Stock Market HIGHLIGHTS: Sensex, Nifty end flat as Reliance plays spoilsport; Hindalco, Tata Steel top gainers
Stock Markets HIGHLIGHTS: Indian stock markets traded in a range on Monday with frontline indices ending flat. The 30-stock S&P BSE Sensex closed at 62,834.60, down 33.9 points or 0.05 per cent while NSE Nifty50 managed a positive closing at 18,701.05, up 5 points or 0.03 per cent. Banking gauge Nifty Bank settled positive at 43,332.95, up 229.20 points 0.53 per cent.
Here are key takeaways from the day's action:
1) In the 50-stock index, 27 advanced while 23 declined. Among top gainers were metal stocks led by Hindalco Industries, JSW Steel and Tata Steel. UPL and ONGC were also other gainers on the 50-stock Nifty50 index. Among the top losers were Tata Motors, Apollo Hospitals, Reliance Industries, Britannia Industries and Tech Mahindra. Reliance was the biggest laggard and accounted for a lion share towards the fall of benchmark indices.
2) Out of 15 Nifty sectoral indices, 7 gained against 8 declines. Metal shares gained owing to the weakness in Dollar Index which has slipped below 105 against the basket of six major currencies. Nifty Metal Index was up 1.87 per cent followed by Nifty PSU Bank (+1.20 per cent) and Nifty Realty (+0.69 per cent). The laggards were Nifty Auto (- 0.30 per cent), Nifty IT (- 0.52 per cent) and Nifty Healthcare Index (-0.43 per cent).
3) INDIA VIX, a measure of volatility in Nifty stood at 13.73, up 2.10 per cent from the Friday closing level.
4) Stock specific action was seen in broader markets with Nifty Mid Cap 100 closing at 32,646.95, up 0.25 per cent. The top gainers were M&M Finance and AB Capital. The top losers were BHEL and Dalmia Bharat as 50 stocks managed a positive closing against 48 declines and 2 stocks remining unmoved.
5) 53 stocks advanced against 46 declines while 1 remained unchanged in the 100-stock Nifty Small Cap 100. The top gainers were Suzlon and Sobha while top losers were Brightcom Group and Angel One.
6) Out of 3,660 stocks that traded on BSE, advances were 2,151 while declines were 1,318 while 191 stocks remained unchanged. 152 stocks hit 52-week highs while 19 hit their 52-week lows.
7) Dow 30 Futures were trading at 34,313, down 116.90 points or 0.34 per cent while Singapore-based SGX Nifty was trading at 18,810, down 14.5 points or 0.08 per cent.
8) Rupee falls 47 paise to close at 81.80 (provisional) against US dollar.
9) February Gold futures were trading at Rs 54090 on MCX, up Rs 240 or 0.45 per cent. Meanwhile, March Silver futures were trading at Rs 66886, up Rs 437 or 0.66 per cent.
10) US benchmark crude oil picked up 55 cents to $80.53 per barrel in electronic trading on the New York Mercantile Exchange. It lost $1.24 to $79.98 per barrel on Friday. Brent crude added 56 cents to $86.13 per barrel after Western countries on Monday began imposing the $60-per-barrel price cap and ban on some types of Russian oil.
You can catch all the market related updates at Zeebiz.com along with other top news from business, politics, tech, auto and more.
Stock Markets HIGHLIGHTS: Indian stock markets traded in a range on Monday with frontline indices ending flat. The 30-stock S&P BSE Sensex closed at 62,834.60, down 33.9 points or 0.05 per cent while NSE Nifty50 managed a positive closing at 18,701.05, up 5 points or 0.03 per cent. Banking gauge Nifty Bank settled positive at 43,332.95, up 229.20 points 0.53 per cent.
Here are key takeaways from the day's action:
1) In the 50-stock index, 27 advanced while 23 declined. Among top gainers were metal stocks led by Hindalco Industries, JSW Steel and Tata Steel. UPL and ONGC were also other gainers on the 50-stock Nifty50 index. Among the top losers were Tata Motors, Apollo Hospitals, Reliance Industries, Britannia Industries and Tech Mahindra. Reliance was the biggest laggard and accounted for a lion share towards the fall of benchmark indices.
2) Out of 15 Nifty sectoral indices, 7 gained against 8 declines. Metal shares gained owing to the weakness in Dollar Index which has slipped below 105 against the basket of six major currencies. Nifty Metal Index was up 1.87 per cent followed by Nifty PSU Bank (+1.20 per cent) and Nifty Realty (+0.69 per cent). The laggards were Nifty Auto (- 0.30 per cent), Nifty IT (- 0.52 per cent) and Nifty Healthcare Index (-0.43 per cent).
3) INDIA VIX, a measure of volatility in Nifty stood at 13.73, up 2.10 per cent from the Friday closing level.
4) Stock specific action was seen in broader markets with Nifty Mid Cap 100 closing at 32,646.95, up 0.25 per cent. The top gainers were M&M Finance and AB Capital. The top losers were BHEL and Dalmia Bharat as 50 stocks managed a positive closing against 48 declines and 2 stocks remining unmoved.
5) 53 stocks advanced against 46 declines while 1 remained unchanged in the 100-stock Nifty Small Cap 100. The top gainers were Suzlon and Sobha while top losers were Brightcom Group and Angel One.
6) Out of 3,660 stocks that traded on BSE, advances were 2,151 while declines were 1,318 while 191 stocks remained unchanged. 152 stocks hit 52-week highs while 19 hit their 52-week lows.
7) Dow 30 Futures were trading at 34,313, down 116.90 points or 0.34 per cent while Singapore-based SGX Nifty was trading at 18,810, down 14.5 points or 0.08 per cent.
8) Rupee falls 47 paise to close at 81.80 (provisional) against US dollar.
9) February Gold futures were trading at Rs 54090 on MCX, up Rs 240 or 0.45 per cent. Meanwhile, March Silver futures were trading at Rs 66886, up Rs 437 or 0.66 per cent.
10) US benchmark crude oil picked up 55 cents to $80.53 per barrel in electronic trading on the New York Mercantile Exchange. It lost $1.24 to $79.98 per barrel on Friday. Brent crude added 56 cents to $86.13 per barrel after Western countries on Monday began imposing the $60-per-barrel price cap and ban on some types of Russian oil.
You can catch all the market related updates at Zeebiz.com along with other top news from business, politics, tech, auto and more.
Latest Updates
Markets LIVE: PSU Bank stocks in action
PSU Bank stocks were in action today with Punjab & Sind Bank emerging as a top gainer in the pack. The stock gained nearly 7 per cent intraday followed by Punjab National Bank (PNB) and State Bank of India. In the 12 stock index, 11 advanced against 1 decline.
Source: NSE
Brokerage view on Voltas, Paytm
CLSA on Voltas (CMP: 855)
Upgrade to Outperform from Sell, Target raised to 935 from 870
Morgan Stanley on Muthoot Finance (CMP: 1136)
Initiate Equalweight, T,arget 1150
Citi on Paytm (CMP: 537)
Maintain Buy, Target 1055
(Disclaimer: The views/suggestions/advises expressed here in this article is solely by investment experts. Zee Business suggests its readers to consult with their investment advisers before making any financial decision.)
Stock to Buy: ICICI Bank - What brokerages say about this stock?
CICI Bank is expected to improve its market share in high margin verticals and is a fit candidate for re-ratings over next few years, Morgan Stanley said in a note. This brokerage firm remains ‘Overweight’ on ICICI Bank stock estimating up to Rs 320 per share gains.
The bank derives its revenues majorly from retail banking, wholesale banking, treasury, life insurance and other banking and allied activities.
The stocks was recommended at a price of Rs 931 with a target of Rs 1250. The upside is 34 per cent.
ICICI Bank shares were trading at Rs 931.55 on the NSE and were up 0.10 per cent from the last closing price.
Read More: Morgan Stanley upbeat on ICICI Bank, sees Rs 320 gain per share
Sensex Live - Top Index Contributors
Source: NSE
Global Markets at a Glance
Among frontline Asian indices, NIKKEI 225 ended at 27,806.40, up 28.49 or 0.10 per cent while Shanghai Composite ended at 3,209.30, up 53.15 points or 1.68 per cent.
Source: NSE
Markets Live: Gold shines amid weaker Dollar index
While metal stocks were clear winners in the otherwise lacklustre trading session on Monday, gold as a commodity gained in the intraday trade. Kalyan Jewellers India shares were trading at Rs 115.15 on the NSE and were up by Rs 5.40 per share or 4.92 per cent.
Meanwhile, Titan shares were trading at Rs 2,612.30, down 5.60 or 0.21 per cent.
Manappuram Finance shares were also trading with a positive bias around this time at Rs 125.50, up by Rs 6.10 or 5.11 per cent.
Commodity Markets - Gold trading strategy
Gold prices rallied last week and settled above USD 1790 for the first time in six months, Deveya Gaglani, Research Analyst, Axis Securities said. The correction in the dollar index supported bullion price, he said adding that the dollar index has slipped below the USD 105 level for the first time in six months.
"As Fed chairman indicated that they will adopt a dovish stance when it comes to hiking the rate as soon as in the month of December itself. Gold price is glittering again and it has regained its safe-haven appeal prices are all set to touch a new high next year. A strong resistance zone is seen around the USD1820 level. Breakout and sustained buying above the mentioned level may push prices higher toward the USD1860 level in the coming weeks. A strong support zone is seen around the USD1760 level," he further said.
(Disclaimer: The views/suggestions/advises expressed here in this article is solely by investment experts. Zee Business suggests its readers to consult with their investment advisers before making any financial decision.)
Markets Live: Sensex and Nifty widened their losses as the former was trading at 62,544.92, down 323.58 points or 0.51 per cent while Nifty50 slipped below 18600 as Reliance Industries and HDFC Bank shares triggered the fall in the bench mark indices.
Nifty Metal Live - Metal index was the clear wnner among its other sectoral indices.
Markets Live - Nifty Sectoral Indices
Source: NSE
Source: NSE
Sensex Live - Top Gainers and Losers
Nifty Live - Chart Movement
Source: NSE
Nifty Live - Top Gainers and Losers
Source: NSE
Commodity Markets Live - Gold, Silver begin positive
Rupee Vs dollar - INR opens with gains against greenback
