Share Market Highlights: Sensex ends 113 pts higher at 57901, Nifty closes at 17248; Infosys, RIL among top gainers

Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic markets closed with gains on Thursday. India VIX fell 7.67%.

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iNDIA vix was in the red. (Image: REUTERS)

Share Market News Today | Sensex, Nifty, Share Prices LIVE: Dalal Street benchmark indices closed with gains after Thursday’s futures & options expiry session. S&P BSE Sensex closed 113 points or 0.20% higher at 57,901 while NSE Nifty 50 ended 27 points or 0.16% higher at 17,248. Bank Nifty closed 0.65% lower along with smallcap and midcap indices. The top gainer on Sensex was Bajaj Finance, gaining 2.6%, followed by Infosys, Titan, and Reliance Industries. Maruti Suzuki India was down 1.5% as the top Sensex laggard, followed by ICICI Bank, Bajaj Auto, and Sun Pharma.

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4:38 (IST) 16 Dec 2021
Sensex snaps 4-day losing streak, Nifty ends above 17180-17200 support, charts suggest upside bounce

Benchmark indices snapped their four-day losing streak on Thursday helped by index heavyweights such as Infosys and Reliance Industries. S&P BSE Sensex closed 113 points or 0.20% higher at 57,901 while NSE Nifty 50 ended 27 points or 0.16% higher at 17,248. Broader markets underperformed and closed with losses. Bank Nifty ended 0.65% lower while India VIX fell over 7%. Bajaj Finance gained 2.6%, followed by Infosys, Titan, and RIL. Maruti Suzuki India was down 1.5% as the top Sensex laggard, followed by ICICI Bank, Bajaj Auto, and Sun Pharma.

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4:04 (IST) 16 Dec 2021

Domestic markets closed with gains on Thursday, helped by buying the closing minutes of trade. India VIX fell 7.67%.

2:49 (IST) 16 Dec 2021
Pullback above 17330 will lend positive bias

The 17175-17430 region continues to be in focus, with yesterday’s trades focussing on the lower half of this range. Pull back above 17330 will lend a positive bias, and though directional trades may not take off until the 17175-430 band is taken out, our bias within this construct is tilted towards upsides, and poised for a break of 17700-780 region first.

~ Geojit Financial Services

2:30 (IST) 16 Dec 2021
CMS Info Systems sets IPO price band at Rs 205-216/ share

Cash management company CMS Info Systems has fixed a price band of Rs 205-216 a share for its Rs 1,100-crore initial public offering (IPO). The initial share-sale will be open for public subscription during December 21-23.The bidding for anchor investors will open on December 20, according to the company. The company has cut its IPO size to Rs 1,100 crore from Rs 2,000 crore earlier.

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2:17 (IST) 16 Dec 2021
Nifty IT in green

The Nifty IT index was up with gains on Thursday while all other sectoral indices traded with losses.

1:57 (IST) 16 Dec 2021
Rakesh Jhunjhunwala gains 421% on this stock, on which IPO investors lose 10%

Rakesh Jhunjhunwala has earned a staggering Rs 5,418 crore or 421% profit from his investment in the newly listed Star Health and Allied Insurance Company. On the other hand, IPO investors holding shares of the private insurer have suffered a 10% loss on their investment. Big bull Rakesh Jhunjhunwala is a promoter in Star Health and Allied Insurance, along with Safecrop Investments India and Westbridge AIF. Big Bull Jhunjhunwala owns a 14.98% stake in Star Health or a total of 8.28 crore equity shares. Star Health and Allied Insurance Company’s share closed at Rs 809 per share on Wednesday, down from the IPO price of Rs 900 apiece.

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1:05 (IST) 16 Dec 2021
India VIX down in red

India VIX, the volatility gauge, was down more than 6% on Thursday, slipping below 17 levels.

12:35 (IST) 16 Dec 2021
Support in 17200 – 17100 range

“Market seems a bit nervous as we are continuously seeing selling pressure at higher levels. But they are also not falling like a bottomless pit, which is creating ambiguity among the traders. Such sessions are difficult to trade because the moment you tend to gain some confidence of the direction, it immediately reverses. In our sense, next couple of sessions would be crucial and although our directional view remains cautious, we would be closely tracking how things pan out. Meanwhile, 17200 – 17100 are to be seen as key supports and 17300 – 17350 should be treated as important hurdles,” said Sameet Chavan, Chief Analyst-Technical and Derivatives, Angel One.

10:26 (IST) 16 Dec 2021
Buy any dip from here

We believe, the Nifty has undergone a strong base formation around 16800-17000 zone after completing price-wise correction of 10% from life highs of 18600. Currently, index is approaching maturity of time-wise correction as we approach the 9th week of correction, that makes us believe, index would gradually resolve out of upper band of consolidation placed at 17500 and eventually head towards psychological mark of 18000 in coming weeks. Therefore, any dip from here on should be capitalised as incremental buying opportunity to accumulate quality stocks. Our projection of target of 18000 is confluence of: a) 61.8% retracement of entire decline since October high (18600-16782) is placed at 16900 b) Implicated target of past two weeks consolidation (17500-16900) is placed around 18000.

~ ICICI Direct

10:03 (IST) 16 Dec 2021

“Fed decided to taper the bond tapering with double pace and end it in early 2022 and faster rate hikes. However, their bullishness about the US economy and employment has comforted the traders. These factors will definitely put a pressure on Gold prices but it’s expected to be in sideways zone as the fear of Omicron is still riding the markets. Buy Zone Above – 48100 for the target of 48350 Sell Zone Below – 47900 for the target of 47600,” said Ravi Singh,Vice President & Head of Research, ShareIndia.

9:52 (IST) 16 Dec 2021
Nifty needs to close above 17500-17600 for an uptrend to emerge

“Even though the Nifty has opened with a gap up, it is imperative for it to close above 17500-17600 for an uptrend to emerge. Until then it would be sideways with a downward bias. 17100-17150 is the support patch that needs to hold as a break that would signal the resumption of the bear trend,” said Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments.

9:30 (IST) 16 Dec 2021

“The Nifty volatility skew is less than 3, plus the India VIX increased, indicating trader sentiment is bearish. As long as the index below 17410 on a closing basis, the index eventually heads to challenge its high put OI of 17000 over the short-term, as market's cost-of-carry is down on the back of fresh short additions. The Nifty weekly highest Call base is still placed at 17400-17500, which remains an immediate hurdle. The highest Put base is still placed at 17150-17200, which remains support. For the coming session, the trading spot band is between 17410 and 17160, which means further upsides are likely once the immediate resistances of 17410 are taken out and weakness could emerge if the supports of 17160 are broken.”

~ Raushan Kumar, Derivative Analyst, IIFL Securities

9:21 (IST) 16 Dec 2021

Domestic markets started Thursday’s session in the green amid positive global cues. Bank Nifty regained 37,000.

9:05 (IST) 16 Dec 2021
Buy these two stocks for medium-term gains while Nifty remains in downtrend

Over the last few weeks, the Nifty has been in correction mode. The downtrend was confirmed when the support of 17613 was broken. On the daily chart, we see that Nifty remains in a downtrend despite the bounces seen recently. The index continues to make lower tops and lower bottoms for the last few weeks, barring the recent brief move above the swing high of 17490. The 20 day SMA also continues to trade below the 50 day SMA, indicating a negative moving average crossover. Weekly momentum readings like the 14-week RSI are in decline mode. 

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9:02 (IST) 16 Dec 2021

Sensex regains 58,100 in pre-open session, Nifty 50 hovers around 17,250.

8:46 (IST) 16 Dec 2021
ICICI Bank, Vodafone Idea, Sun Pharma, Jubilant Industries among stocks in focus today

Domestic markets are likely to follow global cues on Thursday and move north based on the US Fed outcome. Meanwhile, on the charts, Nifty 50 is close to the support levels. “For the coming session, initial support will be seen around 17170 which is 61.8% of the recent up move followed by trend line support around 17100-17050 range. If the market manages to show recovery from the mentioned support zones, then we could see short covering which could lead the markets higher,” said Ruchit Jain, Trading Strategist, 5paisa

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8:24 (IST) 16 Dec 2021
Nifty to continue trading weak below 17350, Bank Nifty needs to regain 37000 for up-move

Nifty 50 index opened flattish on Wednesday but failed to surpass 17350 zones and drifted towards 17200 zones in the last hour of the session. It showed signs of meekness as it could not surpass its key hurdle of 17350 levels and finally closed with losses of around 100 points. It formed a Bearish candle on a daily scale and closed below its 100 SMA.

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8:08 (IST) 16 Dec 2021
Nifty could open sharply higher or lower

Nifty closed down after a promising morning session, selling off ahead of the crucial US Fed meet later in the day. In the process, it closed below the upgap created on Dec 08 and nullified the effect of the near doji formation on the previous day. Nifty could open sharply higher or lower on Dec 16 based on the outcome of the US Fed meet. 17054-17405 could be the band for the Nifty over the next few sessions, a breach of which could lead to accelerated move in that direction.

~ Deepak Jasani, Head of Retail Research, HDFC Securities

8:06 (IST) 16 Dec 2021
Bulls to be back if Nifty holds 17,193

“Expect some respite for bulls if 17,193 is not broken in the first hour, we may see short covering. If we cross 17,375 decisively by today/tomorrow, expect market weakness to be over. Bank Nifty breakout level placed at 37,050 while crucial support is placed at 36,700,” said Rahul Sharma, Director & Head – Research, JM Financial.

8:02 (IST) 16 Dec 2021
SGX Nifty in green

SGX Nifty was sitting in the green on Thursday morning, hinting at a positive start to the day's trade. SGX Nifty was up more than 80 points.

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