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MARKETS: Sensex, Nifty clear gains; Auto, the FMCG weighs; IT is holding on

Lunch markets (1:30 p.m.)

LIVE Market Updates: Major benchmarks slid in the red for a brief moment, but quickly rebounded into the positive zone thanks to sustained buy support in IT and some financial stocks.

The Sensex hit a low of 57,716, then rose 115 points to 57,903. The Nifty added 30 points to 17,251.

Among the heavyweights in the index, Infosys, Reliance and Bajaj Finance contributed 210 points to BSE Sensex, while ICICI Bank and HDFC lost 60 points.

The BSE Midcap and Smallcap indices continued to languish in the negative zone, down 0.8% and 0.7% respectively. The overall scale was quite negative, with 1,900 stocks down against 1,386 stocks advancing on the BSE.

In the wider markets, Calcom Vision was stuck on the top 5% circuit for the 10th day in a row. In the process, the action also hit a new lifetime high at Rs 113.90 supported by large volumes. READ MORE



Meanwhile, neighboring Asian markets saw smart trading gains on Thursday. Nikkei gained more than 2%. Shanghai and Taiwan jumped 0.7% each, while Straits Times and Kospi added 0.5% each. Hang Seng rose 0.2 percent.

Primary market update

Surya Lifescience’s IPO was fully underwritten in a short time on day 1 of the offering, supported by strong retail demand. The public offering received bids of up to 1.40, with a retail quota subscribed 7.11 times and NII 40 percent at 1:10 p.m.

HP Adhesives was bought 5.67 times on day 2 of the offering, with a retail portion taken up 29.88 times and NIIs up to 86 percent. During this time, Data Patterns (India) was subscribed 15.80 times on the last day of the offer period. The retail quota had received bids up to 17 times, high net worth investors 22.93 times, and QIBs almost 8 times.

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Markets at 12 noon

LIVE Market Updates: Major benchmarks wiped out almost all of their gains and were on the verge of turning negative, before rebounding a bit.

BSE Sensex was up 53 points to 57,841, and Nifty had added 12 points to 17,233.

Infosys was the best winner, up 2.2% to Rs 1,772. Bajaj Finance also continues to trade with a gain of 2 percent. Tech Mahindra and Mahindra & Mahindra were the other notable winners.

Read also : Bajaj Finance and Bajaj Finserv may fall another 10% from current levels

Sun Pharma slipped 1.7% to Rs 762. Maruti, Bajaj Auto, IndusInd Bank and ICICI Bank were the other big losers.

Larger markets have weakened. The BSE Midcap and Smallcap indices fell 0.6% and 0.5% respectively. The overall scale also turned negative, with 1,759 shares down against 1,458 shares up on BSE.

In wider markets, Kitex Garmets, VIP Industries, Somany Home Innovation, Borosil Renewables, Nivartis, Hikal Chemicals, Raw Edge Industrial Solutions, Global Vectra, Borosil, TCI Finance, ARSS Infrastructure, Websol Energy and Nitco Tiles were the main winners .

In contrast, Piasalo Digital, Hindustan Construction, Patel Engineering, Satin Creditcare, TV18 Broadcast, Torrent Power, Vaibhav Global, Pearl Polymers and Ramky Infra were the big losers.

Recently listed Tega Industries continued to decline for the third consecutive trading session. The stock was down 2% and had lost 5% in the past three days. However, the stock continues to command a 33% premium over its issue price of Rs 453 per share. READ MORE

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Markets at 11 a.m.

LIVE market updates: Major benchmarks were trading on daily highs due to weakness in FMCGs and some auto and FMCG stocks. Computer and financial stocks mainly held the gains.

The BSE Sensex was up 232 points to 58,020, and the NSE Nifty had added 64 points to 17,285.

Bajaj Finance gained 2.5 percent. Infosys rose nearly 2% after the company announced plans to acquire Singtel’s delivery center in Malaysia for up to S $ 6 million. On the other hand, Sun Pharma, Maruti and PowerGrid Corporation were the main losers.

The larger indices were in the negative zone, however. The BSE Midcap and Smallcap indices fell 0.2% each.

In the wider markets, Borosil Renewables hit a new all-time high of Rs 722.85 thanks to large volumes. The flat glassmaker’s stock traded higher for the fifth day in a row, jumping 28% in the period. READ MORE

Indiabulls Housing Finance jumped 7% to a high of Rs 282.60 in early deals amid reports Sameer Gehlaut, the founder of the mortgage financier, will sell 11.9% of the company’s equity through a deal blocking window. About 47.34 million shares, representing 10.23% of the total capital of Indiabulls Housing Finance, changed hands on the NSE and ESB in the first few minutes of trading today. READ MORE

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Markets at 10 a.m.

LIVE market updates: Benchmarks failed to maintain their morning gains as earnings reserve emerged in auto, FMCG, PSU Banks and pharmaceutical stocks.

The S&P BSE Sensex did not peak and only gained 122 points to 57,911. The Nifty50 also fell back and was below 17,250.

The larger markets, however, were back in the red with the BSE MidCap and SmallCap indices down 0.27% and 0.16%, respectively.

The size of the market was neck and neck with 1,460 stocks in the green on BSE and 1,458 stocks in the red. The volatility index, India VIX, was down 3.8 percent, however.

Currency market: The rupee hit a 20-month low and was at its lowest level since April 28, 2020. The national currency opened weaker at 76.28 per US dollar compared to Wednesday’s close at 76.23 / $ .

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Opening bell

LIVE Market Updates: Asian stocks, including India, followed Wall Street higher on Thursday after the U.S. Federal Reserve announced it would end the stimulus to bond buying in March to put in place three rate hikes in interest next year to fight against runaway inflation.

The S&P BSE Sensex rose 482.5 points, or 0.83%, to quote at 58,270.5 levels at the start of trading. The NSE Nifty also climbed 142 points to trade to 17,362.

The broader BSE indices also rose in tandem and totaled 0.88 percent.

The Federal Open Market Committee (FOMC) presented a scenario in which the Covid-19 pandemic, despite the emergence of the Omicron variant, gives way to a set of favorable economic conditions, with inflation slowing down largely from it – even, interest rates rising comparatively slowly, and the unemployment rate remains low for years to come.

“The economy no longer needs increasing amounts of political support,” Fed Chairman Jerome Powell said at a press conference following the two-day policy meeting.

“A larger cut and three rate hikes of 25bp each in 2022 are negative from a market perspective, but the good news is that the Fed expects inflation to cool to 2.6% d ‘by the end of 2022 and fall further to 2.3% and 2.1% in 2022. 2023 and 2024 allowing a slower rise in the key rate to 1.6% by the end of 2023 and 2.1% of by the end of 2024. In other words, the conditions are favorable for a “soft landing” without major market disruptions. bouncing back strongly is good news. In India, the markets are positioned for volatility as the short term texture of the market is rally selling driven by relentless selling of FII. This trend could persist for a few more days, ”said VK Vijaykumar, chief investment strategist at Geojit Financial Services.

After a 3-day losing streak, Bajaj Finance rebounded more than 2% and was the top winner in BSE Sensex. Infosys, Bajaj Finserv, HCL Tech, SBI, Tech M and IndusInd Bank were the main winners.

In contrast, Sun Pharma, Asian Paints and HUL were the only losers.

Among sectors, the Nifty IT and Realty indexes climbed more than 1% each, while all others gained as much as 1%.

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Pre-open session

LIVE Market Updates:

BSE Sensex rose over 400 points in the pre-market session and was at 58,218. NSE Nifty, meanwhile, was up 112 points to 17,333.

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LIVE market updates: Bulls could return to Dalal Street on Thursday as the U.S. Federal Reserve Chairman announced policy statements on expected lines last night. At 8:20 a.m. SGX Nifty was at 17,363 from the Nifty spot close of 17,211 on Wednesday.

FOMC members have forecast three interest rate hikes in 2022, followed by three more rate hikes in 2023, according to the dot plot released by the US Federal Reserve. The market expected both tapering acceleration and a hawkish dot plot given the backdrop of high 40-year retail inflation and a strong job market.

In light of this, key indices in the United States ended with strong gains. The state-of-the-art Nasdaq zoomed 2.2%. The S&P 500 index jumped 1.6% and the Dow Jones 1.1%.

In Asia, Nikkei rose 1.4%, while Taiwan and Kospi rose 0.5% and 0.3% respectively. Shanghai and Straits Times added 0.1% each. Hang Seng, however, had lost one percent.

That said, fears of an increased withdrawal of funds by foreign investors (FIIs) and the weekly expiration of derivatives could keep indices volatile today.

Primary market update

Supriya Lifescience’s IPO will open for subscription today and close on December 20. The company plans to increase to Rs 700 crore through a new issue of shares valued at Rs 200 crore and an offer for sale valued at Rs 500 crore. Investors can bid for the IPO in the price range of Rs 265 to Rs 274, in lots of 54 shares.

HP Adhesives’ IPO was underwritten 3.48 times at the end of the first day of the offer period, with strong demand from retail investors (18.57 times the offers). Additionally, today is the last day to bid on the Data Patterns (India) IPO.


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