Share Market HIGHLIGHTS: Sensex leaps 358 pts to 69,654, Nifty at 20,938 as bulls take D-St to fresh record closing peaks
Share Market HIGHLIGHTS: Domestic equity benchmarks Nifty 50 and Sensex advanced to fresh record highs for a third straight session on Wednesday, December 6, boosted by energy stocks on moderating oil prices and IT shares on growing bets of an interest rate cut in the US. Catch minute-by-minute updates of all the action on Dalal Street on December 6 with Zeebiz.coms blog.
Share Market HIGHLIGHTS: Domestic equity benchmark Nifty 50 and Sensex raced to fresh record highs for a third consecutive session on Wednesday, December 6, driven by strong buying interest in energy stocks on moderating oil prices as well as IT shares on growing bets of a reduction in benchmark interest rates in the US.
Catch minute-by-minute updates of all the action on Dalal Street, market commentary and analysis, the views of Zee Business Managing Editor Anil Singhvi and other experts, stocks recommendations, and much more on Zeebiz.com's blog:
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Closing Bell | Sensex leaps 358 pts to 69,654, Nifty at 20,938 as bulls take D-St to fresh record closing peaks
Domestic benchmark indices Sensex and Nifty leaped around 0.5 per cent each to fresh record closing highs on Wednesday, driven by energy and IT shares. The Nifty 50 rose 82.6 points to end at 20,937.7 and the Sensex climbed up 357.6 points to settle at 69,653.7.
Here's how the indices moved during the course of the day:
Nifty50
Sensex
Images: NSEIndia.com, BSEIndia.com
Share Market Today LIVE | L&T, M&M, Nestle India, other stocks hit 52-week highs
As many as eight stocks in the S&P BSE Sensex basket reached the milestone.
Stock CMP 52 Weeks High Previous 52 Weeks High(Price/Date) LT 3,391.60 3,400.00 3,347.25 (04 Dec 2023) M&M 1,701.60 1,710.45 1,708.00 (05 Dec 2023) NESTLEIND 24,962.60 25,103.80 24,735.50 (20 Oct 2023) NTPC 280.95 288.95 286.40 (05 Dec 2023) POWERGRID 224.05 226.25 223.20 (05 Dec 2023) SUNPHARMA 1,240.20 1,257.40 1,242.00 (05 Dec 2023) TATAMOTORS 721.75 724.5 717.00 (30 Nov 2023) TITAN 3,548.00 3,572.00 3,550.00 (05 Dec 2023) Share Market Today LIVE | Nifty IT trades over 350 pts higher
Source: NSE
Share Market Today LIVE | Angel One notches over 10% gains to mark all-time high: Know what triggered gains
Shares of the broking firm Angel One surge to a new record high of Rs 3,246 apiece on Wednesday, December 6. In its business update, the company said its month-on-month (MoM) client base in November increased by 3.8 per cent to 18.5 million. This was 12.19 million in the same period last year.
Gross client acquisition has also doubled at the broker in a year to 0.68 million. The BSE filing by the company said the average client funding book during the month stood at Rs 1,855 crore. Earlier, the company intimated about its investors meeting with Motilal Oswal Securities and PhillipCapital, which is scheduled to take place between December 4–7 and December 12, respectively. Read more
Traders' Diary | Buy, sell or hold strategy on Birlasoft, JK Tyre, Coromandel International, Vedant Fashions, Blue Dart, over a dozen other stocks today
In this edition of Traders' Diary, the Zee Business research team shares exclusive research on more than a dozen stocks that investors and traders can track on Wednesday, December 6. Here's a list of 20 stocks that are on analysts Kushal Gupta and Ashish Chaturvedi's radar.
Here's the complete list of investment and trading ideas for the day:
Kushal Gupta
- Buy JK Tyre shares in the cash segment for a target of Rs 365 with a stop loss at Rs 350
- Buy Coromandel International futures for a target of Rs 1,240 with a stop loss at Rs 1,185
- Buy the Rs 156 call option of Federal Bank at Rs 4.35 for a target of Rs 8 with a stop loss at Rs 2.5
- Technical pick: Buy Birlasoft shares for a target of Rs 658 with a stop loss at Rs 633
- Fundamental pick: Buy TCS shares for a one-year target of Rs 3,630
- Investment idea: Buy Power Grid shares for a one-year target of Rs 265. Read more
Share Market Today LIVE | Nifty Bank trades nearly 150 pts lower
Source: NSE
Stocks to Buy | Asian Paints, Nestle India among analysts' top picks today
In conversation with Zee Business Managing Editor Anil Singhvi, market experts Rakesh Bansal, Vishvesh Chauhan, Ambareesh Baliga, Kunal Saraogi, Sumeet Bagadia and Sandeep Wagle share their top recommendations for the day in this special segment, Pick of the Day.
On the top analysts' 'buy' list are stocks such as Info Edge (India), HDFC Asset Management Company (AMC), Asian Paints, Nestle, Coromandel International and SRF. Read more
Share Market Today LIVE | JK Paper, Seshasayee, West Coast, and other paper stocks advance
Shares of paper and paper product manufacturers are in high demand on Wednesday, December 6, after an exclusive report by Zee Business suggested an increase in prices in select segments within the space. Zee Business learned from sources that the prices of writing and printing paper were estimated to be increased further by Rs 5-10 kilogram in March 2024, following an increase to the tune of Rs 2-3 per kilogram with effect from December 1.
According to Zee Business research, higher demand owing to the recent state elections, the reopening of schools, and a decline in coal prices led to the increase in paper prices.
JK Paper shares trade 1.95 per cent higher at Rs 401.85 on NSE. Shares of Seshasayee Paper are trading with the gains of 1.91 per cent at Rs 354.95 on NSE. Westcoast Paper Mills shares edge higher, up 1.72 per cent at Rs 692 on NSE. TN Newsprint shares trade flat, up 0.5 per cent at Rs 280.35. Moreover, Orient Paper and Industries shares are trading 3.23 per cent higher at Rs 43.1 on NSE. Read more
Share Market Today LIVE | Patanjali Foods plans higher share of food & FMCG unit; stock clocks record high
Patanjali Foods shares scale a record high on Wendesday, after the company suggested plans to increase its market share in its food business. The stock of Patanjali Foods, which has Patanjali Ayurved as its largest shareholder, jumps by as much as Rs 48.7, or 3.2 per cent, to Rs 1,558.2 apiece on BSE, surpassing an earlier peak touched the previous day.
In a presentation to investors, Patanjali Foods said it aimed to boost its food and FMCG segment further after the unit contributed 28.5 per cent to its overall revenue in the first six-month period ended September 30, 2023 from, as against 18.4 er cent in the corresponding period a year ago and 20 per cent in the year ended March 2023. In FY23, the company earned 80 per cent of its revenue from edible oils and the rest from the food and FMCG business. Read more
Share Market Today LIVE | CLSA turns cautious on 2-wheeler stocks: Should you too?
Given the meteoric rise in two-wheeler stocks in recent months, the global brokerage firm CLSA has turned cautious on the segment and has downgraded the two-wheeler industry as a whole. The global brokerage is of the view that stocks are currently fairly valued after the sharp rally in stock prices. The brokerage attributed the recent run-up to the increase in volume owing to the festivities. "We believe the upside in the stocks has reduced due to the recent rally in stock prices, hence the downgrade," the brokerage added.
Among individual names, Hero MotoCorp has zoomed up to 23 per cent, TVS Motor gained 19 per cent, Eicher Motors rallied 21 per cent and Bajaj Auto has gained over 14 per cent in a month. 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 20,675-20,725 levels and a blue-sky zone above 20,900 on Wednesday, December 6. For the Nifty Bank, he expects strong support at 46,450-46,650 levels.
Read more on how Anil Singhvi views the Indian share market today and what he recommends
Share Market Today LIVE | Hindustan Zinc shares edge higher post board meeting; announces 300% dividend
Hindustan Zinc shares edge higher post the subsidiary of Vedanta's board meeting today. The company announced an interim dividend of Rs 6 per equity share i.e. 300 per cent payout on face value of Rs 2 per share for the Financial Year 2023-24 amounting to Rs 2535.19 crore. Hindustan Zinc shares trade 0.2 per centor Rs 0.65 higher at Rs 325.65 on NSE.
Hindustan Zinc dividend record date
The record date for the purpose of payment of interim dividend is fixed as December 14 Thursday.
Hindustan Zinc dividend payment date 2023
The interim dividend will be paid within stipulated timelines as prescribed under law, the company's regulatory filing read. Read more
Share Market Today LIVE | Nifty trades near 20,950, Sensex rises nearly 250 pts
Nifty 50
Nifty trades nearly 100 points higher, near 20,950 in opening deals.
Source: NSESensex
Sensex trades 239 points higher at 69,535 in opening deals.
Source: BSE
Currency Update | Rupee rises 2 paise to 83.35 against US dollar in early trade
Stocks to Watch | SBI, NTPC, Power Grid, Hindustan Zinc, Indraprastha Medical, other stocks
Here are some stocks that will be in focus on Wednesday, December 6:
State Bank of India (SBI):
The public sector lender will acquire a 20 per cent stake held by SBI Capital in SBI Pension Fund for Rs 229.52 crore. The acquisition will be completed by December 15. SBI currently holds a 60 per cent stake in the company.
Hindustan Zinc:
In a board meeting, a decision related to the second interim dividend will be taken.
Power Grid Corporation:
Power Grid Corporation of India Limited, through a regulatory filing, announced that it had been declared a successful bidder to establish an Inter-State Transmission System Project. The transmission system is for the evacuation of an additional 7 GW of RE power from Khavda RE park under Phase III Part B.
NTPC:
The National Company Law Appellate Tribunal (NCLAT) passed an interim order to take stay on the Competition Commission of India's (CCI) order dated August 22, 2023, which had asked the company to impose a penalty of Rs 40,00,000. NCLAT has asked to deposit 25 per cent of the penalty amount, which, according to the company filing, has already been paid. Read more
Share Market Today LIVE | GIFT Nifty futures surge past 21,000
GIFT Nifty futures — an early indicator of the Nifty 50 index — are up 91 points or 0.43 per cent at 21,044 ahead of the opening bell on Dalal Street.
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