Market updates: Sensex and Nifty trend today, latest stock market news

 

Indian market opened marginally lower in the morning today. The Nifty trend was sideways today, it has also touched a new record high along with Sensex and Bank Nifty. In the last hour, some movement in Bank Nifty was seen due to weekly option expiry.

 

Sensex and Nifty Trend today

At close, Nifty gained 38.05 points at 12259.70 while Sensex is at 41673.92 up by 115.35 points. The Bank Nifty was volatile in a tight range today, it was down 2.80 points only and closed at 32241.45.

The Nifty midcap and smallcap 100 index closed almost flat today. The Nifty midcap gained 12.55 points or 0.07% and closed at 16905.30 whereas the smallcap index was down1.05 points and closed at 5690.85.

The top gainers in the Nifty 50 stocks are Yes Bank, Eicher Motors, TCS, Bharti Airtel and Tata Motors. The losers in the Nifty 50 stocks are Vedanta, Grasim, Sun Pharma, HDFC and Adani Ports.

In the Nifty midcap space, the gainers are Jindal Steel, Indiabulls Vent and the losers are Dewan Housing, Indian Bank. In the Nifty smallcap space the gainers are Avanti Feeds, ITI and the losers are Reliance Comm, MMTC Ltd.

Today the Nifty trend was positive and the sectors which supported the trend are Telecom, IT & Software, Oil & Gas, Manufacturing, and Automobiles. The sectors that closed in red today are Aviation, Construction Material, Container and Packaging, Infrastructure, and Hospitality.

The FIIs are the buyers this week and DIIs are the net seller this week. For today’s FIIs & DIIs position you can check the link after 7 pm here 

Stocks in news today

Lemon Tree Hotels signed a license agreement for a hotel located at Goa under its brand. The share price of Lemon Tree gained 2.73% and closed at Rs 60.20 per share 

Trident has got patent for terry fabric weave and resulting terry fabric by European Patent Office. The share price of Trident has gained 4.32%  and closed at Rs 7.25 per share.

Goa Carbon’s Pradeep unit is likely to resume normal production from tomorrow 20th Dec. The share price of Goa Carbon gained 5% and closed at Rs214.40  per share.

NMDC has received the nod to hike Kumaraswamy iron output. The share price of NMDC has gained 2.79% and closed at Rs 123.30 per share.

Reliance Home Finance sought permission from banks to repay Rs 91.78 crore to its retail bondholders due next month. The share price of Reliance Home Finance fell 3.77% and closed at Rs2.55 per share

 

Pharma shares in News

Panacea Biotec has received awards worth $24.32 million from UN Agencies for the supply of its Easyfive-TT, a fully liquid WHO prequalified WP based Pentavalent Vaccine. The share price of Panacea Biotec has gained 3.99% and closed at Rs 130.20  per share.

Sun Pharma Advanced Research Company (SPARC) has entered into a licensing agreement with Bio project to acquire exclusive rights for investigational medical product SCD-044. The share price of SPARC has gained 1.17% and closed at Rs 164.60 per share.

Clariant Chemicals has sold its Masterbatch business to a subsidiary of PolyOne for Rs 426 crore. The share price of Clariant Chemical gained 13.08% and closed at Rs 360.50 per share

 

Foreign Brokerage and Rating Agencies Views on Stock 

CLSA slashed the price target of Havells India and maintained the outperform call on the stock. It has cut the target price from Rs 770 per share to Rs 730. The share price of Havells India fell 0.79% and closed at Rs 646.90 per share.

Morgan Stanley retained its bullish stance on Jindal Steel and Power (JSPL). It has maintained an overweight call on the stock with a target of Rs 174 per share. The share price of JSPL has gained 4.66% and closed at Rs 152.85 per share

The India Ratings and Research ( Ind-Ra) has downgraded Yes Bank’s long term issuer rating to ‘IND A’ from IND A+ and its short term issuer rating to IND A1 from IND A1+. The share price of Yes Bank fell 4% in the morning and then it recovered and closed 6.74% up at Rs 49.90 per share.

CARE Rating has placed the ‘Credit Watch with Negative Implications’ rating on commercial papers (CP) of JSW Energy and JSW Hydro Energy Ltd. The share price of JSW Energy closed flat at Rs 69.95 per share 

 

Crude and Rupee Updates

Today the crude oil is trading on three months higher, The Brent crude oil future is currently ( at 5 Pm IST) trading at $66.24 per barrel. It is trading 0.12% higher than yesterday’s close. 

The Indian Rupee is also trading marginally higher the current price is Rs 71.03 against the US dollar. The higher crude price can weaken the Indian Rupee in the coming days. Equity traders should also track the crude oil price.

 

Conclusions:

Indian stock market closed in a positive zone today. The Nifty trend today was sideways up and it will continue to touch new high in the coming days. The global cues are also favorable for the Indian market. FIIs are the net buyers in the cash segment so far this week. Investors should accumulate good stocks and traders can follow our Daily Nifty and Bank Nifty views

 

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Happy Investing!!

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