Stock Market HIGHLIGHTS: Sensex jumps over 700 points, Nifty hits double century; Indusind Bank, SBI top gainers
Stock Market HIGHLIGHTS: In the 50-stock Nifty50, 40 advanced. Top gainers were State Bank of India (SBI), Indusind Bank, Hindalco Industries, Coal India and Bajaj Finserv while top losers were Cipla, Divis Laboratories, Dr Reddys Laboratories, Nestle India and Kotak Mahinda Bank
Stock Market HIGHLIGHTS: Indian stock markets were unfazed by the lack of action from global markets and made a resounding comeback on Monday after ending four consecutive sessions in the red. Frontline indices S&P BSE Sensex and NSE Nifty50 extended gains after a cautious opening. Sensex closed at 60,566.42, up by 721 points or 1.20 per cent while the broader market Nifty surpassed 18000 level to finish at 18,014.60, up 207.80 points 1.17 per cent. Banking gauge Bank Nifty with gains of 962 points or 2.31 per cent at 42,630.15.
Here are top highlights from the day's action:
1) In the 50-stock Nifty50, 40 advanced. Top gainers were State Bank of India (SBI), Indusind Bank, Hindalco Industries, Coal India and Bajaj Finserv while top losers were Cipla, Divi's Laboratories, Dr Reddy's Laboratories, Nestle India and Kotak Mahinda Bank.
2) Barring Nifty Pharma (-0.84 per cent) and Nifty Healthcare Index (-0.85 per cent), all other Nifty sectoral indices ended in the green. Nifty PSU Bank was in the spotlight with 7.29 per cent gains. Nifty Bank, Nifty Realty and Nifty auto were other top gainers.
3) India VIX, a measure of volatility in Nifty was down 1.4 per cent at 15.93.
4) The exuberance reflected in broader markets as well. Nifty Mid Cap 100 ended at 30,977, gaining over 800 points or 2.72 per cent. In the 100-stock index, 91 were gainers. The top gainers were Union Bank, Poonawalla Fincorp and Yes Bank while top losers were Lal Pathlabs, IPCA Labs and Lupin.
5) There were 93 advances against 7 declines in Nifty Small Cap 100 index. Easy Trip Planners, Maharashtra Bank and Suzlon were top gainers while DCM Shriram, Glenmark Pharma and Metropolis Healthcare were top losers.
6) Out of 3,768 stocks that traded on 2,874 gained, 762 declined while 132 remained unchanged. 55 stocks hit their 52-week high levels while 212 hit their 52-week lows.
7) Radiant Cash Management Services IPO was overall subscribed 0.05 times on the NSE. The retail portion was subscribed 0.06 times.
8) Global markets in at least a dozen major economies including US and UK are closed today on account of extended Christmas holiday. Singapore-based SGX Nifty was trading at 18,029, up 165 points or 0.92 per cent. Among top Asian indices, Nikkei 225 ended at 26,405.90, up 170.62 or 0.65 per cent while China's Shanghai Composite was up by 19.70 points or 0.65 per cent at 3,065.56. Hang Seng is also closed today.
9) The rupee appreciated 17 paise to close at 82.65 (provisional) against the US dollar on Monday, tracking positive domestic equities and the weakening of the American currency in the overseas market.
At the interbank foreign exchange market, the local unit opened at 82.79 and touched an intra-day high of 82.63 and a low of 82.83 against the greenback. It finally settled at 82.65, registering a rise of 17 paise over its previous close of 82.82. According to Anuj Choudhary - Research Analyst at Sharekhan by BNP Paribas, the rupee appreciated on Monday on a surge in domestic equities and a soft US Dollar. Domestic indices gained by around 1.5 per cent. The US Dollar softened amid improved global risk sentiments and softer inflation in the US. PTI
10) MCX Gold futures were trading with minor gains at 54620, up 46 points 0.08 per cent. February Silver futures were trading at 69091, 58 points or 0.08 per cent.
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Anil Singhvi Mantra on Markets
Stock to Buy - Tata Motors
Tata Motors shares gained on Monday after company’s subsidiary TML CV Mobility Solutions bagged orders from Delhi Transport Corporation (DTC) for supplying 1,500 buses. The share was trading at Rs 386.30 per share on NSE, up by Rs 7.95 or 2.10 per cent at 12:40 pm.
Market expert Sanjiv Bhasin said that he is bullish on the Tata Group company and called it one of his favourites in the auto sector. He said that the company commercial vehicle sales are four times than what Ashok Leyland sells.
Markets LIVE - Stocks in News
Siemens Share Price: Siemens Limited shares gained on Monday on news of Rs 26,000 crore worth contract it has bagged from Ministry of Railways. The stock was trading at Rs 2,858 on the NSE and was up by Rs 70.80 or 2.54 per cent around 10 am.
The US-based multi-national company has received a ‘Letter of Award’ after becoming the lowest bidder for 9,000 HP electric locomotive projects in Gujarat’s Dahod.
The company will be manufacturing 1,200 electric engines over a period of 11 years. On 6 December, the company had already informed exchanges about becoming the lowest bidder.
Stocks to Buy - Siemens
Siemens Limited shares gained on Monday on news of Rs 26,000 crore worth contract it has bagged from Indian Ministry of Railways. The stock was trading at Rs 2,858 on the NSE and was up by Rs 70.80 or 2.54 per cent around 10 am.
The US-based multi-national company has received a ‘Letter of Award’ after becoming the lowest bidder for 9,000 HP electric locomotive projects in Gujarat’s Dahod.
The company will be manufacturing 1,200 electric engines over a period of 11 years. On 6 December, the company had already informed exchanges about becoming the lowest bidder.
Market Expert Himanshu Gupta said that the stock has been in correcting spree. However, Siemens stock is one of the two stocks in his list that must be bought on correction.
He said any dip around Rs 2700 is the opportunity to buy this stock with a positional term view. At this level, the strong offers a strong risk to reward ratio. The current declines are healthy correction and the stock has seen uptrend.
(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 To Buy - IRCTC, Tata Motors
Commodity LIVE - Trading Strategy by Anuj Gupta of IIFL Securities
BUY MCX GOLD FEB AT 54500 STOP LOSS 54250 TARGET 55000
Buy MCX Silver Mar AT 68500 STOP LOSS 67800 TARGET 70000
BUY MCX COPPER JAN AT 705 STOP LOSS 699 TARGET 715
BUY MCX CRUDEOIL JAN AT 6550 STOP LOSS 6450 TARGET 6700
BUY NIFTY AT 1700 STOP LOSS 17550 TARGET 18000
(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.)
Commodity LIVE - Gold, Silver Futures on MCX
Source: MCX Markets LIVE - Nifty top gainers and losers
Markets LIVE - Nifty in Charts
Source: NSE Markets LIVE - Radiant Cash Management IPO
Anil Singhvi's Strategy
HIGH RISK TAKING INVESTORS APPLY FOR LONG TERM
BETTER TO BUY POST LISTINGPositives:
Experienced promoters
Strong financialsNegatives:
Digitization can hurt growth
Reasonable valuations, not cheapMarkets LIVE - Anil Singhvi Strategy
Amid limited cues from the global markets, domestic stock markets are likley to begin on a positive note, Zee Business Managing Editor Anil Singhvi said. Barring a few, all major markets across the world are closed today on account of Christmas Holiday. He expects a positive opening as markets are light on account of four-day selling in the previous week. Amid positive global markets, positive domestic institutional investors (DIIs), negative foreign institutional investors (FIIs), neutral futures & options (F&O) and negative sentiment cues, the short-term trend of the Indian stock markets will be positive on Monday, December 26, 2022.
Anil Singhvi Strategy on Nifty, Bank Nifty - key support and resistance levels
Anil Singhvi Strategy on Nifty, Bank Nifty - key support and resistance levels
Anil Singhvi Strategy on Nifty, Bank Nifty - key support and resistance levels
Anil Singhvi Strategy on Nifty, Bank Nifty - key support and resistance levels
Rupee Vs Dollar - Strategy from expert
With dollar index flat at 104.32 brent oil at $ 84.50 per barrel and US 10 year yields at 3.75 per cent rupee may open at 82.84 and remain in a range of 82.60 to 83.20 as we approach the month end, quarter end and year end, Anil Kumar Bhansali, Head of Treasury at Finrex Treasury Advisors LLP said.
Asian currencies are flat and so are all Asian equities. Today is US holiday so cash demand of dollar will not be there. Till RBI protects the rupee we may see it
hovering above 83.00, he said. Exporters may sell near to 82.90 while importers to buy dips for all near term payables, 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: Stocks in News are Wipro, Tata Motors, United Breweries, Dabur others
-- TATA MOTORS
Delhi Transport Corporation (DTC) signs a definitive agreement for procurement of 1500 buses with Tata Motors subsidiary TML CV Mobility Solutions. An agreement has been made for procuring 12-meter low floor buses over a period of 12 years. It is the biggest order for electric buses given by DTC.
-- Dabur India Limited's subsidiary Tunisie will be dissolved by 31 December 2023. There has been a delay because of Covid-19 pandemic.
UNITED BREWERIES LTD's appeal against a Competition Commission of India (CCI) order has been rejected by NCLAT. The competition watchdog imposed a fine of Rs 751.38 crore on the liquor company in a 24 September 2021 order for indulging in anti-competitive practices.
-- WIPRO LTD has completed a partial investment of USD 1.5 million (Rs 12.3 crore) in US-based Kibsi on 23 December 2023. The company offers servises in computer vision application.
Markets LIVE: Startegy on 20 Stocks in today's Traders Diary
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 Research Analyst Ashish Chaturvedi and Kushal Dubey recommends a buy, sell or hold strategy in cash stocks, futures and give their best picks for today.
Friday Market Recap
Indian equity markets ended in red on Friday registering fourth consecutive decline this week. Frontline indices S&P BSE Sensex and NSE Nifty50 crashed today, weighed down by a host of local and external factors. Sensex closed at 59,885.23, down by 980.93 points or 1.61 per cent while the broader market Nifty50 settled at 17,825.80, down 301.55 points or 1.66 per cent.
Over the week, while the 50-stock Nifty50 has decilned by 2.5 per cent, Sensex has fallen 2.4 per cent accoring to data sourced from Trendlyne.
Indian shares posted their worst performance in six months hit by US economic data as the country reported better than estimated GDP growth numbers from July through September despite sharp interest rate hikes being undertaken by the US Federal Reserve. This has sparked fears of further monetary tightening as inflation remains high in the world’s largest economy.
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