Share Market highlights: Sensex ends 380 pts higher, Nifty closes at 13,873; SBI, Titan top gainers

Share Market News Today | Sensex, Nifty, Share Prices highlights: Domestic markets ended with gains on Monday. Broader markets outperformed the benchmark indices.

Share Market highlights: Sensex ends 380 pts higher, Nifty closes at 13,873; SBI, Titan top gainers
All sectoral indices except Nifty Bank and Nifty private bank closed with gains.

Share Market News Today | Sensex, Nifty, Share Prices highlights: Domestic benchmark closed with gains on Monday, after having soared to fresh all-time highs earlier in the day. S&P BSE Sensex closed with 47,353 points while Nifty 50 closed at 13,873. All sectoral indices gained during the day except Nifty pharma index which was down 0.27% at the end of the day’s trading session. Domestic benchmark indices closed at their highest ever closing levels today. 

United States President Donald Trump today signed a $900 billion pandemic relief bill. This will help in initiating relief packages to individuals and business in the United States that have been hit by the pandemic, while also pushing away the possibility of a partial government shutdown. Along with this, the United States Congress has also passed a $1.4 trillion plan for government spending. Combined $2.3 trillion relief package, includes $600 payment to struggling individuals.

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16:16 (IST)28 Dec 2020
Sensex, Nifty at their highest-ever closing levels; will bulls continue to dominate this week?

Domestic benchmark indices surged to fresh all-time highs on Monday and closed at their highest ever closing levels. S&P BSE Sensex was now at 47,353 while the 50-stock Nifty was at 13,873. Broader markets outperformed benchmark indices on Monday. India VIX or the volatility gauge zoomed 2.3% during the day to close at 20.43 levels. Among sectors, all except Nifty Pharma gained. The pharma index slipped 0.27%. Nifty PSU Bank index was the best performing sector index, gaining 2.69% during the day.

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15:35 (IST)28 Dec 2020
Closing Bell

Sensex and Nifty surged to record all-time highs on Monday and ended the day with gains. Sensex zoomed over 380 points while Nifty 50 was shy of 13,900 levels. 

15:19 (IST)28 Dec 2020
Tesla to start selling cars in India early next year, Nitin Gadkari confirms Elon Musk’s arrival

Elon Musk’s electric vehicle manufacturer Tesla will start selling cars in India in early 2021, said Nitin Gadkari, Union Minister for Real Transport and Highways. Gadkari, who also manages the Ministry for Micro, Small, and Medium Enterprises told The Indian Express Idea Exchange programme that Tesla would start operation in India with sales in the coming year.

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14:53 (IST)28 Dec 2020
Sensex, Nifty add to gains ahead of closing

Sensex zoomed over 400 points less than an hour ahead of the closing bell. Nifty 50 was seen surging past the 13,850 levels. 

14:42 (IST)28 Dec 2020
Stocks to buy in 2021: Low volatility, high delivery suggests as much as 26% upside for these stocks

With the end of the decade now just days away, it’s imperative that investors start planning their trades for the coming year if not the decade already. While fundamentally, many might suggest going for the manufacturing sector stocks to gain from the PLI scheme while some might suggest owning banks for the uptick in the economic activity. However, brokerage and research firm ICICI Direct has taken a different approach. ICICI Direct has given its quant picks for 2021 based on Future & Options and Quantitative indicators.

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14:34 (IST)28 Dec 2020
Dixon Technologies to manufacture Motorola smartphones

“Dixon Technologies is the largest home grown design-focused and solutions company engaged in manufacturing products in the consumer durables, lighting and mobile phones/smart phones markets in India. Dixon’s wholly owned subsidiary- Padget Electronics has signed an agreement with Motorola for manufacturing of smart phones. Currently, the Mobile segment contributes more than 10% of total revenue. This development is positive for the company, which would boost the revenue growth in the mobile segment going ahead,” said Amarjeet Maurya – AVP – Mid Caps, Angel Broking.

13:38 (IST)28 Dec 2020
Week ahead for Crude & Natural Gas

Crude prices traded negative around 2% during the week. Global slowdown a factor that can dampen demand. Oil prices inched higher on Thursday, helped by late-day buying in a low-volume session to close out the week. The market built gains overnight as Britain and the European Union reached a post-Brexit trade deal, reversed those gains, and then rebounded during the U.S. session to end modestly higher. U.S West Texas Intermediate (WTI) crude CLc1 settled up 11 cents to $48.23 a barrel, while Brent crude futures settled 9 cents higher at $51.29. Going ahead in the week the oil can see consolidation in it as strong demand is in line with supply constraints.

~ Priyanka Shrimankar, Commodity Research Analyst, Bonanza Portfolio 

13:20 (IST)28 Dec 2020
Sensex, Nifty set fresh highs

S&P BSE Sensex surged to a fresh all-time high of 47,360 on Monday morning. The broader Nifty 50 index zoomed to reach a high of 13,869.

13:08 (IST)28 Dec 2020
Top Sensex gainers

Titan Company, Larsen & Toubro, and State Bank of India are the top Sensex gainers at 1:05 PM on Monday. 27 of the 30 Sensex constituents were trading with gains. 

12:16 (IST)28 Dec 2020
Gland Pharma, Yes Bank shares may become large-caps; AMFI may reclassify these stocks in January

Recent Dalal Street debutant Gland Pharma could be among the stocks to be reclassified as large-cap stocks in the semi-annual review by Association of Mutual Funds in India (AMFI). Brokerage and research firm Edelweiss has forecasted Gland Pharma along with Yes Bank, Jubilant FoodWorks among others to be among the stocks that will be reclassified as large-caps in the semi-annual AMFI review later next month. The review will take into account the performance of the stocks available till the end of 2020 and with just a handful of sessions left this year, Edelweiss has given its final list of the stocks.

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12:00 (IST)28 Dec 2020
Buy gold at Rs 50,300

Last week, Spot Gold prices dipped by 0.7 percent as a stronger Dollar and the recent development over the Brexit deal pressurized Gold prices. However, the downfall was limited as worsening of the global economic scenario and rising bets on additional stimulus infusion by U.S limited the losses for Gold. Despite President Donald Trump’s threat of not signing the long-awaited virus-relief spending package, markets continued to expect for a stimulus deal which underpinned the yellow metal prices.

As for today traders can go for BUY in gold at Rs 50300 levels with the stop loss of Rs 50000 levels for the target of 51000 levels. We expect gold may test $1920 levels and silver may test $28 levels soon.

~ Anuj Gupta- DVP- Commodities and Currencies Research, Angel Broking.

10:41 (IST)28 Dec 2020
FAANG stocks fail to shine last week despite NASDAQ’s jump; 3 of the 5 big tech shares tumble

The holiday-shortened previous week saw the NASDAQ index gain 1% overall, after having suffered a steep fall during the initial hours of trade on Monday morning. The star constituents of the index — the FAANG stocks — witnessed a mixed bag of a week, with some gaining and others losing. So far this year, FAANG stocks have gained 50% on average, outperforming the benchmark NASDAQ index. Apple has been the best stock so far this year among the big-tech names that make up the FAANG stock list.

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10:29 (IST)28 Dec 2020
Mrs Bector shares gain but soon witness profit booking

Mrs Bectors, the newest stock on Dalal Street gained to trade at Rs 629 per share on Monday morning but soon gave up all gains and began trading with losses as investors rushed to book profits. 

10:27 (IST)28 Dec 2020
Trump signs massive coronavirus relief and spending package into law

US President Donald Trump has signed into law a massive USD 2.3 trillion spending bill that includes a USD 900 billion coronavirus relief package, averting a government shutdown and extending coronavirus aid to millions suffering from the economic impact of the pandemic.

Trump initially refused to approve the legislation for days after receiving it. He had called the bill a disgrace.

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09:27 (IST)28 Dec 2020
14000 in sight?

“We have opened on a boisterous note and should be headed to 13950-14000 levels soon. This could be as early as this week. The weekly support is at 13550-13600 and any dip towards those levels becomes a good buying opportunity for higher targets,” Manish Hathiramani, Proprietary Index Trader and Technical Analyst, Deen Dayal Investments.

09:25 (IST)28 Dec 2020
Volatility inches higher

As stock markets zoomed on Monday morning, India VIX — the volatility gauge, was seen inching over 4% higher. 

09:21 (IST)28 Dec 2020
Nifty is in the bull grip

Nifty is in the bull grip. Till the time it is above 13660 the Bull will be in the business. On the higher side, one can see 13800-13865 will work as potential intraday resistance levels.

Strategy for the day:

Buy on dip will be the strategy for the day. Nifty will witness strong support at 13733-13700.

Stop loss and reversal levels:

One should maintain a stop loss of 13650 levels. Any hourly closing below 13650 will trigger a reversal in the market.

~ Vishal Wagh, Head of Research, Bonanza Portfolio

09:19 (IST)28 Dec 2020
All Sensex stocks in green

ONGC, NTPC, and IndusInd Bank were the top Sensex gainers on Monday morning while all Sensex constituents were trading with gains. 

09:18 (IST)28 Dec 2020
Opening Bell: Sensex, Nifty on fresh highs

Sensex and Nifty began trading at fresh all-time highs and continued to inch higher during the initial few minutes of trade. Sensex was above 47,300 while Nifty breached 13,850.

09:10 (IST)28 Dec 2020
Pre-open take stock markets higher

Sensex and Nifty zoomed to fresh highs during the pre-open session on Monday morning, paving the way for them to open at fresh all-time highs.

09:06 (IST)28 Dec 2020
Sensex, Nifty trim some gains

Sensex trimmed some pre-open gains but was still trading in the green during the session. Nifty was still above 13,800.

09:03 (IST)28 Dec 2020
Sensex Nifty gain in pre-open

Sensex zoomed pas 47,100 during Monday’s pre-open session while Nifty 50 crossed the 13,800 mark. 

08:51 (IST)28 Dec 2020
Put Open Interest

Maximum Put OI for December series is at 13,000 strike with 45.24 lakh contracts, followed by 13,500 strike with 36.56 lakh contracts. 

08:49 (IST)28 Dec 2020
Call Open Interest

For December series, maximum call Open Interest (OI) is placed at 14,000 strike with 39.77 lakh contracts. This was followed by 14,500 strike with 26.89 lakh contracts.

08:35 (IST)28 Dec 2020
Stocks in focus: Reliance Industries, Vedanta, DHFL, Mrs Bectors, DLF, and more

On Monday morning SGX Nifty was hinting at a gap-up start for domestic stock markets. Domestic equity markets enter the last week of this decade on a positive note after having regained almost all losses that they suffered on Monday. Technically, Nifty is still in the negative territory but that could be reversed with a close above the recent highs of 13778. “The short term trend continues to remain down. However, with the intermediate uptrend still intact, we expect the recent correction to be more of a short term nature and may have possibly bottomed out with the strong price action seen in the last three sessions,” said Subash Gangadharan, Technical and Derivative Analyst, HDFC Securities.

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08:29 (IST)28 Dec 2020
No takers for 18-GW solar power projects

A clutch of under-construction solar projects with combined capacity of 18,000 MW is facing grim prospects with the state-run discoms developing cold feet on buying power from these projects, at tariffs discovered under auctions. The discoms’ reluctance to sign power supply agreements with these projects, with aggregate investments of Rs 90,000-Rs 1 lakh crore, is in view of the widening differential between the price of power from these projects and the much lower prices discovered under recent auctions.

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08:08 (IST)28 Dec 2020
Farmer groups cut power supply of 1,300 Jio towers

Agitating farmers and supporting groups in Punjab have targeted the telecom towers of Reliance Jio in the state, thus disrupting mobile and internet services of the company and causing inconvenience to the consumers. According to industry sources, agitating groups have cut off power supply of around 1,300 mobile towers of Jio in the state. There are around 9,000 towers of Jio in Punjab. For some towers, the fibre has been cut by such groups.

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08:05 (IST)28 Dec 2020
What to expect this week on Dalal Street

“For the week ahead, concerns regarding the fresh case of the virus will remain in the limelight along with development on Brexit deal. Investors should stay focused on quality sectors & counters and also watch at the trend of FII inflows, which is the main factor of the recent rally, no eventful data and announcements are expected next week,” said Vinod Nair, Head of Research at Geojit Financial Services.

08:04 (IST)28 Dec 2020
Virus, vaccines and volatility: Stock market takes a wild ride in 2020

From the depths of despair to an adrenaline-pumping ascent, equity investors traversed the whole gamut of emotions in 2020 as a once-in-a-lifetime pandemic followed by equally unprecedented stimulus measures whiplashed global stock markets, upended conventional wisdom and blurred the lines between investing and speculation.

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08:01 (IST)28 Dec 2020
Donald Trump sings pandemic relief bill

Donald Trump, President of the United States has signed the coronavirus aid package today. Till will help individuals and businesses that have been struggling amidst the pandemic. The bill consists of $600 relief cheques for individuals. 

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