Stock Market LIVE Updates: Sensex, Nifty50 slump over 1%; HDFC twins, Infy, HCL Tech, IndusInd, Kotak drop 2%

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09:40:09 IST

Stock Tips | India Cements, JSW Steel, Voltas among Sudarshan Sukhani, Mitessh Thakkar’s top picks today

–Mitessh Thakkar of mitesshthakkar.com recommends buying India Cements shares for a target price of Rs 222 with a stop loss at Rs 200.

–Sudarshan Sukhani of s2analytics.com suggests going long on Voltas with a stop loss at Rs 1,200. (Check out their other recommendations today)

09:37:07 IST

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HDFC twins, Adani Ports, Tech Mahindra, IndusInd, Tata Motors among top blue-chip losers

Infosys, HCL Tech, Kotak Mahindra Bank, NTPC and Hero MotoCorp were also among the worst hit stocks. Only four stocks — Hindalco, UPL, Bharti Airtel and Coal India — held on to the green in the Nifty50 pack. 

Here’s how the 30-scrip basket fared:

09:21:05 IST

Sensex tanks over 600 points, Nifty50 cracks below 17,750

Both headline indices extended losses after a gap-down opening. The 30-scrip index fell as much as 640.8 points or 1.1 percent to 59,582.35 in the first few minutes of the session, and the broader Nifty50 benchmark slumped to as low as 17,737.4, down 187.9 points or one percent from its previous close. 

09:12:18 IST

Pre-Open Market | Sensex down nearly 500 points, Nifty below 17,800

In the pre-opening session, the 30-scrip index was down 491.4  points or 0.8 percent at 59,731.8 and the broader Nifty50 benchmark at 17,768.5, down 156.8 points or 0.9 percent from its previous close.  

09:10:48 IST

Brokerage Calls |  UPL, real estate, cement stocks in the spotlight

–CLSA sees 2022 as a year of resilient demand and stable profitability for the cement space. Project announcements around state elections and the Union Budget could be a key catalyst, according to the brokerage. 

–CLSA has maintained a ‘buy’ call on UPL but raised its target price to Rs 1,100 from Rs 1,060. 

–Jefferies expects India’s residential property cycle to enter a second positive year in 2022. It also sees office occupancy rising as work-from-home operations reverse. (Catch other brokerage views today)

08:57:53 IST

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Global Cues | SGX Nifty suggests gap-down opening for Indian market

At 8:56 am, Singapore Exchange Nifty futures — an early indicator of the Nifty index — were down 157.5 points or 0.9 percent at 17,816. 

08:53:12 IST

Stocks To Watch | Phenix Mills, Future Retail, RBL Bank, UPL in focus today

–Phoenix Mills’ retail consumption has returned to pre-pandemic levels. 

–CLSA is positive on UPL. The brokerage has raised its target and FY22-24 EPS estimates. 

–RBL Bank’s loan growth stood at 3.5 percent in Q3 on a quarter-on-quarter basis and five percent on a year-on-year basis. (Check out the complete list of stocks to track today)

08:47:50 IST

Business Update | Phoenix Mills retail consumption returns to pre-COVID levels

Phenix Mills said consumption stood at Rs 2,056 crore in Q3, around 100% of pre-pandemic levels.

Here are some highlights:

–Q3 consumption up 103 percent on a quarter-on-quarter basis, 49 percent on a year-on-year basis

–Total consumption in December 2021 at Rs 695 crore, 91 percent of December 2019

–Strong recovery across operational categories with many categories exceeding pre-COVID levels

–Collections at Rs 441 crore, up 68 percent YoY, 231 percent QoQ

08:41:46 IST

MarketBuzz Podcast with Ekta Batra

Catch the big themes, vital news and key events you should know before the opening bell. MarketBuzz is your daily morning briefing by CNBC-TV18 research analysts and anchors to kickstart your stock market investing. (Tune in)

08:41:02 IST

Expected muted rise in equities in 2022, India could see some consolidation: Standard Chartered’s Manpreet Gill

Manpreet Gill of Standard Chartered told CNBC-TV18 he expects the dollar to peak in the first half of 2022. The Federal Reserve has signalled its intentions fairly well, he said.

Gill is not looking for a dramatic shift in policy going ahead. The Chinese policy is shifting with a goal of greater stability, he added.

08:38:19 IST

Expected muted rise in equities in 2022, India could see some consolidation: Standard Chartered’s Manpreet Gill

Manpreet Gill of Standard Chartered said in an interview to CNBC-TV18 he expects a muted rise for equities in 2022. He also thinks some consolidation could take place in India during the year. 

2022 will be about how emerging markets pick up the baton, and the question is whether India has run up too much too soon, he said. 

Businesses have become better in dealing with the COVID waves, Gill added.

08:17:26 IST

Sensex rose 367 points to 60,223 on Wednesday, Nifty50 climbed to 17,925

Indian equity benchmarks extended their winning streak to the fourth session in a row on Wednesday, led by financial, consumer and metal shares. The 30-scrip index ended 367.2 points or 0.6 percent higher at 60,223.2 and the broader Nifty50 benchmark settled at 17,925.3, up 120 points or 0.7 percent from its previous close.  

In the four back-to-back sessions, both headline indices have risen 4.2 percent. The Sensex has added 2,428.8 points and the Nifty50 risen 721.3 points.

08:08:36 IST

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Trade Setup | Can Nifty50 cross 18,000 now? 

The Nifty50 has formed a reasonable long candle on the daily chart with minor upper and lower shadows, according to Nagaraj Shetti, Technical Research Analyst at HDFC Securities. Some consolidation or minor correction from the highs is possible, he said. (Check out key market cues before the opening bell)

08:00:08 IST

S&P 500 tumbles 2%, Nasdaq Composite 3% after hawkish Fed minutes

On Wednesday, the S&P 500 tanked 1.9 percent, the Dow Jones 1.1 percent and the technology stocks-heavy Nasdaq Composite 3.3 percent.

Minutes of the Federal Reserve meeting signaled the US central bank may have to raise interest rates sooner than expected.

S&P 500 futures were up 0.1 percent in Asia early on Thursday. 

07:57:00 IST

Asian shares fall tracking Wall Street after Fed minutes signal sooner-than-expected rate hikes

Equities in other Asian markets fell tracking deep losses on Wall Street overnight, after minutes of the latest Fed meeting indicated Fed officials were ready to hike interest rates sooner than expected.

MSCI’s broadest index of Asia Pacific shares outside Japan was down 0.2 percent.

Japan’s Nikkei 225 tumbled 1.9 percent and China’s Shanghai Composite fell 0.4 percent. Hong Kong’s Hang Seng was flat.

South Korea’s KOSPI was down 0.2 percent. Singapore’s Straits Times was up 0.3 percent. 

07:36:42 IST

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