RIL, IT stocks help Sensex settle 195 pts higher; Nifty ends above 12,900

Topics Markets | Sensex | Nifty

Volatility index, India VIX, gained over 6 per cent to 20.8 levels.
The benchmark indices ended around 0.5 per cent higher on Monday amid buying in Reliance Industries (RIL), and information technology counters such as Infosys, and Tata Consultancy Services (TCS). 

The S&P BSE Sensex gained 195 points, or 0.44 per cent to settle at 44,077 levels while NSE's Nifty ended above 12,900 level at 12,926, up 67 points, or 0.52 per cent. During the day, the index hit a record high of 12,969 levels. 

Volatility index, India VIX, gained over 6 per cent to 20.8 levels. 

The broader market outperformed the headline indices. The S&P BSE MidCap index gained 1.25 per cent to 16,642 levels while the S&P BSE SmallCap index settled at 16,405, up 1.37 per cent. 

Among sectoral indices, Nifty IT gained the most - up nearly 3 per cent to 22,007 levels. Nifty Bank, on the other hand, slipped 0.72 per cent to 29,024 levels while Nifty Financial Service index fell over 1 per cent to 14,059 levels.  

Global markets 

Shares and oil prices rose on Monday while the dollar fell as investors pinned hopes for economic revival on coronavirus vaccines, even as the world contended with surging case numbers and delays to fresh US stimulus.

The STOXX index of Europe’s 600 largest shares rose 0.5 per cent to its highest since February after AstraZeneca become the latest major drugmaker to say its vaccine for the virus could be around 90 per cent effective.

In commodities, oil prices rose more than 1 per cent, extending last week’s gains as traders eyed a recovery in demand due to successful coronavirus vaccine trials. 

(With inputs from Reuters)

3:43 PM IST

3:42 PM IST

3:36 PM IST The S&P BSE Sensex rallied 195 points, or 0.44 per cent higher to 44,077 levels while NSE's Nifty ended at 12,926, up 67 points, or 0.52 per cent.

3:29 PM IST

3:22 PM IST Shares of Infosys moved higher by 4 per cent to Rs 1,144 on the BSE in intra-day trade on Monday amid a report that the company has emerged as the front runner for a multi-year, $1.3 billion deal from Daimler. The deal involves transferring of 500-600 Daimler employees to the information technology (IT) firm and is focused on infrastructure management services, networks, and data centres, The Times of India reported. READ MORE 

3:07 PM IST COMPANY PRICE(rs) CHG(%) EQUITAS HOLDINGS 63.40 19.96 I D F C 40.10 19.88 UJJIVAN SMALL 40.40 19.88 UJJIVAN FIN.SER. 292.80 17.68 J & K BANK 23.91 16.52 » More on Top Gainers

3:01 PM IST Top Indian conglomerates led by Tata, Birla, Piramal, and Bajaj will seek a banking licence provided the norms for conversion of non-banking finance companies (NBFCs) are made easier and comprehensive regulation does not apply to rest of the group firms, sources said. READ MORE

2:55 PM IST

2:55 PM IST Boring #investing can be painful.We buy unfancied stocks.They further lose fancy.Then things hit a bottom.Interest slowly returns.#ValueInvesting attracts.Buying interest grows.Prices gradually recover.Sudden surge in interest happens.#Momentum builds up.Patience pays.— Shyam Sekhar (@shyamsek) &7

2:46 PM IST Apollo Tyres is planning for a capex of around Rs 2,600 crore for the current and the next fiscal. The company said demand continues to be positive abetween nd with its factories running at between 85% and 90% utilisation, it was bullish about the third and fourth quarters. READ MORE

2:42 PM IST Shares of auto ancillary companies were in focus on Monday with MRF, Balkrishna Industries, Amara Raja Batteries and Jamna Auto hitting their respective 52-week highs on the expectation of strong revenue growth. The July-September quarter (Q2FY21) was marked by a sharp rebound for the auto sector from the washout Q1FY21 performance. Demand outstripped supply for major players as production, distribution levels climbed to successively higher levels throughout. Dispatches picked up sharply in September in the run-up to the festive period. READ MORE

LIVE UPDATES

MARKET AT CLOSE | Nifty IT gains nearly 3%


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


CLOSING BELL

The S&P BSE Sensex rallied 195 points, or 0.44 per cent higher to 44,077 levels while NSE's Nifty ended at 12,926, up 67 points, or 0.52 per cent.

MARKET CHECK


Infosys gains 4%, nears record high amid report Co may win Daimler deal

Shares of Infosys moved higher by 4 per cent to Rs 1,144 on the BSE in intra-day trade on Monday amid a report that the company has emerged as the front runner for a multi-year, $1.3 billion deal from Daimler. The deal involves transferring of 500-600 Daimler employees to the information technology (IT) firm and is focused on infrastructure management services, networks, and data centres, The Times of India reported. READ MORE 


Top gainers on BSE at this hour

COMPANY PRICE(rs) CHG(%)
EQUITAS HOLDINGS 63.40 19.96
I D F C 40.10 19.88
UJJIVAN SMALL 40.40 19.88
UJJIVAN FIN.SER. 292.80 17.68
J & K BANK 23.91 16.52
» More on Top Gainers

Tata, Birla, Bajaj, and Piramal Group may lead race for bank licence

Top Indian conglomerates led by Tata, Birla, Piramal, and Bajaj will seek a banking licence provided the norms for conversion of non-banking finance companies (NBFCs) are made easier and comprehensive regulation does not apply to rest of the group firms, sources said. READ MORE

BUZZING STOCK:: ONGC surges 8%


Investing tips by Shyam Sekhar

Apollo Tyres lines up capital expenditure of Rs 2,600 cr for FY21, FY22

Apollo Tyres is planning for a capex of around Rs 2,600 crore for the current and the next fiscal. The company said demand continues to be positive abetween nd with its factories running at between 85% and 90% utilisation, it was bullish about the third and fourth quarters. READ MORE

Auto ancillary stocks rally; Amara Raja, MRF, Balkrishna Ind hit 52-wk high

Shares of auto ancillary companies were in focus on Monday with MRF, Balkrishna Industries, Amara Raja Batteries and Jamna Auto hitting their respective 52-week highs on the expectation of strong revenue growth. The July-September quarter (Q2FY21) was marked by a sharp rebound for the auto sector from the washout Q1FY21 performance. Demand outstripped supply for major players as production, distribution levels climbed to successively higher levels throughout. Dispatches picked up sharply in September in the run-up to the festive period. READ MORE

Strides Pharma Science gets USFDA nod for generic Prednisone tablets


Proposed corporate ownership of Indian banks poses high risks, says S&P

“We are, however, skeptical of allowing corporate ownership in banks given India's weak corporate governance record amid large corporate defaults over the past few years”, S&P said in statement.
 
Moreover, RBI will face challenges in supervising non-financial sector entities and supervisory resources could be further strained at a time when the health of India's financial sector is weak. READ MORE

S&P BSE SmallCap index up over 1%


Explained :: What justified the delisting of Lakshmi Vilas Bank's shares

Ever since investors were made aware of the Reserve Bank of India’s (RBI’s) stand to delist the shares of beleaguered Lakshmi Vilas Bank, it has invoked negative response from all sections. While the angst of the investors is understandable, one needs understand the possible logic in a move of this nature. Sample this, from -0.88 per cent tier-1 capital as on March 31, 2020, its plunged to -4.85 per cent by September 30,2020. READ MORE

GLOBAL MARKETS CHECK:: Asian indices hold gains


Tata Steel, JSW Steel: Metal stocks poised for further upside, charts show

NIFTY METAL: After successfully conquering the 100-weekly moving average (WMA) at 2,500 mark, the index is set to move towards 200-WMA, which comes at 2,969 levels, as per the weekly chart. This move has a support of 2,600 on the downside. The trend is highly positive with the Relative Strength Index (RSI) witnessing buying momentum in an overbought condition, as per the daily chart. READ MORE 


Motherson Sumi nears 52-week high after it unveils 5-yr restructuring plan

Shares of Motherson Sumi Systems (MSSL) advanced 5 per cent to Rs 146.30 on the BSE in the intra-day trade on Monday after the company outlined its next five year plan, Vision 2025. The stock of the auto ancillary company was trading close to its 52-week high level of Rs 151 touched on January 9, 2020. At the analyst meet held recently, Motherson Sumi Systems said that it is targeting $36 billion in group revenues by FY25E, including 25 per cent contribution from non-automotive space. READ MORE

MARKET CHECK


Credit risks rising for infrastructure projects in India, says S&P

The hit to the Indian infrastructure sector from Covid-19 pandemic will continue to be felt in 2021 even as the economy revives following the lifting of the country-wide lockdown, according to rating agency Standard & Poor’s. Credit risks are rising because of increasing debt levels and a weakening of counter parties. Rrefinancing remains difficult for speculative grade-rated issuers, the rating agency said in its presentation "India's Infrastructure Recovery Won't Be Quick". READ MORE

Sebi mulls lower dilution, 5 years for achieving 25% float for large IPOs

The country’s markets regulator on Friday proposed changes to the rules governing initial public offerings (IPO) to encourage issuances by large companies. Under the new framework, big firms may be able to list with just 5 per cent dilution and get more time to achieve the 25 per cent minimum public shareholding requirements. READ MORE

Cement stocks gain in a volatile market

COMPANY LATEST(rs) CHG(%)
INDIA CEMENTS 149.95 1.59
AMBUJA CEMENTS 259.70 0.97
ACC 1754.00 3.94
STAR CEMENT 89.05 3.97
HEIDELBERG CEM. 201.65 2.02
» More

Oil prices extend gains on coronavirus vaccine hopes, OPEC+ output check

Oil prices extended gains on Monday as traders eyed a recovery in crude demand thanks to successful coronavirus vaccine trials, although prices were contained by renewed lockdowns in several countries. Sentiment was also bolstered by hopes that the Organization of the Petroleum Exporting Countries (OPEC), Russia and other producers, a group known as OPEC+, will keep crude output in check. READ MORE

Market Voice :: Shyam Sekhar on price discovery of stocks

Small towns account for 16% of MF asset base

B30 (beyond top 30 cities) accounted for 16 per cent of the total industry Average Assets Under Management (AAUM) in October this year, and the balance was contributed by T30 cities, or the top 30 locations in India, the Association of Mutual Fund Industry (Amfi) said. READ MORE

NEWS ALERT :: AstraZeneca/Oxford say Covid vaccine shows 70% efficacy, reports AFP

>> AstraZeneca says one-dosing regimen showed #vaccine efficacy of 90% when it was given as a half dose, followed by a full dose at least 1 month apart & another dosing regimen showed 62% efficacy when given as two full doses at least one month apart.

>> To seek Emergency Use Authorisation from WHO soon

Nifty Energy Index rises 2%


Stocks that hit 52-week high on BSE today in an otherwise volatile market

COMPANY PRICE(rs) 52 WK HIGH CHG(%)
ACC 1740.00 1749.40 3.11
ADANI GAS 346.50 366.15 0.35
ADANI GREEN 1157.70 1177.40 1.95
AFFLE INDIA 3305.75 3305.75 5.00
AMARA RAJA BATT. 869.15 878.15 1.15
» More on 52 Week High

MARKET UPDATE:: Broader indices outperform benchmarks; India VIX rises 5%


NEWS ALERT :: Favipiravir as treatment for COVID-19 demonstrates significant improvement in time to clinical cure, says Glenmark Pharma

>> The oral antiviral medication Favipiravir, that prevents the replication phase of the virus life-cycle, leads to significant improvement in clinical cure in patients with mild to moderate Covid-19.

>> These findings were observed in a randomized, controlled Phase 3 clinical study conducted by Glenmark Pharmaceuticals, and the results are now published online in The International Journal of Infectious Diseases (IJID).

>> The Phase 3 study with antiviral drug Favipiravir, brand name FabiFl, was conducted in 150 patients as part of a randomised, open label, multicenter, Phase 3 study. Favipiravir was found to provide multiple treatment benefits, demonstrated by faster time to clinical cure, and significantly delayed the need for supportive oxygen therapy.


Future group shares, RIL gain after CCI nod for Reliance Retail deal

On August 29, Reliance Industries (RIL) and Future Enterprises (FEL) announced the deal wherein Reliance Retail will acquire the retail & wholesale, logistics & warehousing business from Future group. Future is seeking to get out of its debt trap with the deal, while Reliance is looking to consolidate its position as the country's largest organised retailer with the transaction. The two players have said that they will go ahead with the regulatory process despite Amazon's objections. READ MORE 

 

MARKET CHECK


Discount model the new mantra for broking firms to gain market share

The quest to gain market share and acquire more customers is pushing full-service brokers to slash brokerage and adopt a discount broking model. Kotak Securities (KSL), a full-service broker, on Thursday announced the launch of its Trade-Free Plan, with zero brokerage on intraday trades and Rs 20 per order for all other futures and options (F&O) trades across equity, commodity, and currency segments. READ MORE

NEWS ALERT :: Mindtree signs 5-yr deal with Nordex Group

>> To align the Nordex Group’s IT infrastructure with its strategic vision across the complete value chain, Mindtree will support the full stack transformation of its current IT operations and service delivery.


Global fund managers expect emerging markets to outperform in 2021

Global asset managers believe the emerging markets (EMs) will be the best asset class in 2021, followed by the US markets and oil. Among the three, oil has been the worst-performer this year, slumping nearly 35 per cent. READ MORE

Equitas, Ujjivan: How to trade financial stks on RBI's ownership guidelines

Ujjivan Financial Services Limited (UJJIVAN): With a sharp up move on November 23, the stock is heading towards the next resistance 200-WMA located at Rs 306 levels. If the stock manages to conquer Rs 306, then the upside bias may see a rally towards Rs 340 and Rs 350 levels. The support stays at Rs 275 levels, which is its 100-WMA. The trend looks promising as MACD is crossing the zero line upwards, as per the weekly chart. READ MORE

Pharma shares in focus; Divi's Labs hits new high, Gland Pharma zooms 20%

Dishman Carbogen Amcis, Ipca Laboratories, Sun Pharma Advanced Research Company (SPARC), Caplin Point Laboratories, Dr. Lal PathLabs and Granules India from the S&P BSE Healthcare index were up in the range of 4 per cent to 5 per cent on the BSE. Meanwhile, the S&P BSE Healthcare index, the top gainer among sectoral indices, was up 1.7 per cent as compared to 0.17 per cent decline in the S&P BSE Sensex at 10:47 am. READ MORE

Nifty Bank index falls 500 points from day's high


Top losers on BSE at this hour

COMPANY PRICE(rs) CHG(%)
LEMON TREE HOTEL 31.15 -5.75
SPICEJET 69.55 -4.40
JAGRAN PRAKASHAN 39.55 -3.54
HATHWAY CABLE 30.55 -3.48
KALPATARU POWER 297.45 -3.30
» More on Top Losers

NEWS ALERT :: Praj Ind signs non-binding MoU with Ministry of Petroleum & Natural Gas

>>  The objective is to facilitate technological support to the entities for setting-up and commissioning of multiple number of eligible and qualified CBG Plants and their continuous operation for production of CBG and Organic Compost Manure under Sustainable Alternative Towards Affordable Transportation (SATAT).


Lakshmi Vilas Bank hits record low; stock tanks 48% in four days

Shares of Lakshmi Vilas Bank (LVB) were locked in lower circuit for the fourth straight day after slipping another 10 per cent on Monday to hit a new low of Rs 8.10 on the BSE. The private sector lender's stock was trading below its face value of Rs 10 per share. It has tanked 48 per cent in the past four trading days after the government, last week, placed the lender under a one-month moratorium and superseded its board. READ MORE

Q&A | Market valuations have become demanding: IIFL Securities MD R Venkataraman

The Nifty has rallied around 70 per cent from its March 2020 lows. While the recovery was fairly broad-based, the market performance could narrow. Select sectors and companies that have a visibly healthy growth momentum could outperform even if valuations are slightly demanding. READ FULL INTERVIEW HERE
R Venkataraman, Managing director, IIFL Securities

Nifty Pharma index in focus, up 2%


Ujjivan Small Fin, IDFC First: Financials rally on RBI's ownership proposal

Shares of financials including, banks, non-banking finance companies (NBFCs) and microfinance institutions (MFIs) were in focus amid up to 20 per cent rally on the BSE in the early morning trade on Monday as the Reserve Bank of India's (RBI's) internal working group, which reviewed ownership guidelines, proposed sweeping changes in the corporate structure of Indian private sector banks. READ MORE

Rupee opening

Rupee opens higher at 74.13/$ vs Friday's close of 74.16 against the US dollar

BROKERAGE VIEW | ICICI Securities on Dalmia Bharat Sugar

RATING: BUY | TARGET PRICE: Rs 180

With significant reduction of sugar inventory through export & sacrifice towards B-heavy ethanol, DBSL would be able to generate cash from operations to the tune of Rs 607 crore and Rs 444 crore in FY21E & FY22E, respectively. We expect debt reduction of | 790 crore by FY22E. With new addition in distillery capacities, the visibility of revenues and earnings growth has extended for next five years. We revise our target price to Rs 180 (from earlier target price of Rs160) and maintain our BUY recommendation.

MARKET UPDATE:: Sensex pares gains, slips into red


BROKERAGE VIEW | Prabhudas Lilladher on Motherson Sumi

RATING: BUY | TARGET PRICE: Rs 165 

In our view, their target of USD36bn revenue by 2025 (v/s ~USD9bn in FY20) is aggressive and it will be pre-loaded by acquisitions both in auto and non-auto segment. It has hinted on several mid/large scale opportunities available in auto/non-auto space globally. While we remain constructive on MSS ability in automotive segment, growth in unchartered non-auto verticals (backed by wiring harness) is already seen. We maintain BUY with revised TP of Rs 165 (vs Rs 147) at 20x Mar-23 consol EPS (v/s Sep-22), with unchanged earnings. Inorganic opportunities and growth in non-auto space remain key rating catalyst going forward.

BROKERAGE VIEW | Centrum Broking on JK Cement

RATING: ADD | TARGET PRICE: Rs 1,855 

Given the strong 1HFY21 performance we have revised our FY21e/22e earnings to Rs71.7/84.7 (earlier Rs49.9/Rs70.3). We have also assigned a higher EV/EBITDA multiple of 11.5x (earlier 10x) sighting better earnings quality helping balance sheet improvement, capacity expansion in stronger markets and white segment guarding earnings. We revise our rating to ADD from Reduce earlier with a target price of Rs 1,855 (earlier 1,310/sh) At our TP the stock trades at a replacement cost of Rs11.6bn/mn tonnes FY22e capacities.

BROKERAGE VIEW | Nirmal Bang Securities on Embassy Office Parks REIT

RATING: ACCUMULATE | TARGET PRICE: Rs 362
 
As per disclosures made by the company, Embassy Office Parks REIT (EOPR) has approved acquisition of Embassy Tech Village (ETV) for a total enterprise value of Rs 97,824 mn (subject to adjustments in relation to net debt, working capital and other adjustments as agreed among the parties). In our view, the acquisition cost is based on the current market to market rentals, which is near/at the peak of the real estate cycle. Real estate is a cyclical sector and trough to peak period ranges from 5-10 years. The current cyclical upswing started in ~CY12, clearly indicating that the cycle is at it’s peak/near peak. Further, we remain concerned about the current softness in the office market. A meager discount of 4.5% to the pricing of the valuers indicates that there is virtually no moat if the current softness gets extended into a cyclical downswing in the sector.

Therefore, in our view, the ETV acquisition is overpriced and leaves absolutely no safety margin in case of a cyclical downswing in the real estate sector. 
 
 

BROKERAGE VIEW | ICICI Securities on Banking and Financial Services

The RBI had constituted an internal working group on June 12 to review extant ownership guidelines and corporate structure of Indian private sector banks. Terms of reference included review of the eligibility criteria for individuals/entities to apply for banking license; examination of preferred corporate structure for banks and, review of norms for long-term shareholding in banks by promoters and other shareholders. These steps are in right direction and beneficial for the sector in the long-term but we believe these measures have played out in the recent price rally.

Most active stocks by volume

COMPANY PRICE(rs) CHG(%)
VODAFONE IDEA 10.18 1.39
J & K BANK 22.16 7.99
EQUITAS HOLDINGS 63.40 19.96
CONTAINER CORPN. 411.10 0.28
UJJIVAN SMALL 37.75 12.02
» More on Most Active Volume

Tinplate zooms 7%


HDFC slips into red


IIFL Securities trade in the red

>> The Board of IIFL Securities at its meeting held on 20 November 2020 has approved buyback of company's shares at a price not exceeding Rs 54 per share for an aggregate cash consideration of Rs 90 crore.


Mishra Dhatu Nigam slips 1.7%

>>  According to reports, the government is planning to sell up to 10 per cent stake in defence PSU Mishra Dhatu Nigam Ltd (MIDHANI) in the current fiscal ending March.


CG Power gains 5%

>> Lenders to CG Power and Industrial Solutions have agreed to a one-time loan restructuring to pave way for the Chennai-based Murugappa Group taking over the scam-hit equipment maker. CG Power had total debt of Rs 2,161 crore, out of which a consortium of 14 banks have taken a haircut of Rs 1,100 crore and restructured the remaining.


Pfizer up 1%

>> Britain could give regulatory approval to Pfizer-BioNTech's COVID-19 vaccine this week, even before the United States authorises it, the Telegraph news site reported on Sunday.


Vodafone Idea trades higher


Umang Dairy leaps over 9%


Bharti Airtel slips in trade


HDFC Bank up 1%


Reliance Industries up over 2% after CCI approves deal with Future Grp


Ujjivan Small Finance Bank soars 13% post RBUI's ownership widening rules


Sectoral trends at Open


Sensex Heatmap at Open


NIFTY AT OPEN


SENSEX OPENS AT RECORD HIGH


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


Markets at Pre-open


Markets at Pre-open


Top stocks to watch

Banks, NBFCs are expected to remain in focus today as the Reserve Bank of India’s internal working group (IWG) reviewing corporate structure of private sector banks has suggested sweeping changes in bank ownership in its report released on Friday, including allowing large corporate and industrial houses to own banks by amending the Banking Regulation Act, 1949. 
 
Telecom stocks: Telecom tariff hike is needed as the current rates are "unsustainable" and market conditions will be seen before a call is taken, telecom czar and chairman of Bharti Airtel Sunil Mittal has said.
 
Bharti Airtel on Friday said it will acquire 5.2 per cent stake in solar power company Avaada MHBuldhana for Rs 4.55 crore in an all-cash deal. It is a subsidiary of Avaada Energy Private Limited (AEPL). READ MORE  


BROKERAGE VIEW :: MOFSL on V-Mart

CMP: Rs 2,018 | TP: Rs 2,350 (+16%) | Reco: Buy

>> Apparel retailers are seeing improved demand MoM, but demand remains far below pre-COVID levels. VMART is strongly positioned to compete with regional
and national players in the Value Retail segment given its better performance v/s national peers, strong liquidity, and leverage position.

>> We factor in higher FY22E revenue/EBITDA by 11%/10% from FY20 levels to reach INR18b/INR2.3b in FY22E, with 15/60 store additions in FY21E/FY22E. Tailwinds from VMART’s resilient position in a weak competitive environment should help it gain local market share.

>> We assign a 20x FY22E EV/EBITDA multiple (27% discount to three-year average multiple) to arrive at TP of INR2,350/share (16% upside). VMART currently
trades at FY22E EV/EBITDA of 17x. We continue to maintain our Buy rating given the huge growth opportunity in the space, its superior balance sheet, and its astute inventory / working capital management.

BROKERAGE VIEW :: MOFSL on Motherson Sumi

CMP: Rs 140 | TP: Rs 160 (+15%) | Reco: Buy

>> Stabilization of SMP’s greenfield plant is critical in driving earnings recovery for MSS, which we estimate to reflect from 2HFY21. Execution of a strong order book and limited capex at SMPBV and the India business augurs well for MSS. Also, the company will benefit from content increase in BS6 as well a good PV recovery.

>> Vision 2025 along with the ongoing restructuring of the group will shape the next phase of growth for the company. We believe MSS is the best proxy to a global automotive recovery, which is supplemented by company-specific earnings drivers.

>> The stock trades at 23.6x FY22E and 18.5x FY23E consolidated EPS. We maintain Buy with a TP of ~INR160 (Mar’23E SoTP based).

Dow Jones Futures climb nearly 100 pts


Nifty outlook by Sameet Chavan of Angel Broking

In our intra-week commentary, we had mentioned how the banking index is showing some signs of being overbought and very much on expected lines, we witnessed nearly 1,200 points correction in the last couple of days. Fortunately, due to the late surge in banking conglomerates, Bank Nifty closed very much in safer territory above 29,200. But, the real action continued in the broader markets and hence, we can still focus on the same. Traders are advised not to trade aggressively now and should continue with a stock centric approach. READ MORE

Two stock recommendations by Vaishali Parekh of Prabhudas Lilladher

BUY SBI CARDS | CMP: Rs 806.90 | Target: Rs 900 | Stop Loss: Rs 740
 
The stock has taken support near 770 levels to make a double bottom formation pattern in the daily chart and has picked up momentum to improve the bias. We anticipate a fresh upward move in the coming days as the RSI indicator is well placed, indicating strength with the chart looking good. We suggest to buy and accumulate this stock for an upside target of Rs 900, keeping the stop loss of Rs 740. 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 check

Source: Bloomberg


Oil prices extend gains on Covid-19 vaccine hopes

>> Oil prices extended their gains on Monday as traders were optimistic about a recovery in crude demand thanks to successful coronavirus vaccine trials, but price gains were contained by renewed lockdowns in several countries.
 
>> Sentiment was also bolstered by hopes that the Organization of the Petroleum Exporting Countries (OPEC), Russia and other producers, a group known as OPEC+, will keep crude output in check.
 
>> Brent crude futures rose 17 cents, or 0.4%, to $45.13 a barrel, while US West Texas Intermediate crude gained 4 cents, or 0.1%, to $42.46 a barrel. Both benchmarks had increased by 5% last week.
 
(Source: Reuters)

SGX Nifty update

>> At 8:23 am, the index was at 12,957 levels, up 75 points

Asian shares rise on hopes for rapid vaccine rollout

Alert: Japanese markets closed for holiday

Source: Reuters


Wall Street on Friday

Source: Reuters


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