Share Market Highlights: Sensex closes 260 pts higher, Nifty at 14,199; Axis Bank up 6%, HDFC gains 2.7%

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Updated: January 5, 2021 4:38:12 pm

Share Market News Today | Sensex, Nifty, Share Prices Highlights: Broader markets outperformed benchmark indices on Tuesday while India VIX gained 2%.

Share Market Today, Share Market LiveIndia VIX closed marginally lower on Thursday.

Share Market News Today | Sensex, Nifty, Share Prices Highlights: Sensex and Nifty began the day’s trade in red but ended with gains, once again setting fresh all-time highs. S&P BSE Sensex closed at 48,437 while the 50-stock NSE Nifty ended at 14,199. Axis Bank shares jumped 6.48% to end as the top Sensex gainer, followed by HDFC, IndusInd Bank, and TCS. Broader markets outperformed benchmark indices once again. Among Nifty sectoral indices, only Nifty Auto, Nifty Metal and Nifty Realty ended with losses.   

The Association of Mutual Funds in India (AMFI), yesterday released the classification list of large-cap, midcap, and smallcap stocks. AMFI has added, Yes Bank, Adani Enterprises, PI Industries, Jubilant FoodWorks, Gland Pharma and HAL to the large-cap category. AMFI has also downgraded NMDC, Bank of Baroda, MRF, and United Breweries to midcaps from large-cap category. Additionally, Dixon Technologies, Laurus Labs, Deepak Nitrite, and Indiamart Intermesh have been classified as midcap stocks. Mutual funds will now have to adjust their portfolios according to the latest classification.

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Highlights

    16:33 (IST)05 Jan 2021
    Sensex, Nifty ignore Wall Street weakness, reach fresh highs; are bulls running out of control now?

    After having started the day’s trade in the red, Sensex and Nifty surged once again as they hit fresh all-time highs on Tuesday. S&P BSE Sensex ended at 48,437 while Nifty closed at 14,199, translating to a 534 points intra-day jump for Sensex and 167 points for Nifty. Technically, chartists had said that Nifty would find support at 14,060 which was respected by the index as it reached those levels and sprung back up during the day. Domestic equity markets also ignored yesterday’s sell-off seen on Wall Street that pushed Down Jones and S&P 500 down 1% each.

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    15:34 (IST)05 Jan 2021
    Closing bell

    Sensex and Nifty once again jumped to reach fresh highs on Tuesday. Broader markets outperformed benchmark indices.

    15:25 (IST)05 Jan 2021
    The market continues to witness the resilience

    The market continues to witness the resilience and recovered after an opening with a gap down to stay above the immediate support level of the Nifty 50 Index level of 13950. While sustaining above 13950 is the key factor from a short-term perspective. We suggest maintaining above this level market to gain momentum and open the possibility for a movement until 14250-14270. The momentum indicators like RSI, MACD to recover, and market breadth to improve, further strengthening a short-term bullish outlook: Ashis Biswas, Head of Technical Research at CapitalVia Global Research Ltd- Investment Advisor

    15:14 (IST)05 Jan 2021
    Broader markets outperform

    Broader markets were again outperforming the benchmark indices on Tuesday. Nifty Midcap 50 index was up 0.92% while Nifty Smallcap 50 jumped 0.78%. Nifty 50 surged 0.52%. 

    15:11 (IST)05 Jan 2021
    Bulls in control on Dalal Street

    Nifty breaches 14,200 for the first time in history on Tuesday while BSE Sensex was above 48,400 hitting fresh all-time highs.

    15:05 (IST)05 Jan 2021
    Sensex, Nifty continue to scale new highs

    Sensex reached fresh all-time highs of 48,399 while Nifty 50 reach 14,186 on Tuesday.

    14:54 (IST)05 Jan 2021
    Axis Bank shares surge higher

    Private sector lender Axis Bank's share price jumped 6% on Tuesday, making it the top gaining Sensex constituent. Axis Bank was trading at Rs 663 per share just ahead of closing bell. 

    14:52 (IST)05 Jan 2021
    Top large-cap stocks to buy for 2021: Buy these 5 high conviction shares with strong fundamentals

    Indian share markets were trading between gains and losses in Tuesday’s volatile session. In the afternoon deals, BSE Sensex made a fresh record high of 48,369.17, while the broader Nifty 50 index crossed the crucial 14,150 levels. In the last month of the calendar year 2020, Nifty 50 index gained over 8 per cent. Domestic research and brokerage firm Emkay Global Financial Services has come up with five large-cap high conviction stocks. Despite volatility in the Indian share market, the brokerage firm believes, these stocks may rally going ahead.

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    14:18 (IST)05 Jan 2021
    US large-cap stocks expensive; opportunities galore in mid, small-cap shares playing catch-up

    After having surged manifold in the last year 2020, large-cap stocks in the United States are not exactly cheap. The NASDAQ index galloped a massive 45% in the calendar year 2020. Equity indices surged higher, helped by rapid policy steps from the Federal Reserve and US Congress. But the high valuation of large-cap stocks on Wall Street does not mean opportunities have run dry. Analysts at global investment bank Citigroup say that small and mid-caps are favoured in the region now.

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    14:09 (IST)05 Jan 2021
    Sensex and Nifty reach fresh highs

    Sensex set a new all-time high of 48,336 on Tuesday while the 50-stock NSE Nifty breached 14,150 for the first time in history. 

    14:04 (IST)05 Jan 2021
    Nasdaq 100: A tech-heavy large-cap growth index

    To a large extent, the US stock market was instrumental in leading the big rebound in global stock prices in 2020. After the outbreak of the Coronavirus pandemic, with the US Fed pumping in the economic stimulus, the optimism in the recovery process was overwhelming in the stock market indices worldwide.

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    13:16 (IST)05 Jan 2021
    Stock market rally over, now focus on fundamentals, FIIs might continue to be net buyers | INTERVIEW

    With the record-breaking rally on Dalal Street spreading to several months now, it could have now reached an inflexion point. Valuations of most markets around the globe are higher than their long-term averages which hint at the rally being more or less done for now, said Raghvendra Nath, Managing Director, Ladderup Wealth Management in an interview with Kshitij Bhargava of Financial Express Online. Nath added that 2021 will see the stock market move sideways but is hopeful that foreign flows will be dessert India but will continue to be net buyers. Here are the edited excerpts.

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    12:05 (IST)05 Jan 2021
    Trading with gains

    Sensex and Nifty were up in the green with marginal gains on Tuesday. The deep fall on the opening bell seems to have been bought into by investors. 

    11:45 (IST)05 Jan 2021
    TCS, Infosys, HCL Tech share prices hit fresh 52-week high, Nifty IT at new high ahead of Q3 earnings

    Information Technology (IT) firms such as TCS, HCL Technologies, Infosys, Wipro, among others hit their respective 52-week highs in an otherwise weak trading session today. Ahead of the earnings season, IT firms have risen to new highs for the second day on the trot. The Nifty IT index too made a new 52-week high of 25,381.10 levels, rallying a massive 130 per cent from March lows.

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    11:16 (IST)05 Jan 2021
    Rupee retraced past 73 due to buying pressure

    Despite breaking important 73.00 mark yesterday and moving close to 72.90, rupee retraced past 73.00 due to buying pressure. The next support for the pair lies at 72.75 and resistance is around 73.50 levels. If the pair doesn’t sustain below 73.00 mark, then one can cover import payments around 72.90-73.10 levels. For selling near term exposures, one can look for upticks around 73.40-73.50 levels: Amit Pabari, managing director, CR Forex Advisors

    10:57 (IST)05 Jan 2021
    Top multiplex stocks to buy in post-pandemic world as sector moves towards consolidation

    The coronavirus could be a blessing in disguise for India’s leading multiplex chains with the consolidation of business now expected to be faster than earlier. Domestic brokerage and research firm ICICI Securities, in a note said that multiplex chains such as PVR and INOX Leisure may see increased occupancy as large screens move towards shutting down in the wake of the pandemic. “Our working shows 100bps higher occupancy will drive EBITDA higher by 9.1% and 11.7% for PVR and INOX, respectively,” the note said.

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    10:42 (IST)05 Jan 2021
    Amazon's Jeff Bezos tops list of richest charitable gifts in 2020

    The world’s richest person made the single-largest charitable contribution in 2020, according to The Chronicle of Philanthropy’s annual list of top donations, a $10 billion gift that is intended to help fight climate change. Amazon’s founder and CEO, Jeff Bezos, whose ‘real-time’ worth Forbes magazine estimates at roughly $188 billion, used the contribution to launch his Bezos Earth Fund. The fund, which supports non-profits involved in the climate crisis, has paid out $790 million to 16 groups so far, according to the Chronicle.

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    10:24 (IST)05 Jan 2021
    Gold will be volatile in the second half today

    MCX gold having risen sharply on Monday, is expected to witness profit booking however dollar weakness and fresh lockdowns in the UK may support the yellow metal. The investment demand has not lost its shine even in the first week of 2021. SPDR Gold ETF has experienced eighth straight session of inflows. Investors will closely monitor minutes of the FOMC's last meeting for further cues. For intraday, we expect the sentiment to be positive in the bullion pack, especially, the yellow metal. US will release ISM Manufacturing PMI for December in the evening session hence we expect the dollar & the yellow metal to be volatile in the second half: Jigar Trivedi, Fundamental Research Analyst, Anand Rathi Shares and Stock Brokers

    10:19 (IST)05 Jan 2021
    HDFC share price jumps over 2%, hits fresh 52-week high as loan disbursements up 26% in Dec quarter

    Housing Development Finance Corporation (HDFC) share price jumped over 2 per cent to make a fresh 52-week high of Rs 2,634.40 apiece on BSE today. In a BSE filing, HDFC Ltd said that its disbursements in the individual loan category have grown 26 per cent on-year during the third quarter ended December 2020.

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    09:48 (IST)05 Jan 2021
    14150 is the current resistance level

    "We are top heavy at this point in time. 14150 is the current resistance level and if we can get past that 14200-14250 is a possibility. However, it is recommended that we maintain a cautious stance and trade with lighter quantities on the buy side with strict stops. The risk reward is currently skewed and we should wait for dips or corrections and then evaluate the markets. Accumulation of long positions should ideally happen on corrections," said Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments.

    09:42 (IST)05 Jan 2021
    Rupee closing above 73.20 will indicate that bullish trade will continue towards 73.50-73.60

    The Indian Rupee closed higher against the US Dollar, Due to a broad decline in the dollar index. The minutes of the December Fed meeting due this week could reinforce that dovish stance which could continue to weigh on the greenback. FPI bought $168 million in local equity to help domestic pair to be on the higher side. However rising Covid-19 cases push investors towards safe haven, Technically USDINR Spot took the support of 72.80 and is facing the resistance of 73.20 levels. Closing above 73.20 will indicate that bullish trade will continue towards 73.50 – 73.60 level. Support for the pair is 72.80 levels below it can go 72.50 levels: Kshitij Purohit, Lead Currency & Commodities at CapitalVia Global Research Ltd.- Investment Advisor

    09:34 (IST)05 Jan 2021
    Low graded stocks moving higher?

    "Frenzied buying by FIIs is supporting the market even at high levels of valuations. An unhealthy trend in recent days is the rally in low-grade stocks. Many new retail investors are recklessly buying these "cats & dogs" without any consideration for fundamentals. This is a risky game fraught with the potential for huge losses. There is safety in quality large-caps in IT, pharma, private sector banking, consumer goods and select autos. Quality stocks will bounce back even if there is a sharp correction. But low-grade stocks will turn illiquid resulting in huge losses. Retail investors should exercise caution," said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

    09:25 (IST)05 Jan 2021
    Rupee likely to open around 73.05

    The Georgia Senate runoffs are to happen today. Markets will keep a close eye on the outcome. If Democrats win both seats, they would effectively gain control of the Senate too and that would be negative for the US Dollar and positive for risk assets in general. Nationalized banks supported USD/INR around 72.90 yesterday. One of the side effects of RBI managing FX, Rates and Liquidity is the extreme dislocation we are seeing in the forwards today. While 1y T-bill is at 3.45%, 1y forward is at 4.60%. Carry to Vol is extremely attractive at this point. However, whenever the 3m Carry to Vol has risen to such an extent in the past, we have seen a bout of Rupee weakness. Rupee is expected to open around 73.05 and trade a 72.90-73.25 range. The Rupee appreciated yesterday for the seventh straight session: Abhishek Goenka, Founder and CEO, IFA Global

    09:21 (IST)05 Jan 2021
    Only 7 Sensex stocks in green

    Only seven Sensex participants were trading with gains on Tuesday morning. These included TCS, HDFC, and HCL Technologies as the top gainers. 

    09:20 (IST)05 Jan 2021
    The dizzy Bitcoin price rise: Time to get rich quick or get out?

    In March 2020, almost every market crashed when the world went into lockdown due to the coronavirus pandemic. Even cryptocurrencies weren’t spared the panic. However, the cryptocurrency market has been one of the first to bounce right back and how! If one had invested Rs 3.7 lakh ($4,945) at that time to buy just one Bitcoin (BTC), as of 4 January this year that one BTC would have been worth nearly Rs 26 lakh – an almost 7x return in nine months.

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    09:20 (IST)05 Jan 2021
    Sensex, Nifty open in red

    Sensex gave up 48,000 on the Opening Bell on Tuesday but soon recovered some losses. Nifty was nearing 14,100. Broader markets were down in the red, underperforming benchmark indices.

    09:09 (IST)05 Jan 2021
    Pre-open takes Sensex Nifty lower

    Sensex reclaimed 48,000 but was in the red while Nifty was just above 14,050 in the pre-open session on Tuesday morning. 

    09:05 (IST)05 Jan 2021
    Sensex, Nifty fall in pre-open session

    Sensex and Nifty were down in the red on Tuesday morning during the pre-open session. Sensex gave up 48,000 but soon recovered some losses to regain the levels.

    09:04 (IST)05 Jan 2021
    HCL Technologies completes acquisition of DWS

    IT major HCL Technologies has completed the acquisition of DWS Australia. Earlier last year, HCL Technologies had informed the bourses that the acquisition would cost the firm $158 million Australian Dollars.

    08:52 (IST)05 Jan 2021
    SGX Nifty down 80 points in early trade on Tuesday; 5 things to know before market opens

    Nifty futures were trading 78 points down at 14,097.50 on Singaporean Exchange, hinting at a gap-down start for BSE Sensex and Nifty 50 on Tuesday. Spike in COVID-19 cases and runoff elections in Georgia sent the global stocks lower. Senate runoff in Georgia is likely to impact the upcoming economic policies of US President Joe Biden.

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    08:32 (IST)05 Jan 2021
    Union Budget 2021: A recap of changes to Dividend Distribution Tax; share buyback moves into focus

    Indian Union Budget 2021-22: Finance Minister Nirmala Sitharaman, last year in her budget presentation 2020, announced the decision to abolish the Dividend Distribution Tax (DDT), while making dividend payment taxable at the hand of the recipient. The move was among the most talked-about decisions of the government at the beginning of 2020. Although this helped the cash-starved India Inc save some and increase cash-flow, for investors this meant more taxes. This was also trouble for promoters with high shareholdings, as a higher dividend would result in them paying more as taxes.

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    08:19 (IST)05 Jan 2021
    Stocks in focus today: HDFC, RIL, L&T, JSPL, Sun Pharma, Yes Bank, Adani Enterprises, Jubilant FoodWorks

    HDFC: Housing Development Finance Corporation said its disbursements in the individual loan category have grown by 26 per cent during the third quarter.JSPL Steel operations reported their highest ever monthly production volumes with 7.27 lakh tonnes during December 2020.

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    08:19 (IST)05 Jan 2021
    Put OI

    Most Put OI is at 13,500 strike with 20.81 lakh contracts. This is followed by 14,00 strike with 19.38 lakh contracts. 

    08:17 (IST)05 Jan 2021
    Call OI most at 14,000

    For the January series, maximum Call Open Interest (OI) is placed at 14,00 strike with 21.08 lakh contracts, with 6,225 fresh call writings. This is followed by 14,500 with 13.57 lakh contracts.

    08:07 (IST)05 Jan 2021
    SGX Nifty down 100 points

    SGX Nifty has trimmed some of its losses but still sits deep in red, down 100 points on Tuesday morning. 

    08:05 (IST)05 Jan 2021
    Jefferies sees Nifty50 at 15,800 by Dec’21, favors financial, realty sectors; check top stock picks

    The Nifty 50 index is likely to hit 15,800 levels by December 2021, implying a rally of over 12 per cent from the recent record high level, says brokerage firm Jefferies India. It expects NSE’s Nifty to deliver double-digit returns of 12.45 per cent on the back of strong economic revival in 2021/22 aided by housing market revival, and corporate earnings growth of 37 per cent in FY22 and 22 per cent in FY23. “A supportive global backdrop helps us start 2021 with a bullish view on Nifty,” the foreign brokerage firm said in a recent note. It maintains a positive stance on cyclical recovery in India, which it says is due to growing evidence that the housing cycle has bottomed out and is now set for a multi-year upswing.

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    08:02 (IST)05 Jan 2021
    Downgraded to midcaps

    AMFI has moved stocks such as NMDC, MRF, United Breweries, and MRF among others to the midcap space. Max Healthcare is the new entrant to the midcap category. 

    08:01 (IST)05 Jan 2021
    AMFI release list of stock classification

    In the latest list of stock classification release by AMFI, Yes Bank, Adani Enterprises, Gland Pharma, PI Industries, and Jubilant FoodWorks have been re-classified as large cap stocks.

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