KEY HIGHLIGHTS
US Futures Advance
As of 3:26 p.m., the Dow Jones Industrial Average and S&P 500 future were trading 0.67% and 0.49% higher, respectively. The Nasdaq 100 future rose 0.57% higher.
Sensex, Nifty Close At 19-Day High On Positive Global Cues; ONGC, BEL Top Gainers: Closing Bell
Benchmark equity indices in India added nearly 4% in two consecutive sessions of gains to recoup their losses on a month-on-month basis. Both Nifty and Sensex recorded highest closing since November 6.
Globally, the sentiment was uplifted after Donald Trump hinted at his intention to nominate Key Square Group founder Scott Bessent as U.S. Treasury secretary. The market also assessed brokerages' positive commentary after NDA win in Maharashtra assembly elections.
Intraday, both Nifty and Sensex rose nearly 2% to hit their highest levels since November 7. Nifty ended at 24253.30, up 1.45% or 346.05 points and Sensex closed at 80158.67, up 1.32% or 1041.56 points
On a month-on-month basis, Nifty and Sensex had fallen in October post four-consecutive months of gains. So far in November, Nifty is trading 0.1% up and Sensex is up around 1%.
"Positive domestic cues propelled the Index to start the week on a robust note but then, it remained rangebound for the rest of the day," said Aditya Gaggar, director of Progressive Shares. "The activity in the upcoming days will confirm the success or failure of the pattern breakout.," he said. "For the time being, the nearby support is placed at 23,950 (bullish gap) whereas the higher side seems to be capped at 24,350."
Share prices of HDFC Bank Ltd., Larsen & Toubro Ltd., ICICI Bank Ltd., Reliance Industries Ltd., and State Bank Of India contributed the most to the gains in Nifty. While those Infosys Ltd., JSW Steel Ltd., Maruti Suzuki Ltd., Tech Mahindra Ltd., and Bajaj Auto Ltd. capped the upside.
All sectoral indices rose with Nifty PSU Bank gaining the most by over 4%
Market breadth was skewed in favour of buyers. Around 2,687 stocks advanced, 1,366 stocks declined, and 161 stocks remained unchanged on BSE.
Broader markets outperformed benchmark indices. The BSE Midcap and Smallcap indices ended 1.61% and 1.86% higher, respectively.
On BSE, 21 sectors ended higher with the BSE Industrials rising the most. The BSE Metal rose the least.
Rupee Strengthens Against US Dollar
-Rupee ends 17 paise stronger against the dollar at 84.28.
-Rupee appreciated by 19 paise during the day to 84.26.
-It closed at 84.45 on Friday.
Source: Bloomberg
Markets At Close
Nifty and Sensex recouped its monthly losses after rallying nearly 4% in two sessions
Both Nifty and Sensex recorded highest closing since November 6
Intraday, both Nifty and Sensex rose nearly 2% to hit their highest levels since November 7
Nifty ends at 24253.30, up 1.45% or 346.05 points
Sensex ends at 80158.67, up 1.32% or 1041.56 points
Broader indices outperformed. Nifty Midcap 100 ended 1.6% up and Nifty Smallcap 250 closed 2.1% higher
All sectoral indices rose with Nifty PSU Bank gaining the most by over 4%
MTNL Signs Pact With BSNL: Share Market News
MTNL has entered into a services agreement with BSNL effective January 1, 2025 and it will remain valid for 10 years. MTNL has revised date for agreement to come into effect to Jan 1 Vs Dec 15 earlier.
Source: Exchange Filing
Europe Markets Open: Indices Higher Tracking Global Markets
Most European indices opened higher tracking positive sentiment from global markets after Donald Trump hinted at his intention to nominate Key Square Group founder Scott Bessent as U.S. Treasury secretary.
At 2:38 p.m., UK's FTSE 100 rose 0.3%, pan European Stoxx 50 traded 0.4% up, Germany's DAX rose 0.3%, and France's CAC 40 was 0.4% up.
IFCI Share Price Surges After Board Approves Merger Of Group Cos
Share price of IFCI Ltd. soared by over 15% after the company's board approved the merger and consolidation of several entities within its group. The move is aimed at streamlining operations and enhancing operational efficiency.
Asia Market Close: Most Indices Higher; CSI 300, Hang Seng Down
Most indices of the Asia-Pacific region closed higher on Monday with Japan's Nikkei rising the most by 1.30%. However, China's CSI 300 and Hong Kong's Hang Seng closed over 0.4% lower after unchanged China's policy loan rate.
South Korea's Kospi closed 1.3% higher and Australia's ASX 200 ended nearly 0.3% higher and hit its record high of 8,462.1 points.
Rupee Strengthens Sharply Against US Dollar
Rupee appreciated by 19 paise during the day to 84.26.
Rupee opened 8 paise stronger against the dollar.
It closed at 84.45 on Friday.
Rupee strengthens amid a decline in the dollar index.
The Dollar index was down 0.45% to 107.07 as of 1:25 p.m.
Source: Bloomberg
Alert: Rupee hit an all-time low of 84.5 on Nov. 21.
The India rupee was 0.16% higher at 84.31 a dollar.
The India rupee was 0.16% higher at 84.31 a dollar.
NDA Win In Maharashtra To Boost Risk-On Sentiment, Say Brokerages: Share Market Update
The National Democratic Alliance's win in Maharashtra — one of the key economic and industrial state in the country — is expected to ease worries over political instability on a national level, subsequently boosting risk–on sentiment among market participants, according to brokerages.
The NDA won 235 seats out of 288 seats in the Maharashtra assembly. Of this, the Bharatiya Janata Party secured 135 seats.
Blockbuster Lineup Driving Urban Consumers Back To The Big Screen: PVR INOX
Consumption-driven businesses are feeling the pressure as urban market slows, and cinemas are no exception. However, a strong movie line-up this month and next raises hope for a strong finish for the current quarter ending in December, said Sanjeev Kumar Bijli, executive director of PVR INOX Ltd.
Central Bank Of India Share Price Surges On RBI's Nod For Insurance JV With Italy's Generali
Shares of Central Bank Of India Ltd. rose 10% on Monday after it received approval from the Reserve Bank of India to enter the insurance business through a joint venture with Italian major Generali Group.
Awfis Space Solutions Is IIFL's Top Bet In Flexi Workspaces As It Initiates Coverage: Share Market News
IIFL Securities Ltd. has initiated coverage on Awfis Space Solutions with a 'buy' rating and a target price of Rs 920 per share, implying an upside potential of 45% from the current market price, citing it as the only listed pure play in the flexible workspaces segment.
Power Finance Corp Share Price Surges To Over Two-Month High As Stock Trades Ex-Dividend
Shares of Power Finance Corp. surged in early trade on Monday as the company traded ex-dividend. PFC had announced an interim dividend of Rs 3.50 per equity share on the face value of Rs 10.
Crypto Update: Bitcoin Rally Stalls After Nearing The Historic $100,000 Level
Bitcoin steadied after a rally toward $100,000 fizzled just shy of the historic level, as traders assess whether optimism stemming from President-elect Donald Trump’s support for crypto is becoming stretched.
Adani Group Reports Record First Half — Over $6 Billion Parked With Indian Banks: Share Market News
The Adani Group portfolio companies posted a record first half in the ongoing financial year as well as trailing twelve months performance, led by its incubating businesses with limited net exposure to Indian banks.
According to the company's statement released on Monday, its net exposure to Indian banking was recorded at $11 billion, or 42% of the company's current debt mix. However, the net exposure is low after accounting for cash of $6 billion, most of which is parked with Indian banks.
Five Stocks To Buy: How To Trade HDFC Bank, Infosys, L&T, Trent And BEL
As market starts the week on a strong note, analysts have big names on their radar, including largest private lender HDFC Bank Ltd., Indian IT bellwether Infosys Ltd., engineering giant Larsen & Toubro Ltd., Tata-owned fashion retailer Trent Ltd., and defence major Bharat Electronics Ltd. Most of these stocks have already yielded handsome returns in the year so far.
China Keeps Policy Loan Rate Unchanged For Second Month; CSI 300 Falls Nearly 1%: Asia Market Update
China's CSI 300 was trading nearly 1% lower after China’s central bank kept a policy loan rate unchanged after last cutting it in September, as the authorities stay patient in ramping up monetary stimulus.
Swan Energy Share Price Rises To Nearly Two–Month High
Swan Energy Ltd. share price rose to the highest level since in nearly two months after the company informed the exchanges that its subsidiaries' boards have agreed to a merger.
Swan Energy share price rose 4.07% to Rs 610.70 apiece.
Swan Energy share price rose 4.07% to Rs 610.70 apiece.
Protean eGov Technologies Share Price Falls As Promoter Offloads Stake
In the aftermath of the recent Maharashtra and Jharkhand state assembly elections, Motilal Oswal Financial Services Ltd. has identified its top stock picks, focusing on large-cap and mid-cap stocks across various sectors. The firm is optimistic about certain high-growth areas, particularly after the political outcome, which is expected to uplift market sentiment.
Nifty, Sensex Turn Positive On Monthly Basis As They Trade Nearly 2% Up: Share Market News
Two consecutive days of gains in Nifty and Sensex has helped them turn positive on a monthly basis. This comes after both the indices recorded losses in the month of October.
MSCI Rejig Comes Into Effect Today: To Bring $2.5 Billion Of Passive Inflows, Says Nuvama
The MSCI reshuffle, effective from Nov. 25, 2024, is set to bring India an estimated $2.5 billion in passive foreign inflows, as per Nuvama Alternative & Quantitative Research. This move marks a significant boost to India's position in the MSCI Emerging Markets Index, raising its weight from 19.3% to 19.8%, while China's weight declines slightly from 27% to 26.8%.
Shakti Pumps Locked In Upper Circuit As Stock Trades Ex-Bonus: Share Market News
Shakti Pumps share price jumped to its upper circuit limit as it trades on the ex-date of its 5:1 bonus issue.
Reliance Jumps Nearly 3% After Citi Upgrades To 'Buy': Share Market Updates
Reliance Industries share price rose around 3% after it received an upgrade from Citi Research to 'buy' from 'neutral' as it believes risk-reward for investors has turned favourable along with a potential improvement in regional refining margins.
Read more here.
Zomato To Be Added To Sensex; JSW Steel To Be Removed: Stock Market Live
Shares of Zomato Ltd. surged over 6% on Monday after BSE Ltd. added the restaurant aggregator and food delivery company in its benchmark gauge—BSE Sensex—effective Dec. 23. However, scrip of JSW Steel fell over 2% in early trade on the announcement on exclusion from the benchmark index.
Nifty IT Hits Lifetime High; Most Constituents Up: Share Market News
The Nifty IT index continued to rise for a fourth consecutive session and hit its lifetime high of 43,751.65 points. Seven of the 10 stocks in the index rose while three fell as of 9:38 a.m. Coforge and Persistent Systems rose the most.
All Adani Stocks Rise: Share Market News
All Adani group stocks continued to recover and were trading higher at 9:31 a.m. with Adani Energy and Adani Green rising the most while NDTV traded flat.
Nifty, Sensex Open More Than 1% Higher; Nifty IT Hits Record High: Opening Bell
Mirroring their global peers, Indian benchmarks Nifty and Sensex opened higher on Monday as most of their constituents rose. The sentiment was also uplifted after several brokerages were positive after BJP win in Maharashtra elections.
At pre-open, Nifty 50 was at 24,253.55, up 1.45% or 346.30 points and Sensex rose 1.36% or 1,076.36 to 80,193.47.
"From a technical perspective, the Nifty faces immediate resistance in the 24,400 to 24,800 Levels, said Mandar Bhojane, research analyst at Choice Broking. "The index is currently trading above its 200-day Exponential Moving Average, with support identified in the 23,500 to 23,350 zone, which could attract buying interest from opportunistic traders."
Share prices of HDFC Bank Ltd., Reliance Industries Ltd., ICICI Bank Ltd., Larsen & Toubro Ltd., and Mahindra & Mahindra Ltd. contributed the most to the gains in Nifty. While only JSW Steel weighed.
All sectoral indices gained with Nifty PSU Bank leading and Nifty IT rising the least after hitting its record high.
Nifty, Sensex Add Over 1% At Pre-Open; Zomato, JSW Steel, Escorts Kubota, RVNL In Focus: Market Update
At pre-open, Nifty 50 was at 24,253.55, up 1.45% or 346.30 points and Sensex rose 1.36% or 1,076.36 to 80,193.47.
Yield On The 10-Year Bond Opens Flat
The yield on the 10-year bond opened flat at 6.86%. It closed at 6.87% on Friday, according to data on Bloomberg.
Rupee Strengthens Against US Dollar
Rupee strengthened by 8 paise to open at 84.37 against the US dollar. It closed at 84.45 on Friday, according to data on Bloomberg
Goldman Sachs On India Construction: Share Market News
Pipe sector stocks are mirroring PVC price trends. While Astral outperforms, Prince struggles, according to Goldman Sachs, which said gradual margin recovery is expected and stable channel inventory despite improving real estate demand.
BJP's Maharashtra Win A Positive For Market Sentiment: Jefferies
Jefferies said that BJP's Maharashtra win is a positive for market sentiment as it will provide political stability at national level. The brokerage expects consumption boost, pick up in govt spending in Q2. According to the brokerage, government expenditure is likely to rise by 15% and capex by 25% in H2FY25.
Motilal Oswal on Transport Corporation of India
Motilal Oswal has maintained its 'buy' rating on Transport Corp. of India with a target price of Rs 1,290, implying 22% upside. It expects CAGR of 15%/19%/18% in revenue/EBITDA/PAT over FY24-27 and expects supply chain business revenue CAGR of 16% over FY24-27. It said higher capacity utilization and addition of new ship to boost growth and high proportion of LTL and branch network to aid freight business.
Emkay Cuts Nifty Target By 4% To 25,000 From 26,000: Stock Market News
Emkay has cut its target for Nifty 50 due to poor Q2 earnings season as it expects recovery in consumption growth only in FY26. It said that weakening trends of Q2 earnings season is not alarming and believes markets will mark time in immediate future. It is overweight on IT and energy, underweight on financials and staples.
Oil Price Update: Crude Futures Little Changed After Last Week's Gains On Russia-Ukraine Tensions
At 7:22 a.m., January futures contract of WTI Crude traded flat at $71.24 a barrel and that of Brent Crude was down 0.07% at $75.12 a barrel. Last week Brent and US Crude gained around 6% as Putin said Thursday Russia had fired a ballistic missile at Ukraine and warned of a global conflict.
Asia Market Open: Australia's ASX 200 Hits Record High; Most Indices Up
Most indices of the Asia-Pacific region rose Monday as investors await a slew of economic data to be released this week. Australia's ASX 200 rose to hit its new all-time high of 8,462.10 points due to a rise in healthcare and commodity stocks.
Investors look forward to Korea's central bank rate, India's third quarter GDP, Singapore Inflation, China's industrial profits data, Australia's October inflation along with Tokyo's November inflation to be released this week.
At 7:06 a.m., Australia's ASX 200 rose 0.7%, Japan's Nikkei rose around 2%, South Korea's Kospi was up over 1%, and Hong Kong's Hang Seng was 0.4% higher.
US Market Close: Indices Higher After Business Activity Data
Wall street ended Friday on a positive note after S&P Global's flash U.S. Composite PMI Output Index increased to 55.3 this month, its highest level since April 2022. In October, the reading was 54.1.
S&P 500 closed up 0.35% at 5,969.34, Dow Jones rose 0.97% to close at 44,296.51, and Nasdaq Composite was up 0.16% to close at 19,003.65.
Stock Market Live: GIFT Nifty Trades Near 24,300; Zomato, JSW Steel, Escorts Kubota, RVNL In Focus
At 6:35 a.m., GIFT Nifty was at 24,297.50, up by 279.5 points or 1.2%. Share prices of Zomato, JSW Steel, Escorts Kubota, RVNL and others will be in focus tracking their news flow.
On Friday, the NSE Nifty 50 and BSE Sensex recorded their best sessions in over five months, ending with over 2% gain. The Nifty 50 ended 557.35 points, or 2.39%, higher at 23,907.25, and the Sensex closed 1,961.32 points, or 2.54%, higher at 79,117.11.
The benchmark indices witnessed a sharp rise post 1:30 p.m. on Friday. The Nifty 50 rose as much as 2.6% to 23,956.10, and the Sensex jumped 2.67% to 79,218,19. It's the highest intraday jump since June 5.
Overseas investors remained net sellers of Indian equities for the 38th consecutive session on Friday, while domestic institutional investors stayed net buyers for the 13th straight session.
Foreign portfolio investors net sold stocks worth Rs 1,278.4 crore, according to provisional data shared by the National Stock Exchange. The DIIs were net buyers of shares worth Rs 1,722.2 crore.
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