Share market updates today: Sensex, Nifty & Bank Nifty have touched record high

 

Share market updates today: Indian share market opened today in the green after getting a positive indication from the SGX Nifty. Sensex, Nifty and Bank Nifty have touched record high today. All the benchmark indices closed in the green and near the all-time high. The steel sector is the biggest gainer among the lot.

At the close, Nifty was up 111.05 points and closed at 12165 while Sensex gained 413.45 points and closed at 41352.17. The Bank Nifty also gained 166.05 points and closed at 32140.25.

The Nifty midcap 100 gained 96.85 points or 0.58% and closed at 16938.95. The smallcap 100 index of Nifty was up by 0.75% higher or 42.55 points and closed at 5690.

The top gainers in Nifty50 stocks are Tata Steel, Bharti Airtel, Vedanta, Hindalco, and Tata Motors. The losers in the Nifty50 stocks for the day are Sun Pharma, GAIL, Titan Company, HUL, and Bajaj Auto.

Among the sectors today, Metals, Telecom, IT & Software, Paper, Infrastructure, and Banking & Finance. The sectors which closed in red are Consumer Durables, Healthcare, Footwear, Oil & Gas and Capital Goods. 

The FIIs were the buyers yesterday and DIIs were the seller, for today’s position one can check the link here only after 7 pm 

 

Share market updates today: Stocks are in the news

Lupin has announced that its subsidiary Nanomi B.V has completed the divestiture of the entire stake in Kyowa Pharmaceutical Industry Co. Ltd to Unison Capital Partners IV LPS and Unison Capital Partners IV (F) L.P pursuant to the satisfactory completion of all customary closing conditions. The share price of Lupin has gained 0.15% and closed at Rs 748.55 per share.

Odisha Thermal Power Corporation Ltd (OTPCL) has signed MOU with NBCC for civil construction and various developmental works of thermal power plants. The total estimated cost of the project is Rs 200 crore. The share price of NBCC has gained 1.87% and closed at Rs 35.45 per share.

Whirlpool India plunge 5% today morning after its MD Sunil D’Souza resigned and accepted in the yesterday’s board meeting. The share price of Whirlpool India declined 4.65% and closed at Rs 2148 per share.

Kolte Patil Developers has got a very good response inZABURDUS promotion and sold 500 units with a booking value of 205 crore. The promotion was for the period of 7th November to 15 Dec. The share price of Kolte Patil gained 13.23% and closed at Rs 253.25 per share. 

 

Foreign Brokerage views on stocks

The global brokerage house CITI has upgraded Tata Steel and JSW Steel from sell to buy and SAIL to neutral. The share price of all three steel companies gained 3-4% today. At close, Tata Steel and JSW Steel gained 4.04%, 2% and closed at Rs 438 and Rs 258.15 respectively.

The Foreign research house Bank of America Merill Lynch has upgraded the rating of Maruti Suzuki from neutral to buy and raise the target from Rs 7450 to Rs 8650. The share price of Maruti Suzuki has gained0.63% and closed at Rs 7185 per share.

S&P has cut the Shriram Transport Finance Corporation’s outlook to negative from the stable. The share price of the Shriram transport Finance Corporation has fell 1.64% and closed at Rs 1082.95  per share.

Crude and Rupee Updates

JP Morgan raised its crude oil price outlook for 2020 due to the increasing output cut. It has revised the Brent price forecast to $64.5 per barrel in 2020 from an earlier forecast of $59 per barrel. 

The Brent Crude future oil price is trading at $65.50 per barrel. The Indian Rupee is currently trading at Rs 70.98 against the US dollar.

 

Conclusions:

The benchmark indices have touched a record high today. Indian share market is looking positive may touch more new highs in the coming days. In the coming days, we may see more reforms and interest rates cut from the government to revive the economy. Globally the market sentiments are also positive and supportive.

Above we have covered all updates on the share market today. Traders can also follow our technical levels of Nifty and Bank Nifty for tomorrow here on a daily basis. 

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Happy Investing!!

Editor’s Desk