Benchmark indices climbed higher for the third consecutive day on Tuesday ahead of Q3 earnings announcements by IT heavyweights. Investors believe the earnings season will come with a positive surprise. The 30-share pack Sensex rose 221.26 points or 0.37 per cent to close at 60,7616.89. Its broader peer NSE Nifty climbed 52.45.80 points or 0.29 per cent to 18,055.75.

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GMR Infra starts trading on bourses as pure-play airport biz company

GMR Infrastructure Ltd (GIL) has started trading at the stock exchanges as a pure-play airport sector company from Tuesday onwards, according to a statement.

“GIL shares started trading today ex-GPUIL. This is post the demerger of non-airports business of GIL into GMR Power and Urban Infrastructure Limited (GPUIL),” the statement said.

Adani Power board appoints Shersingh B Khyalia as its CEO

Tata Tele opts for equity conversion; govt may get 9.5% stake

Price as on 11 Jan, 2022 05:30 PM, Click on company names for their live prices.

Tech View: Nifty forms bullish candle

The Nifty started the session on a shaky note and remained mostly sideward before closing with a marginal gain. On the daily chart two back to back bullish candle has been formed which signifies a positive trend. However, the headline index has resistance on the higher end around 18215 where some profit taking may pop up. Further, a decisive move above 18215 is likely to induce rally in the index. On the lower end support is visible at 17900-17850.

— Rupak De, Senior Technical Analyst at LKP Securities

Realty major DLF Ltd on Tuesday said it has sold properties worth Rs 1,500 crore in its newly launched housing project at Moti Nagar in the national capital, reflecting strong demand for luxury apartments; stock ended flat on Tuesday

Price as on 11 Jan, 2022 05:10 PM, Click on company names for their live prices.

We’re in the fourth week of rebound and now all eyes are on the earnings of three IT majors i.e. Infosys, TCS and Wipro for cues. We reiterate our positive yet cautious view on markets and suggest focusing more on sector/stock selection.

– Ajit Mishra, VP – Research, Religare Broking

SAT pulls up Sebi officer for inordinate delay in issuing show cause notice

The Securities Appellate Tribunal (SAT) has pulled up an adjudicating officer of Sebi for “inordinate delay” in issuing a show cause notice in a matter related to Shriram Insight Share Brokers Ltd. In addition, the tribunal has quashed a Sebi order, whereby the adjudicating officer had imposed a penalty of Rs 10 lakh on the brokerage house for certain violations.

Indian markets made decent up-move today despite selling seen in US markets. There are lot positive expectations in the market in relation to the Q3 results. We could see good positive momentum in the market in coming days. Lot will be focused on the IT pack that will start declaring its results from tomorrow.

– Rahul Sharma, Co-owner, Equity 99

Domestic benchmark indices showcased a flattish trend with positive bias as the market weighed the expectations of a strong quarter amid concerns over rising cases, supply issue and inflationary pressure. Global market was on the edge as Fed meeting minutes hinted at rate hikes. Investors awaited release of US CPI inflation data. Domestic inflation levels are also likely to be significant due to unfavourable base effect though food prices have declined during December.

– Vinod Nair, Head of Research at Geojit Financial Services

JUST IN: Tata Consumer appointments Gharry Eccles as President- International Business

ALERT: Rupee ends at the highest level against USD since Sept 27

Top 5 gainers & losers of today’s trading session

Price as on 11 Jan, 2022 03:41 PM, Click on company names for their live prices.

Sensex Heatmap: 18 of 30 stocks end in the green

Sector Watch: IT index gains the most ahead of Q3 earnings of heavyweights

CLOSING BELL: Sensex takes winning run to 3rd day, rises 221 pts; Nifty above 18,050; Voda Idea sinks 21%, HCL Tech climbs 4%

Gold rallies Rs 104; silver climbs Rs 408 tracking global trends

Gold price in the national capital on Tuesday jumped Rs 104 to Rs 46,606 per 10 grams, in line with a rally on international precious metal prices, according to HDFC Securities. In the previous trade, the precious metal settled at Rs 46,502 per 10 grams.

Top losers in the tourism & hospitality sector

Price as on 11 Jan, 2022 03:12 PM, Click on company names for their live prices.

Fintso partners with smallcase

Fintso, a B2B2C fintech platform, has partnered with smallcase. Through this partnership, distributors will be able to offer curated baskets of stocks and ETFs that are based on a theme, strategy, or goal to their clients, called smallcases.

On BSE, 758 stocks hit upper circuit limits while 176 stocks hit lower circuit limits

Taneja Aerospace climbs 5% after Porinju picks stake

Price as on 11 Jan, 2022 02:39 PM, Click on company names for their live prices.

Gold, silver spot prices

Top gainers in afternoon session

Price as on 11 Jan, 2022 02:15 PM, Click on company names for their live prices.

STOCK IN FOCUS: IRCTC

European stocks eye firm start

European shares look set for some kind of a rebound this morning as rising futures for the main benchmarks show investors are ready to buy at least some of yesterday’s dip. On that note, Marko Kolanovic, chief global markets strategist at JPMorgan wrote yesterday that Wall Street’s recent sell-off presents a buying opportunity. Euro STOXX 50, DAX, FTSE and IBEX futures are up between 0.1% and 0.4% but on Wall Street, futures are still slightly in the red.

Shriram Transport Finance Company raises $475 million through social bonds from international bond markets

Price as on 11 Jan, 2022 01:52 PM, Click on company names for their live prices.

Top 10 NSE movers

Price as on 11 Jan, 2022 01:41 PM, Click on company names for their live prices.

Indian economy to see 9.5% growth this fiscal: Arvind Virmani

The Indian economy is likely to register a growth of 9.5 per cent in this financial year, former chief economic adviser Arvind Virmani said on Tuesday. Addressing a virtual event organised by industry body PHDCCI, Virmani said that government expenditure and exports have peaked, but so far private consumption has not recovered due to the COVID-19 pandemic.

Manoj Dalmia, Founder and Director at Proficient Equities on Paytm stock

Paytm Share plunged by 6% and is further down 1.48% making its all-time low. Paytm’s payment business accounts for about 70% of revenue, which will be under threat if there are any regulatory changes. Also, its entry into insurance sectors has been rejected by regulators. The stock is trading at about 17 time FY23 sales which seems overvalued considering higher expenses and risk of attrition of senior executives.

Technical Analysis
: Rs 1285 was a key support area, the price has crossed this level. We expect a small retracement till Rs 1336.35 if any buying happens and further downwards Rs724.60

JUST IN: Marksans Pharma gets final approval for Cetirizine Hydrochloride Tablets 5 mg and 10mg from US FDA

Price as on 11 Jan, 2022 12:43 PM, Click on company names for their live prices.

How govt is trying to lure investors towards LIC IPO

From adjusting capital-markets rules to sending phone messages and publishing newspaper advertisements, authorities and executives are leaving no stone unturned in trying to ensure Life Insurance Corp. of India’s record initial public offering is a success. Authorities will review and amend rules on foreign-direct investment to make it easier to lure investors from abroad, an official said this month without specifying a time-frame.

Q3 business updates: Adani Green Energy

  • Sale of Energy increases by 97% YoY at 2,504 mn units in Q3 FY22 vs. 1,273 mn units in Q3 FY21
  • Solar portfolio CUF at 21.9% with 110 bps improvement YoY backed by ~ 100% plant availability
  • Wind portfolio CUF at 18.6% with 10 bps improvement YoY backed by ~ 97% plant availability

YES SECURITIES envisages Nifty hitting 21,000 in 2022; 32,000 in 2025

YES SECURITIES envisages Nifty to hit 21,000 by 2022 and 32,000 in 2025. With abundant liquidity to keep equities in the reckoning and growing institutional participation in the Indian markets, India is expected to continue gaining share in the emerging markets basket.

While global markets impact the Indian outlook, YES SECURITIES team predicts that US Taper Tantrums will not spoil the party. Rise in the cost of capital will be extremely gradual with FED normalizing ultra-cheap monetary policy. Indian trends are expected to follow the global benchmark.

JUST IN: Aurobindo Pharma’s arm CuraTeq and Orion expand licensing deal for marketing & distribution of biosimilar pipeline in Baltic States in Europe

Price as on 11 Jan, 2022 12:00 PM, Click on company names for their live prices.

Xpro India says approved issue, allotment of warants on preferential basis

Price as on 11 Jan, 2022 11:51 AM, Click on company names for their live prices.

Sensex trades firm after initial volatility, up 200 points

Top gainers in IT services pack

Price as on 11 Jan, 2022 11:31 AM, Click on company names for their live prices.

JUST IN

The Heavy Engineering arm of Larsen & Toubro dispatched two large Ethylene Oxide Reactors, weighing 1,200 Tons each from Hazira, Gujarat to a large petrochemical complex overseas. This was a repeat order after four identical Reactors were supplied by L&T to the same client in 2020 amidst Covid-19 pandemic during the first wave.

Price as on 11 Jan, 2022 11:06 AM, Click on company names for their live prices.

JUST IN: Meeting of Board of Directors of Hinduja Global Solutions will be held on January 14, 2022 to consider and explore potential mergers & acquisition opportunities; quantum/ timings of buy-back of equity shares

Price as on 11 Jan, 2022 10:55 AM, Click on company names for their live prices.

Vikas Khemani of Carnelian Capital believes there is a room for further re-rating for IT companies

Rupee gains 13 paise to 73.92 against US dollar in early trade

Mutual Fund SIP contribution in the month of December 2021 touched another all-time high of Rs. 11,305 crore. This is the 9th consecutive month of a new all-time high for monthly SIP contributions. Amongst active equity funds, Multi Cap Funds category saw the highest Gross Inflow of ~11000 crore followed by Sectoral/Thematic Funds category. On the back of the 3 NFO’s the Multi Cap Fund category Average Asset Under Management jumped 16% to Rs. 38,068 crore. Sectoral/Thematic funds continue to attract investor interest on the back of recent performance however that would not be the correct way for investors to increase allocations. Balanced Advantage/Dynamic Asset Allocation funds continue to attract investor interest (Gross inflow Rs. 6,221 crore) given concerns over the high trailing 12 month valuations.

– Akhil Chaturvedi, Chief Business Officer, Motilal Oswal Asset Management Company

Top 10 gainers in morning trade

Price as on 11 Jan, 2022 10:20 AM, Click on company names for their live prices.

See robust tailwinds for IT sector

– Vikas Khemani

Warning Bells!

Blackstone exits Mindspace Business Parks REIT; sells stake for Rs 1,740 crore

Sensex off day’s high, down 50 points

Contrary to expectations of modest returns in 2022 the year has started with 4% appreciation in Nifty so far in January. The surge is led by the justifiable uptrend in Bank Nifty which is up by 8% till 10th Jan. Good Q3 results expected from financials, particularly leading banks, IT, metals, telecom and oil and gas are driving the current momentum in stocks. However, an area of serious concern is the unbridled speculation in low-grade stocks, the cats and dogs. “Flying cats and dogs” is an indication of imminent correction. Chasing cats and dogs has always ended in grief. Therefore, investors have to be careful and stick to quality.

– Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

Q3 Business Update: JSW Steel

  • Crude Steel Production volume at 5.35 Million tonnes in Q3 FY’22: Growth of 6% QoQ and 28% YoY.
  • Stock down 3%

India to own 35.8% in Vodafone Idea after converting dues; stocks plunges 13%

Price as on 11 Jan, 2022 09:25 AM, Click on company names for their live prices.

Sector Watch

Nifty holds above 18,000

OPENING BELL: Sensex gains 150 points, Nifty stays above 18K; Vodafone Idea plunges 10%

Pre-open session: Sensex sheds 50 points, Nifty below 18,000

SGX Nifty signals a negative start

Nifty futures on the Singapore Exchange traded 69.50 points, 0.39 per cent, lower at 17,978, signaling that Dalal Street was headed for a negative start on Tuesday.

Tech View: Nifty50 hurdle seen at 18,200

Nifty50 on Monday reclaimed the 18,000 mark and formed a bullish candle on the daily chart, after making indecisive candles in the previous two sessions. Analysts said the index has come out of a range and some more upside is possible. They, however, expect Nifty50 to see strong resistance in the 18,200-18,400 range.

Dollar stagnates as traders wait on Powell for policy hints

The US dollar hovered near the middle of its recent range against major peers on Tuesday as traders looked to incumbent Fed Chair Jerome Powell’s nomination hearing later in the day for new clues on the timing and pace of policy normalisation. The dollar index, which measures the currency against six counterparts, hovered around 95.93 early in the Asian session.

Hong Kong shares open lower

Hong Kong stocks started Tuesday with losses following three days of healthy gains and after another drop on Wall Street over growing concerns about inflation and the Fed’s plans to wind back its stimulus. The Hang Seng Index slipped 0.29 percent, or 67.85 points, to 23,678.69. The Shanghai Composite Index eased 0.10 percent, or 3.61 points, to 3,589.90.

Japan stocks drop on US money tightening fears

Tokyo stocks opened lower on Tuesday after Wall Street shares ended mostly down on worries over shifting US monetary policy to address inflation. The benchmark Nikkei 225 index dropped 0.34 percent, or 97.76 points, to 28,380.80 in early trade, while the broader Topix index fell 0.05 percent, or 1.09 points, to 1,994.59.

US stocks settle mostly lower

US stocks fell despite staging a comeback late in the day, as bets that the Fed could raise interest rates as soon as March led investors to pare risky assets. The Dow Jones Industrial Average shed 0.45%, and the S&P 500 lost 0.14%. Technology stocks led the falls early in the day but rallied later in the session to leave the Nasdaq Composite up just 0.05%.