Indian equity market lost three per cent for the second straight week in tandem with global selloff after the US Federal Reserve signalled policy tightening from March.
The benchmark BSE Sensex tumbled 1,836.95 points, or 3.11 per cent, to 57,200 on January 28 against 59037.18 on January 21. Likewise, the 50-share NSE Nifty index retreated 515.20 points, or nearly 3 per cent, to 17,101.95 during the same period.
Here’s a look at the updates of the market action on BSE and NSE today.
10:30 am: AGS Transact Technologies makes flat market debut, stock lists at Rs 176
Payments solutions provider AGS Transact Technologies made a flat market debut today. Shares of AGS Transact Technologies listed at Rs 176 on BSE compared to the issue price of Rs 175. The company offered its shares in a price band of Rs 166-175. This is the first stock market listing of 2022.
The market cap of the firm stood at Rs 2,118 crore. Total 0.51 lakh shares of the firm changed hands amounting to a turnover of Rs 88.90 crore on BSE.
10:15 am: Market check
The benchmark indices were trading sharply higher on Monday. Sensex zoomed over 800 points to 58,048 and Nifty jumped 250 points to 17,353.
9:25 am: Parliament session to begin from today; Economic Survey to be out
The Budget Session of the Parliament will begin from today with the address by President Ram Nath Kovind to the Lok Sabha and the Rajya Sabha in the Central Hall. The President will address both the Houses today at 11 am.
The Lok Sabha will sit for business half an hour after the President’s Address. The Economic Survey 2021-22 will be tabled by Finance Minister Nirmala Sitharaman in the Lok Sabha today, and she will present the Budget 2022 on February 1 at 11 am.
9:16 am: Market Opening
Indian benchmark indices opened sharply higher on Monday. At 09:16 hours, the 30-share BSE index was trading 645 points higher at 57,845.91, and the broader NSE Nifty was up 199 points to 17,301.05.
Wipro was the top gainer in the Sensex pack, advancing over 3 per cent, followed by IndusInd Bank, Infosys, Tata Steel, Bajaj Finserv and Tech Mahindra.
L&T was the only loser on Sensex.
9:00 am: Earnings today
Shares of Sun Pharma, Tata Motors, Indian Oil Corporation, DLF, Bharat Petroleum, UPL, Hindustan Petroleum, Vinati Organics, Navin Flourine International, Ajanta Pharma, KPIT Technologies, UCO Bank, Exide Industries, KEC International and Poly Medicure will be in focus as these firms will announce their Q3 earnings today.
8:45 am: Global updates
Wall Street surged on Friday, notching its best day so far in 2022 after another zigzag session, ending a tumultuous week marked by mixed corporate earnings, geopolitical turmoil and an increasingly aggressive Federal Reserve.
The Dow Jones Industrial Average rose 564.69 points, or 1.65%, to 34,725.47, the S&P 500 gained 105.34 points, or 2.43%, to 4,431.85 and the Nasdaq Composite added 417.79 points, or 3.13%, to 13,770.57.
In Asia, Nikkei Weighted index was up 0.99 per cent and Hang Seng was trading 0.80 per cent higher. Shanghai Composite was down 0.97 per cent.
8:40 am: Rupee closes almost flat at 75.07
The rupee snapped its three-day losing streak to close 2 paise higher at 75.07 against the U.S. dollar on Friday amid expectation of better dollar inflows from upcoming IPOs.
However, the rebound in the rupee was restricted amid weakness in domestic equities, analysts said.
8:35 am: FII and DII action
Foreign institutional investors (FIIs) sold shares worth Rs 5,045.34 crore on January 28, and domestic institutional investors (DIIs) bought shares worth Rs 3,358.67 crore, as per provisional data available on NSE.
Overseas investors withdrew a whopping Rs 28,243 crore from Indian equities in the month of January so far as the US Federal Reserve indicated towards an interest rate hike.
The foreign portfolio investors (FPIs) pulled out Rs 28,243 crore from equities between January 3-28, according to the depositories data.
8:30 am: SGX Nifty
The Indian equity market is likely to open on a positive note as SGX Nifty was up 149.25 points to 17,266.80 at 8:30 am.
Singapore Nifty (SGX Nifty) is the Indian Nifty index that is traded in the Singapore Stock Exchange and is considered to be the first indication of the opening of the Indian market.
8:15 am: Market on Friday
Benchmark indices ended lower after trading with massive gains during the majority of session on Friday. Sensex crashed 884 points from the day’s peak to close Friday’s highly volatile session 77 points lower at 57,200. The late sell-off was triggered mainly in banking and auto shares.