Stock market news for today: Nifty is below 12100 and Sensex down 188 pts

 

Stock Market News For Today: Indian market opened in the green today whereas the Asian Market was trading lower in the morning. The Asian market was trading lower on fear of the deadly virus outbreak in China.

In India, the market sentiment was negative after the recent statement made by the economist  Abhijit Banerjee that the country could be passing through a phase of recession, and there is ‘ nothing in the data that suggests otherwise. He has also added that the government should be on refinancing the banking sectors, which is in ‘doldrums’.

 

Stock Market News for today

At close, the Nifty was down 63.20 points and at 12055.80 while Sensex declined 188.26 points and at 40966.86. The Bank Nifty index of NSE was down only 76 points and closed 30761.40.

The Nifty midcap and smallcap 100 index was also down today. The midcap index was down by 58.95 points or 0.32% and closed at 18232.40. Whereas the Nifty smallcap index was declined by only 8.75 points or 0.14% and closed at 6337.90.

The top five gainers in the Nifty50 index are BPCL, HDFC, Bajaj Finance, Sun Pharma, and HDFC Bank. The losers for the day are Bharti Airtel, Vedanta, Tata Steel, Tata Motors, and JSW steel.

The gainers in the midcap space are Dish TV, Reliance Infra and the losers are Torrent Pharma, Reliance Power. In the Nifty smallcap space the gainers are CG Power, Jet Airways and the losers are Lakshmi Machine, ITI.

Among sectors, there are very few sectors on the gaining side today these are IT & Software, Plastic products, Financial Services, Consumer durables, and Alcohol. In the losing side Metals, Automobiles, Capital Goods, Media, Oil& Gas, Power, and Telecom are the major ones.

FIIs were the net sellers and DIIs were the net buyers in the cash segment today. FIIs sold Rs 1357.56 crores and DIIs bought Rs 711.7 crore in the cash segment today.

 

Market today: Stocks in news for today

Cipla has got the Establishment Inspection Report (EIR) indicating the closer of inspection the Invagen (US) unit by USFDA. The share price of Cipla has gained 0.05% and closed at Rs 464.70 per share.

Alembic Pharma gets USFDA’s approval for a new drug, the share price of Alembic Pharma gained 2.90% and closed at Rs 632.40 per share.

Sachin Bansal an independent director of Ujjivan Small Finance Bank has resigned form the post. The share price of Ujjivan Finance has gained 0.82% and closed at Rs 55.05 per share.

ED has arrested the promoter of DHFL Kapil Wadhwan, the share price of DHFL has locked a 5% lower circuit today. The DHFL share price has touched Rs 15.05 per share.

The Coal India has registered a 1 double-digit growth in January coal productions. It was up 10.7% at 54.17 million till the 27th of January. The share price of Coal India was down 2.17% and closed at Rs 189.15  per share.

Sundaram Fastener’s new plant located at SEZ Unit Andhra Pradesh has commenced its production from 27th January. The share price of Sundaram Fastener gained 1.04% and closed at Rs 515.55 per share.

The investor Rakesh Jhunjhunwala was being probed by SEBI the market regulator for insider trading in the education firm Aptech. The share price of Aptech fell 6.63% and closed at Rs 161.95 per share.

Stocks are in news due to Q3 earnings

Interglobe Aviation has reported that its net profit has jumped 167.8% in Q3FY20. Its consolidated net profit for December end quarter was Rs 496 crore as against Rs 185.2 crore in the last year the same period. The share price of Interglobe Aviation was down 2.81%  and closed at Rs 1453.75 per share.

HDFC has reported 296% YoY growth in standalone profit at Rs 8372.5 crore in the December end quarter. The share price of HDFC gained 1.49% and closed at Rs 2431.60 per share 

The consolidated net profit of United Spirits reported yesterday was up by 15.2% at Rs 232 crore as compared to Rs 201.4 crore in a year ago for the same period. The research house Credit Suisse has also upgraded the stock after the Q3 results. The share price of United Spirit has gained 13.93% and closed at Rs 655.90 per share.

Maruti Suzuki has reported December to end quarter earnings, its net profit grew by 5.1% at Rs 20707 crores against Rs 19668 crores on a YoY basis. EBITDA grew by 8.9% at Rs 2102 crore against 1931 crore on YoY basis. The share price of Maruti Suzuki has declined 2.12% and closed at Rs 6997.05 per share.

 

Crude and Rupee Updates:

The Brent crude oil future is trading lower today. It is currently trading at $58. 23 per barrel and almost 0.56% down from yesterday’s close. Indian rupee got appreciated today, the rupee closed at Rs71.33 against the US dollar today, it got appreciated 0.15% from yesterday’s close.

 

Conclusions:

The Indian market was down for the second consecutive day after the news of spreading Coronavirus in China and the US. Nifty has broken its crucial support at 12100 levels, technically it may slide further in the coming days. 

Coming two-three days we may see some volatility in the market due to monthly derivative expiry and Union Budget on 1st Feb. We have compiled all major stock market news for today. Traders can follow our daily Nifty and Bank Views and weekly market updates for trading

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