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Share Market Highlights: Sensex ends at record high, Nifty at 13,981; Maruti, Titan, L&T, RIL top gainers

December 30,2020 19:37 IST

Sensex, Nifty Highlights on December 30: Market indices continued to surge for the sixth straight session on Wednesday and ended at record highs, in line with positive global equities. After hitting lifetime highs in the early trade, Sensex ended 133 points higher at 47,746 and Nifty gained by 49 points to 13,981. During the early session today, Sensex hit a lifetime high of 47,807 and Nifty touched 13,990 for the very first time. Maruti, M&M, Titan, L&T, RIL, HUL were among the top gainers, while ITC, Sun Pharma, SBI, TCS were among top losers today

 

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  • India Stock Market Highlights Today: During early session today, Sensex hit an lifetime high of 47,807 and Nifty touched 13,990 for the very first time
  • Dec 30, 2020 15:55 (IST)

    Nifty technical view




    Rohit Singre, Senior Technical Analyst at LKP Securities said,"Index closed a day on a positive note for a fifth consecutive session at 13982 with gains of half a per cent and formed a dragonfly Doji kind of candle pattern on the daily chart. The index reached to its immediate and strong hurdle zone of 14k mark now if index managed to hold above 14k mark then only we may see current bullish momentum to extend further towards 14200 zone otherwise some profit booking can witness and we may see the index to trade in the range of 13800-14000 zone."

     

  • 15:55 IST:


    Rohit Singre, Senior Technical Analyst at LKP Securities said,"Index closed a day on a positive note for a fifth consecutive session at 13982 with gains of half a per cent and formed a dragonfly Doji kind of candle pattern on the daily chart. The index reached to its immediate and strong hurdle zone of 14k mark now if index managed to hold above 14k mark then only we may see current bullish momentum to extend further towards 14200 zone otherwise some profit booking can witness and we may see the index to trade in the range of 13800-14000 zone."

     

  • Dec 30, 2020 15:54 (IST)

    Market outlook at closing session

    Vinod Nair, Head of Research at Geojit Financial Services said,"Domestic sentiment is upbeat, expecting a nod for Oxford-AstraZeneca Covid vaccine usage in India. Growth sectors like Auto, Realty and Metal led the rally while defensives like pharma continued to remain under pressure. Although the market is at its most expensive valuation level, FPIs continue to pump in funds and roll the Indian market higher on a daily basis"

     

  • 15:54 IST: Vinod Nair, Head of Research at Geojit Financial Services said,"Domestic sentiment is upbeat, expecting a nod for Oxford-AstraZeneca Covid vaccine usage in India. Growth sectors like Auto, Realty and Metal led the rally while defensives like pharma continued to remain under pressure. Although the market is at its most expensive valuation level, FPIs continue to pump in funds and roll the Indian market higher on a daily basis"

     

  • Dec 30, 2020 15:53 (IST)

    Closing

    After a volatile session, market indices continued to surge for the sixth straight session on Wednesday and ended at record highs, in line with positive global equities. After hitting lifetime highs in the early trade, Sensex ended 133 points higher at 47,746 and Nifty gained by 49 points to 13,981. During the early session today, Sensex hit a lifetime high of 47,807 and Nifty touched 13,990 for the very first time. Maruti, M&M, Titan, L&T, RIL, HUL were among the top gainers, while ITC, Sun Pharma, SBI, TCS were among top losers today

  • 15:53 IST: After a volatile session, market indices continued to surge for the sixth straight session on Wednesday and ended at record highs, in line with positive global equities. After hitting lifetime highs in the early trade, Sensex ended 133 points higher at 47,746 and Nifty gained by 49 points to 13,981. During the early session today, Sensex hit a lifetime high of 47,807 and Nifty touched 13,990 for the very first time. Maruti, M&M, Titan, L&T, RIL, HUL were among the top gainers, while ITC, Sun Pharma, SBI, TCS were among top losers today

  • Dec 30, 2020 15:48 (IST)

    EID Perry sells stake in Coromandel



    Keshav Lahoti-Associate Equity Analyst, Angel Broking said,"EID Parry sold ~2% stake in the subsidiary Coromandel International to reduce the debt on its book. We believe due to reduced debt on the book, the company will get a better valuation on the street. Based on this development, stock has hit 52 week high. EID Parry derives its major value from being a promoter of Coromandel International. Investors can invest in Coromandel International via EID Parry as EID Parry holding in Coromandel International is trading at steep holding company discount. In the future, we believe holding company discounts will narrow down. From an investment perspective, we are bullish on EID Parry."

     

  • 15:48 IST:

    Keshav Lahoti-Associate Equity Analyst, Angel Broking said,"EID Parry sold ~2% stake in the subsidiary Coromandel International to reduce the debt on its book. We believe due to reduced debt on the book, the company will get a better valuation on the street. Based on this development, stock has hit 52 week high. EID Parry derives its major value from being a promoter of Coromandel International. Investors can invest in Coromandel International via EID Parry as EID Parry holding in Coromandel International is trading at steep holding company discount. In the future, we believe holding company discounts will narrow down. From an investment perspective, we are bullish on EID Parry."

     

  • Dec 30, 2020 15:34 (IST)

    JMC Projects outlook



    Jyoti Roy - DVP- Equity Strategist, Angel Broking said," JMC Projects (India) Limited (JMC), has announced that they have secured new orders of approx. Rs. 698 Crores for Building Projects in South India The management highlighted that the recent order win  has further strengthened JMC's position in the Southern India B&F market. S per the management with this new order the total order flow for the current year has crossed Rs. 6,700 Crores. We are seeing strong order flows for most Infrastructure companies over the past few months with L&T leading the way. The recent spurt in order flows over the past few months bodes well for the infrastructure sector. We believe that the worst is over and we should see better days ahead for the sector which was amongst the worst impacted due to the Covid-19 pandemic."

  • 15:34 IST:

    Jyoti Roy - DVP- Equity Strategist, Angel Broking said," JMC Projects (India) Limited (JMC), has announced that they have secured new orders of approx. Rs. 698 Crores for Building Projects in South India The management highlighted that the recent order win  has further strengthened JMC's position in the Southern India B&F market. S per the management with this new order the total order flow for the current year has crossed Rs. 6,700 Crores. We are seeing strong order flows for most Infrastructure companies over the past few months with L&T leading the way. The recent spurt in order flows over the past few months bodes well for the infrastructure sector. We believe that the worst is over and we should see better days ahead for the sector which was amongst the worst impacted due to the Covid-19 pandemic."

  • Dec 30, 2020 15:31 (IST)

    Upgrade in target price of Persistent Systems



    Jyoti Roy - DVP- Equity Strategist, Angel Broking said," We are upgrading the target price of Persistent Systems to Rs. 1677 from Rs. 1531 post the Accenture Q1FY21 numbers which highlighted increased traction in offshoring which bodes well for Indian IT vendors. Persistent has a very strong presence in Hi tech, manufacturing and life science segments which are amongst the least impacted sectors due to Covid-19. We expect the company to post strong sequential growth going forward as the alliance business is also expected to move into a higher growth trajectory along with ramp up of existing projects. We expect the company to post revenue/EBITDA/PAT growth of 14.5%/25.1%/23.6% between FY20-FY22 given strong deal wins, ramp up of existing projects and renewed growth momentum in the alliance business. We expect stable margins for the company going forward as higher offshoring and increased utilization are expected to negate the impact of wage hikes and any possible currency headwinds."

  • 15:31 IST:

    Jyoti Roy - DVP- Equity Strategist, Angel Broking said," We are upgrading the target price of Persistent Systems to Rs. 1677 from Rs. 1531 post the Accenture Q1FY21 numbers which highlighted increased traction in offshoring which bodes well for Indian IT vendors. Persistent has a very strong presence in Hi tech, manufacturing and life science segments which are amongst the least impacted sectors due to Covid-19. We expect the company to post strong sequential growth going forward as the alliance business is also expected to move into a higher growth trajectory along with ramp up of existing projects. We expect the company to post revenue/EBITDA/PAT growth of 14.5%/25.1%/23.6% between FY20-FY22 given strong deal wins, ramp up of existing projects and renewed growth momentum in the alliance business. We expect stable margins for the company going forward as higher offshoring and increased utilization are expected to negate the impact of wage hikes and any possible currency headwinds."

  • Dec 30, 2020 15:14 (IST)

    Top gainers today

    Maruti, M&M, Titan, L&T, RIL, HUL were among the top gainers, while ITC, Sun Pharma, SBI, TCS were among top losers today

     

  • 15:14 IST: Maruti, M&M, Titan, L&T, RIL, HUL were among the top gainers, while ITC, Sun Pharma, SBI, TCS were among top losers today

     

  • Dec 30, 2020 15:13 (IST)

    Gold outlook 2021




    Religare Broking said in its commodity outlook,"Gold has shined bright in 2020, as it witnessed a spectacular move to an all-time high of Rs.56191 per 10gms, soaring by almost 43 per cent and is about to settle with splendid returns of nearly 29 per cent on the domestic bourses Gold has always been a great diversifier. As an integral part of a portfolio, it drags down volatility and improves the overall performance of a portfolio. The precious metal has a track record of generating steady returns over various time periods. It has delivered 13.37 per cent annualised CAGR return over the last 15 years, 9.22 per cent for last 10 years, 14.96 per cent for last 5 years and 19.75 per cent for last 3 years.

    Though volatility may remain high after the sharp run up in 2020, but metal has firm support zone at Rs.47700-47200 per 10gms levels ($1750 per ounce), while major floor at $1680 per ounce or Rs.44800 per 10gms. As long as the counter is placed above the mentioned support area, long term structure looks positive where one can expect upside towards Rs.53500 per 10gms initially and then towards Rs.60500 per 10gms mark in medium term. For the year 2021, prices can even scale higher towards Rs.65000 per 10gms."

  • 15:13 IST:


    Religare Broking said in its commodity outlook,"Gold has shined bright in 2020, as it witnessed a spectacular move to an all-time high of Rs.56191 per 10gms, soaring by almost 43 per cent and is about to settle with splendid returns of nearly 29 per cent on the domestic bourses Gold has always been a great diversifier. As an integral part of a portfolio, it drags down volatility and improves the overall performance of a portfolio. The precious metal has a track record of generating steady returns over various time periods. It has delivered 13.37 per cent annualised CAGR return over the last 15 years, 9.22 per cent for last 10 years, 14.96 per cent for last 5 years and 19.75 per cent for last 3 years.

    Though volatility may remain high after the sharp run up in 2020, but metal has firm support zone at Rs.47700-47200 per 10gms levels ($1750 per ounce), while major floor at $1680 per ounce or Rs.44800 per 10gms. As long as the counter is placed above the mentioned support area, long term structure looks positive where one can expect upside towards Rs.53500 per 10gms initially and then towards Rs.60500 per 10gms mark in medium term. For the year 2021, prices can even scale higher towards Rs.65000 per 10gms."

  • Dec 30, 2020 15:07 (IST)

    Market trades near record high

    In a volatile session, market turned positive by the last hour of trade and continued surge for the sixth session on Wednesday, in line with positive global equities. Trading near record highs, Sensex was up by 148 points to 47,741 and Nifty gained by 42 points to 13,974. During early session today, Sensex hit an lifetime high of 47,807 and Nifty touched 13,982 for the very first time.

     

  • 15:07 IST: In a volatile session, market turned positive by the last hour of trade and continued surge for the sixth session on Wednesday, in line with positive global equities. Trading near record highs, Sensex was up by 148 points to 47,741 and Nifty gained by 42 points to 13,974. During early session today, Sensex hit an lifetime high of 47,807 and Nifty touched 13,982 for the very first time.

     

  • Dec 30, 2020 14:56 (IST)

    Kalpataru Power Transmission secures order of Rs 900 cr




    Amarjeet Maurya - AVP - Mid Caps, Angel Broking said,"Kalpataru Power Transmission Limited (KPTL), a leading global EPC player in the power and infrastructure contracting sector has secured new orders about Rs900cr. the company's order inflows for the current year has crossed Rs.5,400cr. As on 2QFY21, the company has order book Is around ~Rs12,292cr (which provides revenue visibility ~1.5x of FY20 revenue)."

     

  • 14:56 IST:


    Amarjeet Maurya - AVP - Mid Caps, Angel Broking said,"Kalpataru Power Transmission Limited (KPTL), a leading global EPC player in the power and infrastructure contracting sector has secured new orders about Rs900cr. the company's order inflows for the current year has crossed Rs.5,400cr. As on 2QFY21, the company has order book Is around ~Rs12,292cr (which provides revenue visibility ~1.5x of FY20 revenue)."

     

  • Dec 30, 2020 14:38 (IST)

    Coromandel International outlook



    Keshav Lahoti-Associate Equity Analyst, Angel Broking said,"Coromandel International corrected by 6% during the early trade today as its promoter EID Parry sold ~2% stake in the company to reduce the debt on its book. Due to excess supply, stock has corrected. We don't anticipate more correction in the stock due to this action. On the other hand, EID Parry was trading up by 6% as its balance sheet strength will improve.  We are bullish on Coromandel International as company has better return ratios, working capital cycle, EBIDTA margins compared to its peers. Company is also backward integrated to the extent of ~40% of production which will help to reduce volatility in the margins."

     

  • 14:38 IST:

    Keshav Lahoti-Associate Equity Analyst, Angel Broking said,"Coromandel International corrected by 6% during the early trade today as its promoter EID Parry sold ~2% stake in the company to reduce the debt on its book. Due to excess supply, stock has corrected. We don't anticipate more correction in the stock due to this action. On the other hand, EID Parry was trading up by 6% as its balance sheet strength will improve.  We are bullish on Coromandel International as company has better return ratios, working capital cycle, EBIDTA margins compared to its peers. Company is also backward integrated to the extent of ~40% of production which will help to reduce volatility in the margins."

     

  • Dec 30, 2020 14:20 (IST)

    UPL share rises 4%

    UPL share rose nearly 4% today after  the manufacturer of chemicals said it completed the pre-payment of $410 million of 3.25 percent Senior Notes due October 2021. The stock touched an intraday high of Rs 472.35, rising 3.87% against previous close of Rs 454.75 on BSE.

    The share hit an intraday low of Rs 461.20. On NSE, the share rose to Rs 472.40 against previous close of Rs 454.70. The stock has gained 4.67% in the last 3 days.

    The share trades higher than 5 day, 20 day, 50 day and 200 day moving averages but lower than 100 day moving averages.  

    UPL share rises 4% after firm pares debt by $410 million

  • 14:20 IST: UPL share rose nearly 4% today after  the manufacturer of chemicals said it completed the pre-payment of $410 million of 3.25 percent Senior Notes due October 2021. The stock touched an intraday high of Rs 472.35, rising 3.87% against previous close of Rs 454.75 on BSE.

    The share hit an intraday low of Rs 461.20. On NSE, the share rose to Rs 472.40 against previous close of Rs 454.70. The stock has gained 4.67% in the last 3 days.

    The share trades higher than 5 day, 20 day, 50 day and 200 day moving averages but lower than 100 day moving averages.  

    UPL share rises 4% after firm pares debt by $410 million

  • Dec 30, 2020 14:08 (IST)

    Paisalo Digital stock hits lower circuit of 10%

    Paisalo Digital stock fell to its lower circuit today after Elara India Opportunities Fund pared its stake in the company to 1.76 percent from 4.37 percent. The sale of 2.6% stake in the firm amounted to 11 lakh shares which were sold via open market transaction.

    The stock has fallen after 4 days of consecutive gain. In four sessions, the share had gained 53% after SBI Life Insurance Company acquired 9 per cent stake in the finance company via open market.

    The stock was stuck in lower circuit of Rs 668.95, down 10% in early trade against previous close of Rs 743.25 on BSE. Paisalo Digital share is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.  

    Paisalo Digital stock hits lower circuit of 10%, falls after four days

  • 14:08 IST: Paisalo Digital stock fell to its lower circuit today after Elara India Opportunities Fund pared its stake in the company to 1.76 percent from 4.37 percent. The sale of 2.6% stake in the firm amounted to 11 lakh shares which were sold via open market transaction.

    The stock has fallen after 4 days of consecutive gain. In four sessions, the share had gained 53% after SBI Life Insurance Company acquired 9 per cent stake in the finance company via open market.

    The stock was stuck in lower circuit of Rs 668.95, down 10% in early trade against previous close of Rs 743.25 on BSE. Paisalo Digital share is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.  

    Paisalo Digital stock hits lower circuit of 10%, falls after four days

  • Dec 30, 2020 13:54 (IST)

    YES Bank share trade tad lower today



    YES Bank shares were trading marginally lower on Wednesday morning, in line with pother private and public banking shares and broader indices Sensex and Nifty.


    The stock price of the private lender opened higher at Rs 17.70 today and gained to the day's high of Rs 17.81 on BSE. The stock later erased earlt gains and fell 1.3% hit an intraday low of Rs 17.49, against the last close of Rs 17.73.

    YES Bank share falls over 1% in early trade

  • 13:54 IST:

    YES Bank shares were trading marginally lower on Wednesday morning, in line with pother private and public banking shares and broader indices Sensex and Nifty.


    The stock price of the private lender opened higher at Rs 17.70 today and gained to the day's high of Rs 17.81 on BSE. The stock later erased earlt gains and fell 1.3% hit an intraday low of Rs 17.49, against the last close of Rs 17.73.

    YES Bank share falls over 1% in early trade

  • Dec 30, 2020 13:42 (IST)

    Banking shares decline today


    Banking shares were declining the most today, State Bank of India, IndusInd Bank, Axis Bank and ICICI Bank trading as top losers on banking and financial index after RBI flagged post-covid challenges for banks.


    Reserve Bank of India (RBI) warned banks of a deterioration in asset quality and said that lenders should brace themselves for a tough time once the policy support given during the pandemic is withdrawn

    RBI specifically said in its Trends and Progress report released on Tuesday taht housing financiers could see a substantial impairment in their loan assets because of delays in completion of housing projects, cost overruns and delayed investments by home buyers.


    "As of end-August, around 40% of outstanding loans of the financial system availed moratorium. The data on gross non-performing assets (GNPA) of banks are yet to reflect the stress, obscured under the asset quality standstill with attendant financial stability implications," said the report, which provides details of the performance of the banking sector during this fiscal and the previous one.

     

  • 13:42 IST:
    Banking shares were declining the most today, State Bank of India, IndusInd Bank, Axis Bank and ICICI Bank trading as top losers on banking and financial index after RBI flagged post-covid challenges for banks.


    Reserve Bank of India (RBI) warned banks of a deterioration in asset quality and said that lenders should brace themselves for a tough time once the policy support given during the pandemic is withdrawn

    RBI specifically said in its Trends and Progress report released on Tuesday taht housing financiers could see a substantial impairment in their loan assets because of delays in completion of housing projects, cost overruns and delayed investments by home buyers.


    "As of end-August, around 40% of outstanding loans of the financial system availed moratorium. The data on gross non-performing assets (GNPA) of banks are yet to reflect the stress, obscured under the asset quality standstill with attendant financial stability implications," said the report, which provides details of the performance of the banking sector during this fiscal and the previous one.

     

  • Dec 30, 2020 13:34 (IST)

    RIL share price gains almost 1%



    RIL shares were trading tad higher at Rs 2,006.85 from last close of Rs 1,989.20 after the company said it has completed the acquisition of equity shares of IMGR. Accordingly, IMG-R has become a wholly-owned subsidiary of RIL.

     

  • 13:34 IST:

    RIL shares were trading tad higher at Rs 2,006.85 from last close of Rs 1,989.20 after the company said it has completed the acquisition of equity shares of IMGR. Accordingly, IMG-R has become a wholly-owned subsidiary of RIL.

     

  • Dec 30, 2020 13:21 (IST)

    UPL share price gains 4%



    UPL shares gained 4% to Rs 472.35, its day's high after the company said it has completed the pre-payment of $410 million of 3.25 percent Senior Notes due October 2021. This prepayment is in line with its commitment to reduce debt.

  • 13:21 IST:

    UPL shares gained 4% to Rs 472.35, its day's high after the company said it has completed the pre-payment of $410 million of 3.25 percent Senior Notes due October 2021. This prepayment is in line with its commitment to reduce debt.

  • Dec 30, 2020 13:10 (IST)

    Rupee surges 9 paise to 73.33 per US dollar

    Indian rupee, the domestic currency appreciated by 9 paise to 73.33 per US dollar on Wednesday's opening trade, supported by sustained foreign fund inflows and weakness in the American currency in the overseas market. This was despite weakness in domestic euqities.

    The domestic unit opened at 73.35 against the US dollar at the interbank forex market and later inched higher by 9 paise to 73.33 against the greenback over its previous close.

    Rupee surges 9 paise to 73.33 per US dollar, sustained foreign fund inflows

  • 13:10 IST: Indian rupee, the domestic currency appreciated by 9 paise to 73.33 per US dollar on Wednesday's opening trade, supported by sustained foreign fund inflows and weakness in the American currency in the overseas market. This was despite weakness in domestic euqities.

    The domestic unit opened at 73.35 against the US dollar at the interbank forex market and later inched higher by 9 paise to 73.33 against the greenback over its previous close.

    Rupee surges 9 paise to 73.33 per US dollar, sustained foreign fund inflows

  • Dec 30, 2020 13:09 (IST)

    Jindal Steel & Power shares gain over 2%




    Jindal Steel & Power share price gained over 2% today to Rs 265. This was after the company said it has recieved 'regular supplier' status from Indian Railways to supply 60kg 880 grade (90UTS) Rails.

  • 13:09 IST:


    Jindal Steel & Power share price gained over 2% today to Rs 265. This was after the company said it has recieved 'regular supplier' status from Indian Railways to supply 60kg 880 grade (90UTS) Rails.

  • Dec 30, 2020 12:43 (IST)

    Godrej Consumer gains over 1%





    Godrej Consumer share price gained over 15 to intraday high of Rs 749.70 on BSE after the FMCG maker has forayed into home cleaning products, a segment which is witnessing fast growth after the pandemic and would provide surface cleaning and disinfecting solution under its newly-launched brand Godrej ProClean.

  • 12:43 IST:



    Godrej Consumer share price gained over 15 to intraday high of Rs 749.70 on BSE after the FMCG maker has forayed into home cleaning products, a segment which is witnessing fast growth after the pandemic and would provide surface cleaning and disinfecting solution under its newly-launched brand Godrej ProClean.

  • Dec 30, 2020 12:21 (IST)

    Brent crude futures

    Brent crude futures, the global oil benchmark, rose 0.43 per cent to USD 51.31 per barrel. Oil price continued to gain as US is seen moving forward with expanding pandemic aid package which is believed to spur fuel demand and stronger economic growth.

  • 12:21 IST:

    Brent crude futures, the global oil benchmark, rose 0.43 per cent to USD 51.31 per barrel. Oil price continued to gain as US is seen moving forward with expanding pandemic aid package which is believed to spur fuel demand and stronger economic growth.

  • Dec 30, 2020 12:18 (IST)

    NDTV share price drops 2%




    NDTV share dropped almost 2% to Rs 38.60 after SEBI imposed a penalty of Rs 5 crore on NDTV for disclosure related violations.

     

  • 12:18 IST:


    NDTV share dropped almost 2% to Rs 38.60 after SEBI imposed a penalty of Rs 5 crore on NDTV for disclosure related violations.

     

  • Dec 30, 2020 12:18 (IST)

    Sensex, Nifty hit new highs today

     In earlier session today, Sensex hit an lifetime high of 47,807 and Nifty touched 13,982 for the very first time.

  • 12:18 IST:  In earlier session today, Sensex hit an lifetime high of 47,807 and Nifty touched 13,982 for the very first time.

  • Dec 30, 2020 11:45 (IST)

    This matrimonial site shares gave 280% returns in 9 months

    Shares of Matrimony.com, which runs online matrimony platform BharatMatrimony, rallied nearly 18 per cent to hit a fresh 52-week high on the Bombay Stock Exchange on Tuesday on the back of heavy volume. In the last nine months, Matrimony.com shares grew by 280 per cent from its 52-week low of Rs 251 as on March 23 to Rs 953 today, despite business disruption caused by the COVID-19 pandemic. The stock has gained 33.71 per cent so far in December.

    Matrimony.com shares belled the day in positive terrain, opening at Rs820.45 against the previous closing price of Rs 809.40 on the BSE. During the day's trade, the stock hit a record high of Rs 953, before closing at Rs927.95, up 14.65 per cent. The market cap of the matrimony company surged to Rs2,114.15crore.

    This matrimonial site shares gave 280% returns in 9 months

  • 11:45 IST: Shares of Matrimony.com, which runs online matrimony platform BharatMatrimony, rallied nearly 18 per cent to hit a fresh 52-week high on the Bombay Stock Exchange on Tuesday on the back of heavy volume. In the last nine months, Matrimony.com shares grew by 280 per cent from its 52-week low of Rs 251 as on March 23 to Rs 953 today, despite business disruption caused by the COVID-19 pandemic. The stock has gained 33.71 per cent so far in December.

    Matrimony.com shares belled the day in positive terrain, opening at Rs820.45 against the previous closing price of Rs 809.40 on the BSE. During the day's trade, the stock hit a record high of Rs 953, before closing at Rs927.95, up 14.65 per cent. The market cap of the matrimony company surged to Rs2,114.15crore.

    This matrimonial site shares gave 280% returns in 9 months

  • Dec 30, 2020 11:44 (IST)

    Top losers

    State Bank of India, IndusInd Bank, Axis Bank and ICICI Bank, HDFC, Reliance, Bharti Airtel, Larsen & Toubro and Sun Pharma were among major losers among Sensex that dropped on profit booking.

  • 11:44 IST: State Bank of India, IndusInd Bank, Axis Bank and ICICI Bank, HDFC, Reliance, Bharti Airtel, Larsen & Toubro and Sun Pharma were among major losers among Sensex that dropped on profit booking.

  • Dec 30, 2020 11:20 (IST)

    Gold rises on additional US COVID stimulus hopes

    Gold prices rose on Tuesday as the prospect of additional U.S. stimulus bolstered the metal's appeal and weighed on the dollar, with Washington's lawmakers set to vote on larger coronavirus relief checks. Spot gold rose 0.3% to $1,877.41 per ounce by 10:06 a.m. EST (1506 GMT).

    The metal climbed as much 1.3% on Monday after U.S. President Donald Trump's approval of a $2.3 trillion stimulus package. U.S. gold futures rose 0.1% to $1,882.30.

    Gold rises on additional US COVID stimulus hopes

  • 11:20 IST: Gold prices rose on Tuesday as the prospect of additional U.S. stimulus bolstered the metal's appeal and weighed on the dollar, with Washington's lawmakers set to vote on larger coronavirus relief checks. Spot gold rose 0.3% to $1,877.41 per ounce by 10:06 a.m. EST (1506 GMT).

    The metal climbed as much 1.3% on Monday after U.S. President Donald Trump's approval of a $2.3 trillion stimulus package. U.S. gold futures rose 0.1% to $1,882.30.

    Gold rises on additional US COVID stimulus hopes

  • Dec 30, 2020 11:11 (IST)

    Stocks in the news



    Stocks to watch today on December 30: Vedanta, RIL, SBI, UPL, Jindal Steel & Power, APL Apollo Tubes among others are the top stocks to watch out for in Wednesday's trading session

    Stocks in news: Vedanta, RIL, SBI, UPL, Jindal Steel & Power, APL Apollo Tubes

  • 11:11 IST:

    Stocks to watch today on December 30: Vedanta, RIL, SBI, UPL, Jindal Steel & Power, APL Apollo Tubes among others are the top stocks to watch out for in Wednesday's trading session

    Stocks in news: Vedanta, RIL, SBI, UPL, Jindal Steel & Power, APL Apollo Tubes

  • Dec 30, 2020 11:01 (IST)

    Gold outlook




    Kshitij Purohit Lead - International & Commodity from CapitalVia Global Research Ltd- Investment Advisor said,"LBMA Gold Spot taking the support at $1870 levels but fail to give breakout above $1890 levels above this gold market see some more bullishness. Downside strong support is $1870 - $1852 levels, Resistance is at $1904 - $1920 levels.

    MCX Gold February taking the support of 65 days SMA which placed at 50050 levels indicating sideway to positive momentum will continue in the metals. However, on the upside is capped until it gives close above 50756. Downside support for the metal is 49600. Resistance for the metal is 50900.

    Silver-MCX Silver March is traded on positive note where its sustaining above 68000 levels further upside could see 69200-70050 levels. Support is at 68200-67500 levels."


     

  • 11:01 IST:


    Kshitij Purohit Lead - International & Commodity from CapitalVia Global Research Ltd- Investment Advisor said,"LBMA Gold Spot taking the support at $1870 levels but fail to give breakout above $1890 levels above this gold market see some more bullishness. Downside strong support is $1870 - $1852 levels, Resistance is at $1904 - $1920 levels.

    MCX Gold February taking the support of 65 days SMA which placed at 50050 levels indicating sideway to positive momentum will continue in the metals. However, on the upside is capped until it gives close above 50756. Downside support for the metal is 49600. Resistance for the metal is 50900.

    Silver-MCX Silver March is traded on positive note where its sustaining above 68000 levels further upside could see 69200-70050 levels. Support is at 68200-67500 levels."


     

  • Dec 30, 2020 10:50 (IST)

    Bharat Electronics outlook



    Geojit Financial Services said in its note,"New defence acquisition policy 2020, is expected to benefit domestic manufactures given higher indigenous content requirement in various categories, restrictions of imports & stricter timelines for execution. The current order back log is Rs52,700cr (4.3x FY20 sales), which provides strong earning visibility for the next 3 years. Order inflow for H1FY21 was Rs.5,000cr, while order pipeline is expected to improve. Given higher indigenous content in BEL's products EBITDA margin is expected to be in the range ~20%. We continue to remain constructive on BEL in long term given its niche technological & execution capabilities and government focus on indigenisation. Given strong order book visibility and stable order inflow, we maintain "Buy" rating on the stock. We value BEL at 15x as we roll forward to FY23E with target price of Rs138."

  • 10:50 IST:

    Geojit Financial Services said in its note,"New defence acquisition policy 2020, is expected to benefit domestic manufactures given higher indigenous content requirement in various categories, restrictions of imports & stricter timelines for execution. The current order back log is Rs52,700cr (4.3x FY20 sales), which provides strong earning visibility for the next 3 years. Order inflow for H1FY21 was Rs.5,000cr, while order pipeline is expected to improve. Given higher indigenous content in BEL's products EBITDA margin is expected to be in the range ~20%. We continue to remain constructive on BEL in long term given its niche technological & execution capabilities and government focus on indigenisation. Given strong order book visibility and stable order inflow, we maintain "Buy" rating on the stock. We value BEL at 15x as we roll forward to FY23E with target price of Rs138."

  • Dec 30, 2020 10:45 (IST)

    Mrs Bectors Food outlook

    Keshav Lahoti-Associate Equity Analyst, Angel Broking said",Mrs Bectors Food 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. Post that, stock got in correction mode. In the last 2 days, the stock has corrected by ~15%. Such correction was in line with our expectation, as after the sharp rally in the stock its was commanding a premium in valuation over well established peers such as Britannia Industries. We are bullish on Mrs Bector long term prospects. But at the current valuation, we believe there are better investment options available in the FMCG space.

  • 10:45 IST: Keshav Lahoti-Associate Equity Analyst, Angel Broking said",Mrs Bectors Food 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. Post that, stock got in correction mode. In the last 2 days, the stock has corrected by ~15%. Such correction was in line with our expectation, as after the sharp rally in the stock its was commanding a premium in valuation over well established peers such as Britannia Industries. We are bullish on Mrs Bector long term prospects. But at the current valuation, we believe there are better investment options available in the FMCG space.

  • Dec 30, 2020 10:32 (IST)

    Rossari Biotech outlook

    Keshav Lahoti-Associate Equity Analyst, Angel Broking said,"Rossari Biotech is one of the leading specialty chemicals manufacturing companies in India. Company caters to the FMCG, apparel, and poultry and animal feed industries, which contributed 46.8%, 43.7% and 9.5% respectively to F.Y.20 revenue. Company stock price closed up by 7.7% for the day due to an improving demand scenario. Company is in the process of significantly increasing its capacity to meet the growing demand, which provides strong growth visibility for the next 3-4 years. From the IPO issue price, the company has given 133% return.  Although, We believe the company will command a premium over most of its chemical peers as it is net debt free and it has better asset turnover, working capital days, ROE and ROCE than most of its peers. Although, after the sharp rally in the stock, due to a bit stretched valuation, we are cautiously positive on the company."

     

  • 10:32 IST: Keshav Lahoti-Associate Equity Analyst, Angel Broking said,"Rossari Biotech is one of the leading specialty chemicals manufacturing companies in India. Company caters to the FMCG, apparel, and poultry and animal feed industries, which contributed 46.8%, 43.7% and 9.5% respectively to F.Y.20 revenue. Company stock price closed up by 7.7% for the day due to an improving demand scenario. Company is in the process of significantly increasing its capacity to meet the growing demand, which provides strong growth visibility for the next 3-4 years. From the IPO issue price, the company has given 133% return.  Although, We believe the company will command a premium over most of its chemical peers as it is net debt free and it has better asset turnover, working capital days, ROE and ROCE than most of its peers. Although, after the sharp rally in the stock, due to a bit stretched valuation, we are cautiously positive on the company."

     

  • Dec 30, 2020 10:24 (IST)

    Global markets mixed today

    Asian markets are trading mixed tracking overnight US markets which snapped its recent winning steaks. Japan and South Korean markets will be closed tomorrow.

    US markets closed in red pulling back from recent record highs as hopes for bigger government aid faded while dollar weakened.

    European markets closed higher taking cues from overnight US markets and positivity surrounding US covid-19 relief signed recently by Trump and Brexit trade deal.


     

  • 10:24 IST: Asian markets are trading mixed tracking overnight US markets which snapped its recent winning steaks. Japan and South Korean markets will be closed tomorrow.

    US markets closed in red pulling back from recent record highs as hopes for bigger government aid faded while dollar weakened.

    European markets closed higher taking cues from overnight US markets and positivity surrounding US covid-19 relief signed recently by Trump and Brexit trade deal.


     

  • Dec 30, 2020 10:24 (IST)

    Indian Banks outlook

    LKP Securities said in its note,"CY 2020 witnessed the Underperformance of the Bank Nifty (-3%) against the Nifty50 (+14%). Our 2020 Top Picks -SBI, KMB, HDFC Bank, ICICI Bank & IndusInd Bank outperformed Nifty 50 by 18% by returning close to 40% post our recommendation in September. In CY2021E, we expect significant recovery in Indian Banks on all major fronts, i:e; lower than expected credit cost, sound balance sheet growth, improving C/I ratio and increased profitability. Surge in Digital Banking will help reduce operating cost. The overall performance in 2QFY21 and management commentary indicates lower than anticipated stress. The collection efficacy (90% to 95%) has seen considerable improvement, while the management commentary and industry data suggests the quantum of restructuring (~1% to 4% of book) would be lower than anticipated earlier. The bulky contingency buffer seems to be adequate to safeguard the profitability of the banks under our Coverage Universe. The disbursements are at pre-covid levels led by ECLGS and secured home loans. We estimate further improvement going forward. CY 2020 witnessed the Underperformance of the Bank Nifty (-3%) against the Nifty50 (+14%). This strengthens our hypothesis that the Bank Nifty led by large banks would outperform the market in CY2021. As the large banks with digital adaptation are likely to garner more market share, We recommend ICICI Bank, HDFC Bank, Indusind Bank, SBI and BOB

     

  • 10:24 IST: LKP Securities said in its note,"CY 2020 witnessed the Underperformance of the Bank Nifty (-3%) against the Nifty50 (+14%). Our 2020 Top Picks -SBI, KMB, HDFC Bank, ICICI Bank & IndusInd Bank outperformed Nifty 50 by 18% by returning close to 40% post our recommendation in September. In CY2021E, we expect significant recovery in Indian Banks on all major fronts, i:e; lower than expected credit cost, sound balance sheet growth, improving C/I ratio and increased profitability. Surge in Digital Banking will help reduce operating cost. The overall performance in 2QFY21 and management commentary indicates lower than anticipated stress. The collection efficacy (90% to 95%) has seen considerable improvement, while the management commentary and industry data suggests the quantum of restructuring (~1% to 4% of book) would be lower than anticipated earlier. The bulky contingency buffer seems to be adequate to safeguard the profitability of the banks under our Coverage Universe. The disbursements are at pre-covid levels led by ECLGS and secured home loans. We estimate further improvement going forward. CY 2020 witnessed the Underperformance of the Bank Nifty (-3%) against the Nifty50 (+14%). This strengthens our hypothesis that the Bank Nifty led by large banks would outperform the market in CY2021. As the large banks with digital adaptation are likely to garner more market share, We recommend ICICI Bank, HDFC Bank, Indusind Bank, SBI and BOB

     

  • Dec 30, 2020 09:50 (IST)

    Market outlook

    On markets opening --Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments said,"The markets seem a little nervous to hit the 14000 mark. We have gone around that level yesterday and today. It is really a mere formality to achieve that as the Nifty seems poised to conquer 14100 as a potential target. A good support lies at 13600 so traders can consider buying into this trend during any intra day correction."

     

  • 09:50 IST: On markets opening --Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments said,"The markets seem a little nervous to hit the 14000 mark. We have gone around that level yesterday and today. It is really a mere formality to achieve that as the Nifty seems poised to conquer 14100 as a potential target. A good support lies at 13600 so traders can consider buying into this trend during any intra day correction."

     

  • Dec 30, 2020 09:42 (IST)

    Global markets

    Geojit Financial Services said," Overseas, Asian stocks are trading mixed on Wednesday after major indexes on Wall Street snapped their multi-day winning streaks overnight.

    In US, stocks slipped on Tuesday after reaching fresh all-time highs as traders weighed the possibility of even more fiscal stimulus being approved by Congress. All three of the major averages hit record highs at the open."

     

  • 09:42 IST: Geojit Financial Services said," Overseas, Asian stocks are trading mixed on Wednesday after major indexes on Wall Street snapped their multi-day winning streaks overnight.

    In US, stocks slipped on Tuesday after reaching fresh all-time highs as traders weighed the possibility of even more fiscal stimulus being approved by Congress. All three of the major averages hit record highs at the open."

     

  • Dec 30, 2020 09:41 (IST)

    Market outlook

    Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services said,"The bull run continued for the 5th consecutive day on the back of FII flows which show no signs of abating. In fact, FII inflows may accelerate, going forward, since the weakness in the dollar continues with the dollar index dipping below 90. How long this inflows will continue? How high the indices can go? These are questions which cannot be answered with certainty now. Investors need to be cautious since there is no comfort in valuations. The latest RBI report warns of the sharp deterioration in the asset quality of banks post-moratorium. This is likely to impact banking stocks, particularly the PSU bank stocks which have been  rallying recently"

  • 09:41 IST: Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services said,"The bull run continued for the 5th consecutive day on the back of FII flows which show no signs of abating. In fact, FII inflows may accelerate, going forward, since the weakness in the dollar continues with the dollar index dipping below 90. How long this inflows will continue? How high the indices can go? These are questions which cannot be answered with certainty now. Investors need to be cautious since there is no comfort in valuations. The latest RBI report warns of the sharp deterioration in the asset quality of banks post-moratorium. This is likely to impact banking stocks, particularly the PSU bank stocks which have been  rallying recently"

  • Dec 30, 2020 09:35 (IST)

    Opening session

    Market indices erased pre-open gains and fell to bearish territory on Wednesday, after six sessions of straight gains amid mixed cues from global markets. Sensex declined 70 points to 47,542 and Nifty was trading 20 points lower at 13,912.

  • 09:35 IST: Market indices erased pre-open gains and fell to bearish territory on Wednesday, after six sessions of straight gains amid mixed cues from global markets. Sensex declined 70 points to 47,542 and Nifty was trading 20 points lower at 13,912.

  • Dec 30, 2020 09:27 (IST)

    Nifty technical outlook: 14K merely formality now

     Sameet Chavan (Chief Analyst-Technical and Derivatives, Angel Broking)said,"It is quite impressive to see how our markets found their mojo back after last Monday's mayhem. Before anyone could realise, we not only recouped all losses, but surpassed the previous high with an ease. Now, 14000 is merely a formality and looks like we are going to end this year around this magical figure. For the coming session, 13975 - 14050 are the levels to watch out for; whereas on the lower side, supports are placed at 13900 - 13850.

    Today, although broader market saw some profit booking; it was good to see strong participation from the banking space. If this move has to continue from here on, the banking index should continue its upward march towards its record high. Traders are advised to concentrate on individual stocks but needs to be very fussy, because going ahead, it would become very difficult to pick right trades".

     

  • 09:27 IST:  Sameet Chavan (Chief Analyst-Technical and Derivatives, Angel Broking)said,"It is quite impressive to see how our markets found their mojo back after last Monday's mayhem. Before anyone could realise, we not only recouped all losses, but surpassed the previous high with an ease. Now, 14000 is merely a formality and looks like we are going to end this year around this magical figure. For the coming session, 13975 - 14050 are the levels to watch out for; whereas on the lower side, supports are placed at 13900 - 13850.

    Today, although broader market saw some profit booking; it was good to see strong participation from the banking space. If this move has to continue from here on, the banking index should continue its upward march towards its record high. Traders are advised to concentrate on individual stocks but needs to be very fussy, because going ahead, it would become very difficult to pick right trades".

     

  • Dec 30, 2020 09:16 (IST)

    FII action on Tuesday

    Foreign portfolio investors (FPIs) bought shares worth Rs 2,349.53 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 2,010.50 crore in the Indian equity market on 29 December, provisional data showed.

  • 09:16 IST: Foreign portfolio investors (FPIs) bought shares worth Rs 2,349.53 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 2,010.50 crore in the Indian equity market on 29 December, provisional data showed.

  • Dec 30, 2020 09:10 (IST)

    Tuesday's closing

    Market indices continued racing to fresh peaks on Tuesday for the fifth straight session and ended at record highs, tracking gains in index majors, amid a broad-based rally in global markets. After opening at lifetime highs, Sensex ended 259 points higher at 47,613 and Nifty gained 59 points to close at 13,932. During today's session, Sensex hit an all-time high of 47,714 and Nifty logged a lifetime high of 13,967.

    On the currency front, rupee appreciated by 7 paise to close at 73.42 per US dollar today, tracking weakness in the American currency and positive domestic equities.

  • 09:10 IST: Market indices continued racing to fresh peaks on Tuesday for the fifth straight session and ended at record highs, tracking gains in index majors, amid a broad-based rally in global markets. After opening at lifetime highs, Sensex ended 259 points higher at 47,613 and Nifty gained 59 points to close at 13,932. During today's session, Sensex hit an all-time high of 47,714 and Nifty logged a lifetime high of 13,967.

    On the currency front, rupee appreciated by 7 paise to close at 73.42 per US dollar today, tracking weakness in the American currency and positive domestic equities.