Share Market News Today | Sensex, Nifty, Share Prices HIGHLIGHTS: Domestic equity market benchmarks BSE Sensex and Nifty 50 ended over half a per cent higher on Monday. Sensex ended 296 points or 0.52 per cent up at 57,420.24, and Nifty 50 index finished trade at 17,086, up 49 per cent or 82.50 points. Tech Mahindra, Dr Reddy’s, PowerGrid Corporation of India, Kotak Mahindra Bank, ICICI Bank, Sun Pharma, Mahindra & Mahindra (M&M), HDFC Bank were among top index gainers. On the contrary, Asian Paints, IndusInd Bank, Maruti Suzuki, Reliance Industries Ltd (RIL) and Bharti Airtel were top index laggards. On the sectoral front, Nifty Pharma and Nifty Healthcare indices were top leaders. Nifty Bank gained 0.58 per cent to finish trade at 35,058.
Sensex ended 296 points or 0.52 per cent up at 57,420.24, and Nifty 50 index finished trade at 17,086, up 49 per cent or 82.50 points
It rained IPOs in 2021 so much so that the primary market broke several records and created new ones in terms of the size of initial public offering (IPOs), total fundraising, IPO subscription and even debut premium. This year, a total of 65 companies launched their IPOs which garnered over Rs 1.31 lakh crore, 74.6 percent higher from the previous record year of 2017. This IPO momentum is likely to continue next year as well since many companies are looking to go public.
The Reserve Bank of India on Monday said that depositors and stakeholders of RBL Bank Ltd need not react to the speculative reports about the bank, adding that the bank’s financial position remains satisfactory. “The Reserve Bank would like to state that the bank is well capitalised and the financial position of the bank remains satisfactory,” RBI said in the statement.
According to the EcoScope report of Motilal Oswal Financial Services, the Employee Provident Fund Organization (EPFO) suggests that on an aggregate basis, 7.7m (0.64m per month) net new subscribers were added to EPFO in FY21, only marginally lower than 7.9m (0.65m/month) net new subscribers in FY20. The headline numbers suggest that India’s formal employment in the first seven months of FY22 continues unabated.
Domestic sentiments impacted by positive cues from other Asian markets as Singapore’s manufacturing data showed a double-digit growth in November month. Our research suggests that the levels of 57400-57500 may act as resistance levels in the market for short term. If the market breaches the levels of 57400-57500, We can expect the market to trade till the range of 57600-57700. Technical indicators also support positivity in the market. Gaurav Garg, Head of Research, Capitalvia Global Research
Bank Holidays in January 2022 in India: Banks in India will remain closed for up to 16 days in January 2022, including second and fourth Saturdays, and Sundays. Apart from the seven weekly offs, banks will remain shut in different states on account of different holidays. Banks in most states will observe a holiday on 26 January 2022, on account of Republic Day. According to a list of bank holidays notified by the Reserve Bank of India (RBI) on its website, banks in Agartala, Bhopal, Bhubaneswar, Chandigarh, Guwahati, Kochi, and Srinagar will not observe a holiday on Republic Day.
Sensex and Nifty have rallied more than 21% so far in 2021, extending their bull run that started around April last year. Heading in 2022 the benchmark indices are expected to touch 20,800, according to technical analysts at ICICI Direct. Analysts have also picked five stocks that on the chart suggest an upside between 25-26% in the coming year. These stocks include stocks from the technology sector, along with banks, Oil & Gas, healthcare, and media. The time frame for each trade is 12 months.
The liquor sector is witnessing emergence of newer premium price points due to higher instances of at-home liquor consumption. Fewer avenues for customer discretionary spend resulted in higher spends towards upgradation of liquor brands (that typically exhibit higher customer stickiness and customer loyalty). Radico’s foray into canteen stores department (super premium category) will lead to a strong brand image in the super-premium whisky category. ICICI direct Research
The index bounced soon after opening with a gap down. The Nifty is volatile and traders should make calculated moves as the stops can be unforgiving. We need to break 16800 on a closing basis for the markets to turn negative in the short term. On the upside, we have a resistance cap at 17200-17300 and until we do not get past that, the bias will continue to be on the sell-side. Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments
Capillary Technologies (India) Limited, filed its draft red herring prospectus (DRHP) for its Rs 850 crore initial public offering (IPO). The initial public offering (IPO) with a face value of Rs 2 per equity share consists of a fresh issue of equity shares aggregating to Rs 200 crore, and an offer for sale of Rs 650 crore by Capillary Technologies International Pte Ltd.
Many countries have imposed lockdown restrictions to curb virus cases which raised economic growth concerns. The higher US inflation is still a supporting factor for gold and silver bulls as the data showed the US Consumer Price Index, or CPI, rose 6.8 per cent in the year to November, growing at its fastest pace since 1982.
Volatility is in the front seat. Nifty managed to close at just marginal above the 17000 marks, though we saw the sell-off from the foreign investors have cooled off compared to the week prior. There was clear underperformance of financial stocks through the month, we saw the same in the current week as well. Correction in financials has led lot of stocks very attractive for investors with a longer horizon from here. We continue to remain very bullish on Wholesale bankers – State Bank of India, ICICI Bank, and Axis Bank remains are top preference in the sector. We believe upturn in the economy, peak out of NPA cycle, credit cost will fall for these banks from here. With correction, all these large nifty stocks have fallen 12-15 per cent from there recent high. valuation wise they are very attractive and can outperform in coming quarters.
Sensex and Nifty were trading flat with negative bias on Monday morning. Sensex was still 20 points in red while Nifty 50 was just shy of 17,000.
On the domestic front, equities are likely to move in line with mixed Asian peers. However, steady outflow could be observed in the final week of the year too as foreign investors may close their Indian book by realizing the profit. However, post-year-end rebalancing, it would be interesting to watch how the equity market performs in the January anomaly (It is said that “As goes January, so goes the year”). In Asia, PBoC’s recent stance has been growth supportive and they have pledged to react proactively. Amid stronger corporate borrowing in January, healthier primary market inflows and an easing stance from China could be positive against ongoing selling patterns from the FIIs. Overall, we are expecting the USDINR pair to trade in the range of 74.50 to 75.80 over the short term with a slight downside bias.
Amit Pabari, managing director, CR Forex Advisors
Shares of HP Adhesives listed at a premium to the IPO price on the stock exchanges today, trumping the weak market momentum. The stock began trading at Rs 319 per share, up 16.42% or Rs 45 apiece from the issue price of Rs 274 per share. HP Adhesives is a multi-product, multi-category consumer adhesives and sealants company. The company manufactures a wide range of products such as PVC, cPVC and uPVC solvent cement, among other products for large PVC pipe manufacturing companies under co-branding or private label on an order basis. On listing, HP Adhesives had a market capitalization of Rs 586 crore.
RBL Bank stock price crashed 10 per cent to hit lower circuit at Rs 155.25 apiece on Monday, following the weekend developments. The bank has clarified that its financial position remains robust.
Sensex fell 480 points or 0.84 per cent to 56,644, while the broader Nifty 50 index gave up 17,000, down 136 points or 0.75 per cent
Sensex crashed 600 points, and was trading near 56,400 levels, while the broader Nifty 50 index was ruling near 16,850, down 150 points in pre-opening session.
Once market sustains above 17000 for next 2-3 sessions, we can witness a rally of around 400-500 points in Nifty up to 17500 in near term. Immediate support and resistance for Nifty 50 index are 16800 and 17300, respectively. For the Bank Nifty, immediate support and resistance are 34200 and 35550, respectively.
Mohit Nigam, Head – PMS, Hem Securities
This week will be exceptionally quiet as the economic calendar is light so there won’t be sharp market moves with spotlight being on Omicron. The Omicron is not a concern right now so we expect USDINR spot to remain range bound between 74.80-75.50.
Emkay Global Financial Services
Nifty finds support around 16,900 while 17,250 will act as resistance on the upside. Bank Nifty finds support around 34,500 while 35,400 will act as resistance.
The short term trend of Nifty 50 index continues to be positive. But, the market is currently placed at the crucial overhead resistance around 17100-17200 levels. The overall chart pattern indicate higher possibility of selling emerging from near the resistance band in the next 1-2 sessions.
Nagaraj Shetti, Technical Research Analyst, HDFC Securities
Escorts, Indiabulls Housing Finance, and Vodafone Idea are the stocks under the F&O ban for Monday (27 December). If the open interest of any stock crosses 95% of the MWPL (market-wide positions limits), all F&O contracts of that stock enter a ban period.
FII selling has reduced sharply over the last few days due to the festive holidays. After around 10% correction, Nifty is now trading at 19x FY23 P/E and is no longer in the expensive zone. While the relief rally might continue for some more time, volatility cannot be ruled out on account of potential risk from Omicron variant and fragile global cues. We suggest long term investors to take benefit of such volatility in the market and add on to their portfolios gradually at lower levels.
Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services
The final week of the calendar year is expected to remain volatile, thanks to the scheduled expiry of December month derivatives contracts. Besides, the updates on COVID cases will further add to the choppiness.
Ajit Mishra, VP — Research, Religare Broking
The VWAP of December series is placed near 17175. Thus a move above 17200 should trigger short covering in the markets. For the coming session, the trading spot band is between 17200 and 16870,which means further upsides are likely once the immediate resistances of 17200 are taken out and weakness could emerge if the supports of 16870 are broken.
Raushan Kumar, Derivative Analyst, IIFL Securities
The short-term view of Nifty 50 index remains bearish. The Nifty has to rise past 17500-17600 to turn the outlook bullish. The chances are high to test 16500-16400 in coming days.
Raushan Kumar, Derivative Analyst, IIFL Securities
The BSE Sensex made history this year by breaching the 50,000-mark for the first time ever, and went on to scale the 60,000 level within the next seven months. It closed at its lifetime high of 61,765.59 on October 18. Despite the year-end gyrations due to the Omicron threat, the 30-share benchmark has posted returns of nearly 20 per cent so far this year, eclipsing most of its global peers.
Shares of HP Adhesives will list on the stock exchanges today. The Rs 125.96 crore IPO closed earlier this month with an overall subscription of 20.96 times, led by retail investors who subscribed their portion 81.24 times. Shares of the company were offered in a fixed price band of Rs 262-274 per share.
Sensex and Nifty ended last week nearly unchanged owing to the negative trading momentum on the first and last day of trade. S&P BSE Sensex is currently placed at 57,124 points while the NSE Nifty 50 index is at 17,003. India VIX closed the previous week just above 16 levels. “The final week of the calendar year is expected to remain volatile, thanks to the scheduled expiry of December month derivatives contracts. Besides, the updates on COVID cases will further add to the choppiness,” said Ajit Mishra, VP Research, Religare Broking. He added that investors should remain cautious and wait for Nifty to close above 17,150.
Asian stock markets were seen trading mixed in the early trade. While stock markets in Australia and Hong Kong were closed for the Christmas holidays. Japan's Nikkei 225 was down 0.22 per cent while the Topix index shed 0.24 per cent. South Korea’s Kospi climbed 0.26 per cent.
Nifty futures were ruling 37.50 points or 0.22 per cent down at 16,963 on Singaporean Exchange.
The banking sector is set to witness significant reforms in the coming year with privatisation of public sector banks and strategic disinvestment of IDBI Bank on the agenda of the government for 2022.