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Share Market Highlights: Sensex ends 9 points higher, Nifty at 13,567; L&T, RIL, Infosys, ITC top losers

Share Market Highlights: Sensex ends 9 points higher, Nifty at 13,567; L&T, RIL, Infosys, ITC top losers

India Stock Highlights Today: Axis Bank, Reliance Industries, ONGC, M&M, ICICI Bank, Asian Paints, SBI, HUL, L&T, Titan, Infosys and TCS were among the top losers

Share Market Highlights: Here's a look at the updates of the market action on BSE and NSE today Share Market Highlights: Here's a look at the updates of the market action on BSE and NSE today

Sensex, Nifty Highlights on December 15: Market indices reversed trend and closed tad higher on Tuesday, amid mixed global equities. Sensex ended 9 points higher at 46,263 and Nifty gained by 9 points to 13,567. Yesterday, Sensex ended 154 points higher at 46,253 and Nifty gained by 44 points to 13,558. Global equities were weak today as concerns about increasing COVID-19 deaths, infections and lockdowns overshadowed optimism about the start of coronavirus vaccinations.

Here's a look at the updates of the market action on BSE and NSE today

3. 47 PM: Closing

Market indices reversed trend and closed tad higher on Tuesday, amid mixed global equities. Sensex ended 9 points higher at 46,263 and Nifty gained by 9 points to 13,567

3. 33 PM: Rupee outlook

Reliance Securities said in a research note, "US Dollar Index was trading weaker this Tuesday morning in Asian trade ahead of the Federal Reserve meeting this week and as demand for the safest assets remained weak amid progress toward agreeing US fiscal stimulus and optimism for a Brexit deal.

3. 21PM: Market update

Market indices reversed trend and traded tad higher by Tuesday's afternoon session, amid weak global equities. Sensex was trading 55 points higher at 46,287 and Nifty gained by 19 points to 13,577.

3. 13PM: Nifty technical view

Rohit Singre, Senior Technical Analyst at LKP Securities said,"Index showed a strong recovery from a day low and managed to close a day on a positive note with minimal gains and formed a doji candle for fourth consecutive session hinting uncertainty. The index has formed a good base near 13500 zone holding above said levels we may see the index to march towards its immediate resistance zone of 13600 and if managed to sustain above 13600 then we may see a quick move towards 13700 zone. Nifty bank close a day at 30683 and formed a dragonfly doji candle pattern on the daily chart, support for a nifty bank is coming near 30500-30350 zone and resistance is coming near 30850-31000 zone".

3.00 PM: FII outlook

According to IFA Global Founder and CEO Abhishek Goenka, the lower than expected headline CPI print should bring some cheer to the bond markets.

"FPIs are now utilising close to 43 per cent of their investment limit in Gsecs (up from around 40 per cent a month ago). The RBI continues to mop up inflows and that is keeping USD/INR supported," he added

2. 48PM: Kotak Mahindra Bank sahres hit all time high

Shares of Kotak Mahindra Bank inched up and touched fresh record high of Rs 1,949.45 on BSE on December 15, a day after the RBI has approved the appointment of Uday Kotak as the managing director and chief executive officer of Kotak Mahindra Bank for a period of three years with effect from 1st January 2021.

2. 30 PM: Market update

Market indices reversed trend and traded tad higher by Tuesday's afternoon session, amid weak global equities. Sensex was trading 55 points higher at 46,287 and Nifty gained by 19 points to 13,577.

2. 20 PM: Adani Ports share price rises 2%

Adani Ports and Special Economic Zone share price gained over 2% on Tuesday after the company said its joint venture would raise $300 million.

Adani Ports shares touched an intraday high of Rs 479.4, rising 2.66% against the last close of Rs 467. Adani Ports & SEZ is trading higher than 5, 20, 50, 100 and 200-day moving averages. The market capitalization of the stock stood at Rs 97,199 crore today.

2. 05 PM: IRCTC stock outlook

Yash Gupta Equity Research Associate, Angel Broking said,"IRCTC stock down by 1.8% on back of ongoing OFS, earlier promoter fixed floor price of Rs 1367. On First day of OFS it got oversubscribed by 1.98x times from the non-retail category. Now the company has fixed the cutoff rate of 1377.55 after the first day of bidding. Total OFS is 20% of paid up equity share capital. Pre-OFS Promoter shareholding is 87.4% and post-OFS it will come down to 67.4%, by this very significant supply will come on the day of allotment of OFS share to investors. We expect IRCTC stock to come down after the allotment of shares of OFS i.e. 16th December 2020."

1. 55PM: Majesco share hits all-time high

Majesco share hit all-time high today after the firm said its board had cleared the payment of interim dividend at Rs 974 per share or 19,480% compared to face value of Rs 5. Share of Majesco opened with a gain of 4.66% at Rs 1,019 today , also a fresh all-time high. Majesco share is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.

The share has gained 149.23% in one year and risen 161.35% since the beginning of this year.

In a month, the stock has gained 7.75%. Market cap of the firm rose to Rs 2,995.75 crore

Majesco share hits all-time high on board's nod to 19,480% dividend

1. 40 PM: Mrs. Bectors Food Specialities IPO

Angel Broking said,"For the next few years, we expect the domestic biscuit and bakery market to grow by 9% due to urbanization, increase in disposable income, favorable government policy. On the other hand, the institutional Indian bakery industry is expected to grow by 20% due to increasing market share of QSR chain. We think the company should be able to grow in line with the industry managed by the promoters having more than 25 years of sector knowledge. Company results were better than the industry in the first half of the fiscal 2021. Company peers such as Britannia Industries, Nestle India, Prataap Snacks and DFM Foods are trading at trailing PE of 50.2, 85.6, 57.1 and 97.6 respectively. On the other hand, the company is priced at trailing PE of 27.9. Given the significant discount compared to listed peers there is comfort on the valuation. We are positive on the long term growth prospects of the industry and the company, and hence recommend to "Subscribe" to the issue for long term as well as for listing gains."

1. 30 PM: YES Bank share slips 4%

YES Bank share price fell 4% on Tuesday for the third straight session. YES Bank share price opened lower at Rs 17.71 and fell 4.8% to hit the day's low of Rs 17.56 during the session. YES Bank also touched an intraday high of Rs 19.55 against the last closing of Rs 18.45. Yesterday, the private lender's shares fell 5% after it sold 15,00,000 equity shares of Sical logistics in several tranches.

YES Bank share has fallen 11% in the last three days. The stock of the private sector lender has fallen 61% since the beginning of the year and over 61% in one year. YES Bank stock is trading higher than 5, 20, 50 and 100-day moving averages but lower than 200-day moving averages.

1. 20 PM: Market update

Sensex was trading 360 points lower at 45,8923 and Nifty fell by 99 points to 13,458. Yesterday, Sensex ended 154 points higher at 46,253 and Nifty gained by 44 points to 13,558.

1. 13PM: Nifty Outlook

IIFL Securities said in its note,: "Nifty finds support around 13472 while 13600 will act as resistance. Bank Nifty finds support around 30500 while 31000 will act as resistance on the upside."

1.02PM: Global markets

Asian stocks came under pressure on Tuesday following a mixed Wall Street session, as concerns about increasing COVID-19 deaths, infections and lockdowns overshadowed optimism about the start of coronavirus vaccinations. US stocks erased morning gains and closed lower on Monday as investors weighed stimulus progress and vaccine distribution against dire new restrictions. The major European markets also finished mixed on Monday.

12. 54PM: Market outlook

Sameet Chavan (Chief Analyst-Technical and Derivatives, Angel Broking) said," The broader market index is trading at its important juncture and hence, next few sessions would be important to determine whether there would be any pause to the ongoing upmove. The Nifty index has formed back to back Doji candles in the last couple of sessions. The immediate supports for Nifty are placed around 13470 and 13400. Any breach below these support would signal the possibility of an immediate profit booking. Until then, once should continue to look for stock specific trading opportunities. On the flipside, the immediate resistances for the index are 13600 and 13670."

12. 38 PM: Mrs Bectors Food IPO

Bread and biscuits maker Mrs Bectors Food Specialities has launched its initial public offering (IPO) today. The firm, which supplies buns to quick-service restaurant (QSR) chains such as McDonald's, KFC, Burger King and Carl's Jr among others, plans to raise Rs 450-500 crore through the IPO.

Price band for the IPO has been fixed at Rs 286-288 per equity share. Face value of the stock is Rs 10 per share each. The proceeds of the IPO will be used to fund brownfield expansion of Rajpura manufacturing unit in Punjab. The IPO will close on December 17.

Mrs Bectors Food IPO in progress: Should you subscribe to the share sale?

12.21PM:Real Estate overview

Rajat Goel, JMD, MRG World said,"The real estate market is slated to move towards recovery post Unlock, and the policy measures introduced by the apex bank reflect optimism about economic growth. RBI was of the view that the Indian economy will register positive growth in the October-to-December festive quarter after six months of contraction if the economic upturn generated after lockdown sustained till the end of the year. This has proven to be true, with a good amount of buyer's interest being driven towards affordable housing."

12.07 PM: HCL Technologies outlook

Geojit Financial rated Buy to HCL stock with a CMP of Rs 874 and a target price of Rs 1,002 and said,"HCL Technologies reported a decent set of results in Q2FY21 with revenue growth of 4.5% on a sequential basis in Constant Currency (CC). Deal wins have been strong with 15 large net new wins and net-new Total Contract Value (TCV) expanding 35% QoQ. Company has developed capabilities in digital consulting, modern applications and data & analytics businesses through organic investments. Cloud migration and cybersecurity products will drive long-term growth as the clients digitalize their existing business models. Also, we believe that the strategic acquisition of DWS will improve client base and portfolio mix of services/product. We have a buy rating on the stock with a target price of Rs. 1,002 based on 20x FY22E adj. EPS."

11. 43 AM: Top gainers and losers

Axis Bank, Reliance Industries, ONGC, M&M, ICICI Bank, Asian Paints, SBI, HUL, L&T, Titan, Infosys and TCS were among the top losers. On the other hand, NTPC, HDFC Bank, HCL Tech, UltraTech Cement, Maruti and Bajaj Auto were among the gainers.

11. 24 AM: Mrs. Bectors Food Specialities IPO

IIFl Securities in its note said,"MBFSL has a high salience (~88% during H1FY21 and above ~81% over the last three years) of premium and mid-premium biscuits in its product portfolio (domestic and exports excluding contract manufacturing) which has aided in product differentiation, brand strength and customer loyalty. This is visible in their market share of 4.5% in the premium and mid-premium biscuits market in North India during FY20 (Source: Technopak Report). Its revenue from operations in FY20 took a hit, owing to 32% yoy decline in exports which were 31.5% of revenue from operations in FY19. However, the export sales have rebounded by 39% yoy in H1FY21."

11.10 AM: Burger King India share rises for second session

Burger King India share resumed its upward move in early trade for the second consecutive session today. Share of Burger King India rose up to 18.85% within minutes of opening on NSE. The stock rose up to Rs 160.45 against previous close of Rs  135. On BSE, the share gained 16% to Rs 160.55 against previous close of Rs 138.40. Market cap of the share rose to Rs 5,282 crore.

Burger King India share rises for second session, gains 167% to issue price

10.52AM: Market update

Market indices traded on a bearish note on Tuesday, amid weak global equities. Sensex was trading 360 points lower at 45,8923 and Nifty fell by 99 points to13,458.

10. 48 AM: Stocks to watch today on December 15

Tata Steel, TCS, NMDC, Bank of Maharashtra, Indian Bank, Dr Reddy among others are the top stocks to watch out for in Tuesday's trading session

Stocks in news: Tata Steel, TCS, NMDC, Bank of Maharashtra, Indian Bank, Dr Reddy

10. 32 AM: HCL Technologies outlook

Geojit Financial rated Buy to HCL stock with a CMP of Rs 874 and a target price of Rs 1,002 and said,"HCL Technologies reported a decent set of results in Q2FY21 with revenue growth of 4.5% on a sequential basis in Constant Currency (CC). Deal wins have been strong with 15 large net new wins and net-new Total Contract Value (TCV) expanding 35% QoQ. Company has developed capabilities in digital consulting, modern applications and data & analytics businesses through organic investments. Cloud migration and cybersecurity products will drive long-term growth as the clients digitalize their existing business models. Also, we believe that the strategic acquisition of DWS will improve client base and portfolio mix of services/product. We have a buy rating on the stock with a target price of Rs. 1,002 based on 20x FY22E adj. EPS."

10. 12 AM: Nifty Outlook

Geojit Financial said,": The turn lower yesterday from 13600 vicinity failed to evolve into stronger falls, as our intraday pivot of 13490 attracted fresh buying interest swing Nifty back again higher. This is a sign of strong positive undercurrent, but more volatility could still be in store. For now, collapse theories are kept at bay until 13280/50 is broken, and until then 13700 or higher levels could be in play, with 13510-470 remaining a crucial region."

10.00 AM: Global markets

Asian markets are trading slightly lower as concerns over rising corona virus cases and additional restrictions imposed by countries overshadowed vaccine optimism.

US markets closed lower as fears over more restriction in US with New York city Mayor signaling full shut down possibility which had offset optimism surrounding vaccine rollout. European markets closed mostly higher taking cues from positive news on vaccine and hopes regarding post-Brexit trade deal.

9. 45 AM: CPI data outlook

Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services said,"CPI inflation for November at 6.93 %, particularly the dip in food inflation, came as a pleasant surprise. This is a big relief for the bond market too. Markets, driven by liquidity ( FII investment in December has crossed Rs 30000 crores) is ignoring all negative news like spike in infections in US and increasing lockdowns in parts of Europe. But in India positive news regarding Covid continues. Remain invested in high quality large-caps and continue with  SIPs. Also, some profit booking may be considered"

9. 30 AM: Market outlook

On markets opening --Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments said,"The Nifty is at the mid point of the resistance patch which is in between 13400 and 13700. We have been in this range for over a week now as this is a decisive point for the index and can pose a threat to the upward direction of the market should there be a U turn from the current juncture. The breaking of 13300-13400 could be a dicey situation to be in."

9.23 AM: Opening session

Market indices opened on a bearish note on Tuesday, amid weak global equities. Sensex was trading 118 points lower at 46,102 and Nifty fell by 32 points to13,520.

9. 10 AM: Nifty outlook

Reliance Research said in its report,"Despite higher level profit booking, NSE-NIFTY continued its prior daily up trend. Major sectors remained in focus with positive momentum, especially PSU Bank and Media. Overall market breadth remained positive. Its major technical indicators are in buy mode. As mentioned earlier, we believe that undergoing positive momentum will continue in the index. The index has potential to explore uncharted territory and will test 13,700 and 14,000 levels. In case of near-term decline, the index will find strong support at 13,350 mark and will rebound.

As for the day, support is placed at around 13,488 and then at 13,418 levels, while resistance is observed at 13,613 and then at 13,668 levels

8. 50 AM: FII action

Foreign portfolio investors (FPIs) bought shares worth Rs 2,264.38 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 1,721.11 crore in the Indian equity market on 14 December, provisional data showed.

8. 40 AM: Rupee closing

On the currency front, the Indian rupee settled 9 paise higher at 73.55 per US dollar on Monday, supported by continued foreign portfolio inflows and heavy buying in domestic equities.

8. 30 AM: Closing on Monday

Market indices closed at fresh highs on Monday after hitting record levels at the opening bell amid positive global equities. Backed by heavy buying in PSU banking and metal, Sensex ended 154 points higher at 46,253 and Nifty gained by 44 points to 13,558. Earlier today, Sensex hit an all-time high of 46,373 and Nifty too logged a lifetime high of 13,597.