The benchmark indices opened higher on Tuesday but soon slipped into the red, led by selling in shares of Maruti Suzuki, Reliance Industries and UltraTech Cement, among others. Surge in oil prices and FIIs again turning sellers are acting as headwinds for the market. Analysts further believe the market is moving from growth to value and quality value stocks will be safe bets during the volatile times.
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The Bank of Japan upgraded its inflation forecasts on Tuesday and flagged heightening chances the recent commodity-driven price hikes will broaden, the latest sign of its conviction Japan is emerging sustainably out of deflation. The central bank also revised up next fiscal year’s growth forecast and offered a more upbeat view on the economy than three months ago, taking in stride the recent spike in Omicron coronavirus variant cases at least for the time being.
Inox Wind plans to offer up to Rs 400 crore shares in Inox Green IPO
Price as on 18 Jan, 2022 11:11 AM, Click on company names for their live prices.
Top gainers from the hospitality & tourism sector
Price as on 18 Jan, 2022 10:58 AM, Click on company names for their live prices.
Sensex top drags on BSE
Nazara Technologies to acquire 55% stake in programmatic advertising and monetisation company Datawrkz
Price as on 18 Jan, 2022 10:31 AM, Click on company names for their live prices.
IEX: Co have executed a share purchase agreement by and between co, IOC and IGX subsidiary of the co, for sale of 4.93% stake in IGX to IOCL
Price as on 18 Jan, 2022 10:17 AM, Click on company names for their live prices.
Sensex reverses opening gains, down 50 points
I would look at around 19,000 on the upside for Nifty and may be 16,500 on the downside. It is a very broad band but the way the markets are, the kind of liquidity and volatility that there are, the bands will have to be broader. In this range, we will see a massive churn in sectors. A lot of sectors will be going up and down the pecking order and that is where money will be made.
– Atul Suri, Founder & CEO, Marathon Trends
A recent trend in markets globally is the shift from growth to value. One of the several consequences of the exuberance of the new breed of young tech-savvy retail investors is the fad around new age digital stocks. This fad has pushed up the valuations of these stocks into irrational territory. Now the froth in these segments is getting removed. Many tech stocks in the US are sharply down. 2022 is likely to witness high volatility in stock markets unlike 2021. Quality value stocks will be safe bets during the volatile times. FIIs again turning sellers is likely to be a headwind for the market in the short run.
– Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
Realty firm Prestige Estates on Monday reported over two-fold jump in sales bookings at record Rs 4,267.6 crore for the quarter ended December. The company’s sales bookings stood at Rs 2,026 crore in the year-ago period.
Price as on 18 Jan, 2022 09:30 AM, Click on company names for their live prices.
The IT major announced acquisition of 100 per cent stake in Europe-based Com Tec Co IT (CTC) and 25 per cent stake in two insurtech platforms for a total of EUR 330 million (about Rs 2,800 crore).
Price as on 18 Jan, 2022 09:24 AM, Click on company names for their live prices.
Most active stocks on NSE in early trade
Price as on 18 Jan, 2022 09:22 AM, Click on company names for their live prices.
Sector Watch: Metal, auto sole losers
OPENING BELL: Sensex advances 100 points, Nifty nears 18,350; Infibeam soars 8%, Prestige Estates 6%
Pre-open session: Sensex climbs 350 points, Nifty nears 18,400
BOJ raises inflation forecasts, maintains ultra-easy policy
The Bank of Japan upgraded its inflation forecasts on Tuesday and said risks to the price outlook were evenly balanced, in a nod to signs the recent commodity-driven rise in inflation was broadening. But with inflation set to remain below its 2% target in the coming years, the BOJ stressed its resolve to maintain its ultra-loose monetary policy even as its global counterparts move toward exiting from crisis-mode policies.
Q3 results today
SGX Nifty signals a flat start
Nifty futures on the Singapore Exchange traded 2 points, or 0.01 per cent, lower at 18,348, signaling that Dalal Street was headed for a flat start on Tuesday.
Tech View: Nifty50 hurdle at 18,300
The Nifty50 on Monday formed a small real body on the daily chart, similar to the one seen last week, reflecting the narrow range for the market of late. The broader market breadth, however, stayed in favour of the bulls. Analysts said revisiting the recent peak is possible if the index holds on to the 18,200-225 level on a closing basis.
Hong Kong stocks begin with gains
Hong Kong shares opened slightly higher Tuesday as economic recovery optimism returned to the fore, though traders remain on edge over the prospect of the end to central banks’ vast monetary support. The Hang Seng Index added 0.23 percent, or 56.72 points, to 24,274.75. The Shanghai Composite Index was flat, inching up 0.22 points to 3,451.89.
Tokyo stocks open higher with eyes on Bank of Japan
Tokyo stocks opened higher on Tuesday as investors awaited a key Bank of Japan monetary policy decision and its governor’s press conference for his views on the Japanese economy. The benchmark Nikkei 225 index was up 0.48 percent or 137.20 points at 28,470.72 in early trade, while the broader Topix index advanced 0.43 percent or 8.58 points to 1,995.29.
US markets to resume trade today
The US stock market will resume trade on Tuesday after a holiday on account of Martin Luther King Day. All eyes were on the US bond yields after the two-year yields rose above 1 per cent for the first time since February 2020 at the open in Asia, as traders braced for the US Federal Reserve to embark on rate hikes as soon as March.
Rupee falls 10 paise to 74.25 on high dollar demand
The rupee declined by 10 paise to close at 74.25 against the US currency on Monday, declining for the second straight day due to high dollar demand and forex outflows. Dollar buying by banks on behalf of importers and weak economic data weighed on the local unit, analysts said.
Sensex, Nifty on Monday
Benchmark indices Sensex and Nifty edged higher on Monday following gains in IT, energy and auto stocks amid a firm trend in European markets. In a largely range-bound session, the 30-share BSE Sensex ended 85.88 points or 0.14 per cent higher at 61,308.91. The broader NSE Nifty rose by 52.35 points or 0.29 per cent to 18,308.10 points as 34 of its components advanced.
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Read More: Sensex Today: Stock Market Live Updates: Sensex, Nifty reverse gains; Maruti, UltratTech