Stock Markets Highlight: Sensex, Nifty end with marginal gains as focus shifts to Fed outcome

Bank Nifty hits record high on the backdrop of financials which continues to outperformance

Financials continue to outperform on the back of strong credit growth, where non-food bank credit grew 18.3 per cent in Oct 2022 vs 6.9 per cent a year back, along with improving balance sheets, where most of the provisioning for bad assets is behind us with improving NIMs due to increasing interest rates where assets are getting re-priced faster than liabilities for banks. 

"We expect this outperformance for banks and the tailwind for the sector to continue for 2023. In the short term, after yesterday's inflation print in the US, there is an expectation in some quarters that the US Fed might turn less hawkish in the upcoming policy, which will support the markets. Our base case for Fed Policy on 14th December is a 50bps hike. If the hike is lower than that, we expect the risk assets, including emerging markets like India, to outperform in the near term," said  Nishit Master, Portfolio Manager, Axis Securities PMS.

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Stock Market Today Live: Expert view on Bank Nifty hitting record high

The leader of the current bull market is Banknifty, and it is continuing its leadership aggressively. According to Santosh Meena, Head of Research, Swastika Investmart Ltd., he fundamentals are also supporting the move in the banking index, and the outperformance is likely to continue for the next few quarters.

"However, frenzy-like moves in small banks may cool off, but the overall outlook for the banking industry remains positive. SBI and ICICI Bank may continue to provide support, whereas HDFC Bank and Kotak Bank may also catch up momentum. Technically, 44200 is an immediate hurdle, and 44700/45000 are the next resistance levels. On the downside, 43500 is an immediate and strong support at any profit booking, and 42000 will act as a base at any correction," Meena added.

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Stock Markets Today: Slowdown in US inflation 

Inflation in the United States slowed again last month in the latest sign that price increases are cooling despite the pressures they continue to inflict on American households.
Consumer prices rose 7.1 per cent in November from a year ago.

Oil rises to over $80/bbl 

Oil settled over $80 a barrel on Tuesday and recorded its biggest daily gains in over a month, as investors bought up risk assets after U.S. data pointed to slowing inflation.

Stock Markets Today Live: US stocks rise

U.S. stocks rose on Tuesday after a surprisingly small consumer price increase buoyed optimism that the Federal Reserve could soon dial back its inflation-taming interest rate hikes, but concerns remained the central bank could stay aggressive. According to preliminary data, the S&P 500 gained 28.75 points, or 0.72 per cent, to end at 4,019.31 points, while the Nasdaq Composite gained 111.56 points, or 1.00 per cent, to 11,255.29.

Stock Market LIVE Today: SGX Nifty hints for positive start

Stock markets are heading for a positive start today as SGX Nifty - an early indicator of sentiment on the NSE Nifty50 - was up by over 97 points, or 0.52 per cent to trade at 18,798. 

Stock markets in India are set to track strong global cues on Wednesday i.e. December 14. The benchmark indices 30-share BSE Sensex climbed 402.73 points or 0.65 per cent to settle at 62,533.30 on Tuesday. Similarly, the broader NSE Nifty advanced 110.85 points or 0.60 per cent to end at 18,608. Stay tuned to the LIVE Blog of Zee Business as I Raghwendra Shukla will keep you updated about all the latest updates on Stock markets today.