Market crash highlights: Sensex, Nifty plunge more than 2%; Nifty Bank down over 4%

17 Jan 2024, 03:32 PM IST
Sensex Crash Today Live: Sensex, Nifty close more than 2% lower 

At close, the Sensex was down 1,613.64 points or 2.20% at 71,500.76, and the Nifty was down 453.90 points or 2.06% at 21,578.40.

17 Jan 2024, 03:27 PM IST
Sensex Crash Today Live | Share Market Crash Today Live: ECB’s Lagarde says summer rate cut ‘likely’: AFP

The European Central Bank could start cutting interest rates this summer, president Christine Lagarde said Wednesday, while stressing that any such move would depend on the latest economic data, AFP reported.

17 Jan 2024, 03:20 PM IST
Sensex Crash Today Live: Morgan Stanley on ICICI Lombard

-Overweight call, target ₹1,750 a share

-Underwriting loss was lower than estimated

-PAT missed estimate by 2% and consensus by 10-15% as the company booked much lower capital gains

-Management maintained its combined ratio guidance of 102% by the end of FY25

17 Jan 2024, 03:12 PM IST
Sensex Crash Today Live | Share Market Crash Today Live: ICICI Lombard stock sees biggest indraday jump since last May 

Despite weakness in the broader market, shares of ICICI Lombard General Insurance surged 7.4% to an intraday high of ₹1,476. This was the stock’s biggest intraday jump since May 2023, and was due to the company’s strong Q3 earnings. On Tuesday evening it reported a 22.4% year-on-year increase in net profit to ₹431 crore from ₹353 crore.

17 Jan 2024, 03:04 PM IST
Sensex Crash Today Live: 3 pm market update

At 3 pm the Sensex was down 1,596.68.14 points or 2.18% at 71,532.09, and the Nifty was down 455.60 points or 2.18% at 21,576.70.

17 Jan 2024, 02:58 PM IST
Sensex Crash Today Live: Asian Paints Q3 highlights

Consolidated net sales up 5.4% at ₹9,075 crore

Standalone net sales up 5.2% at ₹7,883 crore

Consolidated PBDIT margin up 400 bps

PBDIT margin up 410 bps

Consolidated profit after tax up 34.5%

17 Jan 2024, 02:56 PM IST
Sensex Crash Today Live: Asian Paints net profit up 34.5% at ₹1,475 crore in Q3

Revenue came in at ₹9,103 crore. The stock is currently down 1.78% at ₹3,238.10.

17 Jan 2024, 02:35 PM IST
Sensex Crash Today Live: Nifty Bank index sees biggest one-day fall since May 2022

The Nifty Bank index is down 4%, its biggest single-day fall since May 2022. HDFC Bank is down almost 8% at ₹1,546.20, ICICI Bank is down 2.44% at ₹984.40, and Axis Bank is down 2.84% at ₹1,087.30.

17 Jan 2024, 02:30 PM IST
Sensex Crash Today Live: European shares slump on hawkish ECB remarks, disappointing China data

European shares opened sharply lower on Wednesday, as more hawkish remarks from European Central Bank officials tempered expectations of interest rate cuts, Reuters reported. Glum economic data from China further soured investor sentiment.

The pan-European STOXX 600 index was down 1.2% by 0814 GMT, its lowest in more than a month.

17 Jan 2024, 02:18 PM IST
Sensex Crash Today Live: Asian Paints Q3 earnings preview

Asian Paints is likely to post a mixed performance for the December quarter later today. According to analysts, paint demand was satisfactory during the festival month of November but lost steam after that. The erratic monsoon prevented a huge pick up in demand during the quarter. Nevertheless, industrial demand is likely to support growth for Asian Paints and its peers.

17 Jan 2024, 02:14 PM IST
Sensex Crash Today Live: UK inflation rate rises to 4% in December for first time in 10 months: Reuters

Britain’s annual rate of consumer price inflation rose for the first time in 10 months in December, increasing to 4% from 3.9% in November, which was its lowest in more than two years, official figures unexpectedly showed on Wednesday, as per Reuters.

17 Jan 2024, 02:08 PM IST
Sensex Crash Today Live: 2 pm market update

Sensex Crash Today | Share Market Crash Live Updates: At 2 pm, the Sensex was down 1,359.14 points or 1.86% at 71,769.63, and the Nifty was down 383.70 points or 1.74% at 21,648.60.

17 Jan 2024, 01:58 PM IST
Sensex Crash Today Live: IT stocks shine

Among sectoral indices, while Nifty Bank emerged as the biggest loser, falling nearly 4%, Nifty IT was the best performer, up 0.6%.

17 Jan 2024, 01:39 PM IST
Sensex Crash Today Live: Dollar at a one-month high

The dollar index climbed to a one-month high against a basket of currencies on Wednesday, fuelled by remarks from Federal Reserve Governor Christopher Waller that dampened expectations for a March rate cut, Reuters reported.

Meanwhile, China’s offshore yuan failed to hold on to its small gain from a two-month low in the wake of mixed domestic economic data, as expectations grow for Beijing to roll out more stimulus soon.

17 Jan 2024, 01:15 PM IST
Sensex Crash Today Live: Only five gainers on Sensex at 1 pm

Of the 30 companies in the benchmark BSE Sensex, only five were in the green at 1 pm, while the rest bled red. The biggest losers were HDFC Bank, Kotak Mahindra Bank, Tata Steel, ICICI Bank and Bajaj Finserv.

17 Jan 2024, 12:55 PM IST
Sensex Crash Today Live: Kotak Institutional Equities downgrades Indraprastha Gas Limited and Mahanagar Gas Ltd

With tepid volume growth in the CGD sector and weak volume growth in CNG public transport vehicles (busses, autos and taxis), on top of the rising share of electric vehicles, Kotak Institutional Equities has downgraded IGL and MGL to Sell. While MGL shares were down 0.5%, IGL shares were down nearly 0.1%.

17 Jan 2024, 12:26 PM IST
Sensex Crash Today Live: ICICI Lombard stock surges nearly 7% on strong Q3FY24 results

ICICI Lombard stocks were trading nearly 7% up at ₹1466.35, from the previous close of ₹1,374.20, riding on the 22.4% year-on-year growth in net profit at ₹431 crore for the December quarter, and gross direct premium income increase of 13.4% to ₹6,230 crore.

17 Jan 2024, 12:01 PM IST
Sensex Crash Today Live: 12 pm market update

At 12 pm the Sensex was down 1,257.80 points or 1.72% at 71,870.97, and the Nifty was down 357.30 points or 1.62% at 21,675.

17 Jan 2024, 11:49 AM IST
Sensex Crash Today Live: RVNL shares surge 5% to fresh all-time high

Shares of Rail Vikas Nigam Ltd (RVNL) jumped 5.19% an all-time high of ₹235.10. The stock has delivered more than 210% returns in a year.

17 Jan 2024, 11:41 AM IST
Sensex Today Live: BHEL stock up more than 4%

BHEL shares are in the green for the third straight day, up 4.41% at ₹211.95. The stock is up 127.69% in the past six months and 165.48% in the past year.

17 Jan 2024, 11:39 AM IST
Sensex Crash Today Live: Broad market indices

17 Jan 2024, 11:35 AM IST
Sensex Crash Today Live: Adani Energy Solutions stock in focus

The company said its transmission and smart metering business maintained 99.67% system availability in Q3 and added 302 ckms to the operational network.

The stock is currently down around 2.75%.

17 Jan 2024, 11:21 AM IST
Sensex Crash Today Live: PTC surges 10% on Dassault Aviation pact

Shares of PTC Industries surged 10% to a new high of ₹7,663.25 on the BSE after its subsidiary signed a pact with France-based Dassault Aviation for the supply of titanium cast parts for the Rafale multirole fighter aircraft.

17 Jan 2024, 11:04 AM IST
Sensex Crash Today Live: 11 am market update

At 11 am the Sensex was down 1,048.31 points or 1.43% at 72,080.46, and the Nifty was down 291.20 points or 1.32% at 21,741.10.

17 Jan 2024, 11:03 AM IST
Sensex Crash Today Live: IT, Media only sectors in the green

17 Jan 2024, 11:00 AM IST
Sensex Crash Today Live: Infosys recognised as Top-3 IT services brand globally

Infosys announced today that it has been recognised as a Top 3 IT services brand globally and the fastest-growing IT services brand over a five-year period in Brand Finance’s Global 500 report for 2024. Infosys’s brand value has more than doubled in last five years and it is the 145th most valuable brand in the world, according to the report.

17 Jan 2024, 10:54 AM IST
Sensex Crash Today Live: Hareesh V, head of commodities, Geojit Financial Services on gold outlook

“Since domestic prices are at a near-record high, there are chances of a correction possibly in the first quarter of 2024. However, a weak INR and expectations of jewelry demand would offer downside support and hence it may preserve its positive outlook in the coming year as well.

“At the same time, gold in the international market is likely to face some headwinds so it may trade in a tight range with minimum chances for major rallies or liquidation. US policy decisions, firm equities, and the performance of US assets would be the downside obstacles while the chances of low interest rates, geopolitical uncertainties, and central bank purchases are likely to dent major liquidation in prices.”

17 Jan 2024, 10:38 AM IST
Sensex Crash Today Live: L&T Construction wins orders for buildings & factories business in India, Oman

L&T’s buildings & factories business has secured orders in India & Oman.

The residential business has secured a significant repeat order from the Government Planning & Development Authority, Maharashtra, to construct EWS housing, 14 towers and related infrastructure in Navi Mumbai.

L&T’s Oman entity has been awarded a contract for a mixed-use development project by a reputed private client in Muscat.

17 Jan 2024, 10:35 AM IST
Sensex Crash Today Live: Morgan Stanley on HDFC Bank

-Overweight call, target ₹2,110 a share

-Profit after tax grew by 2% qoq in Q3 owing to lower taxes, beating estimate by about 4%

-NII was up 4% QoQ, in-line with estimate

-Margins were stable as expected

-Core PPoP was up 3% qoq, broadly in line with estimate

-Credit costs were higher than estimated, largely owing to one-time contingency provisions

17 Jan 2024, 10:16 AM IST
Sensex Crash Today Live: ICICI Lombard stock up more than 5% after Q3 results

The company registered 22.4% year-on-year growth in net profit at ₹431 crore for the December quarter, while the gross direct premium income increased by 13.4% to ₹6,230 crore. 

The stock is currently up 5.42% at ₹1,448.75.

17 Jan 2024, 10:09 AM IST
Sensex Today Live: Rahul Kalantri, VP, commodities, Mehta Equities

“Crude oil experienced significant volatility before settling on a stable trajectory. The dollar index strengthened, reaching a one-month high, thereby restraining the upward momentum of crude oil in the global markets. Additionally, milder weather conditions in the US during the latter half of January contributed to a decline in oil prices, as the potential for warmer weather could reduce the demand for heating oil.

“The surge in US stocks over the past two weeks, driven by increased US production and decreased demand, exceeded expectations. Despite this, geopolitical tensions in the Red Sea and positive Chinese stimulus measures provided support to oil prices.

“Anticipating continued volatility, we project crude oil prices to fluctuate during today’s session. Support for crude oil is identified at $71.40–70.50, with resistance at $72.85-73.50 in today’s session. In terms of INR, crude oil has support at ₹5,920-5,840, while resistance is at ₹6,110-6,190.”

17 Jan 2024, 10:06 AM IST
Sensex Crash Today Live: LIC overtakes SBI as most valuable PSU stock

With LIC’s stock up almost 2% today and SBI’s down 0.7%, LIC’s market cap is now ₹5.75 lakh crore and SBI’s is ₹5.65 lakh crore.

17 Jan 2024, 10:04 AM IST
Sensex Crash Today Live: 10 am market update

At 10 am the Sensex was down 840.91 points or 1.15% at 72,287.86, and the Nifty was down 242.40 points or 1.10% at 21,789.90.

17 Jan 2024, 10:00 AM IST
Sensex Crash Today Live: Nifty Bank and Nifty Financial Services index shed over 2.5% as HDFC Bank tanks after Q3 results

Banking and financial stocks bled out on Wednesday with the Nifty Bank index and the Nifty Financial Services index down over 2.5% each after HDFC Bank announced its December quarter results yesterday. Read more.

17 Jan 2024, 09:45 AM IST
Sensex Crash Today Live: RBI approves appointment of new MD and CEO of DCB Bank 

The RBI has approved the appointment of Praveen Achuthan Kutty as MD & CEO of the bank from 29 April. The stock is currently up more than 1% on the news.

17 Jan 2024, 09:32 AM IST
Sensex Today Live: Top losers on the BSE

17 Jan 2024, 09:27 AM IST
Sensex Today Live: Indices open deep in the red

At open the Sensex was down 755.28 points or 1.03% at 72,373.49, and the Nifty was down 203.50 points or 0.92% at 21,828.80.

17 Jan 2024, 09:26 AM IST
Sensex Today Live: Rahul Kalantri, VP, commodities, Mehta Equities

“Gold and silver experienced another sharp decline in a highly volatile trading session. The dollar index reached one-month highs, surpassing the 103 mark once again, driven by conflicts in the Red Sea and an increase in U.S. bond yields. In addition, U.S. stock markets closed lower due to market risk aversion triggered by weekend Houthi attacks on an oil tanker in the Red Sea.

“The retaliatory air strikes by the U.S. and U.K. in Yemen further intensified the safe-haven demand for the U.S. dollar. The decline in gold and silver prices was exacerbated by China’s decision to keep interest rates unchanged despite lacklustre economic data. However, tensions in the Middle East continue to support the safe-haven demand for precious metals.

“Anticipating continued volatility in today’s session, we note that gold has a support level at $2018-2005, with resistance at $2041-2055. Meanwhile, silver has a support range at $22.72-22.55, and its resistance is positioned at $23.20-23.38.

“In INR, gold finds support at ₹61,880-61,710, with resistance at ₹62,240 and ₹62,410. For silver in INR, the support level is ₹71,500-71,080, while resistance is observed at ₹72,850 and ₹73,480.”

17 Jan 2024, 09:25 AM IST
Sensex Today Live: Top gainers on the BSE

17 Jan 2024, 09:07 AM IST
Sensex Today Live: Rupee opens marginally lower against US dollar

The Indian rupee opened marginally lower at 83.11 per dollar against the previous close of 83.07.

17 Jan 2024, 08:57 AM IST
Sensex Today Live: L&T Technology Services net profit up 6.6% in Q3

The company reported net profit of ₹336.2 crore for the December quarter, up 6.6% from a year ago. Revenue from operations rose 1.5% sequentially to ₹2,421.8 crore.

17 Jan 2024, 08:55 AM IST
Sensex Today Live: Piramal Pharma stock in focus

Piramal Critical Care, a division of Piramal Pharma, announced the launch of a new concentration of zinc sulfate injection in the US market. The launch will allow PCC to expand its existing zinc sulfate injection product line and overall generics injectables portfolio.

17 Jan 2024, 08:17 AM IST
Sensex Today Live: Oil prices fall as stronger dollar offsets Red Sea disruptions risks

Oil prices fell on Wednesday as a stronger US dollar limited demand for dollar-denominated crude, though the rising risks of supply disruptions amid the intensifying conflict in the Red Sea curbed the losses.

17 Jan 2024, 07:51 AM IST
Sensex Today Live: China Q4 GDP slightly misses estimates; grows 5.2%

China’s economy grew 5.2% in the fourth quarter from a year earlier, official data showed on Wednesday, missing analysts’ expectations slightly but still ensuring Beijing met its annual growth target despite a shaky start to the year. 

For the full-year 2023, the economy grew 5.2%, data from the National Bureau of Statistics data showed, partly helped by the previous year’s low-base effect which was marked by covid lockdowns. Analysts had forecast 5.2% growth.

17 Jan 2024, 07:49 AM IST
Sensex Today Live: HDFC Bank clocks 2.5% net-profit growth in Q3

India’s largest private sector lender registered a 2.5% sequential growth in net profit at ₹16,372.54 crore for the December quarter, partly affected by higher bad loan provisions. Net interest income grew by 4% sequentially to ₹28,471 crore during the quarter.

17 Jan 2024, 07:40 AM IST
Sensex Today Live: GIFT Nifty signals negative start

The GIFT Nifty was trading down 171 points or 0.78% at 21,855, signalling a negative start for Dalal Street.

17 Jan 2024, 07:40 AM IST
Sensex Today Live: Asia stocks mixed; attention turns to China data

Benchmarks in South Korea fell while those for Japan opened higher, helped along by a weaker yen. Australian shares were little changed and Hong Kong equity futures fell. Contracts for US equities edged lower in Asia trading.

A raft of top-tier Chinese economic indicators for December, culminating in Q4 and 2023 GDP, takes centre stage in Asia on Wednesday, with global markets under heavy selling pressure from a sharp rise in the dollar and US bond yields.