KEY HIGHLIGHTS
US Futures Decline
As of 3:27 p.m., S&P 500 and Nasdaq 100 future fell 0.05% and 0.14% down, respectively. The Dow Jones Industrial future remained flat.
Economic Data, Events Later Thursday
All: OPEC-JMMC Meetings
US: Challenger Job Cuts YoY
US: Unemployment Claims
US: Trade Balance
US: Natural Gas Storage
UK: MPC Member Greene Speaks
Nifty, Sensex Extend Gains To Fifth Session; Close At Over One-Month High: Market Wrap
Benchmark equity indices turned volatile in the last hour of trade but still managed to close at their highest levels in more than a month tracking records made by their US peers.
Intraday, the Nifty rose as much as 1.6% to 24,857.75, its highest level since October 22 and Sensex added as much as 1.68% to 82,317.74, its highest level since October 9. Nifty ended 1.12% or 274.70 points higher at 24742.15 and Sensex closed 1.19% or 961.90 points up at 81918.23.
Investors now look forward to the outcome of the meeting of monetary policy committee due Friday along with outcome of OPEC meeting. They will also track US unemployment claims.
It appears that the market has already digested tomorrow's MPC outcome, according to Aditya Gaggar, director of Progressive Shares.
"The positive trend is likely to continue but considering the strong rally of the past 4 days, a minor correction is anticipated; however, the Index is heading towards the psychological barrier of 25,000 whereas the support has shifted higher to 24,550," he said.
Share price of Infosys Ltd., ICICI Bank Ltd., Tata Consultancy Services Ltd., Bharti Airtel Ltd., and Reliance Industries Ltd. contributed the most to the gains.
While those of NTPC Ltd., Bajaj Auto Ltd., HDFC Life Insurance Ltd., SBI Life Insurance Ltd., and Grasim Industries Ltd. minimised the gains.
Most sectoral indices rose with Nifty IT recording its highest close.
Market breadth was skewed in favour of buyers. Around 2,144 stocks advanced, 1,821 stocks declined, and 118 stocks remained unchanged on BSE.
Broader markets underperformed. The BSE Midcap and Smallcap indices ended 0.27% and 0.16% higher, respectively.
On BSE, 19 sectors ended higher, one declined, and one remained flat out of 21. The BSE Focused IT rose the most, and the BSE Realty declined the most.
Markets At Close
Nifty and Sensex ends higher for a fifth session to record highest close in around a month
Intraday, the Nifty rose as much as 1.6% to 24,857.75, its highest level since October 22 and Sensex added as much as 1.68% to 82,317.74, its highest level since October 9.
Nifty ends 1.12% or 274.70 points higher at 24742.15
Sensex ends 1.19% or 961.90 points up at 81918.23
Broader indices underperformed. Nifty Midcap 100 ended 0.6% up; Nifty Smallcap 250 closed 0.48% higher
Most sectoral indices rose with Nifty IT recording its highest close
TCS and Infosys were top Nifty gainers
SBI Life and Bajaj Auto fell the most
Rupee Ends Flat Against US Dollar
Rupee closed flat at 84.73 against the US dollar.
It closed at 84.73 on Wednesday.
Source: Bloomberg
Nifty, Sensex Fall Sharply
Nifty, Sensex Rally Around 3% This Week
This week till Thursday, the Indian benchmarks have added around 3% with most of the gains coming in on Thursday.
Nifty IT, Nifty Financial Services Outperform
Except Nifty Realty, Nifty PSU Bank, and Nifty Media, all sectoral indices traded higher at 2:45 p.m. with Nifty IT and Nifty Financial Services outperforming.
Consumer Durables Stocks To Benefit From Real Estate Demand, Premiumisation, Says Goldman Sachs
Real-estate driven demand and premiumisation across categories will drive growth in Indian consumer durables and electricals in financial year 2026, Goldman Sachs said in a note on Wednesday. Moreover, the brokerage expects domestic manufacturing to rise in various categories of the sector.
Share Market News: Aurobindo Pharma Arm Gets US FDA Approval
Aurobindo Pharma arm Eugia has received US FDA final approval for Pazopanib Tablets. It expects to launch tablets in Q4 FY25, an exchange filing said.
Share Market Updates: Nifty IT Trades 2% Up
Nifty IT extended its gains to trade more than 2% higher and record a new lifetime high of 44,884.65 points. All its constituents continued to trade higher.
Share Market News: Marico Management Changes
Vaibhav Bhanchawat has resigned from the post of Marico's COO - India & Foods Business, an exchange filing said. Ashish Goupal will be designated as CEO – India Core Business and CFO Pawan Agrawal will be designated as Group CFO & CEO- International Business.
Europe Market Open: Most indices Up After No-Confidence Vote Against French PM Government
Except UK's FTSE 100 index, which traded flat at 2:01 p.m., all major European indices rose in early trade with Spain's Ibex rising the most. This is amid political uncertainty in France, when its government has been toppled in a vote of no confidence Wednesday.
Asia Market Close: Indices Mixed Amid Political Scenario In France, South Korea
Asia markets were mixed at close as investors assessed political scenario of France and South Korea. After president declared martial law in South Korea, lawmakers filed a motion to impeach President Yoon Suk Yeol. This along with France's no confidence vote against the government of Prime Minister Michel Barnier weighed on the sentiment.
Hong Kong's Hang Seng and South Korea's Kospi ended 0.9% down, while Japan's Nikkei and Australia's ASX 200 rose 0.3% and 0.15% respectively.
Q2 GDP Growth Estimate May Be Revised Upwards: Chief Economic Advisor
Chief Economic Advisor to the Government of India, V. Anantha Nageswaran, has indicated that the Q2 GDP growth estimate may be revised upwards in the coming days.
Stock Recommendation Today: Borosil Renewables, IndusInd Bank, NTPC Green, Paytm
Are Borosil Renewables Ltd. and NTPC Green Energy Ltd. good for a long–term story? What's in store for IndusInd Bank Ltd. and TCI Express next? Should you hold on to Paytm?
Kush Bohra, founder Kushbohra.com and Sameer Dalal owner of Natverlal & Sons Stockbrokers Pvt. answer your queries.
Divi's Labs Share Price Pares Losses After Clarification
In an exchange filing, the pharma company said that it cannot comment on patent lawsuits of big pharma companies & its impact on them. A report Of US Court had said Novartis can't block best-selling drug. The stock had fallen over 6% at open.
Stock Market Live: NBCC Share Price Off Lows After Arm Gets Orders
NBCC arm has received work orders worth Rs 599.4 crore from National Health Mission, Maharashtra, an exchange filing said.
Share Market News: BofA Initiates Coverage On Hyundai With 'Underperform'
The recently listed Hyundai Motor India Ltd. received an 'underperform' rating from Bank of America with a marginal downside citing muted earnings growth profile and lack of catalysts.
The slowing of the personal vehicles industry, pause in premiumisation theme, and capacity constraints have weighed on the listed Indian unit of Korea's Hyundai Motor Group, BoFA said in a note on Dec. 5. "New model launch and market share gain capital missing for now. Risk Reward remains unfavourable."
Share Market News: Nifty, Sensex Recover
At midday, Nifty and Sensex traded more than 1% higher from their day's lows.
Shriram Finance Among Jefferies' Top Picks On Steady Growth Outlook, Asset Quality
Jefferies retained a 'buy' rating on Shriram Finance Ltd., implying an upside of 17% for the stock price, according to a note dated Dec. 4, highlighting that the stock stays among their top picks.
They supported their stance owing to a steady growth outlook for the company, along with asset quality which has held up well.
Bharat Forge Share Price Snaps Rising Streak After QIP Launch
Shares of Bharat Forge Ltd. snapped a nine-day rise on Thursday after the company launched a qualified institutional placement on Wednesday, offering shares at a floor price of Rs 1,323.54 each, as per an exchange filing.
Share Market Updates: Zomato Hits Lifetime High As It Remains Bernstein's Top Pick
Zomato share price rose to for a second consecutive session on Thursday to hit its lifetime high following Bernstein's report analysing Swiggy and Zomato.
Share Market News: Bajaj Auto Top Nifty Loser; Clarifies On UBS' Price Cut Claim On Freedom 125
Bajaj Auto's share price fell the most among Nifty stocks on Thursday a day after UBS had claimed that Bajaj Auto had undertaken price cuts of up to Rs 10,000, just five months after the launch of the two-wheeler. In a clarification, the company said that there has been no price cut on the bike's top variant.
Indraprastha Gas Share Price Rises As Board To Meet To Consider Bonus Issue
Indraprastha Gas Ltd. share price rose as the board of directors is scheduled to meet to consider bonus share issuance on Dec 10. The board will decide ratio in which it will issue shares to equity shareholders, the company said in an exchange filing on Wednesday.
Share Market News: Adani Energy Gets LoI From REC
Adani Energy has got a letter of intent from REC for 20 GW Power evacuation project In Rajasthan. It is subject to certain conditions and binding agreements, an exchange filing said.
Indus Towers Share Price Jumps As Citi Predicts Strong Dividend Yield Post-Vodafone's Exit
Indus Towers Ltd.'s share price surged nearly 5% after Citi Research forecasted a dividend yield for the telecommunications infrastructure company, following Vodafone Group's exit from its stake in it.
CLSA Maintains 'Outperform' For PVR Inox, Zee Despite Challenging Advertising Environment—Here's Why
The media sector in India continues to face a challenging advertising environment, but CLSA's latest report highlights several stocks that are poised for recovery, with PVR Inox, Zee Entertainment, and DB Corp emerging as key players.
KIOCL Share Price Surges As Mangalore Pellet Plant Unit Resumes Operation
The company informed exchanges that the Pellet Plant Unit of the Company situated at Mangalore has resumed its operation.
Share Market Updates: Borosil Renewables Rises 7%
Share price of Borosil Renewables surged more than 7% to hit its highest since August 29 after news of the government initiating anti-dumping duties on textured tempered glass imports from Malaysia.
Stock Market Updates: India VIX Rises Over 5%
India's volatility index surged more than 5% in its gains for a second consecutive session as benchmarks slipped into losses.
Five Stocks To Buy Today: Data Patterns, IREDA, CDSL, LT Foods, Zomato
Analysts have big names on their radar today, including Data Patterns (India) Ltd., Indian Renewable Energy Development Agency Ltd., Central Depository Services (India) Ltd., LT Foods Ltd., and Zomato Ltd. Some of these stocks have delivered over 244% returns in the last year.
Amit Goel, the founder of Amit Ventures, Sudeep Shah, deputy vice-president and head of tech and derivatives research at SBICAP Securities Ltd., and Brijesh Singh, senior technical analyst at Opulent Investment Advisers Pvt. share their stock calls for today.
NDTV Profit Exclusive: Rekha Jhunjhunwala-Backed IKS Health Faces Oppression, Mismanagement Allegations
IPO-bound IKS Health, a healthcare solutions provider backed by prominent investor Rekha Jhunjhunwala, faces allegations of oppression and mismanagement, as per people in the know and a court filing. The allegations stem from a petition filed by two minority shareholders at the National Company Law Tribunal in Mumbai.
What's Driving Niva Bupa Health Insurance Share Price Surge?
There is a lot riding on the expectation of reduced Goods and Services Tax on life and health insurance premiums, which today attract 18% rate. But that is just one of the factors that is influencing the share price of Niva Bupa Health Insurance Ltd., which listed on the stock markets on Nov. 14. The stock has run-up over 30% this week, triggered by reports of GST tax rate reduction.
Stock Market Updates: Adani Bond Portfolio's Liquidity Stable, Short-Term Papers Attractive, Says JPMorgan
Billionaire Gautam Adani's group companies liquidity seems stable after accounting for near-term maturities for offshore debt, JPMorgan said, adding that Adani Green Energy Ltd.'s bond issue will be in focus.
Share Market News: Vodafone, Indus Towers Rise Over 4%
Shares of Vodafone and Indus Tower rose more than 4%. UK's Vodafone Group Plc will divest its entire 3% stake in Indus Towers Ltd. via open market deals, the company announced on Wednesday. The British telecom operator will offload 7.9 crore shares that are held by its local affiliates Omega Telecom Holdings Pvt. and Usha Martin Telematics Ltd.
Stock Market Live: Nifty IT Hits All-Time High
Nifty IT advanced for a fifth consecutive session Thursday to hit a fresh record high of 44,388 points with all its constituents trading with gains.
Nifty, Sensex Open Higher As IT Stocks, RIL Lead Gains: Opening Bell
Benchmark equity indices opened higher Thursday tracking positive sentiment from the Wall Street with shares of IT companies and Reliance Industries contributing the most.
At pre-open, Nifty was at 24539.15, up 0.29% or 71.70 points and Sensex was at 81183.70, up 0.28% or 227.37 points.
"The 50-day moving average is currently positioned near 24,625, which represents a crucial resistance level," said Ameya Ranadive, senior technical analyst at StoxBox. "A decisive breach above this threshold could indicate the beginning of a sustainable uptrend."
Nevertheless he added that market participants should remain vigilant for ongoing volatility if the Nifty stays below this level
Share price of Infosys Ltd., Reliance Industries Ltd., Tata Consultancy Services Ltd., Bharti Airtel Ltd., and ICICI Bank Ltd. contributed the most to the gains.
While those of Power Grid Corp. Of India, Larsen & Toubro Ltd., HDFC Bank Ltd., NTPC Ltd., and Oil & Natural Gas Corp. Ltd. minimised the upside.
Most sectoral indices were higher with Nifty IT leading.
Morgan Stanley Maintains 'Underweight' On Hero
Morgan Stanley has maintained its 'underweight' rating on Hero MotoCorp. with target of Rs 4,110, implying downside of 11% as company launches electric scooter, Vida V2 across segments and sustained market share gains are key to re-rating.
Nifty, Sensex Higher At Pre-Open
At pre-open, Nifty was at 24539.15, up 0.29% or 71.70 points and Sensex was at 81183.70, up 0.28% or 227.37 points.
Yield On The 10-Year Bond Opens Flat
-The yield on the 10-year bond opened flat at 6.68%.
-It closed at 6.68% on Wednesday.
Source: Bloomberg
Rupee Opens Flat Against US Dollar
-Rupee opened flat at 84.74 against the US dollar.
-It closed at 84.73 on Wednesday.
Source: Bloomberg
Bernstein On Zomato Vs Swiggy
Bernstein has rated 'outperform' with target of Rs. 335, implying 20% upside and said the company has a a wider city presence than Swiggy. It has deeper penetration in Tier2+ cities triving higher monthly transacting users while Swiggy has higher frequency of users. Blinkit has 1.5 times higher monthly transacting users than instamart, it said.
Citi On Indus Towers
Citi has opened 90-day positive catalyst watch on Indus Towers with a target of Rs 485, implying 35% upside as Vodafone plans to sell balance 3% stake on Indus Towers for Rs 27-28 billion and expects Rs 19-20 billion to be infused by Vodafone PLC into Vodafone Idea for clearing past dues of Indus. The brokerage said, Indus could declare a dividend of Rs 7 per share due to Vi repayments and dividend could be 6% in FY26-27 making it compelling investment proposition.
Crypto Update: Bitcoin Crosses $100,000 Mark For First Time
At 8:34 a.m., Bitcoin traded more than 0.3% higher at $102,235.00. This came after Donald Trump said he plans to nominate Paul Atkins as SEC chair.
Oil Price Update: Crude Oil Flat Ahead Of OPEC+ Decision
At 8:27 a.m., February futures contract of Brent Crude was 0.06% higher at $72.35 a barrel and January futures contract of WTI Crude was 0.1% higher at $68.62 a barrel. Market participants expect OPEC+ to extend supply cuts in its meeting to be held later Thursday.
Asia Market Open: Indices Mixed; Hang Seng Down 1%
Asia-pacific indices were mixed in the early trade. At 8:00 a.m., Hong Kong's Hang Seng fell over 1%, South Korea's Kospi by 0.2%, and China's CSI 300 was 0.4% lower. While Japan's Nikkei and Australia's ASX 200 added 0.6% and 0.2% respectively.
US Market Close: Indices Record Highest Closing
Three benchmark indices in the US hit fresh record highs after the Federal Reserve Chair Jerome Powell said the economy is stronger than what the central bank expected in September. Dow Jones advanced 308.51 points, or 0.69%, to 45,014.04, S&P 500 gained 0.61% to close at 6086.49, while Nasdaq Composite advanced 1.3% to close at 19,735.12.
GIFT Nifty Trades Above 24,500; Vodafone, Hero MotoCorp, Indus Towers In Focus
The GIFT Nifty was trading 0.04%, or 11 points, higher at 24,515.00 as of 7:31 a.m. Among others, share prices of Vodafone Idea Ltd., Hero MotoCorp Ltd., Indus Towers Ltd. will remain in focus tracking news flow.
On Wednesday, the NSE Nifty 50 and the BSE Sensex closed higher for the fourth consecutive session on Wednesday, clocking their best winning streak in months.
The Nifty 50 ended 10.30 points, or 0.04%, higher at 24,467.45, and the Sensex closed 110.58 points, or 0.14%, up at 80,956.33. In the last four sessions, the indices gained 1.39% and 1.45%, respectively.
During the day, the Nifty 50 rose 0.47% to 24,573.20, and the Sensex advanced 0.49% to 81,245.39. The Sensex reclaimed the 81,000 mark for the first time in 29 sessions since Oct 21.
Overseas investors stayed net buyers of Indian equities for the second consecutive session on Wednesday, while domestic institutional investors stayed net sellers for a second day.
Foreign portfolio investors mopped up stocks worth Rs 1,797.60 crore, and the domestic institutional investors sold shares worth Rs 900.62 crore, according to provisional data shared by the NSE.
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