Share market updates today: Sensex, Nifty hit a new high, retail inflation soars to 7.35% at 5years high.

 

The Indian share market opened positive today. The market continued its upward momentum for the third consecutive days today. Both Sensex and Nifty hit new record high with the support of positive global cues and IIP numbers.

 

Share market updates today

At close, Nifty gained 72.75 points and at 12329.55 while Sensex was up 259.97 points and at 41859.69. The Bank Nifty was trading range-bound today, it gained 80.25 points and closed at 21177.65.

The Nifty midcap 100 index gained 141.15 points or 0.81% and closed at 17,527.20. The small-cap index of Nifty was up 58.85 points or 0.97% and closed at 6115.35.

The top gainers in the share market in Nifty50 space are Infosys, IndusInd Bank, Coal India, Gail, and  Bharti Airtel. The losers in the Nifty50 stocks are Yes Bank, UPL, Bharti Infratel, TCS, and Eicher motors.

In the Nifty midcap space, the top gainers are Dilip Buildcon, Prestige Estate and the losers are Reliance Capital, Reliance Infra. The gainers in Nifty smallcap are TV18 Broadcast, IRB Infra and the losers are Reliance Comm, CG Power.

Among the sector in today’s share market, almost all the major sectors closed in green expect Hospitality, Photography and miscellaneous.

Today both FIIs and DIIs are the net buyers in the cash segment, FIIs bought Rs 68.24 crores and DIIs purchased Rs 47.17 crore. 

The CPI data accelerates to 7.35% in December as compared to 5.54% in November  2019. Food inflation has accelerated retail inflation higher in the month of December, the vegetable inflation stood at 60.5% in December versus 36% in November 2019.

 

Stocks in news today in the share market today

Infosys share price reacted positively in the share market today after the Q3 numbers announced. The company on Friday announced an 11% increased in net profit on a QoQ basis. The share price of Infosys gained 4.80% and closed at Rs 773.55 per share.

Avenue supermarket has reported Q3FY20 standalone net profit rose 53.3% at Rs 394.3 crore versus Rs 257.1 crore. The company’s revenue was up 23.9% at Rs 6751.9 crore as against Rs5450.9 crore on YoY basis. The share price of Avenue Supermarket gained 2.01% and closed at Rs 37.70 per share.

Lupin has received a letter from the USFDA classifying the inspection conducted at Tarapur manufacturing API) facility in September as Official Action Indicated (OAI). The share price of Lupin fell 1.36% and closed at Rs 748.60 per share.

PVR opens a new 4 screens multiplex at Cosmo Mall in Zirakpur, Punjab. PVR is now the largest multiplex network with 825 screens. The share price of PVR fell 1.16% and closed at Rs 1883.65 per share.

JSW Steel crude steel production down 5% at 4.02 mt against 4.23 mt, YoY basis. The share price of JSW Steel gained 0.25% and closed at Rs 278.60 per share.

Alembic Pharma has received approval from USFDA for its Abbreviated New Drug Application (ANDA). The share price of Alembic pharma gained 0.15% in NSE and closed at Rs 558.75 per share.

 

Banking & Finance Shares in news

Edelweiss Financial has clarified that it has no relationship with Capstone Forex Pvt Ltd and all allegations of FEMA violations are false. The share price of Edelweiss Finance gained 3.78% and closed at Rs 110.10 per share.

The Yes Bank continued to trade-in lower on the second consecutive day after the news of Company’s Independent Director Uttam Prakash submitted his resignation ahead of his terms. The share price of Yes Bank declined 5.92% and closed at Rs 42.10  per share 

 

Tata Group’s Shares in news

The Tata Power Solar System a wholly-owned subsidiary of Tata Power has received a Letter of Award (LOA) from NTPC for a 250 MW solar projected under the CPSU Scheme. The share of Tata Power gained 0.76% and closed at Rs 59.40 per share.

The Tata Elxsi reported in  Q3FY20 the net profit of the company was Rs 75.4 crore as against Rs 49.8 crore on QoQ. Its revenue went up by 9.7% at Rs 423.4 crore against Rs386 crore QoQ. The share price of Tata Elxsi gained 5.01% and closed at Rs 891.05 per share.

The NCLT has approved the demerger of the consumer products business of Tata Chemicals and vesting it with the company. The Tata Global Beverage hit a new high at Rs 353.85 and gained 3.40%  and closed at Rs 352.95 per share.

Tata Motors reported that its global wholesales in Dec2019 including Jaguar Land Rover declined 3% YoY. Its commercial vehicles and Tata Daewoo range in December 2019 were down 15%. The share price of Tata Motors declined 0.05% and closed at Rs 196.25 per share.

 

Crude and rupee updates:

The crude oil is trading lower today, it has corrected the prices that hiked during the US and Iran tension. The Brent crude oil future price is $64.48 per barrel around 8 pm IST. It is trading 0.75% lower from the previous day’s closed.

The Indian rupee closed at Rs 70.86 against the US dollar today, it gained 0.11% from the last day’s close.

Conclusions:

Indian share market closed in a positive note on the first day of the week ahead of retail inflation data. Sensex and Nifty hit a new record high today. The market is looking positive for the long term because of a positive global market, US-China trade deal and last week India’s positive macro data. 

The retail inflation announced today after the market is 7.35%, its at 5 years high. Tomorrow market will first react to higher retail inflation, we may see some profit booking in the first session tomorrow.

Traders can refer our Nifty and Bank Nifty technical levels for tomorrow and can read Weekly market updates and events here.

 

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Happy Investing!!

 

Editor’s Desk