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Topic :- Share Market Closing Note
Sensex ends 390 pts higher driven by HDFC twins, metals, Nifty above 18,150:
Equity markets extended gains to a second session on Wednesday supported by positive global peers and selected financial and metal stocks.
The BSE Sensex dipped to a low of 60,569 during the day but firmed up to close 390 points higher at 61,046. The top winners that drove maximum gains on the index were Tata Steel, L&T, Wipro, HDFC twins and Bharti Airtel, which ended 1.6-2 per cent higher.
The NSE Nifty ended 112 points higher at 18,165, led by Hindalco, which gained 3 per cent, while Tata Motors, Ultratech Cement, HDFC Life, Adani Enterprises and IndusInd Bank restrained gains on the index and dropped up to 1.6 per cent.
The BSE Midcap and Smallcap indices ended with slimmer gains of 0.5 per cent and 0.2 per cent, respectively. Within sectors, the Nifty metal index closed with most strength, up 1.5 per cent, followed by financials and pharma pockets, while PSB index slumped the most by over 1 per cent.
Among stocks, Adani Enterprises closed 1.5 per cent down. The company has filed papers for its Rs 20,000-cr FPO, which will remain open between Jan 27-31. As per the RHP, it will use Rs 10,900 crore of the total proceeds towards capex in airport and green businesses.
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Topic :- Time:3.15 PM
Just In:
Samsung Electronics spars with India over $110 mn production incentives
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Topic :- Time:3.00 PM
Nifty spot if holds above 18140 level on closing basis then expect some upmove in the market and if it closes below above mentioned level then some sluggish move can follow. Avoid open positions for tomorrow.
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Topic :- Time:2.30 PM
COPPER Trading View:
COPPER is trading at 781.65.It will face immediate resistance at 782. If it holds below 782 then it is likely to decline and if it manages to trade and sustain above 782 level then some quick upmove can be seen in it.
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Topic :- Time:2.20 PM
GoMechanic to reduce workforce by 70%, says co-founder Amit Bhasin
Car workshop and auto spare parts platform, GoMechanic is going to let go of approximately 70% of its workforce. This was announced by co-founder Amit Bhasin in a long LinkedIn post. GoMechanic, which offers everything from mechanics to carwashing services on an app, bills itself as having Indias largest auto service center network. With its funding round in jeopardy, the startup is now facing a cash crunch, the people said.
We made grave errors in judgment as we followed growth at all costs, particularly in regard to financial reporting, which we deeply regret, Bhasin said in a LinkedIn post on Wednesday, without sharing details. We take full responsibility for this current situation and unanimously have decided to restructure the business while we look for capital solutions. This restructuring is going to be painful and we will unfortunately need to let go of approximately 70% of the workforce. In addition, a third party firm will be conducting an audit of the business.
GoMechanic, the Gurugram-based company was founded in 2016 by four friends including Kushal Karwa and Amit Bhasin.
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Topic :- Time:2.00 PM
Nifty spot is trading at 18150.If it manages to trade and sustain above 18180 level then expect some upmove in it and if it breaks and trade below 18120 level then some decline can follow in the market.
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Topic :- Time:1.00 PM
Nifty spot is trading at 18158.If it manages to trade and sustain above 18180 level then expect some upmove in it and if it breaks and trade below 18140 level then some decline can follow in the market.
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Topic :- Time:12.30 PM
SILVER Trading View:
SILVER is trading at 69360. If it manages to trade and sustain above 69420 level then expect some upmove in it and if it breaks and trade below 69300 level then some decline can follow in it.
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Topic :- Time:12.00 PM
Nifty is zooming high. Nifty spot if manages to trade and sustain above 18180 level then expect some upmove and if it breaks and trade below 18140 level then some decline can be seen in the market.
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Topic :- Time:11.30 AM
News Wrap Up:
1. Sensex zooms 350 pts as Tata Steel, HDFC duo lend support
2. Apple gets a boost in India as Chinese suppliers get govt clearance
3. Amazon back as worlds most valued brand, Apple down to No 2: Brand Finance
4. OYO to refile updated draft IPO papers by mid February, as asked by Sebi
5. Social media firms bent rules to favour Trump, finds Jan 6 committee
6. ICICI Lombard slips 6% on disappointing Q3 results
7. From Paytm to Zomato, start-ups see fresh round of selling; stock falls
8. Sebi returns Lava Intls draft IPO papers; asks to refile with updates
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Topic :- Nifty Opening Note
Indian Stock Market Trading View For 18 Jan,2023:
Nifty is likely to turn volatile as the day progresses. Global cues to be eyed.
Nifty spot if manages to trade and sustain above 18080 level then expect some upmove in the market and if it breaks and trade below 18020 level then some decline can be observed in the market.
Please note this is just opening view and should not be considered as the view for the whole day.
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