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Share Market LIVE: Sensex ends flat with negative bias at 58,786, Nifty holds above 17,500 on closing bell

Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic benchmark indices closed flat on Friday, trimming intraday losses in the dying hour of trade.

Share Market Today, Share Market Live
India VIX closed in red. (Image: REUTERS)

Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic stock markets closed with marginal losses on Friday, trimming intraday losses in the closing hour of trade. S&P BSE Sensex ended 20 points or 0.03% lower at 58,786 points while NSE Nifty 50 index ended 5.55 points lower at 17,511. Bank Nifty closed in green along with broader markets. India VIX fell more than 3% to close just above 16 levels. Asian Paints was the top Sensex gainer, up 3.25%, followed by State Bank of India, Mahindra & Mahindra, TCS, and Bajaj Finserv. Titan was the top laggard, down 1.39%, accompanied by HDFC, Axis Bank, and Kotak Mahindra Bank.

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16:25 (IST)10 Dec 2021
Sensex snaps three-day gaining streak to close flat, Nifty to face resistance at 17600 next week

Domestic markets gave up their three-day gaining streak to end with marginal losses on Friday.  S&P BSE Sensex ended 20 points or 0.03% lower at 58,786 points while NSE Nifty 50 index ended 5.55 points lower at 17,511.

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15:32 (IST)10 Dec 2021
CLOSING BELL

Domestic benchmark indices closed flat on Friday, trimming intraday losses in the dying hour of trade. Bank Nifty closed with marginal gains while India VIX ended 3.25% in red.

14:38 (IST)10 Dec 2021
Nifty nears 17500

Nifty was trimming losses with less than an hour left before the closing bell. The index was, however, still in red.

14:13 (IST)10 Dec 2021
Broader markets outperform

Broader markets were outperforming benchmark indices on Friday afternoon. Nifty Next 50 was up in the green, up 0.26%. The midcap 50 index jumped 0.48% while the Smallcap 50 index was up 1.56%.

13:54 (IST)10 Dec 2021
Buy Ugar Sugar ~ HDFC Securities

Ugar Sugar is in an intermediate uptrend as it has been making higher tops and higher bottoms for the last several months. After recently correcting from a high of 40 and finding support around the 25 levels which also roughly coincides with the 50 week SMA, Ugar Sugar has bounced back smartly over the last few sessions and resumed its intermediate uptrend. The stock has in the process also broken out of the 25-28 levels this week on the back of above-average volumes.
Target price – Rs 32.4 – 37 per share 
Stop loss – Rs 27 

~ HDFC Securities

13:29 (IST)10 Dec 2021
Only six Sensex stocks in green

Only six of thirty Sensex stocks were in the green on Friday. The index was down more than 300 points. 

13:08 (IST)10 Dec 2021
BSE Realty index soars

“The market seems to have a clear sense that the real estate cycle that turned from the festive season is a durable one and that will continue for several years. In the cities that we cover, we clearly see the residential demand come back in a big way and sales in several cities are hitting decadal highs. We expect the demand to become broad-based as the cycle progresses. We are also witnessing pricing power come back in the developers’ hands combined with strong volumes. This has led to a rerating of the sector which is driving the realty index,” said Sharad Agrawal, Executive Director – Capital Markets, Knight Frank India.

12:55 (IST)10 Dec 2021
Stocks to buy: 2 stocks with strong fundamentals, technical support; may rally as much as 15%

Sensex and Nifty have emerged from their lows in the last few trading sessions, reversing some losses suffered during the previous month. Despite the up-move the Nifty 50 index has not crossed its short-term crucial resistance in the 17500-17600 range. Stock specific activity has been advised for investors by various analysts, spotting opportunities across the market. Analysts at ICICI Direct have picked two stocks that they believe have a strong pattern on the chart and are supported by good fundamentals for as much as 15% upside in the next three months. 

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11:55 (IST)10 Dec 2021
India VIX in red

India VIX, the volatility index, was down in red on Friday while benchmark indices were trading in red. India VIX was over 2% down.

11:27 (IST)10 Dec 2021
RBI allows LIC to double its holding in IndusInd Bank

The Reserve Bank of India (RBI) has approved India’s largest insurer Life Insurance Corporation (LIC) to double its stake in IndusInd Bank. The state-owned insurance behemoth is now allowed to raise its stake in the private lender to 9.99 per cent. Currently, LIC holds a 4.59 per cent stake in the bank. “We are pleased to inform you that the Bank has received an intimation from the RBI on December 9, 2021, that it has granted its approval to Life Insurance Corporation (LIC), shareholder of the Bank, who holds 4.95% of the total issued and paid up capital of the Bank, to acquire upto 9.99% of the total issued and paid up capital of the Bank,” IndusInd Bank in a regulatory exchange filing on Friday.

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11:08 (IST)10 Dec 2021
Support in 17400-17300 range

“If we take a glance at the overall price movement in last 7 – 8 sessions, markets has been gyrating in a slightly wider range where both ends got tested with immense volatility. So market has decided to take some breather after nearing the cluster of resistance i.e. 17500 – 17600 – 17700. Directionally, we are still a bit skeptical whether market has enough strength to surpass the higher boundary of this range. Hence, one needs to now start lightening up longs if Nifty extends the relief move in the coming session. On the flipside, 17400 followed by 17300 are to be seen as key supports.”

~ Sameet Chavan, Chief Analyst-Technical and Derivatives, Angel One.

11:07 (IST)10 Dec 2021
Rakesh Jhunjhunwala-backed Metro Brands IPO opens today; Should you subscribe?

The initial public offering of ace investor Rakesh Jhunjhunwala-backed footwear retailer Metro Brands Ltd opened for subscription today (10 December), and it will close on 14 December. The price band for the issue has been fixed at Rs 485-500 per share. The public offer comprises fresh equity shares worth Rs 295 crore and an offer for sale (OFS) of 2.14 crore equity shares by promoters and other shareholders. At the upper end of the price band, the public issue is expected to fetch Rs 1,367.5 crore. The company announced on Thursday that it has secured a little over Rs 410 crore from anchor investors ahead of its IPO.

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10:41 (IST)10 Dec 2021
Petrol and diesel price today December 10: Rates remain unchanged; check price in Delhi, Mumbai

Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Lucknow: Petrol, diesel prices remained unchanged on Friday (10 December) across various cities in the country. Fuel prices have remained static for more than a month in various metro cities such as Mumbai and Chennai, as well as, other parts of the country. Currently, the petrol rate in Delhi is Rs 95.41 per litre while diesel in the national capital is retailing at Rs 86.67 per litre. In Mumbai, petrol and diesel are retailing at Rs 109.98 per litre and Rs 94.14 per litre, respectively.

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09:51 (IST)10 Dec 2021
Star Health and Allied Insurance shares list at discount to IPO price, falls over 5% on debut trade

Star Health and Allied Insurance Company shares listed on the stock exchanges today at a discount to IPO price. The stocks began trading at Rs 848 per share, down Rs 51.2 apiece or 5.69% from the issue price of Rs 900 per equity share. The weak listing was on expected lines after the IPO failed to attract interest from investors during its three-day initial share sale earlier this month. Star Health is backed by ace investor Rakesh Jhunjhunwala who owns a 14.98% stake in the private insurance company. On listing, Star Health and Allied Insurance Company had a market capitalization of Rs 48,850 crore. 

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09:22 (IST)10 Dec 2021
Star Health IPO listing day strategy: Premium listing unlikely at this valuation; should you sell, hold, buy?

Rakesh Jhunjhunwala-backed Star Health shares may get a weak listing on stock exchanges today amid high valuation concerns, after muted response to the IPO last week. Even so, analysts advise that investors exit the stock and re-enter at lower levels. Star Health failed to get full subscription for its Rs 7,249-crore IPO — the second-largest this year after Paytm. It later cut the offer for sale (OFS) size to Rs 4,400 crore from Rs 5,249 crore earlier.

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09:17 (IST)10 Dec 2021
OPENING BELL

Domestic benchmark indices started Friday’s trade in the red amid negative global cues. India VIX was up with gains.

09:06 (IST)10 Dec 2021
Sensex, Nifty in red

Sensex and Nifty moved lower during the pre-open session to trade with losses amid negative global cues.

09:00 (IST)10 Dec 2021
Pre-open

Sensex breached 58,900 in pre-open session on Friday morning while Nifty was down in red, giving up 17,500. 

08:54 (IST)10 Dec 2021
17415 followed by 17300 can act as strong support for Nifty

“Equity Mutual Funds witnessed a sharp rise in November amid continuous selling from FII’s. Investors followed a buy in dip strategy and found this correction as a good opportunity to deploy new funds. On the technical front, the key resistance levels for Nifty50 are 17590 followed by 17650 and on the downside 17415 followed by 17300 can act as strong support. Key resistance and support levels for Bank Nifty are 37360 and 36850 respectively,” said Mohit Nigam, Head – Mohit Nigam, Hem Securities.

08:47 (IST)10 Dec 2021
Will Sensex, Nifty sustain rally on week’s last trading day amid weak global cues? 5 things to know

Despite witnessing increased volatility after two days of strong momentum, benchmark indices managed to close the day on Thursday in gains for the 3rd consecutive session. While Nifty and Sensex closed with gains of around 0.3%, the broader market outperformed with the midcap index up 0.6% and smallcap index gaining 1.2%.

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08:39 (IST)10 Dec 2021
Reliance Industries, ITC, TVS Motor, Paytm among stocks in focus today

Sensex and Nifty have now rallied for three consecutive trading sessions. On the charts, Nifty has formed a small negative candle with a long lower shadow, according to Nagaraj Shetti, Technical Research Analyst, HDFC Securities. “Technically, this indicates a formation of long-legged doji type candle pattern. Normally,  a formation of Doji after a reasonable up-move and at the crucial resistances calls for downward correction from the highs,” he added. On the fundamental side, Dalal Street will eye crucial macro data (CPI & IIP), which may further provide some direction to the markets, said Ajit Mishra, VP – Research, Religare Broking.

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08:11 (IST)10 Dec 2021
Some cooling off on cards

“Some cooling off may happen (today) but the weekly setup of Nifty is quote robust and dips can be used as buying opportunities. Nifty supports at 17445 and 17251 while resistance is placed at 17545 and 17650,” said Rahul Sharma, Director & Head – Research, JM Financial.

07:59 (IST)10 Dec 2021
SGX Nifty in red

SGX Nifty was down 12 points on Friday morning, hinting at a weak start to the day’s trade. 

07:59 (IST)10 Dec 2021
Asian markets in red

Shanghai Composite, Hang Seng, Nikkei 225, TOPIX, KOSPI, and KOSDAQ were all down in the red on Friday morning. 

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