Share Market News Today | Sensex, Nifty, Share Prices Highlights: Indian benchmark indices ended lower on December 9 with Nifty around 18,500. BSE Sensex fell 389.01 points or 0.62% to 62,181.67, and the NSE Nifty 50 settled 112.70 points or 0.61% lower at 18,496.60. Sectoally, information technology index shed 3 percent, PSU bank, metal index and realty indices down 1 percent each. However, FMCG index gained nearly 1%. HCL Technologies, Tech Mahindra, Infosys, Wipro and Hindalco Industries were among the top Nifty losers, while Nestle India, Sun Pharma, Dr Reddy’s Laboratories, Titan Company and Eicher Motors were the gainers. BSE midcap index fell 0.4% and smallcap index slipped 1%.
Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market News Updates 9 December, Friday
HCL Technologies, Tech Mahindra, Infosys, Wipro and Hindalco Industries were among the top Nifty losers, while Nestle India, Sun Pharma, Dr Reddy's Laboratories, Titan Company and Eicher Motors were the gainers. BSE midcap index fell 0.4% and smallcap index slipped 1%.
Indian benchmark indices ended lower on December 9 with Nifty around 18,500. BSE Sensex fell 389.01 points or 0.62% to 62,181.67, and the NSE Nifty 50 settled 112.70 points or 0.61% lower at 18,496.60. Sectorally, information technology (IT) index shed 3%, PSU bank, metal index and realty indices down 1% each. However, FMCG index gained nearly 1%.
Ujjivan Small Finance Bank has received approval from the Reserve Bank of India to re-appoint Ittira Davis as its Managing Director & CEO for two years, starting January 14, 2023. Ujjivan SFB sought approval from the regulator for his re-appointment until January 2025. Davis has been associated with Ujjivan since March 2015.
Axis Bank on December 9 raised Rs 12,000 crore through Basel-III Tier-2 bonds maturing in 10 years at a coupon rate of 7.88 percent. The bank will utilise 100 percent of the proceeds of the issue for its regular business activities and to meet the demand for financing. The bonds will be listed on wholesale debt market (WDM) segment of the National Stock Exchange of India Limited (NSE) and the BSE Limited (BSE), which will be the designated stock exchange. Axis Bank touched 52-week high of Rs 945.45 and was quoting at Rs 933.25, down Rs 6.20, or 0.66% on the BSE.
Bajaj Consumer Care board on Friday approved a proposal to buy back shares worth Rs 81 crore via the open market route. “The board has approved the buyback of fully paid up equity shares having a face value of Re 1 each of the company at a price not exceeding Rs 240 per equity share for an aggregate amount not exceeding Rs 80.89 crore,” the company said in an exchange filing, adding that the maximum shares to be bought back under the buyback plan is 33 lakh. Bajaj Consumer shares surged more than 3 per cent to Rs 184 apiece on the BSE in afternoon deals after share buyback news.
“Wedding season is always an upbeat one for the auto sector. Definitely November and December are good seasons for weddings, thus in turn for the auto sales. Therefore we saw great retail numbers then. December is generally weak as customers wait to buy a vehicle with a new year registration date from a reselling point of view. So we expect a slight cool off in the coming month on a sequential basis. However on a yoy basis, on a low base we expect growth to continue. Retail sales are generally followed by wholesale sales which can be seen in coming months.”-Ashwin Patil, Senior Research analyst at LKP Securities
“India being the best performing large market year to date in dollar terms, FIIs have been booking profits but Domestic Flows through SIPs are at lifetime highs which reflects the growing maturity and confidence of the Domestic Investors for more than a year now.”-S Ranganathan, Head of Research at LKP Securities
Asian markets advanced with Japan’s Nikkei 225 rising 354.59 points or 1.29% to 27,929.02, Taiwan’s FTSE TWSE Taiwan 50 Index advanced 161 points or 1.45% to 11,266.02, China’s Shanghai Composite Index climbed 8.82 points or 0.28% to 3,206.17, South Korea’s KOSPI grew 13.13 points or 0.55% to 2,384.21 while Hong Kong’s Hang Seng surged 390 points or 2.01% to 19,840.21.
The board of directors of Bajaj Consumer Care at its meeting held today considered and approved the proposal for buyback of fully paid-up equity shares of the company having a face value of Rs 1 from all shareholders/beneficial owners of the Equity shares of the company.
Lupin has appointed Spiro Gavaris as President of US generics business. He most recently served as President of specialty generics business at Mallinckrodt Pharmaceuticals and the president of US injectables at Hikma. Lupin was quoting at Rs 754.70, up Rs 0.15, or 0.02%.
The dollar retreated on Friday as worries over a slowdown in the United States mounted, with traders on guard ahead of a slew of central bank meetings next week, with the Federal Reserve taking centre stage. Against the greenback, the euro rose 0.25% to $1.0581, edging toward its six-month peak hit at the start of the week and on track for a third straight week of gains. Sterling firmed 0.27% and stood at USD 1.2274, not far off Monday's six-month high of USD 1.2345. The Japanese yen jumped about 0.4% to 136.13. The U.S. dollar index fell 0.23% to 104.57, after slipping 0.3% overnight.
Indian stock markets will remain closed for 15 days in the calendar year 2023. There are 4 holidays falling on Saturday and Sunday while 15 are on weekdays. In January there is only 1 holiday while in March there are two. Most holidays are in the month of April.
Nifty Bank advanced 0.26% supported by gains in Bank of Baroda (up 2.71%), AU Bank (2.12%), IndusInd Bank (1.90%), Federal Bank (0.44%) and Kotak Bank (0.40%).
IPO action will continue its momentum in December too with three public issues worth more than Rs 1,800 crore set to open next week, setting off the start of IPOs this month after 10 floats in November. Shares of Uniparts India, whose IPO concluded this week, will also make stock market debut next week. The company has raised more than Rs 835 crore through its public issue that comprised only an offer-for-sale. Ahead of the listing on 12 December, Uniparts India shares were commanding a grey market premium of 10% on Friday.
“Equity markets will be looking forward to next week’s crucial meeting of the Fed. Since the ECB and Bank of England meetings also are due next week it would be important to know the leading central banks’ view on the emerging economic scenario and their policy response. A decisive turn in the market is likely to happen only after that. In India, the market is now responding to clear trends in sectors. The better-than-expected credit growth in the economy, now running at 17.2% as per the latest RBI data, is driving the rally in the Bank Nifty. Price action in PSU banking stocks indicate interested buying in this segment whose valuations are, even after the recent run up, attractive.”- VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services
Nifty Auto index added 0.5%, supported by gains in Tube Investments Of India, Sona BLW Precision Forgings, TVS Motor Company.
Hindustan Unilever shares rose nearly 1% after the company announced that it will acquire 19.8% stake in Nutritionalab. Hindustan Unilever has entered into definitive documents to acquire 19.8% shareholding of Nutritionalab. This is a strategic investment by the company to enter the health & wellbeing category. The transaction cost is Rs 70 crore.
Sun Pharma shares were trading marginally higher. The company in its clarification note after import alert for Halol facility says it is not revising the revenue guidance for current financial year and also there will be no impact on specialty revenues. US supplies from Halol contributed approximately 3% of consolidated revenues for FY22, including sales from exempted products, it added. The USFDA has excluded 14 products from this Import Alert subject to certain conditions.
Paytm share price jumped 5 per cent in early deals on Friday, touching an intraday high of Rs on Rs 544 on NSE. The jump comes a day after the fintech company announced that the board of directors is meeting later this month to consider a share buyback proposal. In a regulatory filing, Paytm parent One97 Communications said, “We wish to inform you that a meeting of the Board of Directors of the Company is scheduled to be held on Tuesday, December 13, 2022 to consider a proposal for buyback of the fully paid-up equity shares of the Company.”
Tata Steel, HUL, IndusInd Bank, Grasim Industries and Dr Reddy’s Laboratories were among major Nifty gainers, while HCL Technologies, Tech Mahindra, Apollo Hospitals, Infosys and Axis Bank were the losers.
Indian indices opened on positive note on December 9 with Nifty around 18650. The Sensex was up 122.80 points or 0.20% at 62693.48, and the Nifty was up 37.30 points or 0.20% at 18646.60.
Benchmark indices were trading marginally higher in the pre-open session. While BSE Sensex jumped 120 pts to 62,690, broader NSE Nifty 50 rose 53 pts to 18662 level.
Indian rupee opened 13 paise higher at 82.30 per dollar on Friday versus Thursday's close of 82.43.
Foreign institutional inventors (FII) sold shares worth a net Rs 1,131.67 crore while domestic institutional investors (DII) bought shares worth Rs 772.29 crore on Thursday, December 8, 2022, according to the data available on NSE. For the month till December 8, FII sold shares worth a net Rs 5,499.13 crore while DII bought shares worth a net Rs 6,587.77 crore.
“The Nifty witnessed a brief consolidation in the range of 18500-18600 in the last couple of sessions & is poised for a recovery. In terms of the price patterns, the index has formed an Ending Diagonal pattern on the hourly chart whose follow through is expected on the upside. Going ahead, 18650-18670 is the immediate resistance zone beyond which fresh momentum can get built up. Overall short-term target continues to be at 19000 with reversal below 18500 on a closing basis. The Bank Nifty has taken a strong leap on the upside from the support zone of 43000-42900.”-Gaurav Ratnaparkhi, Head of Technical Research, Sharekhan by BNP Paribas
Nifty, which recently hit a fresh record high, may touch 20,000 in the next 18 months. Indian markets are trading above-average valuation, but as earnings will continue to grow in the next few quarters, valuations will adjust by 100-200 bps in the near term, said Sahil Kapoor, Head of Products & Market Strategist at DSP Mutual Fund, in a conversation with Shaleen Agrawal of FinancialExpress.com. Inflation is cooling off, and going forward, there will be some improvement in margins for auto, auto ancillary, and FMCG companies. Meanwhile, the near-term outlook for IT is a little weak. While margins will improve, sales will fall. There will be some deterioration in the BFSI sector numbers, but it will still deliver a good next quarter.
“Nifty witnessed a lacklustre trading session as the index failed to give any directional move. For any meaningful directional move Nifty needs to go below 18,500 decisively or above 18,700 on a sustain basis. Support below 18,500, is pegged at 18,350/18,200. On the other hand, above 18,700, resistance is visible at 18,900.”
– Rupak De, Senior Technical Analyst, LKP Securities
“Nifty managed to hold its level above 20 simple DMA on Thursday, placed at 18,500 odd levels. Any level above 18,700 would confirm the breakout from the bullish “Flag” pattern. 10 DMA and 20 DMA for Nifty are in rising mode, which indicates positional uptrend. Bank Nifty has surpassed the crucial resistance of 43,400 to close at fresh all time high levels and continue to outperform the Nifty.”
– Devarsh Vakil, Deputy Head of Retail Research, HDFC Securities
The National Stock Exchange has kept GNFC and Indiabulls Housing Finance, under its F&O ban list for 9 December. Securities thus banned under the F&O segment include companies where derivative contracts have crossed 95% of the market-wide position limit.
SGX Nifty hinted at a positive start for Indian benchmark indices amid strong global cues. Ahead of the week’s last trading session, Nifty futures were trading 0.35% higher at 18792 on the Singapore exchange. In the previous session, BSE Sensex gained 160 points to 62,571, while NSE Nifty 50 rose 49 points to 18,609. “Going forward, keep focusing on thematic movers for better trading opportunities. There have been contributions across the board, the significant benefactors that boosted the bullish sentiments were from the Banking space, especially the PSU bank index which soared to a new 52-week high. Looking at these developments, the undertone is likely to remain upbeat, and any intraday blip is expected to augur well for the bulls,” said Osho Krishan, Sr. Analyst – Technical & Derivative Research, Angel One.
“Nifty broke a two-day losing streak on Thursday, aided by optimism about China's major shift in its tough zero-COVID policy and on “as expected” outcome of state assembly elections. At the close, Nifty was up 0.26% or 49 points at 18609. Nifty managed to hold its level above 20 simple DMA on Thursday, placed at 18500 odd levels. Any level above 18700 would confirm the breakout from the bullish “Flag” pattern. 10 DMA and 20 DMA for Nifty are in rising mode, which indicates positional uptrend. Bank Nifty has surpassed the crucial resistance of 43400 to close at fresh all time high levels and continue to outperform the Nifty.”-Devarsh Vakil, Deputy Head of Retail Research, HDFC Securities
One 97 Communications Limited, the parent entity of Paytm, will hold a board meeting on December 13 to consider a proposal for a share buyback, the fintech major disclosed to the exchanges on December 8.
Shares in the Asia-Pacific rose as China inflation data came in roughly in line with expectations. Japan’s Nikkei 225 rose 1.18%, while the Topix added 1.03%. In Australia, the S&P/ASX 200 inched up 0.24%. The Kospi in South Korea gained 0.64% while the Kosdaq climbed 0.79%. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.71%. Hong Kong’s Hang Seng index advanced 1% in early trade before paring some gains to trade 0.51% higher. Mainland China’s Shenzhen Component was 0.11% lower while the Shanghai Composite lost 0.2%. China’s consumer price index rose 1.6% in November on an annualized basis, while its producer price index fell 1.3%.
The S&P 500 ended higher on Thursday, snapping a five-session losing streak, as investors interpreted data showing a rise in the weekly jobless claims as a sign the pace of interest rate hikes could soon slow. The Dow Jones Industrial Average rose 183.56 points, or 0.55 percent, to close at 33,781.48; the S&P 500 gained 29.59 points, or 0.75 percent, to finish at 3,963.51; and the Nasdaq Composite added 123.45 points, or 1.13 percent, at 11,082.00.
Trends in the SGX Nifty hinted at a firm opening for the broader index with gains of 66.50 points. The Nifty futures were trading around 18,794 levels on the Singapore Exchange.