 "Sensex gains 969pts from day's low, ends up 296pts led by IT, pvt banks")
Closing Bell
The key benchmark indices recouped losses and finished with a steady gained led by fresh buying in select pharma and private banking shares. IT stocks also logged notable gains.
The BSE benchmark index, the Sensex, had dropped to a low of 56,543 in early deals. The BSE index, thereafter, recouped losses and rallied to a high of 57,512 - up 969 points from the day's low. The Sensex finally ended 296 points higher at 57,420.
The NSE Nifty rallied 279 points from the day's low of 16,833, to a high of 17,112. The Nifty 50 index eventually settled with a gain of 82 points at 17,086.
"The Nifty has formed a bullish candle on daily chart. On an immediate basis, the index has formed a support zone near 17,000-16,900 levels. If it manages to sustain above these levels, one can then expect a swift pullback towards immediate hurdle of 17,150-17,220 zone. Fresh breakouts will be only above 17,300 levels. Till then, can expect a sideways move," said Rohit Singre, senior technical analyst at LKP Securities.
Buzzing stocks of the day
Debutant, adhesives and sealants company HP Adhesives listed at a 16 per cent premium at Rs 319, and thereafter was locked at the 5 per cent upper circuit at Rs 335. The stock will be trading in the trade-2-trade segment for the first 10 trading sessions. READ MORE
Meanwhile, few the recent debutants like Metro Brands, Medplus Health and Data Patterns were down 4.2 per cent, 4.1 per cent and 6.5 per cent, respectively.
Market Dashboard: Snapshot of key movers and shakers in trade today
Tech Mahindra was the top gainer among the Sensex 30 stocks. It hit a fresh life-time high and was up 3.4 per cent. The stock so far this year has gained more than 84 per cent. READ MORE
Dr.Reddy's moved 2 per cent higher. PowerGrid Corporation, Kotak Bank, ICICI Bank, Sun Pharma, Mahindra & Mahindra, HDFC and HDFC Bank were the other major gainers. On the other hand, Asian Paints and IndusInd Bank ended marginally in red.
Shares of RBL Bank hit a 52-week low at Rs 138, slipping as much as 20 per cent in Monday’s intra-day trade, after the bank said over the weekend that Vishwavir Ahuja, its managing director and chief executive officer, had gone on leave and the Reserve Bank of India (RBI) had appointed Yogesh K Dayal as an additional director of the bank. READ ABOUT IT HERE
Click here for more market news
The broader markets also finished with notable gains. The BSE Midcap and Smallcap were up 0.3 per cent and 0.5 per cent, respectively. The overall breadth too was positive - out of 3,620 stocks traded today on the BSE, 2,125 ended higher, while 1,349 declined.
In the broader markets, GMR Infrastructure surged 12 per cent to Rs 47.95 after the GMR Group signed shareholders agreement with Indonesia's Angkasa Pura II for the development of Medan Airport on December 23. READ MORE
Among sectors, the BSE Healthcare index surged 1.3 per cent. The Bankex was the other notable gainer. Most sectoral indices ended with gains in the range of 0.3-0.5 per cent each.
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Markets in late noon deals (02:50 PM update)
LIVE market updates: The key benchmark indices continue to hover near the high's of the day, having rallied around 900 points from the day's low.
The BSE Sensex was up 293 points at 57,419, after the index had recovered from an early morning low of 56,543. The NSE Nifty 50 index had gained 79 points at 17,083.
Tech Mahindra was the top Sensex 30 gainer, up 2.5 per cent. Dr.Reddy's, PowerGrid Corporation, Sun Pharma, Kotak Bank and ICICI Bank were the other prominent gainers.
On the flip side, IndusInd Bank and Asian Paints had slipped a per cent each. Bajaj Finance, Titan and Wipro were the other notable losers.
The broader indices were also seen holding marginal gains. The BSE Midcap and Smallcap indices were up 0.1 per cent and 0.3 per cent, respectively. The overall breadth was positive, with nearly 2,100 advancing shares versus 1,300 declining stocks on the BSE.
In the broader market, shares of KP Energy (KEPL) hit a new high of Rs 241.05, after rallying 10 per cent on the BSE in Monday’s intra-day trade on the back of heavy volumes. The stock of the electric utilities company was trading higher for the fifth straight day, surging 41 per cent during the same period. READ MORE
Elsewhere in Asia, the markets ended on a tepid note. Taiwan Weighted was up 0.5 per cent, while Kospi and Nikkei were down 0.4 per cent each. Shanghai Composite and Straits Times ended almost unchanged.
_____________________________________________________________________________________________
Markets in noon deals
The key benchmark indices recouped losses and finished with a steady gained led by fresh buying in select pharma and private banking shares. IT stocks also logged notable gains.
The BSE benchmark index, the Sensex, had dropped to a low of 56,543 in early deals. The BSE index, thereafter, recouped losses and rallied to a high of 57,512 - up 969 points from the day's low. The Sensex finally ended 296 points higher at 57,420.
The NSE Nifty rallied 279 points from the day's low of 16,833, to a high of 17,112. The Nifty 50 index eventually settled with a gain of 82 points at 17,086.
"The Nifty has formed a bullish candle on daily chart. On an immediate basis, the index has formed a support zone near 17,000-16,900 levels. If it manages to sustain above these levels, one can then expect a swift pullback towards immediate hurdle of 17,150-17,220 zone. Fresh breakouts will be only above 17,300 levels. Till then, can expect a sideways move," said Rohit Singre, senior technical analyst at LKP Securities.
Buzzing stocks of the day
Debutant, adhesives and sealants company HP Adhesives listed at a 16 per cent premium at Rs 319, and thereafter was locked at the 5 per cent upper circuit at Rs 335. The stock will be trading in the trade-2-trade segment for the first 10 trading sessions. READ MORE
Meanwhile, few the recent debutants like Metro Brands, Medplus Health and Data Patterns were down 4.2 per cent, 4.1 per cent and 6.5 per cent, respectively.
Market Dashboard: Snapshot of key movers and shakers in trade today
Tech Mahindra was the top gainer among the Sensex 30 stocks. It hit a fresh life-time high and was up 3.4 per cent. The stock so far this year has gained more than 84 per cent. READ MORE
Dr.Reddy's moved 2 per cent higher. PowerGrid Corporation, Kotak Bank, ICICI Bank, Sun Pharma, Mahindra & Mahindra, HDFC and HDFC Bank were the other major gainers. On the other hand, Asian Paints and IndusInd Bank ended marginally in red.
Shares of RBL Bank hit a 52-week low at Rs 138, slipping as much as 20 per cent in Monday’s intra-day trade, after the bank said over the weekend that Vishwavir Ahuja, its managing director and chief executive officer, had gone on leave and the Reserve Bank of India (RBI) had appointed Yogesh K Dayal as an additional director of the bank. READ ABOUT IT HERE
Click here for more market news
The broader markets also finished with notable gains. The BSE Midcap and Smallcap were up 0.3 per cent and 0.5 per cent, respectively. The overall breadth too was positive - out of 3,620 stocks traded today on the BSE, 2,125 ended higher, while 1,349 declined.
In the broader markets, GMR Infrastructure surged 12 per cent to Rs 47.95 after the GMR Group signed shareholders agreement with Indonesia's Angkasa Pura II for the development of Medan Airport on December 23. READ MORE
Among sectors, the BSE Healthcare index surged 1.3 per cent. The Bankex was the other notable gainer. Most sectoral indices ended with gains in the range of 0.3-0.5 per cent each.
___________________________________________________________________________________________
Markets in late noon deals (02:50 PM update)
LIVE market updates: The key benchmark indices continue to hover near the high's of the day, having rallied around 900 points from the day's low.
The BSE Sensex was up 293 points at 57,419, after the index had recovered from an early morning low of 56,543. The NSE Nifty 50 index had gained 79 points at 17,083.
Tech Mahindra was the top Sensex 30 gainer, up 2.5 per cent. Dr.Reddy's, PowerGrid Corporation, Sun Pharma, Kotak Bank and ICICI Bank were the other prominent gainers.
On the flip side, IndusInd Bank and Asian Paints had slipped a per cent each. Bajaj Finance, Titan and Wipro were the other notable losers.
The broader indices were also seen holding marginal gains. The BSE Midcap and Smallcap indices were up 0.1 per cent and 0.3 per cent, respectively. The overall breadth was positive, with nearly 2,100 advancing shares versus 1,300 declining stocks on the BSE.
In the broader market, shares of KP Energy (KEPL) hit a new high of Rs 241.05, after rallying 10 per cent on the BSE in Monday’s intra-day trade on the back of heavy volumes. The stock of the electric utilities company was trading higher for the fifth straight day, surging 41 per cent during the same period. READ MORE
Elsewhere in Asia, the markets ended on a tepid note. Taiwan Weighted was up 0.5 per cent, while Kospi and Nikkei were down 0.4 per cent each. Shanghai Composite and Straits Times ended almost unchanged.
_____________________________________________________________________________________________
Markets in noon deals
The benchmark indices continue to be listless in noon deals on Monday with the S&P BSE Sensex trading nearly 100 points higher at around 57,200 levels. The Nifty50 index, on the other hand, tested the 17,000 mark. Both the frontline indices, however, recovered sharply from their morning losses.
The Nifty Private Bank index was the biggest loser, down 1.1 per cent. Bandhan Bank, IndusInd, IDFC First, RBL Bank led the losses.
"We feel major hurdles for the Bank Nifty are at 36,000 levels. Any meaningful recovery is expected only above 36,000. There would be stock-specific activity in the expiry week due to pick-up in rollover activity," said Nandish Patel of ICICI Securities in a late morning note.
Adding: "Major support for the index is at 34,000 levels, below which a fresh round of selling is expected. Looking at the overall data points, we feel the Bank Nifty will trade in a broader range of 2,000 points with 34,000 levels being very crucial on downside."
Shares of RBL Bank hit a 52-week low at Rs 138, slipping as much as 20 per cent in Monday’s intra-day trade, after the bank said over the weekend that Vishwavir Ahuja, its managing director and chief executive officer, had gone on leave and the Reserve Bank of India (RBI) had appointed Yogesh K Dayal as an additional director of the bank. READ MORE HERE
The Nifty Private Bank index was the biggest loser, down 1.1 per cent. Bandhan Bank, IndusInd, IDFC First, RBL Bank led the losses.
"We feel major hurdles for the Bank Nifty are at 36,000 levels. Any meaningful recovery is expected only above 36,000. There would be stock-specific activity in the expiry week due to pick-up in rollover activity," said Nandish Patel of ICICI Securities in a late morning note.
Adding: "Major support for the index is at 34,000 levels, below which a fresh round of selling is expected. Looking at the overall data points, we feel the Bank Nifty will trade in a broader range of 2,000 points with 34,000 levels being very crucial on downside."
Shares of RBL Bank hit a 52-week low at Rs 138, slipping as much as 20 per cent in Monday’s intra-day trade, after the bank said over the weekend that Vishwavir Ahuja, its managing director and chief executive officer, had gone on leave and the Reserve Bank of India (RBI) had appointed Yogesh K Dayal as an additional director of the bank. READ MORE HERE
Index watch
| INDEX | LATEST | CHANGE | CHANGE(%) |
| BSE Sensex | 57188.49 | 64.18 | 0.11 |
| BSE 500 | 23300.54 | 15.45 | 0.07 |
| BSE Mid-Cap | 24355.30 | -1.97 | -0.01 |
| BSE Small-Cap | 28458.97 | 92.42 | 0.33 |
| S&P BSE Largecap | 6564.14 | 3.14 | 0.05 |
Our Nifty target is 14,700 based on a one-year forward PER of 20x, a 10 per cent premium over long-term average. The broad-based earnings growth could be challenging. There is risk both in earnings disappointment and in PE de-rating. If a third wave of Covid infections happens and is as bad as the second one, the market could get very polarised with preference for blue chips with low volatility. There are, however, many bottom-up opportunities and themes to consider for the long term. READ THE FULL TEXT HERE
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Markets at 11 am
LIVE market updates: The benchmark indices largely recouped early morning losses but remained volatile. The BSE Sensex was at 57,114, down 10 points and the Nifty 50 continued to stay below 17,000, at 16,994.
The BSE MidCap indice was nearly 0.3 per cent lower led by losses in RBL Bank, Lodha, UBL, Endurance, JSW Energy, Jindal Steel, Gujarat Gas.
The SmallCap index, on the other hand, was in the green up 0.13 per cent.
The Nifty Private Bank index was the biggest loser, down 1.1 per cent. Bandhan Bank, IndusInd, IDFC First, RBL Bank led the losses.
That apart, the shares of Kabra Extrusion Technik hit a new all-time high of Rs 412.70, as they rallied 16 per cent on the BSE in Monday’s intra-day trade after the company announced capital expenditure (capex) plan of up to Rs 100 crore for expansion of battery division. READ MORE.
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Markets at 10 am
LIVE markets update: Frontline indices were off the day's lows after partially recovering losses. The BSE Sensex was 73 points lower at 57,051, while the Nifty50 inched to 16,978, down 25 points.
Among indices, apart from pharma(0.75 per cent) and healthcare (0.6 per cent), the rest were trading in negative on the NSE. Realty and private bank indices were down the highest by 1 per cent each. All the broader incdies were also in the red zone.
The volatility index was up nearly 6 per cent, suggesting weak investor sentiment.
Among the Sensex-30 constituents, only PowerGrid, M&M, Dr Reddy's Lab, Sun Pharma, HDFC, Kotak Bank and NTPC were in the positive.
New listing
Adhesives and sealants company HP Adhesives has made a decent market debut, with its shares listed at Rs 319, a 16 per cent premium over its issue price of Rs 274 per share on the BSE. The stock opened at Rs 315, 15 per cent higher against its issue price on the National Stock Exchange (NSE). READ MORE.
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Opening Bell
LIVE market updates: Benchmark indices opened lower on Monday amid weak sentiment. The BSE Sensex was trading nearly 500 points down to quote at 56,618 level while the Nifty50 was at 16,891, down 158 points.
In the broader markets, the BSE MidCap and SmallCap indices were also in the red zone, trading 1 per cent lower.
In the broader markets, the BSE MidCap and SmallCap indices were also in the red zone, trading 1 per cent lower.
Among individual stocks that comprise the Sensex, IndusInd Bank, Bajaj Finance, Bajaj Finserv, Asian Paints, Maruti Suzuki and Axis Bank were among the top losers that slipped 0.7 per cent to 4.6 per cent.
RBL Bank lost 15 per cent to Rs 146 levels after the bank said over the weekend that Vishwavir Ahuja, its managing director and chief executive officer, had gone on leave after the Reserve Bank of India appointed Yogesh K Dayal as an additional director of the bank. Action for RBL is important in light of the problems encountered by private lenders like YES Bank and Lakshmi Vilas Bank last year. READ MORE HERE
Global cues
Asian stock markets were generally weaker with U.S. crude in holiday-thinned trading on Monday, as uncertainty over the economic impact of the Omicron coronavirus variant weighed on investor sentiment. Japan's Nikkei lost 0.20 per cent while South Korea's Kospi fell 0.11 per cent.
Mainland Chinese shares, though, were mixed, with Shanghai's benchmark sliding 0.37 per cent but an index of blue chips edged 0.05 per cent higher. Australia, Hong Kong and Britain are among markets closed Monday for holidays. READ ABOUT IT HERE
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Pre-open session
LIVE market updates: Benchmark indices are suggesting a weak start for the Indian markets. The BSE Sensex was down nearly 170 points at 56,956 level, while the Nifty50 was at 16,923, down 80 points.
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LIVE market updates: With no clear global market cues and rising worries over Omicron, the benchmark indices are likely to open tepidly on Monday. Investor sentiment may remain weak as several states such as Delhi, Karnataka, Maharashtra enforce new restrictions in view of rising Covid-19 cases.
Financial stocks are likely to be in limelight, after the RBI accepted the recommendation of an internal working group (IWG) to allow non-promoters to hold up to 15 per cent in private sector banks.
LIVE market updates: With no clear global market cues and rising worries over Omicron, the benchmark indices are likely to open tepidly on Monday. Investor sentiment may remain weak as several states such as Delhi, Karnataka, Maharashtra enforce new restrictions in view of rising Covid-19 cases.
Financial stocks are likely to be in limelight, after the RBI accepted the recommendation of an internal working group (IWG) to allow non-promoters to hold up to 15 per cent in private sector banks.
New listing
HP Adhesives is set to make its market debut today. The Grey Market Premium indicates a listing gain in the range of 20-25 per cent for the stock.
In the primary market, Travel services provider TBO Tek Ltd has filed preliminary prospectus with capital markets regulator Sebi to raise Rs 2,100 crore through an initial public offering. The public issue comprises fresh issue of equity shares of up to Rs 900 crore and an offer for sale worth up to Rs 1,200 crore by promoters and existing investors.
In the primary market, Travel services provider TBO Tek Ltd has filed preliminary prospectus with capital markets regulator Sebi to raise Rs 2,100 crore through an initial public offering. The public issue comprises fresh issue of equity shares of up to Rs 900 crore and an offer for sale worth up to Rs 1,200 crore by promoters and existing investors.
Global cues
Cues from the Asian markets were mixed this morning. China’s Shanghai Composite and Taiwan were up 0.2 per cent and 0.3 per cent, respectively, while Nikkei and Kospi were down 0.2 per cent each. The Straits Times was flat.
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