Stock Market Live: Nykaa Share Price Jumps 

Nykaa parent FSN E-Ventures Ltd. share price jumped 5% in early trade on Monday after it released its quarterly business update.

The company reported revenue growth higher than mid-twenties in the December quarter. Beauty vertical growth has accelerated compared to previous quarters while eB2B continues to witness rapid expansion.

Fashion vertical is expected to deliver revenue growth of around 20%. Online fashion demand continues to subdued but remain optimistic about long-term growth opportunity.

Rupee Hits Fresh Low Against US Dollar 

The rupee declined 4 paise to a record low of 85.82 against the US Dollar. The local currency opened flat at 85.77 a dollar Monday. It closed at 85.78 a dollar on Friday.

Internationally, the dollar index was marginally below 109.

Source: Bloomberg

Stoock Market Live: ITC Share Price Down

ITC Ltd. share price settled Rs 26 lower, or 5.4%, from Friday’s close of Rs 481.6 during the special pre-open session. The stock traded at Rs 455.6 on the NSE.

On the BSE, the discount to the previous close is Rs 27. The scrip was quoting Rs 455.

The stock has adjusted on the record date that will determine the eligible shareholders who will receive shares in ITC Hotels Ltd., the newly separated entity.

Investors should note that the price of ITC shares will adjust to reflect the intrinsic value of ITC Hotels, and the shares of ITC Hotels will be credited to the demat accounts of eligible shareholders after this date.

Since the shares of ITC Hotels are yet to be transferred to eligible ITC shareholders and exchanges’ permission is pending, the ITC Hotel stock will remain in benchmark indices Nifty 50 and BSE Sensex as a dormant stock.

ITC shares will continue to trade in the normal market after adjusting for the demerger of the hotels business arm.

Read story here.

Stock Market Live: DCX Systems Share Price Jumps

DCX Systems Ltd. share price jumped 6.53% to Rs 393 apiece, the highest since July 3. This comes after the company secured a major export order worth Rs 483 crore from Israel’s Elta Systems.

Stock Market Live: EaseMyTrip’s Nishat Pitti Says No More Promoter Selling

EaseMyTrip Chairman Nishat Pitti, who stepped down as CEO, told NDTV Profit there will be no further promoter selling in the company after he divested a 1.4% stake for Rs 78.32 crore through an open market transaction last week.

Retaining his post of chairman, Pitti said he will be looking after international business expansion.

The company’s board of directors approved the appointment of Rikant Pitti, the company’s CFO and Nishant’s brother, as the new CEO with immediate effect.

He also said the company will meet domestic institutional investors and mutual funds after the December quarter results are out.

Stock Market Live: Bank Stocks Decline

Bank stocks took a beating on Monday as the markets reacted to quarterly business updates of major lenders.

Bank of Baroda, Punjab National Bank, Canara Bank and Kotak Mahindra Bank shares traded lower.

The Nifty Bank declined 0.2% in early trade to trade below 51,000. Nine of the 12 constituent stocks fell.

Axis Bank, ICICI Bank and HDFC Bank were the only ones trading in green.

Stock Market Live: Nifty, Sensex Open Higher

The NSE Nifty 50 and BSE Sensex open higher at market open on Monday, led by Bajaj Finance Ltd. and Bajaj Finserve Ltd. Kotak Mahindra Bank saw declined.

The 50-share Nifty index opened 0.17% higher at 24,045.8. The 30-share BSE Sensex started 0.07% up at 79,281.

Stock Market Live: Rupee Sees Muted Open

  • Rupee opens flat against US dollar.

  • The domestic unit opened at 85.77 against the US dollar.

  • It closed at 85.78 on Friday.

Source: Bloomberg

Stocks To Buy Today: Britannia, Tata Motors And More

Osho Krishan of Angel One, Vaishali Parekh of Prabhudas Lilladher, Aditya Agarwala of Invest4edu; and Sudeep Shah of SBICAP Securities share their buy calls, which can deliver upside of up to 7%.

Read the analyst calls and trading tips here.

Stock Market Live: ITC Shares To Be Top Focus 

ITC Ltd.’s share price will be in focus on Monday as the stock adjusts on the record date that will determine the eligible shareholders who will receive shares in ITC Hotels Ltd., the newly separated entity.

A special trading session will take place between 9:00 a.m. and 10:00 a.m. to determine the share price of ITC, after the adjustment for the demerger. Investors should note that the price of ITC shares will adjust to reflect the intrinsic value of ITC Hotels, and the shares of ITC Hotels will be credited to the demat accounts of eligible shareholders after this date.

Since the shares of ITC Hotels are yet to be transferred to eligible ITC shareholders and exchanges’ permission is pending, the ITC Hotel stock will remain in benchmark indices Nifty 50 and BSE Sensex as a dormant stock.

ITC shares will continue to trade in the normal market after adjusting for the demerger of the hotels business arm.

Read story here.

Stock Market Live: Standard Glass Lining Technology IPO Open Today

Standard Glass Lining Technology IPO will will offer shares for bidding on Monday. The price band is set from Rs 133 to Rs 140 per share. The Rs 410.05-crore IPO issue is a combination of a fresh issue of Rs 210 crore and rest offer for sale.

Stocks To Watch Today: ITC, HDFC Bank, Vedanta, Dabur

ITC Ltd. will be in focus as the ex-date and record date for demerger its hospitality arm is on Monday. A slew of banks and FMCG companies that released their quarterly business updates including HDFC Bank Ltd., Bank of Baroda, Dabur India Ltd. and Marico Ltd. are also on investors radar in today’s trade.

NTPC Green Energy Ltd. and DCX Systems Ltd. announced major order wins.

Read full list of stocks to watch here.

Stock Market Live: F&O Cues

The Nifty January futures were down by 0.86% to 24,092 at a premium of 88 points, with the open interest down by 1.48% on Friday.

The open interest distribution for the Nifty 50 Jan. 9 expiry series indicated most activity at 26,500 call strikes, with the 21,850 put strikes having maximum open interest.

Stock Market Live: Nifty May Test 24,650 On Breakout Above 24,130

The NSE Nifty 50 continues to display resilience with immediate support at 23,900 and resistance at 24,130. Analysts suggest a breakout above 24,130 could propel the index toward 24,650, while a dip below 23,900 might lead to 23,650.

“Technically, on the daily chart, the Nifty formed a red candle, indicating profit booking, while on the weekly chart, it formed a green candle, indicating overall strength,” Hrishikesh Yedve, research analyst at Asit C. Mehta Investment Interrmediates Ltd., said. “The index continues to hold above the 200-day simple moving average, which is currently placed near 23,900.”

It remains above the breakout zone of the short-term consolidation range 23,500–23,900. As long as the index maintains above 23,900, a buy-on-dips strategy is recommended for Nifty. according to Yedve.

Read Monday’s trade setup.

India Macro Data Today: HSBC Flash PMI

Today, the only macro data to be released is HSBC Flash India Composite Output Index—a seasonally adjusted index to measure combined manufacturing and services output. The reading will be for the month of December.

In November, the index rose to to 59.5, from a final reading of 59.1 in October.

Currency Check: Dollar Index Below 109

The US Dollar index that tracks the performance of the greenback against a basket of currencies dipped below 109.

  • The Bloomberg Dollar Spot Index down 108.9

  • The euro up 0.05% to $1.0313

  • The British pound up 0.1% to $1.2437

  • The Japanese yen down 0.2% to 157.61 per dollar

Asia Market Update: Nikkei Up, Kospi Down

Japan’s benchmark Nikkei 225 index dipped 0.75% to 39,557 in its first session after a prolonged holiday.

South Korea’s Kospi was trading near 2,450, up 0.26%.

China’s Shanghai Composite plunged 0.5% to 3,195 while the broader CSI 1000 was up 0.16% at 5,634.

In Australia, shares climbed as much as 0.4%.

Read story here.

US Market Update: S&P 500, Dow Jones Futures Little Changed After Friday Recovery  

US stocks on Friday recovered after a five-day losing streak, buoyed by renewed interest in major tech stocks.

The S&P 500 finished 1.26% higher at 5,942.5, while the Nasdaq Composite advanced 1.77% to 19,621.68. The Dow Jones also increased by 0.8%, closing at 42,732.13.

Early Monday, US futures were little changed. S&P 500 contracts are down 0.1% at 5,983.75, while those for Dow Jones down 0.1% at 42,979. Nasdaq futures were trading 0.14% lower at 21,486.5.

The dollar showed mixed results against major currencies, with the yen retreating slightly from its late-week gains, trading around 157 per dollar. The US Dollar Index stood at 109.01.

Read story here.

GIFT Nifty Near 24,100; ITC, Dabur, HDFC Bank, RVNL, Vedanta Share Prices In Focus

The GIFT Nifty was trading near 24,100. ITC Ltd., Dabur India Ltd. HDFC Bank Ltd., Rail Vikash Nigam Ltd., and Vedanta Ltd. share prices are likely to react in Monday’s session.

The GIFT Nifty was trading 0.07% or 17.50 points higher at 24,103.50 as of 6:40 a.m.

The NSE Nifty 50 and BSE Sensex snapped a two-day winning streak on Friday as private bank stocks declined. ICICI Bank Ltd. and HDFC Bank Ltd. share prices dragged the Nifty 50 the most. However, the benchmarks rose for the second consecutive week.

The Nifty 50 ended 199.60 points, or 0.83%, down at 23,989.05, and the Sensex ended 784.00 points, or 0.98%, down at 79,159.71.

. Read more on Markets by NDTV Profit.Bank stocks took a beating on Monday as the markets reacted to quarterly business updates of major lenders. Bank of Baroda, Punjab National Bank, Canara Bank and Kotak Mahindra Bank shares are down.  Read MoreMarkets, Business, Notifications 

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