts currency manipulator tag on China currency manipulator which led to positive sentiments across the global market today. Indian market ignored the sharp rise in inflation and moved higher though Banknifty is underperforming. The undertone of the market is very strong where Midcap and Smallcap space is doing very well. IndusInd bank witnessed sell-off after initial rally post its Q3 results because prima facie numbers look good but higher slippages and slowest loan growth were the cause of concern.

    Technically, Nifty is in important supply zone of 12350-12400 but it is not showing any signs of weakness where if it manages to take out this resistance zone then we can expect a rally towards 12545/12700 levels in coming days while in the downside 12300 will act as an immediate support level; below this 20-DMA of 12205 will be next important support.

  • January 14, 2020 04:43 PM IST

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

    Bulls pushed the index higher in the second half of session after consolidating for the most part of the session. Market breadth was strong as participation in mid & small caps was visible and held it steady throughout. FMCG & Metal index were leading the index. Nifty is inching towards our target zone of 12,400-12,450. We continue to have positive view on the markets and especially mid & smallcap sectors along with metal sector. Traders and investors should continue to maintain long positions and buy on dips.

  • January 14, 2020 04:41 PM IST

    Vinod Nair, Head of Research, Geojit Financial Services:
     
    Market is moving ahead ignoring the sudden jump in CPI with an optimistic view on the budget and earnings growth visible in the on-going Q3 results. The month-on-month bounce in inflation is expected to settle since a large part of the gains are one-time in nature, as indicated in the WPI which is still sober in-line with the slow activities of the economy.

  • January 14, 2020 04:37 PM IST

    Network18 Q3 profit up 92%: Network18 Media & Investments has reported a whopping 92.2 percent year-on-year growth in consolidated profit at Rs 148 crore from Rs 77 crore. The company turned profitable for the quarter as it had registered a loss of Rs 25 crore in September quarter.

    Operating revenue during the quarter fell 3.3 percent to Rs 1,474 crore compared to same period previous year.

  • January 14, 2020 04:17 PM IST

    Ajit Mishra, VP - Research, Religare Broking:

    The Indian equity indices recorded fourth straight session of gains despite weak domestic cues. After trading in a narrow range following weak inflation numbers, the indices hit fresh highs in the last hour of trade before closing at 12,362 (+0.3%). The up-move was largely led by positive global cues over increasing optimism towards US-China trade truce. Amongst the broader markets, BSE Midcap and Smallcap continued to outperform and ended with gains of 0.7-0.8%. All the sectoral indices except Banking (sharp fall in Yes bank and IndusInd Bank) ended in the green with FMCG, Metal and IT leading the pack of gainers.
     
    Despite weak macro data (inflation) investors are pinning hopes on earnings recovery and sops from the union budget. However, we remain cautious on the markets given that the indices are at its peak levels. While the global cues too look positive currently, progress of earnings season may continue to induce stock specific volatility in the markets.

  • January 14, 2020 04:03 PM IST
  • January 14, 2020 04:03 PM IST

    Wipro Q3 results: Company's IT services revenue up 3% at Rs 15,100.6 crore versus Rs 14,656.1 crore, IT services EBIT up 4.6% Rs 2,773.2 crore versus Rs 2650.7 crore, QoQ.

  • January 14, 2020 03:34 PM IST

    Market Close: The benchmark indices ended with moderate gains but off record high on January 14 with Nifty closed above 10,350.

    At close, the Sensex was up 92.94 points or 0.22% at 41,952.63, while Nifty was up 30.80 points or 0.25% at 12,360.30. About 1440 shares have advanced, 1036 shares declined, and 151 shares are unchanged. 

    Vedanta, Britannia Industries, Hero MotoCorp, ITC and Zee Entertainment were among major gainers on the Nifty, while losers were Yes Bank, IndusInd Bank, UPL, Reliance Industries and Kotak Mahindra Bank.

    Among sectors, FMCG index gained over 1 percent followed by metal, pharma, auto and IT. BSE Midcap and Smallcap Indices ended 0.7 percent higher.

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