KEY HIGHLIGHTS
US Futures Trade Higher
As of 3:26 p.m., futures contracts of Dow Jones Average and S&P 500 futures were trading 0.11% and 0.28% higher, respectively. The Nasdaq 100 futures contract was 0.48% higher
Events, Economic Data Later Monday
UK: BOE Quarterly Bulletin
US: Consumer Confidence
Rupee At Record Closing Low Against Dollar
-Rupee closed 10 paise weaker at 85.12 against the US dollar.
-It closed at 85.02 on Friday.
Source: Bloomberg
Nifty, Sensex Snap Five-Day Fall; JSW Steel, ITC Top Gainers
Benchmark equity indices tracked the gains in US and Asia markets to close higher on the first session of Christmas week. Before today, both the indices had lost nearly 5% last week.
Nifty ended 0.7% or 165.95 points up at 23753.45 and Sensex closed 0.64% or 498.58 points higher at 78540.17. Intraday, both the indices had gained more than 1%.
Globally, sentiment was bolstered as November US PCE data cooling more than expected in eased fears of future rate hikes in the country.
"With a bullish cypher pattern in the picture, the Indian equities started the session on a firm note and it was coupled with a follow-through momentum, but in mid-session, a reversal was seen and the Index wiped off some of its gains," said Aditya Gaggar, director of Progressive Shares.
"A strong and sustainable move above the zone of 23,850-24,000 will confirm a trend reversal whereas on the downside, the level of 23,600 will continue to act as a support," he said.
Shares of HDFC Bank Ltd., Reliance Industries Ltd., ITC Ltd., ICICI Bank Ltd., and State Bank Of India contributed the most to the gains of Nifty.
While those of Tata Consultancy Services Ltd., Maruti Suzuki Ltd., HCL Technologies Ltd., and Hero MotoCorp Ltd., and Tata Motors Ltd. weighed.
Except Nifty Auto and Media, all sectoral indices rose.
Market breadth was skewed in favour of sellers. Around 2,442 stocks declined, 1,639 stocks advanced, and 137 stocks remained unchanged on BSE.
Broader markets end mixed on BSE. The BSE Midcap ended 0.10% up, and Smallcap indices ended 0.60% down.
On BSE, 16 sectors advanced, five declined out of 21. The BSE Realty advanced the most, and the BSE Industrial declined the most.
Markets At Close
Nifty and Sensex fell snap five-session fall
Intraday, both the indices had gained more than 1%.
Nifty ends 0.7% or 165.95 points up at 23753.45
Sensex ends 0.64% or 498.58 points higher at 78540.17
Broader indices underperformed. Nifty Midcap 100 ended 0.3% up; Nifty Smallcap 250 closed 0.4% lower
Except Nifty Auto and Media, all sectoral indices rose
ITC and JSW Steel were top Nifty gainers
Hero MotoCorp and Maruti Suzuki fell the most
Adani Enterprises Ark In Pact With Air Works India
Arm Adani Defence Systems Signs Share Purchase Agreement With Air Works India
Arm Adani Defence Systems Acquires 85% Stake In Air Works India For Rs 400 Crore Enterprise Value
Source: Exchange Filing
India Markets To Remain Open On Feb 1, Saturday
On account of the presentation of the Union Budget, Exchange shall be conducting live trading session on February 01, 2025, as per the standard market timings applicable for morning session, NSE said.
Europe Market Open: Indices Fall Bucking Global Trend
European indices fell in the early trade, bucking the trend in global markets. Investors also assessed UK's GDP which showed no sequential growth in the third quarter. At 2:44 p.m., pan European Stoxx 50 fell 0.2%, UK's FTSE 100 traded 0.15% down, Germany's DAX lost 0.1%, France's CAC 40 0.2%, and Spain Ibex 35 lost 0.3%.
Asia Market Close: Indices Higher Tracking Global Markets, Nissan-Honda Merger
Indices in the Asia-Pacific region ended the first day of Christmas week on a positive note tracking overnight gains in the US and updates on Nissan-Honda merger. Japan's Nikkei closed 1.2% higher, Australia's ASX 200 1.7% up, South Korea's Kospi rose 1.6%, and China's CSI 300 was 0.15% higher.
Trading Ideas: Experts Prefer Anant Raj And Lupin In Their Respective Sectors; Advise To Cut JTL
Market experts choose Anant Raj Ltd. in real estate space, while Lupin Ltd. in the pharma sector. They advise to reduce position or exposure to JTL Industries Ltd. Experts ask traders to wait for clarity over Bharat Global Developers Ltd.'s suspension.
Stock Market News: Eco Recycling Approves Fund Raise
Eco Recycling board has approved raising funds Via QIP, an exchange filing said.
Bumper Listings Incoming: What GMP Trends Of Mamata Machinery, DAM Capital And Other IPOs Indicate
As India's primary market is set to witness the close of five mainboard initial public offerings on Monday, their grey market premiums point to a bumper Christmas listing.
The highest grey market premium in the list is of Mamata Machinery Ltd.'s IPO, which has been subscribed over 50 times so far on its final day of listing. Mamata Machinery's shares are set to hit the bourses at a staggering 107% premium over its IPO price, as per InvestorGain data.
IPO Update: Unimech Aerospace IPO Fully Subscribed On Day 1
Engineering solutions company Unimech Aerospace And Manufacturing Ltd.'s initial public offering has been fully subscribed on its first day of bidding.
The grey market premium of Unimech Aerospace IPO is Rs 480 as of 08:56 a.m. on Dec. 23, according to InvestorGain. This implies shares of the company will likely list at Rs 1,265 apiece, indicating a 61.15% premium to the upper end of the price band.
Praj Industries National Highway Inaugurated
Praj Industries announced that the Hon’ble Minister Shri Nitin Gadkari inaugurated India’s first national highway using BioBitumen, a product developed by the company, as per their exchange filing.
Linc Share Price Tumbles Nearly 10% On Bonus Allotment To Shareholders
Shares of Indian stationery firm Linc Ltd. plunged nearly 10% on Monday after it allotted 2.97 crore bonus shares to its shareholders as part of its move to enhance liquidity of the company's shares.
Share Market News: October TRAI Data
Reliance Jio net lost 37.6 lakh mobile subscribers
BSNL net addition of mobile subscribers at 5 lakh
Bharti Airtel net addition of mobile subscribers At 19.3 lakh
Vodafone Idea net lost 19.8 lakh mobile subscribers
Source: Bloomberg
Stocks To Buy Today: Cipla, Jupiter Wagons, Raymond Lifestyle And More
Analysts have given 'buy' calls on several shares including Cipla Ltd., Raymond Lifestyle Ltd., Jupiter Wagons Ltd., United Breweries Ltd., and more.
The stock calls came from Kush Bohra, founder of Kushbohra.com, Swati Hotkar of assistant vice president of Technical Research at Nirmal Bang, Ajit Mishra, senior vice president of Research at Religare Broking, Osho Krishan, senior research analyst for technicals and derivatives at Angel One and Brijesh Singh, a senior technical analyst at Opulent Investment Adviser.
Stock Of The Day: Zomato Tests Correction Zone After Sensex Inclusion
Zomato Ltd. shares tested the so-called 'correction zone' in early trade on Monday, a day after the stock's inclusion in the benchmark BSE Sensex index. The food delivery aggregator replaced JSW Steel Ltd. in the latest rejig, which came into effect from close of business last Friday.
Tata Steel, JSW Steel To Benefit Most If Industry's Appeal Implemented As DGTR Starts Probe, Says Investec
Tata Steel and JSW Steel will reap the most benefits if Indian Steel Association's appeal asking for provisional measures and tariffs for 4 years is accepted, Investec indicated in a report after the Director General of Trade Remedies started its investigation.
JSW Infra Bags New 'Buy' With 30% Potential Upside From Dam Capital On Robust Growth Visibility
JSW Infrastructure Ltd. received a 'Buy' coverage initiation from Dam Capital with a 30% upside for the stock on robust growth visibility and opportunities with increasing capacity in major ports.
The HDFC Bank Conundrum: Fear Of Missing Out
A few things have not worked out for India's largest private sector bank — HDFC Bank Ltd. Analysts, though, might argue it is little more than a few things. To begin with, the merger didn't bring the synergies and scale expected by the street. It is taking its own time!
Read here.
Sagility India Share Price Falls After Hitting Highest Since Listing
Sagility India's share price snapped its five-session rally and fell after it hit its highest level since listing.
Vedanta Share Price Rises As Co Revise Demerger Terms
Shares of Vedanta Ltd. climbed in early trade on Monday after the company revised the terms of its demerger on Friday, to retain its base metals unit with the parent instead of listing it as a separate entity.
Stock Market Update: Siemens Share Price Hits Lowest In A Month
Siemens Ltd. share price declined to one-month low on Monday as Nuvama downgraded the stock rating and cut target price after flagging challenges to its growth in near term.
Stock Market Live: Nifty, Sensex Snap Five-Day Decline As HDFC Bank, RIL Rise
Benchmark equity indices of India came out of their five-day losing streak and started the week on a positive note tracking gains in global markets.
At pre-open, Nifty 50 was at 23738.20, 0.64% or 150.70 points higher and Sensex was at 78490.19. up 0.57% or 448.60 points.
"In this volatile environment, traders are advised to exercise caution, implement strict stop-loss measures, and avoid carrying long positions overnight to manage risk effectively," said Hardik Matalia, derivative analyst, at Choice Broking.
On the downside, he said that the 23,500 level acts as critical support. "A breach of this level could trigger further declines toward the 23,200–23,000 zone," he said. "Conversely, on the upside, 24,000 serves as an immediate resistance level, with 24,200 posing a significant hurdle. A sustained close above 24,200 is necessary to reverse the prevailing bearish trend. "
Shares of HDFC Bank Ltd., Reliance Industries Ltd., Infosys Ltd., ICICI Bank Ltd., and ITC Ltd. contributed the most to the gains. While those of NTPC Ltd., SBI Life Insurance Co. Ltd., HDFC Life Insurance Co. Ltd., Apollo Hospitals Enterprises Ltd., and Eicher Motors Ltd. capped the upside.
All sectoral indices opened higher with Nifty Metal gaining the most.
Stock Market Today: Nifty, Sensex Higher At Pre-Open
At pre-open, Nifty 50 was at 23738.20, 0.64% or 150.70 points higher and Sensex was at 78490.19. up 0.57% or 448.60 points.
Yield On The 10-Year Bond Opens Flat
-The yield on the 10-year bond opened flat at 6.79%.
-It closed at 6.79% on Monday.
Source: Bloomberg
Rupee Opens Flat Against US Dollar
-Rupee opened flat at 84.85 against the US dollar.
-It closed at 84.85 on Friday.
Source: Bloomberg
Stock Market News: Motilal Oswal Raises Siemens' Target
Motilal Oswal has reiterated 'buy' on Siemens' stock and has revised its target to Rs 8,000. It maintains selective outlook toward HVDC projects with VSC technology and said most upcoming HVDC projects are likely to be on LCC technology The brokerage believes weak inflow for ex-Energy to weigh on near term performance.
Asia Market Open: Indices Higher Tracking Wall Street
Asia-Pacific markets were trading higher on Monday, tracking Friday's overnight gains on Wall Street following positive economic data and in anticipation over developments in the Nissan and Honda Motor merger. At 8:27 a.m., South Korea's Kospi rose 1.4%, China's CSI 300 rose 0.8%, Australia's ASX 200 was 1.3% up, and Japan's Nikkei rose 0.9%.
US Market Close: Indices UP After PCE Data
On Friday, US indices rose after Personal Consumption Expenditure data came lower than expected in November. The Dow Jones Industrial Average and S&P 500 ended 1.18% and 1.09% higher, respectively. The Nasdaq Composite ended 1.03% higher.
GIFT Nifty Trades Near 23,800; UltraTech Cement, Vedanta, UPL, Indian Oil In Focus
The GIFT Nifty was trading 0.06% or 15.50 points higher at 23,797.00 as of 7:33 a.m. Among others, share prices of UltraTech Cement, Vedanta, UPL, and Indian Oil will remain in focus tracking news flow.
India's benchmark equity indices ended at the lowest in over a month on Friday and recorded the worst week in months as hawkish outlook from the US Federal Reserve rattled global markets across the globe.
The NSE Nifty 50 closed 364.20 points, or 1.52% down at 23,587.50, and the BSE Sensex ended 1,176.46 points, or 1.49% lower at 78,041.59.
Overseas investors stayed net sellers for the fifth consecutive day and collectively offloaded stocks worth Rs 15,828 crore. Domestic institutional investors stayed net buyers for the fourth straight day.
The foreign portfolio investors offloaded stocks worth approximately Rs 3,597.8 crore on Friday, while the DIIs bought stocks worth Rs 1,374.4 crore, according to provisional data from the National Stock Exchange.
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