Sensex tanks 997 pts from day's high, breaches 44K; Nifty ends at 12,858

Topics Markets | stock market | SGX Nifty

Volatility index, India VIX, jumped 10 per cent to 23.1 levels.
After scaling fresh record highs in the morning trade, the domestic equity market tumbled around 1.5 per cent on Wednesday as investors booked profit across-the-board. Volatility index, India VIX, jumped 10 per cent to 23.1 levels. 

Among headline indices, the S&P BSE Sensex ended 695 points, or 1.56 per cent lower at 43,828 levels while NSE's Nifty ended at 12,858, down 197 points, or 1.51 per cent. In the early trade, Sensex hit a high of 44,825.37 while Nifty scaled the peak of 13,146 levels. 

Investors lost over Rs 2.2 trillion in today's trade as the market capitalisation of BSE-listed companies slipped to Rs 172.5 trillion against Rs 174.8 trillion on Tuesday. 

Out of 30 constituents of Sensex, 27 declined and just 3 advanced. ONGC ended as the top gainer - up over 6 per cent.

In the broader market, the S&P BSE MidCap declined 1.76 per cent to 16,444 levels while the S&P BSE SmallCap index fell over 1 per cent to 16,363 points. 

On the NSE, barring Nifty PSU Bank index, all other sectoral indices ended in the red. Nifty PSU Bank index gained nearly 2 per cent to 1,509.85 levels. 

 
Global markets

World shares rallied to a record peak on Wednesday following an overnight surge that saw the Dow Jones benchmark crack 30,000 for the first time as investors cheered a dramatically improved global outlook. 

In Asia, Japan’s Nikkei rallied 0.5% to a 29-year high while MSCI’s index of Asia-Pacific shares outside Japan gave up early gains to trade down 0.2% as Chinese shares were capped by worries about rising debt defaults.

In commodities, oil rose for the fourth straight session on Wednesday as the market shrugged off an industry report showing US crude stockpiles rose more than expected, extending a rally driven by hopes that a Covid-19 vaccine will boost fuel demand.

(With inputs from Reuters)

4:12 PM IST Markets drifted lower and lost over one and a half per cent, taking a breather after the recent surge. Participants were in the profit-taking mood from the beginning, citing overbought markets and a cautious approach ahead of derivatives expiry. Consequently, the Nifty index ended near day’s low at 12,858 levels, down by 1.5 per cent. In line with the benchmark, the broader indices, too, witnessed a decline wherein midcap lost 1.8 per cent and smallcap ended with a cut of 1.1 per cent. Among the sectoral indices, banks, auto, and healthcare were the top losers.   It’s normal to see an intermediate dip in a trend and we may see further profit-taking ahead. Besides, volatility is also likely to remain high due to scheduled derivatives expiry. Nifty has the next crucial support at 12,700. Considering the scenario, we suggest limiting naked leveraged trades and preferring hedged positions.   

3:43 PM IST

3:42 PM IST

3:36 PM IST The S&P BSE Sensex slipped 695 points, or 1.56 per cent to settle at 43,828 levels while NSE's Nifty ended at 12,858, down 197 points, or 1.51 per cent.

3:29 PM IST

3:22 PM IST

3:12 PM IST

2:55 PM IST Shares of Tanla Platforms were up 5 per cent at Rs 556, bouncing back 11 per cent from the day's low on the BSE on Wednesday, on the back of heavy volumes. The stock of the cloud communication service provider got locked in the lower circuit of 5 per cent to Rs 503 in intra-day trade today. In the past one month, the stock has zoomed 98 per cent, as compared to an 8-per cent rise in the S&P BSE Sensex. READ MORE

2:48 PM IST There was a strong demand for Maruti and Tata Motors. Even Hyundai is performing well, and has been able to solve the vendor issues. The worst hit due to vendor issues is M&M (both on the autos side as well as Tractors side). Foreign players like Honda, Renault, Skoda, Ford, VW, MG etc also were among the worst hit. READ MORE

2:40 PM IST

2:30 PM IST

LIVE UPDATES

MARKET COMMENT | Ajit Mishra, VP - Research, Religare Broking

Markets drifted lower and lost over one and a half per cent, taking a breather after the recent surge. Participants were in the profit-taking mood from the beginning, citing overbought markets and a cautious approach ahead of derivatives expiry. Consequently, the Nifty index ended near day’s low at 12,858 levels, down by 1.5 per cent. In line with the benchmark, the broader indices, too, witnessed a decline wherein midcap lost 1.8 per cent and smallcap ended with a cut of 1.1 per cent. Among the sectoral indices, banks, auto, and healthcare were the top losers.
 
It’s normal to see an intermediate dip in a trend and we may see further profit-taking ahead. Besides, volatility is also likely to remain high due to scheduled derivatives expiry. Nifty has the next crucial support at 12,700. Considering the scenario, we suggest limiting naked leveraged trades and preferring hedged positions. 
 

Nifty PSU Bank index bucks the trend, ends nearly 2% higher


MARKET AT CLOSE | Losers and gainers on the S&P BSE Sensex


CLOSING BELL

The S&P BSE Sensex slipped 695 points, or 1.56 per cent to settle at 43,828 levels while NSE's Nifty ended at 12,858, down 197 points, or 1.51 per cent.

MARKET CHECK


MARKET CHECK | Sensex slips over 1.5%


BSE Midcap index slips 1.7%


Tanla Platforms rebounds 11% from day's low; stock zooms 98% in one month

Shares of Tanla Platforms were up 5 per cent at Rs 556, bouncing back 11 per cent from the day's low on the BSE on Wednesday, on the back of heavy volumes. The stock of the cloud communication service provider got locked in the lower circuit of 5 per cent to Rs 503 in intra-day trade today. In the past one month, the stock has zoomed 98 per cent, as compared to an 8-per cent rise in the S&P BSE Sensex. READ MORE

Passenger cars brightest spot in auto industry on high festive demand

There was a strong demand for Maruti and Tata Motors. Even Hyundai is performing well, and has been able to solve the vendor issues. The worst hit due to vendor issues is M&M (both on the autos side as well as Tractors side). Foreign players like Honda, Renault, Skoda, Ford, VW, MG etc also were among the worst hit. READ MORE

Top losers on the BSE at this hour


Contribution to the S&P BSE Sensex's fall today


ONGC, Aban Offshore: Oil exploration stocks may rally further, charts show

Shares of oil exploration and production companies gained ground on Wednesday owing to a rise in crude oil prices. Oil prices gained for the fourth day on Wednesday, extending a rally driven by hopes that a Covid-19 vaccine will boost fuel demand. On Tuesday, oil prices rose about 4 per cent to touch the highest level since March. READ MORE

Nifty Bank index falls over 900 pts from day's high


MARKET UPDATE:: Sensex falls 500 points, gives up 44k


European indices trade higher in early deals


Shriram Transport Finance hits 8-month high; stock soars 56% in November

Shares of Shriram Transport Finance hit an eight-month high of Rs 1,079, up 4 per cent on the BSE on Wednesday on expectation of further improvement in collection. The stock was trading at its highest level since March 6, 2020. In comparison, the S&P BSE Sensex was down 0.33 per cent at 44,376 points, at 01:33 pm. READ MORE

More policy space can be created only when inflation eases, says MPC member

The Reserve Bank of India has cut interest rates by “a great deal” and more policy space can be created only when inflation eases, its executive director and rate-panel member Mridul Saggar said. Inflation is being driven by supply-side problems and is likely to stay elevated for a while, he said at the Emerging Markets Central Banking Summit organized virtually by the Washington-based Institute of International Finance. Although food prices -- which contribute significantly to India’s inflation basket -- are expected to correct significantly by December, he said it isn’t easy to bring prices down under pandemic conditions. READ MORE

Sequoia-run Surge, Info Edge invest $6 mn into SaaS-based startup Shipsy

Founded in June 2015 by IITians Soham Chokshi, Dhruv Agarwal, Himanshu Gupta and Sahil Arora, Shipsy brings together all the stakeholders of the international logistics ecosystem on a single platform. The approach is to create a SaaS workflow management platform that allows network participants to collaborate and work together, reducing process bottlenecks, enhancing efficiency and bringing transparency. The Gurugram-headquartered firm has raised about Rs 10 crore till date, and has customers across Dubai, Saudi Arabia, North Africa, Singapore and Malaysia among others. READ MORE

MARKET CHECK :: Sensex off lows


BROKERAGE VIEW | Angel Broking on Metropolis Healthcare

Metropolis Healthcare is a leading pathology centre in India. The company has an asset-light model with a strong balance sheet. New guidelines issued by Maharashtra Government for travellers entering the state from Delhi, Rajasthan, Gujarat and Goa will have to compulsorily undergo RT PCR test is positive for the business of the company.  Due to Covid-19, the company is doing better business than in the non-Covid environment as testing such as RT PCR and antibody is leading to increased revenue and profitability for the company. The non-covid business portfolio is close to normalcy and is in improving trend MoM. We continue to have a buy rating on the company by revising the target price upwards to Rs 2,593 by valuing it at 36x EV/EBIDTA FY22E.

Emami gains 3%, hits 52-week high in an otherwise subdued market

In the past one week, Emami has outperformed the market by gaining 9 per cent after the company announced its forays into home hygiene space with ‘EMASOL’. With this launch, the Company, which so far enjoyed a leading presence in the personal care and healthcare space, makes a big bang entry into the homecare segment for the very first time. The benchmark index was remained flat during the same period. READ MORE

Heatmap: S&P BSE Sensex gainers and losers at this hour


Steady volume gains a positive sign for Adani Ports and SEZ stock

The Adani Ports and SEZ stock is trading close to its 52-week high and has gained about 9 per cent since the beginning of the month. Half the gains came on Tuesday after the company was recently ranked 14th in the transportation and transportation infrastructure sector by the Dow Jones Sustainability Emerging Markets Index 2020. READ MORE

BROKERAGE VIEW | Centrum Broking on IT Services

Tier I IT Services vendors delivered strong revenue performance 2QFY21 with constant currency revenue growth of 2-4.8% QoQ. Most vendors showed a steady bounce back in 2QFY21 compared to 1Q which was a low base quarter owing to Covid led weakness. Cloud migration, Touchless interface and accelerated Digital Transformation led spends from select B2C vertical clients led to strong bounce back in growth. Margin performance continued to remain strong with Work from Home led cost savings aiding margin trajectory. While Work from Home efficiencies, lower travel costs are driving margins in medium term, we believe that it will be passed on to clients through pricing reduction in long term.  We continue to maintain our relative preference for HCL Tech, Infosys and Wipro among Tier 1 IT vendors. Coforge and Persistent remain preferred midcap picks. Mastek remains our small cap pick.

Fall from intra-day high today

COMPANY DAY'S HIGH(RS) DAY'S LOW(RS) LATEST(RS) FALL(%)
SUNTECK REALTY 375.60 323.30 334.50 -10.94
J & K BANK 25.50 23.00 23.20 -9.02
BLISS GVS PHARMA 181.10 163.25 166.45 -8.09
T.V. TODAY NETW. 219.00 201.90 201.90 -7.81
Click here for the full list

Two-wheeler exports to decline by 18-21% in FY21, says India Ratings

Ratings agency India Ratings and Research (Ind-Ra) said it expects the two-wheeler (2W) exports decline for FY21 to be in line with that of the domestic industry at 18-21 per cent. It added that since two-wheeler exports only accounted for 16-18 per cent of the total two-wheeler sales for Indian OEMs, this was not likely to be substantial enough to compensate for the domestic volumes during the same period. Two-wheeler export volumes are likely to increase by mid-teens in FY22, the ratings agency said. READ MORE

NEWS ALERT :: HDFC to buy 19.95% stake in Renaissance Investment Solutions ARC for Rs 49,87,500


Top losers on BSE at this hour

COMPANY PRICE(rs) CHG(%)
J & K BANK 23.31 -8.77
GRAPHITE INDIA 243.40 -6.40
ZENSAR TECH. 218.50 -5.82
P I INDUSTRIES 2228.65 -5.54
IPCA LABS. 2092.25 -5.47
» More on Top Losers

Covid-19 vaccination: How TCI and other logistic stocks look on charts

Most logistics companies such as VRL Logistics, Transport Corporation of India (TCI) were trading in the negative territory in the morning deals on Wednesday as compared to a 0.6 per cent decline in the benchmark S&P BSE Sensex. Shares of logistics companies are expected to remain in focus ahead as India needs ample cold chain and distribution infrastructure for its Covid-19 vaccination programme. READ MORE 


Exploration stocks surge as oil prices rally on vaccine hope; ONGC up 4%

Among the other individual stocks, Alphageo (India) rallied 18 per cent to Rs 244 while Aban Offshore was locked in the upper circuit of 10 per cent at Rs 27.65 on the BSE. Jindal Drilling & Industries, Hindustan Oil Exploration and Selan Exploration Technology were up in the range of 5 per cent to 8 per cent READ MORE

Safe bet: Investors should look for less volatile medium-term gilt funds

Motilal Oswal Asset Management Company has launched the 5-year G-Sec Exchange Traded Fund (ETF). At a time when gilt funds with 10-year constant duration are showing a one-year category average return of 12.4 per cent, this new fund offer is sure to garner investor interest. All gilt funds are attracting investor interest now for two reasons. READ MORE

HDFC Bank m-cap tops Rs 8-trillion; CLSA sees further upside in stock price

In a note dated November 24, analysts at CLSA raised their target price on the stock to Rs 1,700 from an earlier target of Rs 1,525 per share and maintained their ‘positive’ stance on the stock as it believes the lender deserves a premium versus peers, given its higher profitability and stronger underwriting quality. READ MORE

FPIs smash records in Nov: Highest net inflows in a calendar month ever

The floodgates have truly opened in November, as foreign portfolio investors (FPI) have poured in over $7.4 billion, or Rs 54,573 crore, into stocks this month — the highest-ever for a month both in local currency and US dollar terms. And, they may not be done just yet with four more trading sessions to go. READ MORE

UTI AMC gains 3%, trades above issue price for the first time since listing

Shares of UTI Assets Management Company (AMC) were trading higher for the third straight day, up 3 per cent at a fresh record high of Rs 560.95 on the BSE on Wednesday. The stock is trading above its issue price of Rs 554 for the first time since listing on October 12, 2020. UTI AMC is the second-largest asset management company in India in terms of total assets under management or AUM (Rs 10.4 trillion) and the 8th largest asset management company in India in terms of mutual fund monthly average AUM (MAAUM of Rs 1.57 trillion). READ MORE

BROKERAGE VIEW | Nirmal Bang Securities on Gillette India

RATING: ACCUMULATE | TARGET PRICE: Rs 5,895

With the easing of lockdown, GILL has seen a sharper-than-expected recovery since June’20. Going forward, we expect the company to deliver even higher growth in the rest of FY21 due to a low base, market recovery, service levels already coming back to pre-Covid levels in 1QFY21, product innovations, and strong retail execution. The stock currently trades at 57.4x/50.1x/45.1x FY21E/FY22E/FY23E EPS. We retain our Accumulate rating with a target price (TP) of Rs 5,895 by assigning a P/E multiple of 50x on September 2022 EPS.

BROKERAGE VIEW | Prabhudas Lilladher on M&M

RATING: BUY | TARGET PRICE: Rs 826

We reiterate BUY on M&M (MM) led by 1) positive rural sentiments and stable tractor outlook providing margins and cash-flow cushion to compete in UV business, 2) renewed focus to gain back lost market share in UV business with new product launches, 3) dominating presence in LCVs to help ride CV upcycle and 4) increased focus on capital allocation with exit of non-core business like GenZ, USPS (MANA) and Gipps Aerospace (aircraft manufacturing) in 1HY21. However, key factors such as 1) increased competition in UVs led by new entrant and 2) feedback on newly launched passenger UVs are to be watched out.

BROKERAGE VIEW | ICICI Securities on Engineers India

RATING: HOLD | TARGET PRICE: Rs 83 

Going forward, we expect revenue, EBITDA and PAT to grow at -0.3%, 3.3% and 5.4% CAGR, respectively, in FY20-22E with marginally higher contribution from consultancy segment. However, short-term headwinds may affect execution in FY21E amid challenges. EIL’s balance sheet continues to remain healthy with zero debt and cash balance of ~ Rs 2500 crore. Its book to-bill is at a healthy ~3x (order book at | 8978 crore). We value EIL at 11x P/E on FY22E EPS of Rs 7.6 with a revised target price of Rs 83 per share and change our rating from BUY to HOLD. Key risks are any project headwinds or delays in turnkey segment may further affect revenue growth.

BROKERAGE VIEW | Edelweiss Securities on Dr Reddy's

RATING: BUY | TARGET PRICE: Rs 5,730 

We expect DRRD to report double-digit revenue CAGR as: a) besides recent launches, the company has a healthy pipeline comprising gRemodulin, gVascepa, gKuvan powder, gNuvaring and gCopaxone for the next 12–15 months; ii) domestic business posted double-digit growth in the quarters prior to covid-19, and we expect it to recoup those levels over the next two–three quarters; iii) aggressive launches in the EU by replicating US dossiers are likely to drive low-to-mid teens growth. The past four years have seen ~800bps margin expansion mainly due to opex control and focused R&D. Improving quality of launches implies gross margin could surprise.

BROKERAGE VIEW | Edelweiss Securities on Aviation sector

The government-mandated current cap of 60% for domestic flights has been raised to 70%, which shall augment aircraft utilisation. Business travel remains highly subdued with some green shoots in the SME sub-segment, an area SJ specialises. Despite domestic demand gaining momentum, we expect a 250-plane surplus, two– fifths of India’s fleet during 2HFY21. We expect competitive pressure to persist, particularly as Jet Airways revives, and SJ to be a larger beneficiary in FY22 as the efficient B-737 get inducted. We maintain ‘BUY’ on SJ (TP: Rs 79, 8x FY22E EV/EBITDAR) and ‘HOLD’ on Indigo (TP: Rs 1,279, 8x FY22E EV/EBITDAR).

MARKET UPDATE:: Sensex slips into the red


BSE Auto index hits fresh 52-week high, zooms 100% from March low

Shares of automobile companies continued their northward movement with the BSE Auto index hitting a fresh 52-week high on Wednesday. The index has more-than-doubled from its March low. The strong rally in automobile stocks is on the expectation of improvement of volumes in the coming quarters on better rural sentiment, low-interest rates, improving finance availability, and a gradual pick-up in business and economic activity. READ MORE

Rally 2.0 underway for emerging markets as stocks add $8 trillion

The much-awaited rally 2.0 in emerging-market stocks may already be under way. Investors’ risk appetite got a boost after Joe Biden’s US presidential win and successes in vaccine development, pushing the benchmark MSCI gauge toward its best month since March 2016. The emerging-market equity rebound since the coronavirus rout in March is now worth $8.3 trillion, meaning more shareholder wealth has been added in the past eight months than in the two- year rally beginning 2016. READ MORE

Did festival demand revive Indian economy's animal spirits in October?

Demand during the festival season helped boost three of the eight high-frequency indicators tracked by Bloomberg News last month, while three were unchanged and two deteriorated. That kept the needle on a dial measuring so-called ‘Animal Spirits’ steady at 5 -- a level arrived at by using the three-month weighted average to smooth out volatility in the single-month readings. READ MORE

Most active stocks by volume

COMPANY PRICE(rs) CHG(%)
VODAFONE IDEA 10.16 -1.07
FUTURE CONSUMER 9.11 4.95
PUNJAB NATL.BANK 31.80 4.61
BANK OF BARODA 48.95 4.48
J & K BANK 23.65 -7.44
» More on Most Active Volume

HDFC Bank m-cap crosses Rs 8-trillion mark; stock zooms 30% in 3 months

Shares of HDFC Bank hit a fresh record high today after rising nearly 2 per cent on the BSE. At 09:17 am, HDFC Bank had a market capitalisation of Rs 8.02 trillion, the BSE data shows. In comparison, the S&P BSE Sensex was up 0.54 per cent at 44,765 points, also the index's record high. READ MORE

RIL at day's high


SBI adds 2% on fund raising

>> State Bank of India has raised Rs 2,500 crore by allotting 25,000 Basel III compliant Non-convertible, Taxable, Perpetual, Subordinated, Unsecured, Fully Paid-up Debt instruments in the nature of debentures qualifying as AT 1 Capital of the Bank, to bond subscribers.


Nifty PSU Bank index advances 3% in opening deals


SECTOR WATCH :: Nifty Bank index reclaims 30,000-mark


Tata Chemicals up 2%

>> Tata Chemicals on Tuesday announced it has appointed N Chandrasekaran as an additional director and chairman of the board of directors of the company effective November 24, 2020.


Sreeleathers slips over 4%

>>  The company's board has approved Rs 32,000 crore buyback at a price not exceeding Rs 160 apiece.


Muthoot Finance slips in a strong market

>> The RBI has turned down the proposal of Muthoot Finance to acquire IDBI Bank's mutual fund business, saying sponsoring a mutual fund is not in consonance with the activity of an operating NBFC. According to a regulatory filing by IDBI Bank on Tuesday, a share purchase agreement with regard to sale of IDBI Mutual Fund to Muthoot Finance was signed on November 22, 2019.


ONGC surges 5% amid rise in oil prices


Sectoral trends at Open


Sensex Heatmap :: IT stocks dip on profit booking, banks rally


Opening Bell | Nifty hits new peak of 13,146


Opening Bell | Sensex hits fresh record high of 44749.73


Stocks to watch today

Muthoot Finance: The RBI has turned down the proposal of Muthoot Finance to acquire IDBI Bank's mutual fund business, saying sponsoring a mutual fund is not in consonance with the activity of an operating NBFC. According to a regulatory filing by IDBI Bank on Tuesday, a share purchase agreement with regard to sale of IDBI Mutual Fund to Muthoot Finance was signed on November 22, 2019.
 
Sreeleathers: The company's board has approved Rs 32,000 crore buyback at a price not exceeding Rs 160 apiece. READ MORE

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


Markets at Pre-open


Markets at Pre-open


BROKERAGE VIEW :: Axis Securities on Sumitomo Chemicals

CMP: Rs 280 | TP: 310 | Reco: Add

>> Sumitomo Chemical (SUMICHEM) is in a sweet spot to capitalize on (a) its deep pan-India distribution (~13k dealers/ distributors) with wide product portfolio + access to Sumitomo Japan’ (SCCJ’) global product portfolio and (b) manufacturing of technicals for SCCJ (India is only other country ex-Japan with such capabilities) eventually becoming a potential hub.

>> It will also benefit from rejig in Nufarm’s (100% subsidiary of SCCJ in South America) global supply chain as SUMICHEM offers 10-12 generic products, which were sourced from third parties/JV with Fuhua Group in China till now. SCCJ’s global reach will also help SUMICHEM derive non-linear benefits from potential off-patented products over the next 3-5 years. SCCJ’s higher R&D spends and strong patents/ product launches open up potential for new generation molecules to be in-licensed and launched in India over the medium term.

>> Such expected strong growth in exports will reduce the cyclicality in domestic business (monsoon dependence) and derive operating leverage benefits (+merger-led synergies) in the medium term; expect 14% revenue CAGR and 29% earnings CAGR over FY20-23. Strong balance sheet (Rs 7 bn cash currently) with healthy FCF generation and return ratios (FY23E RoCE at 29% vs. 25% currently) offer comfort. Initiate with ADD rating and TP of Rs 310 (35x Sept’22E EPS).

>> Key risks: (a) delays in product launches/approvals, (b) product-specific bans globally which may hamper growth.

Currency Outlook :: Reliance Securities

>> The Indian Rupee could start Wednesday on a stronger note against the Greenback as the Dollar crashed on Tuesday.

>> The Rupee could likely open around 73.85-73.90 per dollar compared with 74.01 at close on Tuesday.

>> Meanwhile, NDF is at 73.93/74.01 this Wednesday morning.

>> The local unit depreciation could be limited supported by progress of another vaccine development and improved risk sentiment over a smooth transition to a Joe Biden presidency.

>> Technically, USDINR Spot holds a resistance of 100-Daily Moving Average which is placed at 74.12 levels and is sustaining below that level indicating sideways momentum to continue where it hold a support near 73.90-73.78 levels. Resistance is at 74.12-73.25 levels.

>> USDINR Spot is expected to trade in a range of 73.78-74.10 levels.

BROKERAGE VIEW :: CLSA on Telecom

>> Sector revenue up 33% from lows

>> Jio's revenue share is unchanged at 38%, Bharti Airtel at 32%

>> Voda Idea has los 22 ppt share from peak

>> Metros, most impacted by lockdown, had highest revenue growth at 11%

>> Bharti Growth is well placed to grow on 4G penetration

BROKERAGE VIEW :: CLSA on Equities

>> Brokerage sees first EPS upgrade after 23 quarters of downgrade

>> Core Q2 PBT for firms under their coverage was way ahead of estimates

>> Says cement, IT, pharma, bank, infra, power, realty, telecom, auto saw strong results

'Nifty could hit 13,150-13,200 in the coming sessions'

The 50-share index also remains above the 20-day SMA and has now closed at a new life time high after clearing the recent highs of 12,963. The odds, therefore, suggest that the index could further towards the 13,150-13,200 levels in the coming sessions. Short-term sell offs, however, cannot be ruled out. READ MORE

Weekly stock picks by Religare Broking

Buy Aurobindo Pharma Limited
 
Target: Rs 930
 
Stop loss: Rs 845
 
Aurobindo Pharma has witnessed a fresh breakout from a consolidation range on November 24, with a noticeable rise in the volume. The chart pattern and positioning of oscillators are pointing towards a sharp up move in the near future. We advise creating fresh longs in the given range. READ MORE

Bulk deals on NSE as on Tuesday

Bulk deals on BSE as on Tuesday

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


Rupee check

Source: Bloomberg


Oil check


SGX Nifty update

>> At 8:27 am, the index was at 13,138 level, up 55 points

Asian markets check

Source: Reuters


Dow scales 30,000 on vaccine headway, Biden transition

Source: Reuters


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