Share Market HIGHLIGHTS: Nifty three pts shy of 21,000, Sensex up 103 pts at 69,929 as bulls take D-Street to fresh record closing highs

Share Market Today LIVE | HCL Tech, ICICI Bank, other stocks hit 52-week highs

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

Share Market Tips LIVE | Buy Anup Engineering shares, says Vikas Sethi 

Vikas Sethi of Sethi Finmart recommends buying Anup Engineering shares for a target of Rs 2,850 with a stop loss at Rs 2,690.

Share Market Today LIVE | GMR Airports' shares fly high; here's everything you need to know

GMR Airports Infrastructure shares trade 7.11 higher at Rs 73.8 on NSE. The counter clocked a fresh 52-week high of Rs 72.3 apiece on the BSE as multiple factors boosted buying interest in the scrip.

Here are some reasons that boosted the rally in the stock.

1. Bulk deals

GQG Partners, Goldman Sachs Trust, and Nomura India Investment bought stakes in the infra major.According to BSE data, GQG Partners bought 9,26,36,787 shares at Rs 59.09 per share in the company on December 8, Goldman Sachs Trust bought 19,024,5,637 shares at Rs 59.09 apiece, and Nomura India Investment bought 6,24,85,851 shares for Rs 58.2 apiece.

2. Financing agreement for Greenfield Bhogapuram International Airport

The company, through a regulatory filing on December 9, informed that it has a concession to build and operate the Greenfield Bhogapuram International Airport and has executed a financing agreement of Rs 3,215 crore. Read more

Closing Bell | Nifty 3 pts shy of 21,000, Sensex up 103 pts at 69,929 as bulls take D-Street to fresh record closing highs

Share Market Today LIVE | Tina Gadodia positive on Tata Power, Canara Bank

Tina Gadodia of Quantsapp Advisory shares two recommendations in the derivatives (futures and options) segment with Zee Business viewers: 

• Buy the Rs 340 call option of Tata Power at Rs 10 for a target of Rs 15 with a stop loss at Rs 8.4
• Buy the Rs 450 call option of Canara Bank at Rs 11.75 for a target of Rs 16 with a stop loss at Rs 10

Share Market Today LIVE | Nifty Bank falls from the day's high, continues to trade in green

Source: NSE

Stocks to buy: HDFC Bank, ICICI Bank, SBI, Infosys, Titan among analysts' top picks this week

In conversation with Zee Business Managing Editor Anil Singhvi, market experts Rakesh Bansal, Himanshu Gupta, Kunal Saraogi, Sandeep Jain and Sumeet Bagadia share their top stock recommendations in this special segment, Pick of the Week. On the analysts' 'buy' list are stocks such as Indus Towers, State Bank of India, Mahanagar Gas Limitied, Anup Engineering, HDFC Bank, ICICI Bank, EI Hotel Limited, Infosys and Titan. Read more 

Share Market Today LIVE | Sensex touches 70,000 for first time, Nifty scales fresh peak; What's driving the indices higher?

Indian equities continues their winning run for the ninth-day with a one day hiccup and hit the new milestone of 70,000 on the Sensex. In Monday’s session, Sensex marks a new all time high of 70,048.9, with year-to-date gains now at 15 per cent, Nifty on the other hand surpasses 21,000 levels and notche a record high of 21,019.8.

Here are the factors that are propelling a new high on Indian indices:

Strong macroeconomic data:

Over the weekend, PM Modi on India’s GDP of 7.7 per cent in the first six months of FY24 said that it is a reflection of the country's strengthening economy and the transformative reforms carried out in the last 10 years. The sentiment has given a boost Indian equities which have risen phenomenally after the ruling party’s win in state assembly elections. 

FII buying: Return of FIIs a big positive

On a month-to-date basis, FIIs have net bought Indian equities worth Rs 16,761 crore, while on a year-to-date CY23, it still remains negative at 1,70,382 crore. Returning of FIIs in the developing economies amid hopes that the Federal Reserve is done hiking interest rate to curb inflation shall augur well for economies including India.

"Global and domestic cues favour continuation of the ongoing rally in the market despite high valuations. FIIs turning buyers, strong DII inflows, exuberant retail investors and a thriving IPO market supported by strong economic fundamentals can sustain the rally in the short run ignoring the high valuations. The overarching message from the RBI on Wednesday was that 7 per cent GDP growth for FY 24 is a conservative estimate. This is an indication of the growth momentum in the economy,” Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services stated on the markets relentless rally. Read more 

Share Market Today LIVE | SpiceJet shares hit 52-week high, rise over 7% as airline announces plan to list on NSE soon

SpiceJet shares gain by as much as 7.3 per cent to clock a 52-week high of Rs 59 apiece, surpassing an earlier peak of Rs 22.65 touched on May 23, 2023, after the domestic airline, in an exchange filing on December 11, announced its plan to soon list its securities on the National Stock Exchange of India Limited (NSE) in order to reach a wider investor base. Read more

Anil Singhvi Market Strategy | Important levels to track in Nifty50, Nifty Bank today

Zee Business Managing Editor Anil Singhvi sees a strong buy zone in the headline Nifty50 index emerging at 20,850-20,950 levels and a blue-sky zone above 21,025 on Monday, December 11. For the Nifty Bank, he expects a strong buy zone at 46,800-47,000 levels and a blue-sky zone above 47,350.

Read more on how Anil Singhvi views the Indian share market today and what he recommends

Share Market Today LIVE | Mazagon Dock zooms after shipbuilder wins Rs 1,145 crore deal from ONGC

Mazagon Dock Shipbuilders (MAZDOCK) shares zoom on Monday after the state-run shipbuilder bagged a Rs 1,145-crore order from state-run natural gas major ONGC. The stock gains by as much as Rs 110.8, or 5.4 per cent, to Rs 2,166.9 apiece on BSE. According to a regulatory filing post-market hours on Friday, the deal involves replacement of parts for a 44.4-kilometre-long subsea pipeline project. Read more 

EXPERT VIEW | V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

"Global and domestic cues favour continuation of the ongoing rally in the market despite high valuations. FIIs turning buyers, strong DII inflows, exuberant retail investors and a thriving IPO market supported by strong economic fundamentals can sustain the rally in the short run ignoring the high valuations. The overarching message from the RBI on Wednesday was that 7 per cent GDP growth for FY 24 is a conservative estimate. This is an indication of the growth momentum in the economy."

"A significant trend in the market is the outperformance of the Bank Nifty over the Nifty. Last week while the Nifty appreciated by 3.5 per cent, Bank Nifty shot up by 5.5 per cent. This outperformance is likely to continue, given the fair valuations of banking stocks, particularly the leading names. For the overall market safety is now in large caps."

Share Market Today LIVE | Reddy's Labs plunges after US regulator issues three observations for company's Bachupally unit

Reddy's Laboratories Ltd (DRREDDY) shares tumble the company received three observations by the US Food and Drug Administration (FDA) for its unit located in Bachupally, Hyderabad. The drug maker's stock falls by as much as Rs 391.8, or 6.8 per cent, to Rs 5,371.8 apiece on BSE. 

The US drug regulator conducted a pre-approval good manufacturing practices (GMP) inspection at the Hyderabad-based pharmaceutical company from December 4 to December 8, according to a regulatory filing. Read more

MARKET AT ALL-TIME HIGH | Sensex above 70k for 1st time, Nifty scales fresh peak of 21,019.8; Nifty Bank hits life-high of 47,498.1

MARKET AT ALL-TIME HIGH | Sensex scales fresh peak of 69,925.63; Nifty hits an all-time high of 21,006.70; Nifty Bank hits life-high of 47,451.6