Stock Market HIGHLIGHTS: Sensex, Nifty end positive for 2nd day in row; HDFC Life, SBI Life top gainers
Stock Market HIGHLIGHTS: Indian stock markets S&P BSE Sensex and Nifty50 ended Tuesday on a strong note. Both indices registered their second consecutive gains today. Sensex closed at 61,294.20 and was up by 126.41 points or 0.21 per cent, the broader market Nifty50 finished at 18,232.55, up 35.10 points or 0.19 per cent. Banking gauge Nifty Bank settled 222 points or 0.51 per cent higher at 43,425.25.
Here are top highlights from the day's action:
1) In the 50-stock index, 26 stocks advanced with HDFC Life, SBI Life, Axis Bank, Titan and TCS ending day as top gainers while Hindalco Industries, JSW Steel, Britannia Industries, Mahindra & Mahindra and Reliance Industries were top losers.
2) Out of 15 Nifty sectoral indices, 4 ended in the red against 11 gainers. The top performing indices were Nifty Consumer Durables (+1.29 per cent), Nifty Healthcare Index (+0.83 per cent) and Nifty Pharma and Nifty PSU Bank which were up 0.72 per cent, each.
3) There was stock specific action in broader markets in broader markets. Nifty Mid Cap 100 closed at 31,860.35, up 73.90 points or 0.23 per cent. In the 100-stock index, 63 advanced, 34 declined while 3 remained unchanged. The winners were Power Finance Corporation, Max Financial Services and Bank of India while losers were Mahindra & Mahindra Finance, TVS Motor Company and Shriram Finance.
4) In the 100-stock Small Cap index, advances were seen in 57 scrips, declines in 41 while 2 remained unchanged. The top gainers were Maharashtra Bank, Mazagon Dock Shipyard and Metropolis while top losers were Indiabulls Housing Finance, KEC and Elgi Equipments.
5) India VIX, a measure of volatility in Nifty, was down over 2 per cent at 14.39.
6) Out of 3,665 stocks that traded on BSE, 2,028 advanced, 1,494 declined while 143 unchanged. The number of stocks that hit their 52-week highs were 119 while 20 stocks hit their 52-week lows.
7) The rupee pared initial gains and settled 8 paise lower at 82.86 (provisional) against the US dollar on Tuesday, weighed by a strong greenback overseas and sustained foreign fund outflows. At the interbank foreign exchange market, the rupee opened on a positive note at 82.69 against the greenback, but pared the gains and fell to an intra-day low of 82.92. The domestic currency finally settled at 82.86, down 8 paise over its previous close of 82.78. The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 1 per cent higher at 104.55. Dollar index rose to 104.53 while brent oil was at USD 85.44 per barrel. Asian currencies are also weaker against dollar though Yuan was at 6.91, stable. The range for tomorrow is expected to be 82.50 to 83.20 with a risk to the upside. S/L for importers to be kept at 83.05," he added.
8) Singapore-based SGX Nifty was trading at 18,306, up 83 points or 0.46 per cent while Dow 30 Futures were also up 263 points or 0.80 per cent at 33,411 as US markets began trading after a long New Year break.
9) Among Asian benchmark indices, China's Shanghai Composite today ended at 3,116.51, up 27.25 points or 0.88 per cent. South Korea's Kospi settled at 2218.68, down 0.31 per cent. Japanese Nikkei is closed today.
10) Gold and Silver futures were trading with strength on MCX. February Gold futures were trading at Rs 55,530, up by Rs 352 or 0.64 per cent per 10 gram while March Silver futures were trading at Rs 70718, up 1147 or 1.65 per cent. Gold is at 30-month high level while Silver futures at 10-month high. 352 0.64
Catch all the updates here. For all other news related to business, politics, tech, sports, auto and others visit Zeebiz.com.
Stock Market HIGHLIGHTS: Indian stock markets S&P BSE Sensex and Nifty50 ended Tuesday on a strong note. Both indices registered their second consecutive gains today. Sensex closed at 61,294.20 and was up by 126.41 points or 0.21 per cent, the broader market Nifty50 finished at 18,232.55, up 35.10 points or 0.19 per cent. Banking gauge Nifty Bank settled 222 points or 0.51 per cent higher at 43,425.25.
Here are top highlights from the day's action:
1) In the 50-stock index, 26 stocks advanced with HDFC Life, SBI Life, Axis Bank, Titan and TCS ending day as top gainers while Hindalco Industries, JSW Steel, Britannia Industries, Mahindra & Mahindra and Reliance Industries were top losers.
2) Out of 15 Nifty sectoral indices, 4 ended in the red against 11 gainers. The top performing indices were Nifty Consumer Durables (+1.29 per cent), Nifty Healthcare Index (+0.83 per cent) and Nifty Pharma and Nifty PSU Bank which were up 0.72 per cent, each.
3) There was stock specific action in broader markets in broader markets. Nifty Mid Cap 100 closed at 31,860.35, up 73.90 points or 0.23 per cent. In the 100-stock index, 63 advanced, 34 declined while 3 remained unchanged. The winners were Power Finance Corporation, Max Financial Services and Bank of India while losers were Mahindra & Mahindra Finance, TVS Motor Company and Shriram Finance.
4) In the 100-stock Small Cap index, advances were seen in 57 scrips, declines in 41 while 2 remained unchanged. The top gainers were Maharashtra Bank, Mazagon Dock Shipyard and Metropolis while top losers were Indiabulls Housing Finance, KEC and Elgi Equipments.
5) India VIX, a measure of volatility in Nifty, was down over 2 per cent at 14.39.
6) Out of 3,665 stocks that traded on BSE, 2,028 advanced, 1,494 declined while 143 unchanged. The number of stocks that hit their 52-week highs were 119 while 20 stocks hit their 52-week lows.
7) The rupee pared initial gains and settled 8 paise lower at 82.86 (provisional) against the US dollar on Tuesday, weighed by a strong greenback overseas and sustained foreign fund outflows. At the interbank foreign exchange market, the rupee opened on a positive note at 82.69 against the greenback, but pared the gains and fell to an intra-day low of 82.92. The domestic currency finally settled at 82.86, down 8 paise over its previous close of 82.78. The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 1 per cent higher at 104.55. Dollar index rose to 104.53 while brent oil was at USD 85.44 per barrel. Asian currencies are also weaker against dollar though Yuan was at 6.91, stable. The range for tomorrow is expected to be 82.50 to 83.20 with a risk to the upside. S/L for importers to be kept at 83.05," he added.
8) Singapore-based SGX Nifty was trading at 18,306, up 83 points or 0.46 per cent while Dow 30 Futures were also up 263 points or 0.80 per cent at 33,411 as US markets began trading after a long New Year break.
9) Among Asian benchmark indices, China's Shanghai Composite today ended at 3,116.51, up 27.25 points or 0.88 per cent. South Korea's Kospi settled at 2218.68, down 0.31 per cent. Japanese Nikkei is closed today.
10) Gold and Silver futures were trading with strength on MCX. February Gold futures were trading at Rs 55,530, up by Rs 352 or 0.64 per cent per 10 gram while March Silver futures were trading at Rs 70718, up 1147 or 1.65 per cent. Gold is at 30-month high level while Silver futures at 10-month high. 352 0.64
Catch all the updates here. For all other news related to business, politics, tech, sports, auto and others visit Zeebiz.com.
Latest Updates
Commodity LIVE - Gold Gliiters, Silver Shines
MCX February Gold futures gained over Rs 600 per 10 gram on the intraday basis while Fenruary Silver futures were up over Rs 1200 per kg. Even as frontline indices Sensex and Nifty slipped from green to red, action has shifted to the commodity markets, commodity expert Anuj Gupta said. He said that traders are seeing opporunity of money making in Gold and Silver futures.
He said that street is keeping a close eye on Federal Reserve FOMC meeting that begins later this month. While, interest rate hike is expected, pace is likley to come down as the US Central Bank did during its December monetry policy.
Tomorrow minites of the December meeting will be released.
He said that a lower pace of rate hike will keep dollar movement in check. Since movement in Dollar is inverse to movement in Gold and Silver, bullion is expected to gain.
Source: MCX
Stocks in News: Zomato -Should you buy or Sell
Zomato Limited shares fell on Tuesday on news of yet another top level resignation in the company. The stock was trading at Rs 58.70 on the NSE and was down by Rs 1.60 or 2.65 per cent.
Co-founder and Chief Technology Officer (CTO) Gunjan Patidar on Monday resigned, the company informed in its filing to the exchanges. The food-delivery company has seen a series of resignations over the past few months. In November, Mohit Gupta, Siddhart Jhawar and Rahul Ganjoo had relinquished their positions in the company.
Markets LIVE - Trading Strategy by Anuj Gupta of IIFL Securities
Gold prices rose on Tuesday and came close to six-month highs, amid a growing number of bets, commodity expert Anuj Gupta said. The street will be keeping a close eye on the US Federal Reserve’s Federal Open Market Committee (FOMC) meeting scheduled later this month. The Central Bank is likely to slow its pace of rate hikes even further. This in-turn is expected to weigh on the dollar and treasury yields.
BUY MCX GOLD February at 55000 stop loss of Rs 54750 TARGET Rs 55600
Buy MCX Silver March at Rs 69,000 with a stop loss of Rs 68,400 and price target of Rs 71,000.
Buy MCX Crude Oil January at Rs 6,500 with a stop loss of Rs 6,380 and price target of Rs 6,700
BUY MCX Copper January at Rs 715 stop loss of Rs 709 and price target of Rs 725
BUY Nifty at Rs 18,100stop loss of Rs 18,000 and price target of Rs 18,390.
(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 - Nifty Sectoral Indices
Out of 15 Nifty Sectoral indices. 4 were trading in the red against 11 gainers. The top losers were Nifty Auto, Nifty FMCG, Nifty Media and Nifty Oil & Gas. The top gainers were banks and financial services stocks with PSU banks taking the lead.
Source: NSE
Stocks to Buy - What top brokerages recommend?
Jefferies on Mahindra & Mahindra Finance (CMP: 241)
- Maintain Underperform, Target 175
For 3Q, reported healthy disbursement growth of 22% QoQ
Biz assets rose 20% YoY to Rs770bn, a tad softer than est
Collection eff. stable YoY at 95% MMFS expects stage 3 assets
to be c. 6.2% in 3Q (2Q 6.7%), which is encouraging
- Morgan Stanley on Mahindra & Mahindra Finance (CMP: 241)
Maintain Overweight, Target 275
Jefferies on Piramal Pharma (CMP: 123)
Initiate Buy, Target 150
CDMO biz is on cusp of a turnaround +steady growth for complex hospital generics
& scaleup of consumer health should drive 12%/21% revenue
Ebitda Cagr over FY22-25E
Trades at attractive val of 13.3x/10.6x FY24/FY25 EV-EBITDA
(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.)
Commodity Markets LIVE - Expert take on Gold, Crude
Gold
"COMEX Gold is trading higher in the early session today as US Dollar Index trades below the 252 DMA support of 104.30, which has now turned into resistance. For the majority of the session in December, Gold consolidated between $1780-$ 1825/oz as bulls failed to close the price above USD1825/oz. It will be an interesting week ahead with important economic data pointers to be released from US. Traders will be focusing on the ISM manufacturing PMI, FOMC minutes, ISM non-manufacturing PMI and the all-important NFP (Non-farm payrolls) print. Data pointers are important to take a cue on the Fed’s stance in their upcoming policy meeting." - Ravindra V.Rao, CMT, EPAT, VP-Head Commodity Research, Kotak Securities Ltd
Crude
"NYMEX WTI Crude oil is trading around 0.80% lower as of this writing. Crude oil ended a volatile 2022 with modest gains. The factors that moved crude prices in 2022 will continue to impact the prices in 2023 including Russia-Ukraine tensions, China COVID situation, OPEC policies to manage the demand -supply balance, currency action to name a few. For the week the focus will be on the important economic data pointers from the US including ISM manufacturing PMI, FOMC minutes and the all-important NFP (Non-farm payrolls) print. The data pointers would provide a direction to the US dollar and in turn crude oil. On the technical front, USD 81.50/bbl would act a good resistance in the near term. Break of USD 81.50/bbl on closing might give the bulls an edge to take the price higher towards USD 83.50/bbl. Till then we expect consolidation in prices between USD 77.50 - USD 81/bbl." - Ravindra V.Rao
(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 - Stock in News is Zomato
Zomato Limited shares fell on Tuesday on news of yet another top level resignation in the company. The stock was trading at Rs 58.70 on the NSE and was down by Rs 1.60 or 2.65 per cent.
Co-founder and Chief Technology Officer (CTO) Gunjan Patidar on Monday resigned, the company informed in its filing to the exchanges. The food-delivery company has seen a series of resignations over the past few months. In November, Mohit Gupta, Siddhart Jhawar and Rahul Ganjoo had relinquished their positions in the company
While Gupta was also a Co-founder, Siddhart Jhawar was Vice President of Global Growth Initiatives and Head of Intercity Food Delivery. Ganjoo was Head of New Initiatives.
In September, Nitin Savara, who was in the capacity of Chief Financial Officer, had put his papers.
Gupta had resigned two months after the IPO. The stock has corrected almost corrected 65 per cent from its lifetime highs and is trading 21 per cent below its issue price.
Commenting on this, Zee Business Managing Editor Anil Singhvi said that investors could see this development in two ways – one is that till the time Deepinder Goyal is at the helm, there is not much to worry. He said that there is a view that new investors have made their entry in the company and there is a top down shift in management with new ideas and plans. In this reshuffle, Goyl will work with his new team to take the company forward. This view believes that Goyal will work toward this goal with his new team and till the time he is there in the company, there is no reason to worry.
A meaningful correction will give opportunities to investors to make fresh buying moves and it will not be the right time to exit the stock.
Markets LIVE - Banks lead recovery as Sensex, Nifty turn green
Frontline indices Sensex and Nifty turned green after half and trade after starting the session in the red. The recovery was led by bank stocks with Axis Bank and SBI taking prominence. While the former was trading at 61,177.84, up 10.05 or 0.02% per cent, the latter was trading at 18,211.55, up 14.10 points or 0.08 per cent.
Markets LIVE - Nifty top gainers and losers
Source: NSE
Markets LIVE - Nifty in Charts
Commodity Markets LIVE - Gold, Silver futures open with strength
Anil Singhvi Strategy on Nifty, Bank Nifty - key support and resistance levels
Indian markets will take cues from from global markets, Zee Business Managing Editor Anil Singhvi said while spelling out his strategy on Nifty and Bank Nifty. He said that impact of weakness in Dow Futures has trickled down in SGX Nifty as well. Indian markets ended Monday with gains and there could be fresh buying opportunities at lower levels, Singhvi said. Amid negative global markets, positive domestic institutional investors (DIIs), negative foreign institutional investors (FIIs), neutral futures & options (F&O) and negative sentiment cues, the short-term trend of the Indian stock markets will be positive on Tuesday, January 3, 2023.
Markets LIVE - What Top Brokerges Say on Infosys, Wipro and HCL Technologies
- CLSA on Infosys (CMP : 1524)
Maintain Buy, Target 1800
- Credit Suisse on Infosys (CMP: 1524)
Maintain Outperform, Target 1710
- Citi on Infosys (CMP : 1524)
Maintain Buy, Target raised to 1745 from 1685
- Macquarie on Infosys (CMP: 1524)
Maintain Outperform, Target 2080
- Nomura on Infosys (CMP : 1524)
Maintain Buy, Target 1900
- CLSA on Wipro (CMP: 393)
Maintain Buy, Target 450
Credit Suisse on Wipro (CMP: 393)
Maintain Underperform, Target 350
- Citi on Wipro (CMP: 393)
Maintain Sell, Target raised to 380 from 370
- CLSA on HCL Technologies (CMP : 1040)
Maintain Buy, Target 1200
- Credit Suisse on HCL Technologies (CMP : 1040)
Maintain Neutral, Target 970
- Citi on HCL Technologies (CMP : 1040)
Maintain Neutral, Target raised to 1025 from 985
- Macquarie on HCL Technologies (CMP : 1040)
Maintain Outperform, Target 1500
(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 - Strategy on 20 stocks
In today's edition of Traders Diary, Zee Business research team brings its exclusive research on 20 stocks that investors and traders can refer to while making their strategies in them. The research team of Research Analyst Varun Dubey and Kushal Gupt recommends a buy, sell or hold strategy in cash stocks, futures and give their best picks for today.
Markets LIVE: Sector / Stocks in Focus
Metal sector was under spotlight on Monday as Indian stock markets began 2023 on a positive note. Metal sector gauge Nifty Metal ended at 6,886.65, up 163.25 points or 2.43 per cent and was the best performing sector today. In the 15-share index, 14 ended in the green with Steel Authority of India (SAIL), Hindustan Copper and MOIL finishing as top gainers.
The said stocks were up 7.62 per cent, 6.66 per cent and 5.87 per cent respectively. The loser was Adani Enterprises.
Metals are expected to remain in focus in the January series, says this experts. This is what he recommends.