Share Market HIGHLIGHTS: Sensex ends 132 pts lower, Nifty50 slides to 20,901 as indices halt 7-day winning run, retreat from record highs
Share Market HIGHLIGHTS: Domestic equity benchmarks Nifty 50 and Sensex finished a lacklustre session mildly lower on December 7, halting a seven-day-long winning streak and retreating from all-time highs registered the previous day. Catch all the highlights of the December 7 session on Dalal Street, market commentary and analysis, the views of Zee Business Managing Editor Anil Singhvi and other experts, stocks recommendations, and much more on Zeebiz.coms blog.
Share Market Today LIVE: Domestic equity benchmarks Nifty 50 and Sensex finished a lacklustre session with losses of 0.2 per cent amid weakness in financial and FMCG shares, halting a seven-session-long winning run and retreating from record highs scaled the previous day.
Catch all the highlights on Dalal Street, market commentary and analysis, the views of Zee Business Managing Editor Anil Singhvi and other experts, stock recommendations, and much more on Zeebiz.com's blog:
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Closing Bell | Sensex ends 132 pts lower, Nifty slides to 20,901 as market retreats from all-time highs
Both headline indices finish the day 0.2 per cent lower, halting a seven-day-long winning streak. The Sensex sheds 132 points for the day to end at 69,521.7 and the Nifty50 slides to 20,901.2, down 36.6 points from its previous close.
Nifty50
Share Market Today LIVE | L&T, Maruti Suzuki, other stocks hit 52-week highs
As many as seven stocks in the S&P BSE Sensex basket reached the milestone.
Stock CMP 52 Weeks High Previous 52 Weeks High(Price/Date) All Time High(Price/Date) BAJAJFINSV 1,703.85 1,724.30 1,714.00 (04 Dec 2023) 19,319.95 (19 Oct 2021) LT 3,350.70 3,409.15 3,400.00 (06 Dec 2023) 4,670.00 (01 Nov 2007) MARUTI 10,700.00 10,930.00 10,846.10 (27 Oct 2023) 10,930.00 (07 Dec 2023) NESTLEIND 24,920.00 25,164.50 25,103.80 (06 Dec 2023) 25,164.50 (07 Dec 2023) POWERGRID 230.55 232.35 226.25 (06 Dec 2023) 266.85 (31 Jul 2023) TATAMOTORS 721 727.45 724.50 (06 Dec 2023) 1,381.40 (06 Dec 2010) TITAN 3,585.65 3,595.00 3,572.00 (06 Dec 2023) 4,765.00 (14 Jun 2011) Share Market Today LIVE | Nifty trades sluggish; Bharti Airtel, L&T, ITC among top drags of the basket
Source: NSE
Levying border adjustment tax to meet green commitments morally wrong says FM Nirmala Sitharaman
Finance Minister Nirmala Sitharaman says that any move on imposition of cross-border adjustment tax by developed countries to meet their green commitments is morally wrong and goes against the interest of developing countries of 'Global South'. Read more
Share Market Today LIVE | Nifty Bank trades flat
Source: NSE
Share Market Today LIVE | PSU stock bets after assembly elections lift LIC to new 52-week high
Riding the election results, which are proving to be optimistic for PSU stocks in general, state-owned LIC has leaped by over 17 per cent in three days, considering the close on December 1. In trade on December 7, the stock marks a new 52-week high of Rs 788, a gain of 5.63 per cent over the previous close. The gains in the leading insurer are seen even as the headline indices trade under pressure after a one week-long winning run. Read more
Share Market Today LIVE | We have to keep on putting forward concerns of Global South: Finance Minister
"For the next few years, we have to keep on putting forward concerns of Global South," says Finance Minister Nirmala Sitharaman.
Each country has set its agenda for 20-25 years, says Sitharaman, speaking at industry body Confederation of Indian Industry's flagship event, the CII Global Economic Policy Forum.
The event, which has the theme of 'Strategizing Global Prosperity: Amidst Polycrisis', is organised in the national capital from December 7 to December 8.
Deliberations at the event will focus on six key tracks:
- Economic Growth
- Global Cooperation
- Digital Transformation
- Climate Action
- Inspirations from India
- Gender Parity
Share Market Today LIVE | Finance Minister Nirmala Sitharaman says transitional energy challenge very big, says Finance Minister Nirmala Sitharaman
In a keynote address at the CII Global Economic Policy Forum event in New Delhi, Finance Minister Nirmala Sitharaman says that the challenge of transitional energy is "very big".
"We have to increase participation in renewable energy... A lot of achievements in solar and renewable energy because it is inclusive... India’s digital achievements stand out as an example because of inclusion without corruption," says the finance minister.
India’s fintech revolution has shown it is possible to have inclusion and better governance, Sitharaman adds.
Image: youtube.com/@FollowCII
Share Market Today LIVE | Nifty Auto, Nifty PSU Bank top gainers most among NSE's sectoral indices; Nifty FMCG top laggard
Here's how the various sectors fare on NSE at this hour:
Index Current Change (pts) Change (%) NIFTY FMCG 54,282.95 -379.60 -0.69 NIFTY MEDIA 2,360.05 -12.65 -0.53 NIFTY METAL 7,404.35 -21.00 -0.28 NIFTY PRIVATE BANK 24,295.55 -10.15 -0.04 NIFTY IT 33,033.50 10.90 0.03 NIFTY BANK 46,854.10 19.55 0.04 NIFTY FINANCIAL SERVICES 21,051.15 24.40 0.12 NIFTY REALTY 733.1 0.90 0.12 NIFTY CONSUMER DURABLES 30,091.20 86.25 0.29 NIFTY HEALTHCARE INDEX 10,306.00 40.15 0.39 NIFTY OIL & GAS 9,081.20 38.15 0.42 NIFTY PHARMA 16,244.00 74.45 0.46 NIFTY PSU BANK 5,475.50 33.80 0.62 NIFTY AUTO 17,918.45 130.05 0.73 The high-beta Nifty Bank remains volatile, up 19.6 points at the 46,854 level, having see-sawed around the flatline today so far.
Share Market Today LIVE | Buy Siemens shares, says Astha Jain
Astha Jain of HEM Securities suggests buying Siemens shares at Rs 3,800 for targets of Rs 4,050 and Rs 4,120 with a stop loss at Rs 3,550.
The tech stock has risen 5.1 per cent in five days while the Nifty50 has grown 3.4 per cent.
Image: BSEIndia.com
Share Market Today LIVE | Large banks to offer the highest alpha, Nifty end-of-2024 target at 23,200
Motilal Oswal Financial Services Ltd (MOFSL) expects large banks to offer alpha returns given the rising GDP trajectory, driven by the capex cycle, may not be possible without a re-leveraging cycle. Nifty is trading at a 12-month forward price-to-earnings ratio of 18.4x, a nine per cent discount from its long-period average (LPA), according to the brokerage.
In general, financial services can benefit, according to Motilal Oswal Financial Services, which is underweight defensives citing high valuations and a slow growth outlook environment.
Read more on how MOFSL views the largecap banking space at this juncture
Share Market Today LIVE | Broader indices Nifty Midcap 100, Nifty Smallcap 100 rise up to 0.5%
The Nifty 500—the broadest index on stock exchange NSE— is holding on to the green with a gain of half a per cent at this hour, having gyrated within a tight range around the flatline in intraday trade so far.
Index Current Change (pts) Change (%) NIFTY 50 20,928.90 -8.80 -0.04 NIFTY 500 18,713.50 33.50 0.18 NIFTY MIDCAP 100 44,395.35 162.90 0.37 NIFTY SMALLCAP 100 14,578.55 70.65 0.49 Share Market Today LIVE | Market breadth extremely positive, favours the bulls even as Nifty50 retreats over 100 pts from all-time high
Overall market breadth remains in favour of the bulls in a big way, with an advance-decline ratio of 3:2 on BSE where as many as 2,091 stocks are enjoying gains against 1,374 struggling below the flatline at this hour.
Image: BSEIndia.com
Share Market Today LIVE | Here's how Hitachi Energy shares have fared in the recent past
The stock has rewarded investors with a return to the tune of almost 22 per cent in six months, sharply outperforming a gain of 11.7 per cent in the headline Nifty50 index.
Image: BSEIndia.com
Share Market Today LIVE | Sumeet Bagadia positive on IRB Infra shares
Sumeet Bagadia of Choice Broking recommends buying Infrastructure Developers IRB (IRB) shares for targets of Rs 40 and Rs 42 with a stop loss at Rs 36.5.
His target implies an upside of 12.8 per cent in the stock from its previous close.
Share Market Today LIVE | Buy Hitachi Energy India (POWERINDIA) shares, says Dharmesh Kant
Dharmesh Kant of Cholamandalam Securities suggests buying Hitachi Energy India (POWERINDIA) shares from a perspective of 9-12 months.
He has placed his target for the stock at Rs 5,700 per share.
Share Market Today LIVE | BEL shares hit 52-week high on healthy order book; here's what Morgan Stanley suggests
Bharat Electronics shares gain by as much as 3.6 per cent to clock a 52-week high of Rs 161.8 apiece, surpassing an earlier peak of Rs 157.5 on NSE. BEL informed the exchanges in its regulatory filing on December 7 about the bagged orders. The filing read, "The company has also received additional orders worth Rs 3,335 crore since the last disclosure on September 15, 2023, and the said orders pertain to artificial magnetic conductors (AMC) for the AEW&C system (Airborne Early Warning & Control), uncooled TI sights, software-defined radios, SWIR payload, AMC for IACCS, passive night vision binoculars, etc. Read more
Share Market Today LIVE | Paytm hits 20% lower circuit as firm decides to cut down on small-ticket loans; brokerages slash target prices
Shares of One97 Communications, the parent firm of the fintech company Paytm, hit 20 per cent lower circuit at Rs 650.65 on BSE. The sharp cut in stock is triggered after the payments company decided to increase the disbursal of high-value loans.
The initiative has been taken after the RBI's guidelines on unsecured loans, wherein it has increased the risk weights for consumer loans, thereby making credit offtake expensive for both lenders and consumers.
On the move, all major global brokerages have downgraded the stock and substantially reduced the target price. In a press release released after market hours on Wednesday, the company said, given the strong portfolio performance and widespread acceptance of loan distribution, adds newer forms of loan offerings. Read more
Share Market Today LIVE | Nifty slips below 20,900, Sensex trades over 200 pts lower
Nifty 50
Nifty slips below 20,900, down 0.29 per cent in opening deals.
Source: NSESensex
Sensex trades over 200 points lower in opening deals.
Source: BSE
Currency Update | Rupee falls 4 paise to 83.36 against US dollar in early trade
Anil Singhvi Market Strategy | Important levels to track in Nifty50, Nifty Bank today
Zee Business Managing Editor Anil Singhvi sees strong support for the headline Nifty50 index emerging at 20,800-20,850 levels and a
strong buy zone at 20,675-20,725 levels on Thursday, December 7. For the Nifty Bank, he expects strong support at 46,450-46,650 levels and a strong buy zone at 46,225-46,375 levels.Read more on how Anil Singhvi views the Indian share market today and what he recommends
Stocks to Watch | TCS, Delta Corp, PVR INOX, Paytm, BEL, other stocks
Here are some stocks that will be in focus on Thursday, December 7:
Delta Corp:
Deltatech Gaming Limited, a subsidiary of Delta Corp got interim relief in the Goods and Services Tax (GST) demand case. The company received a GST notice of Rs 6236.1 crore for January 2018 to November 2022, and a GST notice of Rs 6236.1 crore for July 2017 to October 2022.
PVR INOX:
The company launched another 4-screen multiplex at Keshar Towers at Race Course Road, Gwalior. With this launch, PVR INOX now operates the largest multiplex network with 1,709 screens across 358 properties in 113 cities (India and Sri Lanka).
One 97 Communications (Paytm):
India's leading payments and financial services distribution company Paytm has announced the expansion of its loan distribution business with an enhanced focus on higher-ticket loans for consumers and merchants.
TCS/ GNFC:
The buyback offer for Tata Consumer Services and Gujarat Narmada Valley Fertilizers & Chemicals will close on December 7. Read more
Share Market Today LIVE | GIFT Nifty futures indicate sluggish start ahead on Dalal Street
GIFT Nifty futures — an early indicator of the Nifty 50 index — are down 8.05 points or 0.04 per cent at 21,032.5 at the last count ahead of the opening bell on Dalal Street.
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