Share Market Highlights: Nifty settled above 20,950, Sensex over 69,900; Metal and Media stocks shine

Share Market News Today | Sensex, Nifty, Share Prices Highlights: The benchmark equity indices ended Monday’s trading session in the positive territory. The NSE Nifty 50 gained 27.70 points or 0.13% to settle at 20,997.10, while the BSE Sensex jumped 102.93 points or 0.15% to 69,928.53. The broader indices ended in positive territory, with gain led by Smallcap and Midcap stocks. Bank Nifty index ended slight higher by 52.25 points or 0.06% to settle at 47,314.25. Media and Metal stocks outperformed among the other sectoral indices while Pharma and Healthcare stocks shed. UltraTech Cement, UPL, Adani Enterprises, Nestle India and Power Grid Cooperation were the top gainers on the NSE Nifty 50, while the laggards include Dr Reddy’s Labs, Axis Bank, Cipla, Eicher Motors and Mahindra & Mahindra. The Indian Volatility Index (India VIX) closed up by 2.30 %.

(Source: NSE)

13:03 (IST) 11 Dec 2023 PSU Bank index zooms

The Nifty PSU Bank index surged 1.38% to 5,555.20, with gains led by Bank of India at 3.76% and Central Bank of India with gains of 2.66% during intraday trading on Monday.

12:26 (IST) 11 Dec 2023 Geekay Wires shares plung

The stock price of Geekay Wires tanked 5.01% to Rs 84.45 on the news that M/S.NNV&ASSOCIATES resigned from the post of Internal Auditor. The Audit Committee and Board of Directors of the Company have appointed M/s S Jhunjhunwala & Co., Cost Accountants with FRN004101, as Internal Auditors of the Company for the Financial Year 2023-24 at their meeting held today, i.e., Monday, December 11, 2023.

11:55 (IST) 11 Dec 2023 Top Gainers

Adani Enterprises, ONGC, UltraTech Cement, UPL, and Adani Ports are leading the gains on the NSE Nifty 50.

11:38 (IST) 11 Dec 2023 TCS Buy-Back Retail Acceptance Ratio 35%

TCS’s buyback had a retail acceptance ratio of 35%, indicating that 19 out of 54 offered shares were accepted, a favorable improvement from the previous buyback’s 15% acceptance ratio.

11:03 (IST) 11 Dec 2023 DCB Bank share up by 3%

DCB Bank shares gain more than 3% making a high of Rs 126.85 per share after the following news that the board approves ₹83 crore fund infusion from its promoter.

10:56 (IST) 11 Dec 2023 Paytm shares zoom

The stock price of One 97 Communications (Paytm) soared 2.41% to Rs 667 following the news that the company planning to invest approximately Rs 100 crore in Gujarat International Finance Tec-City (GIFT City) for the development of a Global Payment Development Centre. With its presence in GIFT City, Paytm also aims to grab the opportunity to be a participant in the growing fintech ecosystem boom based out of here.

10:43 (IST) 11 Dec 2023 Markets so far

(Source: NSE)

10:29 (IST) 11 Dec 2023 Benchmark indices hit another high

The NSE Nifty 50 advanced 0.27% to hit a fresh high of 21,026.10, while the Sensex jumped 232.23 points to reach a record high of 70,057.83.

10:12 (IST) 11 Dec 2023 Swan Energy shares soar

The stock price of Swan Energy surged by 3.33% to Rs 480.80 following the news that the company, which is also the successful resolution applicant for Reliance Naval and Engineering (RNEL), has received approval from the bankruptcy court to reconstitute the latter’s board. This development paves the way for the formal takeover of RNEL by Swan Energy.

09:45 (IST) 11 Dec 2023 Tata Motors in focus

Tata Motors will increase the prices of its commercial vehicles effective January 2024, by up to 3%. The price hike aims to counterbalance the lingering effects of previous input cost fluctuations and will be applicable across the entire spectrum of commercial vehicles offered by the company.

09:35 (IST) 11 Dec 2023 Early Gainers

Coal India, ONGC, IndusInd Bank, UPL, and UltraTech Cement are leading the gains on the NSE Nifty 50 during early trading on Monday.

09:29 (IST) 11 Dec 2023 Sensex, Nifty at record high

The NSE Nifty 50 advanced 0.24% to hit a fresh high of 21,019.80, while the Sensex jumped 223.30 points to reach a record high of 70,048.90 during early trading on Monday.

09:24 (IST) 11 Dec 2023 USD-INR

“The USD/INR 27th December futures contract has been consolidating within a narrow range for an extended period. Upon analyzing the weekly technical chart, it is evident that the pair is currently trading above its moving average trend-line support level of 83.22, and the Relative Strength Index (RSI) remains above the 60 level. Despite the bullish indicators, there are signs of caution in the technical setup. The MACD is displaying a negative divergence, suggesting a potential weakening of the current trend. The pair seems to be stuck within a range, reflecting indecision in the market. According to the weekly technical chart, the pair has a support zone between 83.22 and 82.92, while resistance is established at 83.60-83.85. Given the prevailing tight range, it is anticipated that the pair may continue to trade within the confines of 83.15-83.70 during today’s session,” said Rahul Kalantri, VP Commodities, Mehta Equities.

09:23 (IST) 11 Dec 2023 Derivative outlook

“Nifty weekly contract has highest open interest at 21000 for Calls and 20000 for Puts while monthly contracts have highest open interest at 21000 for Calls and 19000 for Puts. Highest new OI addition was seen at 22000 for Calls and 20300 for Puts in weekly and at 21300 for Calls and 20300 for Puts in monthly contracts. FIIs increased their future index long position holdings by 1.75%, decreased future index shorts by 2.05% and in index options by 26.25% increase in Call longs, 29.64% increase in Call short, 27.14% increase in Put longs and 25.52% increase in Put shorts,” said Anand James, Chief Market Strategist at Geojit Financial Services.

09:19 (IST) 11 Dec 2023 Markets at open

The NSE Nifty 50 opened flat at 20965.3 down 4 points, while BSE Sensex opened at 69,925.63 up 100.3 points.

09:05 (IST) 11 Dec 2023 Broader View

“Global and domestic cues favour continuation of the ongoing rally in the market despite high valuations. FIIs turning buyers, strong DII inflows, exuberant retail investors and a thriving IPO market supported by strong economic fundamentals can sustain the rally in the short run ignoring the high valuations. The overarching message from the RBI on Wednesday was that 7percent GDP growth for FY 24 is a conservative estimate. This is an indication of the growth momentum in the economy. A significant trend in the market is the outperformance of the Bank Nifty over the Nifty. Last week while the Nifty appreciated by 3.5 percent, Bank Nifty shot up by 5.5 percent. This outperformance is likely to continue, given the fair valuations of banking stocks, particularly the leading names. For the overall market safety is now in large caps,” said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

08:39 (IST) 11 Dec 2023 Market Outlook

“In Friday’s trading, the Nifty displayed a significant surge in bullish momentum, marking the early commencement of the “Santa rally” as it breached the unprecedented 21,000 level, reaching a historic high at 21,006. Despite market fluctuations, the Nifty remains the standout bullish performer. Analysis suggests that the recent FOMO-driven activity in the Nifty is poised to sustain positive momentum on Dalal Street, fueled by factors such as BJP’s success, a decline in WTI Oil prices, and optimism about the Federal Reserve’s monetary policy. All eyes are on the upcoming US Consumer Price Index (CPI) data for November. Nifty bulls are anticipated to explore new territories, and the recommended trades include buying Nifty in the 20,850-20,900 zone and Bank Nifty at the current market price, along with bullish perspectives on specific stocks like Coforge, Polycab India, L&T Technology Services, SBI, Tata Consumer, and PNB. The top stock to consider is Polycab India, with a buy at CMP 5447, stop at 5327, and targets at 5507/5615, with aggressive targets at 5751, based on its momentum play in the inter-week strategy,” said Prashanth Tapse, Senior VP (Research), Mehta Equities.

08:27 (IST) 11 Dec 2023 FII, DII Data

Foreign institutional investors (FII) purchased shares worth net Rs 3,632.30 crore, while domestic institutional investors (DII) sold shares worth net Rs 434.02 crore on December 8, 2023, according to the provisional data available on the NSE.

08:27 (IST) 11 Dec 2023 Crude Oil

WTI crude prices are trading at $71.39 up 0.22%, while Brent crude prices are trading at $76.12 up 0.44%, on Monday morning.

08:26 (IST) 11 Dec 2023 Wall Street

US stocks closed higher on Friday, with the S&P 500 and Nasdaq notching their highest closing levels since early 2022 after a robust US jobs report fueled investor optimism about a soft landing for the economy, reported Reuters. The tech-heavy Nasdaq Composite advanced 0.45% to settle at 14,403.97 and the S&P 500 climbed 0.41% to 4,604.37. The Dow Jones Industrial Average added 0.36% to end the session at 36,247.87.