MARKETS: Indices end at record closing peaks; Nifty settles above 13,000

All that happened in the markets today

3:43 PM

Nifty Bank jumps 713 points

3:42 PM

MARKET AT CLOSE | Gainers and losers on the S&P BSE Sensex

3:36 PM

CLOSING BELL

The S&P BSE Sensex ended at 44,523 levels, up 446 points, or 1 per cent while NSE's Nifty closed above13,000 levels at 13,055, up 129 points, or 1 per cent. 

3:29 PM

MARKET CHECK

3:23 PM

Top losers on the BSE at this hour

3:12 PM

Expert View :: B Gopkumar, MD & CEO, Axis Securities

Indian economy is recovering well. Credit growth also has started picking up. Electricity consumption, PMI, GST collections, and Eway bill data has been quite encouraging. With the road map for vaccination clearing, the economy will be back to full steam in 2021. The prospects ahead look quite encouraging as demand across sectors has started to look promising. The reset has had challenges, but it has also brought forth good opportunities, and corporates across the country are gearing to cash on them. So, even though markets are at an all-time high, but the risk to rewards still appear promising for the patient long term investors

3:06 PM

Select base metals may continue to rally in 2021 over weakening dollar

With stimulus packages being announced across the globe amid the Covid-19 pandemic, base metals are seen benefiting from the same. Copper, zinc and nickel have been rallying for the last 8 months as a broad-based weakening of the dollar made commodities cheaper for holders of other currencies. Besides, supply constraints from the pandemic-hit Latin American nations provided support to the metals, said brokerages. READ MORE

2:57 PM

Recovery from intra-day lows in today's session

COMPANY	DAY'S LOW(RS)	DAY'S HIGH(RS)	LATEST(RS)	RISE(%)
SUNTECK REALTY	288.30	342.30	321.70	11.59
NAVA BHARAT VENT	46.70	52.20	52.00	11.35
VA TECH WABAG	184.10	204.15	202.00	9.72
BOSCH	11801.70	13300.00	12910.00	9.39

2:47 PM

Nifty Bank index gains over 600 points

2:46 PM

BUZZING STOCK | RBL Bank surges 7%

2:40 PM

Heatmap: S&P BSE Sensex gainers and losers at this hour

2:34 PM

Auto stocks in focus; M&M, Eicher Motors hit fresh 52-week highs

Shares of automobile companies were in focus at the bourses on Tuesday, with individual stocks rising up to 6 per cent. The Nifty Auto index, meanwhile, climbed as much as 2.25 per cent intra-day to 8,935 level and was the top sectoral gainer. In comparison, the Nifty50 index was trading 0.95 per cent higher, at 2 PM. Among individual stocks, Mahindra & Mahindra gained 5.67 per cent to Rs 745.50, its fresh 52-week high, while Eicher Motors also hit its 52-week high level of Rs 2,715 on the NSE. READ MORE

2:23 PM

BROKERAGE VIEW | HDFC Securities on FMCG sector

Within the FMCG universe, Dabur, Britannia, GCPL, Radico, Emami, and Nestle outperformed, clocking revenue growth of 14/12/11/11/11/10% YoY respectively. Growth in packaged food and hygiene moderated, although it continued to remain strong, following reduced fear among consumers and easing of restrictions. Discretionary demand witnessed substantial sequential improvement as increased economic activity and more instances of going out lifted sentiments. Rural growth has been ahead of urban due to lower restrictions, migration of labour & capital and healthy agri economy. We expect rural will remain strong in 2HFY21. However, we remain cautious and selective within the sector due to the unfavourable medium-term risk-reward, given modest absolute growth relative to expectations and valuations. Despite defensive characteristics, we are underweight on the sector in our model portfolio. We recommend BUY on ITC and ADD on UNSP, Colgate and Radico.

 

2:17 PM

Expert View :: Bhavin Mehta, VP – Derivatives Strategist, Dolat Capital

Strong flow from FIIs helps Nifty move past the 13k mark, the journey of the last 1000 points in just 14 trading sessions. A bit of concern comes from India Volatility Index that has moved past 21 now and no immediate major event.

Remain Long till Nifty holds 12700 marks expect fresh unmoved on close above 13100 marks towards 13350 marks.

 

We have seen a slight decline in roll cost on the back of MSCI adjustment early fresh series. Thus, all in all, concerns remain only with VIX that has seen a sharp uptick without any foreseeable major event in the near term.

 

Participants believe the recent rally led by MSCI flows however, it has been across EMs and not just India. Dollar Index will be something to watch out for further aggression on flows from foreign participants. Sectors that led to BUYING recently: Metals, Banking, Financials, and Auto as we saw IT, Pharma and FMCG taking a back seat.

 

2:08 PM

NIFTY HITS HIGH OF 13,059

2:03 PM

AAVAS Financiers gains 6% in two days after stake sale by AU Small Fin Bank

On Monday, November 23, AU Small Finance Bank sold 3.5 million shares, representing 4.5 of total equity of AAVAS Financiers, according to BSE bulk deals' data. The value of these shares, at Rs 1,515.2 a piece was Rs 530.3 crore. AU SFB held 3.58 million equity shares or 4.57 per cent stake in AAVAS Financiers as on September 30, 2020, the shareholding pattern data shows. READ MORE

1:55 PM

Why retail, HNI investors may be regretting giving Gland Pharma IPO a miss

On Monday, the stock rose 15 per cent to end at Rs 2,095. At one point, the stock was locked in 20 per cent upper circuit, with only buyers and no sellers in the counter. Some selling, however, emerged later. The stock got listed on Friday and ended the session at Rs 1,820, a gain of 21 per cent over its issue price. READ MORE

1:45 PM

Good performance masks problem assets for Indian banks, says S&P

Rating agency S&P, in a statement, said while financial institutions performed better than we expected in the second quarter, much of this is due to the six-month loan moratorium, as well as a Supreme Court ruling barring banks from classifying any borrower as a non-performing asset. It released a report "The Stress Fractures In Indian Financial Institutions." READ MORE

1:36 PM

BSE Consumer Discretionary goods & services index up 1.42%

1:28 PM

MARKET UPDATE | India VIX surges around 5% to 21.82 levels

1:28 PM

NEWS ALERT :: Datamatics to sell-off entire stake in subsidiary firm CIGNEX Datamatics

>> The Board of Directors of Datamatics Global Services has approved to dispose off the entire stake which is indirectly held by the Company in its Step Down and Material Foreign Subsidiary, namely CIGNEX Datamatics, Inc, a corporation headquartered in the USA by way of divestment through stock redemption agreement entered into by and between Cignex US and Datamatics Global Technologies Limited, Mauritius

1:24 PM

Expert View :: Sameet Chavan- Chief Analyst -Technical and Derivatives at Angel Broking

We have already seen a mesmerising move in last three weeks. In fact, so far this month, Nifty and BankNifty have clocked whopping gains of 12% and 24%, respectively. It is backed by lot of positive news flow around the globe and a relentless buying of FIIs in our market, probably one of the biggest cash market buying figure ever in a single month. So market is very much likely to hit new records highs time and again. Immediately 13,100-13,200 are the levels to watch out but we will not be surprised to see 13,700 in coming months. On the lower side, 12,730-12,570 should be seen as sacrosanct support zone.

1:19 PM

Bitcoin at $100,000 in 2021? Outrageous to some, a no-brainer for backers

Bitcoin investors, which include top hedge funds and money managers, are betting the virtual currency could more than quintuple to as high as $100,000 in a year. It's a wager that has drawn eye-rolls from skeptics who believe the volatile cryptocurrency is a speculative asset rather than a store of value like gold. Since January, bitcoin has gained 160%, bolstered by strong institutional demand as well as scarcity as payment companies such as Square and Paypal buy it on behalf of customers. READ MORE

1:14 PM

SECTOR WATCH :: Realty stocks gain on report Maha govt suggests lowering FSI rates

>> Mumbai has seen a doubling of house registrations in October this year YoY

>> CNBC-TV18 reports that BMC commissioner is working with all the key political parties to request that 22 different premiums to be paid by realty companies be excused till end of 2021

Alert: FSI is Floor Space Index

1:05 PM

SECTOR WATCH:: Cement stocks under pressure in an otherwise firm market

COMPANY	LATEST(rs)	CHG(%)
INDIA CEMENTS	153.75	-1.22
AMBUJA CEMENTS	255.75	-0.93
ORIENT CEMENT	70.60	0.64
ACC	1710.20	-0.81
PRISM JOHNSON	80.10	-1.17

1:04 PM

NSE declares Karvy Stock Broking as defaulter, expels from membership

The National Stock Exchange (NSE) has declared Karvy Stock Broking as a defaulter for non-compliance with the regulatory provisions of the bourse.

 

In addition, Karvy Stock Broking has been expelled from the membership of the exchange, the NSE said in a circular. READ MORE

12:55 PM

Expert View :: Hemang Jani, Head - Equity Strategy, Broking & Distribution, MOFSL

Nifty crosses the 13,000 levels for the first time ever and made record highs today. Sensex also rose to a new life time high. Indian indices opened on record-high levels on Tuesday, tracking gains in Asian peers, on the back of the progress made on the Covid-19 vaccine and the prospects for a speedy global economic revival.

The overall sentiments are strong and the market outlook is positive going forward. If the foreign fund inflows continue we can see higher levels on Nifty in coming days/weeks. Nifty can possibly touch 13,200-13,400 levels also. But it also depends on the sustainability of the economic growth over the next few months post festive season. Hence at the current market levels it is advisable to partially book profits and sit on 15-20% Cash in the portfolio. Any corrections in the market can be used to deploy funds at lower levels.

12:44 PM

BROKERAGE VIEW | Emkay Global Financial Services on Mphasis

RATING: HOLD | TARGET PRICE: Rs 1,440 

While strong deal momentum and continued traction in the Direct business augur well for revenue growth, the weakness in DXC revenues and uncertainty around the revenue trajectory after the MRC period remain key risks. Maintain Hold with a TP of Rs 1,440.

12:36 PM

MARKET UPDATE:: Financials lead contributors to Sensex's gain today

12:27 PM

Nifty hits 13,000-mark, Sensex at record peak: Is it time to book profits?

The dream run of the domestic equities reached a new pinnacle on Tuesday when the Nifty50 index surpassed the 13,000-mark for the first time ever. The S&P BSE Sensex, meanwhile, kissed the 44,500-mark in intra-day deals. A cocktail of better-than-expected earnings, improved Goods and Services Tax (GST) collection, better macro-data, and progress in Covid-19 vaccine development has pushed the markets to their peaks, analysts say. That said, while the markets look poised for sustained uptrend, investors may consider profit-booking gradually, say analysts. READ MORE