Closing Bell
India's benchmark indices posted their longest run of weekly gains since April 2019, ending higher for seven straight weeks. Today's session was rangebound, with both the benchmarks ending little changed.
The S&P BSE Sensex ended with gains of 70 points at 46,960, while the NSE Nifty 50 index ended with gains of 20 points at 13,760. The Sensex recovered 330 points while the Nifty recovered over 100 points from their respective day's low.
I.T. and Pharma stocks were the outperformers in today's trading session. The I.T. index ended 1.6% higher while the Pharma index gained 1.3%.
Other sectoral indices recovered from the day's low to end with modest losses. The Nifty Bank to recovered nearly 350 points from the day's low to end 0.4% lower.
The PSU Bank index fell 0.7% while the Realty index ended with losses of 0.6%.
Broader markets too were subdued in today's session. The Nifty Midcap index ended 0.2% lower as did the Nifty Smallcap index.
India Volatility Index fell 2.8% to end at 18.62.
1,188 stocks on the NSE ended with losses while 708 stocks bucked the trend to end higher.
How Did The Markets Fare This Week
Nifty Bank 300 Points Off Day's Low
Buzzing Stock: Cummins India
- Second best gainer on the Nifty Midcap index
- Gains as much as 4.3% to Rs 614.8
- Trading at the highest level since September 2019
- Today's volumes are 12% higher than its 20-day average
- Stock in overbought territory with Relative Strength Index (RSI) at 73
- 14 out of the 33 analysts tracking the stock have a buy recommendation; 9 sell calls
- The stock is trading 18.9% higher than its 12-month Bloomberg Consensus price target
Flexible Inflation Targeting
Also Read: In Defence Of Flexible Inflation Targeting
Markets At 2:10 P.M.
- Benchmark indices pare losses; set for seventh straight weekly gains
- Nifty down 8 points at 13,731
- Sensex down 33 points at 46,857
- Nifty Bank down 0.9% at 30,576
- Nifty Midcap index down 0.2%
- Nifty Smallcap index down 0.1%
- India Volatility Index down 1.4% to 18.88
- Nifty I.T. remains the top sectoral gainer; up 2.2% at a record high
- Nifty Pharma index up 1% while Nifty Media up 0.5%
- Nifty PSU Bank index remains the top sectoral laggard; down 1.5%
- Infosys remains the top Nifty gainer; up 2.9%
- IndusInd Bank remains the top Nifty laggard; down 3.1%
- 1,181 stocks on the NSE trade with losses while 688 trade with gains
KNR Constructions Approves Bonus Issue
In Focus: November Aviation Data
I.T. Stocks Buck The Trend
In Focus: Indian Bonds
Anand Mahindra On Uday Kotak
Brokerage Reaction: L&T Technology Services
- CLSA upgrades the stock to outperform from underperform
- Price target raised to Rs 2,020 from Rs 1,750
- Recent deal wins improve long-term growth outlook
- More deals could follow as indicated by recent management interactions
- Wins add to steady but slow demand revival in ER&D services market
- Raise FY22/23 Ebit by 8% and 10% respectively
- Improved outlook should correct underperformance
Markets At Noon
- Benchmark indices trade with modest losses but poised for weekly gains
- Nifty down 0.3% at 13,658
- Sensex down 0.3% at 46,746
- Nifty Bank down 1.1% at 30,515
- Nifty Midcap index down 0.4%
- Nifty Smallcap index down 0.4%
- India Volatility Index up 0.7% to 19.29
- Nifty I.T. remains the top sectoral gainer; up 1.6%
- Nifty Pharma is the only other sectoral gainer; up 0.5%
- Nifty PSU Bank remains the top sectoral laggard; down 1.8%
- Infosys remains the top Nifty gainer; up 2.4%
- Four out of the top five Nifty gainers are I.T. stocks
- IndusInd Bank remains the top Nifty laggard; down 3.1%
- 1,256 stocks on the NSE decline while 563 are advancing
Neelkanth Mishra Interview
I.T. Stocks Buck The Trend
Buzzing Stock: Titan
- Trading at a record high
- Gains as much as 1.5% to Rs 1,523.9
- Has gained in five out of the last six trading sessions
- Today's volumes are 17% below its 20-day average
- Relative Strength Index (RSI) of the stock at 78
- 14 out of the 32 analysts tracking the stock have a buy recommendation; 7 sell calls
- The stock trades 18.6% higher than its 12-month Bloomberg consensus price target
PSU Bank Index Down For Third Day
In Focus: Jefferies' Value Picks
Markets At 10:10 A.M.
- Benchmark indices decline after a five-day rally
- Nifty down 0.5% at 13,678
- Sensex down 0.4% at 46,696
- Nifty Bank down 1.3% at 30,452
- Nifty Midcap index down 1.2%
- Nifty Smallcap index down 1.3%
- India Volatility Index up 0.2% to 19.2
- Nifty Media and Nifty PSU Bank indices are the top sectoral laggards; down 2.3% each
- Nifty Realty index declines 1.8%
- Nifty Metal and Nifty Auto indices decline 1% each
- Nifty I.T. is the only sectoral gainer; up 1.3%
- Infosys is the top Nifty gainer; up 2.1%
- Three out of the top five gaines on the Nifty are I.T. stocks
- IndusInd Bank is the top Nifty laggard; down 4%
- 1,447 stocks on the NSE trade with losses while 336 stocks gain
In Focus: SREI Group
In Focus: Credit Suisse' Market Outlook
Opening Bell
Indian equity markets have opened with a positive bias for the sixth straight session, poised for their seventh consecutive weekly advance.
The S&P BSE Sensex opened above the mark of 47,000, gaining 0.3% to open at 47,026 while the NSE Nifty 50 index gained just over 20 points to open at 13,764.
A seventh straight weekly advance would be the longest weekly gaining run since April 2019.
Among the sectoral indices, the I.T. index has opened with gains of 1.2% courtesy strong commentary from Accenture. Also gaining is the Media index, which is up 0.5%. Most other sectoral indices are trading little changed.
Broader markets too have opened with modest gains. The Nifty midcap index is up 0.2% while the Smallcap index has gained 0.4% at the start of trade.
1,049 stocks on the NSE are trading with gains while 483 are trading with losses.
Current Market Update
Seventh Week Of Gains In Store
Good Morning!
Indian equity markets are poised to gain for the seventh straight week — the longest such streak since April 2019.
So far this week, the S&P BSE Sensex and NSE Nifty 50 have gained 1.7%.
Futures, however, are indicating a flat start to the final trading day of the week. The Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, rose 0.2% to 13,771 as of 8:20 a.m. on Friday.
For today’s trading session, Sun TV has joined Canara Bank and Punjab National Bank in the F&O ban. Three other stocks — HDFC Asset Management Co., Dr. Lal Pathlabs Ltd. and Aarti Industries Ltd. — will commence trading in the F&O space starting Jan. 1, 2021, according to a circular on the exchanges.
Globally, Asian markets are mixed this morning as the U.S. lawmakers continue to wrangle over a federal-spending deal. Futures on the Dow Jones are currently trading 65 points lower. The index had gained 0.5% on Thursday.
West Texas Intermediate crude fell 0.3% to $48.2 per barrel, while gold traded at $1,879.8/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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