Share Market Today LIVE | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market News Updates December 23 | The Financial Express

Share Market Crash LIVE: Nifty tanks 300 pts, ends below 17850, Sensex plunges 980 pts; Reliance leads losses

Share Market News Today | Sensex, Nifty, Share Prices LIVE: NSE Nifty 50 declines over 250 points hit day’s low of 17,857, while BSE Sensex slumps over 800 points to fall below 60,000

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Indian equities likely to correct further on pessimistic investor sentiments. Asia-Pacific shares traded lower, taking the lead from losses on Wall Street.

Share Market News Today | Sensex, Nifty, Share Prices LIVE: Indian benchmark indices closed the session in deep red, extending losses for the fourth straight day. BSE Sensex fell over 980 pts to end at 59,845.29, while NSE Nifty 50 plunged 300 pts to end just above 17800. Adani Ports, Adani Enterprises, Hindalco Industries, Tata Steel and Tata Motors were among the biggest Nifty losers. All the sectoral indices ended in the red. The BSE midcap index lost 3.3% and smallcap index slipped nearly 4%. Volatility gauge, India VIX, meanwhile, climbed 6.40% intraday. PSU Bank stocks crashed to close 6.06% lower, while Nifty Media and Nifty Metal settled down by over 4% each.

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Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market News Live Updates 23 December, Friday

16:11 (IST) 23 Dec 2022
Nifty closed below the 50 day SMA

“Technically, after a long time the index closed below the 50 day SMA (Simple Moving Average) and also formed a long bearish candle on weekly charts which is broadly negative. For traders, as long as the index is trading below 18000, the correction wave is likely to continue and below the same, the index could slip till 17600-17500. On the flip side, 18000 could act as a sacrosanct resistance zone. The dismissal of 18000 could push the index till the 50 day SMA or 18150-18200.” – Amol Athawale, Deputy Vice President – Technical Research, Kotak Securities

15:41 (IST) 23 Dec 2022
Nifty top gainers, losers

The Nifty 50 index saw only three gainers in trade today which were Cipla, Divis Lab and Titan. On the other hand, 47 stocks closed in the red, with the day's top loser, Adani Ports ending lower by 7%. Adani Enterprises, Hindalco, Tata Steel and Tata Motors were the day's biggest losers.

15:37 (IST) 23 Dec 2022
Rupee depreciates against dollar

Indian rupee closed 10 paise lower at 82.86 per dollar on Friday against previous close of 82.76 per dollar.

15:34 (IST) 23 Dec 2022
Nifty, Sensex end in red for 4th straight day

Benchmark indices ended lower for the fourth consecutive session. BSE Sensex fell over 980 pts to end at 59,845.29, while NSE Nifty 50 plunged 300 pts to end just above 17800. Adani Ports, Adani Enterprises, Hindalco Industries, Tata Steel and Tata Motors were among the biggest Nifty losers. All the sectoral indices ended in the red. The BSE midcap index lost 3.3% and smallcap index slipped nearly 4%.

15:20 (IST) 23 Dec 2022
Sensex a sea of red

BSE Sensex plunges 1000 pts to trade below 60000. All 30 index constituents are trading in red.

15:17 (IST) 23 Dec 2022
BSE Smallcap tanks 4%

BSE Smallcap index down, nearly 4% dragged by Goodluck India, Lancer Container Lines, EKI Energy Services

15:04 (IST) 23 Dec 2022
Sensex below 60000

The Sensex was down 908.04 points or 1.49% at 59918.18, and the Nifty was down 299.30 points or 1.65% at 17828.

15:01 (IST) 23 Dec 2022
Nifty, Sensex fall further into red

Benchmark indices extend losses in the last hour of trading. BSE Sensex tanks more than 900 pts, Nifty falls 300 to trade near 17800.

14:59 (IST) 23 Dec 2022
Analysts keeps ‘Buy’ rating on Reliance stocks

-Buy call, target at Rs 2,850 per share
-Metro cash & carry a good deal at a reasonable valuation
-Metro cash & carry at close to breakeven, will contribute 15 percent to topline
Reliance Industries was quoting at Rs 2,510.90, down Rs 67.00, or 2.60%.

-Motilal Oswal Financial Services

14:53 (IST) 23 Dec 2022
IT stocks drag

Nifty Information Technology (IT) index, shed 1 percent dragged by L&T Technology Services, Mphasis, Coforge

14:43 (IST) 23 Dec 2022
Govt to raise Rs 272 cr by selling IRCTC shares via OFS, stock falls 4%

The Government of India is proposing to offer up to 40 lakh equity shares of Indian Railway Catering and Tourism Corporation to the eligible employees at a price of Rs 680 per equity share. The offer for sale for employees will remain open from December 23 to December 26. Indian Railway Catering & Tourism Corp was quoting at Rs 613.15, down Rs 27.90, or 4.35%.

14:39 (IST) 23 Dec 2022
Zomato Large Trade

1.47 crore shares (0.2% equity) worth Rs 83 crore change hands at an average of Rs 55.4 per share

14:29 (IST) 23 Dec 2022
Market mayhem to end next week: Sanjiv Bhasin

“Chaos will end by Monday, time to buy your favorite stocks looking for strong end to New Year next week, BUY REC best play on electricity receivables with SEB in best position ever, stock will surprise on upside, target 135-140 by budget, see you on Monday,” said Sanjiv Bhasin, Director of IIFL Securities in a tweet.

14:25 (IST) 23 Dec 2022
PSU Bank stocks tank

Public sector undertaking (PSU) bank shares came under pressure on profit booking. Indian Overseas Bank (IOB), UCO Bank, and Central Bank of India dipped 10%, while Indian Bank, Bank of Maharashtra, Union Bank of India, Bank of India, and Canara Bank slipped in the range of 5.5% to 9% on NSE. The Nifty PSU Bank index was the top loser among sectoral indices and was down around 5%, compared to 1.4% decline in the Nifty 50. With today's fall, the Nifty PSU Bank index has corrected 15% from its 52-week high level of 4,617.40 touched earlier this month on 15 December.

14:21 (IST) 23 Dec 2022
Rs 16 lakh crore of investors’ wealth eroded in 7 sessions

Investors' wealth has been eroded by more than Rs 16 lakh crore of investors' wealth in the last seven sessions in a row. The BSE Sensex has broken its psychological 60,000 mark intraday and traded down more than 800 points. The Nifty50 also dipped below the crucial 18,000 mark, trading more than 240 pts lower. The BSE Midcap index fell more more than 2.5% and Smallcap index corrected nearly 3%. Hawkish statements by central banks indicating continuity in rate hikes, growing global recession worries, and now surging Covid cases in several countries spooked market participants.

14:11 (IST) 23 Dec 2022
Nifty, Sensex trade with heavy losses

Sensex is down 840.47 points or 1.38% at 59985.75, and the Nifty shed 276.10 points or 1.52% at 17851.20.

14:10 (IST) 23 Dec 2022
Broader markets extend losses

Nifty Midcap 100 is trading down 3%; Union Bank, Adani Wilmar tank 8%

14:01 (IST) 23 Dec 2022
Promoter offloads Rs 637.2 crore shares in Ajanta Pharma; shares fall

Promoter entities have offloaded Rs 637.2 crore shares or 4.28% stake of Ajanta Pharma via open market transactions, with Aayush Agrawal Trust selling 38.53 lakh shares and Ravi Agrawal Trust offloading 16.38 lakh shares at an average price of Rs 1,160.1 per share. Promoters informed exchanges that they have sold total 4.38% stake in the company and are proposed to utilise these funds for financing their respective private businesses, including repayment of loans taken against pledge of shares of the company. However, ICICI Prudential Mutual Fund acquired 10.86 lakh shares in the pharma company and Nippon India Mutual Fund purchased 7.15 lakh shares at an average price of Rs 1,160.1 per share. Ajanta Pharma was quoting at Rs 1,237.80, down Rs 6.45, or 0.52%.

13:55 (IST) 23 Dec 2022
Underweight sectors in 2023

“Laggards or the lower expectation sectors from the pack will be Construction, especially Residential Property and developers segment due to the rapid increase in mortgage loan interest rates passed on by banks & housing finance companies. Similarly, NBFC’s will also be struggling to drive business growth for some time while banks re-calibrate credit rating checks and consumers start accepting the higher interest rate loan offers out of necessity. Another sector that may remain affected for another 3-6 months before any good expectation is the Specialty Chemicals sector. Metals and Steel industry may find actual prices remaining lower for 2023, thereby benefitting downstream businesses.”-Anmol Das, Head of Research, Teji Mandi

13:50 (IST) 23 Dec 2022
Next market rally to be led by IT sector; FMCG, Capital goods among top bets for 2023

“For the benchmark indices, we are expecting that the attrition rate fever of Indian IT Companies wears away soon now as most of the offices resume and moonlighting is left behind as nostalgia of 2022. Hence, we are expecting the next rally to be led by IT sector with marginal upgrades on sequential basis first on improving attrition rates followed by demand revival from European geographies as winters pass through. Other sectors which will see good fortunes include FMCG, Capital Goods, Auto and auto-ancillary companies, tyre and battery companies on replacement demand backed by good new sales in domestic market, Infrastructure and Power segment.”- Anmol Das, Head of Research, Teji Mandi

13:49 (IST) 23 Dec 2022
Re-rating of PSU bank to continued for next 1-2 yrs

“We believe the ongoing re-rating of PSU Banks will keep on going for the next 1-2 years before peaking as increased interest rates start tumbling asset qualities for some banks as high Credit Growth Rate leads to them to grant some below BBB grade of Credit underwriting out of just keeping up the pace of Credit Underwriting.”-Anmol Das, Head of Research, Teji Mandi

13:48 (IST) 23 Dec 2022
Year 2023 likely to normalise current trend of global consumption, supply lines

“2023 is expected to normalise the current trend of global consumption and supply lines gradually as an existing and accepted order, e.g. the purchase of Oil & Gas by India and China from Russia while European Union nations shun Russian fossil fuel and shift supply sources to Middle Eastern nations, shifting of energy-intensive industries away from Europe, further delay in adoption of renewable energy, etc. With no hopes yet of either side bogging down in Ukraine, we just wish it doesn’t spread or open another theatre of war elsewhere.”-Anmol Das, Head of Research, Teji Mandi

13:46 (IST) 23 Dec 2022
Defence 2023 Outlook positive

“We believe defence sector has just started as of now, and looking at India’s geographic position in Asia, nuclear rivals at borders and immensely high cost of importing advanced weapons, e.g. just for reference, the price per unit of Rafale Fighter Jets for India was more than Rs 1,000+ Cr, thereby limiting the overall purchasing capability of a developing nation, then we had 5 units of S400 Air Defense System for Rs 35,000 Crs to be acquired from Russia, and so on. Hence, we believe that the pressure of maintaining ability to defend against a two pronged war and the minimum credible deterrence to avoid it altogether with the required strong posturing, India’s defense sector has a long way to develop and will remain attractive as ultra long term stock picks.”-Anmol Das, Head of Research, Teji Mandi

13:43 (IST) 23 Dec 2022
Nifty may fall to 17800, pullback likely at 18070; avoid aggressive positions, lighten up longs

Technically, the index has retraced about 38.2 percent of the recent upmove from 16750 to 18888, and swing low support is around 17970. Below this level, next support would be directly around 17800 mark. Hence, although the data is not optimistic, a pullback move could be seen in the near term from the support zone of 18070-17970. On pullback moves, resistances will be seen around 18300 and 18450-18500 range. Unless we see a change in data, traders are advised to avoid aggressive positions and look to lighten up longs on pullback moves.

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13:14 (IST) 23 Dec 2022
Black Friday for investors as Nifty, Sensex bleed; Covid, recession threats spook Dalal Street bulls

The Indian share market, which has been defying trends in global peers until recently to outperform, saw a sharp correction on Friday. Benchmark indices were trading deep in red with BSE Sensex falling over 800 points to trade below the 60,000 level and NSE Nifty 50 tanking 200 pts to give up 17,900 level. Except Nifty Pharma index, which held marginal gains, all sectors were trading in red with Nifty Media, Nifty Metal, Nifty Realty, and Nifty PSU Bank indices falling up to 4%. While weak global markets put a pause on Indian equities’ Santa Claus rally, renewed Covid-19 fears and recession threats in the near term spooked Dalal Street bulls ahead of Christmas.

Read about what's dragging markets today

12:57 (IST) 23 Dec 2022
Recession fears spook investors

With the core inflation remaining sticky in most economies around the world, central banks fof many countries are likely to continue with monetary tightening in 2023 as well. This is increasing the probability of large global economies like China, the US falling into a recession and the experts are seeing diminishing chances of a soft landing. This is expected to aggravate the problems of financial markets further, fuelling recession concerns, leading to investors running away from risky assets.

12:22 (IST) 23 Dec 2022
Year-end pressure on markets?

Nifty is feeling pressure on rises as investors rush to take profits and raise cash ahead of the month, quarter and calendar year-end, according to Deepak Jasani of HDFC Securities.

12:21 (IST) 23 Dec 2022
What’s putting a pause on the Santa Claus rally

Weak Wall Street cues: Amid fears related to Fed rate hikes, the Dow Jones ended with a downside of over 1% while the cut was sharper in the Nasdaq at 2.18%. The benchmark S&P 500 is on track for a 19.8% annual drop, which would be its biggest since the 2008 financial crisis.

12:20 (IST) 23 Dec 2022
What’s spooking D-St bulls

US Data: Data from the US on consumer confidence, jobless claims, and Q3 GDP numbers surprised on the upside but it also means that it also increases the risks of more Fed rate hikes. US Q3 GDP recorded a growth of 3.2%, above the estimate of 2.9%. Initial jobless claims rose slightly to 216,000, a beat of the 222,000 estimate.

Covid fears: Fears related to Covid have also started troubling investors once again as the infection rages through China. Bloomberg had yesterday reported that China is likely seeing 1 million Covid cases and 5,000 deaths a day. There is an element of overreaction in the market to the Covid news, said VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

12:15 (IST) 23 Dec 2022
Sectoral oveview

Barring Nifty Pharma index, which held marginal gains in a weak market, all sectors were trading in red. Nifty Media, Nifty Metal, Nifty Realty and Nifty PSU Bank indices were the top laggards, falling up to 4%.

12:15 (IST) 23 Dec 2022
Broader market witness selling pressure

Broader markets fell in tandem with benchmark indices. Nifty MidCap 100 and Nifty SmallCap 100 indices fell up to 3%.

12:09 (IST) 23 Dec 2022
Nifty near-term texture weak

“Nifty has slipped below its 50-DMA and psychological level of 18000, which is not a good sign for the bulls. The 100-day moving average of 17800 is now a key support level where we can expect a bounceback. However, the near-term texture has become weak, where 18200 is an immediate hurdle and 18400 will be the next critical hurdle.”-Pravesh Gour, Senior Technical Analyst, Swastika Investmart Ltd

12:09 (IST) 23 Dec 2022
UBS lowers 2023 Nifty target by 4% to 18,000

Foreign brokerage UBS sees a 4% downside to the Nifty target at 18,000 points for the next year from the current levels, It cited fast-ebbing household inflows into equities, whittling down foreign inflows, and rising bank deposit rates as the reasons behind the negative outlook. The Nifty target for December 2023 is 18,000 points, a full 4 percentage points downside to the current levels, as India is among its top underweight markets in the emerging market space in 2023, the Swiss brokerage UBS Securities India strategist Sunil Tirumalai said in a report.

12:07 (IST) 23 Dec 2022
Nifty, Sensex extend losses, trading deep in red

Benchmark indices extended losses in noon deals. BSE Sensex was down more than 700 pts or 1.25% at 60,064.35, while NSE Nifty 50 fell over 250 pts to give up 17900.

11:37 (IST) 23 Dec 2022
Radiant Cash Management IPO opens, company mops up Rs 116 crore from anchor investors

Radiant Cash Management IPO opened for subscription for retail investors on Friday, 23 December. The issue will conclude next week on 27 December. The price band of the issue has been fixed at Rs 94-99 per share. The integrated cash logistics player is looking to raise Rs 388 crore via the maiden public issue. The IPO comprises a fresh issuance of shares worth Rs 60 crore and an offer for sale (OFS) of Rs 328 crore by promoter and investor. Half of the offer is reserved for qualified institutional buyers, 15% for high networth individuals (HNIs) and the remaining 35% for retail investors.

Should you apply?

11:25 (IST) 23 Dec 2022
NSE gets SEBI nod to set up SSE

The National Stock Exchange of India (NSE) received in-principle approval from the Securities Exchange Board of India (SEBI) to set up a Social Stock Exchange (SSE) as a separate segment of the NSE. Social Stock Exchange will provide platform for listing of social enterprises and voluntary organizations working for the realization of a social welfare objective, so that they can raise capital as equity, debt or as units like a mutual fund.

11:07 (IST) 23 Dec 2022
Indices hold in red

Sensex is down 566.83 points or 0.93% at 60259.39, and the Nifty declined 182.10 points or 1.00% at 17945.20.

10:50 (IST) 23 Dec 2022
Consolidation within bull market

“Nifty dipped below 19x one year Fwd earnings today. At the peak last year, it was trading at ~24x 1 Yr Fwd. Gradually, earnings growth and PE compression will continue.

Last 15 months:

EPS up 17%

Nifty up 3.5%

These are consolidation cycles within a bull market.”-Sahil Kapoor – Head of Products & Market Strategist, DSP Mutual Fund

10:43 (IST) 23 Dec 2022
Lupin shares buck market trend

Lupin Pharma shares were trading around half a percent higher amid weakness in equity market. The company is voluntarily recalling four (4) lots of Quinapril Tablets to the patient (consumer/user) level due to the presence of a nitrosamine impurity, N-Nitroso-Quinapril, observed in recent testing above the Acceptable Daily Intake (ADI) level. To date, Lupin has received no reports of illness that appear to relate to this issue.

10:34 (IST) 23 Dec 2022
Major correction on cards

“Below 18080, we can anticipate a short-term trend reversal. The 20-DMA of 18550 is a significant barrier on the upside, while 18440 is an immediate barrier. To reverse the bearish scenario, Nifty needs to break through this level. Bulls will anticipate a short covering move since the put/call ratio is oversold. Bank Nifty has slipped below the 20-DMA, where 42200-42000 is an immediate and critical support zone; below this, we can expect any major weakness, otherwise it may bounce back again. On the upside, the 20-DMA of 43300 will act as a hurdle now.”-Santosh Meena, Head of Research, Swastika Investmart Ltd

10:29 (IST) 23 Dec 2022
Bank Nifty in red, down 1%

Bank Nifty was trading deep in red. The index is down 500 pts or 1% at 41,975.

10:28 (IST) 23 Dec 2022
RailTel bags order worth Rs 98.56 cr, shares down 2.8%

RailTel Corporation of India has bagged the work order from Webel Technology Ltd for acting as System Integrator for Capacity Enhancement of West Bengal State Data Centre (WB-SDC), Monibhandar, Kolkata. The total value of the work is Rs 98.56 crore (including GST). 

10:18 (IST) 23 Dec 2022
Dream debut for Droneacharya, shares list at 90% premium

Droneacharya Aerial Innovations shares had a dream debut on Dalal Street. The SME IPO listed on BSE SME exchange today at Rs 102 apiece, around 90 per cent higher from its issue price of Rs 54 apiece. After opening at Rs 102 apiece on the BSE SME exchange, Droneacharya Aerial Innovations share price went on to hit intraday high of Rs 107. Currently, Droneacharya Aerial Innovations shares are quoting at Rs 107 apiece levels.

Read full story.

10:14 (IST) 23 Dec 2022
Benchmark indices fall nearly 1%

Nifty, Sensex were trading deep in red, down nearly 1 per cent amid rising crude price, weak global market sentiments and strength in US dollar. Nifty is trading nearly 1% down at 17,950 and Sensex slipped more than 500 points ro trade near two-month low.

10:13 (IST) 23 Dec 2022
Disappointing listing for Landmark Cars

Amid weakness in the domestic share market, Landmark Cars witnessed a disappointing debut as the stock listed at a 7% discount below its issue price of Rs 506 apiece. It started trading at Rs 471 on the NSE.

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10:11 (IST) 23 Dec 2022
Flat market debut for Abans Holdings

Abans Holdings, financial services subsidiary of the Abans Group, made a lackluster market debut. The stock started trading at Rs 273 on the NSE and Rs 270 on the BSE. The issue price was Rs 270. Few minutes into the trade, share price fell over 15%.

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10:06 (IST) 23 Dec 2022
Nifty, Sensex extend losses

Benchmark indices were trading near day's low with Nifty below 18000. The Sensex was down 494.51 points or 0.81% at 60331.71, and the Nifty was down 153.80 points or 0.85% at 17973.50.

10:00 (IST) 23 Dec 2022
Healthcare shares gain amid renewed Covid fears

BSE Healthcare index added nearly 1 percent, led by Syncom Formulations (India), Nectar Lifesciences, Kopran

09:48 (IST) 23 Dec 2022
Investors’ wealth down by Rs 3.4 lakh crore

As Indian benchmark indices continued to fall on Friday amid weak global cues, Rs 3.44 lakh crore of investors' wealth was eroded in the initial minutes of trading.

09:44 (IST) 23 Dec 2022
Rupee opens lower, may depreciate further on strong dollar, elevated crude oil prices and weakness in markets

The Indian rupee opened marginally lower on Friday at 82.77, down 1 paise from the previous close of 82.76. The local unit is expected to depreciate further mainly on the back of a firm dollar, rise in crude oil prices, and risk aversion in global markets. Market sentiments are pessimistic as investors fear that solid economic data from the US may keep the US Fed hawkish for longer. “Additionally, market participants will remain cautious ahead of inflation and personal spending data from the US to get fresh directional cues. US$INR (December) is expected to trade in a range of 82.60-83.05,” said ICICIdirect.

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First published on: 23-12-2022 at 07:58 IST