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Share Market Highlights: Sensex ends 452 points higher, Nifty at 13,466; Infosys, HCL Tech top gainers

December 22,2020 17:34 IST

Sensex, Nifty Highlights on December 22: After a 3% fall on Monday, market indices reversed the trend and closed sharply positive on Tuesday, amid mixed global equities as additional US stimulus package capped losses after the new COVID-19 strain in the UK triggered a global selloff

 

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  • Recovering from earlier losses in a volatile trading session, Sensex ended 452 points higher at 46,006 and Nifty gained by 137 points to 13,466
  • Dec 22, 2020 16:03 (IST)

    Closing

    After a 3% fall on Monday, market indices reversed the trend and closed sharply positive on Tuesday, amid mixed global equities as additional US stimulus package capped losses after the new COVID-19 strain in the UK triggered a global selloff. Recovering from earlier losses in a volatile trading session, Sensex ended 452 points higher at 46,006 and Nifty gained by 137 points to 13,466

  • 16:03 IST: After a 3% fall on Monday, market indices reversed the trend and closed sharply positive on Tuesday, amid mixed global equities as additional US stimulus package capped losses after the new COVID-19 strain in the UK triggered a global selloff. Recovering from earlier losses in a volatile trading session, Sensex ended 452 points higher at 46,006 and Nifty gained by 137 points to 13,466

  • Dec 22, 2020 15:46 (IST)

    Lupin share price outlook



    Yash Gupta Equity Research Associate, Angel Broking said,"Lupin up by 2% at 948 on positive news of getting approval from USFDA for s Rufinamide Oral Suspension. Lupin Limited announced that it has received approval for its Rufinamide Oral Suspension, 40 mg/ml, from the United States Food and Drug Administration(USFDA), to market a generic equivalent of Banzel® Oral Suspension, 40 mg/ml, of Eisai Inc. Rufinamide Oral Suspension, 40 mg/ml is indicated for adjunctive treatment of seizures associated with Lennox-Gastaut syndrome (LGS) in pediatric patients 1 year of age and older, and in adults. Rufinamide Oral Suspension, 40 mg/ ml (RLD: Banzel) had estimated annual sales of USD 124.5 million in the U.S. (IQVIA MAT September 2020).This is positive development for the company and will help company to grow its USA market we expect launch of this medicine with next 3-6 Months. "

     

  • 15:46 IST:

    Yash Gupta Equity Research Associate, Angel Broking said,"Lupin up by 2% at 948 on positive news of getting approval from USFDA for s Rufinamide Oral Suspension. Lupin Limited announced that it has received approval for its Rufinamide Oral Suspension, 40 mg/ml, from the United States Food and Drug Administration(USFDA), to market a generic equivalent of Banzel® Oral Suspension, 40 mg/ml, of Eisai Inc. Rufinamide Oral Suspension, 40 mg/ml is indicated for adjunctive treatment of seizures associated with Lennox-Gastaut syndrome (LGS) in pediatric patients 1 year of age and older, and in adults. Rufinamide Oral Suspension, 40 mg/ ml (RLD: Banzel) had estimated annual sales of USD 124.5 million in the U.S. (IQVIA MAT September 2020).This is positive development for the company and will help company to grow its USA market we expect launch of this medicine with next 3-6 Months. "

     

  • Dec 22, 2020 15:43 (IST)

    Market outlook at close

    On markets closing --Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments saiid,"For the time being, the markets are directionless. Yesterday's fall has made traders nervous and since the volatility is high, the stops will be large too. It is therefore advised to wait and watch for a few days till a clear direction is confirmed. 13100-13150 is a medium term support for the Nifty and if that were to break, we could slide down to 12800."

     

  • 15:43 IST: On markets closing --Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments saiid,"For the time being, the markets are directionless. Yesterday's fall has made traders nervous and since the volatility is high, the stops will be large too. It is therefore advised to wait and watch for a few days till a clear direction is confirmed. 13100-13150 is a medium term support for the Nifty and if that were to break, we could slide down to 12800."

     

  • Dec 22, 2020 15:39 (IST)

    IT stocks gain momentum

    The Nifty sectoral indices were largely in the green on Tuesday's volatile session, with Nifty IT index, up 2% leading the list of gainers. Most IT stocks, including Mindtree, HCL Tech, Tech Mahindra, Infosys and TCS traded in the green in morning trade on Tuesday after global financial firm Goldman Sachs resumed coverage on the IT sector and said the third wave of the IT outsourcing cycle is ahead.

    The Nifty IT index was up about 2%, with Birlasoft, Infosys and L&T Infotech hitting thir respective 52 week highs today.

    "We resume coverage of Indian IT with a strong positive outlook," Goldman Sachs said in its report and gave a 'buy' rating to IT majors like Infosys, Mindtree, TCS, Tech Mahindra & Mphasis. The brokerae house gave a 'sell' on Wipro and a 'neutral' on HCL Tech and L&T Infotech

    While Infosys rose 3.66% to day's as well as an all time high of Rs 1,219.4 today, TCS was trading 2% higher at Rs 2,874. Mindtree gained over 7% intraday to Rs 1,529, HCL Tech gained 4.48% to Rs 908, its new high. Tech Mahindra also hit a new high of Rs 942.15, rising 3.97% higher intraday.

     

  • 15:39 IST: The Nifty sectoral indices were largely in the green on Tuesday's volatile session, with Nifty IT index, up 2% leading the list of gainers. Most IT stocks, including Mindtree, HCL Tech, Tech Mahindra, Infosys and TCS traded in the green in morning trade on Tuesday after global financial firm Goldman Sachs resumed coverage on the IT sector and said the third wave of the IT outsourcing cycle is ahead.

    The Nifty IT index was up about 2%, with Birlasoft, Infosys and L&T Infotech hitting thir respective 52 week highs today.

    "We resume coverage of Indian IT with a strong positive outlook," Goldman Sachs said in its report and gave a 'buy' rating to IT majors like Infosys, Mindtree, TCS, Tech Mahindra & Mphasis. The brokerae house gave a 'sell' on Wipro and a 'neutral' on HCL Tech and L&T Infotech

    While Infosys rose 3.66% to day's as well as an all time high of Rs 1,219.4 today, TCS was trading 2% higher at Rs 2,874. Mindtree gained over 7% intraday to Rs 1,529, HCL Tech gained 4.48% to Rs 908, its new high. Tech Mahindra also hit a new high of Rs 942.15, rising 3.97% higher intraday.

     

  • Dec 22, 2020 15:32 (IST)

    Market update

    In a volatile trading session, Sensex gained by 452 points to 46,006 and Nifty gained by 136 points to 13,456

  • 15:32 IST: In a volatile trading session, Sensex gained by 452 points to 46,006 and Nifty gained by 136 points to 13,456

  • Dec 22, 2020 15:30 (IST)

    Market outlook

    Yash Gupta Equity Research Associate, Angel Broking said,"Indian indices are volatile on back of global market clues along with fear of New coronavirus strain in the UK. India and other countries have taken some steps to stop this virus from entering the country. We expect the market to be very volatile and VIX again at 25.16. We suggest short term traders to be very caution and trade only with stoploss. Today S&P BSE Telecom (up 1.18% ), S&P BSE Information Technology (up 0.88%) while S&P BSE REALTY (down 1.57%), S&P BSE Energy (down 1.38%). Global Market update - DOW Jones up by 37 points (up 0.12%) and NASDAQ down by 12 points (up 0.10%). Indian Indices Nifty and Sensex down by 63 points (0.47%) and 210 points (0.47%) respectively.

     

  • 15:30 IST: Yash Gupta Equity Research Associate, Angel Broking said,"Indian indices are volatile on back of global market clues along with fear of New coronavirus strain in the UK. India and other countries have taken some steps to stop this virus from entering the country. We expect the market to be very volatile and VIX again at 25.16. We suggest short term traders to be very caution and trade only with stoploss. Today S&P BSE Telecom (up 1.18% ), S&P BSE Information Technology (up 0.88%) while S&P BSE REALTY (down 1.57%), S&P BSE Energy (down 1.38%). Global Market update - DOW Jones up by 37 points (up 0.12%) and NASDAQ down by 12 points (up 0.10%). Indian Indices Nifty and Sensex down by 63 points (0.47%) and 210 points (0.47%) respectively.

     

  • Dec 22, 2020 15:29 (IST)

    Embassy Office Parks REIT outlook



    Embassy Office Parks REIT share price traded 0.2% lower in early deals today. However, shares traded 2% higher at Rs 378 later in the session.

    Yash Gupta Equity Research Associate, Angel Broking said," Embassy Office Parks REIT India's first listed REIT and one of the largest in Asia by area, announced that the company has successfully completed a unit capital raise of Rs 36.8 billion ($501 million) through an Institutional Placement of units. Board has approved the issuance and allotment of 111,335,400 new units through this Institutional Placement in a meeting held earlier today, i.e., on December 22, 2020.Trading of these units is expected to commence on or around December 24, 2020 on NSE and BSE exchanges. The Institutional Placement launched on December 15, 2020 and witnessed strong demand from both existing as well as new institutional investors, including global and domestic investors, pension funds, insurers, and alternative asset managers. This is positive development for embassy reit and great to see the huge demand for REIT in India. "   

     

  • 15:29 IST:

    Embassy Office Parks REIT share price traded 0.2% lower in early deals today. However, shares traded 2% higher at Rs 378 later in the session.

    Yash Gupta Equity Research Associate, Angel Broking said," Embassy Office Parks REIT India's first listed REIT and one of the largest in Asia by area, announced that the company has successfully completed a unit capital raise of Rs 36.8 billion ($501 million) through an Institutional Placement of units. Board has approved the issuance and allotment of 111,335,400 new units through this Institutional Placement in a meeting held earlier today, i.e., on December 22, 2020.Trading of these units is expected to commence on or around December 24, 2020 on NSE and BSE exchanges. The Institutional Placement launched on December 15, 2020 and witnessed strong demand from both existing as well as new institutional investors, including global and domestic investors, pension funds, insurers, and alternative asset managers. This is positive development for embassy reit and great to see the huge demand for REIT in India. "   

     

  • Dec 22, 2020 15:00 (IST)

    Antony Waste Handling Cell IPO


    Keshav Lahoti, Associate Equity Analyst, Angel Broking said," Antony Waste Handling Cell anchor book has been fully subscribed by raising Rs.90 crore from 10 investors. 44.4% of the anchor book was subscribed by Massachusetts Institute of Technology. The anchor allotment was done at the higher price band of Rs.315. Anchor investors of the issue were Tata AIG General Insurance Company, 238 Plan Associates LLC.

    The issue was subscribed 2 times on the day one, unlike last time in March'20 when the issue was not even subscribed a single time. We don't expect Antony to get strong demand like the last few IPO such as Burger King, Mrs Bector etc

    Company is present in the fast-growing municipal solid waste management industry with end-to-end capabilities. Company has a strong track record of project execution. It also has signed long term contracts with municipalities. Although we cannot ignore the inherent risk in the business model such as business is dependent on municipal authorities for a substantial proportion of the revenue. This business involves receivables risk from municipalities, which can lead to financial instability for the company. This also restricts further investment in asset development. 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."

     

  • 15:00 IST:
    Keshav Lahoti, Associate Equity Analyst, Angel Broking said," Antony Waste Handling Cell anchor book has been fully subscribed by raising Rs.90 crore from 10 investors. 44.4% of the anchor book was subscribed by Massachusetts Institute of Technology. The anchor allotment was done at the higher price band of Rs.315. Anchor investors of the issue were Tata AIG General Insurance Company, 238 Plan Associates LLC.

    The issue was subscribed 2 times on the day one, unlike last time in March'20 when the issue was not even subscribed a single time. We don't expect Antony to get strong demand like the last few IPO such as Burger King, Mrs Bector etc

    Company is present in the fast-growing municipal solid waste management industry with end-to-end capabilities. Company has a strong track record of project execution. It also has signed long term contracts with municipalities. Although we cannot ignore the inherent risk in the business model such as business is dependent on municipal authorities for a substantial proportion of the revenue. This business involves receivables risk from municipalities, which can lead to financial instability for the company. This also restricts further investment in asset development. 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 22, 2020 14:55 (IST)

    Wendt India share slips 8% in early trade




    Wendt India shares were trading 8% lower on Tuesday morning after Carborundum Universal and Wendt GmBH, the promoters of the company, decided to withdraw the proposed offer for sale (OFS) of shares.
     
    Wendt India stock opened with a loss of 6.68% today at Rs 2,925.90 and fell 8.4% to hit the day's low of Rs 2,871 during the session against the last close of Rs 3,135.20. The stock also hit an intraday high of Rs 3,057.10.

    Wendt India share has lost 9.96% in the last 2 days of consecutive fall and  3% in a month. Shares with Rs 10 face value has risen over 8% in one year. Wendt India stock is trading higher than 200-day moving averages but lower than 5, 20,50 and 100-day moving averages.

     

  • 14:55 IST:


    Wendt India shares were trading 8% lower on Tuesday morning after Carborundum Universal and Wendt GmBH, the promoters of the company, decided to withdraw the proposed offer for sale (OFS) of shares.
     
    Wendt India stock opened with a loss of 6.68% today at Rs 2,925.90 and fell 8.4% to hit the day's low of Rs 2,871 during the session against the last close of Rs 3,135.20. The stock also hit an intraday high of Rs 3,057.10.

    Wendt India share has lost 9.96% in the last 2 days of consecutive fall and  3% in a month. Shares with Rs 10 face value has risen over 8% in one year. Wendt India stock is trading higher than 200-day moving averages but lower than 5, 20,50 and 100-day moving averages.

     

  • Dec 22, 2020 14:30 (IST)

    Market rises further

    After a 3% fall on Monday, market indices reversed the trend and turned positive on Tuesday, amid mixed global equities as additional US stimulus package capped losses after the new COVID-19 strain in the UK triggered a global selloff. In a volatile trading session, Sensex gained by 350 points to 45,630 and Nifty gained by 115 points to 13,480

  • 14:30 IST: After a 3% fall on Monday, market indices reversed the trend and turned positive on Tuesday, amid mixed global equities as additional US stimulus package capped losses after the new COVID-19 strain in the UK triggered a global selloff. In a volatile trading session, Sensex gained by 350 points to 45,630 and Nifty gained by 115 points to 13,480

  • Dec 22, 2020 14:25 (IST)

    Sadbhav Engineering outlook



    Sadbhav Engineering share price gained after 3 days of consecutive fall and touched an intraday high of Rs 64.45 (10.74%) on BSE today.

    Amarjeet Maurya - AVP - Mid Caps, Angel Broking said,"Sadbhav Engineering is engaged in the business of development of infrastructure facilities in areas of canals, irrigations projects, roads, bridges, etc. The company has been declared as lowest bidder by Gujarat Metro Rail Corporation (GMRC) Limited for the Metro Rail projects which cost is around ~Rs780cr and award is expected to receive soon from Gujarat Metro Rail Corporation. As on 2QFY21, the company has order book Is around ~Rs9,397cr (which provides revenue visibility ~2.7x of FY20 revenue).

     

  • 14:25 IST:

    Sadbhav Engineering share price gained after 3 days of consecutive fall and touched an intraday high of Rs 64.45 (10.74%) on BSE today.

    Amarjeet Maurya - AVP - Mid Caps, Angel Broking said,"Sadbhav Engineering is engaged in the business of development of infrastructure facilities in areas of canals, irrigations projects, roads, bridges, etc. The company has been declared as lowest bidder by Gujarat Metro Rail Corporation (GMRC) Limited for the Metro Rail projects which cost is around ~Rs780cr and award is expected to receive soon from Gujarat Metro Rail Corporation. As on 2QFY21, the company has order book Is around ~Rs9,397cr (which provides revenue visibility ~2.7x of FY20 revenue).

     

  • Dec 22, 2020 14:20 (IST)

    Nifty technical outlook



    Sameet Chavan (Chief Analyst-Technical and Derivatives, Angel Broking): said," Any bounce back towards 13450 – 13550 is likely to get sold into; whereas on the lower side, Nifty has reached its first level of retracement i.e. the ’89-EMA’ level (13100) on the ‘180-minutes’ chart. Ideally, the next level of the natural profit booking is around 12800, which is the ‘200-SMA’ level on the same time frame chart. But before this, yesterday’s low of 13130, would be seen as immediate support for the index.
     
    Traders are continuously advised to stay light and avoid taking contradictory bets in the coming session. With a larger view, this correction should be interpreted as a healthy sign and it will certainly provide better opportunities to enter marquee names on correction. But for momentum traders, the way chart structure seems distorted; it has certainly dented the recent optimism."

     

  • 14:20 IST:

    Sameet Chavan (Chief Analyst-Technical and Derivatives, Angel Broking): said," Any bounce back towards 13450 – 13550 is likely to get sold into; whereas on the lower side, Nifty has reached its first level of retracement i.e. the ’89-EMA’ level (13100) on the ‘180-minutes’ chart. Ideally, the next level of the natural profit booking is around 12800, which is the ‘200-SMA’ level on the same time frame chart. But before this, yesterday’s low of 13130, would be seen as immediate support for the index.
     
    Traders are continuously advised to stay light and avoid taking contradictory bets in the coming session. With a larger view, this correction should be interpreted as a healthy sign and it will certainly provide better opportunities to enter marquee names on correction. But for momentum traders, the way chart structure seems distorted; it has certainly dented the recent optimism."

     

  • Dec 22, 2020 13:59 (IST)

    Rupee depreciates 16 paise to 73.95



    Indian rupee, the domestic currency depreciated by 16 paise to 73.95 per US dollar on Tuesday's opening trade tracking muted domestic equities and weakened risk appetite amid concerns about a new virus strain.

    Traders said rupee is trading on a weak note against the US dollar as the greenback rebounded amid safe haven appeal for the currency.

    The domestic unit opened at 73.95 against the US dollar at the interbank forex market, falling 16 paise over its previous close. On Monday, the rupee plunged 23 paise to end at a two-week low of 73.79 against the US dollar.

    Rupee depreciates 16 paise to 73.95 amid strong US dollar, weak equities

  • 13:59 IST:

    Indian rupee, the domestic currency depreciated by 16 paise to 73.95 per US dollar on Tuesday's opening trade tracking muted domestic equities and weakened risk appetite amid concerns about a new virus strain.

    Traders said rupee is trading on a weak note against the US dollar as the greenback rebounded amid safe haven appeal for the currency.

    The domestic unit opened at 73.95 against the US dollar at the interbank forex market, falling 16 paise over its previous close. On Monday, the rupee plunged 23 paise to end at a two-week low of 73.79 against the US dollar.

    Rupee depreciates 16 paise to 73.95 amid strong US dollar, weak equities

  • Dec 22, 2020 13:47 (IST)

    Market turns positive

    In a volatile trading session, market indices reversed the trend and turned positive on Tuesday's opening bell, amid mixed global equities as additional US stimulus package capped losses after the new COVID-19 strain in the UK triggered a global selloff. Sensex gained by 75 points to 45,630 and Nifty gained by 45 points to 13,373

     

  • 13:47 IST: In a volatile trading session, market indices reversed the trend and turned positive on Tuesday's opening bell, amid mixed global equities as additional US stimulus package capped losses after the new COVID-19 strain in the UK triggered a global selloff. Sensex gained by 75 points to 45,630 and Nifty gained by 45 points to 13,373

     

  • Dec 22, 2020 13:45 (IST)

    Overview of Real Estate sector



    Vimal Monga, Vice President of Sales & Leasing (commercial), TDI Infratech Ltd says, "Though starting with challenging times, 2020 is ending with many positives for the real estate sector; this is the year when home loan interest rates got reduced to a 15-year low, and steps were announced to help stuck projects and liquidity issues. The year also witnessed the movement of people towards tier II and III cities, thereby increasing the scope of real estate far and wide. The coming year will see an increasing demand owing to the people’s likeness for gated communities post-COVID-19 due to the ability of these projects to provide a complete healthy lifestyle. The sector is also going to benefit from people’s realization of the importance of real estate assets as instruments of a safe investment. In 2021, we will also see interest in well-planned commercial developments as the requirement of malls and office spaces will go up. The people now want to shop, work, and live in an environment that can address their health concerns.

     

  • 13:45 IST:

    Vimal Monga, Vice President of Sales & Leasing (commercial), TDI Infratech Ltd says, "Though starting with challenging times, 2020 is ending with many positives for the real estate sector; this is the year when home loan interest rates got reduced to a 15-year low, and steps were announced to help stuck projects and liquidity issues. The year also witnessed the movement of people towards tier II and III cities, thereby increasing the scope of real estate far and wide. The coming year will see an increasing demand owing to the people’s likeness for gated communities post-COVID-19 due to the ability of these projects to provide a complete healthy lifestyle. The sector is also going to benefit from people’s realization of the importance of real estate assets as instruments of a safe investment. In 2021, we will also see interest in well-planned commercial developments as the requirement of malls and office spaces will go up. The people now want to shop, work, and live in an environment that can address their health concerns.

     

  • Dec 22, 2020 13:37 (IST)

    Antony Waste Handling Cell IPO

    The initial public offering (IPO) of Antony Waste Handling Cell was subscribed 1.97 times on the first day of share sale on December 21. The firm, which is India's second-largest municipal solid waste management (MSW) firm, plans to raise Rs 300 crore  through the IPO.

    The public issue received bids for 1.32 crore equity shares against reduced offer size (due to anchor book) of 66.66 lakh shares, data available on exchanges showed. The portion reserved for qualified institutional buyers (QIB) was subscribed 63 percent.

    Antony Waste Handling Cell IPO subscribed two times on day 1, retail portion booked 3.5 times

  • 13:37 IST: The initial public offering (IPO) of Antony Waste Handling Cell was subscribed 1.97 times on the first day of share sale on December 21. The firm, which is India's second-largest municipal solid waste management (MSW) firm, plans to raise Rs 300 crore  through the IPO.

    The public issue received bids for 1.32 crore equity shares against reduced offer size (due to anchor book) of 66.66 lakh shares, data available on exchanges showed. The portion reserved for qualified institutional buyers (QIB) was subscribed 63 percent.

    Antony Waste Handling Cell IPO subscribed two times on day 1, retail portion booked 3.5 times

  • Dec 22, 2020 13:31 (IST)

    Mrs Bectors Food IPO allotment today

    The allotment status of Mrs Bectors Food's Rs 540 crore initial public offer (IPO) which closed last week, will be announced today, on December 22. The shares of the company are expected to list on bourses on December 28.

    The company had earlier allotted a total of 56,25,415 shares at Rs 288 per share to anchor investors that included Nomura, Goldman Sachs India, HDFC Life Insurance Co, Sundaram Mutual Fund, Bajaj Allianz Life Insurance Co and Aditya Birla Sun Life Insurance Co, among others.

    The IPO was subscribed 198.02 times as the IPO received bids for 262.10 crore equity shares against offer size of more than 1.32 crore equity shares (excluding anchor book).

    Mrs Bectors Food IPO: Allotment of shares today, here's how to check status

  • 13:31 IST: The allotment status of Mrs Bectors Food's Rs 540 crore initial public offer (IPO) which closed last week, will be announced today, on December 22. The shares of the company are expected to list on bourses on December 28.

    The company had earlier allotted a total of 56,25,415 shares at Rs 288 per share to anchor investors that included Nomura, Goldman Sachs India, HDFC Life Insurance Co, Sundaram Mutual Fund, Bajaj Allianz Life Insurance Co and Aditya Birla Sun Life Insurance Co, among others.

    The IPO was subscribed 198.02 times as the IPO received bids for 262.10 crore equity shares against offer size of more than 1.32 crore equity shares (excluding anchor book).

    Mrs Bectors Food IPO: Allotment of shares today, here's how to check status

  • Dec 22, 2020 13:26 (IST)

    Market outlook




    Binod Modi Head-Strategy at Reliance Securities said,"Domestic equities appear to be better placed now despite weak global cues. Yesterdays' sharp sell-off in domestic markets was not surprising given Nifty witnessed a rally of over 16 per cent in the last two months and outperformed global markets.While concerns of a new strain of COVID-19 do not augur well for the markets, India still continues to look better placed compared to others. However, markets are likely to remain volatile in coming days until clarity emerges about new coronavirus strains and efficacy of ongoing vaccination".

     

  • 13:26 IST:


    Binod Modi Head-Strategy at Reliance Securities said,"Domestic equities appear to be better placed now despite weak global cues. Yesterdays' sharp sell-off in domestic markets was not surprising given Nifty witnessed a rally of over 16 per cent in the last two months and outperformed global markets.While concerns of a new strain of COVID-19 do not augur well for the markets, India still continues to look better placed compared to others. However, markets are likely to remain volatile in coming days until clarity emerges about new coronavirus strains and efficacy of ongoing vaccination".

     

  • Dec 22, 2020 12:35 (IST)

    YES Bank share slips 5% in early trade



    YES Bank shares were trading 4.9% lower on Monday morning amid a two days straight sell-off in the broader market, with Sensex and Nifty declining 0.75% each, after a 3% fall in the earlier session. With only offers to sell and no bidder to buy, YES Bank stock opened lower at Rs 17.31 and fell 4.9% to hit the day's low of Rs 17.05 during the session against the last close of Rs 17.94. The stock also hit an intraday high of Rs 17.59.

    YES Bank share slips 5% in early trade

  • 12:35 IST:

    YES Bank shares were trading 4.9% lower on Monday morning amid a two days straight sell-off in the broader market, with Sensex and Nifty declining 0.75% each, after a 3% fall in the earlier session. With only offers to sell and no bidder to buy, YES Bank stock opened lower at Rs 17.31 and fell 4.9% to hit the day's low of Rs 17.05 during the session against the last close of Rs 17.94. The stock also hit an intraday high of Rs 17.59.

    YES Bank share slips 5% in early trade

  • Dec 22, 2020 12:21 (IST)

    Current market outlook



    Keshav Lahoti-Associate Equity Analyst, Angel Broking said,"Yesterday, after the sharp sell off, the market today opened on a positive note but could not sustain it. Correction was higher in midcap and smallcap stocks. All the sectors except IT was trading in red. Market is correcting due to fear of a new strain of coronavirus which is up to 70%  more transmissible than the original noticed in the UK and profit booking. Correction was higher in multiplex and tours and travel related stocks. We advise investors to avoid use of leverage in this volatile market. We advise investors to wait and not use this correction as an opportunity to buy. Market valuation is still a bit stretched and also the market has lost its rallying momentum. For the next few days, we expect the market to be volatile and track the global market."

     

  • 12:21 IST:

    Keshav Lahoti-Associate Equity Analyst, Angel Broking said,"Yesterday, after the sharp sell off, the market today opened on a positive note but could not sustain it. Correction was higher in midcap and smallcap stocks. All the sectors except IT was trading in red. Market is correcting due to fear of a new strain of coronavirus which is up to 70%  more transmissible than the original noticed in the UK and profit booking. Correction was higher in multiplex and tours and travel related stocks. We advise investors to avoid use of leverage in this volatile market. We advise investors to wait and not use this correction as an opportunity to buy. Market valuation is still a bit stretched and also the market has lost its rallying momentum. For the next few days, we expect the market to be volatile and track the global market."

     

  • Dec 22, 2020 12:11 (IST)

    SpiceJet, InterGlobe Aviation shares fall 10%

    Shares of airline firms SpiceJet and Interglobe Aviation sinked in early trade today after the government banned all flights from the United Kingdom after the discovery of a new and more infectious coronavirus strain spreading in the country.

    InterGlobe Aviation share crashed 10% to Rs 1,356 against previous close of Rs 1,507 on BSE. The share has lost 12.52% after the government announced ban on UK flights yesterday.

    SpiceJet, InterGlobe Aviation shares fall 10% after govt bans flights from UK

  • 12:11 IST: Shares of airline firms SpiceJet and Interglobe Aviation sinked in early trade today after the government banned all flights from the United Kingdom after the discovery of a new and more infectious coronavirus strain spreading in the country.

    InterGlobe Aviation share crashed 10% to Rs 1,356 against previous close of Rs 1,507 on BSE. The share has lost 12.52% after the government announced ban on UK flights yesterday.

    SpiceJet, InterGlobe Aviation shares fall 10% after govt bans flights from UK

  • Dec 22, 2020 12:04 (IST)

    Stocks to watch today on December 22



    Edelweiss, Dr Reddy, Bank of Baroda, Cyient, Tata Motors, Lupin among others are the top stocks to watch out for in Tuesday's trading session

    Stocks in news: Edelweiss, Dr Reddy, Bank of Baroda, Cyient, Tata Motors, Lupin

  • 12:04 IST:

    Edelweiss, Dr Reddy, Bank of Baroda, Cyient, Tata Motors, Lupin among others are the top stocks to watch out for in Tuesday's trading session

    Stocks in news: Edelweiss, Dr Reddy, Bank of Baroda, Cyient, Tata Motors, Lupin

  • Dec 22, 2020 11:53 (IST)

    Gold outlook



    Anuj Gupta- DVP- Commodities and Currencies Research, Angel Broking said," Countries across Europe and beyond barred travelers from the United Kingdom as authorities reported the new strain appeared to be spreading 70% faster than earlier variants and was responsible for a surge in cases in London and its surrounding areas. Recorded cases across the U.K. in the week to Sunday rose 51% over the week before. The U.S. Currency strengthened against the basket of currencies as the impact of the pandemic widened in European nations which boosted appeal for the safe haven, Dollar.
     

    Despite the vaccine euphoria, 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.

     

    As for today traders can go for BUY in gold at Rs 50200 levels with the stop loss of Rs 49900 levels for the target   of 50800 levels. They can also go for BUY  in Silver at Rs 68000 levels, with the stop loss of 67000 levels and for the target of 69800 levels. We expect gold may test $1920 levels and silver may test $28 levels soon."

  • 11:53 IST:

    Anuj Gupta- DVP- Commodities and Currencies Research, Angel Broking said," Countries across Europe and beyond barred travelers from the United Kingdom as authorities reported the new strain appeared to be spreading 70% faster than earlier variants and was responsible for a surge in cases in London and its surrounding areas. Recorded cases across the U.K. in the week to Sunday rose 51% over the week before. The U.S. Currency strengthened against the basket of currencies as the impact of the pandemic widened in European nations which boosted appeal for the safe haven, Dollar.
     

    Despite the vaccine euphoria, 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.

     

    As for today traders can go for BUY in gold at Rs 50200 levels with the stop loss of Rs 49900 levels for the target   of 50800 levels. They can also go for BUY  in Silver at Rs 68000 levels, with the stop loss of 67000 levels and for the target of 69800 levels. We expect gold may test $1920 levels and silver may test $28 levels soon."

  • Dec 22, 2020 11:46 (IST)

    Market update

    Sensex fell by 350 points to 45,200 and Nifty fell by 103 points to 13,225

  • 11:46 IST: Sensex fell by 350 points to 45,200 and Nifty fell by 103 points to 13,225

  • Dec 22, 2020 11:44 (IST)

    Market outlook





    Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services said,"A point repeatedly emphasized has been the vulnerability of the market at high valuations. When the market runs up too much too fast a crash like what happened on Monday becomes inevitable. Those investors who have increased the cash component in their portfolios can consider buying into top quality IT & financials for medium-term appreciation. The concerns regarding the new strain of the virus seems a bit exaggerated. But further lockdowns in the West can impact the expected growth recovery."

     

  • 11:44 IST:



    Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services said,"A point repeatedly emphasized has been the vulnerability of the market at high valuations. When the market runs up too much too fast a crash like what happened on Monday becomes inevitable. Those investors who have increased the cash component in their portfolios can consider buying into top quality IT & financials for medium-term appreciation. The concerns regarding the new strain of the virus seems a bit exaggerated. But further lockdowns in the West can impact the expected growth recovery."

     

  • Dec 22, 2020 11:26 (IST)

    Gold outlook




    Anuj Gupta- DVP- Commodities and Currencies Research, Angel Broking said," Countries across Europe and beyond barred travelers from the United Kingdom as authorities reported the new strain appeared to be spreading 70% faster than earlier variants and was responsible for a surge in cases in London and its surrounding areas. Recorded cases across the U.K. in the week to Sunday rose 51% over the week before. The U.S. Currency strengthened against the basket of currencies as the impact of the pandemic widened in European nations which boosted appeal for the safe haven, Dollar.
     

    Despite the vaccine euphoria, 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.

     

    As for today traders can go for BUY in gold at Rs 50200 levels with the stop loss of Rs 49900 levels for the target   of 50800 levels. They can also go for BUY  in Silver at Rs 68000 levels, with the stop loss of 67000 levels and for the target of 69800 levels. We expect gold may test $1920 levels and silver may test $28 levels soon."

  • 11:26 IST:


    Anuj Gupta- DVP- Commodities and Currencies Research, Angel Broking said," Countries across Europe and beyond barred travelers from the United Kingdom as authorities reported the new strain appeared to be spreading 70% faster than earlier variants and was responsible for a surge in cases in London and its surrounding areas. Recorded cases across the U.K. in the week to Sunday rose 51% over the week before. The U.S. Currency strengthened against the basket of currencies as the impact of the pandemic widened in European nations which boosted appeal for the safe haven, Dollar.
     

    Despite the vaccine euphoria, 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.

     

    As for today traders can go for BUY in gold at Rs 50200 levels with the stop loss of Rs 49900 levels for the target   of 50800 levels. They can also go for BUY  in Silver at Rs 68000 levels, with the stop loss of 67000 levels and for the target of 69800 levels. We expect gold may test $1920 levels and silver may test $28 levels soon."

  • Dec 22, 2020 11:24 (IST)

    Coal India share price gains 2.3%

    Coal India share price gained after 3 days of consecutive fall and touched a day's high of Rs 136.10, rising  2.3% intraday. CIL allocated 25.78 million tonnes (MT) of coal in the first eight months of this fiscal under spot e-auction scheme, registering a year-on-year increase of 59.4%.

  • 11:24 IST: Coal India share price gained after 3 days of consecutive fall and touched a day's high of Rs 136.10, rising  2.3% intraday. CIL allocated 25.78 million tonnes (MT) of coal in the first eight months of this fiscal under spot e-auction scheme, registering a year-on-year increase of 59.4%.

  • Dec 22, 2020 11:18 (IST)

    Market turns red

    After a 3% fall on Monday, market indices were trading on a volatile note on Tuesday, amid weak global equities as new COVID-19 strain in the UK triggered a global selloff. Sensex fell by 250 points to 45,300 and Nifty fell by 76 points to 13,255

     

  • 11:18 IST: After a 3% fall on Monday, market indices were trading on a volatile note on Tuesday, amid weak global equities as new COVID-19 strain in the UK triggered a global selloff. Sensex fell by 250 points to 45,300 and Nifty fell by 76 points to 13,255

     

  • Dec 22, 2020 11:16 (IST)

    Top losers and gainers



    M&M, followed by Bajaj Finance, ONGC, ITC, IndusInd Bank, Reliance Industries, Bajaj Finserv and Dr Reddy's Lab were among the top laggards in the Sensex pack. On the other hand, HCL Tech, Infosys, TCS, Tech Mahindra, HDFC and Power Grid were among the gainers.

     

  • 11:16 IST:

    M&M, followed by Bajaj Finance, ONGC, ITC, IndusInd Bank, Reliance Industries, Bajaj Finserv and Dr Reddy's Lab were among the top laggards in the Sensex pack. On the other hand, HCL Tech, Infosys, TCS, Tech Mahindra, HDFC and Power Grid were among the gainers.

     

  • Dec 22, 2020 11:14 (IST)

    Lupin share price gains 3.4%


    Lupin stock price touched an intraday high of Rs 962.45 (3.46%) as against the last closing of Rs 930.30. This was after the company received US FDA nod for generic of Banzel oral suspension.

  • 11:14 IST:
    Lupin stock price touched an intraday high of Rs 962.45 (3.46%) as against the last closing of Rs 930.30. This was after the company received US FDA nod for generic of Banzel oral suspension.

  • Dec 22, 2020 10:53 (IST)

    Market outlook



    On markets opening --Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments said,"The index opened in the green but is unable to sustain; the breaking of 13500 yesterday has happened on the back of very high volumes. That being said, traders should not take unnecessary risk by investing into long or short trades. We are at a precarious juncture and the markets would take a few sessions to stabilise before a direction emerges."

  • 10:53 IST:

    On markets opening --Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments said,"The index opened in the green but is unable to sustain; the breaking of 13500 yesterday has happened on the back of very high volumes. That being said, traders should not take unnecessary risk by investing into long or short trades. We are at a precarious juncture and the markets would take a few sessions to stabilise before a direction emerges."

  • Dec 22, 2020 10:46 (IST)

    GTPL Hathway outlook



    GTPL Hathway (GTPL) stock price gained after 3 days of consecutive fall and opened at the intraday high of Rs 135 today.


    Amarjeet Maurya - AVP - Mid Caps, Angel Broking said,"GTPL Hathway (GTPL) is engaged in providing digital television cable, satellite, wired internet, movies on demand and broadband services. GTPL has increased stake in GTPL Abhilash, Subsidiary of the Company. The company has increased from 51% to 70.9% pursuant to conversion of 17,06,245 Cumulative Convertible Preference Shares (CCPS) into equivalent number of equity shares of Rs.10 / - each. This development is positive for GTPL. However, there is no significant impact on revenue contribution (GTPL Abhilash’s size is very small)."

  • 10:46 IST:

    GTPL Hathway (GTPL) stock price gained after 3 days of consecutive fall and opened at the intraday high of Rs 135 today.


    Amarjeet Maurya - AVP - Mid Caps, Angel Broking said,"GTPL Hathway (GTPL) is engaged in providing digital television cable, satellite, wired internet, movies on demand and broadband services. GTPL has increased stake in GTPL Abhilash, Subsidiary of the Company. The company has increased from 51% to 70.9% pursuant to conversion of 17,06,245 Cumulative Convertible Preference Shares (CCPS) into equivalent number of equity shares of Rs.10 / - each. This development is positive for GTPL. However, there is no significant impact on revenue contribution (GTPL Abhilash’s size is very small)."

  • Dec 22, 2020 10:42 (IST)

    Nifty Outlook




    Geojit Financial said,"While the ongoing momentum favours a plunge into the 12800-650 region, favoured view expects a pull back to 13450, early in the day, followed by volatility or downswings. If mid day moves refrain from unsettling the reaction low of 13131, then the day is likely to see a close above 13650."

  • 10:42 IST:


    Geojit Financial said,"While the ongoing momentum favours a plunge into the 12800-650 region, favoured view expects a pull back to 13450, early in the day, followed by volatility or downswings. If mid day moves refrain from unsettling the reaction low of 13131, then the day is likely to see a close above 13650."

  • Dec 22, 2020 10:31 (IST)

    Market turns flat

    After a 3% fall on Monday, market indices were trading on a volatile note on Tuesday for the second straight session, amid weak global equities as new COVID-19 strain in the UK triggered a global selloff.

    Sensex gained by 33 points to 45,575 and Nifty was trading 2 points to 13,330

     

  • 10:31 IST: After a 3% fall on Monday, market indices were trading on a volatile note on Tuesday for the second straight session, amid weak global equities as new COVID-19 strain in the UK triggered a global selloff.

    Sensex gained by 33 points to 45,575 and Nifty was trading 2 points to 13,330

     

  • Dec 22, 2020 10:21 (IST)

    Global markets




    Asian markets are trading lower taking cues from overnight weakness seen in US markets over new coronavirus strain in the U.K. Australia's retail sales jumped 7% in November.

    US markets closed slightly lower as optimism over stimulus package deal reached yesterday was overshadowed by concerns over new coronavirus strain in the U.K.

    European markets closed sharply lower as investors kept a close watch over the new coronavirus which has moved much of the U.K. to shut down.

  • 10:21 IST:


    Asian markets are trading lower taking cues from overnight weakness seen in US markets over new coronavirus strain in the U.K. Australia's retail sales jumped 7% in November.

    US markets closed slightly lower as optimism over stimulus package deal reached yesterday was overshadowed by concerns over new coronavirus strain in the U.K.

    European markets closed sharply lower as investors kept a close watch over the new coronavirus which has moved much of the U.K. to shut down.

  • Dec 22, 2020 10:03 (IST)

    Currency market update




    Kshitij Purohit, Lead Currency & Commodities, CapitalVia Global Research Limited- Investment Advisor said,"The Indian Rupee closed weak against the US Dollar as risk increased throughout the region due to the new strain of Covid-19. Data says this Variant is up 70% more transmissible than the original one and many countries to take stick measure and Bans flights and trains from Europe. Dollar Index was up almost 1% and it was the biggest gain since Sep 21. Technically USDINR closed above psychological level 74.00 and also crossed 50 and 100 days SMA. It engulfs past 4 weeks high and close above this level. Today 74.10 is the crucial level and above this 74.30 Levels is expected. USDINR Dec future is also crossed resistance 74.10 levels and closed above this level. For today 73.90 – 74.30 range is expected."

     

  • 10:03 IST:


    Kshitij Purohit, Lead Currency & Commodities, CapitalVia Global Research Limited- Investment Advisor said,"The Indian Rupee closed weak against the US Dollar as risk increased throughout the region due to the new strain of Covid-19. Data says this Variant is up 70% more transmissible than the original one and many countries to take stick measure and Bans flights and trains from Europe. Dollar Index was up almost 1% and it was the biggest gain since Sep 21. Technically USDINR closed above psychological level 74.00 and also crossed 50 and 100 days SMA. It engulfs past 4 weeks high and close above this level. Today 74.10 is the crucial level and above this 74.30 Levels is expected. USDINR Dec future is also crossed resistance 74.10 levels and closed above this level. For today 73.90 – 74.30 range is expected."

     

  • Dec 22, 2020 09:55 (IST)

    Market outlook





    Ajit Mishra, VP - Research, Religare Broking said,"Technically, Nifty has tested the lower band of the prevailing rising broadening formation around 13,150 and its breakdown could trigger a further decline towards the 12,700-12,800 zone. In case of a rebound, the 13,400-13,600 zone would act as a hurdle. We suggest avoiding naked leveraged trade in the futures segment and preferring option strategies until the markets stabilise. Investors, on the other hand, should utilise this fall and accumulate quality stocks on dips."

  • 09:55 IST:



    Ajit Mishra, VP - Research, Religare Broking said,"Technically, Nifty has tested the lower band of the prevailing rising broadening formation around 13,150 and its breakdown could trigger a further decline towards the 12,700-12,800 zone. In case of a rebound, the 13,400-13,600 zone would act as a hurdle. We suggest avoiding naked leveraged trade in the futures segment and preferring option strategies until the markets stabilise. Investors, on the other hand, should utilise this fall and accumulate quality stocks on dips."

  • Dec 22, 2020 09:46 (IST)

    Market update

    After a 3% fall on Monday, market indices opened on a weak note on Tuesday, amid weak global equities as new COVID-19 strain in the UK triggered a global selloff. Sensex fell by 305 points to 45,250 and Nifty fell by 95 points to 13,230

  • 09:46 IST: After a 3% fall on Monday, market indices opened on a weak note on Tuesday, amid weak global equities as new COVID-19 strain in the UK triggered a global selloff. Sensex fell by 305 points to 45,250 and Nifty fell by 95 points to 13,230

  • Dec 22, 2020 09:43 (IST)

    Market outlook



    Vinod Nair, Head of Research at Geojit Financial Services said, "In fear of a new wave of coronavirus and reports of the rapid spreading of new virus strain in the UK, a deep correction was triggered in the equity market. Travel restrictions imposed by several countries to and from UK have added concerns of yet another lockdown. European market witnessed further selling pressure, as the UK and EU failed to reach a trade deal before the decided deadline. As we all know, the vulnerability of the market was high due to quick gains made in the ongoing rally leading to low margin of safety. Despite which, we do not expect a big correction rather a consolidation, in the short-term, of not more than 7 % to 10% in the main indices. Buying at dips can be considered as a strategy in the falling market."


     

  • 09:43 IST:

    Vinod Nair, Head of Research at Geojit Financial Services said, "In fear of a new wave of coronavirus and reports of the rapid spreading of new virus strain in the UK, a deep correction was triggered in the equity market. Travel restrictions imposed by several countries to and from UK have added concerns of yet another lockdown. European market witnessed further selling pressure, as the UK and EU failed to reach a trade deal before the decided deadline. As we all know, the vulnerability of the market was high due to quick gains made in the ongoing rally leading to low margin of safety. Despite which, we do not expect a big correction rather a consolidation, in the short-term, of not more than 7 % to 10% in the main indices. Buying at dips can be considered as a strategy in the falling market."


     

  • Dec 22, 2020 09:33 (IST)

    Global market outlook




    Kanika Agarrwal, Co-founder and Chief Investment Officer, Upside A said," On the global front, we got good news and bad news overnight - Good being that the democrats and republicans managed to finalize the latest stimulus package which will add $900bn to the US economy. The bad news is a new strain of the virus in the UK which appears to be more contagious than the existing one. Even so, the strain appears similar to the current one for which vaccine rollout is on at full speed. Therefore, the bad news seems to come with its own glimmer of hope. Nothing else has majorly changed. We continued to buy today, and will do so for the rest of the week. Today's markets are therefore a could serve as an entry point for those waiting for a correction. As Warren Buffett says, "be greedy when others are fearful."

  • 09:33 IST:


    Kanika Agarrwal, Co-founder and Chief Investment Officer, Upside A said," On the global front, we got good news and bad news overnight - Good being that the democrats and republicans managed to finalize the latest stimulus package which will add $900bn to the US economy. The bad news is a new strain of the virus in the UK which appears to be more contagious than the existing one. Even so, the strain appears similar to the current one for which vaccine rollout is on at full speed. Therefore, the bad news seems to come with its own glimmer of hope. Nothing else has majorly changed. We continued to buy today, and will do so for the rest of the week. Today's markets are therefore a could serve as an entry point for those waiting for a correction. As Warren Buffett says, "be greedy when others are fearful."

  • Dec 22, 2020 09:27 (IST)

    Rupee closing on Monday

    The Indian rupee declined 23 paise to end at 73.79 per dollar on Monday amid massive selloff in domestic equities and strengthening American currency in the overseas market. However, continued foreign fund inflows and lower crude prices supported the rupee and restricted the fall.

  • 09:27 IST: The Indian rupee declined 23 paise to end at 73.79 per dollar on Monday amid massive selloff in domestic equities and strengthening American currency in the overseas market. However, continued foreign fund inflows and lower crude prices supported the rupee and restricted the fall.

  • Dec 22, 2020 09:21 (IST)

    Opening session

    After a weak pre-open session, market indices reversed the trend and turned positive on Tuesday's opening bell, amid mixed global equities as additional US stimulus package capped losses after the new COVID-19 strain in the UK triggered a global selloff. Sensex gained by 325 points to 45,879 and Nifty gained by 45 points to 13,373

     

  • 09:21 IST: After a weak pre-open session, market indices reversed the trend and turned positive on Tuesday's opening bell, amid mixed global equities as additional US stimulus package capped losses after the new COVID-19 strain in the UK triggered a global selloff. Sensex gained by 325 points to 45,879 and Nifty gained by 45 points to 13,373

     

  • Dec 22, 2020 09:19 (IST)

    Pre open session

    After a 3% fall on Monday, market indices opened on a weak note on Tuesday, amid weak global equities as new COVID-19 strain in the UK triggered a global selloff.

  • 09:19 IST: After a 3% fall on Monday, market indices opened on a weak note on Tuesday, amid weak global equities as new COVID-19 strain in the UK triggered a global selloff.

  • Dec 22, 2020 09:09 (IST)

    Global markets



    Asian markets opened lower on Tuesday as investors were worried following the discovery of a new COVID-19 strain in the U.K. that has prompted tighter lockdowns and travel restrictions across Europe, leading to a slower economic recovery.

    In US, markets closed lower on Monday, after steep losses early in the session as investors juggled the outbreak of an ominous new strain of COVID-19 with the news of lawmakers reaching an agreement on a $900 billion long-anticipated stimulus package.

  • 09:09 IST:

    Asian markets opened lower on Tuesday as investors were worried following the discovery of a new COVID-19 strain in the U.K. that has prompted tighter lockdowns and travel restrictions across Europe, leading to a slower economic recovery.

    In US, markets closed lower on Monday, after steep losses early in the session as investors juggled the outbreak of an ominous new strain of COVID-19 with the news of lawmakers reaching an agreement on a $900 billion long-anticipated stimulus package.

  • Dec 22, 2020 09:01 (IST)

    FII action

    Foreign portfolio investors (FPIs) sold shares worth Rs 323.55 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 486.12 crore in the Indian equity market on 21 December, provisional data showed.

     


     

  • 09:01 IST:

    Foreign portfolio investors (FPIs) sold shares worth Rs 323.55 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 486.12 crore in the Indian equity market on 21 December, provisional data showed.

     


     

  • Dec 22, 2020 08:53 (IST)

    Closing on Monday

    Yesterday, equity indices Sensex and Nifty fell over 3% each on Monday ending sharply lower, in line with weak global equities as new COVID-19 strain in the UK triggered a global selloff. Reversing the trend from six days of consecutive gains amid concerns over fresh rounds of lockdown, Sensex fell 1,406 points to 45,553 and Nifty ended 432 points lower at 13,328

  • 08:53 IST: Yesterday, equity indices Sensex and Nifty fell over 3% each on Monday ending sharply lower, in line with weak global equities as new COVID-19 strain in the UK triggered a global selloff. Reversing the trend from six days of consecutive gains amid concerns over fresh rounds of lockdown, Sensex fell 1,406 points to 45,553 and Nifty ended 432 points lower at 13,328