Share Market News Today | Sensex, Nifty, Share Prices Highlights: The benchmark equity indices ended Thursday’s trading session in positive territory. The NSE Nifty 50 soared 1.23% to settle at 21,182.70, while the BSE Sensex as much as 929.60 points to 70,514.20. The broader indices settled higher with the gains led by Midcap stocks. Bank Nifty index climbed 640.5 points or 1.36% to settle at 47,732.30. Realty and IT stocks led the gains among the other sectoral indices and settled with gains of over 3% each. Financial Services, Private Bank, Oil & Gas stocks also rallied by over 1% each, while Media, Healthcare, and Consumer durables stocks settled lower. Infosys, Tech Mahindra, LTIMindtree, Wipro, and HCL Tech were the top gainers on the NSE Nifty 50, while the laggards included Power Grid Corporation of India, HDFC Life Insurance Company, Nestle India, Cipla, and JSW Steel. The volatility index (India Vix) ended up 2.11%.
14:14 (IST) 14 Dec 2023 BSE listed firms m-cap jumps record high
Market cap of BSE-listed firms jumps to record high of ₹354.41 lakh crore; investors richer by ₹3 lakh crore on Wednesday.
13:58 (IST) 14 Dec 2023 Experts on Fed Commentary
“For the third time in a row, the Federal Open Market Committee (FOMC) has decided to keep the federal funds rate target range at 5.25%– 5.50%. The FOMC reports that there is slowing of the expansion of economic activity. The unemployment rate continues to be low. The rate of inflation has softened as compared to the beginning of the year. The US banking system is stable and strong. The Committee continues to pay close attention to inflationary threats. The Committee seeks to achieve maximum employment and inflation at the rate of 2% over the longer run. The Board of Governors of the Federal Reserve System voted unanimously to maintain the interest rate paid on reserve balances at 5.4%, effective December 14, 2023. The Board of Governors of the Federal Reserve System voted unanimously to approve the establishment of the primary credit rate at the existing level of 5.5%,” said Sanjeev Agrawal, President of PHD Chamber of Commerce and Industry.
13:55 (IST) 14 Dec 2023 Top gainers on NSE
LTI Mindtree, Tech Mahindra, Bajaj Finance, HCL Technology, Bajaj Finserv are the top gainers on NSE Nifty 50 index.
13:09 (IST) 14 Dec 2023 Chalet Hotels shares hit 52-week high
The stock price of Chalet Hotels surged 2.84% to to hit a fresh 52-week high of Rs 660.90 following the news that the India Ratings & Research has upgraded the Company’s Credit Rating from IND BBB+ to IND A- on a positive outlook.
12:53 (IST) 14 Dec 2023 Indian market looks poised for further gains
“A confluence of domestic and global factors is driving a Goldilocks scenario in the Indian equity market. Unwavering political stability, a robust macroeconomic backdrop with healthy GDP growth and subdued inflation, and weakening dollar and US bond yields amid expectations of a 2024 rate cut have fueled bullish momentum. Moreover, a recent slump in crude oil prices has eased inflation pressure, further boosting investor confidence. Adding fuel to the fire, foreign institutional investors (FIIs) are exhibiting signs of FOMO, eager not to miss out on this potential multi-year bull run. With such a compelling confluence of factors, investors are advised to stay invested. The Indian market looks poised for further gains, with Nifty‘s immediate upside target sitting at 21,315. This rally has the potential to extend towards the 22,000 mark, though downside support lies at 20,770. Bank Nifty also exhibits bullish momentum, facing immediate resistance at 48,000. Above this, a swift climb towards the 50,000 mark could be in store. The 47000–46800 area will be a strong support zone,” said Parth Nyati, Founder of Tradingo.
12:33 (IST) 14 Dec 2023 Benchmark indices hit fresh high
The Nifty 50 soared 1.25% to hit a record high of 21,189.55, while the BSE Sensex jumped 955.4 points to hit a fresh high of 70,540 during the intra-day on Thursday.
11:53 (IST) 14 Dec 2023 Views on India Shelter IPO
“We believe India Shelter IPO offer gives investors an opportunity to invest in fastest growing affordable housing finance sector, with a targeted focus on financing residential properties for first-time home loan takers. We think their impressive AUM growth of 40.8% between FY2021 and FY2023 reflects their agility and market responsiveness and their significant presence in key states, comprising 47% of the affordable housing finance market, reflects a robust regional foothold. We believe India Shelter is in right space to tap GOI focus under “Aavas for all” program and target segment on first time home loan takers in the low and middle income group in Tier II and Tier III cities in India, which is growing high when compared to Tier 1 cities. By looking at the financials the company has shown a strong growth between fiscal 2022 and 2023 with a 41.45%/30.48% in revenue from operations and 48%/21% in net profit. On Valuation par se at upper price band of Rs.493/-, the issue is asking for a Market Cap of Rs. 5278 crore. Based on annualized FY24 earnings and fully diluted post-IPO paid-up capital, the company is asking a P/B of 2.3x which seems the valuations are reasonable when compared to its industry peers which are trading above 4x on average. Given the company has created a niche place in affordable housing finance in the middle and lower middle class with 97.7% of their loan applicants are women which makes them apart from other housing finance companies. Hence, considering all the parameters, we are recommending investors to “Subscribe” for the long term,” said Rajan Shinde, Research Analyst, Mehta Equities Ltd
11:30 (IST) 14 Dec 2023 Top Gainers in IT
Mphasis, Coforge, L&T Technology Services, Persistent Systems, and LTI Mindtree are the top buzzing stocks in IT basket.
11:17 (IST) 14 Dec 2023 USD-INR Outlook
“Look for slippage past 83.29 to play downsides aiming 83.19 and 83.02 initially. Alternatively, if slippages pause at 83.19, look for a resumption of upswings that were stalled yesterday and get back to the 83.35-83.4 region,” said Anand James, Chief Market Strategist at Geojit Financial Services.
11:00 (IST) 14 Dec 2023 Markets so far
10:27 (IST) 14 Dec 2023 Derivative outlook
“Nifty weekly contract has highest open interest at 21000 for Calls and 20500 for Puts while monthly contracts have highest open interest at 21000 for Calls and 19000 for Puts. Highest new OI addition was seen at 20900 for Calls and 20500 for Puts in weekly and at 21000 for Calls and 20500 for Puts in monthly contracts. FIIs decreased their future index long position holdings by 6.28%, increased future index shorts by 1.81% and in index options by 13.86% decrease in Call longs, 8.63% decrease in Call short, 28.73% decrease in Put longs and 22.32% decrease in Put shorts,” said Anand James, Chief Market Strategist at Geojit Financial Services.
10:12 (IST) 14 Dec 2023 Buzzing Stocks
SAIL, MphasiS, Coforge, Manappuram Finance, and Info Edge are the top stocks trading at their 52-week high.
10:05 (IST) 14 Dec 2023 Reliance Industries share gains
The share price of Reliance Industries has surged by 1.38% to Rs 2,467.20 following the news that Moody’s has affirmed Reliance’s rating at Baa2 with a stable outlook.
09:56 (IST) 14 Dec 2023 Nifty Outlook
“Reclaiming of 20800-850 region not only negates the efforts of bears yesterday, but also allows resumption of upside trajectory aiming 21030-21220, or 21600 in an optimistic scenario. Alternatively inability to float above the 20890 region would weaken the bullish construct again, but a collapse is less favoured today,” said Anand James, Chief Market Strategist at Geojit Financial Services
09:42 (IST) 14 Dec 2023 Technical View
Commenting on the Technical outlook of Kunal Shah, Senior Technical & Derivative analyst at LKP Securities, said, “After a brief dip, the bulls demonstrated strength by defending the crucial support level of 20800. The index witnessed a sharp recovery from the day’s low to the high point. The overall market sentiment remains bullish, and considering the current levels, traders are advised to initiate fresh long positions. A stop-loss can be set at 20800, targeting potential upside levels of 21400/21500 in the near term.”
09:32 (IST) 14 Dec 2023 Early Gainers
HCL Technologies, Tech Mahindra, LTI Mindtree, Infosys and Wipro are the top gainers on Nifty 50 index.
09:23 (IST) 14 Dec 2023 Bank Nifty Outlook
“Despite initial concerns, the Bank Nifty index displayed strength by not breaching the crucial support of 46800 and instead witnessed a sharp rebound from lower levels. To sustain and further advance the upward momentum, the index needs to maintain levels above 47200. A decisive close above 47500, where call writers are active, could pave the way for additional gains, targeting levels of 48000/48500 in the upcoming,” said Kunal Shah, Senior Technical & Derivative analyst at LKP Securities.
09:15 (IST) 14 Dec 2023 Markets at open
The NSE Nifty 50 gains 0.88% to settle at 21,110.40, while the BSE Sensex jumped 0.81% to 70,146.10.
09:03 (IST) 14 Dec 2023 F&O Ban
The NSE has added India Cements, Balrampur Chini Mills, Delta Corp, Indiabulls Housing Finance, Hindustan Copper, National Aluminium Company Ltd, SAIL, and ZEEL to its F&O ban list.
08:52 (IST) 14 Dec 2023 FII, DII Data
Foreign institutional investors (FII) buyed shares worth net Rs 4710.86 crore, while domestic institutional investors (DII) offloaded shares worth net Rs 958.49 crore on December 13, 2023, according to the provisional data available on the NSE.
08:44 (IST) 14 Dec 2023 Crude Oil
WTI crude prices are trading at $69.92 up 0.65%, while Brent crude prices are trading at $74.62 up 0.48%, on Thursday morning.
08:34 (IST) 14 Dec 2023 Asian Markets
Shares in the Asia-Pacific region are trading in the negative territorry on Thursday morning. The Asia Dow is trading up 0.47%, Japan’s Nikkei 225 is red, down 0.59%, Hong Kong’s Hang Seng index is trading down 0.89% and the benchmark Chinese index Shanghai Composite is trading down by 1.15%.
08:25 (IST) 14 Dec 2023 US Dollar
The US Dollar Index (DXY), which measures the value of the dollar against a basket of six foreign currencies, traded down 0.09% at 102.78.
08:16 (IST) 14 Dec 2023 Wall Street
US stocks closed at fresh highs of the year on Wednesday, after Fed signals three rate cuts in 2024. The tech-heavy Nasdaq Composite advanced 168.17 points or 1.16% to 14,701.57 and the S&P 500 added 55.99 points or 1.21% to 4,699.69. The Dow Jones Industrial Average rose 447.43 points or 1.22% to 37,025.37.