Share Market Highlights: Sensex ends 90 points lower at 57,806, Nifty holds just above 17,200

Share Market News Today | Sensex, Nifty, Share Prices HIGHLIGHTS: Domestic equity market benchmarks closed in the red on Wednesday, after having spent most of the day dancing between gains and losses.

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

Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic equity market benchmarks BSE Sensex and Nifty 50 closed in the red on Wendesday. S&P BSE Sensex fell 90.99 points or 0.16% to end at 57,806 while the NSE Nifty 50 index slipped 19.65 points or 0.11% lower at 17,213. Bank Nifty was down 0.4%, just holding above 35,000 mark. Broader markets traded mixed. India VIX slipped 1.46% at the end of the day’s trade. Sun Pharma was the top index gainer, up 2.86%, followed by Bajaj Auto, IndusInd Bank, Dr Reddy’s and Titan. State Bank of India was the worst-performing Sensex constituent, followed by ITC, Tech Mahindra, and Tata Steel.

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4:15 (IST) 29 Dec 2021
Sensex snaps two-day gaining streak, Nifty needs to breach 17300 for further upside

Domestic equity benchmark indices snapped their two-day gaining streak to end with losses on Wednesday. S&P BSE Sensex fell 90.99 points or 0.16% to end at 57,806 while the NSE Nifty 50 index slipped 19.65 points or 0.11% lower at 17,213. Bank Nifty was down 0.4%, just holding above the 35,000 mark. Sun Pharma was the top index gainer, up 2.86%, followed by Bajaj Auto, IndusInd Bank, Dr Reddy's and Titan. State Bank of India was the worst-performing Sensex constituent, followed by ITC, Tech Mahindra, and Tata Steel. Broader markets traded mixed. India VIX closed 1.46% in the red.

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3:27 (IST) 29 Dec 2021
Bank Nifty gives up 35000

With minutes left before the closing bell, the Bank Nifty index gave up 35,000 and it fell 0.62%. The banking gauge was hovering around 34,960.

3:16 (IST) 29 Dec 2021
Leapfrogging into 2022: Here are the trends that will drive growth for India

As we close the calendar year of 2021, we realize that we have come a long, long way from January 2020 (when the covid story began in India). As we reflect on the year that passed by, we can note that 2021 was a year replete with personal challenges (some of these include individuals ability or rather audacity to normalize hospital visits), mini-wars against the multiple variants of the covid-19 virus, opportunities to identify multiple white spaces to develop and build solutions for a changing India (something which Indian entrepreneurs tapped into and the investor community supported with the generous influx of capital) and lessons for brands, organizations, and individuals (to understand that emotional capital is a multibagger asset and like a multibagger stock very few investors have the tenacity to envision how this asset will help in achieving multifold returns in one’s personal and professional goals).

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2:57 (IST) 29 Dec 2021
Multiplex stocks heading down?

“Delhi government's decision to shut down theatres and multiplexes will certainly hit the revenues of these businesses. The greater concern is whether other governments too will follow suit as the Omicron variant spreads. The hit to the revenues of multiplexes is reflected in the reaction of stock prices. Both PVR and Inox leisure are around 30 percent off from their November highs.  There is a view gaining ground that the Omicron variant is less virulent, though fast-spreading, and therefore, might be indicating the imminent end of the pandemic. If this turns out to be true, the closure of theatres and multiplexes may be short-lived and stock prices will bounce back,” said VK Vijaykumar, Chief Investment Strategist at Geojit Financial Services.

2:11 (IST) 29 Dec 2021
Mukesh Ambani hints at handing over RIL’s reigns to next-generation; formalising the transition

Mukesh Ambani has hinted at a leadership transition at the helm of affairs of Reliance Industries Ltd (RIL). The richest person in India said that Reliance is now in the process of effecting a momentous leadership transition, leading some to suggest that his three kids might soon be taking the center stage. “All seniors — myself included — should now yield to the highly competent, extremely committed, and incredibly promising young leadership talent at Reliance,” Mukesh Ambani said on Tuesday at the Reliance Family Day, which marks the birth anniversary of the group’s founder Dhirubhai Ambani. Mukesh Ambani did not give details on how the transition is being planned.

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12:10 (IST) 29 Dec 2021
Rupee outlook 2022: Union Budget, state elections to impact INR; rupee to trade in this range in next 5 months

It is said that inflows into the country lead to an appreciating move in the local currency and outflow leads to a depreciating move. For the first 9 months ending September, the equity market observed a whopping inflow of almost Rs 64,000 crore. Throughout this period, Indian Rupee remained in a tight range of 72.50 to 75.50 (As shown in the given weekly chart). The only reason behind the contained volatility and the tight range was RBI’s strong intervention.

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11:12 (IST) 29 Dec 2021
Paytm, Zomato, other recently listed new-age firms may get largecap tag in upcoming AMFI review

Paytm, Zomato, Nykaa, PB Fintech could be among the recently listed companies to enter the large-cap category in the upcoming semi-annual review by AMFI (Association of Mutual Funds India). Edelweiss Alternative Research believes the new age technology companies that listed in recent months could take their place as large caps in the AMFI review that is expected to be announced in the first week of January. Other stocks that Edelweiss expects to get the largecap tag include MindTree, IRCTC, SRF, and Tata Power among others. AMFI considers December 31 as the market cap cut-off date for changes. 

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11:01 (IST) 29 Dec 2021
Tradin flat

Sensex and Nifty trimmed gains to trade flat on Wednesday. Nifty was still holding 17200.

10:01 (IST) 29 Dec 2021
Gold Price Today, 29 Dec 2021: Gold gives up Rs 48,000, silver prices fall too; check support, resistance

Gold prices fell in India on Wednesday as international rates remained steady. On Multi Commodity Exchange, gold February futures were trading Rs 77 or 0.16 per cent down at 47,965, against the previous close of Rs 48,042 per 10 gram. Silver March futures were trading Rs 69 or 0.11 per cent down at Rs 62,445 per kg. In the previous session, silver futures ended at Rs 62,514 per kg.

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9:30 (IST) 29 Dec 2021
Nifty IT index top sectoral loser

Barring Nifty FMCG, Nifty IT, Nifty Auto and Nifty Metal indices, all the sectoral indices were trading in green. Nifty Bank index was up 0.14 per cent

9:26 (IST) 29 Dec 2021
Infosys, HDFC Bank, TCS top Sensex losers

PowerGrid Corporation of India, Infosys, HDFC Bank, Wipro, HCL Tech, TCS, Maruti Suzuki were among top index laggards

9:24 (IST) 29 Dec 2021
RIL, ICICI Bank top Sensex gainers

IndusInd Bank, Dr Reddy's Laboratories, Reliance Industries Ltd (RIL), ICICI Bank, Sun Pharma, ICICI Bank were among top BSE Sensex gainers

9:22 (IST) 29 Dec 2021
Sensex, Nifty trade volatile

BSE Sensex was trading volatile, up 63 points or 0.11 per cent at 57960, while the Nifty 50 was ruling above 17200

9:00 (IST) 29 Dec 2021
Nifty likely to trade between 17280-17130 range

For the coming session, the trading spot band for Nifty is between 17280-17130, which means further upsides are likely once the immediate resistance of 17280 are taken out and weakness could emerge if the support of 17130 are broken.

Raushan Kumar, Derivative Analyst, IIFL Securities

8:56 (IST) 29 Dec 2021
Nifty short-term view remains bearish

The short-term view remains bearish. The Nifty has to rise past 17500-17600 to turn the outlook bullish.

Raushan Kumar, Derivative Analyst, IIFL Securities

8:50 (IST) 29 Dec 2021
USD- INR likely to quote in 74.40-75.20 range

In the last few sessions, movement in the rupee has been led by RBI intervention and weakness in the dollar index. Most market participants have been on the sidelines on account of Christmas and New Year holidays suggests that the move has been on the back of thin volumes. This week, on the global front, no major economic data is expected to be released and on the domestic front focus will be on the fiscal number. We expect the USDINR (Spot) to quote in the range of 74.40 and 75.20.

– Gaurang Somaiyaa, Forex & Bullion Analyst, Motilal Oswal Financial Services

8:47 (IST) 29 Dec 2021
Reliance, HDFC Bank among 4 technical stocks to buy; charts suggest bullish trend going forward

We are of the view that the short-term texture of Nifty is bullish but due to an overstretched intraday rally, bulls may prefer to take a temporary pause near 17275-17300 and 58000-58100. The trading setup suggests a quick intraday correction is possible if the Nifty and Sensex succeed to trade below 17180 and 57750 levels, respectively; below the same the correction wave will move up to 17100-17160 and 57500-57300. On the other side, above 17200 and 57800, the index uptrend continuation formation will continue up to 17300 and 58100. Further upside may also continue which could lift the indices up to 17370 and 58300 levels.

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8:19 (IST) 29 Dec 2021
Nifty support lies at 17180, resistance at 17269

The Nifty 50 index formed a small real body after a bullish one. Its 100-period and 200-period simple moving averages are still sloping downwards on the hourly timeframe chart, while its momentum indicators and oscillators shown divergence. In case the index fails to continue its prior daily up-move and closes below 17,000-mark, bears will again take control. However a follow-up move could lead the index towards 17,350-17,400 zone initially and 17,500-level subsequently. On the lower side, the index will find major support around 16,800-level. As for the day, support is placed at around 17,180 and then at 17,126 levels, while resistance is observed at 17,269 and then at 17,304 levels.

Reliance Securities

8:13 (IST) 29 Dec 2021
NSE Cash segment reports turnover of Rs 43,622 crore

NSE Cash segment reported turnover of Rs 43,622 crore on Tuesday as compared to Rs 40,154 crore reported earlier. Lack of market participation remained a key concern as NSE cash segment turnover remained around multi-month low. Overall market breadth remained positive, where 1,570 stocks advanced against 456 declined stocks.

Reliance Securities

8:10 (IST) 29 Dec 2021
RBI intervention likely aimed at ensuring smooth succession at RBL Bank

The Reserve Bank of India’s (RBI) decision to appoint one of its executives to the board of RBL Bank may have been aimed at ensuring a smooth succession process at the lender, people aware of the matter have said. The bank’s board now has at least six months — the residual tenure of outgoing chief executive Vishwavir Ahuja — to complete the process.

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8:07 (IST) 29 Dec 2021
US STOCKS-S&P 500 ends lower after four-day rally to record high

The S&P 500 closed slightly lower after hitting a record intraday high on Tuesday, as a four-day rally lost steam in thin trading and investors weighed Omicron-driven travel disruptions and store closures.

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8:06 (IST) 29 Dec 2021
Asian stock markets trade mixed

Asian peers were seen trading mixed in early trade as investors assessed the impact of the Omicron Covid variant. Japan’s Nikkei 225 slipped 0.82 per cent and the Topix index also declined 0.44 per cent. South Korea’s Kospi fell 0.75 per cent.

8:06 (IST) 29 Dec 2021
SGX Nifty points to gap-down start for Sensex, Nifty

Nifty futures were trading 50 points or 0.3 per cent down at 17,213 on the Singaporean Exchange in the early trade.

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