Stock Market HIGHLIGHTS: IT, realty stocks trigger Friday fall; Sensex down 390 points, Nifty over 100 points lower
Stock Markets HIGHLIGHTS: Indian frontline indices S&P BSE Sensex and NSE Nifty50 extended their losses on Friday as the session progressed after begging on a positive note. While Sensex tumbled nearly 389.01 points or 0.62 per cent and closed at 62,181.67, Nifty50 settled down 112 points or 0.61 per cent at 18,496.60. Bank Nifty finished at 43,633.45, up 36.60 points or 0.08 per cent.
Stock Markets Today Live: Indian frontline indices S&P BSE Sensex and NSE Nifty50 extended their losses on Friday as the session progressed after begging on a positive note. While Sensex tumbled nearly 389.01 points or 0.62 per cent and closed at 62,181.67, Nifty50 settled down 112 points or 0.61 per cent at 18,496.60. Bank Nifty finished at 43,633.45, up 36.60 points or 0.08 per cent.
Here are top takeaways from the day's action:
1) With an exception of Thursday, frontline indices ended flat or negative over the five trading sessions.
2) IT stocks were catalyst in today's fall with HCL Technologies and Infosys becoming major culprits. The other losers were Tech Mahindra, Wipro and TCS.
3) In the 50-stock Nifty50 index, 17 stocks advanced while 33 declined. The top gainers around this time were Nestle India, Sun Pharmaceuticals, ITC, Dr Reddy's and Titan while the top losers were HCL Technologies, InfosysTech Mahindra, Wipro and TCS.
4) Out of the 15 Nifty sectoral indices, 11 ended in the red with top Nifty IT, Nifty Realty, Nifty Metal, among the worst performers. The gainers were Nifty FMCG, Nifty Pharma and Nifty Healthcare Index.
5) Stock specific action was seen i broader markets with Yes Bank, Tube Investments of India and Delhivery among the top gainers in mid cap space. Indian Bank, Bank of India and Union Bank were biggest losers on Nifty Mid Cap 100 Index. In Nifty Small Cap 100 index, 80 stocks fell while 20 gained. The top gainers were Birla Corp, VIP India and KEI Industries while BCG and IDBI were worst performers.
6) Out of 3,640 stocks that were listed on the BSE, advances were 1,207 while declines were 2,309 while 124 stocks remained unchanged. 133 stocks hit their 52-week highs while 33 hit their 52-week lows.
7) Rupee rises 10 paise to close at 82.28 (provisional) against US dollar.
8) February Gold futures were trading at Rs 54164 per 10 gram on MCX and were up by Rs 113 and 0.21 per cent while March Silver futures were trading at Rs 67155, down Rs 121 or 0.21 per cent.
9) Dalal Street will be closely watching the developments in US when markets reopen on Monday as Federal Reserve will announce its monetary policy rates on 14 December.
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Live Markets - Nifty Sectoral Indices - Winners and Losers
While Nifty IT was the major reason for bearish trends in the markets, realty metal and energy stocks also played their part. Nifty PSU Bank Nifty Realty, Nifty Metal and Nifty Oil & Gas indices were down 2.82 per cent, 2.28 per cent, 1.22 per cent and 1.02 per cent.
Stocks in News: Hindustan Unilever
Hindustan Unilever Limited’s (HUL:NSE) foray into health and wellness segment augurs well for this fast moving consumer goods company. Multiple brokerages have recommended this stock with Nomura remaining most bullish on this counter. It has recommended a buy on HUL for a price target of Rs 3175, estimating Rs 470 per share gains.
Jefferies and City are almost equally bullish on this counter. Both have recommended a buy on HUL for a price target of Rs 3050, estimating Rs 350 per share upside.
The stock was recommended at a price of Rs 2705.
On Thursday, HUL reported to exchanges about its plan to acquire stake in two health & wellbeing companies - Zywie Ventures Private Limited (OZiva) Nutritionalab Private Limited (Wellbeing Nutrition).
Live Markets: Nifty top Gainers and Losers
Source: NSE Markets Live: Index Constribution
Live Markets - Nifty IT Index
Source: NSE Stock Market Today LIVE: Sensex tumbles over 450 points
After opening flat on Friday, Sensex has fallen over 450 points.
Stock Market Today LIVE: Nomura sees Rs 470 per share gains
Hindustan Unilever Limited’s (HUL:NSE) foray into health and wellness segment augurs well for this fast moving consumer goods company. Multiple brokerages have recommended this stock with Nomura remaining most bullish on this counter. It has recommended a buy on HUL for a price target of Rs 3175, estimating Rs 470 per share gains. READ MORE
Stock Market Today LIVE: Nifty IT down by 2.71%
Stock Market Today LIVE: Sanjiv Bhasin's recommendations on shares
Bhasin, while speaking to Managing Editor of Zee Business Anil Singhvi said that IndusInd Bank, ABB India, and Aditya Birla Capital which have outperformed, were previously recommended by him. READ MORE
Stock Market Today LIVE: Top gainers and losers
IT shares like HCL, Wipro TCS are among the top losers at BSE.
Stock Market Today Live: HCL share prices dip over 6%
Share prices of HCL Technologies Ltd have fallen 6.56 per cent or Rs 72.30 on Friday. The scrip was trading at Rs 1,029.05 at around 11:15 am. The counter had closed at 1,101.35 in the last trading session.
Stock Market Today Live: Paytm shares jump over 4%
Shares of One97 Communications parent company of Paytm traded over 4 per cent on the upside as the company announced a board meeting to decide on buyback of shares. READ MORE
Stock Market Today Live: Why Paytm planning for buyback? Watch Anil Singhvi's view
Outlook for Indian equity market looks positive
Anand Rathi - Founder & Chairman Anand Rathi Group - said that from the medium term, that is, beyond the next 12 months, the outlook for Indian equity market looks positive. At the bellwether index level, we expect 11 to 13 per cent annualized return over the next three years.
Stock Market Today Live: Yes Bank shares jump over 13%
Shares of Yes Bank surged around 13.52 to trade at 20.15 in early trade. The scrip had closed at Rs 17.75 in the last trading session.
Asian Markets and Thursday Recap
Asian markets was also buzzing with positive action with Nikkei 225 trading at 27,873.30, up nearly 300 points or 1.08 per cent. China' Shanghai Composite was trading at 3,198.87, flat, though with a positive bias. Hang Seng was tradng at 19,621.66, up 171.43 or 0.88 per cent.
On Thursday, US markets settled positively with Dow 30 closing with a lead of 183 points or 0.55 per cent at 33,781.50 while S&P 500 settled at 3,963.51, 29.59 points or 0.75 per cent higher. Nasdaq Composite finished at 11,082, up 123.45 points or 1.13 per cent. Apple, Microsoft and Amazon stocks closed with gains.
Stocks in News: Paytm shares gaines over 5 per cent in intitial trade and were trading at Rs 530 on the NSE. The intraday high was Rs 544. The stock shot up on news of share buyback news. The company board will meet on 13 December to take a call.
Rupee Vs Dollar - Rupee today opened 11 paise up against the USD at 82.31
Stocks in Focus: HUL - what top brokerages say
- CLSA on Hindustan Unilever (CMP: 2705)
Maintain Outperform, Target 2950
Foray into health & wellness
Strategic investments in Oziva & Wellbeing Nutrition brand portfolio
In potential Rs300bn market for vitamins, minerals & supplements in next 5 yrs,
Co is looking to participate in high growth segments
- Citi on Hindustan Unilever (CMP: 2705)
Maintain Buy, Target 3050
Announced entry into health & wellbeing
Seeks investment in two digital first brands
Like HULs strategic intent to target bolt on acquisitions
As per mgmt.,vitamins, minerals & supplements category
can potentially become Rs300bn in medium term
Co intends to focus on some high-growth benefit spaces within VMS
- Jefferies on Hindustan Unilever (CMP: 2705)
Maintain Buy, Target 3050
- JP Morgan on Hindustan Unilever (CMP: 2705)
Maintain Overweight, Target 2800
- Morgan Stanley on Hindustan Unilever (CMP: 2705)
Maintain Equalweight, Target 2230
Announced strategic investments to foray into "Health & Wellbeing' category
Management expects Vitamins, Minerals & Supplements Market to be Rs300bn in next 4-5 yrs
These deals not material in terms of co's rev (<1%) & cash balance (5%)
- Nomura on Hindustan Unilever (CMP: 2705)
Maintain Buy, Target 3175
Foray into high-growth Health & Wellbeing space
Right partners to accelerate growth momentum
H&W market at inflection point
Management expects both these businesses to accelerate growth & balance margins in long run
(Disclaimer: The views/suggestions/advises expressed here in this article is solely by investment experts. Zee Business suggests its readers to consult with their investment advisers before making any financial decision.)
Anil Singhvi Strategy on Nifty and Bank Nifty - key support and resistant levels
Anil Singhvi Strategy on Nifty, Bank Nifty - key support and resistance levels
Currency Market Outlook - Rupee Vs Dollar
"Indian Rupee which closed at 82.44 yesterday is set to open at 82.24 this morning and the expected range is 82.00 to 82.50 with oil companies eyeing lower ĺevels to buy $. We may expect some inflows next week as companies raise funds/IPOs/stake sales," Anil Kumar Bhansali, Head of Treasury at Finrex Treasury Advisors LLP said.
Exporters to sell the upticks towards 82.50 while importers may buy dips for near term hedges. 1 year premiums were slightly up yesterday at 1.81 per cent, Bhansali said.
"The dollar index fell to 104.58 as Euro and GBP went up while brent crude fell to USD 76.76 per barrel. The US 10-year yield was at 3.47 per cent. Most Asian currencies recovered against USD as Yuan rose to 6.95, KRW to 1305 and IDR to 15595," he further said.
(Disclaimer: The views/suggestions/advises expressed here in this article is solely by investment experts. Zee Business suggests its readers to consult with their investment advisers before making any financial decision.)
Trading Strategy by Anuj Gupta of IIFL Securities
BUY MCX GOLD Feb AT 53900 STOP LOSS 53650 TARGET 54300
BUY MCX SILVER Mar AT 66400 STOP LOSS 65800 TARGET 67800
Buy MCX CRUDEOIL Dec AT 5900 STOP LOSS 5800 TARGET 6180
Buy MCX COPPER Dec AT 703 STOP LOSS 696 TARGET 711
Buy NSE NIFTY AT 18650 STOP LOSS 18500 TARGET 18800
BUY BANKNIFTY AT 43450 STOP LOSS 43100 TARGET 43900
BUY NCDEX JEERA DEC AT 25600 STOP LOSS 25300 TARFET 26200
(Disclaimer: The views/suggestions/advises expressed here in this article is solely by investment experts. Zee Business suggests its readers to consult with their investment advisers before making any financial decision.)
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