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Stock Market HIGHLIGHTS: Nifty, Sensex end December Series on strong note helped by Bharti Airtel, SBI
Written By Shivendra Kumar
Edited By ZeeBiz WebTeam
Published: | Updated:
Stock Market HIGHLIGHTS: Singapore-based SGX Nifty recovered 100 points though the bias was negative. It was down by 17 points or 0.09 per cent at 18,120. Dow Futures were trading at 32,939.30, up 63 points or 0.19 per cent
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Stock Market Today, Thursday, 29 December, 2022
Stock Market HIGHLIGHTS: Bulls helped Indian frontline indices S&P BSE Sensex and NSE Nifty50 to claw back in the green in the final hour of trading. Sensex ended at 61,133.88, up 223.60 points or 0.37 per cent while broader market Nifty50 closed at 18,191, up 68 points or 0.38 per cent. Banking gauge Nifty Bank finished 424 points or 0.99 per cent higher at 43,252.35.
Key takeaways from day's action:
1) Nifty traded in 237 point range while Sensex in 730 points. Both benchmarks opened in the red and traded in a narrow range for most part of the trading session. Bulls clawed back in the final hour to give a positive closing, breaking a two-day losing streak. Market breadth improved towards the end as buying resumed. The recovery was led by Bharti Airtel and State Bank of India (SBI) shares.
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2) In the 50-stock Nifty, 33 advanced. The top gainers were Bharti Airtel, Eicher Motors, SBI, Tata Steel and Axis Bank while top losers were Apollo Hospitals, Tata Motors, Titan, Divi's Laboratories and Ultratech Cement Company.
3) Out of 15 Nifty sectoral indices, 5 ended in the green. The top gainers were Nifty Metal (+0.67 per cent) banks and selected large cap IT stocks like HCL Tech, Wipro and Infosys. The worst performing indices were Nifty FMCG, Nifty Realty and Nifty Pharma.
4) There was stock specific action in broader markets. In the 100-stock Nifty Mid Cap 100, 56 advanced, 42 advanced and 2 remained unchanged. The top gainers were Adani Wilmar, Max Healthcare and Federal Bank while the top losers were Shriram Finance, Page Industries and Ramco Cements. In the 100-stock Small Cap Index, 41 advanced, 57 declined and 2 remained unchanged. The top gainers were Aeigis Logistics, KEC International ad Indiabulls Housing Finance while the top losers were Amara Raja Batteries, Easy Trip and UTI AMC.
5) India VIX, a measure of volatility in Nifty ended 1.39 per cent down at 15.18.
6) KFin Technologies stock was listed today at a premium of Re 1 per share on the NSE. The IPO was launched at an issue price of Rs 366 to raise Rs 1500 crore. The stock closed at Rs 364.40 and was down by Rs 1.60. It traded in the green briefly on the intraday basis. The issue was subscribed 2.59 times.
7) Out of 3,628 stocks that traded on BSE, advances were seen in 1,872 scrips while declines in 1,607. 149 stocks remained unchanged. 77 stocks hit their 52-week highs while 44 hit their 52-week lows.
8) Singapore-based SGX Nifty recovered early losses and was trading positive. It was up by 88 points or 0.49 per cent at 18,280. Dow Futures were trading at 32,925.50, up 49 points or 0.15 per cent.
9) Asian frontline indices Nikkei 225 and Shanghai Composite ended with losses on Thursday. While the former ended down nearly 250 points or 1 per cent at 26,093.70, the latter finished at 3073.70, down 13 points or 0.44 per cent.
10) The rupee consolidated in a narrow range and settled 2 paise lower at 82.82 (provisional) against the US dollar on Thursday, PTI reported. Dollar Index was steady while Asian currencies including IDR which had weakened in the morning had all gained by the end of the day, Anil Kumar Bhansali, Head of Treasury at Finrex Treasury Advisors LLP said. "Premiums continued to fall as RBI seemed to be absent from forward market. 1 year was trading at 2.05%. Expected range for tomorrow when we may expect to see some inflows is 82.50 to 83.00," Bhansali said.
11) Bullion also traded lacklustre around the time of filing this report. MCX February Gold futures were trading at Rs 54744 per 10 gram and were down by Rs 17 or 0.03 per cent. Meanwhile, March Silver futures were trading at Rs 68950 per kg, down by Rs 63 or 0.09 per cent.
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29 Dec 2022, 3:27 PM (IST)
Markets LIVE - Anil Singhvi's Recommendations
29 Dec 2022, 3:05 PM (IST)
Markets LIVE - Index Contribution
29 Dec 2022, 3:02 PM (IST)
Commodity Markets LIVE Trades on BSE
29 Dec 2022, 2:35 PM (IST)
Markets LIVE - Stocks to Buy is SBI
SBI SHARE PRICE: State Bank of India (SBI) shares have outperformed the broader market Nifty50 over one year period, yielding nearly 32 per cent returns against 5 per cent return generated by the benchmark index.
Technical analyst Nilesh Jain said that the view is positive on the overall PSU Bank segment, adding that the upside will continue in the SBI stock in the January 2023 series as well.
While banking and financial services stocks were witnessing selling pressure on Thursday, this index heavyweight was a silver lining. It was the top gainer on Nifty50 on the intraday basis and was trading at Rs 606 on the NSE, up by Rs 6.60 or 1.10 per cent.
Jain, who is Assistant Vice President - Lead Derivative and Technical Research at Centrum Broking, recommended buying SBI shares for targets of Rs 630 and Rs 650, estimating a 7 per cent upside from current levels. The support, he said, is at Rs 585.
Read More: Buy SBI shares for January series, says expert; check what is working for govt-owned bank
29 Dec 2022, 1:07 PM (IST)
Market LIVE: Stocks to Buy is Bajaj Finance
29 Dec 2022, 1:02 PM (IST)
Markets Live: What top brokerages recommend on GMR Airports, IPCA Labs, Biocon, IIFL Wealth Management
Kotak Institutional Equities on GMR Airports (CMP:39)
Maintain Buy, Target 43
(management meet)
Groups’s ADP converting Stake to the listed company level soon
Monetisation can help increase its retail quotient & take out debt
Remaining project capex is already fully funded
Motilal Oswal Securities on IPCA Labs (CMP:850)
Maintain Buy, Target 1000
(management meet)
Progressing steadily to reclaim growth path
Domestic formulation is key driver of its sales growth,
fueled by market outperformance in pain/dermatology/urology and supported by higher MR base
Building levers to almost double its api exports by FY27
Philip Captial on Biocon (CMP:264)
Maintain Buy, Target 350
(Management meet)
Successfully closed ambitious acquisition of Viatris’ biosimilar operation
Acquisition makes BBL a vertically integrated global biosimilar player; est. to achieve global scale with sales/EBITDA of US$ 1.58bn/ US$ 425mn in FY24
Kotak Institutional Equities on IIFL Wealth Management (CMP: 1753)
Maintain Buy, Target 2100
(management meet)
Operating Trends strong despite cautious 12 month outlook
IIFL one platform is gaining adoption from booth new & existing clients
Expansion & Launch of Mid-Market Proposition Next growth drivers
Motilal Oswal Securities on VRL Logistics (CMP: 528)
Maintain Buy, Target 730
Price hike in goods biz to support margins;
sale of bus biz augers well
Vol growth post 2Q remains robust despite festive demand receding
Expect Rev/EBITDA/PAT CAGR of 15%/13%/20% over FY22-24
Morgan Stanley on Gas Cos
Gas demand remains challenged with no material improvement
despite lower global import prices over past 3 mths
Power, industrial & city gas shift to alternatives fuel sustains
Domestic gas market share grinds higher & was at 58% highest in last decade
Prefer GAIL & IGL, Underweight – Petronet
(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.)
29 Dec 2022, 1:00 PM (IST)
Markets LIVE - Metal Stocks in Focus
29 Dec 2022, 12:56 PM (IST)
Stocks in Focus: Kfin Technologies
Stock claws back to the green zone after slipping into red immediately after getting listed. The stock made its stock market debut at Rs 367 on NSE. It was trading at Rs 368.55, up by Rs 2.55 or 0.70 per cent.
29 Dec 2022, 12:53 PM (IST)
Markets LIVE: Index Futures
Source: Comex
29 Dec 2022, 12:45 PM (IST)
Markets LIVE - Global Markets at Glance
Asian frontline indices Nikkei 225 and Shanghai Composite ended with losses on Thursday. While the former ended down nearly 250 points or 1 per cent at 26,093.70, the latter finished at 3073.70, down 13 points or 0.44 per cent.
Source: Comex
29 Dec 2022, 12:43 PM (IST)
Markets LIVE - NSE Rebalancing
29 Dec 2022, 12:41 PM (IST)
Markets LIVE - Why Tata Power stock is in news?
Tata Power Share Price: Power Sector is in focus now and Tata Power Company Limited is set for an upside, market expert Nilesh Jain said. He said that the risk to reward ratio is favourable over the long term horizon. The stock finds its resistance at Rs 220 which is also its immediate target, he said.
Tata Power stock will witness a breakout if this target is hit, opening a further upside, he added. He suggested to keep a stop loss at Rs 195.
The stock was trading at Rs 207.10 on the NSE around 11:10 am, down 0.55 per cent.
The stock is in news as Tata Power on Wednesday informed exchanges about its subsidiary Tata Power Renewable Energy Limited (TPREL) bagging an order from Tata Power Delhi Distribution Limited (Tata Power -DDL) for setting up a 225 MW hybrid power project in Karnataka.
Read More: Tata Power share price down by more than 30% from 52-week high; should you buy?
29 Dec 2022, 12:07 PM (IST)
Markets LIVE - Realty Sector's reality: What experts think?
A surge in post-pandemic pent-up demand helped India's property market overcome risks from rising interest rates this year but the dream run might face hurdles from global headwinds in 2023.
Any moderation in growth will mark a premature end to what industry watchers believe to be the start of a "long-term upcycle" in the Indian real estate sector.
The optimism emanates from record housing sales this year, surpassing the pre-COVID 2019 numbers and the previous high of 2014.
"2022 proved to be a successful year for the residential real estate market as momentum of sales and consolidation of players continued," property consultant Anarock's Chairman Anuj Puri said.
Fundamentally, the market is much more mature and stable than it was prior to the pandemic, he told PTI.
Puri said he is "hoping that 2023 calendar year is as vibrant as 2022 for the residential market, provided the headwinds of possible global recession, high inflation and interest rates and Covid resurgence doesn't become a spoilsport."
Realtors' apex body CREDAI's President Harsh Vardhan Patodia said he expects "strong and positive momentum to prevail in the Indian real estate market".
The International Monetary Fund has projected the global economy to shrink by 0.2 per cent in 2023. This would mean investment flows to developing economies from rich nations will slow. Many emerging markets and low-income countries are already facing pressures from a depreciating currency, capital outflows and inflation.
Nifty Realty share fell on Thursday tracking movement of the overall markets. In the 10-stock index, 3 advanced. Sobha, Sunteck and Prestige were the gainers. The losers were Godrej Properties, Oberoi Realty and DLF.
29 Dec 2022, 12:00 PM (IST)
Markets LIVE - Cement stocks in red
Cement stocks fell on Thursday as profit booking gripped the Dalal Street. Frontline indices Sensex and Nifty were down over 230 points and 80 points respectively.
- Ultratech Cement was trading at Rs 6,917.90 on the NSE, down 135.90 points 1.93 per cent.
- Shree Cement was trading at Rs 23,290 on the NSE, down 994 points 4 per cent.
- JK Cement was trading at Rs 2,936.25 on the NSE, down 75 points 2.51 per cent.
- Ambuj Cements was trading at Rs 509.45 on the NSE, down 9 points 1.73 per cent
29 Dec 2022, 11:38 AM (IST)
Markets LIVE - Banks & Financial Services Stocks feel pressure of profit booking
Banks and financial services stocks fell on Monday. Heavyweights like HDFC Bank, ICICI Bank, Axis Bank and Kotak Mahindra Bank trading in the red. SBI was the lone stock among large caps to be trading positive. Federal Bank was also trading positive.
PNB which came out of the F&O ban was down over 1.7 per cent.
29 Dec 2022, 11:36 AM (IST)
Commodity LIVE - Gold, Silver futures on MCX
29 Dec 2022, 11:23 AM (IST)
Markets LIVE - Nifty Metal in red; which stocks gained, fell
Markets were trading amid selling pressure in most sectors. All 15-sectoral indices were trading in the red. The top losers were FMCG, banks & financial services auto and consumer durables. Nifty metal was trading 6,592.20, down by 23.55 points or 0.36 per cent. The top losers were APL Apollo, Jindal Steel and Tata Steel while the top losers were Hindalco Industries, Welspun Corp and Ratnamani Metals. In the 15-stock index, 2 gained against 12 declines while 1 remained unchanged.
Metal stocks are in focus ever since China announced to relax Covid relaxation. Experts believe that development in China would positively impact steel demand and prices. Good buying was seen in metal stocks in the past few days with Tata Steel gaining 5 per cent in the past 5 sessions.
29 Dec 2022, 10:21 AM (IST)
Markets LIVE: Nifty Bank Rebalancing
29 Dec 2022, 10:16 AM (IST)
Markets LIVE - Sensex, Nifty Widen Losses as HDFC Twins Drag
Frontline Indices Nifty and Sensex widened their losses an hour after opening. Nifty Slipeed below 18000 on the intraday basis witnessing a 123 points fall or 0.68 per cent lower. Sensex was down by nearly 380 points or 0.62 per cent at 60,534.08. The markets fell on weakness in HDFC Bank, HDFC and Reliance Industries.
Source: NSE
29 Dec 2022, 10:03 AM (IST)
Markets LIVE - KFin Technologies stock slips after flat listing
KFin Tech shares were listed at a price of Rs 367 against an issue price of Rs 366. They slipped immediately after listing tracking overall weak market sentiments and were trading at Rs 362.45 on the NSE, down
by Rs 3.55 or 0.97 per cent at 10:06 am.
29 Dec 2022, 9:58 AM (IST)
Markets LIVE - Commodities Snapshot on MCX
MCX
29 Dec 2022, 9:57 AM (IST)
Markets LIVE - Sensex Top Gainers and Losers
29 Dec 2022, 9:55 AM (IST)
Markets LIVE - Nifty Movement in Charts
29 Dec 2022, 9:53 AM (IST)
Stocks in News - IRCTC
IRCTC denies claims of data breach; stock trades in red– Check price target
IRCTC share price: Indian Railway company IRCTC has denied the claims of data breach from its server and said that a sample has been tested which does not match the Application Programming Interface (API) history of IRCTC.
As of 9:36 am the stock opened at Rs 636 apiece and quoted 634 per share which was 0.74 per cent on the downside on NSE. On BSE the stock quoted Rs 634.20 apiece.
29 Dec 2022, 9:50 AM (IST)
Market LIVE - Nifty Top Gainers and Losers
Source: NSE
29 Dec 2022, 9:35 AM (IST)
Markets LIVE - IPO watch: KFin Tech IPO Listing today
KFin Technologies Listing Preview:
Expected to list near issue price of 366
Long Term Investors can HOLD
Short Term Investors keep Stoploss of 350
29 Dec 2022, 9:34 AM (IST)
Markets LIVE - Stocks in Ban
F&O Ban Update:
Out Of Ban: PNB
Already In Ban: IB Housing Finance, Balrampur ChiniNew In Ban: Nil
29 Dec 2022, 9:13 AM (IST)
Markets LIVE: Stocks to Buy Today
29 Dec 2022, 9:11 AM (IST)
Anil Singhvi Strategy on Nifty, Bank Nifty - Key Support and Resistance Levels
Global market cues remain weak as US markets closed lower than expected, Zee Business Managing Editor Anil Singhvi said while spelling out his strategy on Nifty and Bank Nifty. He said that it will be interesting to see as to what extent Indian markets will be able to digest this loss today which is also a day of monthly expiry. Expect some pressure to trickle down in our markets, he added. Amid negative global markets, positive domestic institutional investors (DIIs), negative foreign institutional investors (FIIs), neutral futures & options (F&O) and neutral sentiment cues, the short-term trend of the Indian stock markets will be positive on Thursday, December 29, 2022.
29 Dec 2022, 8:32 AM (IST)
Wednesday Market Recap
Stock Market HIGHLIGHTS: Indian frontline indices S&P BSE Sensex and Nifty50 ended flat on Wednesday trading in a narrow range for the entire session. Balance shifted between bulls and bears. While Sensex ended at 60,910.28, down by 17 points or 0.03 per cent, the broader market Nifty50 finished at 18,122.50, down just 9.80 points or 0.05 per cent. Banking gauge Nifty Bank closed 31 points or 0.07 per cent lower at 42,827.70.
Nifty50 traded in a 100-point range.
In the 50-stock Nifty, 19 stocks advanced against 31 declines. The top gainers were Power Grid, Titan, Mahindra & Mahindra, UPL and Maruti Suzuki while top losers were Bharti Airtel, Apollo Hospitals, Bajaj Finserv, Axis Bank and Hindalco Industries.
Out of 15 Nifty sectoral indices, 9 ended in the red. Pharma and healthcare stocks were worst performers today with declines seen in banks, IT and metal stocks. The best performing indices were Consumer Durables, Oil & Gas and auto stocks.
There was stock specific action in broader markets as well, with selling pressure playing strongly ahead of the monthly expiry on Thursday. In the 100-stock Nifty Mid Cap 100, 42 advanced, 56 declined and 2 remained unchanged. The top gainers were Adani Wilmar, Tata Teleservices Maharashtra and JSW Energy while top losers were Union Bank, Indian Bank and Bank of India. In the Nifty Small 100, 44 stocks advanced, 55 declined and 1 remained unchanged. The top gainers were Deepak Fertilizers, Lux Industries and GNFC while top losers were Maharashtra Bank, Brightcom Group and Amararaja Batteries.
29 Dec 2022, 8:24 AM (IST)
Markets LIVE - Trading Calls by Anuj Gupta of IIFL Securities
Dow at 33034
Support 32900 / 32650
Resistance 33300 / 33550
Sideways to Up
SGX Nifty at 18046
Suppport 17950 / 17800
Resistance 18200 / 18330
Sideways to Up
Bank Nifty at 42835
Support 42500 / 42200
Resistance 43250 / 43600
Sideways to Up
USDINR at 82.91
Support 82.70 / 82.50
Resistance 83.10 / 83.30
Sideways
Daily Calls
- Buy Gold February at 54400 STOP LOSS 54150 TARGET 54900
- BUY Silver MARCH at 68500 STOP LOSS 67800 TARGET 69500
- Sell MCX COPPER January AT 730 Stop Loss 737 target 720
- Sell Crude Oil January at 6600 Stop Loss 6750 target 6400
- Buy USINR January at 82.80 Stop Loss 82.60 target 83.10
(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.)
29 Dec 2022, 8:22 AM (IST)
Markets LIVE - Traders Diary: Buy, Sell or Hold Startegy of 20 Stocks
In today's edition of Traders Diary, Zee Business research team brings its exclusive research on 20 stocks that investors and traders can refer to while making their strategies in them. The research team of Senior Research Analyst Varun Dubey and Kushal Dubey recommends a buy, sell or hold strategy in cash stocks, futures and give their best picks for today.
29 Dec 2022, 8:01 AM (IST)
Good Morning! This is Shivendra Kumar and I am back with all the Live action from the stock markets. Watch this space to know all the updates.
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