KEY HIGHLIGHTS
US Futures Trade Flat Before US Non–Farm Data Release
At 3:32 p.m., futures contract of Dow Jones was at 44,849.00, that of S&P 500 was at 6,084.75, and Nasdaq 100 was 21,469.25, all flat.
Economic Data Releases And Events For Dec 6
US: Non–Farm Employment Change — 7:00 p.m.
US: Unemployment Rate — 7:00 p.m.US: Average Hourly Earning — 7:00 p.m.
US: Federal Reserve Governor Michelle Bowman will speak at the Missouri Bankers Association Executive Management Conference — 7:45 p.m.
US: Preliminary University of Michigan Consumer Sentiment — 8:30 p.m.
US: Preliminary University of Michigan Inflation Expectations — 8:30 p.m.
US: Federal Reserve Bank of Chicago President Austan Goolsbee will speak at the Annual Economic Outlook Symposium in Chicago — 9:00 p.m.
US: Federal Reserve Bank of Cleveland President Beth Hammack will speak at the economic outlook at the City Club of Cleveland Friday Forum. — 10:30 p.m.
US: Federal Reserve Bank of San Francisco President Mary Daly — 11:30 p.m.
Stock Market Live Update: Nifty, Sensex Extends Gains To Third Week As Tata Motors, Axis Bank Lead
The NSE Nifty 50 and BSE Sensex ended Friday's session with marginal loss as HDFC Bank Ltd. and Reliance Industries Ltd. share prices dragged. The NSE Nifty 50 index posted the biggest weekly gains since early June.
The Nifty 50 ended 39.05 points or 0.16% down at 24,669.35, and the Sensex ended 56.74 points or 0.07% down at 81,709.12.
The Nifty 50 fell as much as 0.36% to 24,620.50, and the Sensex fell 0.32% to 81,506.19. The indices fell sharply after the Reserve Bank of India kept the repo rate unchanged at 6.5% and stance 'Neutral'. The central reduced the GDP forecast for financial year 2025, while it increased the projection for inflation.
Following the Monetary Policy Committee's announcement to cut cash reserve ratio, the NSE Nifty Bank rose 0.49% to the day's high of 53,868.50. The central bank cut the CRR by 50 basis points to 4.00%. RBI will cut CRR in two tranches in fortnights beginning December 14 and December 28 at 25 bps each.
The CRR cut to result in liquidity increase of Rs 1.16 lakh crore.
HDFC Bank Ltd., Reliance Industries Ltd., Infosys Ltd., ICICI Bank Ltd., and Bharti Airtel Ltd. weighed on the NSE Nifty 50 index.
Tata Motors Ltd., Axis Bank Ltd., Larsen & Toubro Ltd., ITC Ltd., and Bajaj Auto Ltd. added to the Nifty 50 index.
The NSE Nifty 50 posted the best gains on a weekly basis since June 7. It has risen 2.27% in the week ended on Dec 6. The BSE Sensex gained 2.39% in the week ended on Dec 6.
Broader indices outperformed. BSE Midcap closed 0.36% higher and BSE Smallcap ended 0.6% higher.
Five of 21 sectoral indices on the BSE fell and 16 rose. BSE Metal rose the most.
Market breadth was skewed in the favour of buyers. As many as 2,401 stocks rose, 1,586 declined, and 101 remained unchanged on the BSE.
This week on NSE, 11 sectors advanced and one declined out of 12. The NSE Nifty Realty rose the most, while the NSE Nifty FMCG sector declined the most.
Rupee Ends Stronger After RBI Hikes Ceiling On Interest Rate On FCNR Deposits
Rupee strengthened 3 paise to close at 84.70 against the dollar. It closed at 84.73 on Thursday, according to data Bloomberg.
Market At Close
The NSE Nifty posted the biggest weekly gain since early June. On a weekly basis, the index has risen 2.23% in the week ended
The Nifty 50 and BSE Sensex extended gains to third week.
The NSE Nifty Metal rose the most. It ended 1.23% higher at 9,397.15.
The NSE Nifty Media declined the most. It ended 0.26% down at 2,078.50.
The NSE Nifty Midcap 150 ended 0.41% higher at 21,665.40.
The NSE Nifty Smallcap 250 ended 0.54% higher at 18,328.95.
Stock Market Live: Kalpataru Projects & Its Units Get New Orders Worth Rs 2,174
Kalpataru Projects International Ltd. and subsidiaries get new orders worth Rs 2,174 crore, it said in an exchange filing.
Europe Markets Trade On Mixed Note As Traders Assess Political Situation In France
European markets were trading on a mixed note as investors assessed situation in the France. They also look forward to the release of US non–farm payroll data, scheduled for release later.
The French Government collapsed on Wednesday after the Prime Minister Michel Barnier lost confidence in the country's parliament in a no–confidence vote. The motion has been tabled by both the left and right wing bloc after Barnier forced its social security budget bill through parliament without vote.
Stock Market Live Updates: Synergy Green In Supply Agreement With
Synergy Green Ltd. has signed a supply agreement with Envision Energy India for the manufacturing of wind turbine castings. This was disclosed through an exchange filing.
Stock Market Live Updates Today: Policy Bazar Share Price Rises To Record High
PB Fintech Ltd. share price rose as much as 5.68% to a record high of Rs 2,132.00 apiece. It was trading 5.22% higher at Rs 2,210.90 as of 1:15 p.m. compared to 0.01% decline in the NSE Nifty 50 index.
Stock Market Today: Landmark Cars In Transfer Agreement To Acquire Kia Showroom
Landmark Cars has executed an asset transfer agreement to acquire a Kia showroom in Hyderabad. This was disclosed through an exchange filing.
Stock Market Live Updates: Piramal Pharma Signs Pact With VetDC
Piramal Pharma's arm has signed a settlement agreement with VetDC for $407,400. This was disclosed through an exchange filing.
Stock Market Live: Samvardhana Motherson Plans To Acquire Atsumitec
Samvardhana Motherson International Ltd. has announced its plan to acquire Japan-based Atsumitec for approximately $57 million. This information was disclosed through an exchange filing.
Stock Market Today: IKIO Lighting's Arm Signs MoU With Metco Engineering
IKIO Lighting's arm, Royalux LLC, has entered into a Memorandum of Understanding with Metco Engineering for the supply of energy-saving products. This was disclosed through an exchange filing.
Stock Market Live: Stanley Lifestyles Opens New Flagship Store In Coimbatore
Stanley Lifestyles has opened its new flagship store, 'Stanley Level Next,' in partnership with Newmens Furniture, in Coimbatore, Tamil Nadu. This development was disclosed through an exchange filing.
Stock Market Live: Bajaj Auto Share Price Rises After Company Clarifies Freedom 125 Pricing, Sales Data
Shares of Bajaj Auto Ltd. rose nearly 3% in intraday trade on Friday after the company clarified inaccuracies in a brokerage report regarding sales volumes and price adjustments for its Freedom 125 and Pulsar models.
Stock Market Today: LTMindtree Dissolves Subsidiary In France
LTIMindtree Ltd. has announced the dissolution of its wholly-owned step-down arm, Syncordis SARL, in France. The company disclosed this development through an exchange filing.
Stock Market Live: Adani Wilmar Appoints New Deputy CEO
Adani Wilmar Ltd. has announced the appointment of Shrikant Kanhere as the deputy chief executive officer of the company. In addition to his current role as Chief Financial Officer Kanhere will now assume the responsibilities of Deputy CEO, as per the exchange filing.
RBI Monetary Policy: Stance 'Neutral', 10 Key Highlights Of The Meet
India's Monetary Policy Committee, chaired by RBI Governor Shaktikanta Das, decided to keep the benchmark repo rate unchanged at 6.5% and maintain its "neutral" stance. In a bid to ease liquidity pressures, the Committee has also reduced the Cash Reserve Ratio (CRR) by 50 basis points to 4%.
For the full article click here.
India Rupee Rises Sharply As RBI Increases FCNR Deposit Interest Rate Ceiling
The local currency rose 16 paise against the US dollar to 84.5700 on Friday. The Indian unit closed at 84.7325 a dollar on Thursday, according to data on Cogencis.
Most Banks Stocks Trade Mixed Following RBI's CRR Cut Announcement
Most banks' stocks were trading on a mixed note as the Reserve Bank of India announced to cut Cash Reserve Ratio by 50 basis points. RBI will cut CRR in two tranches in fortnights beginning December 14 and December 28 at 25 bps each.
The CRR cut to result in liquidity increase of Rs 1.16 lakh crore.
Stock Market Live Updates: Yield On The 10-Year Bond Rises As RBI Cuts CRR
The yield on the 10-year bond rose 5 basis points to 6.73%. It closed at 6.68% on Thursday, according to data Bloomberg.
Nifty Bank Surges As RBI Cuts CRR By 50 Basis Points
The NSE Nifty Bank index erased all losses to trade 0.22% higher at 53,741.80 as of 10:26 a.m. The index erased losses as the RBI cut cash reserve ratio by 50 basis points.
Indian Benchmarks Decline Sharply; RBI Keeps Rate Unchanged At 6.5%
The Nifty 50 and Sensex declined sharply right after the RBI Monetary Policy Committee kept repo rate unchanged at 6.5%. The central government kept its stance neutral.
The Nifty 50 declined to 0.34% to 24,625.25, and the Sensex declined 0.29% to 81,529.33.
The RBI reduced the GDP forecast for financial year 2025 to 6.6% from earlier 7.2%. The central bank hiked the headline inflation forecast to 4.8% from 4.5% for the ongoing financial year.
Stock Market Today: Angel One Shares Off Lows
Angel One Ltd. share price declined 4.71% to Rs 3,070.00 apiece. It was trading 0.12% down at Rs 3,217.75 apiece as of 10:06 a.m. as compared to 0.04% advance in the NSE Nifty 50 index.
Stock Market Live: Zen Technologies Share Price Soars As Nuvama Maintains 'Buy'
Zen Technologies Ltd.'s share price surged over 7% after Nuvama maintain a 'Buy' on stock with a target price of Rs 2,000, an upside of 16%.
The brokerage noted that Zen Technologies has entered into a memorandum of understanding (MoU) with Florida-based AVT Simulation, a provider of air simulation systems, to tap into the US defence market.
RBI MPC Policy: Governor To Start Address Soon
The Reserve Bank of India Governor Shaktikantha Das to start address soon to announce policy decisions. Most market participants are expecting a status–quo.
In India, markets predict the RBI will hold the repo rate at 6.5% but may tweak the CRR to address high inflation and sluggish GDP growth in its meeting later today, said Ritesh Bhansali, director, Mecklai Financial Services Ltd.
India will most likely see a rate cut but will "definitely" see a cut in the cash reserve ratio, according to Jahangir Aziz, Head-Emerging Market Economics at JPMorgan.
Get live updates here.
Stock Market Live: Nifty, Sensex Open With Marginal Gains Before MPC Policy Decision
The NSE Nifty 50 and BSE Sensex opened with marginal gains on Friday as ICICI Bank Ltd. and Trent Ltd. share prices led. Market participants exercised caution before the outcome of the Reserve Bank of India's Monetary Policy Committee policy decision.
As of 09:18 a.m., the Nifty 50 was trading 11.35 points or 0.05% down at 24,697.05, and the Sensex was trading flat at 81,752.29.
"On the global front, markets traded with mixed sentiment, while buying activity from FIIs suggests a positive momentum for the domestic market in the coming sessions," said Hardik Matalia, research analyst, Choice Broking
Looking ahead, the 25,000 level is expected to act as a key resistance, and a sustained breakout above this mark could open the door for further upside. On the downside, the 24,500 level serves as an immediate support zone, followed by the 24,300 mark. Traders are advised to adopt a buy-on-dips strategy as long as the index holds above 24,200, with a strict stop-loss at 24,000 on a closing basis to effectively manage risk, Matalia said.
HDFC Bank Ltd., Tata Consultancy Services Ltd., Reliance Industries Ltd., Infosys Ltd., and Larsen & Toubro Ltd. weighed on the index.
ICICI Bank Ltd., Trent Ltd., ITC Ltd., Mahindra & Mahindra Ltd., and Bajaj Auto Ltd. added to the index.
On NSE, five sectors advanced, four declined, and three remained largely flat out of 12. The NSE Nifty Auto rose the most, and the NSE Nifty Media declined the most.
Broader markets outperformed benchmark indices. The BSE Midcap and Smallcap indices were trading 0.09% and 0.32% higher, respectively.
On BSE, 15 sectors advanced, and five decline out of 21. The BSE Telecommunication rose the most, and the BSE Focused IT declined the most.
Market breadth was skewed in favour buyers. Around 2,047 stocks advanced, 877 stocks declined, and 109 remained unchanged on BSE.
Stock Market Today: Nifty, Sensex Rise At Pre–Open
At pre–open, the NSE Nifty 50 was trading 0.09% higher at 24,729.45. The BSE Sensex was 0.15% higher at 81,887.54.
"The global cues are slightly negative as the U.S. markets came under some profit booking after hitting a fresh all time high," IFA Global Research Academy said.
Yesterday's weekly expiry with extremely volatile and the option premiums were quite elevated given an increase in VIX and market digesting the new expiry day margin norms, it said in a note.
Today's key focus will be the RBI's interest rate decision at 10 a.m. and that should keep the market participants on their feet. We expect the Nifty to trade between 24,150 to 24,850 with a neutral bias. Bank Nifty should remain more volatile today and we expect it to trade between 52,800 and 54,000, IFA Global Research Academy said.
Bitcoin Falls Below $100,000 Mark
Bitcoin prices fell below $100,000 mark as traders rushed to hedge after its historic rally on hope benign policies from the new administration in the US.
It was trading 1.60% down $97,445.76 as of 09:06 a.m.
Yield On The 10-Year Bond Opens Flat Ahead Of MPC Outcome
The yield on the 10-year bond opened flat at 6.68%. It closed at 6.68% on Thursday, according to data Bloomberg.
Rupee Opens Stronger Ahead Of MPC Outcome
Rupee Strengthened 7 paise to 84.66 against the dollar. It closed at 84.73 on Thursday, according to data on Bloomberg.
Stock Market Today: CLSA On India Strategy
Economic activity points to growth below estimate in October and Q3
Less than1/4 of indicators pointing to growth above estimate, 54% suggest a miss
Discretionary spending by govt picked up, but on low base
Govt's discretionary spend will be helpful to push up growth
Slower growth in credit card, retail loans suggest softness in consumption
Vehicle, tractor sales and registrations suggest good festive demand in Oct
Early indicators suggest robust rural activity in November
Stock Market Live Updates: JP Morgan On Indus Towers
Maintain Overweight, target: Rs 520, upside 43.6%
Hosted CFO Vikas Poddar in conference
Indos towers expects Vodafone Idea to clear Rs 35 billion dues by 4QFY25
Should drive higher dividends for FY25
5G rural rollout is still sometime away
No plans to repay debt as comfortable with current leverage
Stock Market Today: Morgan Stanley On India Strategy
India key pick in EM and Asia-Pac, to be among best performing EMs in 2025
See 14% upside to Sensex by December, 2025 in base case
Long-term story gaining strength with steady government policy action
Strong earnings, macro stability, domestic flows support India's investment case
The calendar year 2025 is likely to be a stock pickers' market
Potential global growth risks, bunching up of IPOs, near-term growth concerns present challenges
Stock Market Live: Goldman Sachs On Westlife Foodworld
Maintains Buy with target price of Rs 1045
Positive impact of menu interventions
Soft base in H2 to aid same store sales growth recovery
Operating leverage to start playing out as same store sales growth recovers
Expects same store sales growth to turn mid single digit positive in H2FY25
Management confident of outperforming peers
Gross margin impact in Q2 was temporary
Stock Market Live Updates: JPMorgan On India Cement
Maintain overweight on Ultratech & ACC;
UltraTech Cement: Target price is Rs 13,470, which implied a 13% upside
ACC: target price is Rs 3,250, which implied a 43% upside
Ultratech Cement, Shriram Cement and Dalmia Bharat are up 10-13% since Nov-15
Likely reflects rising expectations of an acceleration in Central Gov't capex into FY25 end
Cement dealer checks suggest pricing has moved marginally at best
Cement Cos should deliver better QoQ numbers on higher volumes and operating leverage
Update our models for near-term trends and continue to prefer UTCEM (on growth) and ACC (on valuations)
Stock Market Live: HSBC On Swiggy
Initiate coverage with a hold and a target price Rs 550, which implied a 6% upside.
Pioneer in both food delivery and quick commerce, but hasn’t been able to sustain its early mover advantage
Catching up on both growth and profitability could be challenging in light of the severe competitive intensity
FY24-27e, expect Swiggy’s food delivery to grow at a CAGR of 16%, and quick commerce to grow at c65%
Do not forecast EBITDA breakeven for the overall business before FY28e
Swiggy trades at a c35% discount to Zomato
Better than expected execution and valuation catch-up are key upside risks
IPO Update: Vishal Mega Mart Sets Price Band At Rs 74–78 Per Share
Vishal Mega Mart sets IPO price band at Rs 74-78 per share
The bid for issue is to open on Dec 11 and close on Dec 13
Source: Company Statement
Asia Market Update: Stocks Decline
Asia–Pacific markets declined in early trade on Thursday as worries over political stability in South Korea and France weighed. As of 07:08 a.m., the Nikkei 225 was 0.65% down at 39,138.02. The S&P ASX 200 was 0.49% down at 8,433.30.
Market participants await US non–farm payroll data, scheduled for release later on Friday.
US Market Update: US Stocks Decline; Jobless Claims Hits One–Month High
US markets gave up gains in Thursday's session. The Dow Jones Industrial Average and S&P 500 ended 0.55% and 0.19% down, respectively. The Nasdaq Composite index ended 0.17% down.
The number people filing for unemployment benefits in the US rose 9,000 to a seasonally adjusted 224,000 in the week ended on Nov 29. Bloomberg reported that the number of claims rose to one–month high.
Stock Market Live: GIFT Nifty Near 24,800; GPT Healthcare, Nykaa, Waaree Energies Share Prices In Focus
The GIFT Nifty was trading near 24,800 in early trade on Friday. GPT Healthcare Ltd., FSN E-Commerce Ventures Ltd., and Waaree Energies Ltd. share prices are likely to react.
The GIFT Nifty was trading 0.08% or 20 points lower at 24,805.50 as of 06:37 a.m.
Motilal Oswal Financial Services expect markets to gain some momentum in the near term on the back of positive global cues, optimism around enhanced government spending and favourable monetary policy changes by the Reserve Bank of India, said Siddhartha Khemka, head, research, wealth management.
The benchmark equity indices turned volatile in the last hour of trade on Thursday but still managed to close at their highest levels in more than a month, tracking records made by their US peers.
The NSE Nifty 50 ended 240.95 points or 0.98% higher at 24,708.40 and the BSE Sensex closed 809.53 points or 1% up at 81,765.86.
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