Indices end near records; Sensex gains 529 pts; RIL up 2.5%, Infy dips 1%

Markets will remain shut on Friday on account of Christmas.

4:16 PM

MARKET CLOSING COMMENT :: Dr. Joseph Thomas, Head of Research - Emkay Wealth Management

The frontline indexes closed strong this week, a shade above the 1 % mark in today’s session. Almost all the major sectors participated in this up-move except for IT and Tech and Capital goods. Banking , Healthcare , and Consumer Durables displayed immense amount of exuberance, and the overall sentiment reflected what is happening in the Eastern markets and early Europe.  Markets may be looking for positive cues from global markets in the coming days, as they re-open after a fairly long weekend after Christmas

4:00 PM

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

Governments plan to set logistics ready to vaccinate frontline health workers in the first phase boosted investor sentiments. Momentum in European markets on hopes of Brexit deal also helped Indian indices to trade higher, financials and pharma sector contributed in the rally. Volatility noticed at the start of the week vanished by the end of the week as concern over new strain of virus reduced, development on the US stimulus and vaccination

3:47 PM

TECH VIEW :: Rohit Singre, senior technical analyst at LKP Securities

Index maintain the bullish momentum for the third consecutive session and closed a day at 13,749 with gains of more than one per cent forming inside bar kind of candle pattern on the daily chart. Now index has reached to its upper band of resistance which was at 13,775 going forward if index managed to sustain above-said level then we may see the extension in rally otherwise we may see some profit booking in the index, support for nifty is coming near 13,680-13,600 zone

3:46 PM

TECH VIEW :: Ashis Biswas, Head of Technical Research, CapitalVia Global Research

The market witnessed the continuation of the strong pullback rally after a big correction that occurred on Monday. While sustaining above 13,750 is the key factor from a short-term perspective, A decisive breakout above the zone of 13,760-13,780 could open the gate for a movement till 13,990. The momentum indicators like RSI, MACD indicating a positive outlook to continue and market breadth to improve further after the decisive level breakout of the resistance zone.

   

3:46 PM

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

Ahead of a long weekend and a tranche of expected Rural Stimulus, Bulls were in complete control buoyed by a stellar listing of Bector Foods. Financials & Pharmaceuticals led the rally while investors bought into Insurers & Consumer Durable names across the broader market

3:45 PM

Market stats :: Market breadth remains 1:1

3:44 PM

Firstsource Solutions ends at over 12-yr high among smallcaps; S&P BSE SmallCap index closes 0.5% up

3:42 PM

S&P BSE MidCap index underperforms, ends flat

3:41 PM

Sectoral trends on NSE at Close :: Nifty IT index snaps 2-day gaining streak

3:40 PM

Sensex Heatmap :: IT, auto stocks see profit-booking

3:36 PM

CLOSING BELL

>> The S&P BSE Sensex gained 529 points, or 1.14 per cent, to settle the day at 46,973.5 levels. 

 

>> The broader Nifty50 closed at 13,749-mark, up 148 points or 1 per cent.

3:27 PM

WPIL jumps 36% in 2 days on bagging Rs 851 crore order from MP Jal Nigam

"WPIL has received a letter of intent from Madhya Pradesh Jal Nigam for two projects for an aggregate amount of Rs 851.31 crore to be executed over 30 months," the company said in a BSE filing on Wednesday. READ MORE

3:15 PM

Recovery in core portfolio, international biz boost Marico's share price

Continued recovery in Marico’s core portfolio, scaling up of its foods business and improvement in international business have driven shares of the Parachute and Nihar hair oil maker to all time high. The stock touched Rs 420.50 this month, and is currently around Rs 405 levels. READ MORE

3:05 PM

ITDC, BEML surge up to 17% on report govt may invite EoI for divestment

Shares of state-owned hotel company India Tourism Development Corporation (ITDC) and defence firm BEML rallied up to 17 per cent on the BSE in Thursday's session on the back of heavy volumes following a report that the government could invite expression of interest (EoI) for divestment in these public sector companies. READ MORE

2:54 PM

STOCK TIP :: Yash Gupta Equity Research Associate at Angel Broking on Vedanta

Vedanta Ltd stock up by 8% on promoter launch offer to buy upto 4.9%. Vedanta promoter group to raise stake by 5% via block deal with indicative price of 160. After Vedanta ltd promoter had failed to delist Vedanta ltd in October 2020 as not able to receive requisite quantity of share at cutoff price. At the time of delisting the promoter group fixed cutoff price at 87.5 and now via block deal as per the indicative price of 160 which is more than 82% of cut off price. We expect stock to consolidate at these levels, upside will be very limited from current market price as all positive news has been factored in.

2:45 PM

After Sebi mandate on multicap funds, Axis MF moves scheme to new category

Peeved at fund houses allocating a bulk of multicap fund investments in large cap stocks, capital markets regulator Securities and Exchange Board of India (Sebi) had in September asked fund houses to ensure at least 25 per cent of the assets under management are invested in small cap, mid cap and large cap stocks to ensure proper nomenclature. READ MORE

2:36 PM

MARKET CHECK :: Nifty nears record peak of 13,777

2:26 PM

Sensex contributors :: RIL, private banks do the heavy lifting

2:17 PM

Market Watch :: Sensex hovers near day's high, up 450 points

1:59 PM

MARKET COMMENT :: Rusmik Oza, executive Vice President, Head of Fundamental Research at Kotak Securities

This has been a short but eventful week with wide gyration in stock prices. After the sharp correction seen on Monday prices have recovered in the last three days. Monthly expiry has also contributed to the higher volatility. Nifty’s closing near the previous week high indicates strong rollovers on the back of healthy FII flows seen this month. IT stocks have again come into limelight because of the large mega deals announced by Infosys and Wipro this week. Some of the old economy stocks from oil & gas, automobile and metals & mining have come under selling pressure this week. This week has seen moderation in flows from both FIIs and DIIs. We can expect muted FII activity in the next week also due to year end phenomenon but expect activity to pick up sharply from the first week of January. Most probably Nifty should take support at 13,000 levels with likely break out above the 14,000 level sometime in January

1:51 PM

BUZZING STOCK:: Reliance Industries up 2%

1:39 PM

MARKET CHECK :: Sensex trades near's day high

1:39 PM

SECTOR WATCH:: Nifty Bank index up over 500 points

1:27 PM

This Rakesh Jhunjhunwala-owned stock hits 12-year high; nears record peak

Shares of Firstsource Solutions rose 11 per cent and hit an over decade-high of Rs 88.70 on the BSE on Thursday, surging 24 per cent in the past three days, after the firm acquired PatientMatters, a healthcare Revenue Cycle Management (RCM) solutions provider. The stock was trading at its highest level since January 2008. Besides, it is 5 per cent away from its all-time level of Rs 93, touched on May 15, 2007. READ MORE

1:21 PM

On cusp of Brexit trade deal, European Union and UK hash out final details

Britain and the European Union were on the cusp of striking a narrow trade deal on Thursday, swerving away from a chaotic finale to a Brexit split that has shaken the 70-year project to forge European unity from the ruins of World War Two. While a last-minute deal would avoid the most acrimonious ending to the Brexit divorce, the United Kingdom is heading for a much more distant relationship with its biggest trade partner than almost anyone expected at the time of the 2016 Brexit vote. READ MORE
 

1:21 PM

SpiceJet ties up with GMR Hyderabad Air Cargo for storage, delivery of Covid-19 vaccine

Low cost carrier SpiceJet on Thursdayannounced that it has signed an MoU with GMR Hyderabad Air Cargo (GHAC), a GMR group company,for providing a seamless service to all vaccine manufacturers in the region. As part of this association, SpiceXpress the cargo arm of SpiceJet envisions to provide efficient, speedy and reliable solutions for vaccine delivery, while also creating a sustainable cold chain network. (Text Source: PTI)

1:10 PM

BUZZING IN TRADE :: Godfrey Phillips shares advance 7%

1:00 PM

ESG investing gathers steam worldwide amid Covid-19 pandemic: Experts

Investors worldwide have been re-evaluating their portfolios based on environmental, social, and governance (ESG) parameters in the aftermath of the pandemic, with institutional players, wealth management clients, and millennials driving the change, a research note put out by EY India observed. READ MORE

12:55 PM

Stocks that hit 52-week high on BSE today

COMPANY	PRICE(rs)	52 WK HIGH	CHG(%)
ADANI ENTERP.	475.55	476.75	2.68
ASIAN PAINTS	2623.45	2656.25	-0.73
ASTRAL POLY TECH	1600.90	1635.00	0.71
BAJAJ AUTO	3387.50	3422.20	2.37
BERGER PAINTS	726.10	738.50	-1.02

12:45 PM

Corporate Action :: Government of Himachal Pradesh allots hydroelectric projects for 501 MW to SJVN

>> Projects alloted include 104 MW Tandi, 130 MW Rashil and 267 MW Sach Khas hydroelectric projects on Chenab Basin

(Source: BSE filing)