Market updates: Sensex & Nifty, Top gainers & losers for today, Stocks in the news

 

Sensex, Nifty top gainers today: The Indian stock market started in a flat note today and closed in red for the third consecutive days. The market was trading range-bound in the morning in the last hour profit-booking dragged down the market on the expiry day.

In the end, Nifty was down 88 points and closed at 12126.55 while Sensex declined 297.50 points at 41163.76. The Bank Nifty also fell 283.05 on spot level and closed at 31997.70.

The Nifty midcap and smallcap 100 index was closed in green today, both are closed marginally up from the last day’s close. The Nifty midcap gained 11.50 points at 16863.55 whereas as the Nifty smallcap was up by  4.70 points and closed at 5684.60.

 

Top gainers today

The top gainers today in the Nifty 50 stocks are Vedanta, ONGC, Bajaj Finance, Tata Steel and NTPC. The losers in the Nifty 50 stocks for the day are Yes Bank, Bharti Airtel, Reliance, IOC, and Sun Pharma.

The top gainers today in the Nifty midcap space are Dewan Housing, Reliance Infra and the losers are Union Bank Quess Corp. The gainers in the Nifty smallcap are Infibeam Avenue, Reliance Comm and the losers in the Nifty smallcap category are Syndicate Bank and Allahabad Bank.

Among the Sectors, the top gainers today are Consumer durables, retail, Textile, Metals, Electrical, and Aviation. The losers are Banking, Infrastructure, Oil & Gas, Telecom, Industrial Gass and Hospitality.

On Tuesday both FIIs are DIIs were the net seller in the cash segment. Today FIIs sold Rs 504.13 crores and DIIs bought Rs 120.46 crores in the Cash Segment.

 

Stocks in News today

The Yes Bank’s rating downgraded by the Brickwork Ratings, the share price of Yes Bank fell 4.98%   and closed at Rs 48.65 per share.

HC allows Eveready company to go ahead with the sale of its Hyderabad property. The share price of Eveready has gained 6.01% and closed at Rs 57.35 per share.

Bharti Airtel’s African arm has set the issue price for the Airtel Malawi IPO. Airtel Africa Plc has its presence in 14 countries across Africa on Dec11, has said it would float its local business Airtel Malawi PLc subsidiary on the Malwai stock Exchange. The share price of Bharti Airtel declined 2.10% and closed at Rs 447.55 per share 

The Financial Resources and Management Committee of the Board of Directors of the Manappuram Finance approved the issuance of the Private placement of rated, secured, redeemable non-Convertable debentures having face value of Rs 10L each for the amount of Rs 350 crore. The share price of Mannapuram Finance has closed flat at Rs   172.60 per share.

GAIL is not in the process of hiving off pipeline business into a separate unit no received any directive in this regard. The share price of GAIL was down by 1.38%  and closed Rs 118.10 per share 

CRISL has downgraded GP petroleums from CRISL A2+ to A2. The GP petroleums declined 0.41% in BSE and gained 1.09% in NSE   and closed at Rs 36.95 per share in NSE today.

 

Crude and Rupee Updates

The crude oil is rising on the hopes of the US-China trade deal signing and OPEC output cut from January. The Brent Crude is trading at three months higher. The current Brent crude oil future price is trading at $ 67.44 it is 0.38% higher than the previous close. The Indian Rupee is closed at Rs 71.32 against the US dollar, it closed almost flat only 0,06% higher.

 

Conclusions:

The profit booking on the expiry day has dragged down the market today. The market corrected for the third consecutive day today. The metal stocks and crude are top gainers today on the hopes of US-China trade deal signing. Higher crude prices could depreciate the Indian Rupee further and correct the equity market. 

Traders can follow the Daily Nifty and Bank Nifty future for tomorrow.

 

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Happy Investing !!

 

Editor’s Desk