Closing bell
The S&P BSE Sensex closed marginally higher by 33.29 points or 0.09 per cent at 35,962.93 and the Nifty 50 up 13.9 points or 0.13 per cent at 10,805.45.
Top five Sensex gainers were Bharti Airtel, YES Bank, ONGC, Coal India and NTPC, while the major losers were Wipro, HDFC, L&T, Bajaj Auto and Sun Pharma.
Among BSE sectoral indices, oil & gas, PSU, power and TECk remained investors' favourite, while healthcare, capital goods, consumer durables and metals succumbed to selling pressure.
Benchmark indices snapped their 3-day rally due to profit-booking by funds and retail investors and weak global cues.
Investors were also awaiting the outcome of Reserve Bank of India board meeting at which governance issues - notably a push by Prime Minister Narendra Modi's administration to have a bigger say in the RBI's regulatory decisions - will head the agenda.
Stocks worldwide tumbled on Friday after weak economic data from China and Europe fanned concerns of a global economic slowdown and left investors fretting over the wider impact of a still-unresolved Sino-US trade dispute. The MSCI All-Country World Index, which tracks stocks across 47 countries, was down half a per cent.
World stocks tumble
Stocks worldwide tumbled after weak economic data from China and Europe fanned concerns of a global economic slowdown and left investors fretting over the wider impact of a still-unresolved Sino-US trade dispute. The MSCI All-Country World Index, which tracks stocks across 47 countries, was down half a per cent. Read more
European shares sink
European shares were sharply lower in early trade as weak Chinese data renewed worries about the health of the world's second-largest economy and potential damage from Washington's protracted trade spat with Beijing. Read more
Marginal rise in gold futures
Gold prices rose Rs 2 to Rs 31,529 per 10 gram at the futures trade as speculators widened their bets, tracking a firm trend overseas. Globally, gold rose 0.1 per cent to $1,246.4 an ounce in Singapore. Read more
IEX climbs over 9% on buyback proposal
Shares of Indian Energy Exchange surged over 9 per cent as the board will meet next week to consider a proposal to buy back the company’s equity shares. On the NSE, the stock jumped 5.03 per cent to touch an intraday high of Rs 164.8. Read more
Sensex gainers, losers
Nifty gainers, losers
Benchmark indices were trading marginally lower due to profit-booking by investors after a 3-day rally and weak global cues . Investors were also awaiting the outcome of Reserve Bank of India board meeting, Shaktikanta Das' first as its governor, at which governance issues - notably a push by Prime Minister Narendra Modi's administration to have a bigger say in the RBI's regulatory decisions - will head the agenda.
The Sensex was down 32.94 points or 0.09 per cent at 35,896.70 and the Nifty down 9 points or 0.08 per cent at 10,782.55. Both the indexes were set to finish the week slightly lower, following three straight weeks of gains.
After the recent rally, the market is taking a breather, said Deven Choksey, founder, KR Choksey Investment Managers.
Weak data out of China, which sparked fresh worries of a slowdown in the world's second-biggest economy, kept a lid on investor spending in Asian markets.
Brokers to be placed in risk reduction mode from Dec 17
To enhance risk management capabilities, trading members will be compulsorily placed in risk reduction mode when 90 per cent of the members’ capital is utilised towards margins. The new framework will be effective from December 17, 2018. Read more
WGC Wealth looks to break into the top 5
WGC Wealth is aiming to break into the top-five industry ranking league in next five years, says its CEO Atul Singh. In just three months since the launch, this wealth management arm of the $22-billion Wadhawan Global Capital, has already built a book of ₹1,000 crore, mostly from Ultra HNIs and HNIs. Read more
Banks seek 6-month waiver from RBI
The Indian Banks’ Association, representing the country’s top lenders, wants the Reserve Bank of India and the Centre to exempt banks from asset classification with regard to the loan exposure to the beleaguered IL&FS group for six months. Read more
WPI inflation falls to 3-month low
Inflation based on wholesale prices fell to a three-month low of 4.64 per cent in November, as the prices of food articles, especially vegetables, softened. The Wholesale Price Index-based inflation was 5.28 per cent in October and 4.02 per cent in November last year. Read more
Nifty 50 December Futures (10,816)
December month Nifty futures contract began the session on a negative note at 10,806. After marking an intra-day low of 10,771, the contract began to move up. Subsequently, the contract started to trend upwards and marked an intra-day high of 10,837. Read more
Nifty gainers, losers
Housing Development Finance Corporation Ltd's stock, down 1.5 per cent, was the top drag on the NSE. Shares of IT major HCL Technologies Ltd declined the most, falling as much as 2.7 per cent.
Shares of Fortis Healthcare Ltd plunged 14.3 per cent as a media report said that India's top court has put Fortis' sale to IHH Healthcare Bhd Ltd on hold.
Bharti Airtel Ltd's stock surged 10 per cent after a tribunal dismissed the telecom regulatory authority's order on predatory pricing. The stock was the top percentage gainer on the NSE index.
Shares of its larger rival Vodafone Idea Ltd jumped 8 per cent to an over two-week high. Indian Oil Corp Ltd's counter rose as much as 3.5 per cent after it approved a buyback worth up to Rs 4,435 crore.
Benchmark indices continued to trade lower due to profit-booking by investors after a three-day rally amid weak global cues. Investors were also awaiting the outcome of a Reserve Bank of India board meeting, Shaktikanta Das' first as its governor, at which governance issues - notably a push by Prime Minister Narendra Modi's administration to have a bigger say in the RBI's regulatory decisions - will head the agenda.
The Sensex was trading up 36.15 points or 0.1 per cent at 35,965.79 and the Nifty up 9.45 points or 0.09 per cent at 10,801. Financials and consumer stocks led the losses, but Bharti Airtel Ltd surged on a regulatory win.
The indexes were set to finish the week slightly lower, following three straight weeks of gains.
After the recent rally, the market is taking a breather, said Deven Choksey, founder, KR Choksey Investment Managers.
Weak data out of China, which sparked fresh worries of a slowdown in the world's second-biggest economy, kept a lid on investor spending in Asian markets.
Your Fund Portfolio
Although you are a tad late in starting MF investments, you still have time for saving towards long-term goals such as retirement. You must ideally have specific goals and save towards them. As you are new to investing, you can start with schemes with a large-cap bias and equity-oriented hybrid funds. These categories carry low or modest risks. Click here to read more
Will the Lok Sabha election impact market?
The polling for electing members of the 17th Lok Sabha is about to begin in a few months and psephologists and political analysts are already working over-time, trying to understand and interpret voter behaviour. Should investors in Indian stocks and mutual funds be worried about the coming general elections? Click here to read more
Global debt hits $184 trillion
Global debt has reached an all-time high of $184 trillion, with three countries — the United States, China and Japan — accounting for more than half of it, the International Monetary Fund said Thursday. Earlier this year, the IMF had calculated the global debt to be around $182 trillion. Read more
RBI board meet underway
The crucial central board meeting of the Reserve Bank is underway to discuss about contentious issues, including a new economic capital framework for the central bank and relaxation in prompt corrective action norms for at least some of 12 state-run banks. Click here to read more
Bharti Airtel, Vodafone rally on TDSAT ruling
Bharti Airtel jumped as much as 10 per cent, and rival Vodafone Idea Ltd gained as much as 8 per cent as TDSAT has set aside TRAI ruling on predatory pricing. Read more
Motherson Sumi jumps 5%
Shares of car wiring maker Motherson Sumi Systems Ltd rose 4.8 per cent to Rs 169.4, their highest since December 5. Over 1.5 million shares changed hands in the first few minutes of trade against the 30-day moving average of 7.8 million shares. Read more
Need to reduce govt mandates on PSBs: Rajan
Former RBI Governor Raghuram Rajan says said there is need to reduce uncompensated government mandates imposed on public sector banks. “This is a lazy government — if an action is worth doing, it should be paid out of budgetary resources. It is also against the interests of minority shareholders in PSBs,” Rajan says. Read more
SC gives clean chit to Modi govt in Rafale deal
The Supreme Court has given a clean chit to the Narendra Modi government on the procurement of 36 Rafale fighter jets from France. The apex court said there was no occasion to doubt the decision-making process in the multi-billion dollar Rafale deal. Read more
Benchmark indices were trading marginally down as investors remained wary ahead of RBI central board meeting under new Governor Shaktikanta Das. The meeting will review the progress with respect of some of the decisions taken at the last meeting on November 19.
Weakening of rupee to 71.82 against the US dollar and negative global cues also dampened the domestic sentiment.
The Sensex was trading down 50.39 points or 0.14 per cent at 35,879.25 and the Nifty down 12.55 points or 0.12 per cent at 10,779. Among BSE sectoral indices, capital goods, healthcare, consumer durables and auto succumbed to selling pressure, while oil & gas, realty, TECk and PSU found investors' support.
Top five Sensex gainers were Bharti Airtel, YES Bank, Asian Paints, Infosys and ICICI Bank, while the major losers were HDFC, Maruti, Bajaj Auto, L&T and PowerGrid.
As per provisional data, foreign portfolio investors bought shares worth Rs 675.14 crore, while domestic institutional investors were sellers to the tune of Rs 51.86 crore on Thursday.
Brent crude slips to $61/barrel
Oil prices fell as investors cashed in gains of more than 2 per cent made during the previous session on concerns demand may slump amid slowing economic growth, though there are still expectations for producer supply cuts to support prices. Brent crude oil futures were at $61.09 per barrel at 0353 GMT, down 36 cents, or 0.6 per cent, from their last close. Read more
Rupee weakens to 71.82
The rupee declined to 71.82 due to strengthening of the US dollar against other currencies overseas and caution ahead of RBI central board meeting under new Governor Shaktikanta Das. It hovered in a range of 71.82 and 71.70 before quoting at 71.71 against the US dollar. Read more
Spot gold steady at $1,242
Gold prices steadied, after slipping to a week-low in the previous session, supported by uncertainty around Federal Reserve's next year's policy outlook, while the dollar strengthened on expectations of a rate hike next week. Spot gold was steady at $1,242.11 per ounce, as of 0133 GMT. Read more
Premier Explosives rallies 12%
Premier Explosives has received an order from an Israeli company for design, development, fabrication and assembly of rocket motors. The order value is $41,000 (about ₹30 lakh). The company shares were trading up 11.91 per cent at Rs 265 on the BSE. Read more
RCom shares fall
Shares of Anil Ambani-led Reliance Communications were trading down 0.06 per cent at Rs 15.45 as the Supreme Court has declined to grant it two weeks extra time to clear the ₹550 crore dues of Ericsson. The deadline for the payment falls on December 15. Read more
Benchmark indices were trading marginally higher as investors remained wary ahead of RBI central board meeting under new Governor Shaktikanta Das. The meeting will review the progress with respect of some of the decisions taken at the last meeting on November 19. It is also expected to take a stock of micro, small and medium enterprises, which is under stress due to demonetisation and implementation of the goods and services tax.
The meeting comes in the backdrop of sudden resignation by Urjit Patel earlier this week citing personal reasons. However, the tussle between the Finance Ministry and RBI was attributed as reason for the sudden exit of Patel, who would have completed his 3-year term in September 2019.
The Sensex was trading up 65.06 points or 0.18 per cent at 35,994.70 and the Nifty up 14.85 points or 0.14 per cent at 10,806.40.
Broker's call
Chola Securities
Escorts (Buy)
CMP: ₹659.65
Target: ₹1,057
Jain Irrigation bags Rs 584 cr order
Jain Irrigation Systems has bagged an order for an integrated micro irrigation project in Karnataka worth ₹584 crore. The company shares were trading down 0.15 per cent at Rs 66.15 on the NSE. Read more
IOC to buy back 30 crore shares
Indian Oil Corporation has announced share buyback of over 29.76 crore shares and also decided to give interim dividend at the rate of ₹6.75. These decisions will benefit the government and over 4.68 lakh investors of the company which also include 4.5 lakh individual investors. Read more
Broker's call
Centrum Broking
Ambuja Cements (Buy)
CMP: ₹218.75
Target: ₹230
Opening bell
The 30-share BSE index Sensex opened marginally higher by 30.55 points at 35,960.19 against the previous close of 35929.64 and the 50-share NSE index Nifty marginally down by 30.1 points at 10,761.45 against 10,791.55.
Day Trading Guide
Given below are supports and resistances for Nifty 50 futures and seven key stocks that can help in your intra-day trading:
₹2101 • HDFC Bank
S1 | S2 | R1 | R2 | COMMENT |
2085 | 2070 | 2115 | 2130 | Initiate fresh long positions with a stiff stop-loss if the stock reverses higher from ₹2,085 levels |
₹696 • Infosys
S1 | S2 | R1 | R2 | COMMENT |
685 | 675 | 705 | 715 | Near-term stance is bullish for the stock of Infosys. Buy in dips with a stop-loss at ₹685 levels |
₹275 • ITC
S1 | S2 | R1 | R2 | COMMENT |
272 | 269 | 278 | 281 | Consider initiating fresh long positions only if the stock of ITC advances above ₹278 levels |
₹143 • ONGC
S1 | S2 | R1 | R2 | COMMENT |
140 | 137 | 145 | 148 | Fresh long positions are recommended with a fixed stop-loss only if the stock moves beyond ₹145 levels |
₹1106 • Reliance Ind.
S1 | S2 | R1 | R2 | COMMENT |
1095 | 1080 | 1125 | 1140 | The stock tests a key resistance now. Go long with a stiff stop-loss if the stock climbs above ₹1,125 levels |
₹288 • SBI
S1 | S2 | R1 | R2 | COMMENT |
283 | 276 | 294 | 300 | Fresh long positions can be initiated with a tight stop-loss if the stock of SBI rebounds up from ₹283 levels |
₹1983 • TCS
S1 | S2 | R1 | R2 | COMMENT |
1960 | 1940 | 2000 | 2020 | Fresh long positions are recommended with a fixed stop-loss only if the stock rallies above ₹2,000 levels |
10824 • Nifty 50 Futures
S1 | S2 | R1 | R2 | COMMENT |
10775 | 10725 | 10875 | 10930 | Consider initiating fresh long positions with a tight stop-loss if the contract reverses higher from 10,775 levels |
S1, S2 : Support 1 & 2; R1, R2: Resistance 1 & 2.
9:00 am
Today's Pick
We recommend a buy in the stock of Titagarh Wagons at the current levels of ₹79.7. The stock has skyrocketed 18 per cent so far this week and still has room to extend its rally. Read more