Stocks news in Nifty50 | Market updates| Market Index

December 6, 2019 admin

Market updates: Nifty holds 11900 levels, Nifty50 stocks in news

Market updates & Stocks in Nifty50: Today both Nifty and Sensex opened in the green, it was a positive start for the market. The market erased all its early gains and closed in red. Profit booking was seen in the second half in the Indian equity market today, Nifty holds 11,900 levels

At close, Nifty fell 96.90 points and closed in 11,921.50 while Sensex fell 334.44 points and closed at 40,445.15 today. The Bank Nifty also down 371.40 points and closed at 31341.55.

The Nifty midcap 100 index declined 248.40 points or 1.46% and closed at 16732. The Smallcap 100 index also down 54.85 points or 0.95% and closed at 5697.

Nifty50 stocks in news

The top gainers in the Nifty50 stocks are Bharti Infratel, Kotak Mahindra Bank, JSW Steel, Tata Steel, and Dr. Reddy’s Lab. The losers in the Nifty50 stocks are Yes Bank, SBI, Zee Enter. GAIL, IndusInd Bank.

In the Nifty midcap space, the gainers are Guj State Petro, L&T Technology and the losers are Dish Tv, RBL Bank. The top gainers in smallcap space are MMTC Ltd, EID Parry and the losers are Omaxe, NCC.

Among the sectors, almost all the major sectors closed in red today like Banking & Finance, Media, Infrastructure, Real Estate fell the most. The FIIs were buyers yesterday and DIIs were the seller, for today’s position, you may check the link after 7 pm

The Goods and Services Tax (GST) panel is going to raise a 5% tax slab to 6% as per the report. The slab restructuring will generate additional revenue of Rs 1000 crore per month. The GST panel to meet in mid-December to discuss the same.

Stocks in news in the Nifty50| Nifty

Nifty50 stocks

USFDA has approved a new drug launched by Dr. Reddys Lab. the share price of Dr Reddy has gained 0.67% and closed at Rs 2890.80 per share

Maruti Suzuki has decided to recall 63,493 petrol-hybrid variants of Ciaz, Ertiga and XL-6 model to rectify the safety defects. The share price of Maruti Suzuki fell 1.80% and closed at Rs 6886.70 per share.

The Glory Farmer Development Bank of Myanmar has selected Infosys Finacle for digital solutions and transformation of the bank’s retail business. The share price of Infosys gained 0.04% and closed flat at Rs 715.10 per share

Other Nifty stocks in news

Allcargo to buy a major stake in Gati. The share price of Allcargo gained 3.24% and closed at Rs 97.25 per share price whereas Gati declined 4.77% and closed at Rs 62.90 per share

Cadila Healthcare has got an Establishment Inspection Report (EIR) from USFDA. The share price of Cadila Healthcare has fell 0.91% despite the news and closed at Rs 255.30 per share.

The rating company CARE has revised the Shakti Pumps rating for long term bank facilities of the company from CAREA- stable to CARE A- negative. The share price of Shakti Pumps fell 2.95% and closed at Rs 207.25 per share

JB Chemical buybacks will open on 16th December for 29,54,545 fully paid-up equity shares at the price of Rs140 per share. The buyback offer will closed on 30th December 2019. The share price of JB Chemical gained 0.41% and closed at Rs 403.25 per share.

Vascon Engineering has got an order from the Airport Authority of India. The share price of Vascon Engineering has gained 4.55% and closed at Rs 12.65 per share.

KEC International has bagged order worth Rs 1025 crores. The share price of KEC International gained 0.74% and closed at Rs 271.65 per share.

Banking Stocks in news

Reserve Bank Of India has imposed a penalty of Rs 25Lakh for non-compliance of KYC norms, anti-money laundering standards and opening current accounts. The share price of Andhra Bank fell 3.02% and closed at Rs 17.65 per share.

Bajaj Finance has allotted 42,73504 shares of RBL Bank through QIP at the price of Rs 351 per share, aggregating Rs150 crore. The share price of Bajaj Fiance fell 0.98% and closed at Rs 3951.65 per share

Moody has downgrades Yes Bank’s long term foreign currency issuer rating from Ba3 to B2. The share price of Yes Bank has declined 9.82% and closed at Rs 56 per share

Crude and Rupee updates:

The crude oil future price is trading flat today ahead of OPEC meeting. At (4.30 pm IST) present Brent crude oil price is trading at $ 63.38 per barrel. The Indian rupee is trading at Rs 71.34 against the US dollar.

Conclusions

In the December series, we had only one positive day and that is on 4th Dec, a day ahead of RBI Policy on hope of rate cut. In the last series, we have seen news high in benchmark indices and record-high stocks in Nifty50 & Nifty. The Indian market had fallen in December series is due to the macro data and economic slowdown.

The market will trade in mild negative to sideways in the short term. Now all hopes are on the signing of phase one trade deal between the US and China. The positive news of trade deal signing can definitely change the Indian market sentiment.