Sensex Today | Stock Market Updates: Sensex falls 400 points, Nifty below 21,600 points. Recession due to slump in PSU banks and FMCG

Not only are Indian stock market valuations soaring, but India is also the world’s most expensive large market, which could weigh on profits this year, foreign brokerage CLSA has warned. ing.

CLSA said in a report that Indian equities started 2024 in an extremely bullish mood, with top-10 valuations and record discount rates on bond yields. Despite India’s exciting long-term growth story and the prospect of a third term for the current government at the Centre, this deferred starting point could weigh on earnings this year.

Indian airlines have completed preventive inspections of Boeing 737 MAX aircraft in India as part of the directives of the Civil Aviation Regulatory Authority of India, the Directorate General of Civil Aviation said.

“As a precautionary measure, the DGCA on January 6 directed all Indian operators using Boeing 737 Max 8 aircraft to ensure the operation and proper closure of emergency exits across their wings by January 7. These checks were fully carried out on a fleet of aircraft in service.” Boeing B737-8 Max by Air India Express (4 aircraft), SpiceJet (8 aircraft) and Akasa Airlines (20 aircraft) aircraft,” the regulator said.

Asian stocks fell on losses in Hong Kong and China on concerns about tighter regulation of the gaming industry and that Beijing’s economic stimulus measures were not enough. S&P500 futures are little changed. Hong Kong’s Hang Seng Index fell 2.2%. China’s Shanghai Composite Index fell 1.2%, and Australia’s S&P/ASX 200 index fell 0.5%. The Japanese market was closed today.

ACC, a subsidiary of Adani-owned Ambuja Cements, on Monday announced the acquisition of the remaining 55% stake in Asian Concrete and Cements Private Limited (ACCPL) from the promoters. INR425.96 million.

Gold prices fell on Monday as waning expectations for early US interest rate cuts supported the dollar and bond yields ahead of a key inflation measure due later this week.

As of 0556 GMT, spot gold was down 0.7% at $2,030.49 an ounce. US gold futures fell 0.6% to $2,037.00 per ounce.

The company has announced that its resigning subsidiary, Delhi International Airports Limited (DAIL), after an arbitration tribunal, will not be able to pay its Monthly Annual Fees (MAF) for the period from March 19, 2020 to February 28, 2022. It was announced that he was exempted. The decision was made on January 6th.

Cement manufacturers are embracing green energy by investing in wind and solar energy and waste heat recovery systems (WHRS) to reduce carbon emissions and lower energy costs. “While the use of alternative fuels to replace coal and petroleum coke is increasing, these organic materials have a calorific value 20-25% lower than fossil fuels, making a complete replacement technically difficult,” Crisil Market said Mylene Roda, Director of Research, Intelligence & Analytics.

The FMCG giant said it expected “mid-single-digit sales volume growth” on a consolidated basis in the December quarter.

On the domestic front, GCPL’s organic business achieved steady mid-single-digit underlying volume growth, while the inorganic business did the same as Park Avenue and Kama Sutra reported double-digit volume growth. did.

Narayana Hrudayalaya: The company’s wholly-owned subsidiary has received approval from the Insurance Regulatory and Development Authority of India to start health insurance operations in India. The company operates one of the largest hospital chains under the brand name Narayana Hospital.

The company posted a 22% revenue increase in the December quarter. From October to December, the group added 90 stores across all industries, bringing the group’s retail store count to 2,949.

The jewelery sector, which accounts for more than three-quarters of sales, reported 21% growth in the domestic market. The company said this was driven by double-digit buyer growth and moderate improvement in average selling prices.

FMCP announced that although consolidated sales for the December quarter decreased by low single digits compared to the same period last year, operating income increased by low double digits.The parachute oil maker also said domestic sales volumes are expected to increase by low single digits in the December quarter.

Dabur India had a dismal 2023 stock performance, falling by about 1% at one point while sector index Nifty FMCG rose as much as 29%. Darboul said that although growth in rural areas has lagged behind that of urban markets, demand is gradually improving. “Unlike most consumer-facing companies, Dabur has witnessed a recovery in rural demand. Prominence in rural markets,” Nomura Financial Advisory & Securities (India) said in a Jan. 4 report. “This should bode well for the coming quarters.”

Nifty has edged up slightly but remains comfortably above the 21,700 level. BPCL, Eicher Motors top the charts, Bajaj Financier, UPL slump.

Sensex gained 100 points with 72,100 trades opened. Titan, L&T and Tata Steel were the top gainers, while Infosys and Bajaj Finance were the main losers.

In the cash segment, FIIs purchased significant stakes INRIt bought $1,696.86 million on Friday, but INRF&O Index Futures segment has 485.32 million shares worth.But DII bought INROn Friday, 26,024.54 million shares worth of shares in the F&O Index Futures segment were offered for sale, while the equivalent of Indian shares were sold. INRIn the spot market, it was $3,497.62 million.

Eleven stocks were subject to F&O bans on Monday. Those stocks are Balrampur Chini, Chambal Fertilisers, Delta Corp, Escorts, GNFC, IEX, India Cements, NALCO, SAIL, PEL, ZEEL.

Adani Group is considering expanding its airport business globally, starting with the Far East and Southeast Asia, said an executive aware of the development. The expansion will form part of the second phase of the group’s airport plans, which entered the sector in 2020. (Full report)

Oil prices fell in early trading on Monday after major exporter Saudi Arabia cut prices and OPEC increased production. This trend has overshadowed concerns about growing geopolitical instability in the Middle East.

Brent crude fell 9 cents, or 0.1%, to $78.67 per barrel. Similarly, U.S. West Texas Intermediate crude oil futures fell 10 cents, or 0.1%, to settle at $73.71 per barrel.

Two people close to the discussions said the interim budget on February 1 is likely to increase tax refunds under the new personal income tax system, a relief for the middle class as the general election approaches. right.

Dr Reddy’s, Federal Bank, Titan, Adani Wilmar, JSW Steel, Reliance, Bajaj Auto and Marico are among the stocks that could be in the news on Monday.

Net foreign portfolio investment inflows into Indian stocks and bonds in 2023-24 reached a nine-year high.in INR2.68 trillion, which is just INR9.625 billion yen left to reach record net inflow from 2014 to 2015 INR2.77 trillion. On an average monthly basis, foreign portfolio investors are making net investments. INRIndia’s equity and debt for the current financial year is 29,780 billion yen. With just three months left until the end of 2023-24, the final numbers could set a new FPI record. (Full text of report)

Asian stock markets remained in a narrow range on Monday as traders awaited this week’s inflation data from the United States, Japan and China. Employment and activity data were mixed on Friday, capping off a lackluster start to the year. The Japanese market is closed today due to a public holiday.

South Korean stocks edged higher and Australian stocks were also slightly higher, but Hong Kong futures contracts showed a flat start. U.S. stock futures were little changed after the S&P 500 rose 0.2% on Friday on reports that U.S. job growth beat expectations but slowed in the services sector.