Stock Market Today HIGHLIGHTS: Sensex, Nifty end flat as IT stocks become spoilsport; Infosys top drag
Stock Market HIGHLIGHTS: In the 50-stock Nifty50, 28 stocks adanced against 22 declines. The top gainers were BPCL, Coal India, Divis Laboratories, UPL and Nestle India while the top losers were Asian Paints, Infosys, Eicher Motors, Kotak Mahindra Bank and Titan
Stock Market HIGHLIGHTS: Indian benchmark indices S&P BSE Sensex and Nifty50 ended flat on Monday recovering from day's lows. Sensex which fell over 500 points in the opening trade closed at 62,130.57, down 51 points or 0.08 per cent. Nifty50 managed to finish in the green at 18,497.15, up just 0.55 points. Banking gauge - Nifty Bank ended at 43,708.75, up by 75.30 points or 0.17 per cent.
Here are top highlights from the day's action:
1) Indian markets started Monday's trading session with a gap down tracking negative sentiments from the global stock markets.
2) In the 50-stock Nifty50, 28 stocks advanced against 22 declines. The top gainers were BPCL, Coal India, Divi's Laboratories, UPL and Nestle India while the top losers were Asian Paints, Infosys, Eicher Motors, Kotak Mahindra Bank and Titan.
3) Out of 15 Nifty50 indices 12 were gainers. Nifty PSU Bank (+1.49 per cent), Nifty Oil & Gas (+1.15 per cent) and Nifty Metal (0.49 per cent) were the top performers. The losers were Nifty Consumer Durables (-0.92 per cent), Nifty IT (-0.49 per cent). Nifty Pharma ended with marginal losses.
4) INDIA VIX, a measure of volatility in Nifty was down 1.70 per cent at 13.25 at the day's end.
5) There was stock specific action in broader markets. In the Nifty Mid Cap 100 index, 59 stocks advanced while 41 declined. The top gainers were Yes Bank, Union Bank and Hindustan Petroleum while the top losers were Navine Fluorine, Cummins India and Dixon Technologies. In the Nifty Small Cap 100 index, 52 stocks gained, 47 declined and 1 remained unchanged. Suzlon gained 10 per cent in the pack and was the top performer followed by Jindal Steel and Chemplast Sanmar. Declines were seen in KEI, Fine Organic and Glenmark Pharma.
6) Infosys, Kotak Bank and Asian Paints were the biggest laggards in terms of index contributors.
7) Out of 2,735 stocks that traded on BSE, advances were seen in 1,155 stocks, declines were in 1434 stocks while 146 remained unchanged. Number of stocks that hit 52-week highs were 70 while 18 hit their 52-week lows.
8) Two new IPOs also opened today - Aban Holdings, Sula Vineyards. Uniparts India stock was listed today at a discount. The stock ended at Rs 539.55, down 35.45 points or 6.17 per cent.
9) Rupee falls 26 paise to close at 82.54 (provisional) against US dollar, PTI reported.
10) Singapore-based SGX Nifty futures, an early indicator of movement in Nifty was trading at 18,598, up 7 points or 0.04 per cent while Dow Futures were trading at 33,529, up 52 points or 0.16 per cent.
11) Gold February futures fell by Rs 115 and were trading at Rs 54180 on the MCX at 4:15 pm. March Silver futures were trading at Rs 68133, down by Rs 95 or 0.14 per cent.
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Commodity LIVE - MCX Gold, Silver Trading Strategy
MCX February Gold and March Silver futures were trading at day's highs around 3 pm. Commodity expert Anuj Gupta recommends a BUY MCX GOLD futures at Rs 54100 with a stop loss of Rs 53850 and price target of Rs 54500. Buying is recommended in MCX March Silver at Rs 67400 with a stop loss of Rs 66750 and target of Rs 68800.
(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 - Abans Holdings Limited IPO Subscription Status
The issue opened today and will close on Wednesday. The subscription applicaton can be made between 10 am and 5 pm. The price band of this 100 per cent book building issue is Rs 256 to Rs 270.
IPO Watch - Sula Vineyards Limited IPO
Sula Vineyards IPO opened today. The 100% Book Building issue is priced at Rs 340 to Rs 357. The subscription application can be made between 10 am and 5 pm. The issue was overall subscribed 0.09 times as of 2:28 pm. Non Institutional Investors (NIIs) subscribed the issue 0.02 times while QIBs were yet to place any share bid.
Stock in Focus - Bharat Forge
Morgan Stanley is bullish on Bharat Forge shares and has maintained an ‘Overweight’ rating on this stock. The brokerage firm derives its optimism from company’s focus on sectors such as defense, aerospace and electric vehicles. It is of the view that the company will look to tap new business avenues while strengthening its core portfolio.
It has put the price target of Rs 1035, estimating a 20 per cent upside from the level of Rs 857 at which the stock was recommended.
Bharat Forge shares were trading at Rs 871 on NSE, up by Rs 13.60 or 1.59 per cent from the Friday closing price.
Another brokerage, Nomura has maintained a ‘Buy’ on this stock for a target of Rs 1021.
Stocks in News - ITC
ITC Share Price: News that government could ban on sale of loose cigarettes did not show any impact on ITC stock on Monday. The government may consider banning sale of loose cigarettes after a standing committee of Parliament has sent its recommendations urging the government to do so.
ITC stock was trading at Rs 341.65 on the NSE, up by Rs 0.25 0.07 per cent from the Friday closing price.
Read More: Banning loose cigarettes news fails to deter ITC investors; analyst sees 6% gains
Today's Trading Strategy by Anuj Gupta of IIFL Securities
BUY MCX GOLD FEBRUARY AT 54100 STOP LOSS 53850 TARGET 54500
Buy MCX Silver Mar AT 67400 STOP LOSS 66750 TARGET 68800
BUY MCX CRUDEOIL DEC AT 5700 STOP LOSS 5550 TARGET 6000
BUY MCX COPPER DEC AT 700 STOP LOSS 694 TARGET 712
BUY NIFTY AT 18400 STOP LOSS 18300 TARGET 18680
BUY BANKNIFTY AT 43450 STOP LOSS 43100 TARGET 43900
SELL USDINR AT 82.60 STOP LOSS 82.80 TARGET 82
(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.)
Live Markets - Commodity LIVE
Source: MCX IPO Watch: Unipart India IPO Listing
Stocks to buy, sell or hold - what brokerages recommend
- Morgan Stanley on Aditya Birla Capital (CMP: 156)
Downgrade to Equalweight from Overweight, Target 160
Nomura on Honeywell Automation (CMP: 41539)
Maintain Buy, Target raised to 50642 from 48900
Preferred pick on India digitalization Execution &
margins to pick up as services/exports recover &
semiconductor lead times reduce
Expect turnaround in 2HFY23F continuing into
FY24F Trading @55x FY24F EPS
- JP Morgan on Punjab National Bank (CMP: 56)
Upgrade to Overweight from Underweight, Target raised to 72 from 34
Rising tide lifts all boats Upgrade follows co’s
2Q disclosures that show net slippages have got
into -ve territory & recovery momentum is outpacing
new NPL creation + there is minimal stress in corp loans
Provisions largely related to back book (Net NPL 3.8%, Restructured 1.7%)
which are higher than SBI/BOB & market will likely
look through it via a 1-time bk value adjustment
Stock up 44% in 3M vs NSEBANK: +8%)
- Jefferies on IndusInd Bank (CMP: 1203)
Maintain Buy, Target raised to 1600 from 1530
Ready for next leg of re-rating Expect loan growth
to improve to +20% from FY24 & ROA towards 2%
as new loan segments, initiatives on funding & credit quality
checks pay off Approval for extension to CEO key catalyst in Feb
(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 gainers and losers
Markets LIVE - Uniparts IPO Listing
Markets Live: Nifty Sectoral Indices - top gainers and losers
Markets Live: Nifty in Charts
Markets LIVE - Nifty Gainers and Losers
Asian Markets Live
Asian markets were also trading weak hours before the opening of Indian markets. Nikkei 225 was trading at 27,815.20, down 85 points 0.31 per cent while Hang Seng was trading at 19,525.94, down 374.93 points 1.88 per cent. China's Shanghai Composite was trading at 3,188.63, lower by 18 points 0.57 per cent.
Expect markets to trade range bound over the next three days as the all important Federal Reserve's FOMC meeting begins on Tuesday. The key policy announcement will be made by Chair Jerome Powell on Wednesday in a press conference.
On Friday, US Markets ended negative with Dow 30 closing at 33,476.50, down 305 points or 0.90 per cent while S&P 500 settled at 3,934.38, lower by 29.13 points or 0.73 per cent. Nasdaq Composite finished at 11,004.60, down 77 points or 0.70 per cent.
Dollar Index has witnessed some recovery and is hovering around 105. Investors must watch out for rupee movement. Crude oil has slipped furter with brent crude and WTI declining by 12 per cent and brent is trading around USD 76.
Stocks to Buy: Bharat Forge - What top brokerages recommend?
- Nomura on Bharat Forge (CMP: 857)
Maintain Buy, Target 1021
- Jefferies on Bharat Forge (CMP: 857)
Maintain Underperform, Target 555
Co shared long-term targets of growing consol
rev at 12-15% CAGR over FY22-30 with 20%+ EBITDA margin,
25% ROCE & 30%+ dividend payout Like structural initiatives,
but concerned on cyclical headwinds in exports
- JP Morgan on Bharat Forge (CMP: 857)
Maintain Neutral, Target 865
- Morgan Stanley on Bharat Forge (CMP: 857)
Maintain Overweight, Target 1035
Key focus on new business avenues such as defense,
aerospace electric vehicles & aluminum light-weighting
Under its 2030 strategy, co expects to strengthen its
core portfolio while expanding into new biz
(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.)
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 Senior Research Analyst Varun Dubey and Dubey Kushal Gupta recommends a buy, sell or hold strategy in cash stocks, futures and give their best picks for today.
Anil Singhvi Strategy on Nifty, Bank Nifty
Despite negative cues from the global stock markets, crude oil and other important factors remain stable, Zee Business Managing Editor Anil Singhvi said. Nifty is trading near its support level, he added. Amid negative global markets, positive domestic institutional investors (DIIs), negative foreign institutional investors (FIIs), neutral futures & options (F&O) and neutral sentiment cues, the short-term trend of the Indian stock markets will be positive on Monday, December 12, 2022.
Anil Singhvi Strategy on Nifty Bank Nifty - Key support and resistance level
Anil Singhvi Strategy on Nifty Bank Nifty - Key support and resistance level
Anil Singhvi Strategy on Nifty Bank Nifty - Key support and resistance level
Anil Singhvi Strategy on Nifty Bank Nifty - Key support and resistance level
Zee Business Stock, Trading Guide
The Indian markets took a breather after making a new record high and shed over a percent this week. The benchmarks gradually inched lower amid mixed global cues however selling pressure in the IT majors put further pressure in the final session.
Consequently, the benchmark indices, Sensex and Nifty, settled at 62,181.67 and 18,496.60 levels. Most sectors traded in tandem with the benchmark and edged lower however buoyancy in the banking and FMCG majors capped the damage.
Good Morning! This is Shivendra Kumar and I am back with all the Live action from the stock markets.
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