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Share Market Highlights: Sensex closes at record high, Nifty at 13,749; ONGC, RIL, Sun Pharma top gainers

December 24,2020 16:04 IST

Sensex, Nifty Highlights on December 24:  Market indices rose sharply and closed 1.1% higher each on Thursday, tracking gains in index majors, amid positive cues from global equities

 

 

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KEY UPDATES

  • India Stock Market Highlights: During today's session, Sensex had hit an all-time high of 47,050 and Nifty logged a lifetime high of 13,771
  • Dec 24, 2020 16:04 (IST)

    ACC, Ambuja jump up to 10%

    Shares of Ambuja Cements rallied 9.96 per cent in intraday trade to Rs 261 apiece on the Bombay Stock Exchange after the companies received board nod for renewal of technology fees agreement with their parent company, Holcim Ltd. The stock was trading near its 52-week high of Rs 271.95 touched on November 17, 2020.  

    "The companies pay TKH fees @ 1 per cent of net sales each year, to HTL, for a period of 2 years w.e.f. January 01, 2021 on the same terms as the present TKH agreement," ACC and Ambuja said in a separate regulatory filing.

    ACC, Ambuja jump up to 10% on renewal of tech fees pact with Holcim


     

  • 16:04 IST: Shares of Ambuja Cements rallied 9.96 per cent in intraday trade to Rs 261 apiece on the Bombay Stock Exchange after the companies received board nod for renewal of technology fees agreement with their parent company, Holcim Ltd. The stock was trading near its 52-week high of Rs 271.95 touched on November 17, 2020.  

    "The companies pay TKH fees @ 1 per cent of net sales each year, to HTL, for a period of 2 years w.e.f. January 01, 2021 on the same terms as the present TKH agreement," ACC and Ambuja said in a separate regulatory filing.

    ACC, Ambuja jump up to 10% on renewal of tech fees pact with Holcim


     

  • Dec 24, 2020 16:01 (IST)

    Nifty technical outlook

    Ashis Biswas, Head of Technical Research, CapitalVia Global Research Limited- Investment Advisor said," The market witnessed the continuation of the strong pullback rally after a big correction that occurred on Monday. While sustaining above 13750 is the key factor from a short-term perspective, A decisive breakout above the zone of 13760-13780 could open the gate for a movement till 13990. 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."

     

  • 16:01 IST: Ashis Biswas, Head of Technical Research, CapitalVia Global Research Limited- Investment Advisor said," The market witnessed the continuation of the strong pullback rally after a big correction that occurred on Monday. While sustaining above 13750 is the key factor from a short-term perspective, A decisive breakout above the zone of 13760-13780 could open the gate for a movement till 13990. 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."

     

  • Dec 24, 2020 15:51 (IST)

    Closing

    Market indices rose sharply and closed 1.1% higher each on Thursday, tracking gains in index majors, amid positive cues from global equities. Extending gains for the third straight session, Sensex ended 529 points to 46,973 and Nifty gained by 148 points to 13,749. During today's session, Sensex has hit an all-time high of 47,053 and Nifty logged a lifetime high of 13,771.
     

  • 15:51 IST: Market indices rose sharply and closed 1.1% higher each on Thursday, tracking gains in index majors, amid positive cues from global equities. Extending gains for the third straight session, Sensex ended 529 points to 46,973 and Nifty gained by 148 points to 13,749. During today's session, Sensex has hit an all-time high of 47,053 and Nifty logged a lifetime high of 13,771.
     

  • Dec 24, 2020 15:48 (IST)

    Firstsource Solutions share price gains % today



    Firstsource Solutions stock touched an intraday high of Rs 82.15 (2.88%) after the company said it has acquired PatientMatters, a US-based healthcare revenue cycle management (RCM) solutions provider, for $13 million (over Rs 95.7 crore). Stock has been gaining for the last 3 days and has risen 13.75% returns in the period.



     

  • 15:48 IST:

    Firstsource Solutions stock touched an intraday high of Rs 82.15 (2.88%) after the company said it has acquired PatientMatters, a US-based healthcare revenue cycle management (RCM) solutions provider, for $13 million (over Rs 95.7 crore). Stock has been gaining for the last 3 days and has risen 13.75% returns in the period.



     

  • Dec 24, 2020 15:34 (IST)

    Reliance Industries share price gains 1% today

    Reliance Industries share price gained 1% intraday on Thursday to Rs 1969.90 against the previous closing price of Rs 1943.80 after the company arm Reliance Jio added 22.28 lakh users in October against 14.61 lakh additions in September, 2020.

    RIL stock has been gaining for the last 2 days and has risen 1.08% returns in the period. The stock has traded in a narrow range of Rs 15.3. Reliance Industries share price trades higher than 200 day moving averages but lower than 5 day, 20 day, 50 day and 100 day moving averages.  




     

  • 15:34 IST: Reliance Industries share price gained 1% intraday on Thursday to Rs 1969.90 against the previous closing price of Rs 1943.80 after the company arm Reliance Jio added 22.28 lakh users in October against 14.61 lakh additions in September, 2020.

    RIL stock has been gaining for the last 2 days and has risen 1.08% returns in the period. The stock has traded in a narrow range of Rs 15.3. Reliance Industries share price trades higher than 200 day moving averages but lower than 5 day, 20 day, 50 day and 100 day moving averages.  




     

  • Dec 24, 2020 15:28 (IST)

    Market update

    During today's session, Sensex had hit an all-time high of 47,050 and Nifty logged a lifetime high of 13,771

  • 15:28 IST: During today's session, Sensex had hit an all-time high of 47,050 and Nifty logged a lifetime high of 13,771

  • Dec 24, 2020 15:21 (IST)

    HDFC share price gains 10% today


    HDFC share price gained 10% intraday on Thursday to Rs 653.40 against the previous closing price of Rs 594 after the HFC on Wednesday signed a pact with the Indian Green Building Council (IGBC) and said its green housing retail loan book has crossed the Rs 14,000-crore-mark across 310 certified green buildings. The stock opened at 594 and has since traded at this price.

  • 15:21 IST:
    HDFC share price gained 10% intraday on Thursday to Rs 653.40 against the previous closing price of Rs 594 after the HFC on Wednesday signed a pact with the Indian Green Building Council (IGBC) and said its green housing retail loan book has crossed the Rs 14,000-crore-mark across 310 certified green buildings. The stock opened at 594 and has since traded at this price.

  • Dec 24, 2020 15:16 (IST)

    Vedanta share rises over 13%

    Vedanta share hit a fresh 52-week high amid reports that promoters of the firm will launch an offer to purchase 185 million shares that is about 4.9 per cent stake of total equity through a block deal today. Share of Vedanta climbed to an intraday high of Rs 170.5, gaining 13.33% against previous close of Rs 150.45 on BSE. The stock has gained 22.31%  in the last 3 days.

    The stock opened with a gain of 3.69% at Rs 156 on BSE.  Vedanta share is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages. The share has gained 6.49% since the beginning of this year and risen 9.73% in one year.

    Vedanta share rises over 13% as promoter to buy additional stake via block deal

  • 15:16 IST: Vedanta share hit a fresh 52-week high amid reports that promoters of the firm will launch an offer to purchase 185 million shares that is about 4.9 per cent stake of total equity through a block deal today. Share of Vedanta climbed to an intraday high of Rs 170.5, gaining 13.33% against previous close of Rs 150.45 on BSE. The stock has gained 22.31%  in the last 3 days.

    The stock opened with a gain of 3.69% at Rs 156 on BSE.  Vedanta share is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages. The share has gained 6.49% since the beginning of this year and risen 9.73% in one year.

    Vedanta share rises over 13% as promoter to buy additional stake via block deal

  • Dec 24, 2020 15:14 (IST)

    Ashok Leyland: BUY of 15 days with a Target Price of Rs 107

    Reliance Research said in its technical portfolio," Ashok Leyland (AL) is a very strong play on Indian CV industry, being the second largest CV maker with revenue stream solely dependent on the very segment. We expect strong recovery in M&HCV volume from 4QFY21 onwards and a strong rebound in FY22E. We expect the industry to witness sequential as well as YoY improvement in 2HFY21E. Pent-up demand, lower base and economic revival would translate into healthy growth in M&HCV volume in FY22E. AL has strategized its LCV business to gain market share with new products and segments. Its latest launch of LCV i.e. "Bada Dost" would help gain market share and drive profitability. Moreover, it would reduce cyclicality and AL's dependence on M&HCV segment. We recommend BUY for a time horizon of 15 days with a Target Price of Rs 107 and Stop Loss at Rs 89."

  • 15:14 IST: Reliance Research said in its technical portfolio," Ashok Leyland (AL) is a very strong play on Indian CV industry, being the second largest CV maker with revenue stream solely dependent on the very segment. We expect strong recovery in M&HCV volume from 4QFY21 onwards and a strong rebound in FY22E. We expect the industry to witness sequential as well as YoY improvement in 2HFY21E. Pent-up demand, lower base and economic revival would translate into healthy growth in M&HCV volume in FY22E. AL has strategized its LCV business to gain market share with new products and segments. Its latest launch of LCV i.e. "Bada Dost" would help gain market share and drive profitability. Moreover, it would reduce cyclicality and AL's dependence on M&HCV segment. We recommend BUY for a time horizon of 15 days with a Target Price of Rs 107 and Stop Loss at Rs 89."

  • Dec 24, 2020 15:11 (IST)

    Muthoot Finance witnesses robust growth, BUY weightage

    Reliance Research said in its technical portfolio," Muthoot Finance has witnessed robust growth in the past few months despite higher competition from the banks. The company is confident of beating AUM growth guidance in FY21. As per the management, growth comes regardless of gold prices, as in times of decline in gold prices, the borrowers pledge more gold and vice-versa. Given the short duration as well as low ticket size of the product, the absolute interest cost in INR terms to the borrower does not increase much with higher yield. Hence, it is able to compete with the banks, which offer much lower interest rates. While re-pricing of existing debt would result in lower cost of funds, sustaining stable spreads and recent money raised through NCDs provides comfort in terms of liquidity."

  • 15:11 IST: Reliance Research said in its technical portfolio," Muthoot Finance has witnessed robust growth in the past few months despite higher competition from the banks. The company is confident of beating AUM growth guidance in FY21. As per the management, growth comes regardless of gold prices, as in times of decline in gold prices, the borrowers pledge more gold and vice-versa. Given the short duration as well as low ticket size of the product, the absolute interest cost in INR terms to the borrower does not increase much with higher yield. Hence, it is able to compete with the banks, which offer much lower interest rates. While re-pricing of existing debt would result in lower cost of funds, sustaining stable spreads and recent money raised through NCDs provides comfort in terms of liquidity."

  • Dec 24, 2020 14:53 (IST)

    Market nears new highs

    Market indices rose sharply by Thursday's afternoon session, tracking gains in index majors Reliance Industries, HDFC twins and ICICI Bank amid positive cues from global markets. Extending gains for the third straight session, Sensex rose by 588 points to 46,720 and Nifty gained by 165 points to 13,766. During today's session, Sensex had hit an all-time high of 47,050. Last Friday, Nifty had logged a lifetime high of 13,772.

     

  • 14:53 IST: Market indices rose sharply by Thursday's afternoon session, tracking gains in index majors Reliance Industries, HDFC twins and ICICI Bank amid positive cues from global markets. Extending gains for the third straight session, Sensex rose by 588 points to 46,720 and Nifty gained by 165 points to 13,766. During today's session, Sensex had hit an all-time high of 47,050. Last Friday, Nifty had logged a lifetime high of 13,772.

     

  • Dec 24, 2020 14:50 (IST)

    Profit booking in Burger King



    Keshav Lahoti-Associate Equity Analyst, Angel Broking said," We had given a subscribe rating to Burger King India IPO, stock made a stellar listing on the exchange by listing at 87.5% above its issue price  and is currently trading at 201% above issue price. Currently, stock is trading at 6.2x on FY20 EV/sales basis. Short term investors can book profit at the current market price. Investors with a long term horizon can keep their money invested in the stock as growth prospects of the company are promising and as operating leverage will kick in, it will improve company's margins."

    Burger King India share rises over 6%, climbs for second consecutive session

  • 14:50 IST:

    Keshav Lahoti-Associate Equity Analyst, Angel Broking said," We had given a subscribe rating to Burger King India IPO, stock made a stellar listing on the exchange by listing at 87.5% above its issue price  and is currently trading at 201% above issue price. Currently, stock is trading at 6.2x on FY20 EV/sales basis. Short term investors can book profit at the current market price. Investors with a long term horizon can keep their money invested in the stock as growth prospects of the company are promising and as operating leverage will kick in, it will improve company's margins."

    Burger King India share rises over 6%, climbs for second consecutive session

  • Dec 24, 2020 14:45 (IST)

    Kirloskar Ferrous Industries share price gains 2.8%




    Kirloskar Ferrous Industries share price gained 2.8% intraday to Rs 139.90 against the previous closing price of Rs 136.05 after the company said it has completed the acquisition of movable and immovable assets relating to the pig iron plant of VSL Steels situated at Paramenahally Village, Karnataka.

    Stock has been gaining for the last 3 days and has risen 9.25% returns in the period. Kirloskar Ferrous is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages

  • 14:45 IST:


    Kirloskar Ferrous Industries share price gained 2.8% intraday to Rs 139.90 against the previous closing price of Rs 136.05 after the company said it has completed the acquisition of movable and immovable assets relating to the pig iron plant of VSL Steels situated at Paramenahally Village, Karnataka.

    Stock has been gaining for the last 3 days and has risen 9.25% returns in the period. Kirloskar Ferrous is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages

  • Dec 24, 2020 14:37 (IST)

    Market outlook



    Binod Modi Head-Strategy at Reliance Securities said, "Domestic equities look to be good at the moment. Asian markets are trading positive as the outline of Brexit trade deal was reached. Further, fear of a new coronavirus strain seems to be easing out now with select European countries opening borders for Britain. FPIs flow continues to remain a key driving force for domestic equities, which is expected to sustain in the near term in the backdrop of weak dollar, soft monetary policies of global central bankers and fiscal stimulus in the USA. Sustainability of recovery in key economic data and 3QFY21 earnings are likely to play important roles for domestic markets for the sustainability of premium valuations in the near term".Market outlook

    Binod Modi Head-Strategy at Reliance Securities said, "Domestic equities look to be good at the moment. Asian markets are trading positive as the outline of Brexit trade deal was reached. Further, fear of a new coronavirus strain seems to be easing out now with select European countries opening borders for Britain. FPIs flow continues to remain a key driving force for domestic equities, which is expected to sustain in the near term in the backdrop of weak dollar, soft monetary policies of global central bankers and fiscal stimulus in the USA. Sustainability of recovery in key economic data and 3QFY21 earnings are likely to play important roles for domestic markets for the sustainability of premium valuations in the near term".

  • 14:37 IST:

    Binod Modi Head-Strategy at Reliance Securities said, "Domestic equities look to be good at the moment. Asian markets are trading positive as the outline of Brexit trade deal was reached. Further, fear of a new coronavirus strain seems to be easing out now with select European countries opening borders for Britain. FPIs flow continues to remain a key driving force for domestic equities, which is expected to sustain in the near term in the backdrop of weak dollar, soft monetary policies of global central bankers and fiscal stimulus in the USA. Sustainability of recovery in key economic data and 3QFY21 earnings are likely to play important roles for domestic markets for the sustainability of premium valuations in the near term".Market outlook

    Binod Modi Head-Strategy at Reliance Securities said, "Domestic equities look to be good at the moment. Asian markets are trading positive as the outline of Brexit trade deal was reached. Further, fear of a new coronavirus strain seems to be easing out now with select European countries opening borders for Britain. FPIs flow continues to remain a key driving force for domestic equities, which is expected to sustain in the near term in the backdrop of weak dollar, soft monetary policies of global central bankers and fiscal stimulus in the USA. Sustainability of recovery in key economic data and 3QFY21 earnings are likely to play important roles for domestic markets for the sustainability of premium valuations in the near term".

  • Dec 24, 2020 14:16 (IST)

    Nifty technical outlook

    Rusmik Oza, Executive Vice President, Head of Fundamental Research at Kotak Securities said, “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."

  • 14:16 IST: Rusmik Oza, Executive Vice President, Head of Fundamental Research at Kotak Securities said, “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."

  • Dec 24, 2020 13:58 (IST)

    Gold outlook for 2021

    Prof Arvind Sahay, Chairperson, India Gold Policy Centre @ IIM Ahmedabad said,"Gold prices in top 17 consuming countries are higher by 22% on average, varying between 13% to 60%. The gains were driven by strong investment demand. The reliance on gold as a safe haven was truly evident when the pandemic hit the world. Prices in december 2020 have corrected to $1860 / Oz from a high of $2067 in August 2020, but are still more than 22% up YTD. We think gold prices still have scope to increase by 20 to 25% in 2021-22 in a certain scenario. In this scenario, interest rates in the dollar and Euro zones continue to remain soft, trade frictions continue to simmer between the US and EU on one side and China on the other, geopolitical tensions and technological rivalry over semiconductors ratchets up a notch or two, Covid -19 cases continue to rise and the vaccine does not perform as well as expected for another 6-12 months, new stimuli get announced and bitcoin gets even more volatile."

  • 13:58 IST: Prof Arvind Sahay, Chairperson, India Gold Policy Centre @ IIM Ahmedabad said,"Gold prices in top 17 consuming countries are higher by 22% on average, varying between 13% to 60%. The gains were driven by strong investment demand. The reliance on gold as a safe haven was truly evident when the pandemic hit the world. Prices in december 2020 have corrected to $1860 / Oz from a high of $2067 in August 2020, but are still more than 22% up YTD. We think gold prices still have scope to increase by 20 to 25% in 2021-22 in a certain scenario. In this scenario, interest rates in the dollar and Euro zones continue to remain soft, trade frictions continue to simmer between the US and EU on one side and China on the other, geopolitical tensions and technological rivalry over semiconductors ratchets up a notch or two, Covid -19 cases continue to rise and the vaccine does not perform as well as expected for another 6-12 months, new stimuli get announced and bitcoin gets even more volatile."

  • Dec 24, 2020 13:37 (IST)

    Vodafone Idea share price fell 3% today

    Vodafone Idea share price fell by 3% intraday to Rs 10.21 against the previous closing price of Rs 10.56 as the company lost 26.56 lakh users in October against loss of 46.53 lakh users in September. Stock has fallen after 2 days of consecutive gain.  Vodafone Idea is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages

  • 13:37 IST: Vodafone Idea share price fell by 3% intraday to Rs 10.21 against the previous closing price of Rs 10.56 as the company lost 26.56 lakh users in October against loss of 46.53 lakh users in September. Stock has fallen after 2 days of consecutive gain.  Vodafone Idea is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages

  • Dec 24, 2020 13:21 (IST)

    Nifty technical supports

    Sameet Chavan (Chief Analyst-Technical and Derivatives, Angel Broking) said," In our sense, for the next couple of days at least, the index is likely to remain in a slightly wider range before deciding its next path. The ideal range would be 13600 to 13100, where the lower range should be seen as a sacrosanct support, which is the ’89-EMA’ level on ‘180-minutes’ chart. On the higher side, if Nifty has to regain strength, it needs to surpass 13550 -13600 with participation of few marquee heavyweights, especially from the banking space. For the coming session, the intermediate supports are placed at 13396-13342-13266."

  • 13:21 IST: Sameet Chavan (Chief Analyst-Technical and Derivatives, Angel Broking) said," In our sense, for the next couple of days at least, the index is likely to remain in a slightly wider range before deciding its next path. The ideal range would be 13600 to 13100, where the lower range should be seen as a sacrosanct support, which is the ’89-EMA’ level on ‘180-minutes’ chart. On the higher side, if Nifty has to regain strength, it needs to surpass 13550 -13600 with participation of few marquee heavyweights, especially from the banking space. For the coming session, the intermediate supports are placed at 13396-13342-13266."

  • Dec 24, 2020 13:11 (IST)

    Tata Communications stock hits all-time high

    Share of Tata Communications rose over 9% in early trade today after the firm acquired majority stake in French firm Oasis Smart SIM. Tata Communications share gained 9.3% to Rs 1,144.95, a fresh all-time high, against previous close of Rs 1048.35 on BSE. Market cap of the firm rose to Rs 30,933 crore.

    Tata Communications share has risen 13.26% in last three days.

    The stock opened with a gain of 2.54% at Rs 1,090 today. Tata Communications share is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.

    The share has risen 174% in one year and gained 173.89% since the beginning of this year.

    Tata Communications stock hits all-time high after firm buys majority stake in French firm Oasis Smart SIM

  • 13:11 IST: Share of Tata Communications rose over 9% in early trade today after the firm acquired majority stake in French firm Oasis Smart SIM. Tata Communications share gained 9.3% to Rs 1,144.95, a fresh all-time high, against previous close of Rs 1048.35 on BSE. Market cap of the firm rose to Rs 30,933 crore.

    Tata Communications share has risen 13.26% in last three days.

    The stock opened with a gain of 2.54% at Rs 1,090 today. Tata Communications share is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.

    The share has risen 174% in one year and gained 173.89% since the beginning of this year.

    Tata Communications stock hits all-time high after firm buys majority stake in French firm Oasis Smart SIM

  • Dec 24, 2020 13:00 (IST)

    Infosys fastest wealth creator in 25 years, Reliance biggest: Motilal Oswal

    Infosys, the country's second largest software exporter, has emerged as the fastest wealth creator in the last 25 years. Mukesh Ambani's Reliance Industries turned out to be the biggest wealth creator in this period, according to a report by Motilal Oswal Financial Services.  

    IT major Infosys has given outstanding returns to long-term investors, offering a robust compound annual growth rate (CAGR) of 30 per cent to emerge as the fastest wealth creator between 1995 and 2020. It was also the fastest wealth multiplier, increasing stockholders' wealth by 688 times. The market cap of the Bengaluru-based company rose sharply from Rs 300 crore in 1995 to Rs 2.73 lakh crore in 2020. 

    Infosys fastest wealth creator in 25 years, Reliance biggest: Motilal Oswal

  • 13:00 IST: Infosys, the country's second largest software exporter, has emerged as the fastest wealth creator in the last 25 years. Mukesh Ambani's Reliance Industries turned out to be the biggest wealth creator in this period, according to a report by Motilal Oswal Financial Services.  

    IT major Infosys has given outstanding returns to long-term investors, offering a robust compound annual growth rate (CAGR) of 30 per cent to emerge as the fastest wealth creator between 1995 and 2020. It was also the fastest wealth multiplier, increasing stockholders' wealth by 688 times. The market cap of the Bengaluru-based company rose sharply from Rs 300 crore in 1995 to Rs 2.73 lakh crore in 2020. 

    Infosys fastest wealth creator in 25 years, Reliance biggest: Motilal Oswal

  • Dec 24, 2020 12:45 (IST)

    YES Bank share slips 1.7% in early trade

    YES Bank shares reversed from yesterday's bullish trend and fell by 1.7% on Thursday. YES Bank stock opened higher at Rs 17.85 and also hit an intraday high of Rs 17.97 in early session.

    However, shares erased early gains and fell 1.7% to hit the day's low of Rs 17.30 as against the last close of Rs 17.60 on BSE.

    Share of the private lender, with Rs 2 face value has fallen 4% in one week and over 65% in one year. YES Bank stock is trading higher than 20, 50 and 100-day moving averages but lower than 5, 200-day moving averages.

    YES Bank share slips nearly 2% in early trade

  • 12:45 IST: YES Bank shares reversed from yesterday's bullish trend and fell by 1.7% on Thursday. YES Bank stock opened higher at Rs 17.85 and also hit an intraday high of Rs 17.97 in early session.

    However, shares erased early gains and fell 1.7% to hit the day's low of Rs 17.30 as against the last close of Rs 17.60 on BSE.

    Share of the private lender, with Rs 2 face value has fallen 4% in one week and over 65% in one year. YES Bank stock is trading higher than 20, 50 and 100-day moving averages but lower than 5, 200-day moving averages.

    YES Bank share slips nearly 2% in early trade

  • Dec 24, 2020 12:31 (IST)

    Bharti Airtel share price gains 2.7% today

    Bharti Airtel share price opened with a gain of 2.31% today and later gained 2.7% intraday on Thursday to Rs 522.30 against the previous closing price of Rs 507.35 as the company added 36.74 lakh users in October against 37.8 lakh additions in September, 2020. Bharti Airtel share price is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.


     

  • 12:31 IST: Bharti Airtel share price opened with a gain of 2.31% today and later gained 2.7% intraday on Thursday to Rs 522.30 against the previous closing price of Rs 507.35 as the company added 36.74 lakh users in October against 37.8 lakh additions in September, 2020. Bharti Airtel share price is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.


     

  • Dec 24, 2020 12:26 (IST)

    Market update

    Market indices traded on a bullish note for third straight session on Thursday, amid positive global equities. Sensex rose by 403 points to 46,847 and Nifty gained by 114 points to 13,715

    ONGC, followed by Bharti Airtel, Bajaj Auto, Axis Bank, NTPC, Bajaj Finance, Titan, IndusInd Bank, HDFC duo and Reliance Industries were among the top gainers in the Sensex pack. On the other hand, Asian Paints, Infosys, Dr Reddy's Lab, TCS and Nestle India were among the laggards

  • 12:26 IST: Market indices traded on a bullish note for third straight session on Thursday, amid positive global equities. Sensex rose by 403 points to 46,847 and Nifty gained by 114 points to 13,715

    ONGC, followed by Bharti Airtel, Bajaj Auto, Axis Bank, NTPC, Bajaj Finance, Titan, IndusInd Bank, HDFC duo and Reliance Industries were among the top gainers in the Sensex pack. On the other hand, Asian Paints, Infosys, Dr Reddy's Lab, TCS and Nestle India were among the laggards

  • Dec 24, 2020 12:19 (IST)

    Dabur India outlook: Buy at revised TP of Rs 584

    Geojit Financial Services said in its note, "In Q2FY21, Revenue rose 13.7% YoY driven by healthy growth in the domestic and international market through the launch of new products and increase in demand. EBITDA margin stood at 22.6% (+50bps YoY) helped by cost reduction initiatives i.e. Samriddhi project. New product launches, pickup in economy post lockdown, efficient supply chain, and cost reduction initiatives will boost financials in medium to long term. Hence, we upgrade our rating to BUY on the stock with a revised target price of Rs. 584 based on 53x FY22E adj. EPS."

  • 12:19 IST: Geojit Financial Services said in its note, "In Q2FY21, Revenue rose 13.7% YoY driven by healthy growth in the domestic and international market through the launch of new products and increase in demand. EBITDA margin stood at 22.6% (+50bps YoY) helped by cost reduction initiatives i.e. Samriddhi project. New product launches, pickup in economy post lockdown, efficient supply chain, and cost reduction initiatives will boost financials in medium to long term. Hence, we upgrade our rating to BUY on the stock with a revised target price of Rs. 584 based on 53x FY22E adj. EPS."

  • Dec 24, 2020 12:08 (IST)

    Gold, Silver outlook: Buy target



    Anuj Gupta- DVP- Commodities and Currencies Research, Angel Broking said," Despite of President Donald Trump's threat of not signing the long awaited virus-relief spending package, markets continued to expect for a stimulus deal which underpinned the yellow metal prices. Inflations risk and a low interest rate environment has kept Gold prices elevated in 2020 as it is considered as a hedge. Moreover, weak economic data by U.S., worries over the new strain of coronavirus detected in UK and development with the Brexit negotiations added to the upside for Gold. Weak economic data posted by U.S., alarming increase in the covid19 cases around the globe and hopes over additional stimulus by US might levy some support for Gold. On the MCX, gold prices are expected to trade higher in today's session."

    He added," As for today traders can go for BUY in gold at Rs 50000 levels with the stop loss of Rs 49700 levels for the target of 50800 levels. They can also go for BUY in Silver at Rs 67200 levels, with the stop loss of 66200 levels and for the target of 69000 levels."

     

  • 12:08 IST:

    Anuj Gupta- DVP- Commodities and Currencies Research, Angel Broking said," Despite of President Donald Trump's threat of not signing the long awaited virus-relief spending package, markets continued to expect for a stimulus deal which underpinned the yellow metal prices. Inflations risk and a low interest rate environment has kept Gold prices elevated in 2020 as it is considered as a hedge. Moreover, weak economic data by U.S., worries over the new strain of coronavirus detected in UK and development with the Brexit negotiations added to the upside for Gold. Weak economic data posted by U.S., alarming increase in the covid19 cases around the globe and hopes over additional stimulus by US might levy some support for Gold. On the MCX, gold prices are expected to trade higher in today's session."

    He added," As for today traders can go for BUY in gold at Rs 50000 levels with the stop loss of Rs 49700 levels for the target of 50800 levels. They can also go for BUY in Silver at Rs 67200 levels, with the stop loss of 66200 levels and for the target of 69000 levels."

     

  • Dec 24, 2020 12:00 (IST)

    InterGlobe Aviation technical outlook


    Reliance Research in its technical report said,"The stock has witnessed sharp up-move since its bullish cross-over has taken place between its 20-day and 50-day EMAs. In case of decline, the stock reversed twice after testing its upward slopping moving averages and moved northwards. Few days back, the stock oscillated at around its 20-day EMA. Yesterday, the stock has given breakout from near-term consolidation and resumed its up-move. Since three and half months, its RSI managed to hold at 50-mark decisively, which signals strength in the stock. We believe undergoing positive momentum will continue and the stock will test Rs1,710 mark initially and Rs1,899 level subsequently. On the lower side, the stock will find strong support at around its 50-day EMA. Stop loss will trigger at Rs1,440 (on closing basis) and will negate the view."

  • 12:00 IST:
    Reliance Research in its technical report said,"The stock has witnessed sharp up-move since its bullish cross-over has taken place between its 20-day and 50-day EMAs. In case of decline, the stock reversed twice after testing its upward slopping moving averages and moved northwards. Few days back, the stock oscillated at around its 20-day EMA. Yesterday, the stock has given breakout from near-term consolidation and resumed its up-move. Since three and half months, its RSI managed to hold at 50-mark decisively, which signals strength in the stock. We believe undergoing positive momentum will continue and the stock will test Rs1,710 mark initially and Rs1,899 level subsequently. On the lower side, the stock will find strong support at around its 50-day EMA. Stop loss will trigger at Rs1,440 (on closing basis) and will negate the view."

  • Dec 24, 2020 11:56 (IST)

    Rupee surges 14 paise to 73.62

    Indian rupee, the domestic currency appreciated by 14 paise to 73.62 per US dollar on Thursday' opening trade as sustained foreign fund inflows and hectic buying in domestic equities strengthened investor sentiment. Weakness of the American currency in the overseas market also supported the domestic unit.

    Rupee opened at 73.66 against the US dollar at the interbank forex market, then inched higher by 14 paise to 73.62 against the greenback, over its previous close.

    Rupee surges 14 paise to 73.62 amid weak US dollar, positive equities

  • 11:56 IST: Indian rupee, the domestic currency appreciated by 14 paise to 73.62 per US dollar on Thursday' opening trade as sustained foreign fund inflows and hectic buying in domestic equities strengthened investor sentiment. Weakness of the American currency in the overseas market also supported the domestic unit.

    Rupee opened at 73.66 against the US dollar at the interbank forex market, then inched higher by 14 paise to 73.62 against the greenback, over its previous close.

    Rupee surges 14 paise to 73.62 amid weak US dollar, positive equities

  • Dec 24, 2020 11:44 (IST)

    Mrs Bectors Food share makes stellar market debut

    Mrs Bectors Food made a stellar debut on stock market today with its share listing at a premium of 73.9% to the issue price.  Share of Mrs Bectors Food opened at Rs 501 against its IPO issue price of Rs 288. The share further rose to Rs 600 intra day, a 108% premium above the issue price.

    Market cap of the firm rose to Rs 3,374 crore.

    Mrs Bectors Food share makes stellar market debut, lists at 74% premium to issue price

  • 11:44 IST: Mrs Bectors Food made a stellar debut on stock market today with its share listing at a premium of 73.9% to the issue price.  Share of Mrs Bectors Food opened at Rs 501 against its IPO issue price of Rs 288. The share further rose to Rs 600 intra day, a 108% premium above the issue price.

    Market cap of the firm rose to Rs 3,374 crore.

    Mrs Bectors Food share makes stellar market debut, lists at 74% premium to issue price

  • Dec 24, 2020 11:32 (IST)

    Stocks to watch today on December 24



    Stocks to watch today on December 24:  Mrs Bectors Food, Airtel, RIL, HDFC, Tata Communications, Aurobindo Pharma among others are the top stocks to watch out for in Thursday's trading session

    Stocks in news: Mrs Bectors Food, Airtel, RIL, HDFC, Tata Communications, Aurobindo Pharma

  • 11:32 IST:

    Stocks to watch today on December 24:  Mrs Bectors Food, Airtel, RIL, HDFC, Tata Communications, Aurobindo Pharma among others are the top stocks to watch out for in Thursday's trading session

    Stocks in news: Mrs Bectors Food, Airtel, RIL, HDFC, Tata Communications, Aurobindo Pharma

  • Dec 24, 2020 11:21 (IST)

    Listing of Bectors Food


    Keshav Lahoti-Associate Equity Analyst, Angel Broking said,"As expected, Mrs Bector made a stellar listing at the exchange by listing at 73.6% above its issue price at Rs.500. Within a few minutes of listing, stock touched Rs.600. As stock is giving more than 100% return at the issue price, short term investors can consider booking profit. Now, stock is trading at 57.2x PE on a trailing basis. Currently, on a trailing PE basis, Britannia Industries, Nestle India, Prataap Snacks and DFM Foods are trading at 49.0x, 86.8x, 57.6x and 97.3x respectively. Although we are bullish on Mrs Bector long term prospects, at these valuation, we believe there are better investment options available in the FMCG space in the market. "

  • 11:21 IST:
    Keshav Lahoti-Associate Equity Analyst, Angel Broking said,"As expected, Mrs Bector made a stellar listing at the exchange by listing at 73.6% above its issue price at Rs.500. Within a few minutes of listing, stock touched Rs.600. As stock is giving more than 100% return at the issue price, short term investors can consider booking profit. Now, stock is trading at 57.2x PE on a trailing basis. Currently, on a trailing PE basis, Britannia Industries, Nestle India, Prataap Snacks and DFM Foods are trading at 49.0x, 86.8x, 57.6x and 97.3x respectively. Although we are bullish on Mrs Bector long term prospects, at these valuation, we believe there are better investment options available in the FMCG space in the market. "

  • Dec 24, 2020 11:16 (IST)

    Aurobindo Pharma share price gains 2% today

    Aurobindo Pharma share price has been gaining for the last 3 days and has risen 6.44% returns in the period. Aurobindo Pharma stock touched an intraday high of Rs 910 (2.26%). Aurobindo Pharma is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.

    This was after the company signed exclusive agreement with COVAXX to develop and commercialise COVID vaccine UB-612 for India and UNICEF.

  • 11:16 IST: Aurobindo Pharma share price has been gaining for the last 3 days and has risen 6.44% returns in the period. Aurobindo Pharma stock touched an intraday high of Rs 910 (2.26%). Aurobindo Pharma is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.

    This was after the company signed exclusive agreement with COVAXX to develop and commercialise COVID vaccine UB-612 for India and UNICEF.

  • Dec 24, 2020 10:58 (IST)

    Glenmark Pharma outlook

    Yash Gupta Equity Research Associate, Angel Broking said," Glenmark Pharma stock by more than 2% on back of positive development of entering into a Exclusive Licensing Agreement for commercializing Ryaltris. Glenmark Pharmaceuticals and Menarini enter into Exclusive Licensing Agreement for commercializing Ryaltris Nasal Spray across numerous markets throughout Europe. The licensing agreement will be effective in 33 countries throughout the European region including France, Italy, and Spain. Under the terms of the agreement, Glenmark will be responsible for the development and regulatory approval of Ryaltris by relevant European Regulatory Authorities, while Menarini Group will be responsible for the commercialization of Ryaltris across these markets. Glenmark will receive an upfront payment as well as launch & sales based milestone payments from sales of Ryaltris. Ryaltris [olopatadine hydrochloride (665 mcg) and mometasone furoate (25 mcg)], developed by Glenmark, is a novel fixed-dose combination nasal spray of an anti-histamine and a steroid, indicated for treatment of symptoms associated with seasonal allergic rhinitis (SAR) in patients over 12 years of age. This could be a very important agreement for glenmark but lot of risk relating to development and regulatory approval is with glenmark itself."

     

  • 10:58 IST: Yash Gupta Equity Research Associate, Angel Broking said," Glenmark Pharma stock by more than 2% on back of positive development of entering into a Exclusive Licensing Agreement for commercializing Ryaltris. Glenmark Pharmaceuticals and Menarini enter into Exclusive Licensing Agreement for commercializing Ryaltris Nasal Spray across numerous markets throughout Europe. The licensing agreement will be effective in 33 countries throughout the European region including France, Italy, and Spain. Under the terms of the agreement, Glenmark will be responsible for the development and regulatory approval of Ryaltris by relevant European Regulatory Authorities, while Menarini Group will be responsible for the commercialization of Ryaltris across these markets. Glenmark will receive an upfront payment as well as launch & sales based milestone payments from sales of Ryaltris. Ryaltris [olopatadine hydrochloride (665 mcg) and mometasone furoate (25 mcg)], developed by Glenmark, is a novel fixed-dose combination nasal spray of an anti-histamine and a steroid, indicated for treatment of symptoms associated with seasonal allergic rhinitis (SAR) in patients over 12 years of age. This could be a very important agreement for glenmark but lot of risk relating to development and regulatory approval is with glenmark itself."

     

  • Dec 24, 2020 10:53 (IST)

    Bharat Forge share price falls 5% today



    Bharat Forge share price touched an intraday low of Rs 510 (-5.35%) after company announced that it's German subsidiary companies reached settlement with Germany's national competition regulator Federal Cartel Office in connection with two separate proceedings. Bharat Forge share price trades higher than 50 day, 100 day and 200 day moving averages but lower than 5 day and 20 day moving averages

     

  • 10:53 IST:

    Bharat Forge share price touched an intraday low of Rs 510 (-5.35%) after company announced that it's German subsidiary companies reached settlement with Germany's national competition regulator Federal Cartel Office in connection with two separate proceedings. Bharat Forge share price trades higher than 50 day, 100 day and 200 day moving averages but lower than 5 day and 20 day moving averages

     

  • Dec 24, 2020 10:42 (IST)

    Antony Waste Handling Cell IPO



    Keshav Lahoti-Associate Equity Analyst, Angel Broking said,"Antony Waste Handling Cell issue was subscribed 15 times by the end of the issue, unlike last time in March'20 when the issue was not even subscribed a single time. Non institutional portion was subscribed most by 18.7 times. Retail portion and qualified institutional buyer portion was subscribed by 16.5 times and 9.7 times respectively. Although Antony got a way better response compared to last time in March'20 when it was raising funds from the market. If I compare Antony IPO response with last few IPO such as Burger King, Mrs Bector; the response from investors for Antony has not been as good as these IPO. Business is dependent on a limited number of customers for a significant portion of the revenue. So considering the valuation of P/E of 11.5x on FY20 basis (at the upper price band), we recommended “NEUTRAL” rating on the issue.

  • 10:42 IST:

    Keshav Lahoti-Associate Equity Analyst, Angel Broking said,"Antony Waste Handling Cell issue was subscribed 15 times by the end of the issue, unlike last time in March'20 when the issue was not even subscribed a single time. Non institutional portion was subscribed most by 18.7 times. Retail portion and qualified institutional buyer portion was subscribed by 16.5 times and 9.7 times respectively. Although Antony got a way better response compared to last time in March'20 when it was raising funds from the market. If I compare Antony IPO response with last few IPO such as Burger King, Mrs Bector; the response from investors for Antony has not been as good as these IPO. Business is dependent on a limited number of customers for a significant portion of the revenue. So considering the valuation of P/E of 11.5x on FY20 basis (at the upper price band), we recommended “NEUTRAL” rating on the issue.

  • Dec 24, 2020 10:35 (IST)

    Market update

    Sensex rose by 320 points to 46,770 and Nifty gained by 83 points to 13,684

  • 10:35 IST: Sensex rose by 320 points to 46,770 and Nifty gained by 83 points to 13,684

  • Dec 24, 2020 10:34 (IST)

    Market outlook

     On markets opening --Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments said,"The Nifty has nudged the 13700 level upon opening. Since it is a truncated week, we would need to evaluate the Nifty on Monday. If we are able to keep above the 13700 level, we could go up to 13850 and then 14000. A strong support for the market has now been created at 13100. As long as that holds, we are in bullish terrain."

     

  • 10:34 IST:  On markets opening --Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments said,"The Nifty has nudged the 13700 level upon opening. Since it is a truncated week, we would need to evaluate the Nifty on Monday. If we are able to keep above the 13700 level, we could go up to 13850 and then 14000. A strong support for the market has now been created at 13100. As long as that holds, we are in bullish terrain."

     

  • Dec 24, 2020 10:29 (IST)

    Caplin Point share price gains 3.8% today





    Caplin Point stock opened with a gain of 2.06% today and touched an intraday high of Rs 515 (3.87%) after the company received US FDA nod for generic of sedative drug Amidate. Stock has been gaining for the last 2 days and has risen 6.8% returns in the period. It trades higher than 5 day, 20 day, 50 day and 200 day moving averages but lower than 100 day moving averages.

  • 10:29 IST:



    Caplin Point stock opened with a gain of 2.06% today and touched an intraday high of Rs 515 (3.87%) after the company received US FDA nod for generic of sedative drug Amidate. Stock has been gaining for the last 2 days and has risen 6.8% returns in the period. It trades higher than 5 day, 20 day, 50 day and 200 day moving averages but lower than 100 day moving averages.

  • Dec 24, 2020 10:22 (IST)

    Global markets mostly bullish today

    Asian markets are trading higher with Alibaba shares in focus as it plunged following reports that Chinese regulators will probe the firm. US markets closed higher even after data showed that bounce back in economic activity remained volatile amid recent spike in coronavirus cases. European markets closed higher as investors expected that a post Brexit deal could be reached soon amid concerns over US coronavirus relief package.

  • 10:22 IST: Asian markets are trading higher with Alibaba shares in focus as it plunged following reports that Chinese regulators will probe the firm. US markets closed higher even after data showed that bounce back in economic activity remained volatile amid recent spike in coronavirus cases. European markets closed higher as investors expected that a post Brexit deal could be reached soon amid concerns over US coronavirus relief package.

  • Dec 24, 2020 09:50 (IST)

    Nifty outlook: 13650 price objective





    Geojit Financial Services said," The 13650 price objective, that has been on discussion in the last two days should be fully achieved today. However, this need not force a turn lower, and intraday upsides may still continue, as long as above 13590, but a breach of 13777 looks less likely today. Meanwhile, inability to float above 13590 may bring in volatility, but downside plays aiming 13450-380 need to be initiated only on breach of 13520, and until then upside hopes may prevail."

  • 09:50 IST:



    Geojit Financial Services said," The 13650 price objective, that has been on discussion in the last two days should be fully achieved today. However, this need not force a turn lower, and intraday upsides may still continue, as long as above 13590, but a breach of 13777 looks less likely today. Meanwhile, inability to float above 13590 may bring in volatility, but downside plays aiming 13450-380 need to be initiated only on breach of 13520, and until then upside hopes may prevail."

  • Dec 24, 2020 09:43 (IST)

    Market outlook: Increased retail investor participation

     Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services said,"Retail investor participation at 7% now is growing. This is a desirable trend since it accelerates the financialization of savings and promotes inclusive growth. However, retail investors are committing mistakes: Many are buying low-grade stocks and there are many instances of stopping SIPs. These are unhealthy trends. For the majority of retail investors, the ideal route to market participation  is through mutual fund SIPs"

  • 09:43 IST:  Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services said,"Retail investor participation at 7% now is growing. This is a desirable trend since it accelerates the financialization of savings and promotes inclusive growth. However, retail investors are committing mistakes: Many are buying low-grade stocks and there are many instances of stopping SIPs. These are unhealthy trends. For the majority of retail investors, the ideal route to market participation  is through mutual fund SIPs"

  • Dec 24, 2020 09:34 (IST)

    Mrs Bectors Food: share price debuts 84% higher today




    Mrs Bectors Food share price gained by 84% intraday or 243 points to Rs 531, its debut price as against its issue price of Rs 288, on its listing day.


    Mrs Bectors Food Specialities, recently concluded its Rs 541-crore initial public offering.

     

  • 09:34 IST:


    Mrs Bectors Food share price gained by 84% intraday or 243 points to Rs 531, its debut price as against its issue price of Rs 288, on its listing day.


    Mrs Bectors Food Specialities, recently concluded its Rs 541-crore initial public offering.

     

  • Dec 24, 2020 09:24 (IST)

    Opening session: Markets trades higher for 3rd day

    Market indices opened on a bullish note for third consecutive session on Thursday, amid positive global equities. SGX Nifty on the Singapore Exchange was rising by 90 points, indicating positive trend in domestic grounds today. Sensex rose by 320 points to 46,770 and Nifty gained by 83 points to 13,684

  • 09:24 IST: Market indices opened on a bullish note for third consecutive session on Thursday, amid positive global equities. SGX Nifty on the Singapore Exchange was rising by 90 points, indicating positive trend in domestic grounds today. Sensex rose by 320 points to 46,770 and Nifty gained by 83 points to 13,684

  • Dec 24, 2020 09:21 (IST)

    Global equities trade in positive territory

    Global equities were buoyed today over an expected stimulus deal in US and focussed on a long-elusive post-Brexit trade agreement between Britain and the European Union, which is expected to be finalised soon.

  • 09:21 IST: Global equities were buoyed today over an expected stimulus deal in US and focussed on a long-elusive post-Brexit trade agreement between Britain and the European Union, which is expected to be finalised soon.

  • Dec 24, 2020 09:16 (IST)

    Nifty support placed around 13,482, 13,364 level

    Reliance Smartmoney Reserch said in its  report,"  NSE-NIFTY extended gain post Bullish Harami Pattern and regained 13,600 mark. Yesterday, IT, media and realty space remained in focus with positive momentum. As mentioned earlier, we continue to believe that the index will either consolidate in the narrow range or it will witness gradual decline. In case of consolidation, the index will oscillate between 13,150 and 13,650 levels, while gradual decline could drag the index towards 12,750 mark. A stable move above 13,650 mark will strengthen the index for its next leg of up-move, which could take the index towards 14,000 level.

    As for the day, support is placed at around 13,482 and then at 13,364 levels, while resistance is observed at 13,670 and then at 13,738 levels."

  • 09:16 IST: Reliance Smartmoney Reserch said in its  report,"  NSE-NIFTY extended gain post Bullish Harami Pattern and regained 13,600 mark. Yesterday, IT, media and realty space remained in focus with positive momentum. As mentioned earlier, we continue to believe that the index will either consolidate in the narrow range or it will witness gradual decline. In case of consolidation, the index will oscillate between 13,150 and 13,650 levels, while gradual decline could drag the index towards 12,750 mark. A stable move above 13,650 mark will strengthen the index for its next leg of up-move, which could take the index towards 14,000 level.

    As for the day, support is placed at around 13,482 and then at 13,364 levels, while resistance is observed at 13,670 and then at 13,738 levels."

  • Dec 24, 2020 09:11 (IST)

    FII action on Wednesday

    Foreign portfolio investors (FPIs) bought shares worth Rs 536.13 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 1,326.92 crore in the Indian equity market on 23 December, provisional data showed.


     

  • 09:11 IST: Foreign portfolio investors (FPIs) bought shares worth Rs 536.13 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 1,326.92 crore in the Indian equity market on 23 December, provisional data showed.


     

  • Dec 24, 2020 09:02 (IST)

    Closing on Wednesday

    Market indices closed on a bullish note for the second straight session on Wednesday, taking cues from positive global equities. Sensex ended 437 points higher at 46,444 and Nifty gained by 134 points to 13,601.

    On the currency front, the rupee pared most of its initial losses and settled for the day 8 paise higher at 73.76 per US dollar, tracking a rebound in domestic equities.

  • 09:02 IST: Market indices closed on a bullish note for the second straight session on Wednesday, taking cues from positive global equities. Sensex ended 437 points higher at 46,444 and Nifty gained by 134 points to 13,601.

    On the currency front, the rupee pared most of its initial losses and settled for the day 8 paise higher at 73.76 per US dollar, tracking a rebound in domestic equities.