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December 09, 2022 / 04:22 PM IST

Closing Bell: Nifty ends around 18,500, Sensex falls 389 pts; IT stocks major drag

Among sectors, information technology index shed 3 percent, PSU Bank, metal and realty indices down 1 percent each. However, FMCG index gained nearly 1 percent.

  • Closing Bell: Nifty ends around 18,500, Sensex falls 389 pts; IT stocks major drag
    Stock Market Today:
    Moneycontrol.com
    HIGHLIGHTS
    • 02:56 PM IST

      Citi maintains 'Buy' on Hindustan Unilever, target Rs 3,050

    • 02:53 PM IST

      V-Guard Industries to acquire 100% stake in Sunflame Enterprises

    • 02:42 PM IST

      SBI Board to consider raising additional tier-I capital on December 14

    • 02:38 PM IST

      Marico arm to acquires Beauty X Joint Stock Company

    • 02:08 PM IST

      European markets trade flat on the last trading day of week

    • 01:49 PM IST

      CLSA keeps 'Outperform' rating on HUL, target Rs 2,950

    • 01:39 PM IST

      Axis Bank to raise Rs 12,000 crore from 10-year Basel-III bonds

    • 01:32 PM IST

      Alembic Pharmaceuticals gets EIR from USFDA for Oncology Injectable Formulation facility at Panelav

    • 01:20 PM IST

      Hero MotoCorp CFO Niranjan Gupta given additional charge of heading strategy & M&A

    • 01:18 PM IST

      BSE Metal index slips 0.6 percent dragged by Jindal Steel, Vedanta, SAIL

    • 01:11 PM IST

      Gold firms on dollar dip; spotlight on Fed policy decision

    • 01:00 PM IST

      Indices extend losses with Nifty below 18500

    • 12:56 PM IST

      Vadilal Enterprises approves to sale, disposal of shares of Vadilal Forex & Consultancy Services and Majestic Farm House

    • 12:52 PM IST

      L&T arm to acquire stake in OPRO.AI INC

    • 12:50 PM IST

      Vedanta board approves fund raise of Rs 800 crore via NCDs

    • 12:47 PM IST

      Lupin launches authorized generic version of PENNSAID in the US markets

    • 12:43 PM IST

      Dabur India expands Fem brand with sanitary napkins foray

    • 12:38 PM IST

      Max Financial Services completes acquisition of balance 5.17% stake of Max Life from MSI, Japan

    • 12:36 PM IST

      Promoter Dr Vikram Indrajit Shah up stake in Shalby to 7.27%

    • 12:32 PM IST

      Indices near day's low with Nifty around 18,550; IT stocks drag, FMCG gains

    • 12:31 PM IST

      Nifty FMCG index up 0.6 percent led by Marico, Godrej Consumer Products, Nestle India

    • 12:29 PM IST

      Lupin appoints Spiro Gavaris as President of US generics business

    • 12:20 PM IST

      Adani Enterprises acquires Alluvial Mineral Resources

    • 12:14 PM IST

      Dollar slips on recession fears; eyes on U.S. CPI, central bank meetings

    • 12:11 PM IST

      Morgan Stanley keeps Equal-weight rating on Hindustan Unilever, target at Rs 2,230 per share

    • 11:53 AM IST

      Yes Bank gets further RBI RBI letters on  proposed investment by CA Basque Investments and Verventa Holdings

    • 11:01 AM IST

      At 11 am, about 1453 shares have advanced, 1624 shares declined, and 126 shares are unchanged

    • 10:53 AM IST

      BSE Healthcare index up 0.5 percent led by KMC Speciality Hospitals, Jagsonpal Pharmaceuticals, Jubilant Pharmova

    • 10:46 AM IST

      Alembic Pharmaceuticals receives USFDA Final Approval for Desonide Cream

    • 10:43 AM IST

      Sharekhan retains 'Buy' on Apollo Tyres, target Rs 372

    • 10:28 AM IST

      Cummins India shares test 4-month high as it provides tech for Gail's hydrogen plant

    • 10:22 AM IST

      Metropolis Healthcare appoints Surendran Chemmenkotil as CEO

    • 10:05 AM IST

      RateGain Travel Technologies arm incorporates company in UAE

    • 10:02 AM IST

      Indices erase early gains, trade flat amid volatility

    • 09:57 AM IST

      Nifty PSU Bank index up 1.5 percent supported by Punjab and Sind Bank, Central Bank of India, Indian Overseas Bank

    • 09:51 AM IST

      TVS Motor Singapore arm to acquire EV-related Tech & Assets in Germany

    • 09:43 AM IST

      Jyoti bags order for Khalwa micro irrigation project in Madhya Pradesh

    • 09:41 AM IST

      Immediate support for Nifty at 18550: Mohit Nigam

    • 09:35 AM IST

      Nifty Auto index up 0.5 percent supported by Tube Investments Of India, Sona BLW Precision FORGINGS, TVS Motor Company

    • 09:29 AM IST

      BSE Information Technology index falls 0.5 percent dragged by HCL Technologies, Digispice Technologies, Onward Technologies

    • 09:24 AM IST

      Pricol gets NCLT nod for Scheme of Amalgamation of Pricol Wiping Systems with itself

    • 09:22 AM IST

      Hindustan Unilever to acquire 19.8% stake in Nutritionalab

    • 09:18 AM IST

      Paytm shares gain 5% as board to consider share buyback on December 13

    • 09:10 AM IST

      Ethos set to launch german brand Tutima in India under an exclusive retail partnership

    • 08:50 AM IST

      GMM Pfaudler arm to acquire Mixel France SAS

    • 08:43 AM IST

      Asian shares higher as dollar retreats, risk events abound

    • 08:40 AM IST

      Digispice Technologies CEO Chandrachur Ghosh resigns

    • 08:37 AM IST

      Tata to begin semiconductor manufacturing in India: N Chandrasekaran

    • 08:35 AM IST

      Oil bounces near Dec 2021 lows after Keystone pipeline shutdown

    • 08:25 AM IST

      JSPL acquires Monnet Power’s power plant

    • 08:23 AM IST

      November CPI inflation seen at 9-month low of 6.4%, October IIP growth at 0.1%: Poll

    • 08:17 AM IST

      Hindustan Unilever enters health and wellbeing category with two investments

    • 08:15 AM IST

      Dollar slips on recession fears, central bank meetings loom

    • 08:05 AM IST

      Power giant NTPC will turn to nuclear in climate goal chase

    • 08:02 AM IST

      Sun Pharma clarifies on US FDA import alert on Halol plant

    • 07:50 AM IST

      US jobless claims up modestly last week

    • 07:46 AM IST

      Asian markets trade higher with Nikkei up 1 percent, Hang Seng, Kospi, Taiwan Weighted up 0.5% each

    • 07:45 AM IST

      Paytm board to consider share buyback on December 13

    • 07:41 AM IST

      S&P 500, Nasdaq snap losing streaks after jobless claims rise

    • 07:38 AM IST

      SGX Nifty indicates a positive start for the Indian indices

  • IndexPricesChangeChange%
    Sensex59,726.25-478.81 -0.80%
    Nifty 5017,771.45-120.50 -0.67%
    Nifty Bank40,943.00-704.65 -1.69%
    Nifty 50 17,771.45 -120.50 (-0.67%)
    Fri, Jan 27, 2023
    Biggest GainerPricesChangeChange%
    Tata Motors446.0527.00 +6.44%
    Biggest LoserPricesChangeChange%
    Adani Ports693.00-20.15 -2.83%
    Best SectorPricesChangeChange%
    Nifty Auto13181.10223.95 +1.73%
    Worst SectorPricesChangeChange%
    Nifty Energy24712.20-738.10 -2.90%


  • December 09, 2022 / 04:22 PM IST

    Kunal Shah, Senior Technical Analyst at LKP Securities

    The Bank Nifty index witnessed some selling pressure at higher levels where fresh short positions were built up. The index is still trading in a broad range between 43,000-44,000 where a significant amount of put and call writing has been witnessed respectively. 

    The index must decisively breach the range for a trending move on either side.

  • December 09, 2022 / 04:21 PM IST

    Aditi Nayar, Chief Economist, ICRA:

    The total net cash outgo under the supplementary demand for grants, which is somewhat smaller than our expectations, is dominated by fertilizer subsidy, food subsidy, payments to the OMCs for domestic LPG operations, and funds towards NRGEGA. 

    Additionally, capex has been augmented by around Rs. 31000 crore, which should help to ensure that the capex target is achieved. With savings likely under other heads, we do not see the supplementary demands resulting in a meaningful breach of the fiscal deficit target of 6.4% of GDP.

  • ADVERTISEMENT
  • December 09, 2022 / 03:54 PM IST

    Amol Athawale, Deputy Vice President - Technical Research, Kotak Securities

    Profit taking was back in action as investors dumped IT, metal and realty stocks, even as benchmark Sensex still managed to end above the psychological level of 62000 mark. The recent trend indicates that markets may continue to exhibit intra-day volatility as investors keenly await the outcome of the US Fed's decision on interest rate next week. More than the rate hike, investors would be more interested in knowing about the forward looking statement on inflation and rate decision going ahead. 

    Technically, the lower top formation on intraday charts and bearish candle on weekly charts is indicating further weakness from the current levels. 

    For short-term traders, the 20-day SMA (Simple Moving Average) or 18,450 would act as a sacrosanct support zone, above which, we could expect a one pullback rally till 18,700.  On the flip side, below 20 day SMA or 18,450, further sell off is possible till 18,300-18,200.

  • December 09, 2022 / 03:52 PM IST

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

    Equity markets in India posted negative returns this week. Key indices like BSE Sensex, Nifty 50, BSE Midcap and BSE Smallcap ended the week in the red. Amongst sectors, the performance was mixed. BSE IT, BSE Healthcare and BSE Power indices reported sharp declines this week. On the other hand, BSE FMGC, BSE Capital Goods and BSE Bankex saw marginal gains. 

    FPI’s have been net sellers of Indian equities during the week. Domestic markets reacted to 35 bps repo rate hike by the RBI MPC. The RBI MPC expressed optimism on growth but tackling inflation will likely be a key focus. 

    Oil prices saw a sharp decline this week and that is positive for India. 

    Impact of easing of covid restrictions by China needs to be watched out. In the US, the 10 year treasury yields have seen a steady decline over the past few weeks. The 10 year US treasury yield is now below 3.5% compared to a high of 4.22% in November 2022. Globally, markets are now awaiting US FOMC rate hike action and commentary in their scheduled meeting next week.

  • December 09, 2022 / 03:48 PM IST

    Vinod Nair, Head of Research at Geojit Financial 

    Today's downfall in the domestic market was sparked by IT stocks extending their losses after warning of a potential slowdown in business on global recession fears. 

    This was further aggravated by banks losing their grip as PSBs suffered heavy sell-offs. However, global bourses were largely positive, although the Fed is expected to raise interest rates by 50 basis points next week.

  • ADVERTISEMENT
  • December 09, 2022 / 03:44 PM IST

    Rupak De, Senior Technical Analyst at LKP Securities:

    Nifty remained volatile before closing lower as Nifty ended more than 100 points lower. On the daily chart, the index slipped below the recent consolidation, suggesting a rise in pessimism. Besides, the bulls failed to protect the 18,500. 

    Going forward, the trend may remain negative with support placed at 18,350/18,200. On the higher end, 18,670 may act as crucial resistance

  • December 09, 2022 / 03:35 PM IST

    Rupee Close:

    Indian rupee closed 16 paise higher at 82.27 per dollar against previous close of 82.43.

  • December 09, 2022 / 03:30 PM IST

    Market Close: Indian benchmark indices ended lower on December 9 with Nifty around 18,500.

    At Close, the Sensex was down 389.01 points or 0.62% at 62,181.67, and the Nifty was down 112.70 points or 0.61% at 18,496.60. About 1199 shares have advanced, 2220 shares declined, and 113 shares are unchanged. 

    HCL Technologies, Tech Mahindra, Infosys, Wipro and Hindalco Industries were among the top Nifty losers, while gainers were Nestle India, Sun Pharma, Dr Reddy's Laboratories, Titan Company and Eicher Motors.

    Among sectors, information technology index shed 3 percent, PSU bank, metal index and realty indices down 1 percent each. However, FMCG index gained nearly 1 percent.

    BSE midcap index fell 0.4 percent and smallcap index slipped 1 percent.

  • December 09, 2022 / 03:27 PM IST

  • December 09, 2022 / 03:24 PM IST

    Akhil Chaturvedi, Chief Business Officer, Motilal Oswal Asset Management Company

    These trends reflect sign of maturity in investors' mindset. SIP contribution remaining above Rs 13,000 indicates better awareness among retail investors about long term orientation of equity investments and wealth creation opportunities from India’s growth trajectory. 

    Investors now have an understanding of seeing short term volatility as a part and parcel of equity investing. Instead of reading too much into month on month dip in net equity inflows, the heartening thing to note is that net equity inflow has remained relatively resilient and investors are willing to look past short term trends and instead focus on long term fundamentals.

  • ADVERTISEMENT
  • December 09, 2022 / 03:21 PM IST

    Bernstein On Sun Pharma 
    -Outperform call, target at Rs 1,099 per share
    -Import alert for halol disappointing but rev & margin impact insignificant
    -Revenue exposure is 3% of consol sales
    -Est US gx EBITDA margin to be 7%, 0.8% -ve impact on FY24 EPS which is immaterial
    -US Gx story stopped being material for co since 2019/20
    -Largest growth drivers will remain us specialty & India branded generics 
    -Believe US generics to be a drag on growth & margin 

    Sun Pharmaceutical Industries was quoting at Rs 994.20, up Rs 13.25, or 1.35 percent.

  • December 09, 2022 / 03:11 PM IST

    Gujarat Fluorochemicals Large Trade | 3.01 lakh shares (0.27% equity) worth Rs 97.21 crore change hands at Rs 3,232.05 per share

    Gujarat Fluorochemicals Limited was quoting at Rs 3,238.75, down Rs 10.95, or 0.34 percent.