KEY HIGHLIGHTS
US Futures Mixed Ahead Of CPI
At 3:39 p.m., futures contract of Dow Jones fell 0.2%, that of S&P 500 was flat while Nasdaq 100 futures contract rose 0.2%.
Economic Data To Be Released Later Wednesday
US: Core CPI
US: CPI
US: Crude Oil Inventories
US: 10-year Bond Auction
Nifty, Sensex See Another Muted Session As Traders Await Economic Data: Closing Bell
The Nifty 50 snapped its three-day fall and Sensex rose for a second consecutive session as traders await inflation data from the US due later in the day and from India due tomorrow.
However, the gains were limited as shares of RIL and banks weighed on them. Intraday, both the Nifty and Sensex had risen 0.3%. The Nifty ended 0.13% or 31.75 points up at 24641.8 and Sensex closed 0.02% or 16.09 points higher at 81526.14.
According to Aditya Gaggar, director of Progressive Shares, "The Index is oscillating in a tight range of 24,550-24,690, and a breakout on either side would provide a directional move to the market."
Share prices of Infosys Ltd., Bajaj Finance Ltd., Trent Ltd., Bharti Airtel Ltd., and UltraTech Cement Ltd. contributed the most to the gains. While those of Reliance Industries, HDFC Bank Ltd., State Bank Of India, ICICI Bank Ltd., and Axis Bank Ltd. capped the upside.
Most sectoral indices rose with Nifty FMCG rising the most.
Market breadth was skewed in the favour of buyers. As many as 2,144 stocks rose, 1,839 fell, and 113 remained unchanged on the BSE.
Broader indices outperformed. BSE Midcap ended 0.3% higher and BSE Smallcap rose 0.4%.
Only four sectoral indices on the BSE ended lower of the 21 and 17 rose. BSE Consumer Durables rose the most.
Markets At Close
Nifty and Sensex see another muted session
Intraday, both Nifty and Sensex had risen 0.3% each
Nifty ends 0.13% or 31.75 points up at 24641.80
Sensex ends 0.02% or 16.09 points higher at 81526.14
Broader indices outperformed. Nifty Midcap 100 ended 0.3% up; Nifty Smallcap 250 closed 0.3% higher
Most sectoral indices rose with Nifty FMCG rising the most
Trent and Bajaj Finance were top Nifty gainers
JSW Steel and Adani Ports fell the most
Rupee Ends Flat Against US Dollar
Rupee closed flat at 84.84 against the US dollar.
It closed at 84.85 on Tuesday.
Source: Bloomberg
RBI New Governor Sanjay Malhotra In Press Conference
"We will continue to uphold stability in policy. While stability is important, we are aware that we are constantly evolving. So we have to be conscious of this fact... we have to be alert and agile."
Coffee Prices At All Time High Spells Bad News For Caffeine Lovers
Coffee prices have surged to record highs, fuelled by a significant reduction in Brazil's crop outlook. Brazil, the world’s largest coffee producer, is grappling with unfavourable weather conditions and lower yields, leading to a global supply crunch.
Railway Stocks: IRCON, IRFC, Jupiter Wagons, RVNL Rally Up To 13%—Here's Why
Railway stocks were seen rallying to fresh highs on Wednesday. Rail Vikas Nigam Ltd., Indian Railway Finance Corp., IRCON International Ltd. and Jupiter Wagons Ltd., are among the sector's top gainers. The sentiment is uplifted because of the recent project announced by Union Cabinet and the expectations around the upcoming Budget 2025.
Cipla To Sun Pharma: Here Are HSBC's Top Pharma Stock Picks
HSBC has identified its top picks in the Indian pharmaceutical sector, maintaining a "buy" rating on Cipla Ltd., Sun Pharmaceutical Industries Ltd., Lupin Ltd., Torrent Pharmaceuticals Ltd., and Aurobindo Pharma Ltd.. The firm highlights these stocks for their solid growth potential in both domestic and international markets.
Varun Beverages And Trent Are Investor Favourites In Challenging Consumer Market
Varun Beverages Ltd. is the top choice for investors in a consumer segment facing near-term challenges as urban demand weakness outweighs rural recovery. Citi Research found that it was least impacted by the demand weakness in India, though there were concerns about a potential GST hike.
Share Market News: Mahindra Jumps On To Battery As A Service Bandwagon
Mahindra had jumped on to the battery-as-a-service bandwagon but only for its electric commercial-vehicle business. Mahindra Last Mile Mobility is in tie-up with EV startup Vidyut to offer EV battery on rent. Customers of Mahindra’s electric CVs can now rent battery at Rs 2.50/km. This reduces the upfront cost of acquisition by up to 40% as compared to ICE CVs
Source: M&M statement
Trading Ideas: DMart Has Stock Market Experts Cautious, NTPC Green Is 'Buy On Dips' Play
How should you trade shares of Avenue Supermarts Ltd. after Goldman Sachs' target price cut? Should you buy Dixon Technologies Ltd. and NTPC Green Ltd. at current levels? Till when should you hold Godrej Agrovet Ltd.?
Saurabh Jain, head of equity research at SMC Global Securities and Vaishali Parekh, vice president of technical research at Prabhudas Lilladher Pvt. answer these queries and more.
Share Market Update: VIP Clothing In Pact With Swiggy InstaMart
VIP Clothing Ltd., a trailblazer in the Indian innerwear industry, has partnered with Swiggy Instamart to offer instant 10-minute delivery of its iconic men’s innerwear brand, Frenchie.
Mobikwik IPO Fully Subscribed On First Day
The One Mobikwik Systems Ltd. IPO was fully subscribed under two hours of bidding on its first day. As of 11:21 am, subscription levels stood at:
QIB: nil
NII: 1.34 times
Retail Investors: 6.65 times
Total subscription: 1.57 times
Share Market News: HUDCO In MoU With Delhi Development Authority
HUDCO has signed an MoU with Delhi Development Authority for capacity building programmes, an exchange filing said.
Share Market Live: Aptus Value Housing Clarifies On IT Incident
An exchange filing by the company said that it wishes to inform that it has received communication from an unknown source, who has shared certain documents with the company, with mala fide intent. "We wish to inform you that there has been no application, business or customer support downtime," it said. The core application or databases have not been compromised and are intact and a small quantum of local internal documents has been lost and that too has been restored and functional.
Share Market News: Infosys JV To Accelerate Operations For StarHub
Infosys Compaz, a JV between company and Temasek has strengthens collaboration with Singapore-based StarHub to accelerate operations, an exchange filing said.
Listing Update: Nisus Finance Services Share Price Lists At 25% Premium On BSE
Share price of Nisus Finance Services Co. made a strong debut on the BSE SME on Wednesday. The stock listed at Rs 225 on the platform, with a premium of 25% over the issue price of Rs 180.
Share Market News: PNC Infratech Share Price Surges On Early Completion Of Highway Project
PNC Infratech Ltd.'s share price rose by over 11% on Wednesday after the company announced the early completion of a highway construction project in Uttar Pradesh.
Share Market News: ITI Falls 7% After Hitting Life High On Tuesday
ITI share price fell over 7% after hitting its lifetime high on Tuesday. The exchange had sought clarification from the company with reference to significant movement in price, in order to ensure that investors have latest relevant information about the company and to inform the market so that the interest of the investors is safeguarded.
Share Market Live: Vedanta Share Price Hits Lifetime High
Vedanta Ltd. rose to hit its lifetime high amid positive sentiment for metal stocks.
Stock Market News: Nifty Metal Hits One-Month High; Nuvama Says Book Profits
Most stocks of Nifty Metal rose after reports said steel ministry has proposed finance ministry for steel import duties for a 25% safeguard duty on steel imports. In its report, Nuvama recommends booking profits in JSW Steel, SAIL, and Tata Steel as it believes earnings improvement already factors in Indian steel stock prices. Brokerage's top preferred pick is Jindal Steel & Power.
Stock Market Live: Avenue Supermarts Pares Losses After Falling 4%
The stock fell after Goldman Sachs slashed DMart operator Avenue Supermarts Ltd.'s target price as it sees competitive pressure in retail markets, which are increasingly challenged by the rise of quick-commerce players.
Stock Market Live: Adani Stocks Rise
All Adani group stocks rose with Sanghi Industries leading the gains.
Swiggy Shares Tumbles As Anchor Investors Exit After First Lock-In Ends
Shares of Swiggy Ltd. plunged on Wednesday as anchor investors offloaded the stake they held before the quick commerce platform went public last month.
The Bangalore-headquartered delivery platform had raised Rs 5,085 crore by allocating 13.03 crore shares to high-profile anchor investors, including Fidelity and Blackrock. Sizeable participation from domestic investors was also seen in the anchor investment, a day before the initial public offering opened for retail investors.
Shriram Pistons Share Price Hits Over Two-Month High As Emkay Raises Target After TGPEL Acquisition
Share price of Shriram Pistons & Rings Ltd. jumped to hit its highest level in more than two months following Emkay Research's target price raise by 13.5% to Rs 2,950 as it believes that the company's recent acquisition of TGPEL Precision Engineering is strategically important regardless of its size.
Share Market News: Over 20 Lakh Shares of Awfis Space Solutions Changed Hands In A Block Deal
In a block deal, over 20 lakh shares of the company changed hands in a block deal at Rs 709.9, Cogencis showed. At 9:36 a.m. stock rose 0.7% to Rs 722.
Nifty, Sensex Open Flat As ICICI Bank, HDFC Bank Weigh But Infosys Rises: Opening Bell
Benchmark equity indices saw another muted session with banks weighing the most and Infosys limiting the fall as global investors await US CPI data.
At pre-open, Nifty 50 was at 24620.50, up 0.04% or 10.45 points and Sensex was at 81568.39, up 0.07% or 58.34 points.
Looking forward, the 24,850-level is expected to act as a key resistance, followed by the stronger barrier at 24,950, according to Hardik Matalia, derivative analyst at Choice Broking. "A decisive breakout above these levels could pave the way for further upside," she said. "On the downside, immediate support is seen at 24,500, with the next significant level at 24,300."
He advises traders to adopt a buy-on-dips approach as long as the index stays above 24,200 and to manage risk effectively, it is recommended to maintain a strict stop-loss at 24,000 on a closing basis.
Shares of ICICI Bank Ltd., HDFC Bank Ltd., Bharti Airtel Ltd., Axis Bank Ltd., and Dr Reddy's Laboratories. dragged Nifty the most. While those of Infosys Ltd., Reliance Industries Ltd., UltraTech Cement Ltd., Grasim Industries Ltd., and Maruti Suzuki Ltd. minimised the fall.
Nifty Media rose the most while Nifty Bank and Nifty Finance were the top losers.
Share Market Update: Nifty, Sensex Flat At Pre-Open
At pre-open, Nifty 50 was at 24620.50, up 0.04% or 10.45 points and Sensex was at 81568.39, up 0.07% or 58.34 points.
Rupee Opens Flat Against US Dollar
Rupee opened flat at 84.85 against the US dollar.
It closed at 84.85 on Tuesday.
Source: Bloomberg
Share Market Update: Citi on India Consumer, Retail and Media
Citi expects weakness in urban demand to more than offset the rural recovery and investors remain selective and prefer companies with the least earnings downgrade risk. The brokerage sees faster growth at Varun beverages and said investors are cautious on categories with increased competitive intensity (paints, grocery retailing, jewellery). They have mixed view on HUL, GCPL and BRIT and remain cautious on ITC, DABUR and Nestle, and Titan while they are incrementally comfortable on Kalyan.
Share Market News: JM Financials Top Stock Picks for 2025
Axis Bank: Rs 1,425 target price implies 22.5% upside
Nippon AMC: Rs 800 target price implies 9% upside
Maruti Suzuki: Rs 15,250 target price implies 35.4% upside
SAMIL: Rs 210 target price implies 25.7% upside
Ahluwalia: Rs 1,315 target price implies 22.7% upside
KPIT: Rs 2,040 target price implies 33.15 upside
Zee Entertainment: Maintain Buy, target at Rs 200 implies 40.8% upside
Havells: Rs 2,031 target price implies 18.4% upside
Cyient DLM: Target at Rs 960 implies 44.8% upside
Metropolis: Rs 2,500 target price implies 14.3% upside
Global Health: Rs 1,440 target price implies 23.1% upside
BHEL: Maintain Buy, target at Rs 371 implies 49% upside
Stock Market Updates: RailTel Corp Gets New Order
RailTel Corp. has got an order worth Rs 11.1 crore from Mahatma Phule Krisihi Vidyapeeth of Ahilyanagar district, an exchange filing said.
Share Market News: Goldman Sachs Lowers Avenue Supermarts' Target
Goldman Sachs has lowered its target for Avenue Supermarts to Rs 3,425 from Rs 4,000 earlier while maintaining a 'sell'. It said Dmart is increasing price discounts to maintain competitive advantage and its TAM is not $500 billion but $ 86 billion. The brokerage said growth headroom for dmart is outside top 10 cities but model is to own stores.
Stock Market Live: RIL Arm's Resolution Plan Approved By NCLT
NCLT has approves plan submitted by Reliance Industries arm Reliance Strategic Business Ventures Limited for resolution of Karkinos Healthcare, an exchange filing said.
US Market Close: Indices End Lower Ahead Of US CPI
In US, S&P 500 closed down 0.30% at 6,034.91, Dow Jones fell 0.35% to close at 44,247.83, and Nasdaq Composite was down 0.25% at 19,687.24. Market players await country's CPI due later today. Dow Jones poll expects the inflation gauge to rise 0.3% from October and 2.7% year-on-year.
Asia Market Open: Most Indices Fall; Kospi Up Nearly 1%
In Asia, most indices fell as global markets await US CPI. At 7:03 a.m., Australia's ASX 200 traded 0.5% lower, Japan's Nikkei fell 0.1%, CSI 300 was flat but Kospi traded 0.8% up.
GIFT Nifty Trades Near 24,700; NTPC Green, BEML, Adani Ports, BHEL In Focus
At 6:56 a.m., GIFT Nifty traded at 24,677.00 down by 16 points, or 0.06%. Share prices of NTPC Green, BEML, Adani Ports, and BHEL, among others, are expected to react today tracking news flow.
The benchmark equity indices ended on a muted note on Tuesday after declining for the past two sessions. The NSE Nifty 50 closed 8.95 points, or 0.04%, down at 24,610.05, while the BSE Sensex settled 1.59 points up at 81,510.05. During the day, the Nifty declined as much as 0.44% to 24,510.65 and the Sensex fell 0.40% to 81,182.69.
Overseas investors remained net buyers of Indian equities on Tuesday for the second consecutive session, while domestic institutional investors turned net buyers after a day of selling. Foreign portfolio investors bought stocks worth approximately Rs 1,286 crore, while the DIIs mopped up stocks worth Rs 605.8 crore, according to provisional data shared by the National Stock Exchange.
The Indian rupee weakened by 12 paise to close at a record closing low of 84.85.
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