Sixth Weekly Gain For Sensex, Nifty; PSU Banks Outperform

Indian equity markets ended yet another week with gains, after trading in a narrow range for the last two sessions.

The S&P BSE Sensex ended 0.3% higher at 46,099 while the NSE Nifty 50 index ended above the mark of 13,500 - at 13,513, up 0.26%. This was the sixth straight weekly gain for the Sensex and Nifty.

The last instance of both benchmarks gaining for six straiht weeks was back in July this year.

Today was the day of the PSUs. Four out of the top five gainers on the Nifty were state-run companies. ONGC (up 5.5%), NTPC (up 5.1%), GAIL (up 5%) and Coal India (up 2.6%) feature on that list.

Among sectoral indices for today's session, it was the Metals and the PSU Bank index that outperformed. Both the indices gained 1% each. In fact, the PSU Bank index was also the best performing sectoral index for the week, ending with gains of nearly 8%.

The Nifty FMCG index saw yet another record high, ending with gains of 0.9%. The Realty and Media index ended with gains of 0.8% each.

Broader markets were mixed in today's session. While the midcap index moved in-line with the benchmarks, ending 0.2% higher, the Smallcap index outperformed with gains of 0.6%.

The India Volatility Index gained 0.6% to end at 18.82.

1,107 stocks on the Nifty ended with gains while 779 stocks declined.

• Second best performer on the Nifty Smallcap index
• Gains as much as 6.2% to Rs 1,313
• Trading at the highest level in two months
• Up for the third straight day
• Trading above 50-Day Moving Average
• Stock crosses overbought territory with Relative Strength Index (RSI) at 70
• Today's volumes are 100% of its 20-day average
• 20 out of the 33 analysts tracking the stock have a buy recommendation; seven sell calls
• The stock crossed its 12-month consensus price target of Rs 1,292 in today's session

• Benchmark indices give up gains to trade with a negative bias
• Nifty down 0.2% at 13,452
• Sensex down 0.2% at 45,885
• Nifty Bank down 0.3% at 30,428
• Nifty Midcap index unchanged
• Nifty Smallcap index up 0.5%
• India Volatility Index up 0.2% to 18.74
• Nifty PSU Bank and Nifty Metal index hold gains of over 1% each
• Nifty Pharma is the top sectoral laggard; down 0.8%
• ONGC is off the day's high but remains the top Nifty gainer; up 5.3%
• Divi's Laboratories remains the top Nifty laggard; down 2.3%
• 1,148 stocks on the NSE are trading with gains while 712 stocks decline

• ITC's 220 Call: Premium up 31.1% to Rs 5.9. The contract has added 14.2 lakh shares in Open Interest.
• ONGC's 100 Call: Premium up 155% to Rs 4.45. The contract has added 21.25 lakh shares in Open Interest.
• Larsen & Toubro's 1,200 Call: Premium up 12% to Rs 40.9. The contract has shed 1.7 lakh shares in Open Interest.

• Second best performer on the Nifty Midcap index
• Gains as much as 7.3% to Rs 194.7
• Snaps three-day losing streak
• Trades at the highest level since July 2019
• Today's volumes are almost quadruple its 20-day average
• One-month implied volatility at 49%
• Stock in overbought territory with Relative Strength Index (RSI) at 73
• Out of the 23 analysts tracking the stock, 17 have a 'buy' recommendation while three each have a 'hold' and 'sell'
• The stock trades 10.2% higher than its 12-month Bloomberg consensus price target of Rs 173.9

• Markets trade in a range but hold on to gains
• Nifty up 0.5% at 13,546
• Sensex up 0.5% at 46,193
• Nifty Bank up 0.4% at 30,647
• Nifty Midcap index up 0.5%
• Nifty Smallcap index up 1%
• India Volatility Index unchanged at 18.7
• Nifty Metal is the top sectoral gainer; up 2%
• Nifty PSU Bank index up 1.9% while Media index is up 1.2%
• Nifty Pharma is the only sectoral laggard; down 0.3%
• ONGC remains the top Nifty gainer; up 7.5%
• 35 out of the 50 Nifty constituents advance
• Divi's Laboratories remains the top Nifty laggard; down 1.3%
• 1,265 stocks on the NSE trade with gains while 549 decline

SIAM Data | Total passenger vehicles sales up by 12.73% in November compared to last year.

Read other market updates: https://t.co/t0vS0M1ugX pic.twitter.com/whIzfXkCOw

— BloombergQuint (@BloombergQuint) December 11, 2020

• Benchmark indices trade with gains; poised for sixth straight weekly advance
• Nifty up 0.5% at 13,550
• Sensex up 0.5% at 46,207
• Nifty Bank up 0.7% at 30,718
• Nifty Midcap index up 0.5%
• Nifty Smallcap index up 1%
• India Volatility Index up 0.33% to 18.77
• Nifty PSU Bank index is the top sectoral gainer; up 1.7%
• Nifty Media and Nifty Metal index gain 1% each
• Nifty Realty is the top sectoral laggard; down 0.7%
• ONGC is the top Nifty gainer; up 7.7%
• Divi's Laboratories is the top Nifty laggard; down 1.1%
• 1,370 stocks on the NSE trade with gains while 379 decline

Godrej Agrovet Chairman Nadir Godrej tells Bloomberg about replacing China as a single source for chemicals. pic.twitter.com/OQ870BwAVW

— BloombergQuint (@BloombergQuint) December 11, 2020

Indian equity markets have opened the final trading day of the week with modest gains as sentiment across the Asia Pacific remains mixed.

The S&P BSE Sensex opened 0.2% higher at 46,060 while the NSE Nifty 50 index opened above the mark of 13,500, gaining 0.25% to 13,512.

As of closing on Thursday, both Sensex and Nifty are trading with gains for the week and are poised for their sixth straight weekly advance.

Among the sectoral indices, the Nifty FMCG index is extending Thursday's gains, opening 0.6% higher while the Media index is up 0.7%. The Nifty Auto and Nifty Realty index are up 0.33% each while the Nifty Metal index is up 0.5%.

Broader markets are trading higher in the early minutes of the session. The Nifty Midcap index is up 0.4% while the Smallcap index is up 0.6%.

1,234 stocks on the NSE are trading with gains while 336 are declining.

Good Morning!

Indian equities paused their rally on Thursday but are poised to post the sixth straight weekly gain.

While most sectoral indices snapped the run-up, the FMCG index scaled a record high during the weekly options expiry session.

So far this week, the Sensex and the Nifty 50 have gained more than 1.5%. A weekly advance today will be the longest such winning streak since July this year.

Futures are indicating a start with a positive bias to today's trading session. The Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, rose 0.24% to 13,557 as of 7:50 a.m. on Friday.

Oil sensitives will be in focus with Brent Crude crossing the $50-per-barrel mark for the first time since March this year.

Markets across Asia are mixed this morning with shares in Hong Kong and South Korea rising, while those in Japan and Australia trading lower.

Futures on the Dow Jones are currently trading higher by 50 points. The index fell 0.2% on Thursday.

West Texas Intermediate crude rose 0.6% to $47.05 per barrel, while gold traded at $1,836.5/Oz.

Short on time? Well, then listen to this podcast for a quick summary of All You Need To Know before the opening bell.