Stock Market Live Today: Nifty trading below 18000

 

Stock Market Live Today 5 Jan 2023: Indian stock markets opened higher on Thursday amid positive cues from Asian market peers. Nifty today opened at 18101.95 levels up by 59 points while Sensex made a positive opening of 190.05 points at 60847.50. Soon after opening the domestic market pared early gains and is trading at almost 0.50 percent cut at present.

The domestic markets are now trading flat with negative bias in early deals reacting to the FOMC minutes released overnight which suggests that the Fed will remain aggressive in its policy to control inflation.

The sentiments are downbeat due to continued foreign fund outflows. The Foreign institutional investors (FII) sold shares worth Rs 2,620.89 crore on January 4, as per provisional data available on the NSE. The front-line stocks like twin Bajaj are the biggest losers at this moment.

However, the downside remained capped amid a higher opening of the Indian rupee at 82.77 per dollar against the previous close of 82.82 per dollar, amid a weak dollar. Board-based buying at FMCG, Auto, and Oil & Gas counters also supported the markets from falling further.

 

Stock Market Live Today 

 

Market Live at 12.30 pm IST, the Indian stock market indices, Sensex and Nifty are trading lower by 0.59 percent and 0.45 percent respectively. The Bank Nifty is down by 0.79 percent at 12.30 pm IST. The broader markets are trading mixed at this moment, as the Nifty midcap is trading higher by 0.22 percent, and smallcap index is trading lower by 0.20 percent at this time.

Among the sectors, FMCG, Auto, and Metals are trading higher whereas Financial Services, Banks, and IT stocks are in the red. The top Nifty 50 stocks at this moment are Bajaj Auto, Britannia, and BPCL and the top losers are Bajaj Finance, Bajaj Finserve, and ICICI Bank

 

Stocks in News Today

 

Bajaj Finance’s AUM rose 27 percent from last year to Rs 2.3 lakh crore from Rs 1.8 lakh crore. During the quarter, the company’s AUM increased by Rs 12,500 crore, up only 5.7 percent quarter-on-quarter. The foreign brokerage house CLSA recommended selling Bajaj Finance shares with a target price of Rs 6000 per share. The share price of Bajaj Finance is trading at Rs 6086, more than 7% down.

RBL Bank gained more than 2%  and is trading at Rs 183. 75 after the bank’s total deposits increased by 11 percent to Rs 81746 crore as of 31 st December 2022 from Rs 73639 crore

TTK Prestige announced that the company has acquired a majority stake in Ultrafresh Modular Solutions. The company has increased its stake from 40.9% to 51% with a further investment of 9.99 crores. The share price of TTK Prestige is trading at Rs 794 per share on NSE 

The FMCG Company Godrej Consumer Trading is higher after the company said despite the demand softness in India, it expects a double-digit sales growth backed by low single-digit volume growth in Q3 FY23. The share price of Godrej Consumer is trading more than 2% higher at Rs 909 per share.

 

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