Bottom hunters gathered on Dalal Street on Tuesday after a sharp drop in the previous sessions, taking benchmark indices higher and helping them snap two-day losing streak. However, selling at high levels indicates that the overall trend remains weak in the market. The biggest concern as of now is the rapidly spreading Omicron variant of coronavirus. The uncertainty around its impact has made traders nervous. Further, foreign outflows have also continued to remain a reason for worry. The 30-share pack Sensex rose 497 points or 0.89 per cent to close at 56,319.01. The index closed nearly 600 points lower from day’s high. Its broader peer NSE Nifty advanced 156.65 points or 0.94 per cent to 16,770.85.

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Yes Bank says approved raising Of funds up to Rs 100 bn: Agencies

Price as on 21 Dec, 2021 06:41 PM, Click on company names for their live prices.

Rupee spurts 31 paise to nearly 2-week high against USD

At the interbank forex market, the domestic unit opened strong at 75.74 against the greenback and witnessed an intra-day high of 75.41 and a low of 75.74 during the day’s trade. It finally ended at 75.59 a dollar, the highest closing level since December 8. In the previous session, the rupee had settled at 75.90 against the US dollar. Aided by low crude prices, the local unit has appreciated by almost 1 per cent or 73 paise in the four sessions to Tuesday.

Axis Bank emerges as highest bidder for Citi consumer biz

Private sector Axis Bank has emerged as the highest bidder to buy Citi’s consumer banking business, according to sources. American banking major Citibank in April announced its plan to exit from the consumer banking business in India as part of a global strategy. The business comprises credit cards, retail banking, home loans and wealth management. The bank has 35 branches in the country and employs about 4,000 people in the consumer banking business.

The correction at the end clears that the sentiments are yet weak and expect further correction in coming days. Investors are advised to remain cautious and add quality stocks on dips. Traders need to keep strict stop loss.

– Rahul Sharma, Co-Owner, Equity 99

I do not think we should do too much macro betting. We should be very very micro, we must look at the company, we must look at the sector and then valuation and then go about doing it rather than trying to make a macro call.

– Raamdeo Agrawal

The updates on the new variant are keeping the choppiness high globally and we expect this trend to continue in the near future. Among the sectors, only the IT pack has been showing a steady uptrend while others are trading mixed. In case of a further rebound, Nifty would face a hurdle around the 17,000-17,150 zone. Participants should limit leveraged positions until we see some stability.

– Ajit Mishra, VP – Research, Religare Broking

Indian market is attempting to recover from yesterday’s heavy selloff, domestic indices staged a gap-up opening on bargain hunting supported by positive sentiments across global markets. Although concerns surrounding the impact of Omicron & FII selling still lingers, investors are trading cautiously and are optimistic. Gains in IT, commodities and metal stocks lifted the indices higher

– Vinod Nair, Head Of Research at Geojit Financial Services

Top 5 gainers & losers today

Price as on 21 Dec, 2021 03:36 PM, Click on company names for their live prices.

Sector Watch: PSU Bank only index that ends unchanged

Sector Watch: PSU Bank only index that ends unchanged

CLOSING BELL: Sensex ends 2-day losing run, gains 497 points; Nifty near 16,800; HCL Tech, Wipro gain 4% each

CLOSING BELL: Sensex ends 2-day losing run, gains 497 points; Nifty near 16,800; HCL Tech, Wipro gain 4% each

JM Financial initiates coverage on Nykaa with BUY rating

We initiate on Nykaa with a ‘BUY’ rating and Dec’22 TP of INR 2,480, projecting CAGR of 38%/86% for Nykaa in BPC/Fashion GMV over FY21-26, while expecting EBITDA margin to reach 15.4% (7.6% as % of GMV) in FY26. We value Nykaa using DCF valuation approach on a consolidated company basis with 10.5% cost of capital and 6.0% perpetuity growth rate. Key downside risks to our TP include 1) failure of Fashion business to ramp-up, 2) margin dilution due to expansion coming at the cost of premiumisation and lower spends per customer, and 3) a sharp rise in competitive intensity.

Top 5 movers at this hour

Price as on 21 Dec, 2021 03:17 PM, Click on company names for their live prices.

Nifty back below 16,800

Nifty back below 16,800

CSB Bank has been empanelled as agency bank by RBI

Price as on 21 Dec, 2021 02:08 PM, Click on company names for their live prices.

Sensex off day’s high

Sensex off day's high

Just In: Indian Oil Corp acquires 4.93% stake in Indian Gas Exchange

Price as on 21 Dec, 2021 01:36 PM, Click on company names for their live prices.

Raamdeo’s top themes for 2022

Foxconn plant in south India to stay shut this week

Apple supplier Foxconn’s plant near Chennai in southern India will remain shut this week following protests sparked by a food poisoning incident, government sources told Reuters on Tuesday. Five days of holiday have been declared at the plant, the Superintendent of Police in Kancheepuram said.

Zee-Sony Merger: 90-day period to conduct due diligence ends today

Price as on 21 Dec, 2021 01:27 PM, Click on company names for their live prices.

Exide to set up a green field multi-gigawatt Li-ion cell manufacturing facility in India

Price as on 21 Dec, 2021 01:19 PM, Click on company names for their live prices.

FII selling makes rupee Asia’s worst-performing emerging market currency

The Indian rupee is set to end a tumultuous year as Asia’s worst-performing emerging market currency with foreign funds fleeing the nation’s stocks. The currency declined 1.9% this quarter as global funds pulled $4.2 billion of capital out of the country’s stock market, the most among regional markets where data is available.Foreigners sold Indian stocks as Goldman Sachs Group Inc. and Nomura Holdings Inc. recently lowered their outlook for equities, citing lofty valuations, at a time when concerns about the omicron virus variant are roiling the global markets. Record-high trade deficit and the central bank’s policy divergence with the Federal Reserve have also impinged on the rupee’s carry appeal.

FII selling makes rupee Asia’s worst-performing emerging market currency

Oriental Insurance Co categorised as public shareholder in Axis Bank

Price as on 21 Dec, 2021 01:06 PM, Click on company names for their live prices.

FOREX ALERT: Rupee hits highest level since Dec 9

RIL weightage may go up in Sensex

RIL weightage may go up in Sensex

“Officer’s Choice” whiskey maker planning IPO at $2.5 billion valuation

The maker of “Officer’s Choice” whiskey has initiated talks with advisers and is seeking a valuation of at least $2.5 billion, the people said, asking not to be identified as the information is private. The company is planning to file preliminary documents as soon as the first quarter of 2022, the people said. No final decision has been reached regarding the valuation or timing of the potential IPO, and Allied Blenders could still decide against proceeding with the plan, they said. A representative for the company declined to comment.

“Officer’s Choice” whiskey maker planning IPO at $2.5 billion valuation

SBI acquires minority stake in JSW Cement for Rs 100 cr

Price as on 21 Dec, 2021 12:04 PM, Click on company names for their live prices.

All sectors gain; metal lead gainer

All sectors gain; metal lead gainer

Sensex surges 1,000 points, Nifty tops 16,900; all sectors gain

Sensex surges 1,000 points, Nifty tops 16,900; all sectors gain

Globus Spirits said expansion of the company’s unit located at Panagarh, Burdwan, West Bengal is complete as per schedule and the unit is now running at its enhanced capacity of 260 KLper day enhanced from 120 KL per day.

Price as on 21 Dec, 2021 11:50 AM, Click on company names for their live prices.

Omicron Impact!

Don’t buy the dip in market: Analysts

Having fallen 10% from the lifetime highs recorded in mid-October, technical analysts see the benchmark indices sinking further, with the Nifty likely to slide to its 200-day moving average level – a technical indicator which is read as a long-term trend indicator as it represents the average price over the last 200 days, that roughly equals the number of trading days in a year. The Nifty is currently 2.5% above its 200-DMA.

Omicron cases in India rise to 200: Health Ministry

Sensex extends gains, jumps 950 points

Sensex extends gains, jumps 950 points

Rupee gains 17 paise against US dollar in early trade

Rupee gains 17 paise against US dollar in early trade

Vedanta climbs 3% as firm acquires Goa-based Nicomet

Price as on 21 Dec, 2021 10:58 AM, Click on company names for their live prices.

IPO UPDATE: CMS Info Systems subscribed 14% so far

IPO UPDATE: CMS Info Systems subscribed 14% so far

Top 10 gainers in morning trade

Price as on 21 Dec, 2021 10:37 AM, Click on company names for their live prices.

SoftBank-backed Snapdeal files for IPO

SoftBank-backed Indian e-commerce platform Snapdeal filed for an initial public offering on Tuesday, joining dozens of firms in the country that have tapped the capital markets this year.Snapdeal’s IPO consists of a fresh issue of shares worth 12.5 billion rupees ($165.09 million) and an offer for sale of 30.8 million shares, according to its draft prospectus dated Dec. 20.

SoftBank-backed Snapdeal files for IPO

Larsen & Toubro International FZE, a wholly owned subsidiary of Larsen & Toubro, has entered into a Share Purchase Agreement to purchase, stake in Intelliflux Controls INC., a Delaware Corporation; stock up 1%

Price as on 21 Dec, 2021 10:01 AM, Click on company names for their live prices.

Jio adds 17.6 lakh mobile users in Oct; Airtel, VIL lose subscribers: TRAI data

Price as on 21 Dec, 2021 09:54 AM, Click on company names for their live prices.

NEW LISTING: Pre-open rates suggest 53% listing pop

NEW LISTING: Pre-open rates suggest 53% listing pop

Voda Idea, YES Bank among most active stocks on NSE

Price as on 21 Dec, 2021 09:42 AM, Click on company names for their live prices.

All sectors trade in the green

All sectors trade in the green

Top Sensex contributors in opening trade

Top Sensex contributors in opening trade

OPENING BELL: Sensex climbs 450 points, Nifty50 at 16,740; Wipro, Tata Steel rise 2% each

OPENING BELL: Sensex climbs 450 points, Nifty50 at 16,740; Wipro, Tata Steel rise 2% each

Pre-open session: Sensex jumps 500 points, Nifty above 16,750

SGX Nifty signals a positive start

Nifty futures on the Singapore Exchange traded 163 points, or 0.98 per cent, higher at 16,821, signaling that Dalal Street was headed for a positive start on Tuesday.

Tech View: Nifty’s recovery will be vulnerable to sell-off

The Nifty50 on Monday plunged over 2 per cent and broke its immediate support levels to come near overbought levels. Analysts said major support levels for the index lies near its 200-DMA. Recovery, if at all, would be vulnerable to sell-offs, they said. As long as the index remains below 16,800, any recovery would be sold into, says Chandan Taparia of Motilal Oswal Securities. He felt that further weakness could be seen towards 16,400 and 16,200 levels.

Dollar on back foot as treasury yields soften

The dollar hovered below recent highs on Tuesday having lost ground overnight after a blow to Democratic spending plans in Washington, but worries about the Omicron coronavirus variant kept risk currencies in check. The dollar index, which measures the currency against six major peers, was last at 96.513, having lost ground on both the euro and the yen.

Oil edges higher but investor worries on Omicron spread remain

Oil prices edged higher on Tuesday, though investors remained worried about the rapid spread of the Omicron coronavirus variant globally, prompting countries to consider more restrictions potentially denting fuel demand. Brent crude futures increased by 9 cents, or 0.1%, to $71.61 a barrel by 0105 GMT, while U.S. West Texas Intermediate (WTI) crude futures rose by 23 cents, or 0.3%, to $68.84 a barrel.

Hong Kong shares begin day with gains

Hong Kong stocks opened slightly higher Tuesday morning on bargain-buying after two days of hefty losses, though traders remain spooked over the fast-spreading Omicron virus variant. The Hang Seng Index edged up 0.22 percent, or 50.71 points, to 22,795.57. The Shanghai Composite Index slipped 0.06 percent, or 2.15 points, to 3,591.45, while the Shenzhen Composite Index on China’s second exchange also eased 0.06 percent, or 1.40 points, to 2,477.02.

Japan stocks open higher on bargain-hunting

Tokyo stocks opened higher on Tuesday with investors seeking bargains after a sharp fall in the previous session, shrugging off a rout on Wall Street. The benchmark Nikkei 225 index was up 1.45 percent or 404.69 points at 28,342.50 in early trade, while the broader Topix index was up 1.25 percent or 24.20 points at 1,965.53.

Rupee firms up 16 paise to 75.90 against dollar on easing crude prices

rupee notched up gains for a third straight session on Monday, rising further by 16 paise to settle at 75.90 (provisional) against the US dollar as easing crude oil prices revived an otherwise lacklustre sentiment. Massive sell-offs in domestic equities, sustained foreign fund outflows and concerns around Omicron variant of coronavirus were a host of factors restricting rupee gains, forex traders said.

Wall Street ends lower on Omicron, Biden spending plan setbacks

US stocks ended trading on Monday down by more than 1%, pressured lower by surging Omicron coronavirus cases and a possible fatal blow to a $1.75 trillion US domestic spending bill, with oil prices plunging. The Dow Jones Industrial Average closed 1.23% lower at 34,932.16, while the S&P 500 ended the day down 1.14% at 4,568.02. The Nasdaq Composite dropped 1.24% to 14,980.94.

Sensex, Nifty on Monday

Investors have lost a hefty Rs 11,45,267.43 crore in two days as the domestic equity market continued to face severe drubbing amid a global selloff. The BSE benchmark Sensex plunged 1,189.73 points or 2.09 per cent to close at 55,822.01 on Monday. During the day, it tanked 1,879.06 points to 55,132.68. The benchmark had tumbled 889.40 points or 1.54 per cent to close at 57,011.74 on Friday.

Good morning, dear reader! Here’s something to kickstart your trading day

Good morning, dear reader! Here's something to kickstart your trading day





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