Stock Market HIGHLIGHTS: Nifty, Sensex end December Series on strong note helped by Bharti Airtel, SBI
Stock Market HIGHLIGHTS: Bulls helped Indian frontline indices S&P BSE Sensex and NSE Nifty50 to claw back in the green in the final hour of trading. Sensex ended at 61,133.88, up 223.60 points or 0.37 per cent while broader market Nifty50 closed at 18,191, up 68 points or 0.38 per cent. Banking gauge Nifty Bank finished 424 points or 0.99 per cent higher at 43,252.35.
Key takeaways from day's action:
1) Nifty traded in 237 point range while Sensex in 730 points. Both benchmarks opened in the red and traded in a narrow range for most part of the trading session. Bulls clawed back in the final hour to give a positive closing, breaking a two-day losing streak. Market breadth improved towards the end as buying resumed. The recovery was led by Bharti Airtel and State Bank of India (SBI) shares.
2) In the 50-stock Nifty, 33 advanced. The top gainers were Bharti Airtel, Eicher Motors, SBI, Tata Steel and Axis Bank while top losers were Apollo Hospitals, Tata Motors, Titan, Divi's Laboratories and Ultratech Cement Company.
3) Out of 15 Nifty sectoral indices, 5 ended in the green. The top gainers were Nifty Metal (+0.67 per cent) banks and selected large cap IT stocks like HCL Tech, Wipro and Infosys. The worst performing indices were Nifty FMCG, Nifty Realty and Nifty Pharma.
4) There was stock specific action in broader markets. In the 100-stock Nifty Mid Cap 100, 56 advanced, 42 advanced and 2 remained unchanged. The top gainers were Adani Wilmar, Max Healthcare and Federal Bank while the top losers were Shriram Finance, Page Industries and Ramco Cements. In the 100-stock Small Cap Index, 41 advanced, 57 declined and 2 remained unchanged. The top gainers were Aeigis Logistics, KEC International ad Indiabulls Housing Finance while the top losers were Amara Raja Batteries, Easy Trip and UTI AMC.
5) India VIX, a measure of volatility in Nifty ended 1.39 per cent down at 15.18.
6) KFin Technologies stock was listed today at a premium of Re 1 per share on the NSE. The IPO was launched at an issue price of Rs 366 to raise Rs 1500 crore. The stock closed at Rs 364.40 and was down by Rs 1.60. It traded in the green briefly on the intraday basis. The issue was subscribed 2.59 times.
7) Out of 3,628 stocks that traded on BSE, advances were seen in 1,872 scrips while declines in 1,607. 149 stocks remained unchanged. 77 stocks hit their 52-week highs while 44 hit their 52-week lows.
8) Singapore-based SGX Nifty recovered early losses and was trading positive. It was up by 88 points or 0.49 per cent at 18,280. Dow Futures were trading at 32,925.50, up 49 points or 0.15 per cent.
9) Asian frontline indices Nikkei 225 and Shanghai Composite ended with losses on Thursday. While the former ended down nearly 250 points or 1 per cent at 26,093.70, the latter finished at 3073.70, down 13 points or 0.44 per cent.
10) The rupee consolidated in a narrow range and settled 2 paise lower at 82.82 (provisional) against the US dollar on Thursday, PTI reported. Dollar Index was steady while Asian currencies including IDR which had weakened in the morning had all gained by the end of the day, Anil Kumar Bhansali, Head of Treasury at Finrex Treasury Advisors LLP said. "Premiums continued to fall as RBI seemed to be absent from forward market. 1 year was trading at 2.05%. Expected range for tomorrow when we may expect to see some inflows is 82.50 to 83.00," Bhansali said.
11) Bullion also traded lacklustre around the time of filing this report. MCX February Gold futures were trading at Rs 54744 per 10 gram and were down by Rs 17 or 0.03 per cent. Meanwhile, March Silver futures were trading at Rs 68950 per kg, down by Rs 63 or 0.09 per cent.
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Stock Market HIGHLIGHTS: Bulls helped Indian frontline indices S&P BSE Sensex and NSE Nifty50 to claw back in the green in the final hour of trading. Sensex ended at 61,133.88, up 223.60 points or 0.37 per cent while broader market Nifty50 closed at 18,191, up 68 points or 0.38 per cent. Banking gauge Nifty Bank finished 424 points or 0.99 per cent higher at 43,252.35.
Key takeaways from day's action:
1) Nifty traded in 237 point range while Sensex in 730 points. Both benchmarks opened in the red and traded in a narrow range for most part of the trading session. Bulls clawed back in the final hour to give a positive closing, breaking a two-day losing streak. Market breadth improved towards the end as buying resumed. The recovery was led by Bharti Airtel and State Bank of India (SBI) shares.
2) In the 50-stock Nifty, 33 advanced. The top gainers were Bharti Airtel, Eicher Motors, SBI, Tata Steel and Axis Bank while top losers were Apollo Hospitals, Tata Motors, Titan, Divi's Laboratories and Ultratech Cement Company.
3) Out of 15 Nifty sectoral indices, 5 ended in the green. The top gainers were Nifty Metal (+0.67 per cent) banks and selected large cap IT stocks like HCL Tech, Wipro and Infosys. The worst performing indices were Nifty FMCG, Nifty Realty and Nifty Pharma.
4) There was stock specific action in broader markets. In the 100-stock Nifty Mid Cap 100, 56 advanced, 42 advanced and 2 remained unchanged. The top gainers were Adani Wilmar, Max Healthcare and Federal Bank while the top losers were Shriram Finance, Page Industries and Ramco Cements. In the 100-stock Small Cap Index, 41 advanced, 57 declined and 2 remained unchanged. The top gainers were Aeigis Logistics, KEC International ad Indiabulls Housing Finance while the top losers were Amara Raja Batteries, Easy Trip and UTI AMC.
5) India VIX, a measure of volatility in Nifty ended 1.39 per cent down at 15.18.
6) KFin Technologies stock was listed today at a premium of Re 1 per share on the NSE. The IPO was launched at an issue price of Rs 366 to raise Rs 1500 crore. The stock closed at Rs 364.40 and was down by Rs 1.60. It traded in the green briefly on the intraday basis. The issue was subscribed 2.59 times.
7) Out of 3,628 stocks that traded on BSE, advances were seen in 1,872 scrips while declines in 1,607. 149 stocks remained unchanged. 77 stocks hit their 52-week highs while 44 hit their 52-week lows.
8) Singapore-based SGX Nifty recovered early losses and was trading positive. It was up by 88 points or 0.49 per cent at 18,280. Dow Futures were trading at 32,925.50, up 49 points or 0.15 per cent.
9) Asian frontline indices Nikkei 225 and Shanghai Composite ended with losses on Thursday. While the former ended down nearly 250 points or 1 per cent at 26,093.70, the latter finished at 3073.70, down 13 points or 0.44 per cent.
10) The rupee consolidated in a narrow range and settled 2 paise lower at 82.82 (provisional) against the US dollar on Thursday, PTI reported. Dollar Index was steady while Asian currencies including IDR which had weakened in the morning had all gained by the end of the day, Anil Kumar Bhansali, Head of Treasury at Finrex Treasury Advisors LLP said. "Premiums continued to fall as RBI seemed to be absent from forward market. 1 year was trading at 2.05%. Expected range for tomorrow when we may expect to see some inflows is 82.50 to 83.00," Bhansali said.
11) Bullion also traded lacklustre around the time of filing this report. MCX February Gold futures were trading at Rs 54744 per 10 gram and were down by Rs 17 or 0.03 per cent. Meanwhile, March Silver futures were trading at Rs 68950 per kg, down by Rs 63 or 0.09 per cent.
Catch all the Updates of the stock markets here. For all other news related to business, politics, sports, tech, auto and more, visit Zeebiz.com.
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Technical analyst Nilesh Jain said that the view is positive on the overall PSU Bank segment, adding that the upside will continue in the SBI stock in the January 2023 series as well.
While banking and financial services stocks were witnessing selling pressure on Thursday, this index heavyweight was a silver lining. It was the top gainer on Nifty50 on the intraday basis and was trading at Rs 606 on the NSE, up by Rs 6.60 or 1.10 per cent.
Jain, who is Assistant Vice President - Lead Derivative and Technical Research at Centrum Broking, recommended buying SBI shares for targets of Rs 630 and Rs 650, estimating a 7 per cent upside from current levels. The support, he said, is at Rs 585.
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Source: Comex
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Asian frontline indices Nikkei 225 and Shanghai Composite ended with losses on Thursday. While the former ended down nearly 250 points or 1 per cent at 26,093.70, the latter finished at 3073.70, down 13 points or 0.44 per cent.
Source: Comex
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