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January 13, 2022 / 04:21 PM IST

Closing Bell: Market ends marginally higher amid volatility; metals outshine, realty, bank drag

On the sectoral front, metal, pharma, power, oil & gas and capital goods indices rose 1-3 percent, while bank and realty indices fell over 0.5 percent each. BSE midcap and smallcap indices ended in the green.

  • Closing Bell: Market ends marginally higher amid volatility; metals outshine, realty, bank drag
    Stock Market Today
    Moneycontrol.com
    HIGHLIGHTS
    • 03:29 PM IST

      Credit Suisse keeps outperform rating on Infosys, raises target price to Rs 2,350

    • 03:28 PM IST

      Elara Capital reiterates accumulate rating on Maruti Suzuki, target Rs 9,288

    • 03:26 PM IST

      Supreme Engineering board approves sub-division of shares

    • 03:21 PM IST

      Citi keeps buy call on Wipro, cut target to Rs 820

    • 03:17 PM IST

      Buy Dr. Lal Pathlabs with target price of Rs 4050: Yash Gupta of Angel One

    • 03:12 PM IST

      Capri Global Capital sells its investment in subsidiary

    • 03:08 PM IST

      Nifty Bank index sheds 1 percent dragged by the HDFC Bank, Kotak Mahindra Bank, IndusIn Bank

    • 02:50 PM IST

      TVS Motor signs MoU with Swiggy

    • 02:38 PM IST

      Citi keeps sell call on TCS with a target at Rs 3,580

    • 02:13 PM IST

      Fitch rates IRFC's proposed USD Bond 'BBB-'

    • 02:06 PM IST

      CESC Q3 net profit at Rs 329 crore, EBITDA down 25.9%

    • 01:51 PM IST

      Vishal Fabrics will consider bonus issue on January 27

    • 01:47 PM IST

      Citi keeps sell call on TCS with a target at Rs 3,580

    • 01:44 PM IST

      Motilal Oswal maintains buy with on Tata Motors target price of Rs 610

    • 01:33 PM IST

      Ramkrishna Forgings bags order worth Rs 575 million

    • 01:10 PM IST

      Fabino Life Sciences becomes 359th Company to get listed on BSE SME platform

    • 01:01 PM IST

      Indian benchmark indices flat in the volatile session

    • 12:54 PM IST

      BSE Realty index falls 1 percent dragged by the Oberoi Realty, Indiabulls Real Estate, Godrej Properties

    • 12:27 PM IST

      Tata Motors share price slips on weak JLR retail sales

    • 11:23 AM IST

      Above 18100, expect Nifty to trade in the range of 18100-18400: Gaurav Garg

    • 11:15 AM IST

      BSE Heathcare inex rises 1 percent supported by the Nureca, Neuland Laboratories, Solara Active Pharma Sciences

    • 10:10 AM IST

      Indian rupee opens marginally higher at 73.88 per dollar

    • 10:05 AM IST

      Indices trade flat amid volatility, metal stocks gain

    • 09:38 AM IST

      POSCO & Adani sign MoU for integrated steel mill

    • 09:29 AM IST

      Nifty Metal index rises 1 percent led by the APL Apollo Tubes, Tata Steel, Coal India

    • 09:08 AM IST

      Benchmark Indices expected to open on a positive note: Mohit Nigam

    • 08:44 AM IST

      Prashanth Tapse optimistic on Infosys with target above Rs 2000: Prashanth Tapse

    • 08:39 AM IST

      Morgan Stanley keeps overweight rating on Infosys, raises target price to Rs 2,250

    • 08:29 AM IST

      IIP growth slows down to nine-month low of 1.4% in November 2021

    • 08:25 AM IST

      Wipro Q3 net profit comes in at Rs 2,970 crore

    • 08:17 AM IST

      Infosys Q3 consolidated PAT rises 7.2% QoQ to Rs 5,809 crore

    • 08:13 AM IST

      Asian markets trade mixed

    • 08:05 AM IST

      CPI inflation to 5.59% in December 2021

    • 08:01 AM IST

      TCS Q3 profit rises to Rs 9,769 crore, revenue grows to Rs 48,885 crore

    • 07:58 AM IST

      Gold holds near one-week high after U.S. inflation data

    • 07:47 AM IST

      US Consumer prices increase 0.5% in Dec, CPI surges 7%

    • 07:45 AM IST

      Dollar breaks key support, rates outlook seen unchanged by inflation data

    • 07:38 AM IST

      Wall Street closes higher as inflation data supports Fed bets

    • 07:33 AM IST

      SGX Nifty indicates a positive start for the Indian indices:

  • IndexPricesChangeChange%
    Sensex60,841.88909.64 +1.52%
    Nifty 5017,854.05243.65 +1.38%
    Nifty Bank41,499.70830.40 +2.04%
    Nifty 50 17,854.05 243.65 (1.38%)
    Fri, Feb 03, 2023
    Biggest GainerPricesChangeChange%
    Adani Ports498.8536.40 +7.87%
    Biggest LoserPricesChangeChange%
    Divis Labs2,884.35-382.65 -11.71%
    Best SectorPricesChangeChange%
    Nifty PSU Bank3888.60115.95 +3.07%
    Worst SectorPricesChangeChange%
    Nifty Energy22638.40-235.60 -1.03%


  • January 13, 2022 / 04:40 PM IST

    Vishal Wagh, Research Head, Bonanza Portfolio:
     
    Nifty had a volatile session amid weak global cues and weekly expiry. It closes above 18,250 as bulls maintain the momentum on Dalal Street. 
     
    The index has once again given a flat to a marginal positive start in today's session. Volatility was visible owing to weekly expiry with wild swings on both sides. 

    Going ahead 17,940 -18,000 will be good short-term support for upcoming trading sessions and on the upside 18,340 will act as new immediate resistance. 

    A hammer candlestick pattern is visible on daily charts indicating that the steam is cooling off and we can see sideways or profit booking sessions in the coming days. The structure of the index is in favor of bulls. Market breadth has remained at 2:1 with 36 stocks on the advancing side & 14 stocks on the declining side.

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  • January 13, 2022 / 04:37 PM IST

    Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities:

    Markets extended gains for the fifth straight session, but it looks like bulls are showing signs of fatigue as trading largely remained rangebound. 

    The Nifty has formed a Doji candlestick formation indicating indecisiveness between bulls and bears. However, the medium-term texture is still positive. 

    Direction wise, below 18200 we can expect profit booking and post breakdown the chances of hitting 18140-18100 levels are bright. On the other hand, as long as the index is trading above 18200, the uptrend will continue till 18300-18350.

  • January 13, 2022 / 04:26 PM IST

    Prashant Tapse, Vice President (Research) at Mehta Equities:

    Nifty’s ascent towards 18,605 is on the radar. Interestingly, the gains came despite US CPI surging to the highest level since June 1982 and core CPI registering the biggest advance since 1991. The stronger readings reinforce the need for quicker interest rate hikes by the Federal Reserve. 

    Also, in a double whammy for the economy, India’s retail inflation rate shot up to a five month high in December and growth in factory output decelerated to a nine-month low in November. 

    There is likely to be lots of opportunities on the buy side as long as Nifty stays above 17889 mark. The immediate goalpost on Nifty is seen at its all-time-high at 18605 mark.

  • January 13, 2022 / 04:23 PM IST

    Ajit Mishra, VP - Research, Religare Broking:

    Markets consolidated in a narrow range and settled marginally higher, taking a breather after the recent surge. Initially, the upbeat start of the IT majors triggered a firm opening however profit taking in the banking space trimmed the gains in no time. 

    The benchmark continued to trade lacklustre thereafter however movement in the metal and pharma space kept the traders’ busy. 

    Consequently, the Nifty index ended at 18,257 levels; up by 0.25%. Amid all, the broader indices outperformed wherein both midcap and smallcap gained nearly 0.6% each.
     
    The not so decisive move in the index combined with a dip in the banking space is pointing towards some consolidation. And, we feel it would be healthy, considering the surge from the December lows. However, there’ll be no shortage of trading opportunities, thanks to rotational buying across sectors. Participants should focus on metal and pharma along with select counters from chemical, sugar and power space for long positions.  
     

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  • January 13, 2022 / 04:20 PM IST

    S Ranganathan, Head of Research at LKP securities:

    Metals stole the show in today's trade with the metal index rising over 3.5% well supported by the pharma & PSE index. 

    Sugar stocks were in demand on the back of Ethanol push and robust outlook in CY2022. Profit booking was seen in select cement & IT stocks in today's trade.

  • January 13, 2022 / 04:18 PM IST

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

    The Nifty opened gap up on January 13 post which it traded in a sideways manner & ultimately formed a Dragonfly Doji on the daily chart. This gives a warning that the rally can run out of the steam in the short term. The hourly momentum indicator continues to show negative divergence near the overbought zone that also shows that the index is losing momentum on the upside. 

    The hourly chart shows that the index is trading near lower end of a rising channel, which is near 18160. Below that, a recent gap area of 18081 – 18128 will be the key support to watch out for. 

    The short term trajectory can remain positive as long as the index trades above these supports & the Nifty can test its weekly upper Bollinger Band near 18400. On the other hand, breach of these supports will be an indication of exhaustion in the trend from short term perspective.

  • January 13, 2022 / 04:11 PM IST

    Sahaj Agrawal, Head of Research- Derivatives at Kotak Securities 
     
    Nifty remains in an uptrend and is expected to test 19000-19500 levels going ahead. Any correction in the short term can be used to initiate fresh long positions. 

    We remain positive on Metals and FMCG at current levels; Realty, IT, and Auto trade with positive bias but can be bought only on deeper corrections.

  • January 13, 2022 / 04:06 PM IST

    Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments:

    The Nifty has given a positive close above 18250. Ideally, the next target is 18500 with strong support at 17800. Any dip can be utilized to accumulate long positions on the index.

  • January 13, 2022 / 04:05 PM IST

    Vinod Nair, Head of Research at Geojit Financial Services: 

    The domestic market traded between gains and losses weighing the initial positive earnings results and weak global cues. Globally, western markets traded lower due to 4-decade high inflation as the US consumer price index rose by 7% YoY in December. 

    Owing to an unfavourable base effect, India’s retail inflation also jumped to 5.59% in December higher than RBI’s forecast of 5.1% for Q3FY22. India’s Industrial Production registered a subdued growth of 1.4% as supply shortage constrained factory production.

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  • January 13, 2022 / 03:34 PM IST

    Market Close: Benchmark indices ended with marginal gains in the volatile session on January 13 with buying seen in the metal and pharma names.

    At close, the Sensex was up 85.26 points or 0.14% at 61,235.30, and the Nifty was up 45.50 points or 0.25% at 18,257.80. About 1630 shares have advanced, 1609 shares declined, and 62 shares are unchanged.

    Tata Steel, JSW Steel, Sun Pharma, Coal India and UPL were the top Nifty gainers. Losers were Wipro, Asian Paints, HDFC Bank, Kotak Mahindra Bank and IndusInd Bank.

    On the sectoral front, metal, pharma, power, oil & gas and capital goods indices rose 1-3 percent, while bank and realty indices fell over 0.5 percent each. BSE midcap and smallcap indices ended in the green.

  • January 13, 2022 / 03:29 PM IST

    Credit Suisse view on Infosys

    The research house has kept an outperform call on the stock and raised the target price to Rs 2,350 as it was a solid quarter with strong beat on revenue and net profit.

    It has increased FY22/23/24 EPS estimates by 2 percent/4 percent/4.5 percent respectively.

    Infosys was quoting at Rs 1,893, up Rs 15.40, or 0.82 percent on the BSE.