Market Closing: Sensex jumps 650 pts; Nifty ends above 18K; Titan, Maruti rally

Indian stock markets ended firm on Monday with Sensex topping the 60,000 mark. Nifty reclaimed the psychological level of 18,000 at the last half an hour of trade. Banks, financials and auto stocks were the show-stoppers in trade today. Globally, traders will be keeping a watch on inflation readings out of the United States and China this week as they try to assess the outlook for the world economy

10 Jan 2022, 03:35:46 PM IST

Sensex, Nifty end higher for second day in a row

Indian benchmark indices closed 1% higher for the second day in a row on Monday. Sensex surged 650.98 points to 60,395.63 and Nifty reclaimed the crucial 18,000 level. BSE Midcap and Smallcap indices gained  0.5-1% in line with the benchmarks. ICICI Bank, HDFC, Infosys powered the rally in Sensex. Wipro, Nestle and Asian Paints were the biggest laggards.

Banks, financials and auto stocks were the best gainers. 


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10 Jan 2022, 03:22:02 PM IST

Nifty tops 18,000 led by UPL, Titan

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10 Jan 2022, 03:15:01 PM IST

Covid-19 hospitalisation rate at 5-10%

India’s health ministry said on Monday only 5-10% of active covid patients have needed hospitalisation this time around compared with 20-23% in the previous wave that peaked in May. 

10 Jan 2022, 03:05:46 PM IST

Narendra Solanki, Head- Equity Research (Fundamental), Anand Rathi Shares & Stock Brokers on market performance

“Indian markets opened on a positive note following mixed to marginally positive Asian market peers as investors await more U.S. inflation data. During the afternoon session markets were trading in fine fettle as sentiments’ were upbeat after three months of selling spree, foreign investors have turned net buyers in the first week of January by infusing 3,202 crore in Indian equities. Additional support came as total employment generated by nine select sectors stood at 3.10 crore in the July-September 2021 quarter, which is 2 lakh more than that of the April-June period, according to a quarterly employment survey by the labour ministry. Traders also took solace as India has begun administering booster doses of the COVID-19 vaccine to frontline workers and vulnerable elderly people.”

10 Jan 2022, 02:55:13 PM IST

Hero Electric ties up with Turtle Mobility to strengthen last-mile delivery segment

10 Jan 2022, 02:44:20 PM IST

No lockdown in Delhi, DDMA mulls stricter Covid curbs

The Delhi Disaster Management Authority (DDMA) on Monday decided not to impose lockdown to contain the spread of COVID-19 and discussed further restrictions such as closing dine-in facility in restaurants and scaling down seating capacity in Metro trains and buses, officials said. (PTI)

10 Jan 2022, 02:34:07 PM IST

European shares slip as rate hike worries, rising infections weigh

European shares slipped in early trading on Monday after marking their first weekly drop in three last week amid surging Covid-19 infections and an increasingly uncertain interest rate outlook.

The pan-European STOXX 600 dropped 0.4%, as of 0830 GMT, weighed down by real estate, tech and industrial stocks, while major global share markets eked out gains.

10 Jan 2022, 02:24:10 PM IST

GNA Axles consolidated net profit falls to ₹166.7 mln vs ₹266.4 mln a year ago in December quarter 



10 Jan 2022, 02:14:51 PM IST

Gold slips globally as Fed rate hike bets lift yields ahead of U.S. data

Gold prices eased on Monday as traders awaited December U.S. inflation data that could stress the need for earlier-than-anticipated interest rate hikes by the Federal Reserve.

Spot gold was down 0.2% to $1,792.40 per ounce by 0820 GMT, after hitting its lowest level since Dec. 16 of $1,782.10 on Friday. U.S. gold futures fell 0.3% to $1,792.30.

10 Jan 2022, 02:05:43 PM IST

Navi Finserv offers high-value personal loans up to ₹20 lakh via app

Sachin Bansal-backed Navi Finserv (Navi) will offer high-value personal loans of up to 20 lakh through the Navi Lending App, at interest rates starting from 9.9% per annum with tenure up to 72 months.

Customers can avail of loans through the Navi app with flexible loan and EMI options, and zero pre-closure charges if they wish to pre-pay their loans before the chosen tenure.

10 Jan 2022, 01:56:10 PM IST

Tech Mahindra partners  Pyze to accelerate digital transformation using low code

Tech Mahindra Ltd has partnered with US-based analytics platform Pyze to accelerate digital transformation and application modernization using low code and legacy process optimization.

“Through this partnership, low-code developers, IT teams, and business teams will be able to reduce process inefficiencies faster. It will further enable organizations to improve user productivity and adoption, and maximize ROI of process transformation and application modernization projects,” Tech Mahindra said in a statement.



10 Jan 2022, 01:46:17 PM IST

All sectoral indices, barring pharma, in the green


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10 Jan 2022, 01:40:55 PM IST

Abbott India is Axis Securities’ pick of the week 

Revenue growth of Abbott India Ltd (AIL) for FY21 has outpaced the Indian Pharma Market (IPM) growth by 100 bps majorly contributed by addition of new products (15) in therapeutic areas like Gastroenterology, Central Nervous System and Metabolic and consumer health. AIL has leadership position in 9 top brands out of 10 in their respective therapies. Abbott India’ strategy of Going Digital and Services beyond the pill is the key differentiator and game changer for the company.

* Abbott India’ continuous endeavor to move from awareness to compliance to lifestyle modification has resulted in its success in the industry. The above strategy has led Abbott India’ branded business to grow 1.5x -1.8x of the industry growth. Investment Rationale q Delivered Strong Growth: Abbott India reported average growth of 11% as compare to IPM growth of 5.8% during month of October and November for year 2021.

* Abbott India has outpaced the industry growth by 520 bps during last 2 months. Gastrointestinal segment reported strong growth of ~30% led by normalcy in OPD operations in the country. Duphaston (Gynecological) sales have been stabilized as it received competition from Mankind.

* Leadership position in major therapies: AIL retained the leading position (90%) in the respective therapies that involves women’s health, gastroenterology, metabolics, pain management, CNS, and vaccines. AIL has leadership position in 9 top brands out of 10 in their respective therapies Products like Diegene, Brufen, Cremaffin, Influvac reported strong growth based on new features added.

* Healthy cash flow…

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