Ajit Mishra, VP - Research, Religare Broking

Markets regained strength and posted decent gains, supported by upbeat global cues. The latest developments on the stimulus package in the US boosted sentiments across the globe including India. In absence of any major domestic event, global cues viz. news related to the US Stimulus and Fed decision on interest rates would remain in the focus. Almost all the sectors are contributing to the rally so the focus should remain on the selection of stocks.

Dec 16, 2020 4:09 PM

Manish Hathiramani, Proprietary Index Trader and Technical Analyst, Deen Dayal Investments

The Nifty is at the upper end of the resistance range of 13,400-13,700. We should be watchful here - traders should consider booking profits at these levels and upgrade the stops too. If we can get past 13,700 on a closing basis, we could see a renewed rally up.

Dec 16, 2020 3:50 PM

Market at Close

Sensex & Nifty Post Record Closing Highs; Midcap Index Approaches 21,000

Nifty Bank Underperforms Frontline Indices; ICICI & SBI Top Losers

Nifty Gains 115 Points To 13,683 & Sensex 403 Points To 46,666

Nifty Bank Gains 7 Pts To 30,698 & Midcap Index 238 Pts To 20,906

35 Nifty Stocks Close In The Green; HDFC, Hindalco, UPL & Titan Top Gainers

Realty Gains The Most Amongst Indices, Led By Indiabulls Real & DLF

Bharti Airtel Moves 2% Higher After Cabinet Approves Spectrum Auction

Burger King Gains For 3rd Straight Day Since Listing

Shipyard Cos Like Cochin Shipyard & Mazagon Dock Gain 4-14%

Man Ind Surges 7% After Promoter Releases Pledge On Over 14% Equity

Market Breadth In Favour Of Advances; Advance-Decline Ratio At 3:2

Dec 16, 2020 3:42 PM

Closing Bell |Indian benchmark equity indices, Sensex and Nifty ended at record highs level on Wednesday led by gains in metals, pharma, auto and realty stocks amid positive global cues. The Sensex ended 403.29 points or 0.87 percent higher at 46,666.46 while the Nifty gained 114.85 points or 0.85 percent to close at 13,682.70. Broader indices outperformed the benchmarks with Nifty Midcap100 and Nifty Smallcap100 ending more than 1 percent higher. Among sectors, Nifty Realty rallied the most over 5 percent followed by Nifty Metal, Nifty Pharma, Nifty Auto and Nifty IT. The Nifty PSU Bank was the only to end in the red.

Dec 16, 2020 3:39 PM

Union Minister Ravishankar Prasad | Cabinet approves auction of spectrum in 700 MHz, 800 MHz, 900 MHz, 1800 MHz, 2100 MHz, 2300 MHz and 2500 MHz frequency bands, for a validity period of 20 years. A total of 2251.25 MHz is being offered with total valuation of Rs 3,92,332.70 crore (at reserve price).

Dec 16, 2020 3:26 PM

Dec 16, 2020 3:16 PM

Just In | Cabinet approves spectrum auction-related guidelines.

Dec 16, 2020 3:12 PM

RBL Bank to migrate to Infosys’ Finacle Digital Banking Solution Suite on Cloud

Infosys Finacle, part of EdgeVerve Systems, a wholly owned subsidiary of Infosys, said that RBL Bank will migrate from an on-premise deployment to a modern Cloud Native Computing Foundation (CNCF) Certified, Kubernetes managed, containerized ecosystem. The shift will enable RBL Bank to power its business with a state-of-the-art private cloud architecture, enabling it to cost-effectively scale at will, while delivering new digital banking capabilities at speed. The bank will gain from the automated, self-service capabilities of the cloud-native architecture to realize greater responsiveness, agility and reliability required to succeed in today’s digital reality.

Dec 16, 2020 3:11 PM

Just In | NIIT and Unilever extend partnership with a 3-year contract extension.

Dec 16, 2020 3:05 PM

Mrs Bectors Food Specialities IPO subscribed over 7 times so far on Day 2; retail portion booked 12 times

The Rs 540.54 crore-IPO of Mrs. Bectors Food Specialties Ltd has received a robust response from investors as the issue was subscribed 7 times so far on December 16, the second day of bidding.

The issue of the bread and biscuit maker received bids for 9.96 crore equity shares against an offer size of more than 1.32 crore equity shares (excluding anchor book), data available on the exchanges showed.

The portion set aside for retail investors and employees was subscribed 12.58 times and 11.7 times respectively while that of non-institutional investors saw 4.15 times subscription. The portion reserved for Qualified institutional buyers witnessed 1.19 times subscription.

Dec 16, 2020 2:50 PM

P-notes investments touch 27-month high of Rs 83,114 cr in November

Investments through participatory notes (P-notes) in the Indian capital market surged to a 27-month high of Rs 83,114 crore at November-end driven by continued liquidity and improvement in second-quarter corporate earnings. P-notes are issued by registered foreign portfolio investors (FPIs) to overseas investors who wish to be part of the Indian stock market without registering themselves directly. They, however, need to go through a due diligence process.

According to the Securities and Exchange Board of India (Sebi) data, the value of P-note investments in Indian markets — equity, debt and hybrid securities — increased to Rs 83,114 crore at November-end from Rs78,686 crore at October-end. This was the highest level of investment since August 2018, when fund inflow through such route stood at Rs 84,647 crore.

The investment through this route had declined to Rs 69,821 crore at the end of September 2020. Prior to that, the investment level was at Rs 74,027 crore,Rs 63,228 crore, Rs 62,138 crore, Rs 60,027 crore and Rs 57,100 crore at the end of August, July, June, May and April, respectively. Read more here.

Dec 16, 2020 2:46 PM

Just In | Cabinet approves export subsidy to sugar mills for the marketing year 2020-21, reports said.

Dec 16, 2020 2:33 PM

Auto stocks rally as Parliamentary panel bats for stimulus package, 10% cut in GST

Auto shares rallied on Wednesday after a Parliamentary panel report recommended a stimulus package focused on the sector to boost demand, particularly the recommendation to slash goods and services tax (GST) rate by 10 percent.

The sectoral gauge, Nifty Auto index gained over a percent with all but one constituent trading in the green. The index has rallied almost 20 percent since the start of October. The rally has been fueled largely by rising demand on the back of the festive season and a preference towards personal mobility amid the COVID-19 pandemic.

A Parliamentary panel report noted that the slowdown in the auto sector has led to a loss of 3.4 lakh jobs and the sector could see two consecutive years of contraction.

The sector needs a focussed stimulus package, the panel said, while recommending a 10 percent GST rate reduction on new vehicles to offset price increase and stimulate demand.

It further suggested reducing GST on used cars to 4 percent from the current 12-18 percent to generate demand. Read more here.

Dec 16, 2020 2:24 PM

Dec 16, 2020 2:10 PM

Market Watch: Aditya Agarwala, Yes Securities

“Bharti Airtel, after good consolidation it looks like it is going to breakout from that narrow range and going to trade above its 200 DMA which is closer to about Rs 507-508 levels. Once that is taken out, I see a good long rally in Bharti Airtel to levels of Rs 525-535. So one can buy at current levels and look for a target of Rs 525-535 with a decent stop loss at 496 on the downside.”

“Bosch is one stock which is actually coming out of a consolidation after a good long consolidation. I see good volume activity as well in the recent times. So one can go ahead and look to buy Bosch. After good rally, stock has witnessed intraday dip and so this intraday dip can be bought into. Looking at a target of Rs 13,800 with a stop loss at Rs 13,100 on the downside.”

Dec 16, 2020 1:55 PM

Load more