Sensex Today: Live Stock Market Updates: Sensex Gains 300 Points, Nifty50 Approaches 17,200; RBL Bank gains 3%; Supriya Lifesciences to register today
Watch this space as we bring you LIVE updates from the day from Dalal Street.
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Mega Bull Cycle on the Anvil: ICICIDirect Research
Indian stocks are in the initial phase of a multi-year structural bull market after last year’s resolute breakout above 2018 highs of 12,400. Based on the three-decade history, we would expect what the current bull market extends over the next several years with multiple gains. Our Nifty target for CY22 is 21000 based on a classic chart reading and an ascending prognosis of the Nifty constituents, where strong support exists in the 15500 area. While the midcap space is expected to extend its outperformance, we we expect IT to lead the rally supported by cyclical stocks like capital goods, BFSI, real estate and autos
This small cap jumps 5% as Ashish Kacholia increases its stake in the company
Shares of Sastasundar Ventures jumped 5% at the start of trading on Tuesday after veteran investor Ashish Kacholia bought 225,000 shares of Sastasundar Ventures at Rs 447 each in a wholesale deal on the National Stock Exchange. The meter peaked at Rs 466.85 from the previous close of Rs 444.65 on the National Stock Exchange.
Over the past 3 to 5 years, the API and Specialty Chemicals industry has been the darling of investors, and we believe this trend will continue for several years. Due to decent investor participation, the IPO started at Rs 421 against the issue price of Rs 274, a premium of 53%. Over the long term, investors are expected to hold the stocks while those who have requested quote gains can maintain a stop loss of Rs 380 on a close basis. New investors may also look for buying opportunities in the dips.
– Santosh Meena, Research Manager, Swastika Investmart on the early days of Supriya Lifesciences
Telecommunications operator Bharti Airtel and IT leader Tata Consultancy Services (TCS) have teamed up to create 5G-based remote working technology using robotics, sources said.
Price as of Dec. 2021 10:06Click on the names of the companies for their live prices.
REITs put more money into Indian bonds than stocks
This year marked the ‘coming of age’ for the average Indian saver, with Nifty’s ascent beyond Mount 18K towering above the waves and columns. But what has gone virtually unnoticed is that foreign funds, which hold the bulk of Indian stocks, quietly bought more local debt than stocks in a record-breaking year – from IPO products, unicorn valuations or SIPs.
REGISTRATION ALERT: Supriya Lifesciences will be listed at over 55% premium
2022 will be a stock picking market, as index-level returns are likely to be modest, while particular segments and individual stocks have the potential to generate alpha. Leading indicators point to a smart recovery in construction. This bodes well for cement, paints, adhesives, pipes, tiles and plumbing fixtures. The housing finance majors have more room for improvement. If markets remain resilient globally, FIIs may be forced to change their sales strategy in early 2022. Soon, markets will begin to react to third quarter results. The results of IT, financials, especially major banks, construction-related segments and telecommunications will be good and some could exceed expectations, triggering a further rise in prices.
– Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services
RBL Bank bounces back from Monday’s beating
Price as of Dec. 2021 09:41Click on the names of the companies for their live prices.
Sector watch: all indices are trading in the green
Most active actions on NSE when trade opens
Price as of Dec. 2021 09:21Click on the names of the companies for their live prices.
OPENING BELL: Sensex gains 300 points, Nifty50 approaches 17,200; MTNL gathers 10%, HCC 5%
Pre-open session: Sensex wins 300 points, Nifty50 above 17,100
Supriya Lifescience debuts in the market
Supriya Lifescience, a stock maker of active pharmaceutical ingredients, will go public on Tuesday. Brokers active in the unofficial unlisted equity market said shares of Supriya Lifescience were previously trading at a premium of Rs 137-150.
SGX Nifty signs a positive start
Shrewd futures on the Singapore Stock Exchange traded 80.5 points, or 0.47%, up to 17,186.50, signaling that Dalal Street was heading for a positive start on Tuesday.
Tech View: Nifty50 sends buy signal on MACD
The Nifty50 recovered to the 17,000 level on Monday in style and, in the process, formed a bullish candle on the daily chart. The candle had a long lower wick, reflecting the rebound in the index from the morning low. The NSE barometer has sent a buy signal on the MACD momentum indicator, with analysts suggesting that levels of 17,350 to 17,450 cannot be ruled out in the coming days.
Asian stocks mixed in early trade
Asian stocks opened mixed on Tuesday, with markets like Japan and Korea rising following overnight gains on Wall Street, but mainland China and Hong Kong stocks mostly trading flat to begin with. Exchanges. The MSCI Asia-Pacific ex-Japan equity index was also almost stable. Japan’s Nikkei added 0.40% South Korea’s Kospi gained 0.13%. China’s Shanghai Comp lost 0.07%. Hong Kong’s Hang Seng fell 0.30%.
Dollar languishes as Omicron worries about ebb
The US dollar, also seen as a safe haven, continued to languish towards the bottom of its recent trading range against a peer basket, even after a hawkish tilt by the Federal Reserve that prompted policymakers to signal a three-quarter point interest rate. increases next year. The dollar index was little changed at 96.076.
S & P500 hits new record
Wall Street made steady gains on Monday, enough to set a new high for the S & P500 index. Trading was muted as investors returned from the Christmas holidays and several foreign markets remained closed. The Dow Jones rose 1% to 36,302.38. The S & P500 Index rose 1.4% to 4,791.19. The Nasdaq Composite Index rose 1.4% to 15,871.26.
REITs sell shares worth Rs 1,038 crore
Net-net, foreign portfolio investors (REITs) turned sellers of domestic stocks to the tune of Rs 1,038.25 crore, according to data available from NSE. The DII were net buyers to the tune of Rs 955.75 crore, the data suggests.
Rupee hits nearly 4-week high at 75 against the dollar
Up for the eighth consecutive session, the rupee appreciated 3 paise on Monday to reach a nearly four-week high at 75 against the US dollar amid a strong trend in domestic stocks and growing appetite for assets more risky. However, a strong US dollar abroad and firm crude oil prices limited the rupee’s rise. In the interbank forex market, the local unit opened at 75.15 against the greenback and saw an intraday high of 74.95 and a low of 75.16.
Sensex, Nifty50 Monday
The benchmark Sensex stock index rose nearly 296 points on Monday following gains in IT, financials and pharmaceuticals stocks amid a largely positive trend in global markets. After rebounding more than 960 points from the day’s low during the session, the 30-stock index stood at 295.93 points, or 0.52% more, at 57,420, 24. The broad based Nifty recovered 82.50 points or 0.49% to close at 17,086.25 with 40 of its constituents advancing.