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December 06, 2022 / 03:53 PM IST

Closing Bell: Nifty ends around 18,650, Sensex falls 208 pts; PSU banks rally

On the sectoral front, metal and information technology indices shed 1 percent each, while PSU bank index up 1 percent.

  • Closing Bell: Nifty ends around 18,650, Sensex falls 208 pts; PSU banks rally
    Stock Market Today:
    Moneycontrol.com
    HIGHLIGHTS
    • 03:16 PM IST

      Sharekhan keeps 'Buy' on HUL, target Rs 3,005

    • 03:11 PM IST

      Airtel launches ‘Airtel World Pass’ across 184 countries

    • 03:07 PM IST

      Sharekhan maintains Buy on Mahindra & Mahindra Financial Services, target Rs 275

    • 02:56 PM IST

      World growth forecasts cut again as inflation fight intensifies: Fitch Ratings

    • 02:53 PM IST

      Integrated Technologies appoints Anil Kumar as CFO

    • 02:35 PM IST

      Vodafone Idea in discussion with ATC for extension of agreement including preferential issue of OCDs to ATC Telecom Infra

    • 02:25 PM IST

      Rupee to trade between 81.50-82.60 over the near term: Kotak Securities

    • 01:52 PM IST

      BSE Healthcare index falls 0.5 percent dragged by Nureca, Bajaj Healthcare, Ami Organics

    • 01:39 PM IST

      Maruti Suzuki shares fall on recalling 9,125 vehicles

    • 01:11 PM IST

      UBS maintains 'buy' on HDFC Bank, target raises to Rs 1,900

    • 01:06 PM IST

      Indices trade lower with Nifty around 18600

    • 12:45 PM IST

      Vinati Organics subscribes to additional shares in rights issue of wholly owned subsidiary

    • 12:40 PM IST

      Nifty Auto index sheds 0.5 percent dragged by Samvardhana Motherson International, Eicher Motors, Hero MotoCorp

    • 12:28 PM IST

      PTC India Financial Services bags developmental contract for critical components for DRDO

    • 12:26 PM IST

      BSE Power index up 0.5 percent supported by Adani Transmission, Tata Power, Adani Green

    • 12:20 PM IST

      Sula Vineyards set for IPO launch on December 12

    • 12:11 PM IST

      India's economy expected to grow 6.9% this year - World Bank

    • 12:09 PM IST

      Expect 35 bps rate hike in the upcoming monetary policy: Lakshmi Iyer

    • 12:02 PM IST

      Indices trade near the day's low with Nifty around 18600

    • 12:01 PM IST

      Life Insurance Corporation of India ups stake in HDFC

    • 11:54 AM IST

      Ratnamani Metals bags new orders aggregating to Rs 262.52 crore

    • 11:52 AM IST

      Nifty Pharma index declines 1 percent dragged by Glenmark Pharma, Biocon, Dr Reddy's Laboratories

    • 11:41 AM IST

      Force Motors sells 1,623 units in the domestic market

    • 11:18 AM IST

      India’s sugar output may fall 7% YoY; sugar stocks surge

    • 11:01 AM IST

      Bajaj Hindusthan Sugar gains 43 percent in three sessions

    • 10:53 AM IST

      Viviana Power Tech locked in upper circuit after bagging new order

    • 10:48 AM IST

      Karur Vysya Bank gains as Meridian Chem Bond sells 0.6% stake

    • 10:39 AM IST

      Promoter Srinivasan Trust offloads Rs 262 crore stake in TVS Motor Company

    • 10:38 AM IST

      Sequoia Capital India sells Rs 228 crore shares of Go Fashion

    • 10:36 AM IST

      RBI is likely to soften the pace of its rate hike in the upcoming MPC meeting: Shishir Baijal

    • 10:27 AM IST

      UK's British International Investment Plc exits Rainbow Children's Medicare

    • 10:19 AM IST

      Nifty Information Technology index sheds 1 percent dragged by Coforge, Mphasis, LTIMindtree

    • 10:03 AM IST

      Benchmark indices trade lower with Nifty around 18600

    • 09:57 AM IST

      ANG Lifesciences India CFO Subodh Sharma resigns

    • 09:51 AM IST

      Natco Pharma gets favourable judgement in Chlorantraniliprole case

    • 09:46 AM IST

      IRB Infra reports 39% increase in toll collection in November

    • 09:41 AM IST

      BSE Oil & Gas index slips 0.5 percent dragged by ONGC, HPCL, BPCL

    • 09:39 AM IST

      Gravita starts Aluminium Recycling Plant in Togo-West Africa

    • 09:35 AM IST

      Nifty PSU Bank index up 0.7 percent led by Bank of India, Punjab and Sind Bank, Bank of Baroda

    • 09:31 AM IST

      Nifty Metal index sheds 1 percent dragged by Hindalco Industries, NALCO, SAIL India

    • 09:26 AM IST

      Ahluwalia Contracts bags Rs 175 crore construction order in Guwahati

    • 09:25 AM IST

      Dhunseri Tea Industries signs MoU with Apeejay Tea to acquire 2 tea estates for Rs 110 crore

    • 09:13 AM IST

      Sterlite Technologies appoints Tushar Shroff as Chief Financial Officer

    • 09:12 AM IST

      Indian equities are likely to decline in early Tuesday: Prashanth Tapse

    • 09:10 AM IST

      DroneAcharya Aerial Innovations IPO opening on December 13 priced at Rs 52-54

    • 09:00 AM IST

      LIC raises stake in HDFC Ltd to over 5%

    • 08:58 AM IST

      Gold regains some ground as dollar dips

    • 08:51 AM IST

      Immediate resistance for Nifty at 18,800: Mohit Nigam

    • 08:42 AM IST

      USDINR to trade sideways and quote in the range of 81.40-82.05: Gaurang Somaiya

    • 08:15 AM IST

      Dharmaj Crop Guard, Uniparts India IPO shares trade with double-digit premium in grey market

    • 08:06 AM IST

      Oil prices rise after price cap on Russian crude, OPEC+ meeting

    • 07:52 AM IST

      Dollar holds firm on hawkish Fed bets, Aussie on back foot before RBA

    • 07:47 AM IST

      Asian markets trade lower with Hang Seng, Taiwan Weighted down 0.5%

    • 07:40 AM IST

      Wall Street slides as services data spooks investors about Fed rate hikes

    • 07:32 AM IST

      SGX Nifty indicates a flat to negative start for the Indian indices

  • IndexPricesChangeChange%
    Sensex60,841.88909.64 +1.52%
    Nifty 5017,854.05243.65 +1.38%
    Nifty Bank41,499.70830.40 +2.04%
    Nifty 50 17,854.05 243.65 (1.38%)
    Fri, Feb 03, 2023
    Biggest GainerPricesChangeChange%
    Adani Ports498.8536.40 +7.87%
    Biggest LoserPricesChangeChange%
    Divis Labs2,884.35-382.65 -11.71%
    Best SectorPricesChangeChange%
    Nifty PSU Bank3888.60115.95 +3.07%
    Worst SectorPricesChangeChange%
    Nifty Energy22638.40-235.60 -1.03%


  • December 06, 2022 / 04:13 PM IST

    Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities

    Weak sentiment prevailed through the session as investors offloaded shares in rate-sensitive such as banking, automobile and realty stocks on the eve of RBI's credit policy announcement. In the past, we have seen investors turning cautious ahead of a key event and booking some profit to avoid getting caught off guard. 

    If the rate hike is above the Street expectations, investors may press the panic button, which could accelerate the selling pressure. The currency market too witnessed hectic activity as rupee breached 82 mark, fuelling concerns of overseas investors cutting their positions in local equities. 

    Currently, the market is trading near the 10-day SMA (Simple Moving Average) indicating strong possibility of a trend reversal in the near future. 

    For traders, 18,700 would be the key level to watch out, as above the same we could see a fresh uptrend rally till 18,800-18,850. On the flip side, a fresh round of selling pressure is possible only after the dismissal of 18,600, and below the same the index could slip till 18,500-18,480.

  • December 06, 2022 / 04:11 PM IST

    Ajit Mishra, VP - Technical Research, Religare Broking: 

    Markets traded lackluster and lost nearly half a percent, tracking feeble global cues. After the gap-down start, the Nifty hovered in a narrow range till the end and finally settled at 18,642.75 levels.

    Most of the sectoral indices traded in line with the benchmark and ended lower wherein IT, media and metal were among the top losers. The broader indices too witnessed profit taking and shed nearly half a percent each.

    Markets are digesting the recent gains and it may take a few more sessions to resume the trend. Meanwhile, traders should focus on managing positions and gradually adding quality names from across sectors. The decline in the auto and IT majors is offering a good opportunity to accumulate while pharma is not showing any sign of a reversal yet.

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  • December 06, 2022 / 04:08 PM IST

    Vinod Nair, Head of Research at Geojit Financial Services:

    Bears kept pushing domestic indices lower amid unfavourable global cues, with significant selling in metals and IT stocks. The mood was dampened by renewed concerns over policy tightening by the Fed in response to strong economic data out of the US. However, while easing COVID curbs in China benefited the demand outlook, fresh sanctions on Russian oil further added volatility to global oil markets. 

    Investors at home await the RBI policy meet tomorrow, which is expected to slow the pace of rate hikes, in light of easing food prices.

  • December 06, 2022 / 04:01 PM IST

    Mohit Nigam, Fund Manager & Head - PMS, Hem Securities

    Indian markets continued to tumble under selling pressure in the late afternoon session in response to negative global cues. Strong US services data aroused concerns about whether the Federal Reserve would decide to scale back the extent of its interest rate increases so soon, which led market investors worldwide to maintain their cautious stance. 

    In 2022–2023, the World Bank increased its GDP growth prediction for India up to 6.9 percent, noting that the country's economy was demonstrating more resilience to global shocks. It had decreased its earlier prediction of 7.5% GDP growth for India to 6.5% in October. The forecast has now been increased to 6.9% for 2022–2023. 

    On the international front, European and Asian markets were both trading down as fresh worries that the US Federal Reserve may raise interest rates more than anticipated eclipsed rising confidence regarding China's economic reforms.

    On the technical front, immediate support and resistance in Nifty50 are 18,550 and 18,750, respectively. For Bank Nifty immediate support and resistance are 42,900 and 43,400, respectively.

  • December 06, 2022 / 03:55 PM IST

    Kunal Shah, Senior Technical Analyst at LKP Securities

    The Bank Nifty index saw mild profit booking a day before the key event of RBI policy. The index is stuck in a broad range between 42,800-43,500 and a break on either side post the event will witness some trending moves. 

    The undertone remains bullish and if holding long positions the level of 42,800 should act as a strict stop loss. The index if breaks above 43,500 will witness a sharp short covering move on the upside towards 44,200-44,500 levels.

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  • December 06, 2022 / 03:51 PM IST

    Gaurav Ratnaparkhi, Head of Technical Research, Sharekhan by BNP Paribas

    The Nifty moved down yet again to test the key support at 18,600. The bulls managed to defend that support for the second consecutive session. 

    Channel study shows that the index has reached near lower end of rising channel on the hourly as well as daily chart. Thus, this is a high probability level for the index to start the next leg on the upside. 

    Initial resistance zone is at 18,700-18,730. Overall, the Nifty is expected to surpass the recent high of 18,888 & target 19,000 in the short term. The reversal for this bullish stance has been placed below 18,500 on a closing basis.

  • December 06, 2022 / 03:45 PM IST

    Rupak De, Senior Technical Analyst at LKP Securities

    Investors mostly remained on the sidelines as they preferred waiting for the RBI monetary policy announcement. The Nifty found support around the previous low before closing a bit higher. 

    The trend may remain sideways as long as the index remains within the bands of 18,600-18,800. Any decisive move on either side will induce a directional move.

  • December 06, 2022 / 03:34 PM IST

    Rupee Close:

    Indian rupee closed 82 paise lower at 82.61 per dollar against previous close of 81.79.

  • December 06, 2022 / 03:30 PM IST

    Market Close: Benchmark indices ended lower in the volatile session on December 6 with Nifty around 18650.

    At close, the Sensex was down 208.24 points or 0.33% at 62,626.36, and the Nifty was down 58.20 points or 0.31% at 18,642.80. About 1565 shares have advanced, 1825 shares declined, and 135 shares are unchanged.

    BPCL, Tata Steel, Hindalco Industries, Dr Reddy's Laboratories and UPL were among the top Nifty losers. The gainers included Adani Enterprises, HUL, Bajaj Auto, Nestle India and Power Grid Corporation.

    On the sectoral front, metal and information technology indices shed 1 percent each, while PSU bank index up 1 percent.

    The BSE midcap and smallcap indices ended in the red.

  • December 06, 2022 / 03:21 PM IST

    Canara Bank has revised Marginal Cost of Funds Based Lending Rate (MCLR) with effect from December 7

      Canara Bank has revised Marginal Cost of Funds Based Lending Rate (MCLR) with effect from December 7
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  • December 06, 2022 / 03:16 PM IST

    Sharekhan keeps 'Buy' on HUL, target Rs 3,005

    -Maintain 'Buy' recommendation on the stock with an unchanged price target of Rs 3,005

    -Expect HUL’s revenues and PAT to grow at CAGR of 14% and 16% respectively over FY2022-25E

    -HUL remains preferred pick in the consumer good space because of market share gains, expanding distribution reach of 9 million outlets, strong cash flow generation and consistent dividend payout

    Hindustan Unilever was quoting at Rs 2,651.50, up Rs 31.80, or 1.21 percent on the BSE.

  • December 06, 2022 / 03:14 PM IST

    Govt to allow foreign funds to own over 51 percent in IDBI Bank

    Government will allow a consortium of foreign funds and investment firms to own more than 51 percent in IDBI Bank, clarified DIPAM on Tuesday. The current guidelines of the Reserve Bank of India restrict foreign ownership in new private banks. The central bank's residency criteria for promoters applies only for newly set up banks and would not apply to an existing entity like IDBI Bank, it explained.

      Govt to allow foreign funds to own over 51 percent in IDBI Bank  

 Government will allow a consortium of foreign funds and investment firms to own more than 51 percent in IDBI Bank, clarified DIPAM on Tuesday. The current guidelines of the Reserve Bank of India restrict foreign ownership in new private banks. The central bank's residency criteria for promoters applies only for newly set up banks and would not apply to an existing entity like IDBI Bank, it explained.