Share Market News Today | Sensex, Nifty, Share Prices Highlights: Bulls marched back on Dalal Street as BSE Sensex ended 721 pts or 1.2% higher at 60,566, while NSE Nifty 50 closed at 18,015, up 208 pts or 1%. All the sectoral indices ended in green. In the broader market, BSE midcap index added 2.3% and smallcap index rose 3%. SBI, IndusInd Bank, Hindalco Industries, Tata Steel and Coal India were the biggest Nifty gainers, while Divis Labs, Cipla, Dr Reddy’s Laboratories, Nestle India and Kotak Mahindra Bank were the laggards. Among individual stocks, shares of NDTV gained over 5% after the company’s founders Prannoy Roy and Radhika Roy decided to sell 27.26% shareholding in the news broadcaster to Adani Group.
Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market News 26 December, Monday
Indian rupee closed 21 paise higher at 82.65 per dollar on Monday against Friday's close of 82.86.
Benchmark indices ended higher with Nifty closing around 18,000 as bulls returned to Dalal Street. Buying was seen across the sectors, barring pharma. SBI, IndusInd Bank, Hindalco Industries, Tata Steel and Coal India were among the biggest Nifty gainers, while Divis Labs, Cipla, Dr Reddy's Laboratories, Nestle India and Kotak Mahindra Bank were the laggards. All the sectoral indices ended in the green.
The BSE midcap index added 2.3% and smallcap index rose 3%.
Karnataka Bank has received approval from Reserve Bank of India for appointment of Sekhar Rao as its Executive Director. Rao is appointed as Executive Director of the bank for a period of three years. Karnataka Bank shares jumped 10%, and were quoting at Rs 141 on BSE.
Benchmark indices extended the gains and trading at day's high level with Nifty above 18,000. The Sensex was up 988.49 points or 1.65% at 60833.78, and the Nifty was up 275.20 points or 1.55% at 18082.
This new year will bring a lot of profitable stock-specific opportunities for investors. Initially in 2022, the Nifty index slipped lower after its failed attempt to reclaim the record high in the beginning and made a low at 15,191.10 in June month. However, the tone changed in the latter half and the index pared all the losses and reached a new record high at 18,887.60 levels in December. “Currently, the index is hovering around the upper band of the range amid mixed signals from the global front, especially the US markets. From the medium-term perspective, Nifty should hold decisive above 18,700 to start the next leg of the up move else the time-wise correction would continue,” said analysts at Religare Broking.
"In the coming year, we expect that volatility for the rupee could continue to remain elevated and with central banks at this point of time continue to remain hawkish is likely to be supportive for the dollar across the board. In the next couple of months, focus will now be shifting to how the economic numbers from the various nations start to come in as steps taken by the major central banks is likely to reflect on the underlying economy. We expect that the USDINR(Spot) could trade with a positive bias and in the next quarter could quote in the range of 81.50 and 84.50."-Navneet Damani, Sr. VP, Currency & Commodity, MOFSL
"Since the start of 2022, our view has been more in the favour of silver outperforming gold, and the returns comparison depicts the same. As per our previous quarterly report, we had given medium target of Rs. 53,000 for Gold and Rs. 64,500 for Silver which was achieved recently. Now, we do see some signs of exhaustion in both metals, however these dips could be used as buying opportunity for any medium to long-term investor for the target of Rs. 58,000 in gold and Rs. 73,000 followed by 82,000 in silver."- Navneet Damani, Sr. VP, Currency & Commodity, MOFSL
The Sensex is up 692.86 points or 1.16% at 60,538. Nifty 50 is up 198.10 points or 1.11 percent at 18,004.
BSE Midcap index added 2%, led by Indian Overseas Bank, Union Bank of India, Bank of India
Poonawalla Fincorp shares rose 13% to Rs 279.20 on Monday. The shares touched an intraday high of 279.20 and a low of 248.00.
Suven Pharma shares fell 2% to Rs 488.00 in the intraday trade after rising 4% in the initial hours of trading after Advent International signed a deal to acquire a significant stake in the Hyderabad-based company from its promoter Jasti family.
Nifty PSU Bank was trading nearly 5% higher at 4,077.20 led by Indian Overseas Bank (up 11.83%), Union Bank (up 11.03%) and Bank of India (up 8.59%).
The BSE Sensex is trading 656.37 points or 1.10% higher at 60,500. The NSE Nifty is trading over 1% up at 18,001.
Tata Motors shares gained 2.68% to Rs 388.45 after subsidiary TML CV Mobility Solutions signed a contract with the Delhi Transport Corporation (DTC) to operate 1,500 electric buses in New Delhi. TML will supply, operate, and maintain 1,500 12-metre, low-floor, air-conditioned electric buses for a period of 12 years.
Larsen & Toubro shares rose over 2% to Rs 2106.00 after the Water & Effluent Treatment Business of L&T Construction secured an order from the Tumakuru Industrial Township Limited (TITL).
Axiscades Technology Ltd shares climbed nearly 4% to Rs 290.90 after the company announced that it has completed the acquisition of Mistral Solutions. The acquisition, which was initiated in the year 2017, was executed over 4 phases at an aggregate acquisition cost of Rs 296 crore.
This week expectation of range bound movement but probably domestic market likely to bounce back after a fall of 3% in index this week; largely due to absence of global events next week (No news is good news) ahead of Christmas Holiday in US and European countries (Monday closed). Hope of short covering likely in the expiry of December series. Nifty has formed a Bearish candle on daily scale and has been making lower lows from the last seven sessions. Now, till it holds below 17950 zones, weakness may be seen towards 17650 and 17500 zones whereas hurdles are placed at 17950 and 18081 zones.
"There remain multiple global macro factors at play which would likely have a bearing on the direction of equity markets. Indian growth outlook appears stable and a relative outlier. However, the external sector is the key monitorable. Corporate earnings estimates have seen some downtick seen recently. On the other hand, commodity cost pressures easing off is a positive and earnings growth from here on would likely be driven by operating leverage. While growth remains strong, Indian markets are trading at valuations which are above long term averages on an absolute basis and valuations relative to emerging markets are stretched. With this back drop, we believe that bottom up stock picking would be the way forward in 2023.”- Shibani Sircar Kurian, Senior EVP & Head- Equity Research, Kotak Mahindra AMC
All broader market indices of Nifty were trading in green with Nifty Mid Cap 50 rising over 1%, Nifty Small Cap 100 up 2.03%, and Nifty Micro Cap 250 up 2.26%.
SJVN rallies 6% on bagging full capacity for 100MW of wind power project. The company has won the full capacity of the 100 MW wind power project at Rs 2.90 per unit on a build-own-and-operate basis through an e-reverse auction.
The Sensex was up 449.45 points or 0.75% at 60294.74, and the Nifty was up 128.70 points or 0.72% at 17935.50.
Siemens rises 3% as the company bags Rs 26,000 cr tender from railways to supply 1200 freight trains.
BSE Realty index rises 1%, led by Phoenix Mills, Indiabulls Real Estate, Sobha
Packaging solutions provider Sah Polymers has set a price band for its initial public offering at Rs 61-65 a share. The issue will open for subscription from December 30- January 4. Investors can bid for a minimum of 230 shares and in multiples thereafter.
The company has reserved 75% of the public issue size for qualified institutional buyers, 15% for high networth individuals (non-institutional investors), and the remaining 10% for retail investors.
The Indian rupee opened marginally higher at 82.78 per dollar against Friday’s close of 82.86. The local unit is expected to appreciate on Monday mainly on the back of a weak US dollar and rise in risk appetite in Asian markets. However, a surge in crude oil prices may prevent sharp gains in domestic currency. “Also, as the holiday season started market volume may remain thin. US$INR (December) is facing strong resistance near 83.00 level. As long as it sustains below this level it may slip back to 82.55 level,” said ICICIdirect.
Nifty PSU Bank index up 2%, led by the Union Bank of India, Indian Overseas Bank, Bank of Maharashtra
"The market sell off on Friday was the consequence of the cumulative impact of Covid fears, valuation concerns and margin calls in many momentum stocks. It is important to note that the 320 point cut in Nifty was caused on a day when DIIs bought heavily for Rs 3398 crores and FIIs sold only for Rs 706 crores. This means the selling was triggered by HNIs and retail which, in turn, triggered margin calls in momentum stocks that led to steep cuts in these segments. Heavy FII selling in call options in the derivatives segment indicate that recovery will be slow and tough. Long-term investors can nibble at high quality stocks in capital goods, telecom, banking, and pharma."-VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services
New Delhi Television Ltd (NDTV)'s shares gained 2% after founders Prannoy Roy and Radhika Roy said on 23 that they have decided to transfer most of their shares in the company to Gautam Adani, giving his conglomerate control over nearly 65% of the media network.
Goldman Sachs Funds – Goldman Sachs India Equity Portfolio bought 3,92,421 Landmark Cars Ltd (LANDMARK) shares Landmark Cars Ltd (LANDMARK) at Rs 466.55 per share.
Barclays Securities India Pvt Ltd sold 2,13,033 shares of Zota Health Care Ltd (ZOTA) at Rs 254.50 per share.
West & Best Trading Pvt Ltd bought 2,99,000 shares of Abans Holdings Ltd (AHL) at Rs 267.91 per share.
Foreign institutional inventors (FII) sold shares worth a net Rs 706.84 crore while domestic institutional investors (DII) purchased shares worth a net Rs 3398.98 crore on Friday, December 23, 2022, according to the data available on NSE.