MARKETS: Sensex down 850 pts, Nifty below 17,300; Metals, PSBs outperform

Markets at 12 noon LIVE market updates: The frontline indices extended losses and were at day’s low in noon deals, down 1.4 per cent each. The BSE Sensex was 814 points down at 57,830 while the NSE Nifty was lower by 250 points at 17,266. On the Sensex, L&T was the top loser now, down 2.6 per cent, followed by HDFC Bank, Bajaj Twins, Dr Reddy’s and Infosys. SBI, Tata Steel PowerGrid, NTPC, Tech M and Reliance were the only six gainers on the Sensex. Meanwhile, the Nifty50 index had only 10 stocks in the green. ALSO READ: SBI, Tata Steel, IndiGo: Key levels to watch on these stocks post Q3 nos In the broader markets, the BSE MidCap and SmallCap indices were trading 0.9 and 0.6 per cent lower, respectively. In the primary market, the IPO of Vedant Fashions was still slow-paced and had been subscribed 17 per cent so far on day 2, witht the retail portion subscribed 27 per cent. Among stocks, Lupin dipped 6 per cent to Rs 816.25, falling 9 per cent in the past two trading sessions after the drugmaker reported lower-than-expected margins and net profit in December quarter (Q3FY22) due to one-time expenses related to residual metformin returns and provision for aged stock returns of Oseltamivir. READ MORE. BS SPECIAL Foreign brokerages remain divided on the road ahead for Paytm’s stock and the performance of the company in the backdrop of recently announced results for the quarter ended December 2021 (Q3-FY22). READ HERE TO KNOW MORE.

Asian markets update Shares in Asia were mixed in Monday trade, with mainland China markets rising as they re-opened following the Lunar New Year holidays last week. In noon trade, the Shanghai composite jumped 2.06 per cent, while the Shenzhen component gained 1 per cent. On the other hand, Hong Kong’s Hang Seng index slipped 0.33 per cent. In Japan, the Nikkei 225 dipped 0.76 per cent and the Topix index declined 0.27 per cent. South Korea’s Kospi also shed 0.43 per cent.

___________________________________________________________________________ Markets at 11 AM LIVE market updates: The headline indices extended losses in morning trade led by selling in private bank majors–HDFC Bank and ICICI Bank (down 2 and 1.6 per cent, respectively) and other select counters including Infosys, L&T, HDFC and Bajaj Finance. The BSE Sensex was 595 points lower at 58,049 and the NSE Nifty was at 17,331, down by185 points. The two indices were 1 per cent lower each. In line with this, the broader markets were also in the red zone with the BSE MidCap index trading 0.97 per cent lower and the SmallCap index 0.67 per cent down. Among sectors, BSE Auto, Private Banks, Healthcare, Finance and Realty indices were the top losers, down 1 per cent each. On the upside, PSU index and Metals were the top outliers. The BSE PSU index gained over a per cent supported by strong gains in SBI and Bank of Baroda on the back of their healthy Q3 performance. READ HERE to know what analysts have to say about the two banking majors and the road ahead. Bank of Baroda was up over 8 per cent as its net profit doubled to Rs 2,197 crore in the December quarter (Q3FY22), aided by higher net interest income and lower provisions. SBI, too, was the top Sensex gainer, up nearly 3 per cent as its PAT rose 62 per cent to Rs 8,431.9 crore, beating estimates, for the quarter. Further, shares of Gujarat Narmada Valley Fertilizers & Chemicals Limited (GNFC) hit a 52-week high at Rs 523.25, on rallying 15 per cent on the National Stock Exchange (NSE) in an otherwise subdued market after the company reported best ever quarterly performance in the December quarter (Q3FY22). READ MORE. ___________________________________________________________________________ Markets at 10 AM LIVE market updates: The benchmark indices were extending losses amid high volatility and were down 0.5 per cent each. The BSE Sensex was at 58,343, down 300 points, while the NSE Nifty was lower by 90 points at 17,426. Among top gainers on the Sensex, SBI, PowerGrid, Tata Steel, NTPC, Reliance, Tech M and Bajaj Finserv were the only stocks in the green zone, up between 0.8-2 per cent. Bajaj Finance, M&M, Dr Reddy’s, L&T, Bharti Airtel, Infosys, Asian Paints, HDFC twins, Wipro and ITC were the top laggrads, down 1-2 per cent. On the Nifty, Hero MotoCorp, Bajaj Auto, Divis Labs, Cipla and Eicher Motors were the additional losers. This apart, BSE Auto index was down over 1 per cent and was a prominent loser sectorally. Among stocks, airline company InterGlobe Aviation was trading 7 per cent higher on the BSE after its strong Q3 results. It reported a net profit of Rs 129.80 crore for the December quarter as against a loss of Rs 620.10 crore in the year-ago quarter. Revenue from operations came in at Rs 9,294.80 crore, a rise of 89.3 per cent over the same period last year. Further, shares of pharma company FDC surged 8 per cent to Rs 319 on the BSE after the company said that its board will meet on February 9, 2022 to consider the proposal for buyback of equity shares of the company through tender offer route.READ MORE. ____________________________________________________________________________ Opening Bell

LIVE market updates: The key benchmark indices started trade on a flattish note extending weakness from the previous session.

The BSE Sensex was down 6 points at 58,638, while the NSE Nifty was at 17,513, lower by 3 points.

Among the Sensex-30 shares, Dr Reddy’s, M&M, SBI, Titan, Nestle, Axis Bank, Sun Pharma, Reliance Industries and Tech Mahindra were the top gainers. Infosys, Kotak Bank, HDFC Bank, IndusInd Bank, Tata Steel, HCL Tech, HDFC, L&T and TCS were the top losers, down 0.4-1 per cent.

In the broader markets, the BSE MidCap and SmallCap indices were, however, in the positive territory, up 0.2 and 0.4 per cent, respectively. Sectorally, the BSE IT and Private Bank indices were the most weak, down up to 0.4 per cent. Similarly, BSE Bankex and Finance indices were also in the red zone. On the other hand, the BSE Realty and healthcare indices were the top gainers, up 1 per cent and 0.6 per cent, respectively. Dr Reddy’s Labs was trading over 5 per cent higher after the Drugs Controller General of India (DCGI) granted approval to the single-shot Sputnik Light vaccine for restricted use in emergency situation in India.

_________________________________________________________________________ Pre-open session LIVE market updates: The benchmark indices were holding marginal losses in the pre-open trades. The BSE Sensex was down 89 points at 58,556, while the NSE Nifty was at 17,456, lower by 60 points. _______________________________________________________________________ LIVE market updates: The key benchmark indices are likely to start trade lower on Monday amid weak global cues as US bond yields surged on Friday after a strong jobs data heightened fear of tightening of monetary policy. At 8:10 am, the SGX Nifty futures were quoting 17,424 level, that is nearly 100 points lower from Nifty’s spot close in the previous session. This week, IIP data and RBI Monetary policy are important events that market particpants will watch out for amid concerns of rising inflation and possibility of hikes in key policy rates. Today, banking stocks may see action on the back of moves in SBI, Bank of Baroda, City Union Bank as the three reported their Q3 earnings over the weekend. Further, Nalco, PolicyBazaar, Tarsons Products, TVS Motor Company and Union Bank of India are scheduled to announce its Q3 earnings today. READ MORE.

In the primary market, the IPO of Vedant Fashions had been subscribed 14 per cent on day 1, with the retail investor portion subscription standing at 22 per cent. The issue will close on Tuesday. Global cues

The US stocks ended mixed higher, but pared gains towards the close on Friday. Nasdaq was up 1.6 per cent led by Amazon. The S&P 500 gained 0.5 per cent, while the Dow Jones slipped 0.1 per cent.

This morning major markets exhibited a mixed trend. China’s Shanghai Composite soared 1.9 per cent. Taiwan and Straits Times were up 0.5 per cent and 0.4 per cent, respectively. Whereas, the Kospi Composite slipped over 1 per cent. Nikkei and Hang Seng were down 0.7 per cent and 0.4 per cent, respectively.

Oil prices were up near seven-year highs amid concerns about supply due to the ongoing political turmoil among major world producers. Brent saw a 2.4 per cent rise to $93.27 a barrel.