KEY HIGHLIGHTS
US Futures Rise
Futures contract of Dow Jones rose 0.2%, that of S&P 500 rose 0.3%, and Nasdaq 100's futures contract rose 0.6%.
Economic Data, Events Later Friday
Europe: Industrial Production month-on-month
US: Import Prices month-on-month
Sensex, Nifty Clock Longest Weekly Gaining Streak In Nearly Five Months: Closing Bell
Ending higher on Friday's volatile trading session, helped benchmark equity indices record a fourth straight week of gains. Intraday, on Friday both the Nifty and Sensex had fallen over 1% and also rose more than 1%.
The market now looks forward to US FOMC decision next week. CME FedWatch Tool showed 96.7% chance of a 25 bps rate cut in December meeting.
Nifty ended 0.89% or 219.60 points up at 24768.30 and Sensex closed 1.04% or 843.16 points higher at 82133.12.
"Technically, after a short-term correction last Friday, the market bounced back sharply. It not only reclaimed the 50-day SMA (Simple Moving Average) at 24400/80200 but also succeeded in closing above it, which is largely positive," said Amol Athawale, VP-technical research at Kotak Securities. "Additionally, it formed a promising reversal formation on daily charts, supporting a further uptrend from the current levels."
"The Nifty50 index opened with a slight gap down and faced intense selling pressure in the first hour, dropping nearly 360 points from the previous close," Ameya Ranadive senior technical analyst at StoxBox said. "However, it attracted modest buying interest near 24180, leading to a remarkable V-shaped recovery of 600 points, which culminated in a strong finish in the upper quartile of the trading range."
Share prices of Bharti Airtel Ltd., ICICI Bank Ltd., HDFC Bank Ltd., ITC Ltd., and Reliance Industries Ltd. contributed the most to gains. While those of Shriram Finance Ltd., Tata Steel Ltd., JSW Steel Ltd., IndusInd Bank Ltd., and Hindalco Industries Ltd. capped the upside.
Nifty FMCG and Nifty Bank were the top gainers on Friday and Nifty Metal fell the most.
Market breadth was skewed in the favour of sellers. As many as 2,151 stocks declined, 1,836 rose, and 118 remained unchanged on the BSE.
Broader indices underperformed. BSE Midcap ended 0.1% lower and BSE Smallcap fell 0.3%.
Six of 21 sectoral indices on the BSE ended lower and remaining rose. BSE Metal fell the most.
Weekly Performance
On a weekly basis, Nifty gained 0.4% and Sensex ended 0.5% up. Nifty IT gained the most this week after it hit its lifetime high on Friday while most sectoral indices fell.
Markets At Close
Nifty and Sensex end higher for a fourth week
Intraday, both Nifty and Sensex had risen and fallen around 1% each
Nifty ends 0.89% or 219.60 points up at 24768.30
Sensex ends 1.04 % or 843.16 points higher at 82133.12
Broader indices underperformed. Nifty Midcap 100 ended flat; Nifty Smallcap 250 closed 0.3% lower
Most sectoral indices rose with Nifty FMCG rising the most
Bharti Airtel and Kotak Mahindra Bank were top Nifty gainers
Shriram Finance and Tata Steel fell the most
Bumper Or Tepid Returns? What IPO GMP Of MobiKwik, Inventurus, IGI, Sai Life, Vishal Mega Mart Suggests
A total of five initial public offerings in the mainboard segment were available for subscription on Friday. Among them, the grey market premium was strong on the IPOs of One MobiKwik Systems and Inventurus Knowledge, whereas the GMP signalled modest listing for Vishal Mega Mart, International Gemmological Institute and Sai Life Sciences.
Stock Market Live: GE Shipping Delivers 2005 Built Medium Range Tanker
The Great Eastern Shipping Company Limited has delivered its 2005 built Medium Range product tanker “Jag Padma” to the buyers, the company said in an exchange filing. The vessel was contracted for sale in October 2024.
Europe Market Close: Indices Rise After Opening Lower
At 2:36 p.m., pan-European Stoxx 50 was 0.3% up, Germany's DAX was up 0.3%, UK's FTSE 100 was 0.1% up, and France CAC 40 rose 0.2%.
Asia Market Close: CSI 300 Loses The Most As Stimulus Falls Short Of Expectations
Indices in the Asia-Pacific region fell Friday with China's CSI 300 losing more than 2% as stimulus announcements in economic planning committee fell short of market expectations. Hong Kong's Hang Seng also fell over 2%, Australia's ASX 200 fell 0.4%, and South Korea's Kospi fell 0.5%.
Trading Ideas: Hold Tata Motors, Tata Tech, Bank Of Baroda For Long-Term, Say Market Experts
For how long should you be invested in shares of Tata Motors, Tata Technologies, and Bank of Baroda? How should you trade shares of Vedanta and NTPC Green? Sameer Dalal, owner of Natverlal & Sons Stockbrokers and Kushal Gandhi, technical analyst at Stoxbox answer these queries and more.
Read here.
Stock Market Live: November SIAM Data
Local 2-wheeler sales in November were at 16.1 lakh units , passenger vehicle sales at 3.5 lakh units, local car sales fall to 97,186 units, local utility vehicle sales at 1.9 lakh units, according to SIAM data.
Source: Bloomberg
Share Market News: Larsen & Toubro Gets 'Reduce' Downgrade From Kotak As Margin Pressures Weigh
Indian infrastructure giant Larsen & Toubro Ltd.'s stock was downgraded to 'reduce' by Kotak Institutional Equities after the recent "strong uptick" in scrip amid a potential weakness in its margin improvement.
The brokerage assigned a target price of Rs 3,650 per share, implying a downside of 5.4% from the previous close on the NSE.
Stock Market Live: ICICI Bank Approves Selling 19% Stake In ICICI Merchant Services
ICICI Bank has approves selling 19% stake in ICICI Merchant Services in the range of Rs 160-190 crore before June 30, 2025, an exchange filing said.
Share Market Update: Nifty IT Hits Lifetime High
Nifty IT rose for a fifth consecutive session on Friday and hit its highest level of 46,059 points.
Some Sectoral Indices Recover Amid Gains In Benchmarks
Nifty FMCG and Nifty IT were the top gainers after opening lower.
Stock Market Live: Astra Microwave JV Bags Order Worth Rs 255.88 Crore
Astra Rafael Comsys Private Limited, a joint venture company of Astra Microwave, has bagged Rs 255.88 crores worth of order on Friday from Ministry of Defence for procurement of 93 numbers of additional sets of Software Defined Radios.
Stock Of The Day: This Tata Stock Reels Under Bearish Pressure As Outlook Sours
Dalal Street bears continue to bets on Tata Motors Ltd. after a run-up in the earlier half this year, as weak demand and other headwinds haunt the stock in the latter half.
The counter of the third largest Tata Group company fell for the fifth consecutive day on Friday to end the week by nearly a 5% decline after the auto-maker announced price hikes of its commercial vehicles from the new year. The benchmark NSE Nifty 50 is down by 1.7% on a weekly basis.
Aether Industries Gets 'Reduce' From Kotak With 10% Potential Downside—Here's Why
Aether Industries Ltd. received a 'Reduce' rating from Kotak Institutional Equities as it initiated coverage on the speciality chemicals firm. The stock fell over 3% during the session.
Stock Market Live: UBS on India Banks
Top Picks: HDFC Bank, ICICI Bank & Federal Bank
IndusInd Bk: Neutral, Target Cut To Rs 1,150 From Rs 1,350
IndusInd Bk: Cut EPS By 5%/6% For FY25/26
Axis Bank: Neutral, Target Cut To Rs 1,210 From Rs 1,250
AU Small Fin Bank: Neutral, Target Cut To Rs 640 From Rs 750
Non-Performing Loans Risks Increased For CV And Business Loans
Raise Credit Cost Estimate By 2-25 bps Across Lenders
Among NBFCs, Increase Credit Cost Estimate For FY25/26 By 1-20 bps & Cut FY25/26 EPS By 1- 7%
Increase Credit Cost Est & Cut In EPS For For Bajaj Fin, Cholamandalam Invst, Shriram Fin & M&M Fin
Cholamandalam Invst: price target of Rs 1,530 (Rs 1,680 earlier)
Shriram Fin: price target of Rs 3,800 (Rs 3,850 earlier)
M&M Fin: price target of Rs 300 (Rs 310 earlier)
Stock Market Live: Sensex Recovers From 1,000-Point Fall, Nifty Erases Losses To Trade Flat
Nifty and Sensex recovered from their losses and traded flat at noon.
IndusInd Bank Share Price Hits Lowest In 29 Months
IndusInd Bank's share price fell to hit its lowest since July 27, 2022.
NHPC Share Price Pares Gains After Revised Plan To Borrow Rs 6,900 Crore Gets Board Nod
NHPC Ltd. share price see-sawed after its board of directors approved revising the borrowing plan for the current fiscal. The stock rose around 1%, before erasing gains and falling over 2%.
In a meeting on Thursday, the NHPC board approved raising up to Rs 6,900 crore via non-convertible debentures by March 2025. As part of this plan, the company will also raise up to Rs 2,600 crore through AE-series bonds on private placement basis.
Consumer Stocks To End 2024 At A Loss — Demand Double Whammy At Play
Indian consumer stocks, once buoyed by hopes of recovery, are closing out the year on a sour note, with share prices sliding amid mounting concerns about a bleak outlook for the year ahead.
Indian Oil Share Price Gains After Jefferies' 'Buy' Upgrade
Indian Oil Corp.'s share price gained over 2% after Jefferies upgraded the stock to a 'buy' rating. IOCL has the most leverage among its peers to benefit from an improvement in refining margins, owing to its high refining-to-marketing ratio, the brokerage said.
Read here.
Hindustan Aeronautics Share Price Rises After Rs 13,500-Crore Order Win
Shares of Hindustan Aeronautics Ltd. gained over 2% after it won a Rs 13,500-crore order from the Ministry of Defence.
The order, signed on Dec. 12, involves the procurement of Su-30MKI aircraft, with a significant focus on indigenisation—62.6% of the components will be sourced locally, aligning with India's ‘Aatmanirbhar Bharat’ initiative.
Stock Market Live: India's Volatility Index Surges As Benchmarks Fall Over 1%
India's volatility gauge surged on Friday after falling consecutively for the last five sessions. At 10:30 a.m., the index traded 6.6% up at 14.05 level.
Share Market News: Ashok Leyland Announces Price Hikes
Ashok Leyland announced price increase of up to 3% on entire range of commercial vehicles effective January 2025, an exchange filing said.
Five Stocks To Buy Today: Tata Steel, Senco Gold, Shriram Finance, Chalet Hotels And EIH
Analysts have 'buy' calls on shares of Senco Gold Ltd., Shriram Finance Ltd., EIH Ltd., Chalet Hotels Ltd. and Tata Steel Ltd. The stock calls came from Kushal Gandhi, a technical analyst at StoxBox, Ruchit Jain, Vice President of equity technical research and wealth management at Motilal Oswal Financial Services Ltd., Sudeep Shah, Deputy VP Head of tech and derivatives research at SBI CAP Securities.
Read here.
Indian Stocks To Outperform EMs In 2025 As Slowdown To Be Short-Lived: Morgan Stanley
Indian stock market will continue to beat its emerging peers in the upcoming year as the recent slowdown is "transient" with more domestic inflows, creating a never-before-seen virtuous cycle, according to Morgan Stanley.
Siyaram Silks Share Price Hits Lifetime High
Siyaram Silks share price surged to hit its lifetime high after it launched Cadini Italy perfumes in India.
Zomato Share Price Tumbles After Rs 803.4-Crore GST Penalty Notice
Shares of Zomato Ltd. declined over 2% on Friday after the food delivery platform received a tax demand from the Goods and Services Tax department.
The notice, issued by the Joint Commissioner of CGST & Central Excise in Thane, Maharashtra, outlined a penalty of Rs 803.4 crore for the period between October 29, 2019, and March 31, 2022.
Nifty, Sensex Open Lower As Infosys, RIL Share Prices Drag: Opening Bell
Benchmark equity indices extended its fall to a second session tracking global sentiment as share prices of Infosys and Reliance weighed on them.
At pre-open, Nifty 50 was at 24498.35, down 0.21% or 50.35 points and Sensex was at 81212.45, down 0.10% or 77.51 points.
Vikas Jain, head of research at Reliance Securities said, "On the higher side crossover of 24,700 will give a strong breakout to move higher to 25,000 levels from this congestion range over the past 6 days."
RSI is trending near the lower range and could witness some pullback with the movement in the underlying index from current levels, he added.
Share prices of Infosys Ltd., HDFC Bank Ltd., Larsen & Toubro Ltd., Reliance Industries Ltd., and Mahindra & Mahindra pulled the Nifty lower.
While those of Bharti Airtel Ltd., Hindustan Unilever Ltd., Bharat Petroleum Corp. Ltd., Tata Motors Ltd., and Eicher Motors Ltd. capped the downside.
Stock Market Live: Nifty, Sensex Lower At Pre-Open
At pre-open, Nifty 50 was at 24498.35, down 0.21% or 50.35 points and Sensex was at 81212.45, down 0.10% or 77.51 points.
Rupee Opens Flat Against US Dollar
-Rupee opened flat at 84.86 against the US dollar.
-It closed at 84.87 on Thursday.
Source: Bloomberg
Share Market News: Ambuja Cement Commissions New Project
"Ambuja Cements, the cement and building material company of the diversified Adani Portfolio, has successfully commissioned and started power transmission from its 200 MW solar power project in Khavda," an exhchange filing said. "The balance 806 MW capacity from this project is at various stages of commissioning and expected to start transmitting in phases between March 2025 and June 2025."
Stock Market News: Morgan Stanley on India's Bull Run
India's ongoing bull market has become the longest in history, Morgans Stanley said and added that current "aging" bull market has more legs than what may be widely believed. The markets overtakes the 2003-08 one in length, but a third of its cumulative return. Records much better gains relative to emerging markets than all previous bull markets.
Asia Market Open: Indices Open Lower
Asia–Pacific markets were trading on a negative note on Friday as traders shift their focus to the Federal Reserve's policy meet next week. The Nikkei 225 and S&P ASX 200 were trading 1.5% and 0.7% down respectively at 8:00 a.m. Hang Seng fell around 2% while Kospi rose 0.1%.
US Market Close: Stock Indices End Lower
On Thursday, stock indices ended lower after a set of economic data showed a mixed picture of the economy. The Dow Jones Industrial Average and S&P 500 ended 0.53% and 0.54% down, respectively. The Nasdaq Composite ended 0.66% down.
GIFT Nifty Trades Above 24,500; Tata Motors, NHPC, Kalpataru, Zomato In Focus
The GIFT Nifty was trading flat at 24,539.50 as of 7:17 a.m. Share prices of Tata Motors, NHPC, Kalpataru, and Zomato will remain in focus today.
The NSE Nifty 50 and BSE Sensex ended at the lowest level in over a week as shares of Reliance Industries Ltd., Larsen & Toubro Ltd., and Hindustan Unilever Ltd. dragged.
The Nifty 50 ended 93.10 points, or 0.38%, down at 24,548.70, while the Sensex ended 236.18 points, or 0.29%, lower at 81,289.96.
Overseas investors remained net sellers of Indian equities on Thursday for the second consecutive day, while domestic institutional investors remained net buyers for the third consecutive session.
Foreign portfolio investors offloaded stocks worth Rs 3,560.01 crore, whereas the DIIs bought stocks worth Rs 2,646.65 crore, according to provisional data shared by the National Stock Exchange.
The Indian rupee closed 3 paise lower at 84.87 against the US dollar on Thursday.
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