The market today: Nifty share price closed above 11900 & Sensex up 172 pts

 

Sensex & Nifty Share Price today opened marginally higher and extends its morning gains at the end. In the end, Nifty was up 53.40 points and closed at 11910.20 while Sensex gained 172.69 points and closed at 40412.57. The Nifty Banking index gained 96.50 points today and closed at 31256.80.

 

Nifty Share Price today

The Nifty midcap 100 index gained 123.10 points or 0.75% and closed at 16635.80. Whereas the Nifty smallcap 100 was down 11.95 points or 0.21% and closed at 5578.60.

The top five gainers in the Nifty50 stocks for the day are GAIL, Zee Ent, NTPC, IOC and ONGC. The losers in the Nifty50 stocks are Yes Bank, Vedanta, Hero Motor Corp, Hindalco, and Larsen. The Yes Bank tanks fell second consecutive day, it tanks 15% at the close.

In the Nifty midcap space, the gainers are Manappuram Finance, AB Capital and the losers are Sterlite Techno, Dewan Housing. The gainers in the Nifty smallcap space are Ashok Buildcon, Lux Industries, and the losers are India Tourism D, Allahabad Bank.

Among the sectors, Banking & Fiance, Industrial Gas, IT & Software, Real Estate, and Media are closed in green. The sectors which closed in red today are Paper, Telecom, Metal, Construction Material, and Infrastructure.

Asian Development Bank (ADB) has lowered its growth forecast for Asia this year due to a weaker outlook for China and India. ADB has also lowered forecast for India for the year 2019 and 2020 to 5.1%  and 6.5%, from its September estimates of 6.5% and 7.2%. This is due to liquidity crunch to NBFC and slow job growth.

FIIs bought Rs 605.41 crore and DIIs bought Rs 238.87 crore in the cash segment today

 

Nifty share price in news today

On the possible merger news of Dish TV and Bharti Airtel, the share price of Dish TV gained   2.69% and closed at Rs 13.35 per share.

Jindal Steel and Power has commissioned fourth Coke Oven Battery at Angul steel plant. The share price of JSPL has gained 2.27%  and closed at Rs 144.45 per share 

CRISIL reaffirmed rating of Excel Industries on long term bank loan facilities at CRISIL A+/ Stable and on short term bank loan facilities at CRISIL A1. The share price of Excel Industries fell 1.06% and closed at Rs 785.05 per share.

Adani Electricity Mumbai (AEML) a subsidiary of Adani Transmission and a subsidiary of Qatar Investment Authority (QIA)- Quatar Holding LLC, has signed a definitive agreement for sale of 25.1% in AMEL. The share price of Adani Transmission gained  1.53% and closed at Rs 341.85 per share.

Bharti Infratel declares a second interim dividend of Rs 2.75 per equity share of Rs 10 each for the year 2019-20. The share price of Bharti Infratel gained 0.20% and closed at Rs 254.60 per share.

Reliance Industries signed an agreement with The Abu Dhabi National Oil Company (ADNOC) to explore the development of an Ethylene Dichloride facility in Ruwais. The share price of Reliance Industries closed flat at Rs1562.40  per share.

The V-Guard promoter sold 51.20Lakh shares, constituting 1.2% of the total paid-up capital of the company in the open market to raise funds for social projects. The share price of V-Guard fell 1.21% and closed at Rs 212 per share.

 

Infrastructure and Construction Stocks in news

KNR Construction has received a work order for Rs 240 crore from Cheif Engineer (M) GHMC, Hyderabad for a comprehensive Road maintenance plan in Secundrabad Zone for 5 years. The share price of KNR Construction fell 0.51% in NSE and closed at Rs  225.35 per share.

HG Infra Engineering has got an appointment date from NHAI for the project construction of Eight Lane Carriageway starting at Haryana- Rajasthan border and ends at Junction with SH44 section of Delhi Vadodara. The share price of HG Infra Engineering gained 1.94% at and closed at Rs 220.15 per share.

 

Banking and Finance Stocks in News

The Yes Bank tanks consecutively for the send day, even though the board said it was considering Citax Holdings $500 million fund offer. The Bank has not yet finalized its investment source to raise funds. The share price of Yes Bank fell 15.33% and closed at Rs 42.80 per share.

The directors of L&T Finance the subsidiary of L&T Financial Holdings has approved to issue Secured redeemable non- convertible debentures eligible for Tier II Capital (NCDs) aggregating Rs 5000 crores. The share price of L&T Financial Holdings gained   1.49% and closed at Rs 116.05 per share.

HDFC Bank has signed an MOU with Storeking a distribution platform that connects brands to small towns and villages of India. The share price of HDFC Bank closed flat at Rs 1248.75 per share.

Reliance Capital has delayed in payment on interest/ principal obligations which was due on 9th Dec. The share price of Reliance Capital plunged 4.80%  and closed at Rs 10.90 per share. 

 

Crude and Rupee Updates

Brent crude oil future is trading lower today, It is currently trading (at 7.30 pm IST ) at $63.94 per barrel. The Indian rupee today closed at Rs 70.84 against the US dollar.

 

Conclusions:

The Indian share market closed in the positive zone today. Tomorrow, the market will remain volatile due to global and domestic events. Check out the events here. Traders should trade with strict stop loss and can also follow our Nifty and Bank Nifty share price views for tomorrow.

 

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Happy Investing!!

Editor’s Desk