Indian Market Today 10th Jan: Nifty hits new high, Sensex gained 147 pts

 

It was a positive start for the Indian Markets today (10th Jan) but in the end, it erased most of its gains on weak European market cues. The market closed in green and Nifty touched all-time high today while Bank Nifty erased all gains and closed in flat.

 

Indian Stock Markets today- 10th Jan

 

The Nifty today gained 40.90 points and at 12256.80 while Sensex was up 147.37 points and at 41599.72. The Bank Nifty was trading volatile in the afternoon and it gained only 5 points and closed 32097.40.

The Nifty midcap 100 index gained 66.70 points or 0.39% and closed at 17386.35. Whereas the Nifty smallcap index 100 was up 50.65 points or 0.84% and closed at 6056.50.

 

Indian Market: Gainers & Losers today

The gainers in the Nifty50 stocks are Coal India, Tata Motors, Infosys, Maruti Suzuki, and GAIL. The losers in the Nifty50 stocks are Yes Bank, Zee Ent, ICICI Bank, IndusInd Bank, and Titan Company.

The stocks that gained in the Nifty midcap space are Sun TV, Sun Pharma and the losers are Edelweiss, Reliance Infra. The gainers in Nifty smallcap space are Chennai Petro, Rain Industries and the losers are Suzlon Energy, Reliance Communication.

The sectors that closed in green today are Real Estate, Paper, Metal & Minings, Electricals and Construction materials. The sectors that closed in red today are Telecom, Hospitality, Insurance, Retails and Ship Building.

The FIIs are buyers in the cash segment after four days. FIIs bought Rs 578.28 crores and DIIs sold Rs 251.74 crore in the cash segment today.

India’s Index of Industrial Production ( IIP ) data rose by 1.8 in November against the contraction of 3.8% in October. It has rebounded after the three consecutive months of contraction. Manufacturing output grew by 2.7% compared to the contraction of 2.1% in October.

    

Stocks in News

Sterlite Tech to acquire12.8% stake in Israel Based Company on issued and outstanding basis. The share price of Sterlite Tech gained 2.25% and closed at Rs 127.10 per share.

GTPL Hathway has posted strong Q3 numbers in the December end quarter. The company’s Q3FY20 net profit jumped 98% to Rs 39 crore as against Rs 19.7 crore in a year-ago period. The share price of GTPL Hathway has gained 1.66% and closed at Rs 82.60 per share.

The subsidiary company of Delta Corp has got a license to operate a casino in Nepal. The share price of Delta Corp has gained 2.76% and closed at Rs 202.75 per share.

KNR Construction has sold its entire stake in a toll road BOT asset namely KNR Walayar Tollways Pvt Ltd to Cube Highways and Infrastructure. The share price of KNR Construction gained 9.33% and closed at Rs 278.25 per share.

The IT major Infosys Ltd has reported Q3FY20 numbers today. It beats street estimates, the net profit rose by 23.5% on YoY to Rs 4457 crore and 10.9% on a QoQ basis. Its revenue went up by 7.9% at Rs 23092 crore.

Kedia Securities buys a 2% stake in the Neuland lab. The share Neuland Lab gained 6.03% and closed at Rs 457.50 per share.

Emami Paper Mills has declared very good Q3FY20 numbers. The Net profit of Q3 rose by 224% at Rs 18.5 crore as against Rs 5.7 crore in the same period last year. The share price of Emami Paper Mills gained 10% and closed at Rs 89.70 per share

 

Banking and Finance stocks in News

The Independent Director of Yes Bank Uttam Prakash Agarwal has resigned from Yes Bank’s Audit Committee ahead of his terms. The Yes Bank’s board has approved of raising Rs 10,000 crore via a mix of debt and equity. The board had decided not to go ahead with the investment proposal of Erwin Sing Braich a Canadian Investor.

The share price of Yes Bank declined 5.39% and closed at Rs 44.74 per share.

The Central Government after consultation with the RBI has increased the authorized capital of Indian Overseas Bank from Rs 5000 crore to Rs 25000 crore. The share price of IOB has fallen 0.89% and closed at Rs 11.20 per share 

 

Crude and Rupee Updates:

The Brent crude oil future is trading lower today. It is currently trading at $65.06 per barrel, almost 0.44% down from yesterday’s close. The Indian rupee is closed at Rs 70.94 against the US dollar, the rupee has gained 0.38% against the US dollar today.

 

Conclusions:

The Indian markets today on 10th Jan were trading higher in the morning and later it erased most of its gain in the afternoon. The worry ahead of the IIP data and correction in the European market has forced the investors to book profit at a higher level. 

The market may move sideways in a positive zone in the coming week. Next, we can see stock-specific action in the market due to the Q3FY20 numbers.

Traders can follow our Nifty and Bank Nifty technical views and Weekly Views tomorrow 

 

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Editors Desk