Share Market HIGHLIGHTS: Sensex jumps 431 pts to 69,296, Nifty50 at 20,855 as bulls take D-Street to fresh record closing highs
Share Market HIGHLIGHTS: Domestic equity benchmarks Nifty 50 and Sensex scaled fresh record closing highs on Tuesday. Catch all the highlights of the December 5 session on Dalal Street, market commentary and analysis, the views of Zee Business Managing Editor Anil Singhvi and other experts, stock recommendations, and much more, on Zeebiz.coms blog.
Share Market HIGHLIGHTS: Domestic equity benchmarks Nifty 50 and Sensex scaled fresh record closing highs on Tuesday, powered by gains in financial and energy stocks, while victories for the ruling party in state elections boosted momentum. Financial services-linked indices such as financials, banks, public sector banks and private banks gained between 0.9 per cent and 1.5 per cent for the day. Several brokerages picked financials and largecaps as their top preferences, anticipating a rally in domestic equities ahead of 2024 general elections.
Catch all the highlights of the December 5 session on Dalal Street, market commentary and analysis, the views of Zee Business Managing Editor Anil Singhvi and other experts, stock recommendations, and much more, on Zeebiz.com's blog:
Latest Updates
Closing Bell | Sensex jumps 431 pts to 69,296, Nifty50 at 20,855 as bulls take D-Street to fresh record closing highs
Here's how the benchmark indices moved during the course of the day:
Nifty50
Share Market Today LIVE | M&M, Axis Bank, Power Grid, other stocks hit 52-week highs
As many as seven stocks in the S&P BSE Sensex basket reached the milestone.
Stock CMP 52 Weeks High Previous 52 Weeks High(Price/Date) All Time High(Price/Date) AXISBANK 1,130.75 1,151.50 1,128.85 (04 Dec 2023) 2,042.95 (23 Jul 2014) BHARTIARTL 1,029.80 1,046.35 1,043.05 (04 Dec 2023) 1,149.00 (10 Oct 2007) ICICIBANK 1,013.95 1,015.70 1,008.70 (24 Jul 2023) 1,796.80 (03 Dec 2014) M&M 1,688.15 1,708.00 1,674.95 (04 Dec 2023) 1,708.00 (05 Dec 2023) NTPC 285.2 286.2 279.10 (04 Dec 2023) 291.00 (15 Jan 2008) POWERGRID 222.75 222.9 215.10 (13 Nov 2023) 266.85 (31 Jul 2023) ULTRACEMCO 9,331.40 9,400.00 9,336.70 (04 Dec 2023) 9,400.00 (05 Dec 2023) Share Market Today LIVE | Nifty crosses 20,850 for the first time, scales fresh peak of 20,860.15
Share Market Tips LIVE | Buy MTAR Tech, Ion Exchnage shares, says Vikas Sethi
Vikas Sethi of Sethi Finmart recommends buying MTAR Tech shares for a target of Rs 2,400 with a stop loss at Rs 2,260. Besides, he recommends buying Ion Exchnage shares for a target of Rs 600 with a stop loss at Rs 560.
Share Market Tips LIVE | Buy MTAR Tech, Ion Exchnage shares, says Vikas Sethi
Vikas Sethi of Sethi Finmart recommends buying MTAR Tech shares for a target of Rs 2,400 with a stop loss at Rs 2,260. Besides, he recommends buying Ion Exchnage shares for a target of Rs 600 with a stop loss at Rs 560.
Share Market Tips LIVE | Buy MTAR Tech, Ion Exchnage shares, says Vikas Sethi
Vikas Sethi of Sethi Finmart recommends buying MTAR Tech shares for a target of Rs 2,400 with a stop loss at Rs 2,260. Besides, he recommends buying Ion Exchnage shares for a target of Rs 600 with a stop loss at Rs 560.
Share Market Today LIVE | Nifty IT trades nearly 300 pts lower
Source: NSE
Share Market Today LIVE | Nifty IT trades nearly 300 pts lower
Source: NSE
Share Market Today LIVE | M&M Financial shares slip 2% post-monthly business update—here's what brokerages suggest
Mahindra & Mahindra Financial Services shares on Tuesday, December 5, declines nearly three per cent to touch the day's low of Rs 269.8 on the BSE, a day after the NBFC posted its monthly business update post-market hours on Monday. The stock trades 2.41 per cent lower at Rs 271 on BSE.
M&M Financial share price target: Here's what brokerages suggest
BoFA Securities has retained a neutral stance on M&M Financial Services with a target of Rs 327. The global brokerage remains a firm believer in the company’s transformation journey; however, it sees scope for near-term disappointment on the NIM contraction and elevated opex, with 2.5 per cent return on assets (ROA) target visibility rising only in FY25. Read more
Share Market Today LIVE | As Nifty50 roars to all-time high, 10 stocks analysts recommend buying for long term
Dalal Street is clocking new highs every day and many investors, especially those who have missed the bus, are constantly looking for stock ideas for their portfolios. Here are 10 stocks that analysts are betting on from a long term perspective at the current juncture.
Polycab India
BOB Capital Markets has a 'buy' call on wire and cable manufacturer Polycab India with a target of Rs 6,100. The company continues to have strong growth prospects, and its new brand identity is aimed at driving demand and spurring FMEG business.
Manappuram Finance
ICICI Direct has a 'buy' call on gold financier Manappuram Finance with a target of Rs 200. The brokerage is positive on the NBFC's ulaltered focus on business growth with its diversification strategy gradually taking shape. Manappuram's core strength still prevails in small ticket loans, according to ICICI Direct.
UltraTech Cement
Axis Securities has a 'buy' rating on UltraTech Cement with a target of Rs 10,850, citing the cement maker's strong long-term growth prospects owing to better demand, improved realisations, increasing market share and cost optimisation initiatives. Read more
Share Market Today LIVE | Brigade Enterprises rises for sixth day in a row, longest winning streak in seven weeks; here is what is driving the realty stock
Real estate developer Brigade Enterprises' shares jump on Tuesday, continuing to rise for the sixth session in a row in the longest winning streak since October 13, after the Bengaluru-headquartered company signed a joint development agreement to develop a luxury residential project with a gross development value of Rs 300 crore. The stock of Brigade Enterprises, which has a strong project pipeline, jumps by as much as Rs 47, or 5.6 per cent, to Rs 891.7 apiece on BSE.
The project, spread over four acres of land in Kurubarahalli, Mysore, next to the JW Golf Club Mysuru, will have a developable area of about 0.40 million square feet, the developer said in a regulatory filing post-market hours on Monday. Read more
Share Market Today LIVE | Nifty Bank trades nearly 400 pts higher
Source: NSE
Share Market Today LIVE | Zomato trades lower even as HSBC assigns 'buy' rating
Shares of Zomato, the only new-age tech company that is topping the space in terms of gains over the issue price, have run up splendidly on a year-to-date (YTD) basis. The stock's YTD return is at 97.22 per cent, while in one year, the stock has climbed 78.76 per cent. Shares of the company in trade on Tuesday are trading with a marginal cut at Rs 117.1, down 0.17 per cent. Global brokerage HSBC has maintained its buy on the food services aggregator and set a target of Rs 140. This is a significant upside of 20 per cent from the last closing price of Rs 117.4. Read more
Share Market Today LIVE | HCL Tech slips after it sells 49% stake in its UK subsidiary
HCL Tech shares start the trading session on Tuesday (November 5, 2023) on a lower note after the tech firm announced it would sell a 49 per cent stake in its UK subsidiary. The shares trade down by 1.45 per cent, or Rs 19.4, at Rs 1,318.55 each on BSE. In an announcement post market hours on Monday, HCL Tech said that it would sell its 49 per cent stake for USD 170 million, or Rs 1411 crore. Read more
Anil Singhvi Market Strategy | Important levels to track in Nifty50, Nifty Bank today
Zee Business Managing Editor Anil Singhvi sees strong support for the headline Nifty50 index emerging at 20,500-20,600 levels and a "blue-sky zone" above 20,725 on Tuesday, December 5. For the Nifty Bank, he expects a blue-sky zone above 46,550.
Read more on how Anil Singhvi views the Indian share market today and what he recommends
Stocks to Watch | HCL Tech, Patanjali Foods, Garden Reach Shipbuilders, Gabriel India, other stocks
Here are some stocks that will be in focus on Tuesday, December 5:
M&M Financial Services:
In its monthly business update, the company said it estimated the overall disbursement at approximately Rs. 5,300 crores, delivering a 16 per cent growth over the previous year.
HCL Tech:
The company's UK arm will sell a 49 per cent stake in a joint venture to State Street for $170 million plus net book value on the date of closing. The transaction is expected to be completed in the second calendar quarter of 2024.
Patanjali Foods:
The company will hold analyst and investor meetings on December 5, 2023, and December 6, 2023, respectively, from 9:00 a.m. onwards.
Garden Reach Shipbuilders & Engineers:
Defence PSU Garden Reach Shipbuilders and Engineers (GRSE) Ltd on Monday delivered the “largest-ever” survey vessel to be built in the country- INS Sandhayak- to the Indian Navy, according to PTI. Read more
Currency Update | Rupee falls 3 paise to all-time low of 83.41 against US dollar in early trade
Share Market Today LIVE | Nifty trades near 20,750, Sensex trades over 230 pts higher
Nifty 50
Nifty trades 0.27 per cent higher at 20,742.95 in early morning deals.
Source: NSESensex
Sensex trades over 230 points higher at 69,096.72 in opening deals.
Source: BSE
Share Market Today LIVE | Indian shares set to open at new record highs while global rally eases
Domestic benchmark indexes are set to open at fresh record highs on Tuesday, after scaling new peaks in the previous session on strong macroeconomic data, elevated bets of a US rate cut in March and the ruling BJP's win in key state elections.
Share Market Today LIVE | GIFT Nifty futures indicate sluggish start ahead on Dalal Street
GIFT Nifty futures — an early indicator of the Nifty 50 index — are up 9.45 points or 0.05 per cent at 20,813.5 ahead of the opening bell on Dalal Street.
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