Share Market Updates Today: Indian equity benchmarks settled lower on Tuesday amid weak global cues. Asian markets mostly declined today as South Korea's Kospi fell 1.08 per cent and Hong Kong's Hang Seng index slipped 0.40 per cent. Japan's Nikkei, however, climbed 0.24 per cent and China's Shanghai Composite edged 0.02 per cent higher. Overnight, US stocks settled on a lower note. All three major US stock indexes plunged sharply. US services industry activity unexpectedly picked up in November, with employment rebounding, signaling momentum in the world's largest economy and sparking concerns that the Federal Reserve could tighten policy further to tackle inflation. US stock futures traded marginally higher, indicating a flat opening for Wall Street later today. S&P futures edged 0.06 per cent higher, Nasdaq futures rose 0.15 per cent and Dow Futures inched 0.05 per cent higher. Meanwhile, Indian stock markets would now be focused on RBI's monetary policy decision. The Reserve Bank of India is expected to raise interest rates by a smaller 35 basis points to 6.25 per cent. Back home, foreign institutional investors sold a net of Rs 1,139.07 crore equities on Monday, while domestic investors purchased Rs 2,607.98 crore worth of shares, as per provisional NSE data.
Here are the share market highlights:
Market view - Vinod Nair, Head of Research at Geojit Financial Services
Bears kept pushing domestic indices lower amid unfavourable global cues, with significant selling in metals and IT stocks. The mood was dampened by renewed concerns over policy tightening by the Fed in response to strong economic data out of the US. However, while easing Covid curbs in China benefited the demand outlook, fresh sanctions on Russian oil further added volatility to global oil markets. Investors at home await the RBI policy meet tomorrow, which is expected to slow the pace of rate hikes, in light of easing food prices.
Most active stocks
Suzlon, PNB, Yes Bank, Voda Idea, IRFC, Bajaj Hindusthan Sugar, South Indian Bank, IDBI, Bank of India and Union Bank were among the most active stock on NSE, in terms of volume.
Bank Nifty view - Kunal Shah, Senior Technical Analyst at LKP Securities
The Bank Nifty index witnessed mild profit booking a day before the key event of RBI policy. The index is stuck in a broad range between 42,800-43,500 and a break on either side post the event will witness some trending moves. The undertone remains bullish and if holding long positions the level of 42,800 should act as a strict stop loss. The index if breaks above 43,500 will witness a sharp short covering move on the upside towards 44,200-44,500 levels.
Nifty technical view - Rupak De, Senior Technical Analyst at LKP Securities
Investors mostly remained on the sidelines as they preferred waiting for the RBI monetary policy announcement. The Nifty found support around the previous low before closing a bit higher. The trend may remain sideways as long as the index remains within the bands of 18,600-18,800. Any decisive move on either side will induce a directional move.
Share market breadth
The overall market breadth stood weak as 1,609 shares advanced while 1,885 declined on BSE. The market capitalization (m-cap) of BSE-listed companies stood at Rs 289.97 lakh crore.
IT, metal & pharma stocks underperform
12 out of the 15 sector gauges -- compiled by the National Stock Exchange -- settled in the red. Sub-indexes Nifty IT, Nifty Metal and Nifty Pharma underperformed the NSE platform by falling as much as 1.45 per cent, 0.75 per cent and 0.75 per cent, respectively. In contrast, Nifty PSU Bank rose 1.26 per cent.
Mid and small-cap stocks
Mid- and small-cap shares finished on a lower note as Nifty Midcap 100 fell 0.46 per cent and small-cap shed 0.16 per cent.
Top gainers & losers on NSE
On the stock-specific front, BPCL was the top Nifty loser as the stock cracked 2.93 per cent to close at Rs 328.50. Hindalco, Tata Steel, Dr Reddy's and UPL were also among the laggards. In contrast, Adani Enterprises, HUL, Nestle India, Bajaj Auto and UltraTech Cement were among the top gainers.
Share market closing
Sensex falls 208 points or 0.33 per cent to close at 62,626, Nifty settles 58 points or 0.31 per cent lower at 18,643
Dr Reddy's Laboratories Ltd falls 2%
Shares of Dr Reddy's Laboratories Ltd fell 2.33 per cent to trade at Rs 4,375. The stock hit a day low of Rs 4,366.20. A total of 6,333 shares changed hands on BSE today, amounting to a turnover of Rs 2.78 crore. The company's market capitalisation or m-cap stood at Rs 72,840.25 crore.
Share market update
Sensex falls 319 points or 0.51 per cent to trade at 62,516, Nifty moves 96 points or 0.52 per cent to trade at 18,605; Tata Steel, BPCL, Hindalco, Dr Reddy's, UPL among top drags
Infosys shares fall nearly 2%
Shares of Tata Steel slipped 1.93 per cent to trade at Rs 1,608.80. The stock hit a day low of Rs 1,607.50. A total of 1.35 lakh shares changed hands on BSE today, amounting to a turnover of Rs 21.82 crore. The company's market capitalisation or m-cap stood at Rs 6,76,996.05 crore.
Tata Steel down nearly 3%
Shares of Tata Steel cracked 2.98 per cent to trade at Rs 112.35. The stock hit a day low of Rs 112.25. A total of 24.20 lakh shares changed hands on BSE today, amounting to a turnover of Rs 27.47 crore. The company's market capitalisation or m-cap stood at Rs 1,37,199.07 crore.
Dish TV plunges 5%
Shares of Dish TV slumped 5.35 per cent to trade at Rs 21.25. The stock hit a day low of Rs 21. A total of 7.30 lakh shares changed hands on BSE today, amounting to a turnover of Rs 1.58 crore. The company's market capitalisation or m-cap stood at Rs 3,912.66 crore.
Cera Sanitaryware Ltd down 4%
Shares of Cera Sanitaryware Ltd fell 4.07 per cent to trade at Rs 5,209. The stock hit a day low of Rs 5,446.55. A total of 2,034 shares changed hands on BSE today, amounting to a turnover of Rs 1.07 crore. The company's market capitalisation or m-cap stood at Rs 6,774.76 crore.
Angel One's client base
Angel One Ltd said it registered a 66.5 per cent YoY increase in its client base for the month of November 2022. The FinTech company also witnessed strong business growth with 70.82 million orders, registering an increase of 23.8 per cent YoY.
Easy Trip Planners down 6%
Shares of Easy Trip Planners plunged 6.12 per cent to trade at Rs 57.50. The stock hit a day low of Rs 56.70. A total of 12.69 lakh shares changed hands on BSE today, amounting to a turnover of Rs 7.39 crore. The company's market capitalisation or m-cap stood at Rs 9,995.34 crore.
IDBI Bank shares hit 52-week high
Shares of IDBI Bank climbed 4.88 per cent to trade at Rs 56.90. The stock touched a day high -- also its 52-week high -- of Rs 58.50. A total of 31.95 lakh shares changed hands today, amounting to a turnover of Rs 18.14 crore. The company's market capitalisation (m-cap) stood at Rs 61,181.17 crore.
GTL Infra shares fall 3.5%
Shares of GTL Infra plunged 3.62 per cent to trade at Rs 1.33. The stock touched a day low of Rs 1.32. A total of 101.46 lakh shares changed hands today, amounting to a turnover of Rs 1.36 crore on BSE. The company's market capitalisation (m-cap) stood at Rs 1,678.90 crore.
Share market update
Sensex falls 327 points or 0.52 per cent to trade at 62,508, Nifty moves 96 points or 0.51 per cent lower to trade at 18,605; Hindalco, Tata Steel, JSW Steel, ONGC, HCL Tech among top drags
Stocks at one-year highs: 14 BSE 500 stocks at 52-week high
BSE 500 stocks such as Aditya Birla Capital, Bank of Baroda, Bank of India, Britannia, CG Power, HAL, IDBI, Indian Bank, Jyothi Labs, L&T Financial Holdings, PNB, PSB, RCS and Union Bank hit their respective 52-week high levels today.
Raymond Ltd shares down 2.5%
Shares of Raymond Ltd plunged 2.5 per cent to trade at Rs 1,540.60. The stock touched a day low of Rs 1,529.85. A total of 14,000 shares changed hands today, amounting to a turnover of Rs 2.22 crore on BSE. The company's market capitalisation (m-cap) stood at Rs 10,256.35 crore.
Most active stocks
PNB, Suzlon, Yes Bank, Bajaj Hindusthan Sugar, South Indian Bank, Bank of India, Excel, UCO Bank, GLT Infra and Union Bank were the most active stocks on the NSE platform, in terms of volume.
Share market update
Sensex falls 416 points or 0.66 per cent to trade at 62,418, Nifty moves 105 points or 0.56 per cent down to trade at 18,596; Hindalco, Tata Steel, HCL Tech, ONGC, Hero MotoCorp among top drags
Share market breadth
The overall market breadth stood strong as 1,418 shares were seen advancing while 1,019 were declining on BSE.
Sectoral indices' performance
14 out of the 15 sector gauges -- compiled by the National Stock Exchange -- were trading in the red. Sub-indexes Nifty IT and Nifty Metal were underperforming the NSE platform by falling 1.17 per cent and 0.99 per cent, respectively. On the flip side, Nifty PSU Bank climbed 0.88 per cent.
Mid & small cap indexes
Mid- and small-cap shares were mixed as Nifty Midcap 100 fell 0.20 per cent and small-cap edged 0.06 per cent higher, respectively.
Top gainers and losers on NSE
Hindalco, HCL Tech, Infosys, Tata Steel and ONGC were among the top lggards on the NSE platform today with their shares down as much as 1.75 per cent. In contrast, SBI Life, HDFC Life, Adani Ent, Coal India and IndusInd Bank were among the top gainers.
Share market opening
Sensex falls 277 points or 0.44 per cent to trade at 62,558, Nifty moves 92 points or 0.49 per cent down to trade at 18,609
Rupee vs dollar view - Amit Pabari, MD, CR Forex Advisors
The rupee-dollar pair is likely to move towards 81.50 levels in the coming sessions. For now, we expect the pair to continue to trade in a range of 81.00-82.20 levels, and until then, sell on upticks shall remain a viable strategy for exporters.
Stocks to watch
Adani Enterprises, NDTV: Adani closed its open offer to buy a 26 per cent stake in NDTV, becoming its biggest shareholder.
Kalpataru Power Transmission: The company would consider raising funds through issuing non-convertible debentures.
Bajaj Consumer: The company would consider a share buyback proposal on December 9.
IRB Infrastructure Developers: The company's November toll collection increased about 39 per cent on a yearly basis.
Oil prices rise
Brent crude futures rose 74 cents, or 0.90 per cent, to $83.42 per barrel, while US West Texas Intermediate crude futures moved 69 cents, or 0.90 per cent higher, to $77.62.
Dow Jones fell 1.40 per cent to settle at 33,947.10. S&P 500 index slipped 1.79 per cent to end the session at 3,998.84. Nasdaq moved 1.93 per cent lower to close at 11,239.94.
Stocks in F&O ban
Delta Corp, GNFC and Indiabulls Housing Finance are in F&O (Futures and Options) ban period today. Stocks are placed under F&O ban when the derivative contracts in their securities cross 95 per cent of the market-wide position limit.
Foreign institutional investors (FIIs) sold Rs 1,139.07 crore worth of shares, while domestic institutional investors (DIIs) purchased Rs 2,607.98 crore worth of shares on December 5, provisional NSE data showed.
Trends on SGX Nifty indicated a lower opening for the domestic markets. The Nifty Futures on Singapore Exchange also known as the SGX Nifty Futures fell 64 points or 0.34 per cent to trade at 18,746.
The benchmark BSE Sensex had slipped 34 points or 0.05 per cent to close at 62,835 on Monday, while the broader NSE Nifty had settled 5 points or 0.03 per cent higher at 18,701.
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