Share Market Highlights: Sensex closes 886 pts higher at 57,633, Nifty adds 264 pts to end at 17,176

Share Market News Today | Sensex, Nifty, Share Prices Highlights: Bulls returned to Dalal Street on Tuesday amid positive global cues.

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India VIX closed deep in red. (Image: REUTERS)

Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic markets resumed up-trend after two sessions under the grip of bears. S&P BSE Sensex zoomed 886 points or 1.5% to end at 57,633 while NSE Nifty 50 added 264 points to settle at 17,176. Bank Nifty skyrocketed 2.47% to reclaim 36,600 levels. Broader markets mirrored the up-move. India VIX closed 8.07% down to finish at 18.46. Tata Steel was the top gainer on Sensex, up 3.63%, followed by Axis Bank, ICICI Bank, Kotak Bank, and SBI. Asian Paints slipped 0.22% to end as the only Sensex stock in red.

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16:27 (IST)07 Dec 2021
Sensex rallies 886 points as bulls return to Dalal Street, Nifty may breach 17,300 soon

Bulls returned to Dalal Street on Tuesday amid positive global cues, forcing benchmark indices higher. S&P BSE Sensex soared 886 points or 1.5% to end at 57,633 while NSE Nifty 50 zoomed 264 points to settle at 17,176. Tata Steel was the top gainer on Sensex, up 3.63%, followed by Axis Bank, ICICI Bank, Kotak Bank, and SBI. Asian Paints slipped 0.22% to end as the only Sensex stock in red. The Bank Nifty skyrocketed 2.47% to finish above 36,600 levels. Broader markets mirrored the up-move. India VIX tumbled 8.07% to finish at 18.46. 

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15:35 (IST)07 Dec 2021
CLOSING BELL

Bulls returned to Dalal Street on Tuesday amid positive global cues. Nifty Bank closed 2.47% on Tuesday, broader markets mirrored the up-move. India VIX ended 8.07% lower.

15:22 (IST)07 Dec 2021
Top Sensex gainers

Tata Steel was the top Sensex gainer on Tuesday, up 3.5%, ahead of the closing bell. It was accompanied by Axis Bank, ICICI Bank, Kotak Mahindra Bank, SBI, and Titan.

15:20 (IST)07 Dec 2021
Microfinance loan portfolio growth rate stay muted in Q2; disbursements jump 142% QoQ

Credit and Finance for MSMEs: The gross loan portfolio (GLP) of the microfinance sector grew 5.75 per cent year-on-year (YoY) as of September 2021 while Q2 (July-September) growth stood at 2.1 per cent from Q1 in the current financial year 2021-22. The portfolio outstanding grew from Rs 235.4 crore as of September last year and Rs 243.8 crore as of June 2021 to Rs 249 crore as of September 2021. The data was based on the Q2 report on India’s microfinance sector by Crif MicroLend. However, the YoY growth rate of nearly 6 per cent was muted since September last year with 5.8 per cent growth.

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15:13 (IST)07 Dec 2021
India VIX down in red

India VIX, the volatility gauge, was down more than 8% on Tuesday while headline indices soared higher to mark the return of bulls. 

15:03 (IST)07 Dec 2021
Nifty immediate target 17650

“24 hours back, not many would have imagined that this would be the case given yesterday’s weak closing. Best to stick to levels in such situations. Current View: Stay Long, Stay Bullish for immediate target of 17,650. Maintain 16,950 as closing SL,” said Rahul Sharma, Director & Head – Research, JM Financial Services Ltd.

14:54 (IST)07 Dec 2021
Cathie Wood’s ARK sells shares of Tesla, Facebook, Amazon, JD.com while adding more Twitter shares

Dow Jones, S&P 500, and the NASDAQ index soared higher on Monday, reversing some of the losses suffered earlier last week. As the indices soared higher, Cathie Wood’s ARK Investment Management was seen selling big names such as Facebook, Amazon, and Elon Musk’s Tesla Inc. ARK Investment has also sold shares of JD.com as the Chinese tech rout continues. All the big names sold by Cathie Wood’s ARK Investment have fallen in the range of 3-13% in the last five days. On the other hand, more shares of Twitter were bought by ARK Investment, adding to those bought after Parag Agrawal stepped in as CEO.

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14:24 (IST)07 Dec 2021
RBI Monetary Policy Dec 2021: MPC may not raise repo rate yet as Omicron threatens economic recover

The Reserve Bank of India’s Monetary Policy Committee (MPC) will present its fourth bi-monthly monetary policy on December 8. The central bank is expected to keep repo and reverse report rate unchanged keeping implications of the Omicron variant in view. Last year, two rate cuts of 75 bps in March and 40 bps in May reduced repo rates to a record low of 4 per cent and since then, rates have been kept unchanged. This policy comes in the backdrop of the perceived strengthening of the domestic economy and the moderation in headline inflation in recent months, said analysts.

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14:08 (IST)07 Dec 2021
Bak Nifty up 2.7%

Bank Nifty was up 2.72%, regaining 36,700 range. The index has breached the resistance zone near 36,500-36,600.

14:06 (IST)07 Dec 2021
Sensex, Nifty skyrocket

Sensex and Nifty were up nearly 2% each on Tuesday afternoon as Bulls attempted to recoup all losses suffered during the last few sessions. 

13:30 (IST)07 Dec 2021
17000-17100 hurdles for Nifty?

“It would be interesting to see how market behaves going forward. Whether bears have further legs to break this support or the bulls have enough strength to defend it. If we compromise this level of 16800 in the coming session, one should get prepared for an extended fall towards 16600 – 16400 in coming sessions. On the flipside, 17000 followed by 17100 are to be seen as immediate supports. The banking index plays a vital role here because its back to its ‘200-SMA’ and hence, one needs to keep a close on it in the forthcoming session,” said Sameet Chavan, Chief Analyst-Technical and Derivatives, Angel One.

12:50 (IST)07 Dec 2021
Gold update

Gold prices in MCX is trading on cues from international rates. The new variant Omicron has put a break on the domestic wedding demand till further clarity on the severity of the variant and its outbreak. The traders are weighing more on the early tapering by Fed after data suggested the labour market was rapidly tightening, pushing gold to choppy zone.

Buy Zone Above – 48000 for the target of 48500
Sell Zone Below – 47700 for the target of 47400

~ Ravi Singh, Vice President & Head of Research, ShareIndia 

12:28 (IST)07 Dec 2021
Apollo Hospitals, Info Edge may replace Indian Oil in Nifty; Zomato could enter Nifty Next 50 soon

Indian Oil could be on its way out of the benchmark NSE Nifty 50 index in the upcoming Semi-Annual Index Rejig, said analysts at Edelweiss Alternative Research. The PSU major could be replaced in the headline index by Apollo Hospitals or Naukri.com’s parent firm Info Edge. Looking at the broader markets, analysts noted that recently listed Zomato could make its way into the Nifty Next 50 along with IT industry major Mindtree. The semi-annual index rejig will be based on stock movement till January 31, 2022, while the rebalancing will be done by the end of March next year. 

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11:57 (IST)07 Dec 2021
Rakesh Jhunjhunwala’s multibagger stock: This Rs 69 share has gained 150% this year; should you buy?

Ace investor Rakesh Jhunjhunwala’s portfolio has a multibagger share priced below Rs 70, which has more than doubled this year. Anant Raj Ltd share price has gained around 150 per cent so far this year 2021. The realty stock has surged from Rs 27 at the beginning of the year to Rs 69.7 per share now. Further, analysts expect Anant Raj share price to hit triple-digit figures in the medium to long term. Anant Raj stock has attracted FPIs and FIIs of late, and the company has posted good quarterly financial figures in the last three quarters despite the Covid-19 pandemic stress.

10:50 (IST)07 Dec 2021
Sensex extends lead

Sensex was up 800 points on Tuesday morning, sitting above 57,500 while NSE nifty 50 was nearing 17,150. 

10:34 (IST)07 Dec 2021
Buy any dip from here

“Going ahead, we expect prolongation of consolidation in the range of 17500—16800 amid stock specific action that would help index to form a higher base around 100 days EMA. Thus, an extended breather from hereon should not be construed as negative instead dips should be capitalised to accumulate quality stocks as we expect buying demand to emerge at lower band of consolidation placed around 16800-16700 zone.”

~ ICICI Direct

10:26 (IST)07 Dec 2021
RateGain Travel IPO opens for subscription; check issue price, GMP, other details here

RateGain Travel Technologies Rs 1,336 crore IPO opened for subscription today as the IPO rush-hour continues on Dalal Street. The technology distribution company that caters to the travel and hospitality industry globally is offering shares in a fixed price band of Rs 405-425 per share through the IPO. Through the IPO, RateGain Travel will sell around 31,441,282 equity shares of face value Re 1. In the grey market markets, shares of RateGain were trading at a premium of Rs 100 per share, down from Rs 120 earlier this week. The issue will open today for subscription and close on December 9. 

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09:47 (IST)07 Dec 2021
Strength in midcaps and smallcaps

The Nifty midcap and small cap indices are sustaining well above its 100 days EMA which has been held since June 2020, highlighting inherent strength. We believe, ongoing consolidation will make market healthy and form a higher base. Therefore, focus should be on accumulating quality stocks to ride structural uptrend.

~ ICICI Securities

09:26 (IST)07 Dec 2021
Bank Nifty soars higher

Bank Nifty index was up 1.2% on Tuesday morning, trading above 36,100 levels. Bandhan Bank, Au SmallFinance Bank, and Kotak Mahindra Bank were the top gainers. 

09:19 (IST)07 Dec 2021
OPENING BELL

Domestic markets started Tuesday’s session in the green, following positive global cues. Bank Nifty jumped more than 1% on opening while India VIX was down in red.

09:14 (IST)07 Dec 2021
Nifty resistance at 17300

“Nifty finds support around 16782 while 17300 will act as resistance on the upside. Bank Nifty finds support around 35600 while 36600 will act as resistance.”

~ IIFL Securities

09:01 (IST)07 Dec 2021
Pre-open session

Sensex regained 57,000 mark as the pre-open session began on Tuesday while the Nifty 50 index soared past 17,000.

08:56 (IST)07 Dec 2021
Bank Nifty support at 36500, 35350

“Going forward, investors have to be little watchful as more Omicron cases had been detected in India and the recent news flow around the variant will contribute to equity market volatility in the coming weeks. Inflation is the second risk the markets will have to deal with. Any disruption in supply chains because of Omicron may further exacerbate inflationary pressures. Tata Motors can be in focus today as the company increased the price of it’s commercial vehicle effective from beginning of next year. On the technical front, the key resistance levels for Nifty50 are 17100 followed by 17450 and on the downside 16800 followed by 17620 can act as strong support. Key resistance and support levels for Bank Nifty are 36500 and 35350 respectively,” said Mohit Nigam, Head – PMS, Hem Securities.

08:53 (IST)07 Dec 2021
17217 to act as immediate hurdle for Nifty

“Yesterday’s high (17217) could turn out as an immediate hurdle zone and sustenance below for the same is likely to keep the near term outlook negative. Most of the Nifty stocks are going through the corrective phase as their 14-day RSI reading is seen below levels of 70.”

~ Yes Securities

08:51 (IST)07 Dec 2021
Nifty set to open in green

“Nifty is expected to open positive at 17000 levels. Nifty has resistance at 17085 and 17200 levels.  Since the last few sessions Nifty has been making lower highs and lower lows indicating a weak trend.  Traders are advised to keep strict stoploss in current volatile markets,” said Gaurav Udani, Founder and CEO of ThincRedBlu Securities.

08:46 (IST)07 Dec 2021
Nifty needs to reclaim 17000 for recovery

“Nifty needs to reclaim 17000 as soon as possible for any chance of recovery or else we may see the panic low of last Monday, 16782, being re-tested. Bank Nifty is structurally less weak with supports at 35,530 and 35,327,” said Rahul Sharma, Director & Head – reserch, JM Financial.

08:44 (IST)07 Dec 2021
Nervousness reoccurred to send Nifty below 17000

“Now as we had alluded to in the recent commentary, last week’s low around 16800 is to be challenged soon and we are not far away from this now. It would be interesting to see how market behaves going forward. Whether bears have further legs to break this support or the bulls have enough strength to defend it. If we compromise this level of 16800 in the coming session, one should get prepared for an extended fall towards 16600 – 16400 in coming sessions. On the flipside, 17000 followed by 17100 are to be seen as immediate supports. The banking index plays a vital role here because its back to its ‘200-SMA’ and hence, one needs to keep a close on it in the forthcoming session,” said Sameet Chavan, Chief Analyst-Technical and Derivatives, Angel One.

08:36 (IST)07 Dec 2021
Index heading to 16750-16780

“The markets continued its downward trajectory and has threatened the 16900 level. The index is heading towards the recent low of 16750-16780. If we break that, the Nifty can fall to 16400-16450,” said Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments.

08:29 (IST)07 Dec 2021
Vedanta, Tata Motors, InterGlobe Aviation, Power Grid among stocks in focus today

On the charts, two consecutive deep-dives by Nifty are being seen as a negative for bulls. The index formed a long bear candle on the daily chart, which indicate a sharp downward reversal in the market after a decent upside bounce of last week, according to Nagaraj Shetti, Technical Research Analyst, HDFC Securities. “The sharp downward reversal of the last two sessions after a decent pullback rally could open further decline down to 16700 or lower in the next few sessions,” he added. On the fundamental side, investors should get some relief as the Omicron variant does not seem to have increased hospitalizations across the countries it has entered so far. Analysts still recommend stock-specific action while markets trade on choppy waters. 

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07:58 (IST)07 Dec 2021
Downtrend nearing its end

“Nifty continues its downtrend and the next level of support is 16722-16782 band. On upmoves 17026-17051 could act as a resistance. The downtrend may be close to its end going by the number of days it has lasted so far (33). However, the upward recovery may be slow,” said Deepak Jasani, Head of Retail Research, HDFC Securities.

07:54 (IST)07 Dec 2021
SGX Nifty in green

SGX Nifty was up in the green on Tuesday morning. Nifty futures soared 80 points, hitting a positive start to the day’s trade. 

07:53 (IST)07 Dec 2021
Investors’ wealth tumbles over Rs 5.80 lakh cr in two days of market slump

Investors’ wealth tumbled Rs 5,80,016.37 crore in two trading sessions to Monday as stock markets continued to face heavy sell off on concerns over the Omicron variant of COVID-19. The 30-share BSE Sensex plummeted 949.32 points or 1.65 per cent to close at 56,747.14 on Monday. In the previous session, the benchmark had ended 764.83 points or 1.31 per cent lower at 57,696.46.

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