Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic stock markets closed with losses on Wednesday. S&P BSE Sensex fell 329 points 0.57% to reach 57,788, while NSE nifty 50 erased 103 points or 0.60% to settle at 17,221. Bank Nifty and broader markets mirrored the fall. India VIX closed above 17 levels, gaining 1.59%. Bajaj Finance was the top Sensex drag, falling 3%, followed by Bajaj Finserv, and Power Grid. On the other hand, Sun Pharma was the top gainer on Sensex, jumping 2.78%, accompanied by Kotak Mahindra Bank, Mahindra & Mahindra, and Maruti Suzuki India.
Benchmark indices closed in the red on Wednesday. Bank Nifty ended 0.28% lower, broader markets followed. India VIX ended 1.59% higher.
ITC share price was down nearly 2% on Wednesday ahead of the closing bell. ITC stock price was trading weak a day after the company held its first Investors day.
PB Fintech, which runs the online insurance marketplace Policybazaar, made a strong debut on the exchanges on Monday to find a place among the country’s most-valued companies. With a market capitalisation of Rs 54,070.33 crore, the fintech player is now the 94th biggest company in the listed space, ahead of JSW Energy, Hero Motocorp, Bosch, Cholamandalam Investment and several others, Bloomberg data showed.
Smallcap indices on NSE were down in the red with minutes left before the closing bell. Smallcap indices were outperforming benchmarks earlier in the day.
Medplus Health Services Limited IPO fully subscribe on day 2 itself and now overall IPO subscribed 1.81 times. The company is receiving a good response from retail investors as retail investor portion subscribed by 3.04 times. As per market reports Grey Market Premium (GMP) is trading at around 26% i.e Rs 210 above issue price, so if investors receive the allotment then expected listing gains will be around Rs 3780 per allotment. Looking at the valuation on the issue price, the company’s IPO is priced at an EV/EBITDA of 27.5 times and price to sales at 2.5 times at the upper price band of the IPO. Which is better than the listed peers. We have assigned a Subscribed rating to the IPO,” said Yash Gupta, Equity Research Analyst, Angel One.
“Stay Light for the event as Nifty is closing below 17,260,” said Rahul Sharma, Director & Head – Research, JM Financial. The technical analyst had earlier said that Nifty could zoom to 17,400 if it holds above 17,260 on today's close.
Smallcap indices on NSE were outperforming benchmark indices on Wednesday. Nifty Smallcap 100 was up 0.35% and the Smallcap 250 was up 0.38%. Nifty 50 was down in red.
HP Adhesives IPO sailed through on the first day of sale with retail investors heavily oversubscribing their portion of the issue. The Rs 126 crore IPO is among a plethora of public issues that have entered Dalal Street this month to raise funds. HP Adhesives is offering shares to investors in a fixed price band of Rs 262-274 per share. Ahead of the IPO, HP Adhesives managed to raise Rs 56.68 crore from just three anchor investors. In the unlisted space there was no trading activity in HP Adhesives shares.
Paytm has launched Paytm Wealth Academy, a tech-powered educational platform for traders and investors. The platform will offer more than 70 courses and webinars available across multiple topics and languages.
ITC share price tumbled more than 1% on Wednesday morning, a day after the cigarette to hospitality major held its first investor day meet. At the investor day, ITC’s management highlighted the growth initiatives taken across divisions and expressed hope of delivering double-digit growth ahead. ITC has not ruled out a demerger of verticals which has been seen as a positive by analysts. So far this year, ITC’s share price has jumped just 5.7%, underperforming the benchmark Nifty 50 index, which is up more than 20%. ITC share price hit an intraday low of Rs 225 per share, down 1.44%.
“As of now, 17200–17100 remains to be strong support; whereas on the flipside, 17400 – 17500 are to be seen as immediate hurdles. Looking at yesterday’s close, we expect this consolidation to continue and in such times, one needs to keep focusing on individual stocks that are likely to provide better trading opportunities,” said Sameet Chavan (Chief Analyst-Technical and Derivatives, Angel One
Nykaa share price rose nearly 5% on Wednesday to trade at Rs 2,119 per share. The company announced that luxurious skincare brand, Elemis will be available for customers to buy at the Globe store on the Nykaa application.
The Union Cabinet is likely to take up a proposal to set up semiconductor mission in the country with an outlay of Rs 76,000 crore. This will be an umbrella mission under which the government will offer incentives to companies for manufacturing semiconductor devices.The incentive structure under the mission will be finalised by ministry of electronics and IT (MeitY) after Cabinet approves it.
India VIX was up more than 3% on Wednesday morning. The volatility index regained 17 levels.
“If Nifty doesn’t break 17260, we may see Nifty heading towards 17400 soon. On the flip side, if this level breaks we may see 17150 being tested post which recovery can come from Friday onwards. Use the dip/volatility to add longs as we expect FII selling to subscribe in the second half of the month,” said Rahul Sharma, Director & Head – Research, JM Financial.
Petrol, diesel prices remained stagnant on Wednesday (13 December) across various cities in the country. It has been more than a month now since petrol and diesel prices have seen any changes, except Delhi where petrol prices fell on December 1 after the Delhi government reduced the Value-Added Tax (VAT) on petrol prices from 30% to 19.40%.
Given the onset of the COVID-19 pandemic and sudden economic slowdown, the Central banks played a crucial role in stabilizing the markets in a multitude way to combat future economic crises through their monetary policy. Thus fiscal policy is the bedrock of any nation’s economy, and everyone from part-time workers to huge financial institutions, both foreign and domestic, are impacted as it shifts. The increase or decrease of the amount of currency, and credit in circulation, in a continuing effort to keep inflation, growth, and employment on track is guarded by their very decisions.
The market is facing resistance at higher levels. The upside is currently capped at 17600 and until we do not close above this level, the bias is on the sell-side. At the current juncture, 17150-17250 is an important zone; if we break this on a closing basis, we could see a sharp correction.
~ Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments
ITC's shares rose in early trade on December 15 after the company discussed taxation on cigarette business, demerger plans and the strategy for the FMCG business in its first ever investor meet on December 14. In the investor meet, ITC’s top management stressed that the health ministry makes regular recommendations annually, as it tried to allay concerns about higher taxation on its mainstay cigarettes business
Paytm's shares tumbled over 13% as a lock-in period for the company's institutional investors ended on Wednesday, piling more pressure after a dismal debut last month. Paytm shares were trading 38% lower from issue price.
We expect, index to extend the ongoing consolidation amid stock specific action. Hence use dip towards 17248-17273 for creating long position for target of 17365.
~ ICICI Direct
Indian equity markets extended losses on Tuesday for the third consecutive session as investors and traders await the outcome of the Federal Reserve meeting to be announced today (15 December). The BSE Sensex declined 166.33 points to 58,117, while the Nifty50 slipped to 17,325 and formed a bullish candle on the daily charts. SGX indicated that benchmark indices are likely to open on a subdued note on Wednesday as well. Nifty futures on the Singapore Exchange-traded 6.5 point, or 0.04 per cent, lower at 17,326.50, signalling that Dalal Street was headed for a flat start.
Domestic markets continued to slip on Tuesday as bears tightened their grip on Dalal Street. On the charts, a small positive candle was formed at the lows with minor upper and lower shadow, said Nagaraj Shetti, Technical Research Analyst, HDFC Securities. “Technically, this pattern indicates a formation of high wave-type candle patterns. Normally, such a pattern after a reasonable weakness alerts for trend reversal. Confirmation is required for the reversal pattern,” he added. Resistance for the broader Nifty 50 is around 17500 and next 17650 levels. Immediate support is placed at 17200 levels.
Sensex was down 8 points in the pre-open session while NSE Nifty 50 was down 1 point as headline indices traded flat with negative bias during the pre-open session.
The Nifty volatility skew is less than 3, plus the India VIX increased, indicating trader sentiment is bearish. And strike wise PCR OI of 17300 fell to 0.90 vs 1, indicating call writing. So, as long as the 17410 support is held on a closing basis, the index eventually head to challenge its high put OI of 17000 over the short-term, as the market's cost-of-carry is down on the back of fresh short additions
For the coming session, the trading spot band is between 17410 and 17190, which means further upsides are likely once the immediate resistances of 17410 are taken out and weakness could emerge if the supports of 17190 are broken.
~ Raushan Kumar, Derivative Analyst, IIFL Securities
SGX Nifty was down in red on Wednesday morning, trading with marginal losses. Nifty futures down in red, hint at a weak start for domestic markets.
The wholesale price index (WP)I) inflation stood at 14.2% in the month of November on an annual basis, compared with a rise of 12.5% in October. With this sharp jump, the WPI inflation is now at a 12-year high. On the other hand, retail inflation, which was released earlier this week, came in at 4.91%.