Share Market HIGHLIGHTS: Sensex ends 372 pts higher at record 72,410, Nifty soars to 21,779 driven by financial, auto, FMCG shares
Share Market HIGHLIGHTS: Domestic equity benchmarks Nifty 50 and Sensex continued their record-breaking spree on Thursday, December 28. Catch all the highlights of the December 28 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.coms blog.
Share Market Today LIVE: Domestic equity benchmarks Nifty 50 and Sensex continued their record-breaking spree on Thursday, December 28, as both Sensex and Nifty hit their all-time highs, fuelled by a global rally over the optimism that the US central bank would start cutting rates as soon as next March.
Catch minute-by-minute updates of all the action in the Indian share market today, market commentary and analysis, the views of Zee Business Managing Editor Anil Singhvi and other experts, stock and trade recommendations, and much more only on Zeebiz.com's blog:
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Share Market Today | Sensex ends 372 pts higher at 72,410, Nifty50 at 21,779
Both benchmark indices finish the day at record levels as strong domestic data lifts heavyweight financial stocks amid a global rally.
The Nifty50 gains 124 points, or 0.6 per cent, to end at 21,778.7 and the Sensex advances 372 points, or 0.5 per cent, at 72,410.4.
The 50-scrip barometer has hit a record high in 13 of 19 sessions in December, and is on track to register its best monthly gain since July 2022.
MARKET AT ALL-TIME HIGH | Nifty scales fresh peak of 21,791.30; Sensex at 72,436.64
Share Market Today LIVE | SBI Life, HPCL, Dr Reddy's among analysts' top picks
In conversation with Zee Business Managing Editor Anil Singhvi, market experts Rakesh Bansal, Kunal Saraogi, Sumeet Bagadia, Vikas Sethi and Himanshu Gupta share their top stock recommendations in this special segment, Pick of the Day.
- Himanshu Gupta of Globe Capital Markets suggests buying Hindustan Petroleum Corporation (HINDPETRO) shares for targets of Rs 392 and Rs 295 with a stop loss at Rs 375
- Vikas Sethi of Sethi Finmart has a 'buy' call on Canara Bank (CANBK) futures for a target of Rs 445 with a stop loss at Rs 428
Nifty Today LIVE | HDFC Bank, RIL, ITC among top movers in 50-scrip basket
HDFC Bank, RIL, ITC and NTPC are the top movers in the Nifty baskets at this hour. On the contrary, Infosys, ICICI Bank, L&T and Asian Paints 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 | Nifty Bank trades over 250 pts higher
Source: NSE
Share Market Today LIVE | Larsen & Toubro shares clock 52-week high; what is keeping investors hooked?
Larsen & Toubro (L&T) shares clock a 52-week high on Thursday, on track to close higher following four back-to-back sessions of losses, after the conglomerate said the power transmission and distribution unit of its construction arm, L&T Construction, secured key orders to the tune of Rs 2,500-5,000 crore in the Middle East. L&T shares gain half a per cent to clock a fresh 52-week high of Rs 3,560, surpassing an earlier peak of Rs 3,549 registered the previous day. Read more
Share Market Today LIVE | HUDCO up 19% after investment MoU with Gujarat government
HUDCO shares skyrocket nearly 20 per cent in trade on Thursday to clock a fresh 52-week high of Rs 136.4 on NSE after the PSU company signed an MoU with Gujarat government for investment of Rs 14500 crore. Read more
Share Market Today LIVE | Multibagger renewable power generator stock approaches fresh peak; what’s energising the bulls?
Gujarat-headquartered renewable power generating company KPI Green Energy’s shares spurt after the company announced the successful commissioning of solar projects amounting to 17.35 MWp along with its wholly-owned subsidiary, KPIG Energia. The stock of KPI Green Energy (KPIGREEN ) jump by as much as Rs 120.9, or 9.4 per cent, to Rs 1,402.1 apiece on BSE, coming within Rs 12 of an all-time high scaled this month.
“These projects were executed on behalf of esteemed clients, namely, Jay Metal Tech, Reenam Fabrics Pvt. Ltd., JPB Fibers, and Creative Technologies, as part of our 'Captive Power Producer (CPP)' business segment. Furthermore, the approvals from the Chief Electrical Inspector (CEIG) has been received in the names of the respective clients,” KPI Green said in a regulatory filing post-market hours on Wednesday. Read more
Share Market Today LIVE | Suprajit Engineering shares soar after HDFC Mutual Fund raises stake in auto parts maker
Suprajit Engineering shares zoom on Thursday, continuing to rise for a second straight session, after HDFC Mutual Fund raised stake in the auto component manufacturer. Suprajit Engineering shares trade up by Rs 31.35, or 8.43 per cent at Rs 403.1 apiece on the bourse. Read more
Share Market Today LIVE | Morgan Stanley maintains 'overweight' call on this large-cap specialty chemicals stock
Morgan Stanley has maintained an 'overweight' rating on the large-cap specialty chemicals and pharmaceuticals manufacturer with a target price of Rs 575. Agrochemicals make up one-third of revenue. The start-up of supplies under the contract will steadily improve asset turns and will be earnings-accretive, the global brokerage said.
Aarti Industries shares trade flat, up 0.05 per cent at Rs 646.05 on the NSE. The stock is rising for the third consecutive session. According to the analysts at the brokerage, the company's long-term contract implies annual revenue of $40 million.
Assuming Aarti Industries' midcycle EBITDA margins of 18 per cent, the contract implies 3–4 per cent accretion to EBITDA and 6-7 per cent accretion to earnings over FY25–26, Morgan Stanley added. Read more
Share Market Today LIVE | This multibagger PSU stock in focus after securing Rs 76.19 crore order
Shares of RailTel Corporation of India Ltd trade flat after the company bagged an order worth Rs 76.19 crore from the Bihar Education Project Council. According to an exchange filing, the company has secured order for the supply of teaching-learning material for Class I to III.
"This is to inform that RailTel Corporation of India Ltd. (“the Company”) has received the work order from Bihar Education Project Council for Supply of Teaching Learning Material for Class I to III Under Rate Contract amounting to Rs. 76.19 Crore (Including GST)," the company said in an exchange filing. Read more
Traders' Diary | Buy, sell or hold strategy on Naukri, Sula, Delta Corp, Intellect Design Arena, Suprajit Engineering, over a dozen other stocks today
In this edition of Traders' Diary, Zee Business shares exclusive research on more than a dozen stocks that investors and traders can track on Thursday, December 28. Here's a list of 20 stocks that are on analysts Ashish Chaturvedi and Kushal Gupta's radar.
Here's the complete list of investment and trading ideas for the day:
Ashish Chaturvedi
- Buy Arvind SmartSpaces shares in the cash segment for a target of Rs 440 with a stop loss at Rs 420
- Buy Canara Bank (January) futures for a target of Rs 445 with a stop loss at Rs 429
- Buy the Rs 5,200 call option (January) of Naukri for a target of Rs 250 with a stop loss at Rs 200
- Technical pick: Buy RSWM shares for a target of Rs 250 with a stop loss at Rs 200
- Fundamental pick: Buy Sula Vineyards shares for a six-month target of Rs 550
- Investment idea: Buy Bayer Cropscience shares for a one-year target of Rs 6,850
- News-based pick: Buy Delta Corp shares for a target of Rs 155 with a stop loss at Rs 143
My Choice picks:
- Buy Petronet LNG shares for a target of Rs 223 with a stop loss at Rs 214
- Buy GE Power shares for a target of Rs 230 with a stop loss at Rs 220
- Buy Kalyan Jewellers shares for a target of Rs 365 with a stop loss at Rs 348. Read more
Share Market Today LIVE | Canara Bank gives in-principle nod to MF unit Canara Robeco AMC to float IPO; shares rise
Canara Bank shares jump on Thursday, extending gains to a second straight day, after the Bangalore-based public sector bank’s board gave in-principle approval to its mutual fund subsidiary, Canara Robeco AMC, to float an initial public offer (IPO). The Canara Bank stock gain as much as 3.2 per cent to Rs 446.7 apiece on NSE.
"We wish to inform you that Canara Bank has in-principle approved to initiate the process of listing its Mutual Fund Subsidiary Canara Robeco Asset Management Company Ltd, in the Stock Exchanges by way of Initial Public Offer (IPO), subject to following the due diligence, laid down procedures, opportune time, regulatory approvals etc," the PSU bank said in a regulatory filing.
"The modalities of listing will be decided in due course. The bank will make further announcements of all material developments with regard to the same, as and when required, as per applicable regulations.," it said. Read more
MARKET AT ALL-TIME HIGH | Nifty scales fresh peak of 21,759.05; Sensex at 72406.75
Azad Engineering IPO Listing | Strong debut! Shares list at 35.5% premium on BSE
Azad Engineering shares debut at Rs 710 on the BSE, a premium of 35.5 per cent to the issue price of Rs 524 while the counter debut at Rs 720, at a premium of 37.5 per cent on NSE. Read more
Share Market Today LIVE | Citi retains 'sell' on this midcap IT stock; sees potential downside of over 24%
Global brokerage Citi is bearish on Mphasis and has retained its 'sell' call on the midcap IT stock for a target of Rs 2,080. This signifies a potential drop of over 24 per cent from the last close.
The company’s shares trade 0.59 per cent lower at Rs 2,721.85. Citi highlighted that demand at the company hasn't changed in comparison to the start of the quarter. Read moreShare Market Today LIVE | Zomato shares under pressure after company receives Rs 402 crore GST liability notice
Zomato shares succumb to selling pressure on Thursday after the food delivery company received a show-cause notice of Rs 402 crore from the Pune Zonal Unit of the Directorate General of GST Intelligence. Zomato shares recover some of their intraday losses to trade 1.9 per cent weaker for the day at Rs 124.7 apiece on the bourse. Read more
Share Market Today LIVE | Nifty trades above 21,700, Sensex above 72,250
Nifty 50
Source: NSESensex
Source: BSE
MARKET AT ALL-TIME HIGH | Nifty scales fresh peak of 21,725.5; Sensex at 72,272.59
Currency Update | Rupee rises 6 paise to 83.28 against US dollar in early trade
Anil Singhvi Market Strategy | Important levels to track in Nifty50, Nifty Bank today
Zee Business Managing Editor Anil Singhvi sees support for the headline Nifty50 index emerging at 21,575-21,600 levels and a strong buy zone at 21,450-21,500 levels on Thursday, December 28. For the Nifty Bank, he expects support at 48,000-48,150 levels and a strong buy zone in the 47,725-47,850 range.
Read more on how Anil Singhvi views the Indian share market today and what he recommends
Suzlon Energy, bank stocks, Exide Industries: Stocks to watch out for on Thursday
Here are some stocks that will be in focus on Thursday, December 28:
Suzlon Energy: The Rajasthan Goods and Services Tax (GST) Department, while confirming a demand of tax and interest, imposed a penalty of Rs 1,36,05,479 upon Suzlon Energy Limited on the ground that the company had claimed excess Input Tax Credit (ITC) of GST during FY2017-18.The company is in the process of filing an appeal before the Appellate Authority.
KPI Green Energy: The company commissioned solar power projects totaling 17.35 MWp with its subsidiary KPIG Energia Private Limited.
Bank and financial services stocks: The Reserve Bank of India (RBI) released a report on the banking and NBFC trend in FY23, which showed that the Indian banking system was well positioned to improve further.
Exide Industries: The company invested over Rs 39 crore by way of subscription in the equity share capital of its subsidiary, Exide Energy Solutions Limited. The transaction is done on a rights basis. 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 71 points or 0.33 per cent at 21,761 ahead of the opening bell on Dalal Street.
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