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January 27, 2023 / 04:05 PM IST

Closing Bell: Nifty ends near 17,600, Sensex tanks 874 pts; PSU bank, oil & gas worst hit

PSU Bank, oil & gas, power and metal indices down 4-6 percent.

  • Closing Bell: Nifty ends near 17,600, Sensex tanks 874 pts; PSU bank, oil & gas worst hit
    Stock Market Today:
    • 03:25 PM IST

      CLSA maintains 'buy' rating on Bajaj Auto, raises target price to Rs 4,619

    • 03:14 PM IST

      Dilip Buildcon declared lowest bidder for projects worth Rs 1,373 crore

    • 03:12 PM IST

      Morgan Stanley keeps Equal-weight rating on Macrotech Developers, target Rs 1,145

    • 03:05 PM IST

      USFDA issues Zero observation to Gland Pharma after inspection at API facility at Visakhapatnam

    • 02:57 PM IST

      Patanjali Foods Q3 profit rises 16% to Rs 269 crore; shares down 5%

    • 02:55 PM IST

      Nomura keeps buy rating on Tata Motors, target Rs 508

    • 02:45 PM IST

      T+1 settlement rule comes into effect from today

    • 02:45 PM IST

      Morgan Stanley maintains ‘Overweight’ rating on Dr Reddy's Laboratories, target at Rs 5,099

    • 02:41 PM IST

      Growth-inflation dynamics will continue to evolve, expect a change in the tax slabs: Expert

    • 02:14 PM IST

      Zydus Lifesciences says US FDA issued nil observations for company's Moraiya, Ahmedabad manufacturing unit

    • 02:10 PM IST

      Adani Enterprises FPO subscribed 1% on Day 1, retail portion booked 1%

    • 02:01 PM IST

      Sensex plunges 1,100 points, Nifty around 17,550

    • 01:58 PM IST

      Nirmal Bang maintains 'buy' on Cipla, target Rs 1,263

    • 01:45 PM IST

      Nifty PSU Bank index plunges 5 percent dragged by Indian Bank, Central Bank of India, Indian Overseas Bank

    • 01:43 PM IST

      Nifty PSU Bank index plunges 5 percent dragged by Indian Bank, Central Bank of India, Indian Overseas Bank

    • 01:41 PM IST

      Chennai Petroleum Corporation Q3 profit jumps 752% QoQ to Rs 144 crore

    • 01:34 PM IST

      Credit Suisse downgrades Dixon Technologies to Neutral, target Rs 4,500

    • 01:29 PM IST

      Kotak Institutional Equities keeps ‘Buy’ rating on Cipla, target Rs 1,255

    • 01:27 PM IST

      Sterlite Technologies posts 15 percent jump in its Q3 net profit at Rs 46 crore

    • 01:03 PM IST

      Indices trade near the day's low with Nifty around 17550

    • 01:00 PM IST

      Glenmark Pharma posts net profit at Rs 105 crore in the quarter ended December 2022

    • 12:58 PM IST

      Macquarie keeps ‘Outperform’ rating on Cipla, target Rs 1,235

    • 12:56 PM IST

      Greaves Cotton collaborates with UK-based Eta Green Power

    • 12:54 PM IST

      Torrent Pharma Q3 profit rises 14% to Rs 283 crore; share price fall

    • 12:52 PM IST

      UN cuts India's 2023 growth forecast by 20 basis points

    • 12:50 PM IST

      BSE Midcap index falls 2.5 percent dragged by ACC, Union Bank of India, HPCL

    • 12:46 PM IST

      BSE Smallcap index shed 2 percent dragged by GTL Infrastructure, Dixon Technologies, Kiri Industries

    • 12:43 PM IST

      SJVN sells its entire stake in Bhutanese JV Kholongchhu Hydro Energy for Rs 354.7 crore

    • 12:39 PM IST

      Macquarie keeps ‘Outperform’ rating on Dr Reddy's Laboratories with a target at Rs 4,915 per share

    • 12:37 PM IST

      Sharekhan Maintain 'Buy' on Bajaj Auto with Price Target of Rs 4,151

    • 12:31 PM IST

      Jefferies maintains ‘Buy’ rating on Tata Motors, target Rs 565

    • 12:29 PM IST

      Jio launches true 5G in all six states of the North-East circle

    • 12:20 PM IST

      Indices at day's low with Nifty around 17,600; Sensex plunges 900 points

    • 12:19 PM IST

      Amara Raja Batteries Q3 profit grows 53% YoY to Rs 222 crore, revenue up 12%

    • 12:15 PM IST

      Ceat reports reports Q3 profit at Rs 35.4 crore, revenue grows 13% to Rs 2,727 crore

    • 12:13 PM IST

      Dr. Reddy's launched Difluprednate Ophthalmic Emulsion in the US market

    • 12:07 PM IST

      Jefferies keeps ‘Buy’ rating on Bajaj Auto, target at Rs 4,300

    • 12:05 PM IST

      Nirmal Bang maintains 'Accumulate' rating on Dr Reddy's Laboratories, target Rs 4,745

    • 12:02 PM IST

      Adani Group stocks plunges 5-20% as Adani Enterprises FPO opens

    • 11:52 AM IST

      DLF plans to launch premium housing project in Gurugram

    • 11:48 AM IST

      VIP Industries Q3 profit grows 32% to Rs 44 crore

    • 11:35 AM IST

      Patanjali Foods hits lower circuit as Q3 EBITDA falls 12 percent

    • 11:03 AM IST

      About 854 shares have advanced, 2261 shares declined, and 106 shares are unchanged

    • 10:54 AM IST

      Dixon Technologies tanks 18% in worst-ever fall on weak Q3, FY23 guidance cut

    • 10:52 AM IST

      Anupam Rasayan posts 13 percent rise in net profit at Rs 43 crore

    • 10:36 AM IST

      BSE Healthcare index up 0.5 percent led by Unichem Laboratories, Aarti Drugs, Dr Reddy's Laboratories

    • 10:30 AM IST

      Blue Dart falls as Q3 profit tanks 28% to Rs 89 crore

    • 10:24 AM IST

      DLF in focus after Q3 profit surges 37% to Rs 519 crore

    • 10:17 AM IST

      Solara Active Pharma successfully completes WHO inspection at Cuddalore facility, Tamil Nadu

    • 10:14 AM IST

      Nifty breaches 17,700 for the first time since October 27, 2022

    • 10:12 AM IST

      LTIMindtree partners with Duck Creek and Microsoft to build a cloud migration solution for insurers

    • 10:08 AM IST

      Adani Enterprises FPO opens, price band at Rs 3,112-3,276 per share

    • 10:00 AM IST

      Nifty below 17,800, Sensex tanks 550 points; Tata Motors, Bajaj Auto top gainers

    • 09:53 AM IST

      Nifty Energy index declines 2.6 percent dragged by Adani Transmission, Adani Green, Reliance Industries

    • 09:40 AM IST

      BSE Auto index up nearly 2 percent led by Tata Motors, Bajaj Auto, Ashok Leyland

    • 09:39 AM IST

      Nifty Bank index sheds over 1 percent dragged by ICICI Bank, Axis Bank, HDFC Bank

    • 09:22 AM IST

      Dr Reddy's Laboratories shares gain 3% post 77 percent growth in consolidated net profit

    • 09:21 AM IST

      Cipla share price gains after company reports 10% jump in its Q3 net profit

    • 09:21 AM IST

      Tata Motors share price up nearly 5 percent on strong Q3 results

    • 09:19 AM IST

      Bajaj Auto share price up over 5% as company reports better numbers in Q3

    • 09:16 AM IST

      Adani Group says it's exploring legal action against Hindenburg

    • 09:06 AM IST

      Markets are likely to start on a firm note: Prashanth Tapse

    • 08:57 AM IST

      USFDA provides exception to Glenamrk Pharma baddi facility to supply Atovaquone Oral Suspension

    • 08:55 AM IST

      Dollar drops vs yen, near 9-month low to euro on central bank bets

    • 08:49 AM IST

      Tata, Jindal, Adani, Vedanta among companies in race to buy NMDC Steel

    • 08:43 AM IST

      CBI registers case against GTL Ltd directors, bankers in Rs 4,760 crore bank fraud

    • 08:36 AM IST

      Suzuki to launch six battery electric vehicles in India by FY30

    • 08:31 AM IST

      Asian shares at 9-month high after resilient US economic data

    • 08:23 AM IST

      Adani Enterprises FPO to open today, anchor book fully subscribed

    • 08:21 AM IST

      Oil prices edge up on strong US economic data, Chinese demand hope

    • 08:13 AM IST

      Bajaj Auto Q3 net profit zooms 23% to Rs 1,491 crore

    • 08:06 AM IST

      DLF posts almost 37% increase in Q3 consolidated net profit

    • 07:58 AM IST

      Dr Reddy’s reports 77% growth in Q3 consolidated profit

    • 07:50 AM IST

      Tata Motors back in black with Q3 net profit at Rs 2,958 crore; beats estimates

    • 07:42 AM IST

      Cipla Q3 profit rises 10% YoY to Rs 801 crore, revenue up 6%

    • 07:38 AM IST

      Asian markets trade firm; Straits Times, Kospi up 0.5 percent each

    • 07:36 AM IST

      SGX Nifty indicates a positive start for the Indian indices

    • 07:29 AM IST

      Wall Street closes green as GDP data eases recession worries

  • IndexPricesChangeChange%
    Sensex57,925.28-289.31 -0.50%
    Nifty 5017,076.90-75.00 -0.44%
    Nifty Bank39,616.90-382.15 -0.96%
    Nifty 50 17,076.90 -75.00 (-0.44%)
    Thu, Mar 23, 2023
    Biggest GainerPricesChangeChange%
    Hindalco398.806.05 +1.54%
    Biggest LoserPricesChangeChange%
    SBI512.75-8.80 -1.69%
    Best SectorPricesChangeChange%
    Nifty FMCG45267.40157.90 +0.35%
    Worst SectorPricesChangeChange%
    Nifty PSU Bank3643.60-64.70 -1.74%

  • January 27, 2023 / 04:34 PM IST

    Ajit Mishra, VP - Technical Research, Religare Broking

    Markets finally ended a month-long consolidation phase with a breakdown and lost over 1.5%. Participants were in a cautious mood from the beginning and a sharp sell-off in the banking, IT and energy majors further soured the sentiment as the day progressed.

    Consequently, Nifty slipped below the major support zone of long term moving average i.e. 200 EMA at 17550 intraday and finally settled at 17,604.35 levels. The broader indices too witnessed a severe fall and shed in the range of 1-1.5%.

    The carnage in the Adani group stocks cascaded across the board and the banking sector faced the maximum pressure. Participants were already facing challenges due to mixed global cues and caution ahead of the Union Budget and this breakdown has further added to worries.

    We are now eyeing the 17,250-17,400 zone as the next support while any rebound toward the 17,750 level would attract selling pressure. We thus reiterate our view to prefer hedged positions and aligning trades according to the trend.

  • January 27, 2023 / 04:13 PM IST

    Kunal Shah, Senior Technical Analyst at LKP Securities

    Bank Nifty had fallen below the critical support level of 41800, leading to a quick drop towards 40000. Besides, the index has sustained below the crucial moving average 50 EMA.

    The RSI is in bearish crossover and falling. Over the short term the index may remain under selling pressure. On the lower end, support is visible at 40000; whereas on the higher end, resistance is visible at 40800.

  • January 27, 2023 / 04:07 PM IST

    Vinod Nair, Head of Research at Geojit Financial Services

    The sharp slump in the Indian market was triggered by an unfavourable research report on Asia’s richest promoter group companies. This is also affecting the banking stocks even though the results of the sector are optimistic due to high group lending, indicating potential risk.

    PSU banks are the most impacted compared to private banks owing to high exposure. The FIIs' cautious stance ahead of the Union Budget and FOMC meetings also fuelled the collapse.

  • January 27, 2023 / 03:57 PM IST

    Gaurav Ratnaparkhi, Head of Technical Research, Sharekhan by BNP Paribas

    The Nifty started the week on a positive note however witnessed steep selling pressure in the second half of the week. As a result, it broke down from the consolidation range, which it was witnessing for the last one month.

    It broke the support zone of 17,800-17,760, which will now act as a resistance as per the principle of role reversal.

    On the downside, the Nifty has halted near the 61.8% retracement of the Sept – Dec 2022 rise & 200 DEMA, which are near 17,550. Today’s low of 17,493 will be a key support. If that is breached then the decline can continue till 17,300.

  • January 27, 2023 / 03:54 PM IST

    Amol Athawale, Deputy Vice President - Technical Research at Kotak Securities

    Markets went into a tailspin on broad-based selling pressure as recessionary fears in the west and nervousness ahead of the US FOMC meeting on interest rate decision pummeled stocks at will.

    Investors cashed out of banking, power, realty and oil & gas stocks ahead of the budget and pulled down key indices below the psychological levels.

    During the week, the Nifty traded below the 20-day SMA (Simple Moving Average) mark and also breached the important support level of 17,800 and also formed a long bearish candle on weekly charts.

    Technically, a minor pullback rally is possible if the index trades above 17,650. On the flip side, selling pressure is likely to accelerate only after the dismissal of 17,550 and below the same the index could slip till 17,400. Extended correction could drag the index till the 200-day SMA or 17,300.

  • January 27, 2023 / 03:32 PM IST

    Rupee Close:

    Indian rupee closed marginally higher at 81.52 per dollar against previous close of 81.59.

  • January 27, 2023 / 03:30 PM IST

    Market Close

    : benchmark indices ended lower on January 27 with Nifty around 17600.

    At Close, the Sensex was down 874.16 points or 1.45% at 59,330.90, and the Nifty was down 287.70 points or 1.61% at 17,604.30. About 870 shares have advanced, 2588 shares declined, and 97 shares are unchanged.

    Adani Enterprises, Adani Ports, SBI, ICICI Bank and IndusInd Bank were among the biggest losers on the Nifty, while gainers were Tata Motors, Bajaj Auto, Dr Reddy’s Laboratories, ITC and Divis Laboratories.

    PSU Bank, oil & gas, power and metal indices down 4-6 percent.

    The BSE midcap index shed 1.2 percent and smallcap index declined 1.9 percent.

  • January 27, 2023 / 03:25 PM IST

    CLSA View on Bajaj Auto

    Broking firm has maintained ‘Buy’ rating and raised the target price to Rs 4,619 per share.

    Lower raw material costs, better FX realisation & richer product mix led to expansion in margin.

    Increase earnings estimates to 14%/15% for FY24/25 on higher revenue & margin assumptions, reported CNBC-TV18.

    Bajaj Auto was quoting at Rs 3,941.25, up Rs 223.85, or 6.02 percent on the BSE.

  • January 27, 2023 / 03:20 PM IST

    TTK Prestige Large Trade | 11.71 lakh shares (0.84% equity) worth Rs 92.07 crore change hands at average of Rs 786.52 per share.

    TTK Prestige touched a 52-week low of Rs 694.75 and quoting at Rs 809.15, up Rs 26.35, or 3.37 percent.

  • January 27, 2023 / 03:14 PM IST

    Dilip Buildcon declared lowest bidder for projects worth Rs 1,373 crore

    Dilip Buildcon has declared as L-l bidder for the lenders floated by the National Highways Authority oflndia on Hybrid Arnuity basis in the state of Andhra Pradesh.

    Dilip Buildcon was quoting at Rs 214.70, down Rs 2.70, or 1.24 percent.

  • January 27, 2023 / 03:12 PM IST

    Morgan Stanley On Macrotech Developers

    -Equal-weight rating, target at Rs 1,145 per share
    -Pre-sales momentum, new project acquisition & deleveraging remain key objectives
    -Company is on track with FY23 guidance
    -Demand outlook for residential in Mumbai remains good


 -Equal-weight rating, target at Rs 1,145 per share 
-Pre-sales momentum, new project acquisition & deleveraging remain key objectives 
-Company is on track with FY23 guidance 
-Demand outlook for residential in Mumbai remains good