Stock Market HIGHLIGHTS: Powered by bank stocks, Sensex ends with 400 point gains, Nifty up over 100 points
Stock Market HIGHLIGHTS: In the 50-stock index, 34 advanced. The top gainers on Nifty50 were Indusind Bank, Bajaj Finance, Infosys, HCL Technologies and TCS while the top losers were UPL, Apollo Hospitals, BPCL, Nestle India and Hindalco Industries
Stock Market HIGHLIGHTS: Indian frontline indices S&P BSE Sensex and Nifty50 ended with strength on Tuesday tracking positive global cues. Sensex ended at 62,533.30, up 402.73 points or 0.65 per cent while Nifty50 settled at 18,610.40, up 113 points or 0.61 per cent. The strength was powered by bank and financial service stock. Nifty Bank today hit yet another lifetime high of 43,983.80 on the intraday basis.
Here are highlights from the day's action:
1) After a cautious opening, markets picked up momentum and widened their gains towards the end of today's session. Cues were positive for the Indian markets with US major indices closing with gains on Monday. US Federal Reserve is meeting today for the December Federal Open Market Committee Meeting (FOMC) and will announce policy rates on Wednesday along with forward guidance. A 50 bps points hike is expected.
2) In the 50-stock index, 34 advanced. The top gainers on Nifty50 were Indusind Bank, Bajaj Finance, Infosys, HCL Technologies and TCS while the top losers were UPL, Apollo Hospitals, BPCL, Nestle India and Hindalco Industries.
3) Bank Nifty ended at record high on the closing basis. The index widened its gains as the trading progressed. It settled at 43,946.55, up nearly 237.80 points or 0.54 per cent. 11 stocks in 12-share index closed in the green,
4) Out of 15 Nifty sectoral indices, 10 ended positive. The top gainers were Nifty PSU Bank (+3.81 per cent), Nifty Bank (+0.54 per cent) and Nifty Financial Services (+0.47 per cent). The major laggards were Nifty Realty (-0.80 per cent), Nifty Consumer Durables (-0.20 per cent) and Nifty FMCG (-0.15 per cent).
5) There was stock specific action in broader markets as well. Nifty Mid Cap 100 ended with gains of 176 points or 0.54 per cent. 53 stocks gained while 47 declined. The top gainers were Yes Bank, Indian Bank and Tata Communications while the top losers were Laurus Labs, Lal Path Labs and Tube Investments. In the 100 stock Nifty Small Cap 100, 53 stocks gained, 46 declined while 1 remained unchanged. The top gainers were Maharashtra Bank, Aegis Logistics and Just Dial while top losers were Redington, Chemplasts and KEI.
6) India VIX, a measure of volatility in Nifty 3.26 per cent to 12.88.
7) Singapore-based SGX Nifty futures, an early indicator of movement in Nifty50 were trading at 18,701, up 103 points or 0.55 per cent. Dow Futures were trading at 34,110, up 103 points or 0.31 per cent.
8) Out of 3,669 stocks that traded on BSE, 1,920 advanced, 1,605 declined while 144 remained unchanged. 171 stocks hit their 52-week highs while 34 hit their 52-week lows.
9) The rupee declined by 36 paise to close at 82.87 (provisional) against the US dollar on Tuesday, weighed down by persistent foreign capital outflows from the capital markets. Risk aversion sentiment among investors ahead of the US Federal Reserve's interest rate decision also impacted trading, forex dealers said. At the interbank foreign exchange market, the rupee opened lower at 82.63 against the greenback and witnessed a high of 82.60 and a low of 82.87. It finally settled at 82.87, down 36 paise over its previous close of 82.51. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.15 per cent to 104.98. PTI
10) Brent crude futures, the global oil benchmark, climbed 1.73 per cent to USD 79.32 per barrel.
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Latest Updates
Stocks in Focus - What brokerages recommend?
- Morgan Stanley on Paytm (CMP: 529)
Maintain Equalweight. Target 695
- Goldman Sachs on L&T (CMP: 2164)
Maintain Buy, Target raised to 2460 from 2140
To benefit from
1 Sustained momentum in govt funded domestic infra projects, & order inflow from ME
2) Pick-up in private capex
3) potential sale/financing of non-core power, road, & metro projects,
which will improve b/s/return ratios
(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 - Axis Bank hits 52-week high
Bank stocks were in action on Tuesday aiding Nifty Bank index scale new highs. Axis Bank was among the top gainers on Nifty50 and hit its 52-week high of Rs 949.30 on NSE on the intraday basis.
Stocks in News - Dr Lal Path Labs
Dr Lal PathLabs Ltd shares dropped sharply in Tuesday's trade amid reports that the Delhi government is set to provide 450 types of medical tests free of cost from January 1.
Reports indicated that the facility will be initially extended to government hospitals and mohalla clinics.
At 1.04 pm, Dr Lal PathLabs Ltd (NSE: LALPATHLAB) share price quoted at Rs 2,363.70, down 2.61 percent on NSE.
Stocks in News - SBI
SBI shares were trading at Rs 616.50 on the NSE and were up 0.56 per cent from the last cloaing price on Monday. The bank has raised interest rates on bulk tern deposits by 0.5-1 per cent. The retail term deposit rates have also been increased by 0.15-0.65 per cent.
Markets LIVE - Broader market action
Currency Updates - Rupee Vs Dollar
Rupee falls on dollar demand from importers, eyes 82.75
The Indian rupee declined against the U.S. currency on Tuesday, on persistent dollar demand from importers and weak Asian cues.The rupee was quoting at 82.6225 per dollar by 10:42 a.m. IST, compared with 82.53 in the previous session. The rupee has held an 82.62-to-82.73 range so far.
The "structural and usual" dollar demand is obviously pulling USD/INR higher, but it's proving difficult to point to what is exactly prompting the recent sizeable underperformance of the rupee, a trader at a Mumbai-based bank said.
The USD/INR should once again run into small offers around 82.75, a level that has been rejected twice in the last few days, the trader added.
Asian currencies declined on cautious sentiment ahead of the U.S. inflation data due later in the day, which will be followed by the Federal Reserve's policy decision on Wednesday.
The U.S. headline and core inflation rates are both expected to moderate, lending support to expectations that the Fed will deliver a smaller rate hike.
A surprise on either side could have major implications for interest rates and the foreign exchange market. Last month, a small surprise to the downside prompted a more-than-3% slide on the dollar index in two sessions.Heading into the data, traders have priced in a 3-in-4 chance that the Fed will raise rates by 50 basis points (bps), while the rest expect a 75 bps hike.
Meanwhile, The USD/INR forward premiums declined on Tuesday after India's consumer inflation rate moderated much more than what analysts had forecast in November.The November forward premium was quoting at 1.50 rupees, down from 1.5250 in the previous session. The 1-year implied yield was down four bps at 1.88%. Reuters
Markets Live - Nifty Sectoral Indices
Out of the 15 Nifty sectoral indices, 9 were trading in the green. The top performing inex was once again Nifty PSU Bank which maintained its good run today and was up over 1 per cent. Nifty Bank and Nifty Private Bank were other top performing indices. The losers were Nifty Realty, Nifty Pharma and Nifty Healthcare Index.
Source: NSE Stocks to Buy: Siemens What Brokerages recommend?
- Credit Suisse on Siemens (CMP: 3038)
Maintain Neutral, Target raised to 2825 from 2650
Siemens does not see any slowdown in investment cycle, continues to see strong capex by public sector
Siemens is seeing strong growth in e-mobility data centres
Siemens shared that margins are impacted by strong cost headwinds
Change earnings by 1.1%/1.4% for yle sep 23/24E
- Macquarie on Siemens (CMP: 3038)
Maintain Outperform, Target raised to 3330 from 3120
(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.)
IPO Watch - Subscribe or not to subscribe it?
Landmark Cars IPO Review By Anil Singhvi: The 552-crore Landmark Cars IPO is open for subscription today. The subscription window will close on December 15. Ahead of its IPO, the company announced allocation of 32,66,797 shares to anchor investors, aggregating Rs 165.29 crore.
Zee Business Managing Editor Anil Singhvi has recommended subscribing the public issue for long term. He said that if investors are not subscribing now, then they can buy after the listing. The Market Guru said that Landmark Cars has experienced promoters and is in leadership position which is a boon.
Read More: Landmark car IPO Review by Anil Singhvi: Subscribe or avoid? Check recommendation here
IPO Watch - Sula Vineyard
Anil Singhvi on Sula Vineyard IPO: The initial public offer of Sula Vineyards on first day (December 12) received 28 per cent subscription. The leading wine producer's IPO received bids for 52,34,670 shares against 1,88,30,372 shares on offer, as per NSE data.
The category for Retail Individual Investors (RIIs) was subscribed 48 per cent and that of non-institutional investors 18 per cent.
Landmark car IPO Review by Anil Singhvi: Subscribe or avoid? Check recommendation here
The Initial Public Offering (IPO) of up to 26,900,530 equity shares has a price range of Rs 340-357 a share.
Read More: Sula Vineyard IPO Review by Anil Singhvi: Subscribe or avoid? Check recommendation here
Inflation - India Vs Rest of the World
Markets Live - Trading Strategy by Anuj Gupta of IIFL Securities
BUY MCX GOLD FEBRUARY AT 53900 STOP LOSS 53700 TARGET 54500
Buy MCX Silver March AT 67200 STOP LOSS 66500 TARGET 68300
BUY MCX CRUDEOIL DECEMBER AT 5950 STOP LOSS 5850 TARGET 6200
BUY MCX COPPER DECEMBER AT 695 STOP LOSS 690 TARGET 705
BUY NIFTY AT 18400 STOP LOSS 18300 TARGET 18680
BUY BANKNIFTY AT 43600 STOP LOSS 43400 TARGET 44200
SELL USDINR AT 82.70 STOP LOSS 82.90 TARGET 82.20
(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
Markets LIVE - Bank Nifty hits yet another lifetime high
Bandhan Bank was the top gainer and was up nearly 7 per cent. In the 12-stock index, 8 were gainers.
Markets Live -Global Markets at a glance
Markets Live - In the 50-stock Nifty50, advances were 37 while 13 stocks declined.
Markets LIVE - Nifty top gainers and losers
Source NSE Stocks in Focus: Dalmia Bharat - What brokerages recommend?
CLSA on Dalmia Bharat (CMP: 1906)
Maintain Outperform, Target raised to 2100 from 1810
To acquire JP Associates’ (9.4mt); EV Rs56.7bn, implying a val of $73/t,
which is lower than the cost of setting up new capacity
Deal address geographical concentration risk & expedite journey towards target capacity
Morgan Stanley on Dalmia Bharat (CMP: 1906)
Maintain Overweight, Target 1900
Enters into a binding Framework Agreement for acquisition of cement,
clinker, & power plants from JP Associates
Will help diversify geographical footprint Also a step towards management’s
vision of making Dalmia a pan-India player
Citi on Dalmia Bharat (CMP: 1906)
Maintain Neutral, target 1650
Jefferies on Dalmia Bharat (CMP: 1906)
Maintain Buy, Target 2060
Announced acquisition of 9.4/6.7mtpa cement/clinker capacity in
Central/East regions from JP Associates
Will enable co emerge as a Pan India Cement player
Macquarie on Dalmia Bharat (CMP: 1906)
Maintain Outperform, Target 1985
JP Morgan on Dalmia Bharat (CMP: 1906)
Maintain Overweight, Target 1845
Proposed acquisition at attractive valuations
Gives Dalmia pan- India foot print
Dalmias balance sheet can absorb such a transaction
Growth optionality of underutilized assets moving to stronger
(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 - Fertiliser stocks are expected to remain in focus when markets open. The trigger is that the government could increase fertiliser subsidy in Union Budget 2023.
Commodity Live
Markets Live - Rupee Vs Dollar
Rupee opened weak against the US Dollar today and was down by 12 paise.
Markets LIVE - Stocks in Ban
F&O Ban Update:
Already In Ban: GNFC, BHEL, PNB, Delta Corp
New In Ban: Nil
Out Of Ban: NilMarkets LIVE: IPO Watch - Anil Singhvi Strategy
Landmark Cars IPO Preview:
APPLY FOR LONG TERM OR BUY POST LISTINGPositives:
Experienced Promoters with business leadership
Regular profitmaking company
Strong growth outlookNegatives:
Huge competition
Company still needs to reduce debt
Reasonable valuationsSula Vineyards IPO Preview:
APPLY FOR LONG TERM OR BUY POST LISTINGPositives:
Experienced Promoters
Business leadership with 52% market share
Improvement in financials
Strong growth outlookNegatives:
Highly government regulated business
FTA with different countries may increase competition
Too much Related party transactions
Valuations reasonableFOMC Meeting December 2022 LIVE Updates:
US Central Bank’s Federal Open Market Committee (FOMC) meeting begins on Tuesday where the Federal Reserve is expected to increase interest rates by 50 bps. The two-day meeting, which will conclude on Wednesday, will be followed by a monetary policy speech of Chair Jerome Powell and later by a press conference.
While announcing the policy rate, Fed will also give guidance on inflation, GDP growth and unemployment numbers.
Federal Reserve had on November 2 raised the rates by 75 basis points so as to maintain the federal funds rate in a target range of 3.75 to 4 per cent. This hhike was the fourth consecutive rate increase undertaken by American Central Bank taking the effective rate hikes so far in 2022 to 375 bps.
You can catch all the action building-up ahead of the announcements, LIVE speech and the PC, impact on US and other major markets and reactions following the big event.
US Fed Policy: Expectations
Federal Open Market Committee (FOMC) of the Federal Reserve will begin on Tuesday, 13 December where the US Central Bank is expected to raise interest rates by 50 bps. Market expert Ajay Bagga in chat with Zee Business Managing Editor Anil Singhvi said that the markets have priced in the impact of the interest rate hike.
The two-day meeting will be followed by a monetary policy speech by Chair Jerome Powell and a press conference.
agga said that a 50 bps interest rate hike will also be made by European Central Bank and Bank of England on 15 December 2022, Thursday.
The important thing in this will be the forward guidance given by Fed which is a summarized economic projection, Bagga added. This will give a guidance on next year GDP, unemployment and terminal rate which will indicate at what point the pivot will come.
Markets Live - Things to watch out for
Zee Business Stock, Trading Guide: The Indian markets started the week on a volatile note and ended almost unchanged amid weak global cues, this is in continuation to the prevailing corrective phase. In a seesaw trade today, Nifty and Sensex settled at 18497.15 and 62,130.57, respectively.
Meanwhile, a mixed trend on the sectoral front kept the traders busy wherein buoyancy in the banking capped the downside. Besides, recovery in the broader indices further eased the pressure.
Markets Live - Things to watch out for
Zee Business Stock, Trading Guide: The Indian markets started the week on a volatile note and ended almost unchanged amid weak global cues, this is in continuation to the prevailing corrective phase. In a seesaw trade today, Nifty and Sensex settled at 18497.15 and 62,130.57, respectively.
Meanwhile, a mixed trend on the sectoral front kept the traders busy wherein buoyancy in the banking capped the downside. Besides, recovery in the broader indices further eased the pressure.
Good Morning, this is Shivendra Kumar and I am back with all the LIVE action from the stock markets. Watch this space to remain updated.
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