Barring Nifty PSU Bank index, all the Nifty sectoral indices ended in the green today.Share Market News Today | Sensex, Nifty, Share Prices HIGHLIGHTS: Domestic equity market benchmarks BSE Sensex and Nifty 50 ended at record closing highs on Wednesday. BSE Sensex jumped 403 points or 0.87 per cent to end at 46,666, while the broader Nifty 50 index surged 115 points or 0.85 per cent to settle at 13,683. Out of 30 Sensex stocks, 21 scrips settled in the positive territory, while others with losses. Housing Development Finance Corporation (HDFC) was the top Sensex gainer, followed by ONGC, Bharti Airtel, Titan Company, Asian Paints, M&M, TCS, HDFC Bank and Infosys. On the contrary, ICICI Bank, IndusInd Bank, NTPC, Tech Mahindra, HCL Tech, State Bank of India (SBI) and Axis Bank were among the losers. Barring Nifty PSU Bank index, all the Nifty sectoral indices ended in the green today.
Highlights
The Nifty is at the upper end of the resistance range of 13400-13700. We should be watchful here - traders should consider booking profits at these levels and upgrade the stops too. If we can get past 13700 on a closing basis, we could see a renewed rally up: Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments
The market breakout above the Nifty 50 Index level of 13600. The market's short-term technical condition shows an upward shift in the prevailing market range, and it is likely to range between 13550 and 13780. It has observed, that the market breadth to improve further along with other momentum indicators like RSI, MACD, indicating an uptrend. We expect the market to gain momentum, leading to an upside projection till the 13780 levels: Ashis Biswas, Head of Technical, CapitalVia Global Research Limited
BSE Sensex jumped 403 points or 0.87 per cent to end at 46,666, while the broader Nifty 50 index surged 115 points or 0.85 per cent to settle at 13,683
Burger King has been the most successful IPO of 2020, but investors should not be over-excited for Mrs Bectors Food IPO. The IPO has potential to provide for decent listing gains, but it has also good prospects for long term as well. Hence, investors should not make a decision in hurry. What I really like about this company is its strong distribution network. Plus, it exports products under its own brand name and third-party private labels to 64 countries all over the world: Gaurav Garg, Head Research, CapitaVia Global Research Limited
Mrs Bectors Food Specialities shares were trading strong in the grey market on Wednesday. The Rs 540-crore IPO is witnessing a strong response from the investors, especially retail investors and employees, which subscribed 12.05 times and 11.53 times, respectively, so far on the second day of the bidding process. Today, Mrs Bectors Food Specialities shares were seen trading at Rs 488 apiece, up Rs 200 or 70 per cent from the issue price of Rs 288 apiece.
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MSMEs in India account for 11 crore jobs and 29 per cent of the country’s GDP. In 2021, restoring MSMEs’ economic momentum will be integral to giving the real GDP growth rate a big push. MSMEs will need to explore sales and distribution opportunities and find new ways for business expansion. MSMEs will also have to rethink market penetration and customer outreach. Most importantly they will need access to easy and low-cost credit.
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The Nifty is edging slowly and steadily towards the upper end of the index range which is between 13400-13700. A serious move can be expected only post 13700 or if we break 13400 on a closing basis. A good support for this market lies at 13400: Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments
Burger King IPO has witnessed a dream run since its listing on the exchange, and it has made its investors richer, laughing all the way to the bank. For long-term investors, this a stock that they can look at holding, however those who are short-term traders, they should look at booking profits as well. The stock has almost given 200% return from its issue price. And going forward, the company is looking at increasing its market share by spreading its presence Pan-India through new stores, which is a plus: Aamar Deo Singh, Head Advisory at Angel Broking
A report by Refinitiv, formerly the Financial & Risk Business of Thomson Reuters, M&A activities in India remained considerably subdued in India in H1, 2020. The covid-19 pandemic not only sent shockwaves across global economies but also has undoubtedly caused large-scale dislocations to the Indian economy. An extended covid-9 induced lockdown resulted in the loss of productivity and revenue across varied industries.
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Technically Gold price confirmed breaching $1850.00 level after closing the daily candlestick above it, to reinforce the expectations of continuing the bullish trend efficiently in the upcoming sessions, paving the way to head towards our next positive station at $1875.00, noting that breaching this level will push the price to $1920.00 – $1928.60 levels. Therefore, the bullish trend scenario will remain suggested on the intraday and short term basis, noting that holding above $1820.00 is important to continue the expected rise: Ajay Kedia, directors, Kedia Commodities
Rupee has remained quite stubborn against appreciation off late due to RBI’s aggressive intervention in curbing the strength amid lumpy inflows hitting the domestic equity markets. If RBI gets lenient in the intervention, we might see strength inn rupee on an immediate basis which will likely be capped at 73.00 levels. However, if RBI remains active as evident, then the pair can bounce back close to 73.70-73.80 levels. It is suggested to hold for initial trading hour to gauge the price action in rupee. None-the less, it is advisable to sell on upticks above 73.80-74.00 levels as in the near term, the overall pressure in on the stronger side given by inflows and dollar weakness: Amit Pabari, managing director CR Forex Advisors
Burger King India share price hit 20 per cent upper circuit of Rs 199.25 apiece on BSE today. Earlier this week, Burger King India shares made market debut and listed at 92 per cent premium from issue price. Since then, Burger King stock has zoomed further 73 per cent. With today’s 20 per cent gain in the stock price, Burger King India’s share price has now skyrocketed 232 per cent from the IPO price of Rs 60 apiece. Analysts advise to keep booking the profit in the stock.
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Punjab National Bank share price tanked 7 per cent today after the PSU lender launched its QIP worth Rs 7,000 crore at a floor price of Rs 37.35 per share.
Check live prices: Punjab National Bank
HCL Technologies was the top Sensex laggard, down 0.3 per cent, followed by Bharti Airtel, Hindustan Unilever Ltd (HUL).
Out of 30 Sensex stocks, 28 stocks were trading in the green. M&M, ONGC, Bajaj Finance, Asian Paints, Bajaj Finsv, Tata Steel, HDFC and HDFC Bank were among top gainers.
Mahindra & Mahindra was the top Sensex gainer a day after the company announced that effective January 1, 2021, the company will increase the price of its range of passenger and commercial vehicles, across models.
Check live prices: Mahindra & Mahindra
BSE Sensex jumped 300 points to trade at 46,563, while the broader Nifty 50 index gained 65 points to rule at 13,654 to scale new record highs on Wednesday.
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A meeting of the Board of Directors of the Company will be held on Tuesday and Wednesday, January 12 and 13, 2021 inter alia to approve and take on record the audited consolidated financial results of the Company and its subsidiaries as per Indian Accounting Standards (INDAS) for the quarter and nine months ending December 31, 2020; and approve and take on record the audited standalone financial results of the Company as per INDAS for the quarter and nine months ending December 31, 2020. (BSE filing)
BSE Sensex jumped 308 points to trade at 46,571 to scale new record high in pre-opening session on Wednesday
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COMEX gold trades higher near $1860/oz after a 1.3% gain yesterday. Supporting gold price is US policymakers efforts to finalize a stimulus deal, hopes of loose monetary policy stance of central banks, Brexit uncertainty and rising virus cases. However, weighing on price is continuing ETF outflows and progress on the vaccine front. Gold has bounced back from recent lows but a sharp rise is unlikely unless US stimulus deal is finalized or unless we see pick up in ETF buying: Ravindra Rao, VP- Head Commodity Research at Kotak Securities
MSCI Inc said on Tuesday it will delete the securities of 7 Chinese companies from some global indexes after the U.S. imposed restrictions on their purchase, even as it said it would also launch new versions of several indexes that retain the same securities. (Reuters)
On Tuesday, foreign institutional investors (FIIs) net bought shares worth Rs 2,484.09 crore, whereas domestic institutional investors (DIIs) net sold shares worth Rs 2,666.79 crore in the Indian equity market, according to the provisional data available on the NSE.
HDFC: Housing Development Finance Corporation Ltd to raise up to Rs 5,000 crore via February 2022 NCDs at 4.23 per cent per annum coupon rate.Punjab National Bank: PNB has set the floor price for its proposed QIP of Rs 7,000 crore at Rs 37.35 per share.
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International oil prices have started flat this Wednesday morning in Asian trade as investors await inventory data. Official government data is scheduled for tonight. Technically, WTI Crude Oil is trading on a flat note but remained above $47.00 levels which could support further upside rally towards $48.15-$48.60 levels. Support is at $47.30-$46.40 levels. Domestic crude could start flat this Wednesday morning, tracking international prices. Technically, MCX Crude December bounced back from 3430 levels where it ended with more than 1.5% gains. Resistance is at 3515-3560 levels. Support is at 3450-3395 levels: Sriram Iyer, Senior Research Analyst at Reliance Securities
We upgrade our rating on Karur Vysya Bank (KVB) to ‘buy’ on improving visibility on RoA recovery, continuity of strategic initiatives even after management change and favourable risk-reward. We see a retracement of valuation to 1x (~15% lower than 5 year average multiple) on likely ~60bps RoA improvement over FY21E-FY22E to 0.9%.
ICICI Securities
The futures and options segment on Tuesday saw a turnover worth Rs 21.05 lakh crore and the cash market saw a turnover worth Rs 61795.8 crore. This is against the six month average of Rs 21.7 lakh crore in the futures and options segment as well as Rs 59,316 crore in the cash market segment.
Finance minister Nirmala Sitharaman on Tuesday asserted that the Budget for FY22 will be “vibrant” enough to sustain economic revival in the aftermath of Covid-19 disruption. Public capital expenditure will be stepped up and the disinvestment programme will “gain momentum” from now on, she stressed. Emphasis has also been laid on state-run banks raising capital from the market, she added.
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On the first day of the three-day subscription window, Mrs Bectors Food has already been subscribed 3.49 times. Retail investors have bid for their portion 6.44 times while employees of Mrs Bectors have bid for 277% of their portion of the issue. Non-institutional Investors bid for 1.25 times their portion while QIBs were non-existent on the initial day of subscription.
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Indian equities ended flat on Tuesday. The Sensex rose 9.71 points (0.02%) to close at 46263.17, whereas Nifty rose 9.7 points (0.07%) to close at 13,567.85. Even as Asian markets ended in the red, domestic equities held up after the strong opening in the European markets. The Asian markets remained under pressure with bourses in countries such as South Korea, Hong Kong and Taiwan declining between 0.19% and 1%.
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