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“The IT industry is likely to showcase muted QoQ growth in Q3 due to near-term challenges such as prolonged higher inflation & interest rate, delaying discretionary projects and slowing down future earnings growth. Valuations are above long-term average; however, margins are expected to improve led by cost-cutting measures, easing attrition and improvement in utilization. Despite industry challenges, there is optimism in the sector, which is driven in anticipation of the end of the rate tightening cycle, which is expected to accelerate the resumption of delayed projects. While future attention is on new demand emerging from technologies like generative AI, machine learning and cloud computing, as well as new deals won by Indian IT companies during 2023. In context to the recent rally of the sector, IT may endeavour volatility in the short-term, however don’t foresee substantial weakening, offering accumulation strategy.”
– Vinod TP, Research analyst, Geojit Financial Services
02:43:32 PM IST, 02 January 2024
Indian rupee may rise to 81/USDIndian rupee may rise to 81/USD by 2024 end amid robust inflow hopes – Goldman Sachs
Still, the currency will underperform its Asian peers as the Reserve Bank of India (RBI) could continue to accumulate inflows and build forex reserves “at every opportunity,” economist Santanu Sengupta said. by 2024 end amid robust inflow hopes – Goldman Sachs
14:12 -MUMBAI (Reuters) – The Indian rupee is likely to appreciate to 81 against the U.S. dollar over the next 12 months amid expectations of heavy foreign capital inflows, Goldman Sachs said in a note on Tuesday.
Still, the currency will underperform its Asian peers as the Reserve Bank of India (RBI) could continue to accumulate inflows and build forex reserves “at every opportunity,” economist Santanu Sengupta said.
02:42:45 PM IST, 02 January 2024
China stocks fall on first trading day of 2024 on tepid recovery, sentiment
China stocks closed down on the first trading session of the new year, snapping a three-session winning streak, as latest data signalled uneven economic recovery, while business confidence for 2024 appeared to be subdued.
02:42:03 PM IST, 02 January 2024
Sensex Today | Stock Market LIVE Updates: Adani Ports- cargo volumes jump 42% YoY in Dec 2023
01:54:49 PM IST, 02 January 2024
Sensex Today | Stock Market LIVE Updates: Federal Bank says provisional gross advances as of Dec 31 up 18% YoY
01:33:47 PM IST, 02 January 2024
Sensex Today | Stock Market LIVE Updates: RIL subscribes preferential shares of Alok Industries worth Rs 3300 crore.
01:24:05 PM IST, 02 January 2024
Sensex Today | Stock Market LIVE Updates: Vodafone Idea is not in talks to tie-up with billionaire Elon Musk’s satellite internet unit Starlink, the Indian telecom operator said on Tuesday.
01:18:34 PM IST, 02 January 2024
Stock Market LIVE Updates: Tata Sons taps private equity funds for a stake sale in Tata Digital- Media Sources
01:14:51 PM IST, 02 January 2024
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12:58:21 PM IST, 02 January 2024
Sensex Today | Stock Market LIVE Updates: Shares of Bharat Heavy Electricals (BHEL) surged over 3% to hit their fresh 52-week high of Rs 204.90 on the NSE. Rising for the fourth consecutive session, BHEL’s rally has been more pronounced since Monday following a media report that said that the state-owned engineering company has emerged as the best bidder for a Rs 19,422-crore turnkey contract for building a thermal power plant for NLC India at Talabira, Odisha.
12:48:33 PM IST, 02 January 2024
Sensex Today | Stock Market LIVE Updates: Gujarat Alkalies and Chemicals and Vedanta have signed memorandum of understanding to explore business opportunities
12:29:23 PM IST, 02 January 2024
Sensex Today | Stock Market LIVE Updates: Shares of food delivery platform Zomato rose 3% to Rs 128.3 in Tuesday’s trade on BSE after the firm increased the platform fee it charges users for food delivery to Rs 4 per order in its key markets from Rs 3. The 33% increase is effective from January 1.
12:26:49 PM IST, 02 January 2024
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12:23:24 PM IST, 02 January 2024
Sensex Today | Stock Market LIVE Updates: Auto stocks in the red amid Dec sales data
12:20:28 PM IST, 02 January 2024
Sensex Today | Stock Market LIVE Updates: Shares of GAIL (India) plunged 5% to the day’s low of Rs 158.10 on Tuesday following a downgrade by Kotak Institutional Equities which said that the stock was running ahead of its fundamentals on optimism.
12:06:28 PM IST, 02 January 2024
Sensex Today | Stock Market LIVE Updates: Top gainers & losers at this hour
11:56:48 AM IST, 02 January 2024
Dollar starts 2024 on firm footing, bitcoin above $45,000
The dollar index, which measures the U.S. currency against six rivals, fell 2% in 2023, snapping two years of gains. It was last at 101.44, up 0.059%, as investors weighed the prospect of the Fed cutting rates this year.
11:43:32 AM IST, 02 January 2024
Gold firms on Fed rate-cut hopes; US data in focus
Spot gold was up 0.5% at $2,071.99 per ounce, as of 0545 GMT. U.S. gold futures also gained 0.5% to $2,081.00 per ounce.
11:37:39 AM IST, 02 January 2024
Stock Market LIVE Updates: Diffusion Engineers files DRHP with SEBI for IPO
Diffusion Engineers, engaged in the business of providing engineering solutions to customers both in domestic and international market has filed its draft red herring prospectus (DRHP) papers with capital markets regulator Securities and Exchange Board of India (SEBI) to mop up funds through an initial public offering (IPO). The company plans to raise funds through offer of equity shares through initial public offerings. The initial share sale is a complete fresh issuance of 9.84 million equity shares.
11:22:30 AM IST, 02 January 2024
Sensex Today | Stock Market LIVE Updates: NMDC says prices of Lump Ore fixed at Rs 5,600 per ton from Jan 2
11:14:30 AM IST, 02 January 2024
Stock Market LIVE Updates: Commercial vehicle maker Ashok Leyland on Tuesday reported 10 per cent decline in total sales at 16,324 units in December 2023 as compared to 18,138 units in the year-ago period. Domestic sales were down 10 per cent at 15,323 units as against 17,112 units in December 2022, Ashok Leyland said in a regulatory filing.
10:54:24 AM IST, 02 January 2024
Crypto Price Today: Bitcoin jumps above $45,000 for first time since April 2022; Solana rises 10%
Bitcoin touched a 21-month peak of $45,488, having gained nearly 155% last year in the strongest performance since 2020. BTC was last up 6.9% at $45,264 but remains far off the record high of $69,000 it touched in November 2021. Meanwhile, the second largest crypto, Ethereum rose 4.9% to $2,386.
10:46:23 AM IST, 02 January 2024
Stock Market LIVE Updates: NIFTY SLIPS BELOW 21,600!
10:42:13 AM IST, 02 January 2024
Sensex Today | Stock Market LIVE Updates: SENSEX TANKS 600 POINTS!
10:27:06 AM IST, 02 January 2024
Crypto firm Sinohope sees losses grow over 40%, no FTX funds in sight
Sinohope reported a net loss of $37 million, nearly 40 per cent greater than its net loss in the same period in 2022, the company said in a filing with the Hong Kong stock exchange, reports South China Morning Post.
10:16:38 AM IST, 02 January 2024
Sensex Today | Stock Market LIVE Updates: Top losers from auto sector
10:10:59 AM IST, 02 January 2024
Stock Market LIVE Updates: Rays Power Infra files DRHP for IPO
Mumbai-based Rays Power Infra Ltd, an integrated solar power company, has filed its Draft Red Herring prospectus (DRHP) with capital market regulator Sebi to raise funds through for its initial public offering (IPO). The IPO with a face value of Rs 10 comprises of fresh issue of equity shares up to Rs 300 crore and an offer for sale (OFS) of up to 2.99 million shares by promoter selling shareholders.
10:03:23 AM IST, 02 January 2024
Stock Market LIVE Updates: Sensex tumbles 400 points
09:58:50 AM IST, 02 January 2024
Sensex Today | Stock Market LIVE Updates: Ashok Leyland Dec total vehicles sold at 16324 units vs 18138 units year ago
09:50:27 AM IST, 02 January 2024
Stock Market LIVE Updates | BROKERAGE TAKE: Motilal Oswal maintained a buy rating on Lemon Tree but raised the target price to Rs 150 from Rs 135 earlier which translates into an upside of 27% from Rs 118 recorded on 1 January 2024.
09:44:37 AM IST, 02 January 2024
Stock Market LIVE Updates: Dhanlaxmi Bank rose over 6% after its gross advance came in at Rs 10,350 crore for the quarter ended December, up 11% year-on-year.
09:36:34 AM IST, 02 January 2024
Sensex Today | Stock Market LIVE Updates: APL Apollo Tubes registered a sales volume of 6,03,659 ton in Q3FY24 compared to 6,05,049 Ton in Q3FY23 and 6,74,761 Ton in Q2FY24.
09:32:07 AM IST, 02 January 2024
Stock Market View | Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
Declining dollar and US bond yields provide a favourable global context for equities. FII inflows in 2024 are likely to be huge and have the potential to lift high quality large-caps, particularly in segments like banking where valuations are fair.
An important trend to watch is the spike in the volatility index VIX to 14.5 which indicates that high volatility is round the corner. Yesterday’s sell off in the last 30 minutes is a warning that at higher levels there can be bouts of big selling.
09:31:50 AM IST, 02 January 2024
Sensex Today | Stock Market LIVE Updates: Eicher Motors shares fell 2% after Royal Enfield sales were down 7% to 63,387 units in the month of December as against 68,400 units in the preceding month.
09:24:59 AM IST, 02 January 2024
Rupee falls 9 paise to 83.30 against US dollar in early trade.
09:20:52 AM IST, 02 January 2024
Sensex Today | Stock Market LIVE Updates: GAIL, BHEL among most active stocks in morning trade
09:19:56 AM IST, 02 January 2024
Opening Bell: Sensex falls 100 points, Nifty nears 21,700; Zomato jumps 3%, Eicher drops 2%
09:06:39 AM IST, 02 January 2024
Sensex Today | Stock Market LIVE Updates: Pre-open session: Sensex rises 130 points; Nifty above 21,780
08:50:17 AM IST, 02 January 2024
Pre-opening market comment by Prashanth Tapse, Senior VP (Research), Mehta Equities
Wall Street remained closed for New Year’s Day, resuming 2024 trading on Tuesday. In contrast, Nifty experienced a fluctuating session in the previous trade, managing to conclude slightly above its starting point on the first trading day of the year. The predominant theme in the market was volatility, evident in Nifty’s trading action. Looking ahead to Tuesday, the outlook indicates a lack of significant market movements. Nifty’s options data suggests a trading range of 21300-22300, with the crucial resistance zone at 22000. The technical analysis for Nifty reveals immediate upside targets at 22000, with a make-or-break support at 21487. The market anticipates volatility, influenced by factors such as the surge in COVID-19 sub-variant JN.1 cases in India, FOMC minutes on January 4th, and U.S. NFP figures later in the week. The recommended trade for Nifty (21742) is to buy at the current market price with a stop at 21301 and targets at 21900/22100, including aggressive targets at 22500-22750. Similarly, for Bank Nifty (48234), the suggestion is to buy at the current market price with a stop at 47601 and targets at 48636/49000, with aggressive targets at 49501-50000. The highlighted stocks for intraday trading with an inter-week perspective are ADANI PORTS, BANK OF BARODA, COAL INDIA, ZEE ENTERTAINMENT, and TECH MAHINDRA. Additionally, the recommended stock to buy is ADANI PORTS (CMP 1048) with a stop at 951 and targets at 1109/1157, including aggressive targets at 1251, based on a momentum play strategy.
08:46:38 AM IST, 02 January 2024
Sensex Today | Stock Market LIVE Updates: Godrej Properties buys about 4-acre land parcel in prime corridors of North- West Bengaluru
- Project estimated revenue potential of Rs 1000 crore with scope to increase to Rs 1250 crore
08:35:26 AM IST, 02 January 2024
Bitcoin above $45,000 for first time since April 2022
Bitcoin rose 3% to break above $45,000 on Tuesday for the first time since April 2022 as the world’s biggest and best-known cryptocurrency started 2024 with a bang.Bitcoin rose to touch a 21-month high of $45,386 earlier in the day and was last up 2% at $44,980.
08:14:36 AM IST, 02 January 2024
Sensex Today | Stock Market LIVE Updates: Oil jumps 1% in New Year after U.S. forces repel Houthis in Red Sea
Oil prices jumped 1% on Tuesday, starting the New Year higher as a Red Sea naval clash focused attention on potential Middle East supply disruptions and expectations of Chinese economic stimulus boosted the demand outlook in the world’s top crude importer. Brent crude rose $1.03, or 1.3%, to $78.07 a barrel by 0225 GMT while U.S. West Texas Intermediate crude was at $72.53 a barrel, up 88 cents, or 1.2%.
08:04:15 AM IST, 02 January 2024
Sensex Today | Stock Market LIVE Updates: Asia shares get 2024 to steady start with busy data calendar in focus
Asian shares started the first trading day of the New Year on a steady footing on Tuesday, as investors returning after a holiday lull looked ahead to fresh trading catalysts from key economic releases later in the week.
07:48:31 AM IST, 02 January 2024
Sensex Today | Stock Market LIVE Updates: Gold kicks off 2024 on higher note on US Fed rate-cut hopes
Gold prices edged higher on Tuesday, supported by the prospect of interest rate cuts in 2024 from the Federal Reserve, while investors look forward to a slew of economic data this week for more clarity on the U.S. rate outlook.
07:24:26 AM IST, 02 January 2024
Sensex Today | Stock Market LIVE Updates: Dollar starts 2024 steady, focus switches to data
The dollar was steady on the first trading day of the year as traders weighed the prospect of steep interest rate cuts from the Federal Reserve in 2024 and looked to economic data this week for clues on the central bank’s next moves.
07:24:33 AM IST, 02 January 2024
Sensex Today | Stock Market LIVE Updates: GIFT Nifty (Earlier SGX Nifty) signals a positive start
GIFT Nifty on the NSE IX traded higher by 19 points, or 0.09 per cent, at 21,864, signaling that Dalal Street was headed for positive start on Tuesday.
07:24:41 AM IST, 02 January 2024
Sensex Today | Stock Market LIVE Updates: Tech View: Nifty bulls show indecisiveness at peak
After hitting a fresh record high on the first day of the calendar year, Nifty on Monday ended 11 points higher to form a high wave type candlestick pattern on the daily chart.
07:24:48 AM IST, 02 January 2024
Sensex Today | Stock Market LIVE Updates: Rupee falls 5 paise against US dollar
The rupee started the new year on a weak note, depreciating by 5 paise to 83.21 against the US dollar amid a muted trend in domestic equities and dollar demand from importers.
07:24:58 AM IST, 02 January 2024
Sensex Today | Stock Market LIVE Updates: Sensex, Nifty on Monday
The 30-share BSE benchmark Sensex rose 32 points or 0.04% to settle at 72,272. The broader NSE Nifty gained 10 points or 0.05% to end at 21,742. During the day, Sensex hit a low of 72,031.23 and a high of 72,561.91, its lifetime intraday peak.
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