MARKETS: Indices end flat; Sensex slips 37 points, Nifty settles at 13,114

All that happened in the markets today

4:15 PM

MARKET COMMENT | Ajit Mishra, VP - Research, Religare Broking

Markets ended almost unchanged in a highly volatile trading session. The benchmark gradually inched lower after the flat start however strong buying in the last hour helped the index to close flat at 13,114 levels. The broader markets outperformed wherein both Midcap and Smallcap ended higher by 0.5 per cent and 0.7 per cent, respectively. On the sector front, except Banking and Finance, all the other indices ended with healthy gains wherein Realty, Metal and Oil & Gas were the top gainers.

 

We’re seeing consolidation in the index but the bias is still on the positive side. Going ahead, further updates on Covid vaccines and cues from the global markets will remain in focus. Besides, on the domestic front, RBI’s monetary policy meet would also be on investors' radar. The MPC is likely to maintain the status quo however their commentary on growth and inflation would be critical.

3:43 PM

Nifty Realty ends nearly 3% higher

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 37 points, or 0.08 per cent lower at 44,618 while NSE's Nifty ended at 13,114, up 4.7 points, or 0.04 per cent. 

3:26 PM

MARKET CHECK

3:16 PM

BROKERAGE VIEW | Prabhudas Lilladher on Emami

Rating: BUY | TP: Rs 526 

We are upgrading target price of Emami to Rs 526 (Rs 450 earlier) as we increase PE multiple from 26 to 28x (last 5-year average 38.6x, 25% discount to coverage universe) and rollover valuations to FY23. We believe Emami has hit a sweet spot for growth led by 1) Strong rural demand as it is 55% of sales for Emami 2) strong demand for winter care products on early onset of winter 3) low base for 3Q ( 5 year sales growth of 3.3%, 19.7% and 25.8% decline in 4Q and 1Q) 4) Kesh king has gained traction and is gaining share in premium hair oil segment 5) Strong demand for Immunity boosters like Chawyanprash and Kesari jeevan and 6) benign input costs of LLP and Mentha oil.

3:04 PM

M&M hits 52-week high, Escorts nears record high on strong tractor sales

Shares of Mahindra & Mahindra (M&M) and Escorts gained 3 per cent on the BSE on Wednesday in an otherwise subdued market as the tractor segment extended the trend of outperformance vis-a-vis rest of the automotive space in November 2020. The stock of M&M hit a 52-week high of Rs 758, surpassing its previous high of Rs 745, touched on November 24, 2020. Escorts hit an intra-day high of Rs 1,419, and was trading close to its record high of Rs 1,446 touched on November 19, 2020. READ MORE

3:02 PM

Sensex off lows

2:57 PM

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

2:53 PM

RBI Policy Expectations :: Gaurav Garg, Head of Research at CapitalVia Global Research

Analyzing the current scenario, RBI might rest their decision to continue with the status quo. However, in my opinion, inflation figures might be at a higher level, but still, RBI would not consider this as a time to start reversing the policy of low-interest rates as the GDP growth data for the past 2 quarters has been negative and as of now growth is going to take priority over inflation.

 

Markets are also expecting the RBI to maintain the status quo and have discounted the fact that if RBI keeps the benchmark rates the same, it is going to be a non-event from the market perspective. Although, we might see a higher degree of volatility in rate-sensitive stocks (Banking, NBFCs, Automobile, Real Estate) till the time policy is announced. GDP data, which was released last week showed that the Indian economy contracted for the 2nd consecutive quarter.

Although, the rate of contraction got reduced from 23.90% in Q1 to 7.9% in Q2 which was better than expected and markets have also taken this data positively with Nifty and broader indices trading at record high levels. However, in order to bring the economy back on a positive growth trajectory, RBI is expected to continue with the low rate regime for some more time before it decides to reverse its stance.

2:47 PM

BUZZING STOCK:: Bharti Infratel recovers 9% from day's low

2:37 PM

Hero MotoCorp gains 2% in subdued market on strong November sales

Continuing to ride over the challenging market conditions caused by Covid-19, the world’s largest two-wheeler manufacturer, reported a robust double-digit growth of 14.4 per cent over the corresponding month of the previous year (November 2019), when the company had sold 516,775 units. READ MORE 

2:24 PM

Top picks by Angel Broking

2:17 PM

Stocks that hit 52-week high in an otherwise weak market today

COMPANY	PRICE(rs)	52 WK HIGH	CHG(%)
ADANI ENTERP.	447.40	451.25	6.06
ADANI PORTS	435.75	437.85	2.83
ADANI TRANSMISSI	417.70	418.80	10.31
AFFLE INDIA	3730.00	3770.80	3.86
AIA ENGINEERING	1992.80	2025.55	5.73

2:09 PM

NEWS ALERT | L&T signs agreement to Divest UK unit, Servowatch Systems, to Rolls-Royce

2:05 PM

DHFL, Vakrangee, Tanla Platforms from BSE Smallcap zoom over 75% in 1 month

Tanla Platforms hit a fresh record high of Rs 675.55 today. Its share price has nearly doubled from the level of Rs 341.40. Since November 12, i.e. in 13 trading days, the stock has soared 89 per cent after the company said its stock has been included in MSCI India Domestic Small Cap index. The company has seen a lot of interest from foreign institutional investors (FIIs). READ MORE 

2:05 PM

European indices mixed in early deals

Source: Reuters

1:50 PM

Should you buy Bitcoin or gold? The debate is heating up on Wall Street

Bitcoin’s tumble last week, the biggest since March, after a 150% run-up this year underscores the famous volatility of the asset class that has kept mainstream investors at bay. Yet if they start moving just a small portion of their gold holdings into the $350 billion Bitcoin industry, it would be a game-changer for diversification strategies on Wall Street. READ MORE

1:40 PM

ALERT :: Indices extend decline; Nifty tests 13,000-mark

1:33 PM

Nifty Realty index up 2%; Oberoi Realty jumps 12%

1:26 PM

Financials top laggards on Sensex

1:25 PM

Interest Waiver Case :: Moratorium must be extended till March 31, 2021, says Senior Advocate Rakesh Dwivedi

1:24 PM

Interest Waiver Case :: SG asks if Srivastava's argument is that there is no need for providing benefit in case moratorium availed

>> Justice Bhushan clarifies that he argument is that the argument centers around how everyone should be provided benefit and not "small borrowers"

>> To leave it to the banks to establish their own criteria is the problem and this criteria will create subjectivity from bank to bank and the methodology will differ, says Srivastava.

 

>> There has to be a mandate, some compulsion. It cannot be left to their willingness only. This kind of structure may have elements of subjectivity, Srivastava says.

1:19 PM

NEWS ALERT | SC hearing on extension of moratorium underway

>> RBI must issue circulars to Housing banks, says Senior Advocate Rakesh Dwivedi

>> The argument of RBI that financial costs will be huge if more reliefs and schemes are given does not hold good, says Senior Advocate Ravindra Srivastava

>> This cut-off of Rs 2 crore for borrowers is arbitrary, says Senior Advocate Ravindra Srivastava. There cannot be general classification based on such an arbitrary figure, he adds.

 

1:18 PM

NEWS ALERT :: Odisha Government caps the price of RT-PCR test by private labs at Rs 400, reports CNBC TV18

1:13 PM

BSE Midcap index trades flat

1:03 PM

MARKET UPDATE:: Sharp fall in Sensex

12:59 PM

Gail rallies 18% in 3 days after PNGRB simplifies gas pipeline tariff

In the past three trading days, the stock of Gail (India) has rallied 18 per cent after oil regulator Petroleum and Natural Gas Regulatory Board (PNGRB) notified regulations for unified gas transmission tariff structure. The tariffs will be applicable based on two zone structure related to distance from source of gas. In the past one month, the stock has surged 42 per cent as against a 12-per cent rise in the S&P BSE Sensex. READ MORE

12:48 PM

MARKET UPDATE:: Sensex off lows but still down 100 pts

12:38 PM

BREAKING NEWS :: UK approves Pfizer/BioNTech Covid vaccine for mass roll out

>> British regulator, the MHRA, says the jab, which offers up to 95% protection against Covid-19 illness, is safe for roll out.

>> Immunisations could start within days for people in high priority groups.

 

>> The UK has already ordered 40m doses - enough to vaccinate 20m people, with two shots each.

 

>> Around 10m doses should be available soon.

(Source: BBC)