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Economic Times | 08 Dec, 2022 | 11:46AM IST
Stock Market Live Updates: Sensex, Nifty trades flat as assembly election trends pour in; Dharmaj Crop jumps 12%, Sun Pharma cracks 3%
Benchmark equity indices Sensex and Nifty traded almost flat in morning trade on Thursday as gains from crude oil prices and select banking stocks were offset by losses in IT and FMCG shares amid assembly poll results in Himachal Pradesh and Gujarat. The 30-share BSE Sensex rose marginally by 28.87 points or 0.05 per cent to 62,439.55 in a choppy trade. As many as 16 of its components gained while 14 declined.The broader Nifty of the National Stock Exchange was marginally up 8.60 points or 0.05 per cent at 18,569.10 as 28 of its constituents advanced, 21 declined and 1 remained unchanged.Among major gainers, IndusInd Bank rose by 1 per cent, Axis Bank by 0.91 per cent and ICICI Bank by 0.95 per cent on BSE. SBI, Mahindra & Mahindra, L&T, Nestle, UltraTech Cement, Maruti and Reliance also advanced.
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Government aims to appoint a private sector professional as the first CEO of the Life Insurance Corporation of India (LIC) in an effort to modernise its largest insurer after a disappointing stock market debut: Agencies
Price as on 08 Dec, 2022 11:33 AM, Click on company names for their live prices.
Stocks in news: Venky's (India)
#StocksInFocus | Venky's (India): Biggest single day gain since June 22, 2021 Volume at ~30x 20-day avg trading vo… https://t.co/nZE8JYleOj
— ET NOW (@ETNOWlive) 1670477279000Stocks in news: L&T
#StocksInFocus | L&T: Hits fresh record high intraday Surpasses 3 lk cr Market Cap for the first time ever Trades… https://t.co/proCAprKMI
— ET NOW (@ETNOWlive) 1670477403000Inox GFL Group raises -Rs.1500 crore, takes a significant step towards achieving zero net debt.
Price as on 08 Dec, 2022 11:20 AM, Click on company names for their live prices.
Crypto Price Today: Bitcoin breaches $17k; Solana, Litecoin, Dogecoin drop up to 4%
The US senator behind one of the more important pieces of bipartisan crypto legislation in the works said bitcoin is the only cryptocurrency that can be considered a commodity because ether is now a security thanks to September's Ethereum Merge.
Oil rebounds after hitting 2022 lows, demand concerns cap gains: Agencies
Oil prices rebounded in Asian trade on Thursday after slumping to their lowest level this year in the previous session, though concerns of economic slowdowns weakening fuel demand continued to cap gains.Brent crude futures were up 70 cents or 0.9% at $77.87 per barrel by 0500 GMT, while U.S. West Texas Intermediate (WTI) crude futures gained 74 cents or 1.0% to $72.75 per barrel.Brent had settled on Wednesday below the year's previous closing low touched on the first day of 2022, while U.S. West Texas Intermediate crude had fallen to a fresh yearly low."It could be largely an attempt for prices to stabilise after the recent sharp sell-off, but an overall cautious environment could still be in place," Jun Rong Yeap, market strategist at IG, told Reuters on Thursday.
Macrotech Developers' promoters plan to raise Rs 3,500 cr via sale of shares to institutional investors
Price as on 08 Dec, 2022 10:40 AM, Click on company names for their live prices.
Sun Pharmaceuticals announced an update on Halol Facility that the USFDA has listed the facility under Import Alert. The Import Alert implies interalia, that all future shipments of products manufactured at this facility are subject to refusal of admission to the US market until the facility becomes compliant with cGMP standards.
Price as on 08 Dec, 2022 10:16 AM, Click on company names for their live prices.
Japan's Nikkei hits near one-month low on economic worries
Japan's Nikkei index on Thursday fell to its lowest in nearly one month, weighed down by Wall Street's weak finish on economic concerns as well as corporate earnings.The Nikkei share average fell 0.74% to 27,480.49 by the midday break, after hitting 27,415.66 — its lowest since Nov. 10.The broader Topix slipped 0.65% to 1,935.61.The S&P 500 and Nasdaq closed lower overnight after a choppy session on Wall Street, as investors struggled to grasp a clear direction as they weighed how the Federal Reserve's monetary policy tightening might feed through into corporate America.
Stocks in news: Dharmaj Crop Guard makes strong D-St debut, lists at 12% premium
Price as on 08 Dec, 2022 09:53 AM, Click on company names for their live prices.
EaseMyTrip to become the official travel partner for the First World Tennis League
Price as on 08 Dec, 2022 09:41 AM, Click on company names for their live prices.
JSW Steel's Crude Steel production for November ’22 grew by 16% YoY
Price as on 08 Dec, 2022 09:37 AM, Click on company names for their live prices.
Rupee rises 13 paise to 82.34 against US dollar in early trade
Upswings appeared feeble, and the overall construct with 18,500 or 18,360-100 as potential downside targets intactas long as the 18,620/660 congestion region remains intact. We would however wait for a rise above 18,840 to play the 19,400 run, or watch if bulls regroup on first dipinto the 18,500/480 region.
- Anand James - Chief Market Strategist at Geojit Financial Services
Even while reaffirming that “the Indian economy is doing well in a world of slowing growth and inflation fears” RBI Governor Saktikanta Das indicated that “the global spillovers are slowing down India’s economic momentum”. In this context the sharp dip in Brent crude below $78 has come as a shot in the arm of the economy. This has the potential to act as a fiscal stimulus for the economy while the monetary policy is tightening. Next week will be significant for global equity markets since we will have the US inflation print and the FOMC meet. The market is likely to consolidate around the current levels till then. The PSU banking space, particularly the leading names, is likely to continue to remain resilient. Capital goods stocks are showing strength.
- Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
Opening Movers
Price as on 08 Dec, 2022 09:24 AM, Click on company names for their live prices.
Triveni Engineering has 9.8% of equity change hands in four bunches
#MarketsWithETNOW | Triveni Engineering has 9.8% of equity change hands in four bunches #StockMarket… https://t.co/LzrGua5OQt
— ET NOW (@ETNOWlive) 1670471406000Opening Bell: Sensex, Nifty start flat as assembly election trends pour in; BLS Intl, Lumax India surge 5% each, L&T up 1%
Rupee Opens
Rupee opens at 82.34 against US dollar
Market pre-open: Sensex, Nifty flat
Asian stocks mixed
Asian equities were mixed on Thursday as growing fears of an economic slowdown and worries over the pace of the Federal Reserve's interest rate hikes weighed on sentiment.
Oil prices steady after hitting 2022 lows
Oil prices steadied in early Asian trade on Thursday after sinking to their lowest level this year as U.S. production and gasoline inventories ticked up at the same time concerns grew that economic slowdowns would weaken fuel demand.
SGX Nifty signals a muted start
Nifty futures on the Singapore Exchange traded 15 points, or 0.08 per cent, lower at 18,656.50, signaling that Dalal Street was headed for a muted start on Thursday.
Tech View: Nifty forms small red candle on charts.
Headline equity index Nifty on Wednesday formed a small bearish candle on the daily scale, which is broadly negative. The index has been making lower lows from the last four sessions and needs to negate to commence the fresh leg of the rally.
Tokyo shares open lower after US losses
Tokyo stocks opened lower on Thursday, tracking falls of tech shares on Wall Street, while a stronger yen weighed on the market. The benchmark Nikkei 225 index fell 0.23 percent, or 64.10 points, to 27,622.30 at the open, while the broader Topix index lost 0.28 percent, or 5.41 points, to 1,942.90.
S&P, Nasdaq extend losing streaks amid rising recession worries
The S&P 500 and Nasdaq closed down on Wednesday after a choppy session on Wall Street, as investors struggled to grasp a clear direction as they weighed how the Federal Reserve's monetary policy tightening might feed through into corporate America.
Rupee gains 3 paise to 82.47 against US dollar
The rupee pared initial losses and settled marginally higher at 82.47 against the US dollar on Wednesday after the Reserve Bank of India (RBI) hiked the repo rate by 35 basis points.
Sensex, Nifty on Wednesday
Following RBI's 35 basis point rate hike and hawkish stance to bring inflation down, Sensex ended 216 points lower while the Nifty ended below 18,600 mark. Global cues weren't supportive of bulls either. Today's was the third straight day of losses for the Nifty.
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