Market LIVE: Sensex, Nifty off day’s low; Axis Bank jumps, Asian Paints tanks

Sensex rebound

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Markets opening view: Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments

In the short term, 16950 is the last resort of support for this market. If that breaks on a closing basis, we might plummet further to 16500-16550. On the upside, the resistance level is at 17400-17500. Traders can utilize upward corrections to sell this market.

Axis Bank up 4%

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Most active stocks on the Nifty

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22 of 30 Sensex stocks in the red

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Nifty below 17,000-mark at open

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Sensex drops 800 pts, Nifty under 17k at open amid weak market cues

Markets in pre-open

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Nifty in pre-open

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Axis Bank Q3 results

Private lender Axis Bank on Monday reported a 224% year-on-year (YoY) rise in standalone net profit at ₹3,614 crore for the December quarter (Q3FY22) compared with a profit of ₹1,116.6 crore in the corresponding quarter last year. On a quarter-on-quarter (QoQ) basis, Axis Bank’s profit registered a 15% growth. The private sector lender’s net interest income rose 17% over a year ago to ₹8,653 crore. Other income stood at ₹3,840 crore, up 31% YoY. The bank’s retail loans grew 18% YoY and 6% QOQ to ₹3,67,494 crore and accounted for 55% of the net advances. 

Stocks to Watch: Maruti, Axis Bank, Vodafone Idea, IEX, Deepak Nitrite

Here is the list of the top 10 stocks that are likely to be in focus on Tuesday.

Bitcoin rises marginally while ether, dogecoin, Solana, other crypto prices today continue to plunge

Bitcoin gained after tumbling to its lowest level in six months in the previous sessions. The largest cryptocurrency was marginally higher at $36,013 after earlier dropping to $32,951, its lowest price since July 23. That took losses from its all-time high of $69,000 hit in November past 50%. Bitcoin is down over 21% in 2022 (year-to-date) so far.

Check crypto prices here.

Japan’s Nikkei at 5-month low as U.S. rate-hike bets, Ukraine tensions weigh

Japan’s Nikkei index touched a five-month low on Tuesday, weighed down by investor caution over the situation in Ukraine and a potential faster-than-expected U.S. rate hike ahead of the Federal Reserve policy meeting due later in the day.

By 0213 GMT, the Nikkei share average fell 1.9% to 27,061.36, after dropping as much as 2.1% to 27,006.37, its lowest since Aug. 20. The broader Topix lost 2.02% to 1,891.00.

Wall Street bounced back from a steep sell-off to close higher overnight, with bargain hunters pushing the indexes into a positive territory.

Rupee slumps to 3-week low against US dollar on geo-political worries

The rupee on Monday slumped by 17 paise to close at a more than three-week low of 74.60 against the US dollar due to high crude oil prices, forex outflows and heavy losses in domestic equities amid growing geopolitical worries. Forex traders said the strength of the American currency in the overseas market and weak appetite for riskier assets also dragged down the local unit. Moreover, market participants are now eyeing the US Fed’s January 25-26 meeting for further cues.

Nalco continues to be under F&O ban; Vodafone Idea out

PSU metal Nalco and auto stock continue to be among two stocks that have been put under the ban for trade on Tuesday, January 25, 2022 under the futures and options (F&O) segment by the National Stock Exchange (NSE). These securities have been put on ban under the F&O segment as they have crossed 95% of the market-wide position limit (MWPL), as per the NSE.

On the other hand, Vodafone Idea, Indiabulls Housing Finance, and Bharat Heavy Electricals Limited (BHEL) that were was part of the list in the previous sessions, are out of the list of F&O stock ban for today by the stock exchange.

Day trading guide for Tuesday

4 stocks to buy or sell today — 25th January

Oil Rebounds From Tumble as Traders Focus on Demand Outlook

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