Indices gain for 5th straight day, Sensex ends 259 pts up; banks outperform

All that happened in the markets today

3:58 PM

MARKET COMMENT:: S Ranganathan, Head of Research at LKP Securities.

Financials helped key Indices to close the day well into positive territory with the broader markets seeing demand for Gas stocks. The day also witnessed upmoves in names that are not usually seen frequently amongst gainers as savvy investors were seen scouting for value in a Bull Market

3:57 PM

MARKET COMMENT:: Vinod Nair, Head of Research at Geojit Financial services

It was a volatile day, started well but edged lower losing all the gains, in the end, the markets recovered much of the losses and closed with a small upside. Finance stocks were the major contributors in the upside but broader market underperformed the main benchmark. Selling was seen in auto, pharma and metal sectors among others too. A major part of the global developments like stimulus and Brexit deal are priced in the market. In the absence of major domestic or global events expected in the near-term, the market will focus on the upcoming Q3 earnings and stock-specific updates

3:56 PM

Most active stocks by volume

COMPANY	PRICE(rs)	CHG(%)
VODAFONE IDEA	10.29	-0.87
PUNJAB NATL.BANK	33.20	2.31
SUZLON ENERGY	5.95	4.94
DISH TV INDIA	12.85	-7.82
TATA MOTORS	183.40	-1.56

3:48 PM

Nifty sectoral indices at close

3:47 PM

Top gainers and losers in S&P BSE Sensex at close

3:38 PM

CLOSING BELL

Sensex ends 259 points, or 0.55 per cent, up at 47,613, Nifty50 settles at 13,932.60, up 59 points, or 0.43 per cent

3:11 PM

May slightly extend suspension of flights from UK beyond Dec 31: Aviation Minister

Final decision to be taken after discussion on genome sequencing, says Aviation Minister

 

3:07 PM

Nifty Bank among top sectoral gainers on NSE; all constituents barring one trade higher

3:06 PM

Wholesales to grow on low base for all automobile segments: Motilal Oswal

Wholesale volumes in the automobile sector are estimated to grow at 14.4 per cent for two-wheelers on a low base and 5.4 per cent for passenger vehicles due to year-end sales, Motilal Oswal Financial Services said on Tuesday. However, commercial vehicle volumes are likely to decline by 2.8 per cent (LCV growth of 4.7 per cent but restricted by a decline of 11.6 per cent in M & HCVs). READ MORE

2:53 PM

IFB Industries rallies 57% in a month on healthy growth outlook

Shares of IFB Industries hit a fresh 52-week high of Rs 1,218 on the BSE after it rallied 10 per cent in intraday trade on Tuesday on expectations of strong growth outlook. In the past one month, the stock has surged 57 per cent, as compared to a 8 per cent rise in the S&P BSE Sensex. IFB Industries’ operations consist of three divisions -- fine blanking, appliances and motor. The company continues being a market leader in the domestic front load washing machines as well as the dishwasher market, with a share of 40 per cent each. READ MORE

2:43 PM

BUZZING STOCK:: Quess Corp surges 9%

2:36 PM

European stocks extend gains as Brexit deal boosts UK

European stocks extended their year-end rally on Tuesday as a Brexit trade deal, hopes of an expanded U.S. stimulus package and euro zone’s marathon COVID-19 vaccination campaign brightened prospects for global growth in 2021. The pan-European STOXX 600 was up 0.8% by 0828 GMT, rising for a fifth straight session and scaling a new 10-month high. UK stocks were higher after a long weekend, with the blue-chip FTSE 100 jumping 1.6% after the sealing of a Brexit trade agreement between Britain and the European Union on Thursday. (Text Source: Reuters)

2:36 PM

Businesses continue to see improvement in performance: FICCI survey

The opening up of economy and implementation of a broad set of measures under 'Atmanirbhar Bharat' package have led to a continuous improvement over time in the performance of businesses, according to recent findings of the FICCI-Dhruva Advisors survey. The prospect of an introduction of a vaccine for COVID-19 early next year has improved confidence level of businesses. Almost 74 per cent of the survey participants said they foresee a significant positive impact on their business once the vaccine is made available. READ MORE

2:22 PM

Glenmark launches fixed dose combination drug for diabetes

Glenmark Pharmaceuticals on Tuesday said it has launched a fixed-dose combination drug for the treatment of Type 2 diabetes in the country. It has introduced a fixed-dose combination of Remogliflozin Etabonate and Vildagliptin in India for the management of Type 2 diabetes, the Mumbai-based company said in a statement. (Text Source: PTI)

2:07 PM

Nifty Media worst sectoral performer; all index constituents in the red

1:52 PM

MARKET UPDATE:: HDFC twins, Axis Bank among top contributors to Sensex's gain

1:41 PM

SECTOR WATCH:: Auto stocks under pressure

COMPANY	LATEST(rs)	CHG(%)
TATA MOTORS	184.40	-1.02
ASHOK LEYLAND	94.85	-0.42
TATA MOTORS-DVR	76.65	-0.78
M & M	707.15	-0.63
ESCORTS	1262.25	1.61

1:29 PM

Rossari Biotech stock advances 11% to hit new high since listing

Shares of Rossari Biotech edged higher by 11 per cent to Rs 1,019 on the BSE in intraday trade on Tuesday to scale its highest level since listing on the bourses on July 23 this year. The stock of specialty chemicals company zoomed 140 per cent against its issue price of Rs 425 per share. In the past one month alone, the stock has outperformed the market by gaining 25 per cent, as compared to a 7.5 per cent rise in the S&P BSE Sensex. READ MORE

1:09 PM

NEWS FLASH | Cabinet Secretary led CGD gives a go ahead to BEML Expression of Interest

Following this development, shares of the company jumped over 3%

1:02 PM

India VIX rises over 3%

12:59 PM

Lenders extend ICA for Reliance Home Finance resolution till Mar 31

Lenders to troubled mortgage firm Reliance Home Finance (RHF) have extended the inter-creditor agreement (ICA) for another three months. Reliance Home Finance, part of Anil Ambani-promoted Reliance Group, recently got bids from six suitors as part of the debt resolution process. "The lenders of the company forming part of the Inter creditor Agreement (ICA), executed pursuant to the Reserve Bank of India (RBI) circular dated June 7, 2019 on Prudential Framework for Resolution of Stressed Assets, have extended the ICA period till March 31, 2021," the company said in a regulatory filing. (Text Source: PTI)

12:49 PM

Aviation sector hit hard by Covid-19, but recovery may not be far away

Humpty Dumpty sat on a wall Humpty Dumpty had a great fall All the king’s horses and all the king’s men Couldn’t put Humpty together again The words of this nursery rhyme perhaps best describe the current predicament of the Indian aviation sector. The year 2020 has pulled the carpet from under the industry’s feet, and air travel, and even the passenger, may never be the same again, requiring the industry to reinvent itself from scratch. READ MORE

12:35 PM

Market Stats at noon

• On BSE, losers trump gainers; 1,311 shares rose while 1,476 fell
• 256 scrips hit 52-week highs and 29 scaled 52-week lows
• 321 stocks hit upper circuit limits and 165 touched lower circuits

12:34 PM

Chart check: 97% Nifty500 stocks trade above their respective 200-DMA

The sentiment and momentum in the Indian markets these days is that of extreme positivity. Spurred by the hope of a rebound in global economy and encouraging news on Covid-19 vaccine front, both the domestic benchmark indices are making their way into uncharted territory almost on a daily basis, with the Nifty50 index now eyeing the landmark level of 14,000. The overall scenario is that of a strong buying sentiment. READ MORE

12:21 PM

BSE Smallcap index hits 31-month high; Paisalo Digital zooms 53% in 4 days

Shares of smallcap companies were on a roll at the bourses on Tuesday with the S&P BSE Smallcap index hitting 31-month high after domestic mutual funds and insurance company acquired select companies' share from open market. SORIL Infra Resources, Paisalo Digital, Fineotex Chemical, Rupa & Company, Borosil Renewables, Nava Bharat Ventures and Hindustan Foods were up between 10 per cent and 20 per cent on the BSE in intra-day trade. The S&P BSE Smallcap index hit an intra-day high of 18,089, its highest level since May 10, 2018. The index surpassed its previous high of 17,967, touched on December 17, 2020. READ MORE

11:59 AM

Stocks that hit 52-week high on BSE today

COMPANY	PRICE(rs)	52 WK HIGH	CHG(%)
APL APOLLO TUBES	816.15	830.00	0.96
ASIAN PAINTS	2698.80	2698.80	0.56
BAJAJ AUTO	3441.10	3459.00	0.79
BALMER LAWRIE	137.50	146.50	1.66
BERGER PAINTS	746.00	746.00	0.69

11:48 AM

Some of 2020's most expensive stocks sink as investors choose to selloff

Some of the year’s most expensive stocks encountered a wave of selling as investors moved to lock in gains in the last week of 2020. Zoom Video Communications Inc. and DocuSign Inc., fell more than 6% on Monday. Both companies have seen their shares soar this year amid a surge in new users and are trading at more than 20 times next year’s projected sales. The average price to estimated sales multiple in the technology-heavy Nasdaq 100 Stock Index is 4.6 times, according to data compiled by Bloomberg. READ MORE

11:37 AM

Japan's Nikkei index hits 30-year high on expanded US stimulus hopes

Japan's Nikkei share average climbed to a three-decade high on Tuesday as investor risk appetite improved on hopes that the long-awaited U.S. pandemic relief package would be expanded. The benchmark Nikkei share average rose 1.63% to 27,292.37 by the midday break, having earlier hit its highest level since August 1990. The index was also on course for its biggest daily gain in five weeks. The broader Topix gained 1.05% to 1,806.84, hitting a level unseen since October 2018.

 

11:32 AM

Wipro hits new high, trades close to buyback price of Rs 400

Shares of Wipro hit a new high of Rs 390, up 2 per cent, on the BSE on Tuesday, and were trading close to the share buyback price of Rs 400 per share. The IT services major's share buyback programme commenced from today, December 29 and will close on January 11, 2021. In November, shareholders had approved the buyback plan for purchase of up to 237.5 million equity shares at Rs 400 per share, aggregating to an amount of up to Rs 9,500 crore. READ MORE

11:21 AM

Shriram Transport Finance plans to raise funds via debt securities

Shriram Transport Finance Company on Tuesday said its board will meet next month to consider raising funds through the issuance of debt securities. However, the company did not specify the amount that it is planning to raise. Shares of Shriram Transport Finance Company were trading 2.56 per cent higher at Rs 1,042.35 a piece on the BSE. (Text Source: PTI)