Share Market News Today | Sensex, Nifty, Share Prices HIGHLIGHTS: Domestic equity market benchmark indices BSE Sensex and Nifty 50 ended higher for the second straight day on Tuesday. BSE Sensex ended 477.24 points or 0.83 per cent higher at 57,897.48, while Nifty 50 index surged 147 points or 0.86 to settle at 17233.25. Asian Paints, Sun Pharma, Mahindra & Mahindra (M&M), NTPC, UltraTech Cement, Titan Company, Reliance Industries Ltd (RIL), HCL Tech, ITC, were among top index leaders. On the contrary, IndusInd Bank and PowerGrid Corporation of India were the only losers on the 30-share Sensex pack. All the sectoral indices ended in the positive territory on Tuesday. Bank Nifty was up 0.36 per cent, and Nifty Auto index jumped 1.34 per cent.
Sensex ended 477.24 points or 0.83 per cent higher at 57,897.48, while Nifty 50 index surged 147 points or 0.86 to settle at 17233.25
NSE Nifty 50 bull-run is far from over as the new year 2022 dawns on Dalal Street. The Nifty index may hit 21,000 points in the upcoming calendar year, ICICI Direct said, drawing conclusions from previous bull-runs. “Going by the history of three decades, we expect the ongoing bull market to extend for the next few years with multifold gains,” the brokerage firm said in a report. Nifty 50 has zoomed more than 21% so far this year and the set target would imply an upside of 22% from today’s opening levels.
CMS Info Systems will finalise the share allotment by Tuesday, December 28, 2021, per the timeline provided in the red herring prospectus (RHP). The initial public offering (IPO) of the cash management company was subscribed 1.95 times from December 21-23, 2021. CMS Info Systems IPO, price band for which was fixed at Rs 205-216 per share, received bids of over 7.32 crore shares against the total issue size of over 3.75 crore shares, according to the data available with the National Stock Exchange (NSE).
The year 2021 has proved to be the best year for Indian primary markets, with a total of 63 companies collectively raising Rs 1.18 lakh crore through IPOs, the highest amount raised through public issues in a single calendar year. Shrugging off the COVID-19 concerns especially during the first quarter of the current fiscal of 2021-22, the year also witnessed the public issues by internet companies such as Paytm, Zomato, Nykaa, Policybazaar, among others.
Supriya Lifescience, a pharma API manufacturer, made a stellar debut with 55% gains, listing at Rs425/share against IPO price of Rs274, amidst positive market sentiments. It has a niche product portfolio of 38 APIs with focus primarily on diverse therapeutic areas. It has consistently been India’s largest exporter of certain niche products with well-balanced presence between regulated and semi/non-regulated markets. We like Supriya for its niche product portfolio, backward integrated business model and robust financials. It is well placed to tap opportunity in the pharma API market given its strong pipeline focused on further diversification.
Sneha Poddar, AVP Retail Research, Motilal Oswal Financial Services
The performance of INR has been one of the worst among its Asian peers. RBI intervention, inflation trajectory, movement of crude prices, and pace of liquidity unwinding by global central banks will guide the INR in the short to medium term.
Nish Bhatt, Founder & CEO, Millwood Kane International
One of the major factors for the decline in Indian rupee was the eminent liquidity tapering by the US Fed and other central banks. FIIs have pulled out over Rs 30,000 cr from the Indian equity market leading to some nervousness in the key indices as it trades a few percentage points below its all-time high. The concerns of liquidity tapering and rising inflation make it tough for central banks to stay put with Accommodative policy, the scenario will force liquidity tightening & rate hikes by the RBI somewhere in 2022, its effect is already reflected in the performance of the INR. Nish Bhatt, Founder & CEO, Millwood Kane International
The Indian rupee will end the year on a weaker note against the dollar for another year. Historically, the rupee has depreciated against the dollar in the range of 1-3% YoY, and this year was no different, the INR depreciated almost 2% vs the USD. The rupee traded in the range of 72.263-76.419, the rupee has recovered somewhat from the lowest level witnessed earlier in the month. Nish Bhatt, Founder & CEO, Millwood Kane International
“On the technical front immediate support and resistance for Nifty are 17000 and 17300 respectively. For Bank Nifty 34500 and 35500 are immediate support and resistance respectively,” said Mohit Nigam, Head – PMS, Hem Securities.
Our research suggests that the levels of 17100 may act as important levels in the market. If the market sustained the levels of 17100,We can expect the market to trade in the range of 17100-17400. Technical indicators also support positivity in the market.
Gaurav Garg, Head of Research, CapitalVia Global Research
Gold Price Today, Gold Price Outlook, Gold Price Forecast: Gold prices were trading higher in India on Tuesday, even as global rates remained steady. On Multi Commodity Exchange, gold February futures were trading Rs 104 or 0.22 per cent up at Rs 48,170 per 10 grams, as against the previous close of Rs 48,066. Silver March futures were ruling at Rs 62,415 per kg, up Rs 114 or 0.18 per cent on MCX. In the previous session, silver futures ended at Rs 62,301 per kg. Globally, yellow metal prices remained steady at near one-week high hit in the previous session as the US dollar and Treasury yields, key influences on bullion prices, were largely flat.
Supriya Lifescience shares made a bumper listing on stock exchanges today amid positive market sentiment. Shares of the active pharmaceuticals ingredients (API) manufacturer started trading at Rs 425 per share, 55.11% or Rs 151 apiece higher than the upper end of the price band of Rs 274 per share. The Rs 700 crore public issue of Supriya Lifescience was a mix of fresh issuance of equity shares and an offer for sale (OFS) by existing shareholders. The company is a manufacturer and supplier of APIs, with a focus on research and development. Supriya Lifescience had a market capitalization of Rs 3,420 crore on opening.
All the sectoral indices were trading in the positive territory on Tuesday. Nifty Bank index was up over half a per cent and Nifty Consumer Durables gained nearly one per cent
Dr Reddy's Laboratories, Bharti Airtel were the only two laggards on the index
HCL Tech, Asian Paints, PowerGrid Corporation of India, Axis Bank, Reliance Industries Ltd (RIL), Tech Mahindra were among top BSE Sensex gainers
BSE Sensex gained 400 points to 57,811, and Nifty 50 was up 115 points to 17,200 on the back of positive global cues on Tuesday
BSE Sensex gained 300 points to 57,724, and Nifty 50 was down 15 points to 17,070 in the pre-opening session on Tuesday
The short term trend of Nifty is slightly positive amidst a range movement. Further upside from here could encounter strong overhead resistance around 17200-17300 levels in the next few sessions and one may expect sell on rise opportunity. Immediate support is placed at 16930 levels.
Nagaraj Shetti, Technical Research Analyst, HDFC Securities
The markets were able to close well in the green on Monday despite opening with a gap down. However, we have not been able to close above the resistance of 17200-17300. Until that does not happen, we cannot rule out a U-turn from the current juncture. If we get past that resistance patch, we can summarize that the short-term weakness has been done with and we are resuming the long-term uptrend.
Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments
Global markets started the week on a soft note due trading holiday in various regions. FII selling has reduced sharply over the last few days due to the festive holidays. “Markets are expected to remain sideways until the end of the year due to lack of triggers. Q3 results season and build up to the upcoming budget session would be key events that the market would be looking for in Jan 2022,” said Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services Ltd.
The VWAP of December series is placed near 17175. Thus a move above 17200 should trigger short covering in the markets. For the coming session, the trading spot band is between 17200 and 16800,which means further upsides are likely once the immediate resistances of 17200 are taken out and weakness could emerge if the supports of 16800 are broken.
Raushan Kumar, Derivative Analyst, IIFL Securities
The short-term view remains bearish. The Nifty has to rise past 17500-17600 to turn the outlook bullish. The chances are high to test 16500-16400 in coming days.
Raushan Kumar, Derivative Analyst, IIFL Securities
Nifty lacked follow-through on the sell-side and most importantly, recouped all its losses and finished with decent gains led by fresh buying in select pharma and private banking shares. Bulls hold the rein despite FIIs selling, spiking inflation, a hawkish Fed, and overvaluation concerns. Technically, all aggressive bullish eyes will be on Nifty’s biggest inter-week hurdles at the 17247-17389 zone. If Nifty powers higher above the 17389 mark, then expect — it will be again all roses for our stock markets. The make-or-break support on Nifty is seen at the 16663 mark. Key supports for Tuesday’s trade are placed at the 16833 mark.
Prashanth Tapse, Vice President (Research), Mehta Equities
Supriya Lifesciences, another good company from the API segment garnered lots of investors' interest on the back of strong financials and attractive valuations. We are expecting a strong listing of this company as market sentiments have improved and the IPO witnessed strong subscription numbers. The grey market is indicating a listing gain of more than 50%.
Aayush Agrawal, Senior Analyst, Swastika Investmart
US stocks rose in Monday's session, as investors started trading after Christmas holiday. The Dow Jones Industrial Average added 1%, the Nasdaq Composite ticked up 1.4%, and S&P500 index gained 1.4 per cent.
Asian stock markets rose after the S&P500 closed at new record overnight. Japan’s Nikkei 225 gained 1.07 per cent while the Topix index advanced nearly one percent. Stock markets in Australia were closed on Tuesday for a holiday.
Nifty futures were trading at 17193.50, up 87.50 points or 0.51 per cent on Singaporean Exchange
Supriya Lifescience shares will make their stock market debut on Tuesday, 28 December 2021.