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Stock Market Live Updates: Sensex drops 455 points, Nifty below 18,150; Mindtree tanks 3%, HDFC 2%

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Watch this space as we bring you LIVE updates of the day’s proceedings from Dalal Street.

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Anchor lock-in period ends for Shriram Properties, RateGain

Price as on 14 Jan, 2022 09:45 AM, Click on company names for their live prices.

Inflation is turning out to be a major worry for markets this year. December PPI inflation in the US has spiked to a record 9.7%. Inflation in the Euro Zone is already at record highs. If inflationary expectations get entrenched, the Fed will have to act early, perhaps in March itself. ECB too is likely to follow suit. Even though such an emerging scenario is unfavorable for equity, markets may not react negatively since the high negative real return from fixed income makes returns from equity attractive. Since retail investors are now a force to reckon with, whether in the US or India, their response to market corrections on rate hike expectations will be crucial. FIIs again moving to sell mode ( Rs 1391 cr selling yesterday) may act as temporary headwind for some large private banking stocks in which FIIs have large holdings. This can turn out to be a buying opportunity for long-term investors.

– Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

Earnings Impact: Mindtree shares tank 5% post Q3 numbers

Price as on 14 Jan, 2022 09:33 AM, Click on company names for their live prices.

BUZZING STOCK: Paytm continues to slide, hits fresh low

Top movers on NSE in opening trade

Price as on 14 Jan, 2022 09:27 AM, Click on company names for their live prices.

Top Sensex drags in opening trade

Sensex drops 455 points, Nifty below 18,150; Mindtree tanks 3%, HDFC 2%

Aurobindo Pharma: Company has received a warning letter from the USFDA for Hyderabad Unit. This action follows the recent inspection of the Unit by the USFDA in August 2021. The Company believes that this will not impact the existing business from this facility.

Price as on 14 Jan, 2022 09:09 AM, Click on company names for their live prices.

Pre-open session: Sensex sheds 150 points, Nifty50 below 18,150

NEWS ALERT: Glenmark Specialty S.A. (Switzerland) receives NDA approval by the US FDA for Ryaltri nasal spray for the treatment of symptoms of seasonal allergic rhinitis in adults and pediatric patients 12 years of age and older

HCL Tech Q3 preview: Up to 20% YoY drop in profit likely

HCL Technologies is likely to report a year-on-year (YoY) double-digit fall in December quarter profit despite a double-digit rise in sales. Analysts expect a sharp fall in Ebitda margins although, they said, the IT major will likely maintain its revenue (constant currency) and Ebit margin guidance for FY22.

SGX Nifty signals a negative start

Nifty futures on the Singapore Exchange traded 38.50 points, or 0.21 per cent, lower at 18,262, signaling that Dalal Street was headed for a negative start on Friday.

Tech View: Nifty50 shows signs of fatigue

Nifty50 on Thursday traded in a narrow 108-point range for another session and closed where it opened, thus forming an indecisive Doji candle on the daily chart. The bulls are showing signs of fatigue and given the overbought situation, it is time for caution, said analysts. Some momentum oscillators are suggesting that the upmove in the short term is stretched and needs a pause.

Dollar heads for weekly loss as longs lose faith

The dollar headed for its largest weekly fall in eight months on Friday as investors trimmed long positions and deemed, for now, that several U.S. rate hikes this year are fully priced in. The dollar index is down about 0.9% for the week, on course for its largest weekly percentage fall since last May and set to halt a rally that has lasted about six months. The index last held at 94.849 in quiet Asia trade.

Hong Kong shares sharply down at open

Hong Kong stocks opened with big losses Friday morning after a number of top Federal Reserve officials pushed for a more hawkish approach to fighting inflation. The Hang Seng Index fell 1.00 percent, or 243.91 points, to 24,185.86. The Shanghai Composite Index eased 0.31 percent, or 11.19 points, to 3,544.07.

Tokyo shares open lower after US losses

Tokyo shares opened lower on Friday after US tech shares dived on expectations of higher interest rates. The benchmark Nikkei 225 index dropped 1.48 percent or 421.69 points to 28,067.44 in early trade, while the broader Topix index lost 1.36 percent or 27.33 points to 1,978.25.

US stocks fall as Fed speakers put rate hikes in focus

Wall Street’s major indices closed lower on Thursday with Nasdaq’s 2.5% drop leading the losses, while multiple Federal Reserve officials were out talking about inflation and interest rate hikes. The Dow Jones Industrial Average fell 176.7 points, or 0.49%, to 36,113.62, the S&P 500 lost 67.32 points, or 1.42%, to 4,659.03 and the Nasdaq Composite dropped 381.58 points to 14,806.81.

Rupee rises for 5th day against dollar

Strengthening for the fifth straight session, the rupee climbed 3 paise to close at 73.90 against the US dollar on Thursday, tracking a weak greenback overseas. At the interbank forex market, the rupee opened at 73.91 against the greenback and witnessed an intra-day high of 73.84 and a low of 73.97. It finally settled at 73.90, a rise of 3 paise over its previous close.

Sensex, Nifty on Thursday

Equity indices ticked higher for the fifth session on the trot on Thursday as largely positive Q3 results from IT majors enthused investors, though lacklustre macroeconomic data capped the gains. After a choppy session, the 30-share BSE Sensex ended 85.26 points or 0.14 per cent higher at 61,235.30. Similarly, the NSE Nifty advanced 45.45 points or 0.25 per cent to 18,257.80.

Good morning, dear reader! Here’s something to kickstart your trading day