Stock Market HIGHLIGHTS: Sensex, Nifty end flat as Reliance plays spoilsport; Hindalco, Tata Steel top gainers
Stock Markets HIGHLIGHTS: Indian stock markets traded in a range on Monday with frontline indices ending flat. The 30-stock S&P BSE Sensex closed at 62,834.60, down 33.9 points or 0.05 per cent while NSE Nifty50 managed a positive closing at 18,701.05, up 5 points or 0.03 per cent. Banking gauge Nifty Bank settled positive at 43,332.95, up 229.20 points 0.53 per cent
Stock Markets HIGHLIGHTS: Indian stock markets traded in a range on Monday with frontline indices ending flat. The 30-stock S&P BSE Sensex closed at 62,834.60, down 33.9 points or 0.05 per cent while NSE Nifty50 managed a positive closing at 18,701.05, up 5 points or 0.03 per cent. Banking gauge Nifty Bank settled positive at 43,332.95, up 229.20 points 0.53 per cent.
Here are key takeaways from the day's action:
1) In the 50-stock index, 27 advanced while 23 declined. Among top gainers were metal stocks led by Hindalco Industries, JSW Steel and Tata Steel. UPL and ONGC were also other gainers on the 50-stock Nifty50 index. Among the top losers were Tata Motors, Apollo Hospitals, Reliance Industries, Britannia Industries and Tech Mahindra. Reliance was the biggest laggard and accounted for a lion share towards the fall of benchmark indices.
2) Out of 15 Nifty sectoral indices, 7 gained against 8 declines. Metal shares gained owing to the weakness in Dollar Index which has slipped below 105 against the basket of six major currencies. Nifty Metal Index was up 1.87 per cent followed by Nifty PSU Bank (+1.20 per cent) and Nifty Realty (+0.69 per cent). The laggards were Nifty Auto (- 0.30 per cent), Nifty IT (- 0.52 per cent) and Nifty Healthcare Index (-0.43 per cent).
3) INDIA VIX, a measure of volatility in Nifty stood at 13.73, up 2.10 per cent from the Friday closing level.
4) Stock specific action was seen in broader markets with Nifty Mid Cap 100 closing at 32,646.95, up 0.25 per cent. The top gainers were M&M Finance and AB Capital. The top losers were BHEL and Dalmia Bharat as 50 stocks managed a positive closing against 48 declines and 2 stocks remining unmoved.
5) 53 stocks advanced against 46 declines while 1 remained unchanged in the 100-stock Nifty Small Cap 100. The top gainers were Suzlon and Sobha while top losers were Brightcom Group and Angel One.
6) Out of 3,660 stocks that traded on BSE, advances were 2,151 while declines were 1,318 while 191 stocks remained unchanged. 152 stocks hit 52-week highs while 19 hit their 52-week lows.
7) Dow 30 Futures were trading at 34,313, down 116.90 points or 0.34 per cent while Singapore-based SGX Nifty was trading at 18,810, down 14.5 points or 0.08 per cent.
8) Rupee falls 47 paise to close at 81.80 (provisional) against US dollar.
9) February Gold futures were trading at Rs 54090 on MCX, up Rs 240 or 0.45 per cent. Meanwhile, March Silver futures were trading at Rs 66886, up Rs 437 or 0.66 per cent.
10) US benchmark crude oil picked up 55 cents to $80.53 per barrel in electronic trading on the New York Mercantile Exchange. It lost $1.24 to $79.98 per barrel on Friday. Brent crude added 56 cents to $86.13 per barrel after Western countries on Monday began imposing the $60-per-barrel price cap and ban on some types of Russian oil.
You can catch all the market related updates at Zeebiz.com along with other top news from business, politics, tech, auto and more.
Latest Updates
Markets LIVE: PSU Bank stocks in action
PSU Bank stocks were in action today with Punjab & Sind Bank emerging as a top gainer in the pack. The stock gained nearly 7 per cent intraday followed by Punjab National Bank (PNB) and State Bank of India. In the 12 stock index, 11 advanced against 1 decline.
Source: NSE Brokerage view on Voltas, Paytm
CLSA on Voltas (CMP: 855)
Upgrade to Outperform from Sell, Target raised to 935 from 870
Morgan Stanley on Muthoot Finance (CMP: 1136)
Initiate Equalweight, T,arget 1150
Citi on Paytm (CMP: 537)
Maintain Buy, Target 1055
(Disclaimer: The views/suggestions/advises expressed here in this article is solely by investment experts. Zee Business suggests its readers to consult with their investment advisers before making any financial decision.)
Stock to Buy: ICICI Bank - What brokerages say about this stock?
CICI Bank is expected to improve its market share in high margin verticals and is a fit candidate for re-ratings over next few years, Morgan Stanley said in a note. This brokerage firm remains ‘Overweight’ on ICICI Bank stock estimating up to Rs 320 per share gains.
The bank derives its revenues majorly from retail banking, wholesale banking, treasury, life insurance and other banking and allied activities.
The stocks was recommended at a price of Rs 931 with a target of Rs 1250. The upside is 34 per cent.
ICICI Bank shares were trading at Rs 931.55 on the NSE and were up 0.10 per cent from the last closing price.
Read More: Morgan Stanley upbeat on ICICI Bank, sees Rs 320 gain per share
Sensex Live - Top Index Contributors
Source: NSE Global Markets at a Glance
Among frontline Asian indices, NIKKEI 225 ended at 27,806.40, up 28.49 or 0.10 per cent while Shanghai Composite ended at 3,209.30, up 53.15 points or 1.68 per cent.
Source: NSE Markets Live: Gold shines amid weaker Dollar index
While metal stocks were clear winners in the otherwise lacklustre trading session on Monday, gold as a commodity gained in the intraday trade. Kalyan Jewellers India shares were trading at Rs 115.15 on the NSE and were up by Rs 5.40 per share or 4.92 per cent.
Meanwhile, Titan shares were trading at Rs 2,612.30, down 5.60 or 0.21 per cent.
Manappuram Finance shares were also trading with a positive bias around this time at Rs 125.50, up by Rs 6.10 or 5.11 per cent.
Commodity Markets - Gold trading strategy
Gold prices rallied last week and settled above USD 1790 for the first time in six months, Deveya Gaglani, Research Analyst, Axis Securities said. The correction in the dollar index supported bullion price, he said adding that the dollar index has slipped below the USD 105 level for the first time in six months.
"As Fed chairman indicated that they will adopt a dovish stance when it comes to hiking the rate as soon as in the month of December itself. Gold price is glittering again and it has regained its safe-haven appeal prices are all set to touch a new high next year. A strong resistance zone is seen around the USD1820 level. Breakout and sustained buying above the mentioned level may push prices higher toward the USD1860 level in the coming weeks. A strong support zone is seen around the USD1760 level," he further said.
(Disclaimer: The views/suggestions/advises expressed here in this article is solely by investment experts. Zee Business suggests its readers to consult with their investment advisers before making any financial decision.)
Markets Live: Sensex and Nifty widened their losses as the former was trading at 62,544.92, down 323.58 points or 0.51 per cent while Nifty50 slipped below 18600 as Reliance Industries and HDFC Bank shares triggered the fall in the bench mark indices.
Nifty Metal Live - Metal index was the clear wnner among its other sectoral indices.
Markets Live - Nifty Sectoral Indices
Source: NSE Source: NSE Sensex Live - Top Gainers and Losers
Nifty Live - Chart Movement
Source: NSE Nifty Live - Top Gainers and Losers
Source: NSE Commodity Markets Live - Gold, Silver begin positive
Rupee Vs dollar - INR opens with gains against greenback
Stocks In Focus - What brokerages say on LTI Mindtree
Nomura on LTI Mindtree (CMP: 5066)
Maintain Reduce, Target raised to 4180 from 3690
JP Morgan on Persistent Systems (CMP: 4345)
Downgrade to Neutral from Overweight, Target 4100
Downgrade after 31% rally since upgrade in early oct vs Nifty IT up 14%
Believe stock is fairly valued now at 32x 1-yr fwd Pe
A reverse DCF Implies 17% CAGR growth from next 10 years
Believe key to watch out for is its ability to maintain 4-6% qoq growth
Positive surprises here can provide support
(Disclaimer: The views/suggestions/advises expressed here in this article is solely by investment experts. Zee Business suggests its readers to consult with their investment advisers before making any financial decision.)
Stocks in Focus - What top brokerages say on Samvardhana Motherson International
CLSA on Samvardhana Motherson International (CMP: 74)
Maintain Buy, Target raised to 89 from 84
Citi on Samvardhana Motherson International (CMP: 74)
Maintain Sell, Target 68
Mgmt. reiterated following:
Group rev will reach $36bn by FY25 with ROCE of 40%
3CX10 strategy will imply that no country, customer or component will be more than 10% of turnover
Auto segment rev will be 75% of total, rest from new divisions
Dividend payout will be 40% of profit
Still think growth aspirations are ambitious & even if achieved, return ratio & margin would be compromised(Disclaimer: The views/suggestions/advises expressed here in this article is solely by investment experts. Zee Business suggests its readers to consult with their investment advisers before making any financial decision.)
Stocks in Focus - What top brokerages say on ICICI Bank
Morgan Stanley on ICICI Bank (CMP: 931)
Maintain Overweight, Target 1250
See further room to improve market share in higher margin segments
Expect a significant shift towards end to end digital organisations
Believe ICICI Bank should graduate to a compounding machine
Foresee continued rerating over the next few years
Goldman Sachs on ICICI Bank (CMP: 931)
Maintain Buy, Target 1075
Showcased pillars that it has put in place for sustainable &
profitable growth in future & to leverage growth opportunities
Conviction has been re-affirmed that Bk
this cycle could be poised to deliver a superior returns profile
Jefferies on ICICI Bank (CMP: 931)
Maintain Buy, Target 1150
Analyst day focused on strategic initiatives & priorities
Focus is on smoother customer journey, Digitalisation & Network Expansion
SME, Supply chain financing, Ecosystem & Retail are focus segments
At macro level, mgmt. reaffirmed stronger growth
Mgmt. expects better retail borrower behaviour & corporate balance sheet
Visibility of growth runaway is +ve despite no take away for near term earnings
Macquarie on ICICI Bank (CMP: 931)
Maintain Outperform, Target 1050
(Disclaimer: The views/suggestions/advises expressed here in this article is solely by investment experts. Zee Business suggests its readers to consult with their investment advisers before making any financial decision.)
Stocks in News: Results
Inox Green Energy Services Consolidated Q2FY23(qoq)
Revenue 62 cr Vs 62 cr
EBITDA 15 cr Vs 18 cr DOWN 14%
Margin 24.7% VS 29%
Loss 12 cr Vs Loss 12 cr
Inox Wind Q2FY23(yoy) Consol
Revenue 107 cr Vs 166 cr DOWN 36%
EBITDA Loss 24 cr Vs EBITDA Profit 3 cr
Margin NA VS 2%
Loss 133 cr Vs Loss 57 cr
*Expenses considered is Total Expenses less capitalised expenses
Inox Wind EnergyQ2FY23(yoy) Consol
Revenue 109 cr Vs 163 cr DOWN 33%
EBITDA Loss 23 cr Vs EBITDA Loss 12 cr
Loss 70 cr Vs PAT 64 cr
*Expenses considered is Total Expenses less capitalised expenses
PTC India Financial Services Q2FY23 (Consol) (YoY)
NII 84 Cr Vs 89.6 cr DN 6.25%
PAT 52.6 cr Vs 52.4 cr Up 0.38%
Markets Live - IPO Update
Uniparts India IPO Closed on 2nd December (Friday)
Total 25.3x
QIB: 67.1x
NII: 17.9x
Retail: 4.6x
Stocks to Buy Sell or Hold - Strategy on 20 stocks
In today's edition of Traders Diary, Zee Business research team brings its exclusive research on 20 stocks that investors and traders can refer to while making their strategies in them. The research team of Arman Nahar and Senior Research Analyst Varun Dubey recommends a buy, sell or hold strategy in cash stocks, futures and give their best picks for today.
"Indian Equities SGX nifty was expected to rise by 50 points as Asian equities were a mixed bag. FPIs have been sellers of the dollars buying Indian Equities in the month of November-2022 and have continued buying in this month also. Exporters may sell the rise towards 81.40 and 81.50 while importers may buy the dip at 80.98 to 81.10," Anil Kumar Bhansali, Head of Treasury at Finrex Treasury Advisors LLP said.
Indian rupee may open at 81.25 levels after easing of Asian currencies against dollar and could remain in a range of 81 to 81.50 as oil companies may come and buy dollar at lower levels, Bhansali said adding that market are awaiting for RBI monetary policy announcements on 7 December.
The dollar index has fallen to 104.28 after the release of US NFPR on Friday which came much better than expected at 263 k against expectation of 200 k. As China eased covid curbs brent oil rose to $ 87.03 per barrel while Asian currencies all rose against the dollar with CNH rising to 6.97 levels.
(Disclaimer: The views/suggestions/advises expressed here in this article is solely by investment experts. Zee Business suggests its readers to consult with their investment advisers before making any financial decision.)
Markets Live - Trading Strategy in Gold, Silver by Anuj Gupta of IIFL Securities
BUY MCX GOLD FEBRUARY AT 53600 STOP LOSS 53300 TARGET 54200
Buy MCX Silver March AT 66000 STOP LOSS 65250 TARGET 67500
Buy MCX CRUDEOIL December AT 6500 STOP LOSS 6300 TARGET 7000
Buy MCX COPPER December AT 690 STOP LOSS 684 TARGET 707
Buy NSE NIFTY AT 18750 STOP LOSS 18550 TARGET 19050
BUY BANKNIFTY AT 43050 STOP LOSS 42700 TARGET 43650
SELL NSE USDINR AT 81.80 STOP LOSS 82.00 TARGET 81.10
Buy NCDEX COCUDAKL DECEMBER AT 2720 STOP LOSS 2670 TARGET 2820
(Disclaimer: The views/suggestions/advises expressed here in this article is solely by investment experts. Zee Business suggests its readers to consult with their investment advisers before making any financial decision.)
Markets LIVE today: Stocks In News
Bulk Deals
PB Fintech
Societe Generale bought 26 lakh (0.58%) shares at 456.4 per share. (New entrant) Morgan Stanley Mauritius 27.3 lakh (0.61%) shares at 456.4 per share. (New entrant) Both the purchase was worth of Rs 243 crore.
Krishna Institute of Medical Sciences: Investor General Atlantic Singapore sold 14.50 lakh shares (1.81% )of at 1,480 per share. worth Rs 214.6 crore. General Atlantic singapore stake reduce to 8.61% from 10.42% Amansa Holdings bought 13.95 lakh shares at 1480 per share (New entrant)
Stock Market Live - Key Triggers
Stocks in News - Tyre Stocks
Markets Live: Stocks in News
Larsen & Toubro Infotech- Change in Name to LT Mindtree & Listing of new Shares after Merger
Garware Technical Fibers- Buyback to Begin (Period- 5th to 16th December, Price- Rs 3750, No of Shares- 2.40lakh)
Adani's open offer for NDTV to close (Open offer period-22nd Nov to 5th Dec, Price- Rs 294)
Good Morning! This is Shivendra Kumar and I am back with all the live action. Watch this space to remain updated.
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