Stock Market HIGHLIGHTS: Sensex ends 370 points up, Nifty gains 120 points; Hindalco, Tata Steel top gainers
Stock Market HIGHLIGHTS: Indian markets traded in a range on Tuesday offering buying and selling opportunities to the traders and investors. Indian frontline indices S&P BSE Sensex and NSE Nifty50 closed positive for second straight session. While Sensex finished at 60,939.23, up 372 points or 0.62 per cent, the broader market Nifty50 was trading at 18,132.30, higher by 117 points or 0.65 per cent. Banking gauge Nifty Bank was trading a 42,859.50, up by 229.35 points or 0.54 per cent.
Here are top highlights from the day's action:
1) In the 50-stock Nifty, 40 stocks advanced, 9 declined while 1 remained unchanged. The top gainers were Tata Motors, Hindalco Industries, ONGC, Tata Steel and JSW Steel while top losers were Hindustan Unilever, Apollo Hospitals, Nestle India, Mahindra & Mahindra and ITC.
2) Nifty FMCG was the sole loser out of 15 Nifty Sectoral Indices. The top gainers were Nifty Metal (+4.29 per cent), Nifty Realty (+1.29 per cent), Nifty Media (+1.19 per cent).
3) India VIX, a measure of volatility in Nifty was down 4 per cent at 15.
4) Buying occurred in broader markets as well, with Nifty Mid Cap 100 and Nifty Small Cap 100 ending 1 per cent up. In the 100 stock Nifty Mid Cap 100, 74 stocks advanced. The biggest gainers were Jindal Steel, National Aluminium and SAIL while the top losers were Varun Beverages, Crompton Greaves and Laurus Labs. In the Nifty Small Cap 100, 82 advanced. The top gainers were Maharashtra Bank, Praj Industries and Triveni Engineering while the top losers were Amara Raja Batteries, BCG and Sunteck.
5) Out of 3,631 stocks that were trading on the BSE, advances were 2,579, declines were 919 while 133 stocks remained unchanged. 59 stocks hit their 52-week highs while 35 hit their 52-week lows.
6) Rupee falls 20 paise to close at 82.85 (provisional) against US dollar. USDINR December futures were trading at 82.8600 on the BSE, up 0.1675 or 0.20 per cent.
7) Singapore-based SGX Nifty was trading at 18,148, up 119 points or 0.66 per cent. Dow 30 Futures were trading at 33,418.20, up 241 points or 0.73 per cent.
8) Asian benchmark indices were also trading in the green with Japan's Nikkei 225 trading at 26,447.90, up by 42 points or 0.16 per cent while Shanghai Composite was trading higher by 30 points or 0.98 per cent at 3,095.57. Mood remains upbeat as China relaxes Covid-19 restrictions as the country cancels quarantine rules for travelers. The infection has been downgraded to Category A and Category B. New rules will come into effect from 8 January 2023. Markets in Hong Kong, UK, Australia and Canada are closed today while US markets will open for trading on Tuesday.
9) Crude oil futures were trading at USD 80.200, up by 0.640 or 0.80 per cent on the Comex. January Futures were trading at Rs 6673 per barrel, up by Rs 21 or 0.32 per cent.
10) MCX Gold futures were trading at Rs 54837 per 10 gram, up by Rs 160 or 0.29 per cent. March Silver futures were trading at Rs 70098 per kg, up by Rs 1023 or 1.48 per cent.
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Stock Market HIGHLIGHTS: Indian markets traded in a range on Tuesday offering buying and selling opportunities to the traders and investors. Indian frontline indices S&P BSE Sensex and NSE Nifty50 closed positive for second straight session. While Sensex finished at 60,939.23, up 372 points or 0.62 per cent, the broader market Nifty50 was trading at 18,132.30, higher by 117 points or 0.65 per cent. Banking gauge Nifty Bank was trading a 42,859.50, up by 229.35 points or 0.54 per cent.
Here are top highlights from the day's action:
1) In the 50-stock Nifty, 40 stocks advanced, 9 declined while 1 remained unchanged. The top gainers were Tata Motors, Hindalco Industries, ONGC, Tata Steel and JSW Steel while top losers were Hindustan Unilever, Apollo Hospitals, Nestle India, Mahindra & Mahindra and ITC.
2) Nifty FMCG was the sole loser out of 15 Nifty Sectoral Indices. The top gainers were Nifty Metal (+4.29 per cent), Nifty Realty (+1.29 per cent), Nifty Media (+1.19 per cent).
3) India VIX, a measure of volatility in Nifty was down 4 per cent at 15.
4) Buying occurred in broader markets as well, with Nifty Mid Cap 100 and Nifty Small Cap 100 ending 1 per cent up. In the 100 stock Nifty Mid Cap 100, 74 stocks advanced. The biggest gainers were Jindal Steel, National Aluminium and SAIL while the top losers were Varun Beverages, Crompton Greaves and Laurus Labs. In the Nifty Small Cap 100, 82 advanced. The top gainers were Maharashtra Bank, Praj Industries and Triveni Engineering while the top losers were Amara Raja Batteries, BCG and Sunteck.
5) Out of 3,631 stocks that were trading on the BSE, advances were 2,579, declines were 919 while 133 stocks remained unchanged. 59 stocks hit their 52-week highs while 35 hit their 52-week lows.
6) Rupee falls 20 paise to close at 82.85 (provisional) against US dollar. USDINR December futures were trading at 82.8600 on the BSE, up 0.1675 or 0.20 per cent.
7) Singapore-based SGX Nifty was trading at 18,148, up 119 points or 0.66 per cent. Dow 30 Futures were trading at 33,418.20, up 241 points or 0.73 per cent.
8) Asian benchmark indices were also trading in the green with Japan's Nikkei 225 trading at 26,447.90, up by 42 points or 0.16 per cent while Shanghai Composite was trading higher by 30 points or 0.98 per cent at 3,095.57. Mood remains upbeat as China relaxes Covid-19 restrictions as the country cancels quarantine rules for travelers. The infection has been downgraded to Category A and Category B. New rules will come into effect from 8 January 2023. Markets in Hong Kong, UK, Australia and Canada are closed today while US markets will open for trading on Tuesday.
9) Crude oil futures were trading at USD 80.200, up by 0.640 or 0.80 per cent on the Comex. January Futures were trading at Rs 6673 per barrel, up by Rs 21 or 0.32 per cent.
10) MCX Gold futures were trading at Rs 54837 per 10 gram, up by Rs 160 or 0.29 per cent. March Silver futures were trading at Rs 70098 per kg, up by Rs 1023 or 1.48 per cent.
Catch all the UPDATES from the stock markets here. For all other news related to business, politics, sports, tech, auto and others, visit Zee Business.com.
Latest Updates
Commodity LIVE - Trades on MCX
Source: MCX
IPO Watch - Radiant Cash Management Services
The public issue of Radiant Cash Management Services ends today. The issue is overall subscribed 0.06 times on the NSE. The retail portion has been subscribed 0.09 times. The issue opened on 23rd December.
Source: NSE
Stock to Buy - JBM Auto
Markets LIVE - Why are milk stocks in action today?
Milk stocks were in actiontoday. The trigger was Mother Dairy increasing price in Delhi-NCR. The company has raised prices by Rs 2 per litre. The new rates come into force from today. There is no change in the price of cow milk and token milk.
Price hikes this year
In 2022, Mother Dairy has increased prices five times.
In November, the company increased price of full cream milk by Re 1 while Rs 2 hike on token milk
In October, Rs 2 hike in full cream milk price
In August and March, Rs 2 hike in full cream milk price
The prices have gone up by Rs 8-10 which transates into 15-20 per cent increase.
Whay are prices going up?
The prices have gone up because of 7-8 per cent supply side issues due to lumpy virus.
The cost of logistics and packaging material has increased
Positives for Milk Companies
Dodla Dairy
Hatsun Agro
Parag Milk
Negative
Tea Companies
Hotel / Restaurant stocks
Ice Cream companies
Research from Varun Dubey
Commodity LIVE - Expert take on Gold, Crude Oil
Gold
"COMEX Gold has been hovering near $1800/oz since price corrected after some encouraging US economic data in the previous week. Speculative demand witnessed further addition in longs as indicated by the CFTC data as of December 20. However, investment demand has been muted although mild inflows were witnessed in the previous week. We expect the prices to remain range bound amid lack of triggers and thin volume amid year-end holiday season. On the price front we maintain that the range bound move will continue until the range of USD 1778-1830/oz breaks on closing basis," Ravindra Rao,CMT, EPAT, VP-Head Commodity Research - Kotak Securities Ltd said.
Crude
"WTI Crude oil registered second week of solid gains trading near $80.50/bbl. Recently crude oil has been supported by expectation of cold weather in US. Freezing temperatures has shut power and energy
production across US pushing heating oil prices higher. Around 1.5 million barrels of daily refining capacity have been shut along the Gulf coast due to freezing temperatures. Although the disruption in production is temporary it has lifted the oil prices. Crude also garnered support from the news that Russia might cut production in response to price oil cap on Russian oil, imposed by G7 and European oil. On the technical front, as expected price is trading close to the mentioned target of $81.50 after the falling trend line was penetrated in the previous week. We still maintain that the bulls might target $81.50 before we see some corrective move as 52 DMA resistance is placed near $82/bbl that could limit further gains in oil," Rao 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 Focus - Zomato, Nykaa, Policy Bazaar
Investors holding stocks of new age companies like FSN-E Commerce Ventures Limited (Nykaa), PB Fintech (Policy Bazaar) and Zomato should hold the shares and not sell them on just any price, Zee Business Managing Editor Anil Singhvi recommends.
Emphasizing that the worst is behind these shares, he said that there was ban and panic which led to corrections in these stocks.
A lot of times when you are unable to sell at the right price, you must not look to sell it at any price that comes your way, the Market Guru said.
There is a temptation that if one has not sold the stock at 18800 then one must sell it at 17,800 and this should not be down, Singhvi advised.
Markets LIVE - Broader market action
Stock specific action was seen in broader markets. In the 100-stock Nifty Mid Cap 100, 68 stocks gained while 31 declined and 1 remained unchnged. The top gainers Jindal Steel, Adani Wilmar, National Aluminium while top losers were Laurus Labs, Trent, Max Health and Abbott India.
Markets LIVE - Nifty Metal shares shine
Nifty Metal index was in focus today on news of China reopening. All stocks in the 15-share index were gainers around this time. Jindal Steel shares were top gainers and were up 6 per cent on the intraday basis. National Aluminium and SAIL were other top gainers.
Source: NSE
Markets LIVE - Top index contributors in Sensex
Source: BSE
Markets LIVE - Stocks in news is DLF
DLF Share Price: Shares of real estate company DLF fell on Tuesday on news of Noida Authority slapping a Rs 235 crore penalty on the company. The stock was trading at Rs 370.30, down by Rs 0.45 or 0.12 per cent around 10:15 am. While the company has denied receiving any notice, market expert Rakesh Bansal has told Zee Business that investors must not panic on the news.
He said that the notice should not be a worry for investors as the company may not have to pay amount.
DLF has been asked to pay the fine in a land dispute with the authority with respect to Mall of India in Noida.
Another expert Himanshu Gupta has suggested a buying strategy in this stock. DLF has shown a rebound from an important support level in the Monday trade, Gupta said.
Read More: DLF gets Rs 235 crore notice: Why investors must not panic after Noida Authority action
Markets LIVE - Nifty Sectoral Indices
Sensex, Nifty corrected amid profit booking in certain sectors. Out of the 15 sectoral indices 7 were in the red. The top losers were Nifty Bank and Financial Services and NIfty FMCG. PSU Bank stocks also witnessed profit booking after hogging the limelight on Monday. The Nifty PSU Bank index was up over 7 per cent. Nifty Metal and consumer durable stocks were holding the markets.
Stocks in News - DLF, Tata Motors
DLF stocks fell on NSE on Tuesday on news of Noida Authority slapping a Rs 235 crore penalty on the real estate company. The company has been asked to pay the fine in dispute related to Mall of India land. The stock was trading at Rs 370.40, down by Rs 0.35 or 0.09 per cent. The company has denied receiving any notice.
Tata Power shares were trading at in the green on NSE. The counter was trading at Rs 205.45, up by Rs 2.30 1.13 per cent. The company is likley to benefit from the record power consumption in Decemeber month in the national capital. The power consumption has shattered all records since 2019. The peak power demand today was 4803 MW. In 2019, the peak power demand stood at 5245 MW. It is being estimated that the demand in this season could go up to 5500 MW.
NTPC shares were trading down 0.27 per cent and were trading at Rs 165.20 on the NSE
Currency LIVE - How Global Currencies Were Trading
Markets LIVE - BSE Sensex Top Gainers and Losers
Market LIVE: Nifty in Chart
Source: NSE