Indices log record closing peaks for 4th day; Sensex up 224 pts at 46,890

Markets today: Heavyweights like HDFC, Bajaj Finance, HDFC Bank, and Reliance ended between 0.5 per cent and 3 per cent higher on the S&P BSE Sensex

3:53 PM

MARKET COMMENT :: Ashis Biswas, Head of Technical Research, CapitalVia Global Research

The market witnessed some strong trend and an attempt to overcome the resistance level around the Nifty 50 Index level of 13750. While sustaining above 13750 is the key factor from a short-term perspective. We suggest Maintaining above this level market to gain momentum and to open the gate for a movement till 13990. The momentum indicators like RSI, MACD to stay positive and market breadth to improve, further strengthening the view of a short-term bullish outlook.

3:52 PM

Market stats :: M-cap of BSE listed firms rises to Rs 1.85 trillion

>> No of stocks that advanced today: 1,386

>> No, of stocks that declined today: 1,584

>> Stocks that remained unchanged: 177

>> No. of Securities on that hit 52Wk High/Low: 322/ 38

3:48 PM

PSBs see profit-booking; index slips 1.4% on NSE

3:47 PM

HDFC duo, RIL, Bajaj Fin top contributors towards Sensex's rally

3:42 PM

Sectoral trends on NSE at Close

3:40 PM

Sensex Heatmap at Close

3:33 PM

CLOSING BELL :: Indices log record closing peaks for 4th straight day

>> At the index level, the benchmark S&P BSE Sensex settled at fresh closing peak of 46,890, adding 224 points or 0.48 per cent. In the intra-day deals, the index neaely kissed the 47,000-mark and hit a lifetime high of 46,992.

 

>> The broader Nifty50 index, on the other hand, surged 58 points, or 0.42 per cent, to end at 13,741 levels. It hit a record high of 13,773 during the day.

3:29 PM

Anil Agarwal eyeing Indian disinvestment program with a $10 bn war chest

The billionaire is teaming up with London-based Centricus Asset Management Ltd. to seek investments in Indian companies offering substantial growth opportunities, according to a statement Thursday. They will look to turn around companies being sold off as part of the country’s Rs 2.1 trillion ($29 billion) divestment program. READ MORE

3:22 PM

NEWS ALERT :: French President Emmanuel Macron tests positive for Covid-19: Presidency

3:19 PM

NEWS ALERT :: Icra revises FY21 GDP forecast to -7.8%

>> Expects recession to end in Q4FY21

3:18 PM

Bitcoin at $22,000 | Sumit Gupta, Co-founder and CEO, CoinDCX

Bitcoin breaking above $20,000 is a milestone in a year which saw numerous ups and downs in the global economy. This is mainly due to numerous global renowned investors, institutions putting their weight behind Bitcoin. The earlier skepticism has now been replaced by wide-spread acceptance and acknowledgment of Bitcoin as a strong investment option

Bitcoin is up 200% year to date(YTD), with other top cryptocurrencies like Ethereum performing well. On fundamental level, Bitcoin’s growth is largely attributed to how it is designed and in May 2020, we witnessed third halving , a supply shock event, where the number of daily mined Bitcoin gets cut in half. In the previous 2 halvings, Bitcoin and overall crypto market cap has risen exponentially, and we are witnessing a start of similar bull trend.

In short term (for the year 2021) the price range could be between Rs 50 lakh- Rs 1 crore owing to, the Bitcoin halving and growing global institutional demand, as mentioned earlier.

 

In the next year, with even greater demand from retail, institutions will lead Bitcoin to be positioned as one of the primary investment assets. In the light of mainstream acceptance and recognition of Bitcoin, the price of 1 Bitcoin can be anywhere in the range of "single digit crore" in the next 5 to 10 years

3:11 PM

Burger King India falls for first time in 4 days as investors book profit

Shares of Burger King India were locked in 10 per cent lower circuit limit at Rs 179.35 on the BSE on Thursday as investors booked profit. The stock fell 18 per cent from its intra-day high of Rs 219.15. READ MORE

3:00 PM

Renewed investor interest, huge gains push Bitcoin to fresh all-time peak

Bitcoin set a fresh all-time high on Thursday, after rising 6.5% to $22,765 by 0833 GMT, just a day after smashing the $20,000 milestone for the first time. The world's highest profile crypto-currency has gained more than 175% this year, buoyed by demand from larger investors attracted to its potential for quick gains and perceived inflation-hedging qualities. READ MORE

2:48 PM

Commodity Heatmap :: Sharp rally in gold, price tops Rs 50,000-mark

2:47 PM

Mindspace REIT raises Rs 200 cr via debentures

Mindspace Business Parks REIT has raised Rs 200 crore by issuing debentures on a private placement basis. In a regulatory filing, the company informed that the executive committee K Raheja Corp Investment Managers LLP, manager to Mindspace Business Parks REIT, has approved the allotment of 2,000 non-convertible debentures of the face value of Rs 10 lakh each for an aggregate principal amount of Rs 200 crore on a private placement basis. (Text Source: PTI)

2:42 PM

Global Market Update: European shares up for fourth session

European shares remained at 10-month highs on Thursday, as hopes of more stimulus in the United States and potential COVID-19 vaccine rollouts in Europe strengthened the case for a global economic recovery. Germany’s DAX climbed 1% to hit its highest since February, while the pan-European STOXX 600 index rose 0.5%, both extending gains to a fourth straight session. (Text Source: Reuters)

2:38 PM

Bitcoin tops $22,000 mark for the first time ever

Bitcoin set a fresh all-time high on Thursday, after rising 6.5% to $22,765 by 0833 GMT, just a day after smashing the $20,000 milestone for the first time. The world’s highest profile crypto-currency has gained more than 175% this year, buoyed by demand from larger investors attracted to its potential for quick gains and perceived inflation-hedging qualities.

 

2:33 PM

Sector rotation, a trend we saw in 2020, will continue even in 2021: Manish Kumar, CIO, ICICI Pru Life

Structurally, India is seeing a broad-based recovery with less sectors going through stress despite being hit hard by the pandemic. Indian markets are yet relatively insulated from global uncertainties. Over a 12-month view, we believe they will be supported by earnings traction and normalisation of growth with key drivers for India remaining intact, says Manish Kumar, chief investment officer at ICICI Prudential Life Insurance. READ MORE

2:09 PM

MARKET UPDATE:: Nifty Bank index rises 300 pts from day's low

1:55 PM

Lupin rises on settling dispute with Gavis and Novel; gains 5% in four days

Shares of Lupin were trading 2.5 per cent higher at Rs 985 on the BSE on Thursday after the pharmaceutical company settled a dispute with Gavis Pharma and Novel Laboratories. The stock was trading higher for the fourth straight day, up 5 per cent during the same period. On Wednesday, Lupin announced in a BSE filing that its dispute with the sellers in the Gavis/Novel transaction has been resolved amicably to the satisfaction of all parties. READ MORE

1:45 PM

ALERT :: S&P BSE MidCap index hits fresh 52-week high, just 1.6% away from all-time high

1:38 PM

MARKET ALERT :: Indices on record-breaking spree

>> S&P BSE Sensex tops 46,900-mark for the first time, hits new high of  46,948

>> NSE's Nifty tops 13,750, hits record high of 13,764

1:32 PM

BROKERAGE VIEW | MOSL sees 17% upside in HUL stock

The brokerage firm Motilal Oswal Financial Services in a report said it remains positive on HUL from a medium-term perspective, encouraged by: (a) robust earnings growth potential beyond the near term owing to its portfolio and execution strengths and (b) significant synergies in FY22E as a result o GSKCH. "These factors suggest premium multiples are likely to sustain. Valuing the company at 55x Dec’22 merged EPS, we arrive at tagret price of Rs 2,750, implying a 17% upside," it added.

1:30 PM

Mrs Bectors' Food IPO :: Issue subscribed 81x till 1:15 pm on Day 3

>> As per reports, the portion set aside for non-institutional investors has seen subscribed 290.4 times and that of qualified institutional buyers 26 times. Retail investors and employees' reserved portion was subscribed 23.2 and 39 times respectively.

1:20 PM

OEM recovery, robust replacement demand to boost Apollo Tyres revenues

The cyclical recovery in commercial vehicles, strong demand in the replacement segment, and ramp-up of its Hungarian facility are expected to help improve the revenue growth trend for Apollo Tyres. A strong presence in the aftermarket segment should enable it to hike prices and maintain margins. Analysts at Nirmal Bang Research expect the tyre industry to post healthy growth rates over FY21-FY23, led by 18-20 per cent growth in the original equipment manufacturer segment over this period. READ MORE

1:14 PM

Page Industries hits 52-week high amid surge in volume

1:07 PM

Nifty Realty index in focus, up 1%

12:57 PM

BUDGET 2021 :: Finance Minister Nirmala Sitharaman holds pre-Budget consultations with representatives of social sector

12:48 PM

L&T Technology Services shares advance 8%, hit fresh record high

Shares of L&T Technology Services zoomed 8 per cent to Rs 1,991, also its record high, on the BSE on Thursday after the company said it was recognized with the Frost & Sullivan 2020 Global Customer Value Leadership Award for its intelligent building experience management system, i-BEMSTM. READ MORE

12:39 PM

NEWS FLASH | Confident aviation traffic would hit pre-Covid levels by Jan-March 2021: Aviation Minister