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Share Market Today: Sensex, Nifty Extend Losing Run; Broader Markets Follow Suit

Share Market Today: Sensex, Nifty Extend Losing Run; Broader Markets Follow Suit
Dalal Street. (Source: BQ Prime/ Photographer: Vijay Sartape.)
3 years ago
The S&P BSE Sensex closed 238 points lower, down by 0.38% at 62,388.07. While, NSE Nifty 50 ended the trading day 91 points lower, down by 0.49X% at 18,551.75.

  • Winemaker Sula Vineyards’s Rs 960-crore IPO to run from December 12-14.

  • Price band for the IPO set at Rs 340-357.

  • The issue is a pure offer-for-sale.

  • Source: Company press conference

The broader indices mirrored their larger peers, with the mid-cap and small-cap gauges losing 0.26% and 0.31%, respectively.

Thirteen of the 20 sectoral indices compiled by BSE declined with S&P BSE Realty losing over 0.95%.

The market breadth is skewed in favour of the bears. About 1,503 stocks rose, 1,862 fell and 138 stocks remained unchanged.

Source: Bloomberg, Exchanges

  1. India’s GDP Growth is resilient. It is holding on and doing well in a world of slowing growth.

  2. Headline inflation is moderating and worst of inflation is behind us. Globally, the same trend is visible.

  3. While inflation is moderating, there is no room for complacency. The battle on inflation is not over.

  4. We are ready to undertake liquidity operations but will look for durable signs of turn in liquidity cycle.

  5. Story of Indian rupee is one of resilience and stability. We remain committed to act in the event of excessive volatility in currency market.

  6. Current account deficit is eminently managed. Let there be no doubt about it.

The NSE Nifty PSU Bank index pared the opening gains and slipped in red by 0.26% as of 11:01am.

The gauge had gained in early trade and after the RBI announced its decision on rate hikes.

The broader indices mirrored their larger peers, with the mid-cap and small-cap gauges losing 0.08% and 0.15%, respectively.

Fourteen of the 20 sectoral indices compiled by BSE declined with S&P BSE Realty losing over 0.5%.

The market breadth is skewed in favour of the bulls. About 1,732 stocks rose, 1,457 fell and 149 stocks remained unchanged.

Source: Exchanges, Bloomberg

The Monetary Policy Committee decides by 5:1 majority to increase repo rate by 35bps.

  • L&T Construction secured orders from ArcelorMittal Nippon Steel India to carry out their expansion plans in Gujarat and Odisha.

  • The stock was up 1.34% on Wednesday, trading at three times the 30-day average volumes.

  • Of the 42 analysts tracking the company, 41 maintained a 'buy' and one recommend 'sell'. The return potential of the stock implies an upside of of 7.4% in over the next 12 months.

  • The orders comprise installation of two blast furnaces at Hazira, Gujarat, building a 6 MTPA ore beneficiation plant at Sagasahi, Odisha among others.

  • L&T defines ‘mega’ orders as those valued above Rs 7,000 crore.

    Source: Exchange filing, Bloomberg

The broader indices outperformed their larger peers, with the mid-cap and small-cap gauges losing 0.23% and 0.25%, respectively.

Fifteen of the 20 sectoral indices compiled by BSE advanced with S&P BSE Capital Goods gaining the most over 1%.

The market breadth is skewed in favour of the bulls. About 1,721 stocks rose, 808 fell and 114 stocks remained unchanged.

  • Rupee falls to lowest in over a month ahead of RBI’s monetary policy decision.

  • The rupee fell as much as 15 paise to 82.76, the lowest levels since November 3.

  • The central bank’s monetary policy committee is set to announce its rate decision today.

  • Source: Bloomberg

  • The National Investment and Infrastructure Fund will invest in three of GMR’s airport projects, including the greenfield international airports at Mopa, Goa and Bhogapuram, Andhra Pradesh.

  • NIIF will invest Rs 631 crore in GMR Goa International Airport.

  • This investment will be NIIF’s first investment in an airport asset in India.

  • Source: Exchange filing

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