Share Market HIGHLIGHTS: Nifty50, Nifty Bank, Sensex clock record closing highs after RBI maintains status quo on repo rate, raises GDP forecast
Share Market HIGHLIGHTS: Domestic equity benchmarks Nifty and Sensex scaled fresh record closing highs after the RBI maintained a status quo on the repo rate and the policy stance at the end of a bi-monthly review, and raised its forecast for the countrys GDP growth by 50 bps to 7.0 per cent for the year ending March 2024. Catch all the highlights of the December 8 session on Dalal Street, and much more, only on Zeebiz.coms blog.
Share Market HIGHLIGHTS: Domestic equity benchmarks continued to rise following a day's gap, with the Nifty50 crossing the 21,000 market for the first time ever, after the RBI maintained a status quo on the repo rate and the policy stance at the end of a bi-monthly review, and raised its forecast for the country's GDP growth by 50 bps to 7.0 per cent for the year ending March 2024.
Catch al the highlights of the December 8 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 only on Zeebiz.com's blog:
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Share Market Today | Nifty50, Nifty Bank, Sensex clock record closing highs
Headline indices Sensex and Nifty as well as the high-beta Nifty Bank gauge finish the day at their highest closing levels.
The Sensex gains 303.9 points, or 0.4 per cent, to end at 69,825.6, the Nifty50 adds 68.3 points, or 0.3 per cent, to finish at 20,969.4, and the high-beta banking gauge leaps 420.6 points, or 0.9 per cent, to settle at 47,262.
Here's how the blue-chip indices moved during the course of the day:
Nifty50
Share Market Today LIVE | Nifty Bank hits fresh all-time high of 47,289.45
Share Market Today LIVE | JP Morgan sees over 17% upside in Apollo Tyres shares—here is why
Shares of Apollo Typres gain over two per cent on Friday, December 8, after global brokerage JP Morgan raised Apollo Typres' target price by Rs 60, translating an upside of 17.5 per cent from current levels. Apollo Typres gain as much as 2.3 per cent to hit the day's high of Rs 465.85 on the NSE.
JP Morgan has maintained an overweight rating on Apollo Tyres. The global brokerage has raised the target to Rs 535 from Rs 475 on the back of volume recovery in replacement tyres (especially trucks) in India, the bottoming of growth and margins in the Europe business, stable commodities and rational pricing, and prudent capital allocation, which should drive deleveraging and improvement in return on capital employed (ROCE). Read more
Share Market Today LIVE | Orchid Pharma shares hit 20% upper circuit as Investec initiates 'Buy' citing strong growth
Orchid Pharma shares hit the 20 per cent upper circuit on the BSE at Rs 678.4 apiece. The stock jumps after brokerage firm Investec initiates a 'buy' call on the counter, citing strong growth over the next three years as the new management (Dhanuka Group), as per the brokerage, continues to deliver.
According to the brokerage, the company's earnings before interest, tax, interest, depreciation, and amortisation (EBITDA) have doubled in the last three years. Further, the debt is also reduced. Read more
Share Market Today LIVE | BHEL, DLF, Nestle India, other stocks clock 52-week highs
As many as 62 stocks in the BSE 500 basket — the broadest index on the bourse — reached the milestone.
Stock CMP 52 Weeks High Previous 52 Weeks High(Price/Date) All Time High(Price/Date) ALOKTEXT 22.32 23.4 22.54 (20 Nov 2023) 220.00 (19 Dec 1994) BDL 1,327.05 1,389.00 1,312.00 (07 Dec 2023) 1,389.00 (08 Dec 2023) BHEL 173.9 184.9 184.30 (07 Dec 2023) 2,925.00 (07 Nov 2007) BSOFT 649.5 666.95 661.40 (07 Dec 2023) 740.00 (02 Jan 2007) CENTURYTEX 1,299.00 1,363.05 1,354.70 (05 Dec 2023) 11,400.00 (03 Feb 1994) COCHINSHIP 1,248.20 1,329.00 1,313.25 (07 Dec 2023) 1,329.00 (08 Dec 2023) COFORGE 5,766.95 5,915.75 5,842.60 (20 Nov 2023) 6,133.00 (04 Jan 2022) CONCOR 836.6 859.75 847.00 (07 Dec 2023) 2,444.00 (27 Jun 2007) COROMANDEL 1,227.00 1,252.55 1,250.90 (07 Dec 2023) 1,252.55 (08 Dec 2023) DLF 642.35 663.9 660.00 (06 Dec 2023) 1,225.00 (15 Jan 2008) GMRINFRA 69.62 70.17 66.75 (25 Aug 2023) 1,005.00 (13 Jul 2007) GODREJAGRO 519.55 530 528.00 (18 Jul 2023) 746.80 (04 Aug 2021) GODREJPROP 1,913.20 1,956.00 1,951.50 (07 Dec 2023) 2,598.00 (14 Oct 2021) GRASIM 2,054.00 2,099.65 2,087.50 (07 Dec 2023) 5,348.50 (05 Aug 2016) HAL 2,707.45 2,782.90 2,753.90 (06 Dec 2023) 4,180.00 (11 Sep 2023) HCLTECH 1,358.50 1,369.75 1,350.00 (04 Dec 2023) 3,021.00 (21 Feb 2000) HINDCOPPER 186.95 191.9 184.20 (07 Dec 2023) 656.95 (20 Jan 2010) HOMEFIRST 1,035.60 1,055.00 1,038.15 (07 Dec 2023) 1,055.00 (08 Dec 2023) INDHOTEL 433.6 444.45 442.50 (07 Dec 2023) 1,584.00 (10 May 2006) INDIACEM 257.05 268.65 267.00 (07 Dec 2023) 333.00 (14 Dec 2007) IRB 39 40.95 39.48 (24 Nov 2023) 346.95 (25 Oct 2021) IRCTC 743.5 769.9 762.00 (07 Dec 2023) 6,393.00 (19 Oct 2021) ISEC 718.3 732 729.00 (07 Dec 2023) 895.60 (13 Oct 2021) JKLAKSHMI 876.8 903.4 900.00 (07 Dec 2023) 2,277.50 (10 Dec 1991) JSWENERGY 451 476.65 460.95 (07 Dec 2023) 476.65 (08 Dec 2023) JSWSTEEL 835.2 853.1 840.00 (12 Sep 2023) 1,886.50 (08 Sep 2016) JUBLPHARMA 479.9 491.95 484.55 (01 Sep 2023) 1,345.00 (11 Mar 2004) LICHSGFIN 528.05 544 527.00 (07 Dec 2023) 1,496.50 (29 Sep 2010) LICI 775 803.35 799.90 (07 Dec 2023) 920.00 (17 May 2022) LT 3,387.00 3,430.00 3,409.15 (07 Dec 2023) 4,670.00 (01 Nov 2007) LTIM 5,683.05 5,750.95 5,668.25 (06 Dec 2023) 7,595.25 (04 Jan 2022) LTTS 4,903.85 4,985.00 4,974.25 (07 Dec 2023) 5,958.10 (04 Jan 2022) MANYAVAR 1,476.25 1,481.35 1,464.90 (07 Dec 2023) 1,501.00 (06 Oct 2022) MCX 3,197.25 3,343.05 3,324.45 (07 Dec 2023) 3,343.05 (08 Dec 2023) MGL 1,145.60 1,178.40 1,171.95 (07 Dec 2023) 1,345.00 (03 Nov 2017) NBCC 77.87 82.56 81.48 (07 Dec 2023) 1,214.50 (06 Aug 2015) NCC 174.7 182.85 178.00 (07 Dec 2023) 1,174.90 (22 Aug 2005) NESTLEIND 25,024.65 25,185.70 25,164.50 (07 Dec 2023) 25,185.70 (08 Dec 2023) NHPC 62.33 65.73 64.80 (07 Dec 2023) 65.73 (08 Dec 2023) NMDC 181.85 189.05 186.95 (06 Dec 2023) 16,584.10 (06 Nov 2007) NOCIL 254.15 261.5 254.90 (14 Sep 2023) 3,500.00 (31 Mar 1992) NTPC 281.95 291.85 288.95 (06 Dec 2023) 291.85 (08 Dec 2023) PFC 380.45 390.6 387.85 (06 Dec 2023) 390.60 (08 Dec 2023) PNB 85.06 88.1 87.20 (07 Dec 2023) 1,395.00 (09 Nov 2010) POLYCAB 5,410.80 5,519.00 5,492.85 (18 Oct 2023) 5,519.00 (08 Dec 2023) POWERGRID 227.85 233.4 232.35 (07 Dec 2023) 266.85 (31 Jul 2023) PRESTIGE 1,168.65 1,179.05 1,157.55 (07 Dec 2023) 1,179.05 (08 Dec 2023) PRSMJOHNSN 180.75 191.8 185.45 (05 Dec 2023) 191.80 (08 Dec 2023) RBLBANK 260.5 276.4 262.90 (07 Dec 2023) 716.55 (28 May 2019) RCF 150.1 157.65 155.35 (07 Dec 2023) 157.65 (08 Dec 2023) RECLTD 400.8 409 408.00 (06 Dec 2023) 409.50 (11 Oct 2010) SANOFI 8,176.70 8,277.60 8,266.65 (04 Dec 2023) 9,300.00 (10 Aug 2021) SHREECEM 27,600.00 28,151.10 28,149.95 (06 Dec 2023) 32,050.00 (09 Apr 2021) SHYAMMETL 508.85 526.05 523.40 (06 Dec 2023) 526.05 (08 Dec 2023) SJVN 87 92.04 91.76 (07 Dec 2023) 92.04 (08 Dec 2023) SUNTV 669.5 703.2 688.00 (17 Nov 2023) 1,849.00 (08 Feb 2007) SWANENERGY 467.35 487 463.45 (12 Nov 2023) 4,928.25 (12 Oct 2006) SWSOLAR 390.7 415 408.75 (07 Aug 2023) 755.50 (20 Aug 2019) TATACOFFEE 282 286.35 286.00 (06 Dec 2023) 1,675.00 (08 May 2013) TATAMOTORS 708.9 727.5 727.45 (07 Dec 2023) 1,381.40 (06 Dec 2010) TATAPOWER 320 335.8 332.00 (07 Dec 2023) 3,500.00 (29 Jan 1992) TITAN 3,620.95 3,635.00 3,595.00 (07 Dec 2023) 4,765.00 (14 Jun 2011) Share Market Today LIVE | Nifty slips below 20,900, Sensex off day's high
Nifty Today LIVE | HDFC Bank, L&T, Infy, HCL Tech among top movers in Nifty50
On the contrary, ITC, Bajaj Finance, M&M and Adani Ports are among the top drags.
Here's a look at the heatmap in the 50-scrip universe by weight:
Source: NSE
Share Market Today LIVE | L&T, Power Grid, HCL Tech 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) All Time High(Price/Date) HCLTECH 1,364.25 1,369.75 1,350.00 (04 Dec 2023) 3,021.00 (21 Feb 2000) JSWSTEEL 844.05 853.1 840.00 (12 Sep 2023) 1,886.50 (08 Sep 2016) LT 3,420.45 3,421.05 3,409.15 (07 Dec 2023) 4,670.00 (01 Nov 2007) NESTLEIND 25,106.15 25,185.70 25,164.50 (07 Dec 2023) 25,185.70 (08 Dec 2023) NTPC 286.6 291.85 288.95 (06 Dec 2023) 291.85 (08 Dec 2023) POWERGRID 231.4 233.4 232.35 (07 Dec 2023) 266.85 (31 Jul 2023) TATAMOTORS 717.9 727.5 727.45 (07 Dec 2023) 1,381.40 (06 Dec 2010) TITAN 3,603.05 3,610.00 3,595.00 (07 Dec 2023) 4,765.00 (14 Jun 2011) Share Market Today LIVE | Nifty Bank trades over 200 pts higher
Source: NSE
MARKET AT ALL-TIME HIGH | Nifty scales fresh peak of 21,006.10, above 21k for the first time
Share Market Today LIVE | Zomato 9.27 crore shares change hands; Softbank's SVF Growth likely seller
Zomato shares trade at Rs 122.1, up 0.4 per cent ot 0.33 per cent on NSE. In the pre-opening market session on Friday, December 8, 9.27 crore shares, which implies a 1.07 per cent stake, changed hands in Zomato through multiple block deals. As per Zee Business Research, Softbank's SVF Growth was expected to offload a 1.1 per cent stake in the company, which is valued at Rs 9.35 crore. Read more
Share Market Today LIVE | Rate-sensitive stocks trade in green ahead of the RBI policy decision
Rate-sensitive stocks—banking, financial services, realty, auto, and other consumer durable stocks—trade in green ahead of the Reserve Bank of India's (RBI) monetary policy decision on Friday, December 8. The policy will be announced at 10 a.m. today. Read more
All the sectoral indices trade in green except PSU Bank. Nifty Consumer Durables is up 0.35 per cent, Nifty Bank is flat with a positive bias, Nifty Financial Services is up 0.11 per cent and Nifty Realty is up 1.53 per cent. Read more
MARKET AT ALL-TIME HIGH | Nifty scales fresh peak for the 4th time in this week of 20,970
Stocks to Watch | CONCOR, Ircon, DCB Bank, Jindal Saw, other stocks
Here are some stocks that will be in focus on Friday, December 8:
CONCOR:
Container Corporation of India (CONCOR) has inked a memorandum of understanding (MoU) with NTPC Vidyut Vyapar Nigam Ltd (NWN). The MoU aims to explore the possibility of setting up PV Solar renewable energy projects in CONCOR terminals.
Rate-sensitive stocks:
Banking, financial services, realty, and consumer durables stocks will be in focus on December 8 amid the RBI MPC meeting decision.
DCB Bank:
The board will consider the proposal of the Promoter Aga Khan Fund for Economic Development to invest $1 crore in the company (Rs 83 crore).
Bank of India:
The board will decide the issue price of qualified institutional placement (QIP).
Greenpanel Industries:
The company informed through a regulatory filing that temporary disruptions of operations at the company's factory located in Andhra Pradesh due to cyclone Michaung had been brought under control and normalcy had been restored. Read more
Currency Update | Rupee rises 3 paise to 83.33 against US dollar in early trade
Share Market Today LIVE | Sensex trades over 100 pts higher, Nifty near 20,950
Nifty 50
Nifty trades near 20,950, up 0.2 per cent in opening deals.
Source: NSESensex
Sensex trades over 100 pts higher at 69,642.5 in opening deals.
Source: BSE
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 20,800-20,850 levels and a strong buy zone at 20,675-20,725 levels on Thursday, December 7. For the Nifty Bank, he expects strong support at 46,450-46,650 levels and a strong buy zone at 46,225-46,375 levels.
Read more on how Anil Singhvi views the Indian share market today and what he recommends
RBI Monetary Policy Updates | Will Shaktikanta Das keep key rates on hold once again? Decision to be revealed at 10 am today
RBI Governor Shaktikanta Das will reveal what's in store for the economy, investors, lenders, borrowers and the common man in the last policy statement of the central bank's all-powerful Monetary Policy Committee (MPC) at 10 am on Friday, December 8. ill Shaktikanta Das announce yet another pause in the repo rate, or the key interest rate at which the RBI lends money to commercial banks? Will there be a change in policy stance? Will the RBI's rate-deciding panel, the MPC, tweak its GDP growth projections for the current financial year? Read more
Share Market Today LIVE | GIFT Nifty futures indicate a positive start ahead on Dalal Street
GIFT Nifty futures — an early indicator of the Nifty 50 index — are up 49.15 points or 0.23 per cent at 21,083 ahead of the opening bell on Dalal Street.
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