Closing Bell

Wiping off early losses, benchmark indices rebounded and finished in the positive territory as Metals, Oil and gas, Auto, Healthcare and FMCG shares witnessed fresh spells of buying amidst short-covering by investors.

The BSE Sensex ended higher by 77.01 points at 36,347.08. The gauge had touched a low of 36,046.52 points during intraday.

The broader Nifty also reclaimed the 10,900-mark touching a high of 10,915.40.  The Nifty closed at 10,908.70, up by 20.35 points.

 However, the BSE IT index failed witness any recovery despite some late buying in equities. IT stocks ended lower today on renewed sellling amidst lack of buying support. Infosys was down by 2.48% at Rs 676.35, TCS was down by 0.25% at Rs 1,988, Wipro has shed 1.40% at Rs 335 and Tata Elxsi was down by 0.55% at Rs 1,016.90.

BSE SECTORAL INDICES

BSE SENSEX CHART

BSE Sensex stocks

MID-CAP GAINERS ON NSE

Mid-Cap Gainers on NSE

TOP NSE GAINERS

TOP NSE GAINERS

NEXT 50 GAINERS ON NSE

NSE NEXT GAINERS

Wiping off early losses, benchmark indices rebounded to trade in the positive zone in late session as Metals, Oil and gas, Auto, Healthcare and FMCG shares witnessed fresh spells of buying and short-covering by investors.

The BSE Sensex was trading higher by 59.41 points at 36,329.48. The gauge had touched a low of 36,046.52 points during intraday.

The broader Nifty also reclaimed the 10,900-mark touching a high of 10,915.40.  The Nifty was quoted at 10,910.05, up by 21.70 points

Sensex stocks

Kamat Hotel shares zoom

Kamat Hotels shares zoomed 10% or Rs 9 at Rs  54.10 today following a recent Supreme Court order that ruled in its favour over a dispute revolved around use of ‘Orchid’ in the names and brands of the hospitality companies Kamat Hotels and Roycal Orchid Hotels. Kamat Hotels owns and runs two Orchid Hotels in Mumbai and Pune.

Kamat Hotels and Royal Orchid Hotels were in a legal dispute over infringement of the ‘Orchid’ trademark.

Kamat Hotel chart

 Markets recouped losses in late session due to fresh buying in Metals, Oil & Gas, Healthcare, Banking, Auto, Power and Manufacturing sector stocks.

BSE SECTORAL INDICES

Sensex stocks

Out of the 2,610 shares traded on the BSE, advancers were seen higher at 1,276 and the decliners were lesser at 1,174. The number of scrips that remained unchanged was at 160.

INDEX WATCH on BSE

Equity indices managed to recover some of its losses in the afternon trading session today. Metals, Healthcare, oil&gas and Auto gave support to the overall market. However, banking  and Financial Services met with losses.

Nifty 50 December Futures (10,860) : No clear trend seen

The Nifty 50 futures contract opened the day with a wide 38-point gap-down. Though the contract has managed to reverse higher from the day's low of 10,835, the bounce-back move seems to be lacking in strength. The contract is reversing lower again from 10,872 and is currently trading at 10,860. This leaves the near-term bias negative. Immediate support is at 10,845. A break below it can take the index futures lower to 10,820 or 10,810.

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MIRC Electronics shine prominently

Shares of MIRC Electronics rose smartly by 10 per cent after the company said recently that it has bagged a major order to make television sets for the Mukesh Ambani-owned Reliance Retail. As part of its effort to step up non-captive manufacturing, the company is also in talks with three Chinese companies to manufacture television sets for their clients in India. Mirc Electronics manufactures white goods under the Onida brand,

MIRC ELECTRONICS CHART

The S&P BSE Smallcap index was trading in the green.  The smallcap index was quoted at 14,570.57, up by 30.53 points. Among the small cap stocks, top gainers were Zensar Technologies, which zoomed 15%, Birla Money zoomed 11.30%, MIRC Electronics rose 10%,  IL&FS Investment Managers gained nearly 10% and ELGI Equipment was up 7.50%

Majesco continues its upward journey

Shares of Majesco rallied nearly 5% today and it was quoted at Rs 496.40. The US subsidiary of IT solutions firm, Majesco, has entered into a share purchase agreement to fully acquire Ireland’s Exaxe Holdings for up to €11.61 million (approx Rs 92.90 crore).

United Breweries shares fly 3.50%

United Breweries shares has gone up over 3.50% on the back of fresh buying interest.  Though there was no big news report on this counter, the stock didn't move much after it reported stronger earnings. It seems traders are buying into this stock seeing good value at these price levels.

Union Bank shares jump 4%; aiming higher biz target

Union Bank shares went up smartly today after the bank said that is aiming to achieve a business of ₹50,000 crore from its mid-corporate vertical (MCV) in the current fiscal. According to Rajkiran Rai G, Managing Director and Chief Executive Officer of the bank, the bank’s MCV has a business of around ₹36,000 crore now. The share of MCV portfolio comprises 4 per cent of the total domestic advances portfolio of the bank.

Kotak Mahindra Bank shares trade flat

Kotak Mahindra Bank traded flat today even as the Bombay High Court yesterday declined Kotak Mahindra Bank’s plea for a stay on the Reserve Bank of India (RBI)’s December 31 deadline to reduce its promoter stake holding. This, in effect, would mean that the private sector lender has a little more than 10 days to lower its promoter stake from close to 30 per cent to 20 per cent without facing penalties from the RBI.

Go Long in Reliance if rebounds up from ₹1,115 levels

₹1130 • Reliance Ind.

Tata Motors hold firm

Tata Motors stock was trading firm after rising over 4 per cent yesterday. The stock was quoted at Rs 174.25, up by 0.30%. Tata Motors'J aguar Land Rover could cut up to 5,000 jobs as part of a £2.5-billion overhaul programme. The company has declined to confirm or deny the report — from the  Financial Times  — which said that the cuts could be announced in the New Year.

Buy ONGC with stop-loss at ₹145 levels

₹148 • ONGC

Sell Infosys if falls below ₹685 levels

₹693 • Infosys

Infosys Public Services, a subsidiary of India’s second largest software exporter, will implement the SAP-based solution and set up a network for Public Services and Procurement Canada

Buy HDFC Bank with fixed stop-loss

₹2130 • HDFC Bank

Sensex stocks

Broker's call: Crompton Greaves (Hold)

ICICI Securities

Crompton Greaves (Hold)

CMP: ₹226

Target: ₹220

Consumer electrical space in India is amidst high competitive intensity which will keep near term earnings for player such as Crompton Greaves Consumer Electricals (Crompton) under pressure. Most of the players are trying to de-risk by expanding product portfolio, often through inorganic means. Crompton has significant dependence on fans/lighting for growth.

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Broker's call: ACC (Buy)

Centrum Broking

ACC (Buy)

CMP: ₹1,510

Target: ₹1,820

ACC is engaged in manufacturing of cement and ready mixed concrete. The company’s segments include cement and ready mix concrete. The company manufactures cement, which includes Ordinary Portland Cement (OPC), Portland Pozzolana Cement (PPC), Portland Slag Cement (PSC) and Ready Mixed Concrete (RMX).

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BL 28-03-2012 MUMBAI:(left) Mr.Paul Hugentobler, Deputy Chairman, ACC Limited and Mr.N S Sekhsaria, Chairman at the companys 76th AGM held in Mumbai on Wednesday. Pic by SHASHI ASHIWAL

Rupee rises 37 paise to 71.19 against dollar

The rupee appreciated 37 paise to 71.19 against the US dollar in early trade at the interbank foreign exchange Tuesday after crude prices fell to a 14-month low level in international market.

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Representative image

BSE SECTORAL INDICES

Just Dial to remain in focus

Shares of Just Dial was trading firm today as ₹220-crore buyback offer opens today. Through the offer, which closes on January 1, 2019, the company plans to buy back 27.50 lakh shares at ₹800 a share.

Shares of Just Dial will remain in focus till the buyback closure period.

BSE IT chart

IT STOCKS

The BSE Information and Technology index fell more than 1 per cent in the morning trading session mainly due to weak US markets. The BSE IT index was trading at 14,450.94, down 170 points or 1.16%.

BSE Sectoral indices

Indian bourses fell sharply today tracking weak global cues. The BSE Sensex declined 164 points at 36,106.54, while the Nifty, on the NSE, was down 53 points at 10,835.35.

While auto stocks such as Tata Motors, M&M, Hero MotoCorp moved in the positive terrritory,  banking stocks such as SBI, Axis Bank, Yes Bank have met with losses. IT stocks fell more than 1 per cent today on the back of renewed sellling by investors.

Among the Sensex stocks, while 8 scrips have advanced, 23 shares declined with one stock remain unchanged in the morning trade.

Nifty Sectoral indices

Sensex stocks

S&P 500 hits 14-month low on economic jitters ahead of Fed meeting

Wall Street's major indexes all slid more than 2 per cent on Monday, with the benchmark S&P 500 closing at its lowest in 14 months, on concerns about slowing economic growth ahead of a highly anticipated decision from the Federal Reserve this week on the course of US interest-rate hikes.

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Stocks firmer after oil surge boosts Wall St energy shares. File Photo

Day Trading Guide For December 18

Given below are supports and resistances for Nifty 50 futures and seven key stocks that can help in your intra-day trading:

₹2130 • HDFC Bank

₹693 • Infosys

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Today's Pick: Petronet LNG (₹225.3): Buy

Investors with a short-term perspective can consider buying the stock of Petronet LNG at current levels. The stock gained 3.8 per cent accompanied with an above average volume on Monday, decisively breaching a key immediate resistance at ₹219. Moreover, the stock has conclusively surpassed its 21- as well as 50-day moving averages and trades well above them.

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Kochi.,Kerala:A view of the LNG terminal at Puthuvypeen in Kochi Photo:Vipin Chandran

Asian markets slide as global growth worries deepen

Asian share markets slumped on Tuesday as heightened concerns about a slowing global economy sent Wall Street stocks skidding to their lowest levels in more than a year. MSCI's broadest index of Asia-Pacific shares outside Japan shed 0.3 percent in mid-morning trade while Japan's Nikkei tumbled 1.2 percent by the midday break.

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