MARKET WRAP: Bull run continues; Sensex gains 506 pts, Nifty ends at 13,109

Topics Markets | Markets F&O | India GDP

Photo: Kamlesh Pednekar
The domestic equity market ended over 1 per cent higher on Tuesday, led by healthy buying in financial, information technology (IT), and pharma counters. 

The S&P BSE Sensex rallied 506 points, or 1.15 per cent to settle at 44,655 levels while NSE's Nifty ended above 13,100 level at 13,109, up 140 points, or 1.08 per cent. India VIX slipped 0.23 per cent to 19.7 levels.

Infosys, ICICI Bank, HDFC, and Reliance Industries (RIL) were the major contributors to the Sensex's gain while HDFC Bank, and Bajaj Finance were among the top drags. Sun Pharma (up 5.5 per cent) was the top gainer on Sensex. 

Broader market, too, rallied in the trade. The S&P BSE MidCap index gained 0.94 per cent to 17,073 levels while the S&P BSE SmallCap index ended at 17,013, up 0.82 per cent. 

Among sectoral indices on the NSE, Nifty Realty gained the most - up 3.3 per cent to 269.90 levels while Nifty PSU Bank index surged 2.88 per cent to 1,603 points. Nifty FMCG was the only index that ended in the red - down 0.04 per cent. 


Global markets

World shares edged up to just below record peaks on Tuesday after robust China data boosted expectations of a recovery from the Covid-19 downturn and as drugmakers seek fast approval for their vaccines and authorities look set to keep stimulus support. 

In Asia, Japan’s Nikkei rose 1.3 per cent while Australia’s S&P/ASX 200 gained 1.1 per cent after Australia’s central bank said the country’s economy would need fiscal and monetary support “for some time."

In commodities, oil prices ticked up with early European trading erasing earlier losses, as all eyes were on talks between OPEC and its allies who postponed a formal meeting to decide whether to increase output from next month. 

(With inputs from Reuters)

3:43 PM IST

3:42 PM IST

3:36 PM IST The S&P BSE Sensex ended at 44,655.44 levels, up 506 points, or 1.15 per cent while NSE's Nifty ended at 13,109, up 140 points, or 1.08 per cent. 

3:26 PM IST

3:16 PM IST

3:07 PM IST At present, PIERER Mobility AG (PMAG) and Bajaj Auto's 100 per cent Netherlands subsidiary, Bajaj Auto International Holdings BV, hold 51.7 per cent and 48 per cent respectively in KTM AG. Pierer Industrie AG holds over 60 per cent in PMAG, with the balance being free float. READ MORE    

2:56 PM IST >> TVS Motor Company sales grew by 21% registering 322,709 units in November 2020 as against 266,582 units in the month of November 2019 >> Two wheeler: Total two-wheelers sales grew by 25% recording 311,519 units in November 2020 as against 249,350 units in November 2019 >> Three-wheeler: Three-wheeler of the Company registered sales of 11,190 units in November 2020 as against 17,232 units in November 2019. >> Exports: The Company's total exports registered 74,074 units in the month of November 2020 as against 74,060 units in November 2019.

2:54 PM IST In the past three days, the stock zoomed 33 per cent after Hitachi ABB Power Grids in India, listed on the stock exchanges as ‘ABB Power Products and Systems India Ltd.’, has signed a Memorandum of Understanding (MoU) with Ashok Leyland and the Indian Institute of Technology Madras (IITM) for an e-mobility pilot. The triumvirate will run an electric bus (e-bus) pilot for in-campus commuting by IITM’s students and staff. READ MORE 

2:54 PM IST

2:45 PM IST

2:37 PM IST >>  Penicillamine Tablets are indicated in the treatment of Wilson’s disease, Cystinuria, and in patients with severe, active rheumatoid arthritis who have failed to respond to an adequate trial of conventional therapy

2:30 PM IST

LIVE UPDATES

Nifty Realty climbs 3.3%


MARKET AT CLOSE | Gainers and losers on the S&P BSE Sensex


CLOSING BELL

The S&P BSE Sensex ended at 44,655.44 levels, up 506 points, or 1.15 per cent while NSE's Nifty ended at 13,109, up 140 points, or 1.08 per cent. 

MARKET CHECK


BSE Midcap index up nearly 1%


Bajaj Auto, Pierer Industrie AG start preliminary talks on stake transfer

At present, PIERER Mobility AG (PMAG) and Bajaj Auto's 100 per cent Netherlands subsidiary, Bajaj Auto International Holdings BV, hold 51.7 per cent and 48 per cent respectively in KTM AG. Pierer Industrie AG holds over 60 per cent in PMAG, with the balance being free float. READ MORE  

 

November Auto Sales :: TVS Motor Company sales in November 2020 grow by 21%

>> TVS Motor Company sales grew by 21% registering 322,709 units in November 2020 as against 266,582 units in the month of November 2019

>> Two wheeler: Total two-wheelers sales grew by 25% recording 311,519 units in November 2020 as against 249,350 units in November 2019

>> Three-wheeler: Three-wheeler of the Company registered sales of 11,190 units in November 2020 as against 17,232 units in November 2019.

>> Exports: The Company's total exports registered 74,074 units in the month of November 2020 as against 74,060 units in November 2019.

ABB Power zooms 33% in 3 days on tie-up with Ashok Leyland for e-bus pilot

In the past three days, the stock zoomed 33 per cent after Hitachi ABB Power Grids in India, listed on the stock exchanges as ‘ABB Power Products and Systems India Ltd.’, has signed a Memorandum of Understanding (MoU) with Ashok Leyland and the Indian Institute of Technology Madras (IITM) for an e-mobility pilot. The triumvirate will run an electric bus (e-bus) pilot for in-campus commuting by IITM’s students and staff. READ MORE 


BUZZING STOCK :: Strides Pharma hits 52-week high


Sun Pharma surges over 5.5%


NEWS ALERT :: Lupin gets US FDA nod for Penicillamine Tablets

>>  Penicillamine Tablets are indicated in the treatment of Wilson’s disease, Cystinuria, and in patients with severe, active rheumatoid arthritis who have failed to respond to an adequate trial of conventional therapy

BSE indices at this hour


Titan, Escorts: What next for stocks where Jhunjhunwala cut stake in Q2

Escorts Ltd (ESCORTS): On the daily chart, a clear support of 100-day moving average can be seen from May 2020 onwards.
This suggests that the positive bias will prevail till the said moving average is not breached. The 100-DMA is currently placed at Rs 1,214 levels. On an immediate scale, a breakout above Rs 1,300 suggests a positive upside towards Rs 1,500 levels. This move has a closing basis support of Rs 1,275 levels. READ MORE 


NEWS ALERT :: GST collection at Rs 1.05 trillion in Nov

Sensex up 546 pts


Commercial real estate in NCR may report growth in Oct-Dec on better demand

The commercial real estate sector of the National Capital Region (NCR) is likely report growth in the current quarter (October-December) on the back of improved demand, said a report by 360 Realtors. READ MORE

Stocks that hit 52-week high on BSE today

COMPANY PRICE(rs) 52 WK HIGH CHG(%)
ABB POWER PRODUC 1250.00 1250.00 9.09
ACC 1740.55 1788.05 2.19
ADANI ENTERP. 419.10 419.65 5.10
ADANI GAS 362.20 371.70 4.08
ADANI PORTS 423.60 424.55 2.82
» More on 52 Week High

MARKET CHECK


YES Bank trades at its highest level since August 31; zooms 26% in 1 month

Shares of YES Bank were locked in the 5 per cent upper circuit band at Rs 15.38, its highest level since August 31, 2020, on the BSE on Tuesday. Till 01:15 pm, a nearly 400 million shares had changed hands on the BSE and NSE, and buy orders for 22 million shares were pending on the exchanges, data show. In the past one month, YES Bank has outperformed the market by gaining 26 per cent, following the news of bank's inclusion in the MSCI India Index with effect from December 1. In comparison, the S&P BSE Sensex has rallied 12 per cent during the period. READ MORE

November Auto Sales :: Eicher Motors' total domestic sales up around 4% YoY


Top gainers on BSE at this hour

COMPANY PRICE(rs) CHG(%)
MAHINDRA LIFE. 324.90 12.34
CARE RATINGS 564.05 12.05
CARBORUNDUM UNI. 381.10 10.29
LEMON TREE HOTEL 36.50 9.61
VAKRANGEE 41.70 8.59
» More on Top Gainers

MARKET UPDATE:: India VIX up 4%


Covid vaccine wont be released unless proven safe, assures Serum Institute

Addressing the concerns related to the adverse reaction reported by the volunteer in Chennai, SII said, "The Covishield vaccine is safe and immunogenic. The incident with the Chennai volunteer though highly unfortunate was in no way induced by the vaccine and Serum Institute of India is sympathetic with the volunteer's medical condition." READ MORE

Bitcoin over gold :: Can the largest digital currency rival bullion one day?

Whether that’s a simple coincidence or the start of a rotation that would have a profound impact on crypto and the precious-metals market is impossible to know for sure. But the debate is now heating up on whether the world’s largest digital currency can one day rival bullion as an inflation hedge and portfolio diversifier. READ MORE

Indian cement firms strong 1H FY20 profitability limits Covid risks: Fitch

The strong margins in the first half of the financial year (H1FY21) limit the risks to Indian cement companies' financial profiles, despite lower volumes due to the Coronavirus (Covid-19) pandemic, says Fitch Ratings. The companies are expected to take a prudent approach to grow capital expenditure in FY21 (ending March 2021), which will underpin healthy free cash generation and support financial flexibility. READ MORE

MARKET CHECK


MARKET UPDATE:: Nifty PSU Bank index up 2%


November Auto Sales :: M&M

>> M&M's total sales for the month of November 2020 stood at 42,731 vehicles, compared to 41,235 in November 2019, a growth of 4%

>> In the Utility Vehicles segment, Mahindra sold 17,971 vehicles in November 2020, compared to 14,161 vehicles in November 2019, registering a growth of 27%. The Passenger Vehicles segment (which includes UVs, Cars and Vans) sold 18,212 vehicles in November 2020, a growth of 24% over same period last year.

>> Farm Equipment sales are as follows:


Sun Pharma rallies 6%, inches towards 52-week high on heavy volumes

Shares of Sun Pharmaceutical Industries rallied 6 per cent to Rs 540 on the BSE on Tuesday on the back of heavy volumes. Till 12:05 pm, a combined 13.6 million equity shares had changed ands on the counter on the NSE and BSE. In comparison, the S&P BSE Sensex was up 0.85 per cent at 44,526 points. The stock of the pharmaceutical company was trading at its highest level since August 31, 2020. It was near its 52-week high level of Rs 564.90, touched on August 28, 2020. READ MORE

Burger King India IPO opens for subscription tomorrow; Should you invest?

Quick service restaurant (QSR) Burger King India will open its three-day initial public offering (IPO) on December 2. The company aims to raise Rs 810 crore via the IPO. The issue comprises a fresh issue of shares worth Rs 450 crore, and an offer for sale (OFS) of up to 60 million shares by promoter entity QSR Asia Pte Ltd worth Rs 360 crore, at the upper end of the price band. The company intends to utilise the fresh proceeds to finance the roll-out of new company-owned Burger King Restaurants and to meet the general corporate purposes. READ MORE

NEWS ALERT :: PNC Infra gets LoA from Andhra Pradesh govt for project worth Rs 1,000 cr


NEWS ALERT :: SC rejects plea against Chanda Kochhar's termination by ICICI Bank

>> SC observes that Bank terminated Kochhar only after she resigned

>> SC says RBI gave approval as per its wisdom

>> SC says it's not inclined to interfere with the order of termination.

>> It falls within the realm of contractual relationship between ICICI Bank, Chanda Kochhar

(Source: CNBC TV18)

Deepak Fertilisers, GSFC, GNFC: What charts indicate for fertiliser stocks

Deepak Fertilisers & Petrochemicals Corp. Ltd (DEEPAKFERT): The bigger picture on the daily chart shows weakness on higher levels at Rs 160, Rs 170, and Rs 185. That said, till the stock defends the support of Rs 135 levels, the upside bias may see a positive momentum. The Relative Strength Index (RSI) is attempting to cross the resistance of Rs 54 value. This suggests strength which may increase going ahead. READ MORE 


Tech Mahindra hits new high on healthy growth outlook, 5G opportunities

The management believes there is a large multi-billion dollar opportunity in 5G network services (christened Network Services 3.0), and expects the segment to grow at a faster pace than the overall Communications vertical. READ MORE

BUZZING STOCK :: Kirloskar Ferrous jumps 10%


Paint companies better-placed to tackle higher crude prices, say experts

Shares of paint companies, after correcting as much as 5 per cent from their all-time highs on worries of rising crude oil prices, are again trading firm. Analysts say, while higher oil prices would have an impact on operating profits, companies are better-placed to handle it. Last week, oil prices hit their highest level since March on hopes of a faster global economic recovery following positive news flow on coronavirus vaccine. READ MORE

NEWS ALERT :: CreditAccess Grameen to consider issuing NCDs of Rs 3,000 cr on December 4

>> Issue will be to various prospective investors on a Private Placement basis in one or more tranches/issues.


Tata Steel Long Products soars 10% as Tata Steel completes open market sale

Shares of Tata Steel Long Products were locked in the upper circuit limit of 10 per cent at Rs 526.55 on the BSE on Tuesday, thus surging 14 per cent in the past four trading days after Tata Steel, the promoter company, completed its open market sale of equity shares of the company, as a step towards achieving minimum public shareholding. The stock had hit a 52-week high of Rs 533.50 on November 17, 2020. READ MORE 


November Auto Sales :: Ashok Leyland's total sales increase 5% YoY


Rupee at day's high


ALERT :: Sensex gains momentum


Cement shares extend rally; Shree Cement, JK Cement hit new lifetime highs

Among individual stocks, Shree Cement, JK Cement and Ramco Cement hit their respective life-time highs, while ACC, Dalmia Bharat and Grasim Industries touched their respective 52-week highs on the BSE. Most of these stocks were trading higher in the range of 2 per cent to 6 per cent as compared to a 0.45-per cent rise in the S&P BSE Sensex at 10:07 am. READ MORE

November Auto Sales :: Maruti Suzuki's total domestic passenger sales dip 1.7% YoY


Q&A | It is a good time to look at non-US, global equity investing: Nimesh Shah, ICICI Prudential AMC

The recent rally is driven by an assortment of positive news coming together. That said, markets may look overvalued on the surface given the excess liquidity that is leading to a price rally in growth stocks. During 1992 – 1994, 2003 – 2008 and 2014-2017, a similar trend had played out. The divergence between growth and value, taken on a calendar year-till-date (CYTD) performance spread basis is the largest ever and exceeds that seen in the run-up to 2000 dotcom bubble. This makes value as a theme relatively attractive to growth. Moreover, the US dollar may depreciate further due to ample liquidity. We believe that value as a theme is better placed than growth. READ MORE 

Nimesh Shah-ICICI Prudential AMC

NEWS ALERT :: Manufacturing PMI slips to 56.3 in November vs 58.9 in October

>> Posting 56.3 in November, the seasonally adjusted IHS Markit India Manufacturing Purchasing Managers’ Index® (PMI®) highlighted a strong improvement in business conditions. However, the headline number was down from 58.9 in October to a three-month low. All three broad areas of the manufacturing industry recorded expansion, with growth led by consumer goods which was the only sector to see a stronger rate of increase.

Burger King's IPO could yield reasonable returns

If the current financial year is excluded, growth has not been a problem for the Indian quick service restaurant (QSR) business. At 19 per cent annual growth over FY15-20, QSRs far outstrip most other formats in the organised food service market. READ MORE

SECTOR WATCH:: Realty stocks in focus

COMPANY NAME LATEST HIGH LOW CHG(%)
NBCC 27.10 27.40 25.85 4.03
UNITECH 1.44 1.46 1.38 2.13
INDBULL.REALEST. 69.50 70.95 65.10 7.42
DLF 194.50 197.40 189.60 3.96
Click here for the full list

Rupee Opening

Rupee opens stronger at 73.96 per US dollar vs Friday's close of 74.05/$

Granules India surges 6% on Carlyle group acquisition buzz

Shares of Granules India surged 6 per cent and hit a new high of Rs 438 on the BSE on Tuesday as media reports suggested that private equity firm Carlyle group is in advanced stages to acquire the pharmaceutical firm for around $1 billion. Carlyle is expected to buy 42 per cent of promoter shares, which will trigger an open offer to acquire additional stake from others, CNBC TV18 reported. READ MORE

BROKERAGE VIEW | Edelweiss Securities on Tech Mahindra

RATING: BUY | TARGET PRICE: Rs 1,243
 
In our view, while Tech Mahindra suffers from a blip in 5G spends, it merely postpones double-digit growth for the company; the enterprise side of business continues to accelerate though. That said, we continue to believe TECHM’s growth will be lower than its competitors for a year, but forecast that its EPS growth would be highest, which would lead to its re-rating in the near term. Thereafter, growth, in all probability, should pick up too. Maintain ‘BUY/SN’ with an unchanged TP of Rs 1,253 (25x FY22E EPS).

Peak margin norms :: Broker default risk should decline now

The Securities and Exchange Board of India’s (Sebi’s) mandated peak margin reporting norms have come into force from Tuesday. While the new norms are expected to make the environment safer, intraday traders will need to adapt their strategies. READ MORE

Volumes in F&O segment to shrink as peak margin rules kick in today

The maximum intra-day leverage that can be offered by a broker will now be restricted and will keep reducing until September 1, 2021. After this, a broker can provide maximum leverage that is equal to SPAN+exposure for the F&O segment and VaR+ELM (minimum 20 per cent) for the cash segment. READ MORE

NEWS ALERT :: Bajaj Auto to swap its 48% holding in KTM for a stake in Pierer Mobility AG

>> Currently, Bajaj Auto & Pierer Mobility AG hold 48% & 51.7% in KTM AG & Pierer Ind holds over 60% in Pierer Mobility AG

>> Pierer Ind & Bajaj to move their holdings in PMAG to a new holdco.

>> Bajaj Auto says discussions are currently at a very preliminary stage & it will evaluate & decide on the proposal in due course.

Nifty Auto index trades in the red


Indiabulls Housing Finance up around 1%

>> Indiabulls Housing Finance has further sold a portion of its stake in OakNorth Holdings (the wholly owning parent company of OakNorth Bank plc) (OakNorth) for approximately Rs 93 crore.


Dr Reddy's Labs trades in the green

>> Dr Reddy's Laboratories on Saturday said it has inked a pact with Glenmark Pharmaceuticals to acquire its select anti-allergy brands in Russia, Ukraine, Kazakhstan and Uzbekistan.


ICICI Lombard hits 52-week high

>> Insurance Regulatory and Development Authority of India (Irdai) on Friday gave in-principle approval for the merger of Bharti AXA General with ICICI Lombard.


HCC advances over 5%

>> Hindustan Construction Company (HCC), in a joint venture with Vensar Constructions Company (VCCL), has been awarded Rs 236 crore orders in two separate contracts from the Northeast Frontier Railway.


Bajaj Auto up 1%


Escorts slips on profit booking post November sales update


Sectoral trends at Open


Sensex Heatmap at Open


Opening Bell


Opening Bell


November Auto Sales :: Bajaj Auto total sales up 5% YoY


November Auto Sales :: Escorts reports increase in total sales by 33% YoY

>> Escorts Ltd Agri Machinery Segment (EAM) in November 2020 sold 10,165 tractors, their highest ever November sales and registering a growth of 33 per cent against 7,642 tractors sold in November 2019.


Commodity Heatmap


Top gainers and losers on the S&P BSE Sensex at Pre-open


Markets at Pre-open


Markets at Pre-open


Stocks to watch

Dr Reddy's Laboratories on Saturday said it has inked a pact with Glenmark Pharmaceuticals to acquire its select anti-allergy brands in Russia, Ukraine, Kazakhstan and Uzbekistan.
 
Indian Hotels: Indian Hotels Company (IHCL) said on Monday it had signed a three-hotel deal with Ambuja Neotia Group as it seeks to make deeper inroads into eastern India. The new projects in eastern India include two in Kolkata and one in Patna. The Ambuja Neotia Group has outlined an investment of Rs 800 crore for the project.
 
Indiabulls Housing Finance has further sold a portion of its stake in OakNorth Holdings (the wholly owning parent company of OakNorth Bank plc) (OakNorth) for approximately Rs 93 crore. READ MORE  

 

BROKERAGE VIEW :: Geojit Financials on Avanti Feeds

TP: Rs 610 | Reco: Buy

>> Avanti Feeds Ltd (AFL), is a leading manufacturer of Shrimp Feeds with a capacity of 6,00,000 MT, and Shrimp Processor & Exporter with a capacity of 22,000 MT. AFL has a tie-up with Thai Union Group, Thailand.

>> We revise upward our Target to Rs.610 (from Rs565) and maintain Buy rating due to healthy performance amid challenges.

>> Q2FY21 revenue grew by 6%YoY (+18% QoQ) aided by gradual stability in operations post lock-down. Export realisation improved 15%YoY on better region mix.

>> EBITDA grew by 19% YoY, supported by improvement in EBITDA margin (by 150bps YoY to 13.6%) due to reduction in RM & overhead costs.

>> Industry shrimp production is expected to drop by ~15%-20% in FY21 due to Covid-19 led disruptions but to improve in FY22.

>> Relaxation in restrictions, improvement in export prices, regional diversification and increasing market share will support future volumes.

>> Changes in MEIS (export incentive scheme) will affect the incentive receipts and likely to impact margins in the short-term.

>> Revenue/PAT to grow at 9%/11% CAGR over FY20-22E. We value AFL at FY22E P/E of 19x considering healthy growth & RoE and no debt.

BROKERAGE VIEW :: Geojit Financials on Glenmark Pharma

Target Price: Rs 548 | Reco: Buy

>> Glenmark Pharma Ltd (GNP) is an India-based pharmaceutical company with commercial presence in more than 80 countries across the globe. GNP is primarily focused on generics, specialty and OTC businesses. The company has strong regional/country-specific presence in diabetes, cardiovascular and oral contraceptives.

>> Revenues were recorded at Rs. 2,952cr (+4.9% YoY) in Q2FY21, driven by robust growth in India and API segment, partially offset by de-growth in US and Latin America segment.

>> EBITDA came in at Rs. 553cr with a margin of 19.0% (+270bps) and Adj. PAT fell 9.7% to Rs. 231cr on account of high taxes.

>> Market share for the Cardiac, Anti diabetic, Respiratory segments rose to 4.7%/1.9%/5.2% in Q2FY21 vs. 4.6%/1.7%/4.9% in Q2FY20.

>> As we witness robust growth across regions/segments, improving cash flows, controlled debts and several cost efficiency measures, we retain our rating to BUY on the stock with a revised target price of Rs. 548 based on 16x FY22E EPS.

BROKERAGE VIEW :: Emkay Global on Ashok Leyland

>> We expect strong volume/revenue/EBITDA CAGRs of 14%/19%/37% over FY20-23E. We also expect an average annual FCF of about Rs10bn for the next three years, leading to an improvement in net debt/equity to 0.1x in FY23E from 0.3x in FY20.

>> We reaffirm Buy with a revised TP of Rs124 - a 35% upside from CMP. The key catalysts for stock performance: robust volume-led EBITDA growth, strong FCF generation through controlled capex and investments, and a reduction in debt. In our view, in a bull-case scenario, ALL could even offer a potential upside of 80%.

BROKERAGE VIEW :: MOFSL on Tech Mahindra

CMP: Rs 876 | TP: Rs 940 (+7%) | Reco: Neutral

>> We expect a recovery in the Communications vertical (40% of revenue) to precede any re-rating in the stock multiple and hence retain our Neutral rating. We see the need to invest back into the business as the key limitation to its aim of margin improvement.

>> TECHM should deliver single-digit growth in FY22 (v/s double-digit growth by its peers), which would lead to a lower P/E multiple. We value the stock at 20x FY22E EPS, at a 25% discount to our target P/E for TCS. Remain Neutral.

BROKERAGE VIEW :: Edelweiss Securities on Siemens

TP: Rs 1,748 | Reco: Buy

>> Reflecting a broader trend of rising automation and a cost-structure rejig, Siemens (SIEM) surprised Street with an all-round outperformance in Q4FY20. The medium-term outlook for sectors (shared by management), focus for the next year and emerging trends in exports as well as domestic markets are encouraging.

>> Double-digit growth in services and execution of high-margin backlog helped the energy segment post a stronger comeback. Visible short cycle traction reflecting in recent order growth is heartening, and we believe optimising cost structures, efficiency-led industrial spend and potential infra normalisation augur well for SIEM.

>> As SIEM looks inward to continually re-align its products with structural changes across manufacturing/infra, potential for OPM scale-up remains high. Despite its
recent rally, we are revising the TP to INR1,748 (from INR1,370), based on higher earnings (up 4/11% for FY21E/22E) and multiple (up to 50x from 42x) building in potential for better growth/returns scale-up over the next three–five years. 

12790 - 12730 a sacrosanct support zone for Nifty: Angel Broking

Although the overall trend has been strongly up, we still believe that one should avoid aggressive bets, and rather focus on individual stocks with proper risk management. The ideal range for coming sessions would be 13,150 - 12,730 and till the time we do not breakout outside this range, we are likely to see trades on both sides, especially in indices. Above 13,150, next levels to watch out for would be 13,250 - 13,400 and the move will not be as swift as it has been in the recent past. The real action continues in the broader markets as we can see stellar moves in lot of mid and small counters. READ MORE

Stock recommendations by Vaishali Parekh

BUY HERO MOTOCO | CMP: Rs 3,108 | Target: Rs 3,300-3,350 | Stop Loss: Rs 2,950
 
The stock has recently witnessed a decent correction and has bottomed near 2,950 levels indicating a pick-up in momentum and trend reversal. The RSI indicator has also indicated a reversal from the oversold zone to signal a buy to make the chart look attractive. We suggest to buy and accumulate this stock for an upside target of Rs 3,300-3,350, keeping the stop loss of Rs 2,950. READ MORE

Nifty outlook & trading strategies by CapitalVia

Buy Dr. Lal Path Labs Ltd. (above Rs 2,305):
 
Target: Rs 2,410
 
Stop loss: Rs 2,228
 
The stock is witnessing a resistance breakout from its immediate resistance level placed at 2,305. Moreover, it has bounced from its important 9-DEMA, Further, buying momentum would be witnessed if the stock moves above 2,305. Dr Lal Path Labs is trading above its important moving averages. We recommend buying the stock above 2,305 for the target of Rs 2,410, keeping a stop loss at Rs 2,228 on closing basis. READ MORE

Bulk deals on BSE as on Friday

Bulk deals on NSE as on Friday

FII/FPI & DII trading activity on NSE, BSE and MSEI


Rupee on Friday

Source: Bloomberg


Rupee on Friday

Source: Bloomberg


Oil prices slide after OPEC+ talks delays escalate supply concerns

Opening trading for December Brent crude was down 20 cents, or 0.4% at $47.68 a barrel by 0136 GMT, after dropping more than 1% on Monday. West Texas Intermediate was down by 27 cents, or 0.6% at $45.07 a barrel, having dropped 0.4% in the previous session. READ MORE

SGX Nifty update

>> At 8:20 am, the index was at 12,987 levels

Asian markets check

Source: Reuters


Wall Street check :: S&P 500 ends down after rallying to best November ever

Source: Reuters


Good morning, readers!

Welcome to the Business Standard live blog.

Catch all the live market updates here.

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel