Share Market LIVE: Sensex recovers from day’s low, down 120 points, Nifty above 17,300

Share Market News Today | Sensex, Nifty, Share Prices LIVE: Benchmark indices erased some of the early losses but still trading lower with Nifty above 17,300. The Sensex was down 100.54 points or 0.17% at 58,182.88, and the Nifty was down 35.50 points or 0.20% at 17,332.80

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Global cues were negative after Wall Street equity indices closed with losses on Monday. (Image: REUTERS)

Share Market News Today | Sensex, Nifty, Share Prices LIVE: Indian equity markets extended losses on Tuesday as indices opened on negative note on December 14 dragged by weak global markets. In afternoon trade, benchmark indices erased some of the early losses but were still trading lower with Nifty above 17,300. The Sensex was down 100.54 points or 0.17% at 58,182.88, and the Nifty was down 35.50 points or 0.20% at 17,332.80. Powergrid, Nestle, Tech Mahindra, Dr Reddy and ICICI Bank were among major gainers on the Nifty while Tata Consumers Pvt Ltd, Bajaj FInserv, Mahindra Bank and ITC were the laggards. Shares of Anand Rathi Wealth debuted on the BSE at Rs 602 per share, up 9.4 per cent against the issue price of Rs 550.

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16:34 (IST)14 Dec 2021
Immediate Nifty support placed at 17,200 levels

The market shifted into a consolidation movement on Tuesday post sharp weakness of Monday and closed the day lower by 43 points. After opening with a downside gap of 85 points, the Nifty slipped into further weakness in the early mid part of the session. A sustainable upside recovery has emerged from a day’s low of 17225 levels and the Nifty finally closed the day by erasing most of intraday losses towards the end. The opening downside gap has been filled completely, said Nagaraj Shetti, Technical Research  Analyst, HDFC Securities

A small positive candle was formed at the lows with minor upper and lower shadow. Technically, this pattern indicate a formation of high wave type candle pattern. Normally, such pattern after a reasonable weakness alerts for trend reversal. Confirmation is required for the reversal pattern. After the formation of bearish engulfing type candle pattern on Monday at the crucial resistance of 17600 levels, the market was not able to show any sharp follow-through weakness in the subsequent session. This could be positive signal for the bulls to make a comeback. Any sustainable upside bounce from here has a chances of negation of that bearish pattern, he added.

The market showing consolidation movement on Tuesday, post bearish pattern of Monday could signal chances of sustainable upside bounce back in the coming sessions. The important resistances to be watched around 17500 and next 17650 levels. Immediate support is placed at 17200 levels.

16:27 (IST)14 Dec 2021
Markets close in the red for second straight day

Benchmark indices ended the session on December 14 on a negative note with Sensex down 166.33 points or 0.29% at 58117.09, and the Nifty shedding 43.40 points or 0.25% at 17324.90. About 1695 shares have advanced, 1462 shares declined, and 109 shares are unchanged.

Power Grid Corporation, Nestle India, Axis Bank and Dr Reddy’s Labs were the top gainers while ITC, Bajaj Finance, Kotak Mahindra Bank and Bharti Airtel were the top losers.

12:48 (IST)14 Dec 2021
November WPI inflation at 14.2%

November WPI inflation stood at 14.2 percent against 12.5 percent, MoM. The Primary Articles inflation was at 10.3% versus 5.2% and Food inflation was at 6.7% versus 3.06%, MoM.

12:23 (IST)14 Dec 2021
Benchmark indices erase some of early losses

Benchmark indices erased some of the early losses but still trading lower with Nifty above 17,300. The Sensex was down 100.54 points or 0.17% at 58,182.88, and the Nifty was down 35.50 points or 0.20% at 17,332.80. 

11:30 (IST)14 Dec 2021
Lupin Ltd soars 8% 

Lupin is up by 8%, as the company has received “Voluntary Action Indicated” (VAI) status for its goa unit. United States Food and Drug Administration (USFDA) has done its inceptions in September 2021 and today it has received Establishment Inspection Report(EIR). This is positive news for the company as the Goa unit was under inspection for a long time. The USFDA has determined that the inspection classification of the Goa unit is Voluntary Action Indicated (VAI). We have a positive outlook on Lupin Limited, said Yash Gupta, Equity Research Analyst, Angel One Ltd.

11:25 (IST)14 Dec 2021
PowerGrip up 2% ahead of its board meeting on Wednesday

PowerGrid Corporation was the top gainer among the Sensex pack, up 2 per cent at Rs 209 a day ahead of its board meeting to consider dividend. Bajaj Finserv and Bajaj Finance were the major losers, down around 2.5 per cent each. Kotak Bank, ITC, M&M and HDFC were the other major losers. The broader markets were also holding losses. The BSE Midcap index dropped over a per cent, while the Smallcap index was down 0.4 per cent.

11:05 (IST)14 Dec 2021
ITC shares gain 1% ahead of analyst day meeting

Shares of ITC gained 1 per cent in early trade on Tuesday ahead of the FMCG giant’s first-ever meeting with analysts and institutional investors. The scrip rose to a high of Rs 237.10 as against the previous close of Rs 234.60 on the National Stock Exchange (NSE).

10:44 (IST)14 Dec 2021
Medplus Health Services IPO booked 74% on second day of bidding

The IPO of pharmacy retailer Medplus Health Services continues to see good subscription as it received bids for 93.24 lakh shares against the IPO size of 1.25 crore shares, 74 percent on December 14, the second day of bidding. Retail investors was booked 1.37 times, while employees quota saw 79 percent subscription. Qualified institutional buyers have bought 6 percent shares of their reserved portion and non-institutional investors 17 percent.

10:16 (IST)14 Dec 2021
Anand Rathi Wealth lists at Rs 602, a 9% premium over issue price

Anand Rathi Wealth made a good debut as the stock listed with a 9.46 percent premium on Tuesday (December 14). The stock opened at Rs 602.05 against an issue price of Rs 550 per share on the BSE, while the opening price on the National Stock Exchange was Rs 600. The first public offer of Anand Rathi saw a decent subscription of 9.78 times during December 2-6. Non-institutional investors bought shares 25.42 times the portion reserved for them and qualified institutional investors bought 2.5 times the shares available in their quota. The part set aside for retail investors was subscribed 7.76 times and that of employees saw 1.32 times subscription.

09:51 (IST)14 Dec 2021
Accumulate longs in 17,200-17,250 range

Nifty technical support placed at 17,251 and monthly derivatives support seen at 17,000. Advise to accumulate longs in the range of 17,200-17,250 with stop-loss at close below 17,000 & positional target of 17,650-18,000, says Rahul Sharma, Director, JM Financial

09:37 (IST)14 Dec 2021
Nifty may face resistance at 17,500

Chinese stocks declined on Tuesday, tracking other losses in Asia-Pacific markets as the omicron variant returned to focus. Meanwhile, bitcoin prices continued to tumble after some losses overnight. Wall Street ended lower on Monday, with shares of Carnival Corp and several airlines tumbling as investors worried about the Omicron coronavirus variant ahead of a Federal Reserve meeting later this week. Oil eases on worries Omicron could reduce demand with Retail inflation rate rises to 4.91% in November 2021. Also, FIIs net sold shares worth Rs 2,743.44 crore, while DIIs net bought shares worth Rs 1,351.03 crore in the Indian equity market yesterday. Crucial support for Nifty 50 is 17,200 while Nifty may face some resistance at 17,500, said Mohit Nigam, Head – PMS, Hem Securities

09:33 (IST)14 Dec 2021
Markets extend losses

Indian equity benchmarks markets started Tuesday’s session on a negative note as both Sensex and Nifty opened in red. The 30-scrip S&P BSE index fell as much as 439.8 points or 0.8% to hit 57,843.7 in the first few minutes after a weak opening. The broader Nifty50 benchmark dropped to 17,242.8, down 125.5 points or 0.7% from its previous close. 

07:30 (IST)14 Dec 2021
FPIs booking profits?

“Nifty formed a bearish engulfing pattern on Dec 13. Advance decline ratio was however even. The fact that Nifty could not benefit out of the positive sentiments elsewhere is worrying. Ahead of the bunch of central bank meets this week and the approaching calendar year-end, FPIs seem to be taking profits and reducing their positions. 17534 could now be the resistance while 17252 could be the support,” said Deepak Jasani, Head of Retail Research, HDFC Securities.

07:26 (IST)14 Dec 2021
Some correction expected ahead

17600 was seen as a crucial hurdle. Just around this resistance, the index witnessed selling pressure and has formed a long red body candle which certainly does not bode well for next few sessions. In options segment, 17500 and 17600 call options witnessed decent open interest addition during the day which too indicates that upside will be capped for this weekly expiry. As per the data, 17500 will be seen as an immediate hurdle while 17300 followed by 17200 will be the supports to watch out for. Considering the above data and the chart structure which indicates that the recent up move was corrective in nature rather than an impulse, we expect some time-wise or price-wise correction for the next couple of days. Hence, traders are advised to avoid aggressive bets and trade with a stock-specific approach.

~ Ruchit Jain, Trading Strategist, 5paisa

07:24 (IST)14 Dec 2021
SGX Nifty tanks

SGX Nifty was deep in red on Tuesday morning, hinting at a negative start to the day’s trade. Nifty 50 futures were down more than 100 points. 

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