The Sensex closed above the remarkable 73,000 mark, while the Nifty 50 soared past 22,000, both achieving record highs for the first time. The market rally was led by stalwarts like Reliance Industries Limited (RIL), and IT giants Infosys and TCS, contributing significantly to the indices' outstanding performance.
The Sensex surged by an impressive 759 points, concluding the trading session at an all-time high of 73,328, while the Nifty gained 203 points to close at an unprecedented 22,097. This bullish trend was further echoed in the Nifty Bank, which added 520 points to reach 48,229, and the Midcap Index, which rose by 325 points, closing in on the 48,000 mark.
"The rally in the market, primarily driven by momentum, is now getting support from fundamentals. The sharp bounce in large cap IT stocks on the back of slightly positive management commentary indicates that an underperforming segment can surprise on the upside on news of a turnaround in the sector, said Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.
Stocks like Wipro, Tech Mahindra, HCL Tech, Infosys, and TCS were top gainers. Meanwhile, stocks like Bajaj Finance, HUL, Nestle, and Asian Paints were top laggards.
Nifty IT index was up by 4% followed by Nifty PSU Bank that gained 2%. The two indices were star performers of opening bell.
India's volatility index jumped 4%.
Markets performance also comes after CPI inflation data that climbed to a four-month high of 5.69% compared to 5.55% in November. Also, Sensex and Nifty have shrugged off mixed global trends.
Meanwhile, 15 stocks are included under NSE's F&O ban list for January 15. The stock exchange added Chambal Fertilisers & Chemicals, and Metropolis Healthcare to the F&O ban list, while stocks like Bandhan Bank, BHEL, Delta Corp, Escorts Kubota, Hindustan Copper, India Cements, Indus Towers, National Aluminium Company, Piramal Enterprises, Polycab India, PVR INOX, SAIL and Zee Entertainment Enterprises were retained.
LIVE Feed
Jan 15, 2024, 3:56 pm IST
Market Ends At Record High, Sensex Surges Past 73,000
The Sensex closed above the remarkable 73,000 mark, while the Nifty 50 soared past 22,000, both achieving record highs for the first time. The market rally was led by stalwarts like Reliance Industries Limited (RIL), and IT giants Infosys and TCS, contributing significantly to the indices' outstanding performance.
Jan 15, 2024, 3:33 pm IST
BHEL Stock Surges to 52-Week Peak Following Rs 15,000 Crore Order from NLC India
Shares of Bharat Heavy Electricals Ltd (BHEL) experienced a notable uptick, surpassing 4%, to reach a 52-week high on Monday. This surge was triggered by the announcement from the public sector undertaking (PSU) confirming the acquisition of a substantial contract valued at Rs 15,000 crore. Opening at an elevated value, the stock continued its rally, witnessing a 4.68% increase to achieve a yearly high of Rs 205.60 per share on the BSE. The heightened trading activity saw more than 16 lakh shares of the company changing hands on the exchange.
Jan 15, 2024, 3:31 pm IST
Man Industries Achieves Record Peak Following A Rs 400 Crore Order Victory
Man Industries India Ltd, a leading provider of pipes and infrastructure solutions, experienced a remarkable 12% surge, reaching its highest point in 52 weeks on Monday, January 15. The surge followed the company's announcement of securing a significant order valued at Rs 400 crore. In a stock exchange filing, the company revealed that the order, received from either domestic or international entities, involves the supply of pipes. While specific details were not disclosed, the completion of the order is anticipated within the next six months. The company stated that this new order brings its total order book to approximately Rs 1,300 crore.
Jan 15, 2024, 2:46 pm IST
Medi Assist Healthcare IPO Subscribed 28% On Day 1
On the inaugural day of bidding, the Medi Assist Healthcare IPO has garnered a subscription rate of 28%, with bids received for 54.58 lakh shares out of the total issue size of 1.96 crore shares. Notably, the retail portion has witnessed a 50% booking, while high net worth individuals (HNIs) have acquired 13% of the allotted quota. The IPO, solely an offer-for-sale of 2.8 crore shares, comes with a price band set at Rs 397-418 per share and is scheduled to conclude on January 17. The total issue size amounts to Rs 1,171.58 crore.
Jan 15, 2024, 2:18 pm IST
Just Dial Shares Soar Following Healthy Q3 Earnings
Shares of Just Dial experienced a 9% surge in Monday's trading session following the release of its Q3 results. Analysts, however, express concerns about subscription trends despite the company's impressive margin recovery, which has approached pre-Covid levels for the seventh consecutive quarter. Just Dial shares reached a record high of Rs 945.80, marking an 8.5% increase in early trades compared to the previous day's close of Rs 871.65 on the BSE. Despite today's rally, the stock has shown a remarkable 40% increase over the past year and an 8% gain year-to-date.
Jan 15, 2024, 1:51 pm IST
eMudhra Launches QIP Issue With Floor Price At Rs 443.56/Share
eMudhra obtained nod from the Fund Raising Committee for the opening of the qualified institutions placement (QIP) issue on January 12. The floor price has been fixed at Rs 443.56 per share.
According to the BSE filing of the company dated Jan 12, “We wish to inform you that pursuant to the approval by the Board of Directors of the Company at its meeting held on August 24, 2023 and the special resolution passed by the Shareholders of the Company held on September 22, 2023, the Fund Raising Committee, at its meeting held today i.e. January 12, 2024, inter-alia, considered and approved the following: a) Approved and adopted the preliminary placement document dated January 12, 2024, together with the Application Form in connection with the Issue; b) Approved the floor price for the Issue, being Rs. 443.56 per Equity Share (“floor price”), based on the pricing formula as prescribed under Regulation 176 of the SEBI ICDR Regulations.”
According to a CNBC-TV18 report, the QIP issue size may be at around Rs 200 crore.
Last trading price of eMudhra Ltd on BSE is Rs 481.90 apiece with intraday gain of 3.18 apiece. eMudhra Ltd shares soared 11% in last 1-month.
Jan 15, 2024, 1:30 pm IST
Lexdale International Offloads Nykaa’s Share Worth Rs 495 Cr
Lexdale International, the asset management firm, has sold 2,62,37,880 equity shares in the FSN E-Commerce Ventures via open market transactions. These shares were sold at an average price of Rs 188.83 per share, valued at Rs 495.4 crore.
As per the bulk deal data available with the BSE, Lexdale International sold over 2.62 crore shares, amounting to a 0.9% stake in FSN E-Commerce Ventures.
Jan 15, 2024, 12:32 pm IST
Sinclairs Hotels To Offer 1 Bonus Share On Jan 29, Hits 52-Week High For 2nd Consecutive Day
Small cap company operating in Hotels & Resorts industry Sinclairs Hotels Ltd shares today hit fresh 52-week high for second consecutive session. Current market price of Sinclairs Hotels share on BSE is Rs 253.75 with intraday gain of 4.53%. Sinclairs Hotels shares soared 137% in last 1-year and gained 121% in last 6-months. Sinclairs Hotels fixed January 29, 2024 as record date. The company on December 23, 2023 approved bonus issue in the proportion of 1:1 implying shareholders will be eligible to receive 1 bonus share on January 29, 2024.
Jan 15, 2024, 12:30 pm IST
Serum Institute Sells 0.61% Stake In Ravinder Heights
Leading biotechnology company Serum Institute of India sold 3.75 lakh shares or 0.61% of paid-up equity in Ravinder Heights at an average price of Rs 50.04 per share. Serum Institute held 7.34% shareholding in the company. Last trading price of Ravinder Heights share on BSE is Rs 52.60 per share with intraday gain of 4.99%. Ravinder Heights shares hit 5% upper circuit in trade on BSE. Ravinder Heights stock soared 113% in last 6-months.
Jan 15, 2024, 11:51 am IST
Man Industries (India) Receives New Orders Worth Approx. Rs. 400 Crores; Stock Rises
Man Industries shares traded at a new 52-week high value of 378.50 on Monday after the company said that it has received new orders of approximately Rs.400 Crores. The total unexecuted order book as of today stands at approximately Rs.1300 Crores. The stock was up 6.13% at Rs 359.45 per share at 11:49 am IST today.
Jan 15, 2024, 11:46 am IST
Shares Of HCL Technologies Surge To Record High On Strong Q3 Performance
Shares of IT behemoth HCL Technologies traded at a new 52-week high value of 1617.65 in the early morning trade on Monday (January 15, 2024). HCL Technologies shares grabbed attention as the stock will trade ex-dividend on January 20. The share price of HCL Technologies Ltd was spotted trading 2.46% higher at Rs 1581 per share at 11:06 am IST.
Recently, in its Q3FY24 results, HCL Tech declared rewards for its investors in the form of dividend payments. In its Q3 FY24 results announced on Jan 12, the tech major announced topline growth of 6.54% & the revenue increased by 6.7% QoQ at Rs 28,446 crore.
Jan 15, 2024, 10:26 am IST
Adani Enterprises, Adani Power, Adani Green Energy: Adani Shares In Focus Today
Shares of Adani group firms traded mixed on Monday (January 15), amidst positive trading on Dalal Street. Adani Enterprises shares were down 0.76% at Rs 3080.70 per share at 10:22 am IST today, Adani Power shares were up 0.45% at 543.40 per share at 10:22 am IST, shares of Adani Green Energy were down 0.48% at Rs 1702.85 per share at 10:23 am IST today.
Jan 15, 2024, 9:29 am IST
Crude Oil Support Level Amid Red Sea Conflict
Rahul Kalantri, VP Commodities, Mehta Equities said: Crude oil experienced significant volatility, with gains extending after the U.S. and U.K. conducted air-strikes in Yemen. The Israel-Hamas conflict in the Red Sea further contributed to the rise in crude oil prices, as major shipping operators diverted from the region, causing disruptions in the key Europe-to-Asia route, where approximately 20 million barrels per day are shipped. Ongoing conflicts in the Red Sea may continue to support prices. Also, crude oil prices saw an increase following the U.S. Producer Price Index (PPI) decline in December, which constrained the gains of the dollar index. Expectations for today's session suggest continued volatility in crude oil prices. Support for crude oil stands at .10–71.40, with resistance at .45-74.10. In terms of INR, crude oil has support at Rs 5,940-5,870, and resistance at Rs 6,110-6,190.
Jan 15, 2024, 9:27 am IST
Rupee Outlook
Rahul Kalantri, VP Commodities, Mehta Equities said: USD-INR's 29th January futures contract continued its decline, breaking below the 83.00 level. The weekly technical chart indicates that the pair is trading beneath its moving average trend-line support at 83.18, with the MACD displaying negative divergence. The technical setup reveals an RSI below the 50 level, and the pair closed the week below the critical 83.00 mark. According to the weekly technical chart, the pair finds support at 82.70-82.54, while resistance is positioned at 83.18-83.40. With the breach of the 83.18 support level, the chart suggests weakness, indicating a potential trading range of 82.54-83.40 for the upcoming week.
Jan 15, 2024, 9:14 am IST
Trade Guide Today
Prashanth Tapse, Senior VP (Research), Mehta Equities said: The GIFT Nifty reflects a positive start for the stock market, with Nifty and Sensex reaching historic highs fueled by robust gains in IT stocks. Despite the bullish momentum, concerns arise from India's retail inflation hitting a four-month high of 5.69% and a significant drop in the industrial growth rate to an 8-month low of 2.4%. Technically, Nifty's bias remains positive, targeting 22,100, while Bank Nifty's intraday support is at 47,401. Recommended trades include buying Nifty at CMP with a stop at 21,501 and targets at 22,000/22,100, and Bank Nifty at CMP with a stop at 46,851 and targets at 48,100/48,636. The chart of the day is bullish on specific stocks, and CEINSYS TECH is highlighted as a top buy with a rationale for a 12-15 months holding period. Noteworthy corporate earnings include Jio Financial Services, Angel One, PCBL, Choice International, Kesoram Industries, Fedbank Financial Services, and Nelco. Finally, a reminder that Wall Street is closed today for Martin Luther King Jr. Day.
Jan 15, 2024, 9:02 am IST
USD-INR outlook
The downside bias that we had persisted with all through last week is likely to evolve into a range breakout aiming 82.78-82.45-81.9 regions. Alternatively, inability to break below 82.78 or an outright pull back above 83.05 will signal reversal though, stated Anand James, Chief Market Strategist, Geojit Financial Services.
Jan 15, 2024, 9:02 am IST
Nifty Derivative Outlook
Anand James, Chief Market Strategist, Geojit Financial Services expects Nifty weekly contract has highest open interest at 22500 for Calls and 21700 for Puts while monthly contracts have highest open interest at 22000 for Calls and 21000 for Puts. Highest new OI addition was seen at 22600 for Calls and 21700 for Puts in weekly and at 22100 for Calls and 21800 for Puts in monthly contracts. FIIs increased their future index long position holdings by 0.03%, increased future index shorts by 0.05% and in index options by 56.63% in Call longs, 62.24% in Call short, 37.61% in Put longs and 64.70% in Put shorts.
Jan 15, 2024, 9:01 am IST
Nifty Outlook
Anand James, Chief Market Strategist, Geojit Financial Services said we will begin the week with expectations of 22240 or 22400 as the likely objectives. An interim rest point on the way up is 22013. Collapse theories are not strong now yet. Meanwhile, downside markers may be placed in the vicinity of 21835/790 for now.
Jan 15, 2024, 8:58 am IST
Morning Market Outlook By Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services
The rally in the market, primarily driven by momentum, is now getting support from fundamentals. The sharp bounce in large cap IT stocks on the back of slightly positive management commentary indicates that an underperforming segment can surprise on the upside on news of a turnaround in the sector. The IT index which shot up by 5% on Friday will remain firm since HCL Tech and Wipro have more room on the upside.
Nifty has broken out on the upside from the consolidation range and shows signs of further up move. An important driver of the rally is RIL which is moving up on large delivery based buying on news of commissioning of the Dhirubhai Ambani Green Energy project in H2 of 2024. RIL, large cap IT and banking majors can provide fodder for the bulls in the near-term.
Jan 15, 2024, 8:57 am IST
Market Outlook By Mr. Aditya Gaggar, Director of Progressive Share
Tech stocks driven rally helped the Index to end the week at the record level of 21,894.55. On the daily chart, it has given a breakout from the bullish flag and pole formation which indicates an extension of the current underlying uptrend. As per the pattern, the target is 22,330. In BankNifty, a convincing close above 48,250 will open doors for 49,000 (IDFC First Bank- On the verge of a triangle breakout, SBIN- completed pullback). As indicated earlier, a rally in the Energy sector is likely to be driven by heavyweights ONGC and Reliance. Along with the sector, all the IT stocks have given a breakout from the bullish flag and pole formation which suggests a continuation of the underlying uptrend. From the PSU Banking space, we are bullish on Bank of India and Union Bank of India. Looking at the chart, it's better to cash in some profits from the Realty stocks as they are in an extremely overbought territory.
Jan 15, 2024, 8:34 am IST
Stocks To Buy Today
Shiju Koothupalakkal - Technical Research Analyst, Prabhudas Lilladher has recommended to buy three stocks today. They are -- BUY BANK OF BARODA cmp 229.90 Stop Loss 226 Target 240; BUY INOX GREEN cmp 132.15 Stop Loss 129 Target 141; BUY IREDA cmp 110.75 Stop Loss 108 Target 117
Jan 15, 2024, 8:33 am IST
Nifty, Bank Nifty Support Levels Today
Shiju Koothupalakkal - Technical Research Analyst, Prabhudas Lilladher expects Nifty to find support at 21,750 and resistance to be at 22,000. While Bank Nifty could find support at 47,400 and resistance at 48,000 on Monday.
Jan 15, 2024, 8:31 am IST
Market Previous Performance
Sensex and Nifty witnessed huge rally in the previous session (January 12). The 30-scrip index gained by 847.27 points or 1.18% to end at 72,568.45. While the 50-scrip index surged by 247.35 points or 1.14% to end at 21,894.55.
Overall, Sensex and Nifty last week broadly gained by 1% each.
Click it and Unblock the Notifications
Sign in with Google