Share Market HIGHLIGHTS: Sensex ends 132 pts lower, Nifty50 slides to 20,901 as indices halt 7-day winning run, retreat from record highs

Thank you! That's all today on Zeebiz.com's blog on the December 7 session on Dalal Street

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Closing Bell | Sensex ends 132 pts lower, Nifty slides to 20,901 as market retreats from all-time highs

Both headline indices finish the day 0.2 per cent lower, halting a seven-day-long winning streak. The Sensex sheds 132 points for the day to end at 69,521.7 and the Nifty50 slides to 20,901.2, down 36.6 points from its previous close.

Nifty50

Sensex

Images: NSEIndia.com, BSEIndia.com

Read more on the December 7 session

Share Market Today LIVE | L&T, Maruti Suzuki, other stocks hit 52-week highs

As many as seven stocks in the S&P BSE Sensex basket reached the milestone. 

Share Market Today LIVE | Nifty trades sluggish; Bharti Airtel, L&T, ITC among top drags of the basket

Source: NSE

Levying border adjustment tax to meet green commitments morally wrong says FM Nirmala Sitharaman

Finance Minister Nirmala Sitharaman says that any move on imposition of cross-border adjustment tax by developed countries to meet their green commitments is morally wrong and goes against the interest of developing countries of 'Global South'. Read more 

Share Market Today LIVE | Nifty Bank trades flat

Source: NSE

Share Market Today LIVE | PSU stock bets after assembly elections lift LIC to new 52-week high

Riding the election results, which are proving to be optimistic for PSU stocks in general, state-owned LIC has leaped by over 17 per cent in three days, considering the close on December 1. In trade on December 7, the stock marks a new 52-week high of Rs 788, a gain of 5.63 per cent over the previous close. The gains in the leading insurer are seen even as the headline indices trade under pressure after a one week-long winning run. Read more 

Share Market Today LIVE | We have to keep on putting forward concerns of Global South: Finance Minister 

"For the next few years, we have to keep on putting forward concerns of Global South," says Finance Minister Nirmala Sitharaman. 

Each country has set its agenda for 20-25 years, says Sitharaman, speaking at industry body Confederation of Indian Industry's flagship event, the CII Global Economic Policy Forum. 

Watch Live: Smt @nsitharaman's address at the @FollowCII Global Economic Policy Forum 2023 in New Delhi.#CIIGEPF2023 #GlobalProsperity #EconomicPolicyhttps://t.co/yshIPWM8z1

— Nirmala Sitharaman Office (@nsitharamanoffc) December 7, 2023

The event, which has the theme of 'Strategizing Global Prosperity: Amidst Polycrisis', is organised in the national capital from December 7 to December 8.

Deliberations at the event will focus on six key tracks:

• Economic Growth
• Global Cooperation
• Digital Transformation
• Climate Action
• Inspirations from India
• Gender Parity 

Share Market Today LIVE | Finance Minister Nirmala Sitharaman says transitional energy challenge very big, says Finance Minister Nirmala Sitharaman

In a keynote address at the CII Global Economic Policy Forum event in New Delhi, Finance Minister Nirmala Sitharaman says that the challenge of transitional energy is "very big".

"We have to increase participation in renewable energy... A lot of achievements in solar and renewable energy because it is inclusive... India’s digital achievements stand out as an example because of inclusion without corruption," says the finance minister. 

India’s fintech revolution has shown it is possible to have inclusion and better governance, Sitharaman adds. 

Image: youtube.com/@FollowCII

Share Market Today LIVE | Market breadth extremely positive, favours the bulls even as Nifty50 retreats over 100 pts from all-time high 

Overall market breadth remains in favour of the bulls in a big way, with an advance-decline ratio of 3:2 on BSE where as many as 2,091 stocks are enjoying gains against 1,374 struggling below the flatline at this hour. 

Image: BSEIndia.com

Share Market Today LIVE | Nifty Auto, Nifty PSU Bank top gainers most among NSE's sectoral indices; Nifty FMCG top laggard

Here's how the various sectors fare on NSE at this hour: 

The high-beta Nifty Bank remains volatile, up 19.6 points at the 46,854 level, having see-sawed around the flatline today so far.

Share Market Today LIVE | Buy Siemens shares, says Astha Jain

Astha Jain of HEM Securities suggests buying Siemens shares at Rs 3,800 for targets of Rs 4,050 and Rs 4,120 with a stop loss at Rs 3,550.

The tech stock has risen 5.1 per cent in five days while the Nifty50 has grown 3.4 per cent. 

Image: BSEIndia.com  

Share Market Today LIVE | Large banks to offer the highest alpha, Nifty end-of-2024 target at 23,200 

Motilal Oswal Financial Services Ltd (MOFSL) expects large banks to offer alpha returns given the rising GDP trajectory, driven by the capex cycle, may not be possible without a re-leveraging cycle. Nifty is trading at a 12-month forward price-to-earnings ratio of 18.4x, a nine per cent discount from its long-period average (LPA), according to the brokerage.

In general, financial services can benefit, according to Motilal Oswal Financial Services, which is underweight defensives citing high valuations and a slow growth outlook environment.

Read more on how MOFSL views the largecap banking space at this juncture

Share Market Today LIVE | Sumeet Bagadia positive on IRB Infra shares

Sumeet Bagadia of Choice Broking recommends buying Infrastructure Developers IRB (IRB) shares for targets of Rs 40 and Rs 42 with a stop loss at Rs 36.5. 

His target implies an upside of 12.8 per cent in the stock from its previous close. 

Share Market Today LIVE | Broader indices Nifty Midcap 100, Nifty Smallcap 100 rise up to 0.5%

The Nifty 500—the broadest index on stock exchange NSE— is holding on to the green with a gain of half a per cent at this hour, having gyrated within a tight range around the flatline in intraday trade so far.