Sensex and Nifty50 closed flat today, auto stocks are in the news

 

Indian stock market Sensex and Nifty50 today opened in positive amid weak GDP numbers but could not hold its early gains. The market closed in a flat after a range-bound trading session.

 

Sensex and Nifty50 today

The Nifty50 closed 7.85 points down and closed at 12048.20 while the Sensex was up 8.36 points and closed at 40802.17. The Bank Nifty which was trading negatively throughout the session after opening in positive could hold its early gain. It fell 74.65 points and closed at 31,871.45.

The Nifty midcap 100 index fell 118.70 or 0.69% and closed at 17103.45. The smallcap Index of Nifty also down 52.60 points or 0.90% and closed at 5762.25.

Nifty50 gainers and losers

The top gainers in the Nifty50 stocks today are Bharti Airtel, JSW Steel, Grasim, Reliance and Asian Paints. The losers in the Nifty50 stocks are Yes Bank, Eicher Motors, Bharti Infratel, Bajaj Fiance and ONGC. 

The gainers in Nifty midcap space are Prestige Estate, JSW Energy and the losers are Graphite India and HEG. The gainers in the Nifty smallcap space are Trident, Reliance Communication and the losers are Himadri Special, TV18 Broadcast.

Among the sectors, Telecom, Manufacturing, Retail, Oil & Gas, & Industrial Gas ends in the green today. Whereas the sectors which end in red are IT & Software, Paper, Media, Logistic, Banks, and Finance.

The FIIs are the seller today, sold Rs 1731.33crores and DIIs bought Rs 753.99 crores in the cash segment today. 

Nifty stocks in the news today

L&T Technology bags order from Airbus India to manage their Avionics Software Development, Validation, and Verifications and Data analytics. The share price of L&T Technology Services fell 1.26% amid positive news and closed at Rs 1471.95 per share

The Share price of Yes Bank tanks 6.22% amid the news of raising funds up to USD2 Billion through preferential allotment. The share price closed at Rs64.05 per share

Vodafone Idea, Bharti Airtel, Reliance JIO gained after the 47% tariff hike. The share price of Vodafone gained 13.87% and Airtel Gained 3.65% and closed Rs 7.80 per share and Rs458.60 per share respectively.

The US court has denied dismissing some claims of certain plaintiffs related to the Ranbaxy case. The Sun Pharma fell 2.19% today on the news and closed at Rs 440   per share 

The Coal Indian announced that it’s November production was down 3.9% at 50.02MT and offtake was down 7.6% at 47.37% YoY. The share price of Coal India gained 0.29%   and closed at Rs 205.85 per share.

NCC has got an order worth of Rs 243 crore in the month of November from the state government agency for its road division. The share price of NCC fell 2.52% and closed at  Rs 57.95 per share.

Pharma stocks in News today

The Cadila company’s Board of Directors has approved the merger/amalgamation scheme of Zydus Technology, Alidac Pharma, Liva Pharma, and Dialforhealth India with the company. The share price of Cadila gained 1.59%  and closed at Rs 258.20 per share.

Auto Stocks in News today

Eicher motor’s share price slipped due to poor auto sales numbers. The company reported an 8% drop in two-wheeler sales. The share price of the Eicher Motors fell 5.11%   and closed at Rs 21713.10 per share.

 The two and three-wheeler maker Bajaj Auto reported a 1% fall in sales, it has beat analysts estimates. The share price of Bajaj Auto fell 0.53% and closed at Rs 3159.25  per share.

Ashok Leyland reported a 22% sales to decline in Nov as compared to last year same period. The sales report is better than Analyst estimates. The share price of Ashok Leyland gained 0.57% and closed at Rs 79.60 per share.

Hero Motorcorp sales dip 15% compared to last year same period, The share price of the Hero Motor Corp fell 1.09% and closed at Rs 2406.95 per share.

 

Crude and Rupee Updates

Crude Oil price jumps on the hops of further OPEC output cuts and increasing demands in China. The Brent Crude Oil future is currently (IST 8 pm) trading at $61.61 per barrel almost 1.90% up. The Indian rupee closed at Rs71.65 against the US dollar today.

 

Conclusions:

Indian stock market Sensex and Nifty50 opened positive today morning and later it closed flat. The market for the short term may trade in sideways. Actually, the market is looking for a trigger to move further. The phase one trade deal signing can be a positive trigger for the market on the global front. 

Traders can read our December month’s views and Nifty and Bank nifty technical levels for tomorrow.

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