Closing Bell
Indian equity markets ended higher for the third straight day, ending the truncated week on a positive note.
The S&P BSE Sensex ended 1.1% higher at 46,973. The index recovered all of Monday's loss to end higher on a weekly basis by 13 points. This is the eighth straight weekly gain for the index. The last instance of the Sensex gaining for eight straight weeks was between December 2017-January 2018.
The NSE Nifty 50 index also ended 1.1% higher at 13,749. However, it fell short of a weekly gain by 11 points resulting in its first weekly loss since October.
Among the sectoral indices, the Nifty Bank was the top performer, ending 1.7% higher and above the mark of 30,000. The other index that did well in today's session was the Nifty Pharma, which ended with gains of 1.2%.
The PSU Bank index ended with gains of 0.6% while the Auto index saw gains of 0.5%.
Broader markets were mixed in today's session. The Midcap index ended with gains of 0.2% while the Smallcap index rose 0.9%.
1,090 stocks on the NSE ended with gains while 795 stocks declined.
Decoding The Markets This Week
Buzzing Stock: Whirlpool of India
- Top gainer on the Nifty Midcap index
- Trades at a record high
- Gains as much as 12% to Rs 2,534
- Biggest single-day gain since November 2014
- Up for the third straight day
- Today's volumes are eight times its 20-day average
- Stock in overbought territory with Relative Strength Index (RSI) at 76
- Four out of the 12 analysts tracking the stock have a buy recommendation; six sell calls
- The stock is trading 24% higher than its 12-month Bloomberg consensus price target of Rs 1,920.1
In Focus: Aurobindo Pharma
Changing Consumer Behaviour
Markets At 2:10 P.M.
- Benchmark indices trade near the day's high; nearly pare all of Monday's losses
- Nifty up 0.9% at 13,720
- Sensex up 0.9% at 46,856
- Nifty Bank up 2% at 30,468
- Nifty Midcap index up 0.3%
- Nifty Smallcap index up 0.9%
- India Volatility Index down 2.7% to 19.9
- Nifty PSU Bank index is the other major gainer; up 1.3%
- Other sectoral indices like Nifty Metal, Nifty Pharma up 0.6% each
- Nifty I.T. is the top sectoral laggard; down 0.8%
- Tata Motors is the top Nifty gainer; up 3.7%
- Infosys remains the top Nifty laggard; down 1.6%
- 1,137 stocks on the NSE trade with gains while 717 decline
Active Stock Options
- Bharti Airtel's 520 Call: Premium up 40.5% to Rs 9.2. The contract has added 13.9 lakh shares in Open Interest.
- Hindustan Unilever's 2,400 Call: Premium up 16% to Rs 27.1. The contract has added 1.5 lakh shares in Open Interest.
- Vedanta's 170 Call: Premium up 207.7% to Rs 2. The contract has added 39 lakh shares in Open Interest.
I.T. Stocks Drag
In Focus: Tata Motors
A Strong Debut
In Focus: Borosil Renewables
Third Day Of Gains For PSU Bank Index
Markets At Noon
- Benchmark indices see resistance at higher levels but hold on to gains
- Nifty up 0.46% at 13,664
- Sensex up 0.46% at 46,655
- Nifty Bank up 1.6% at 30,358
- Nifty Midcap index up 0.3%
- Nifty Smallcap index up 0.8%
- India Volatility Index down 0.6% to 20.4
- Nifty PSU Bank index up 1.4% while Metal index is off the day's high; up 1%
- Nifty I.T. is the top sectoral laggard; down 1.2%
- Nifty Auto, Nifty Pharma trade little changed
- ONGC is the top Nifty gainer; up 4%
- Infosys remains the top Nifty laggard; down 2%
- 1,022 stocks on the NSE trade with gains while 785 stocks decline
In Focus: Vedanta
In Focus: ACC & Ambuja
In Focus: Tata Motors
Third Day Of Gains For The Nifty Bank
In Focus: Pidilite
In Focus: Bharat Forge
Markets At 10:10 A.M.
- Benchmark indices further trim weekly losses; trade near day's high
- Nifty up 0.8% at 13,706
- Sensex up 0.7% at 46,788
- Nifty Bank up 1.4% at 30,306
- Nifty Midcap index up 0.9%
- Nifty Smallcap index up 1.3%
- India Volatility Index down 1.1% to 20.3
- Nifty Metal is the top sectoral gainer; up 2.5%
- Nifty PSU Bank index is the other major gainer; up 1.8%
- Nifty Media and Nifty Auto up 1.3% each while the realty index gains 1.1%
- Tata Motors is the top Nifty gainer; up 4.7%
- 41 out of the 50 Nifty constituents advance
- Infosys is the top Nifty laggard; down 1.1%
- 1,408 stocks on the NSE trade with gains while 342 decline
In Focus: Bharti Airtel
A 'Trash' Value Rally?
Opening Bell
Indian equity markets have opened higher for the third straight day and have nearly recovered all of the losses on Monday, heading into the holiday weekend.
The S&P BSE Sensex opened 0.64% higher at 46,743 while the NSE Nifty 50 index opened with gains of 0.52% at 13,672.
As of closing on Wednesday, both Sensex and Nifty were down 1% for this truncated week.
Among the sectoral indices, the Nifty Media index is up 1.5% while the PSU Bank index has opened with gains of 1%.
Other indices like the Nifty Bank, Nifty FMCG are up 0.6% each, while the Metal index has opened with gains of 0.8%.
Broader markets too have opened higher, mostly in-line with the benchmark indices. The Nifty Midcap index is up 0.75% while the Smallcap index gained 0.6% in the early minutes of trade.
1,629 stocks on the NSE have opened with gains while 318 stocks are declining.
Current Market Update
Final Trading Day Of The Truncated Week
Good Morning!
Indian equity markets gained for the second straight session, recouping most of the losses from their biggest intra-day drop in seven months on Monday.
So far this week, curtailed by the Christmas holiday, the Sensex and Nifty 50 are down 1%. Losses in Thursday’s session would snap their seven straight weekly gaining streak. But in case of an advance, that would be the first time Nifty gains for eight weeks in a row since December 2017-January 2018. Futures are indicating a positive bias to today’s trade.
The Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, rose 0.26% to 13,663 as of 8:00 a.m.
SAIL and Sun TV are out of the F&O ban for today’s weekly options expiry session, while Canara Bank and Punjab National Bank remain.
Globally, most Asian markets are advancing this morning ahead of the Christmas holiday period.
Futures on the Dow Jones are up 60 points currently. The index ended 0.4% higher on Wednesday.
West Texas Intermediate crude rose 0.2% to $48.18 per barrel, while gold rose by a similar quantum to $1,877.2/Oz.
Short on time? Well, then listen to this podcast for a quick summary of All You Need To Know before the opening bell.
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