Market News for today| Nifty, Sensex today| IIP, CPI data

December 12, 2019 admin

Market News for today- Sensex and Nifty today, IIP and CPI data and Stocks in News

Market News for today: The benchmark indices started with a positive note today. The global markets have also supported the rally. Yesterday the US market turned positive after FED held its interest rate steady and signaled to hold in 2020.

Market News for today: Nifty, Sensex and Bank Nifty

At close, Nifty gained 61.65 points and closed at 11971.80 while Sensex was up 169.14 points and closed at 40581.71. The Nifty banking index gained the most, it gained 1.31% or 408.70 points and closed at 31665.45.

The Nifty midcap 100 index was up 135.70 points or 0.82% and closed at 167771.50. The smallcap 100 index in Nifty gained only 26.25 points and closed at 5604.85.

The top five gainers in the Nifty50 stocks are Tata Motors, Yes Bank, Vedanta, Tata Steel, and SBI. The losers in the Nifty50 stocks are the Infosys, ONGC, HCL Tech, TCS and Bharti Infratel.

The gaining sectors in the NSE are Automobiles, Agri, Banks, Infrastructure, Retail, and Metals. The sectors which closed in red in NSE are IT & Software, Telecom, Aviation, and Footwear.

Latest News for today: FIIs | IIP | CPI

The FIIs are the sellers and DIIs are the buyers in the cash segment. FIIs sold Rs 683.83 crores and DIIs bought Rs 810.23 crores in the cash segment today.

CPI Inflation reaches at 5.54% in November compared to 4.62% in October, it is at 3 years high. Food inflation has jumped and is the main reason for the higher CPI number in November.

The Industrial output IIP number for October is -3.8 compare to -4.3 on MoM basis. The IIP numbers contracted for three consecutive times in October.

Stocks are in News for today

The Reliance Strategic Business Ventures (RSBVL) a wholly-owned subsidiary of Reliance has acquired 85% holding in Nowfloats for Rs 141.63 crore. The share price of Reliance Industries gained 0.37% and closed at Rs 1568.20 per share.

Prakash Industries has been declared a successful bidder for the Bhaskarpara coal mine. The share price of Prakash Industries gained 0.60% and closed at Rs 41.80 per share.

L&T Construction has got an order from Rail Vikas Nigam Limited (RVNL) for the construction of tunnels, bridges and information works in the state Uttarakhand. The share price of L&T has gained1.22% and closed at Rs 1279.70 per share.

Nomura has given a Buy call on KEC International with a target price of Rs 388 per share. The share price of KEC International has gained 2.90% and closed at Rs 285.35 per share.

Godrej Properties has added three new projects in Navi Mumbai, Ambernath and Thane and another at Bangalore. These new projects will add 1.18 million square meters approximately to its development portfolio. The share price of Godrej Properties gained 3.18% and closed at Rs 930.80 per share.

Morgan Stanly has given an overweight rating to NTPC with a target price of Rs 152 per share. The share price of NTPC gained 1.28% and closed at Rs 114.45 per share

Confidence Petroleum has got a contract for the commissioning of CNG Dispensing Stations by Gujarat Gas in the state of Gujarat. The share price of Confidence Petroleum has gained 0.56% and closed at Rs 27.05 per share.

Banking and Finance Stocks in News for today

Ujjivan Small Finance Bank listed today at Rs 58 on the BSE with a premium of 56.75% over the issue price of Rs 37 per share. The share price of Ujjivan Small Finance Bank closed at Rs 55.95 per share.

Bank of Baroda has signed a binding agreement to sell Trinidad and Tobago subsidiary to Ansa Merchant Bank. The share price of Bank Of Baroda has gained 2.30% and closed at Rs 97.90 per share.

Cholamandalam Investment and Finance Company has approved for payment of interim dividend. The company will pay 50% being Re1 per equity share of Rs 2 each by 31st March 2020. The share price of Cholamandalam Investment and Finance Company gained 3.39% and closed at Rs 313.05 per share.

IT Stocks are in News

Tata Consultancy Services has announced a new partnership with Flisa Smart Factory to market and deploy the Flisa’s industrial IoT and advanced analytics solutions to worldwide. The share price of TCS fell 1.03% and closed at Rs 2020.90 per share today

L&T Infotech has entered into a partnership with Hoist Finance AB, a Swedish Company for multi-year. The share price of L&T Infotech fell 0.23% and closed at Rs 1630.75 per share.

The Tech Mahindra has bagged a smart city project in Pune worth Rs 500 crore. The share price of Tech Mahindra fell 0.20% and closed at Rs 756.45 per share.

Pharma Stocks are in News

Cadila Healthcare has launched an affordable oral anti-diabetic tablet. The share price of Cadila Healthcare gained 0.61% and closed at Rs 264 per share.

Cipla has submitted an application for intravenous (IV) tramadol with USFDA. The share price of Cipla has gained 2.47% and closed at Rs 461.05 per share

Crude and Rupee Updates:

The Brent crude future is trading 1.41% higher at $64.61 per barrel. (at 9 pm IST). The Indian rupee is closed at Rs70.66 against the US dollar.

Conclusions

Today market closed in a positive note. In the above report, we have done an analysis of the market and stocks which are in news for today. The above mentioned CPI and IIP data are announced after the market today. The FIIs were the net seller in the cash segment, they were buyers yesterday. The weak IIP and CPI data are already factored in the market, we may see a volatile market tomorrow