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Stock Market Highlights: Sensex, Nifty end at record close; banks, metals lead

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Stock Market Highlights: Indian indices ended at record close on Monday, tracking gains in Asian peers as progress on COVID vaccine lifted investor sentiment. bank home, gains were led by bank, financials, metal and pharma sectors. However, broader markets continued to outperform benchmarks with the Nifty Midcap and Nifty Smallcap indices up more than half a percent each.

Stock Market Highlights: Sensex, Nifty end at record close; banks, metals lead
  • Thank you readers! Here are the key highlights from today's session


    - Sensex & Nifty End At Record Closing Highs Amid Volatility


    - Nifty Gains 44 Points To 13,558 & Sensex 154 Points To 46,253


    - Nifty Bank Climbs 141 Points To 30,746 & Midcap Index 134 Points To 20,571


    - PSU Companis Amongst Top Gainers Today With Nifty CPSE Up Over 3%


    - BPCL, IOC, NTPC, Coal India & ONGC Gain 2-6%


    - Cipla Moves 4% Higher On Co’s Settlement For Revlimid Generic Litigation


    - Burger Kings Makes Strong Debut; Closes At 135 Vs Issue Price Of 60


    - Autos See Profit Booking; Eicher, Hero & M&M Top Nifty Losers


    - Market Breadth Favours Advances; Advance-Decline Ratio At 2:1

  • Closing Bell: Sensex, Nifty end at record close; broader markets outperform

    Indian indices ended at record close on Monday, tracking gains in Asian peers as progress on COVID vaccine lifted investor sentiment. bank home, gains were led by bank, financials, metal and pharma sectors. The Sensex ended 154 points higher to its record close of 46,253 while the Nifty rose 44 points to its closing high of 13,558. In intraday deals as well, The Sensex hit its all-time high of 46,373, rising as much as 274 points while the Nifty climbed its record high of 13,597, up as much as 83 points.

    Broader markets, however, outperform benchmarks during the day with the Nifty Midcap and Nifty Smallcap indices up 0.5-1 percent each. On the Nifty50 index, ONGC, L&T, Cipla, Coal India, and IOC were the top gainers while Eicher Motors, Hero Moto, M&M, HDFC Life and Tech Mahindra led the losses. Among sectors, all except Nifty Auto and Nifty Realty, ended in the green. The Nifty Metak index rose 1.4 percent while the Nifty Bank, Nifty Fin Servcies and Nifty IT added 0.4 percent each. Nifty Pharma was also up 0.7 percent for the day. Meanwhile, Nifty Auto fell 1 percent and Nifty Realty lost 0.9 percent.

  • Sugar export subsidy: Cabinet likely to clear on Wednesday

    The Union Cabinet may clear the sugar export subsidy on Wednesday, said All India Sugar Trade Association (AISTA) chairman Praful Vithalani on Monday. “As per industrial sources, within next some days, maybe Wednesday this can go through and it will be more helpful to the industry and farmers so it will be a support to the domestic prices,” Vithalani said. On sugar buffer stocks, Vithalani said, “I am not surprised that in this season 2020, India may divert sugar of 20 lakh metric tonne to ethanol. Because this will help the government to avoid a buffer stock, though we need it of course but I think this will prove helpful that 20 lakh metric tonne sugar will be diverted for ethanol.”

  • Larsen & Toubro | L&T Construction has bagged contracts in the range of Rs 1,000-2,500 crore for various businesses.

  • Sanjay Kumar, CEO & MD, Elior India

    The increasing trend in wholesale price inflation is essentially a mixed bag. At one end, hopefully, the price rise is on the back of increased demand and not because of an increase in input cost for manufacturing, because that would be a cause of concern as it would mean that the logistics and supply chain cost are driving inflation.

    If it is not that and is driven purely by demand, then it is a welcome sign as it signals an improvement in the economy, however, one would have to watch with caution whether the RBI decides to tighten the monetary policy in view of the rising inflation.

  • Mrs. Bectors Food Specialities IPO opens tomorrow; key things to know

    The Rs 540.54 crore-IPO of the bread and biscuit maker Mrs. Bectors Food Specialties Ltd will open for subscription on December 15 at a price band of Rs 286-288 per share.Get latest Market online at…
    Stock Market Highlights: Sensex, Nifty end at record close; banks, metals lead
  • Yes Securities adds ICICI Bank, CAMS to model portfolio


    Domestic brokerage Yes Securities has made changes to its model portfolio for investors. The brokerage has added ICICI Bank and CAMS to its portfolio while removing Reliance Industries PP and Tata Consumer Products and booked profits. ICICI Bank has 4 percent weight in the portfolio and CAMS has 3 percent weight. Tata Consumer Products had 3.1 percent weight in the portfolio while Reliance Industries PP formed 0.7 percent of the portfolio. Click here for rationale

  • Have been investing in value stocks, says BNP Paribas’ Manishi Raychaudhuri

    Indian valuations are expensive but one needs to factor in low interest rates as well, said BNP Paribas’ Manishi Raychaudhuri on Monday. Speaking with CNBC-TV18, Raychaudhuri also said that earnings upgrades in India are encouraging. Raychaudhuri said that the BNP Paribas is incrementally moving into the value stocks. “We have increased position in materials, in some pockets of industrials, also consumer discretionary, the classic value picks,” he said. Raychaudhuri also said that they continue to remain invested in tech stocks and believe the companies will continue to do well. In commodities, he likes the metals pack but advised caution while picking stocks. Watch video for more
     

  • Investment will not come in unviable power sector, says R K Singh


    Power Minister R K Singh on Monday expressed concerns about the sustainability of state-owned loss-making discoms saying investments in the power sector will not come unless there is viability in the system. ”Investment will not come unless and until there is viability in the system, unless and until the people who put money are assured that power they generate and sell will be paid for. That is the basic problem of sustainability we are facing,” Singh said at the 93rd annual general meeting of industry chamber FICCI. Singh’s statement assumes significance as India aims to move towards higher economic growth rate which requires an efficient and vibrant power sector. The minister further said, ”I am worried about sustainability (of discoms) because a large number of discoms are loss making. Most of the state-owned discoms are loss making. None of the private-owned discoms are loss making as their aggregate technical and commercial (AT&C) losses are below norm.” The minister further explained that the discoms are not able to pay for the power supply from gencos because they are making losses, ”which causes stress upstream and dampens investment”.

  • CNBC-TV18 Exclusive: Evaluation committee on BPCL strategic sale to meet Tuesday to evaluate EoIs


    The evaluation committee on the Bharat Petroleum Corp Ltd (BPCL) strategic stake sale will meet tomorrow, i.e. December 15, to evaluate the 3 expressions of interest (EoI) received for the OMC major, exclusive oil ministry sources informed on Monday. The committee said that they are not concerned about oil gains not participating in BPCL's sale process. Additionally, they assured about business continuity post-BPCL's strategic stake sale, sources further informed. 3 EoIs have been received for BPCL from Vedanta, Apollo Global, and Think Gas. The government is selling 52.98 percent stake in BPCL under strategic sale. The government in November received 'multiple' bids for buying out its stake in India's second-biggest fuel retailer BPCL but billionaire Mukesh Ambani's Reliance Industries as well as supermajors Saudi Aramco, BP and Total did not make a bid.

  • Macquarie lists 7 largecap ideas with a potential upside of over 20%

    Global brokerage firm Macquarie carries a 60 bps 'overweight' position on India, which is down from over 80 bps in February 2020 and 130 bps in December 2019. In a recent report, Macquarie noted that…
    Stock Market Highlights: Sensex, Nifty end at record close; banks, metals lead
  • Subscription revenues to be key driver; building infra for streaming: Sun Group


    Sun TV has seen a dramatic recovery in ad revenue, but the recovery may not be sharp enough to recover the deficit of first six months, said SL Narayanan, Group CFO of Sun Group. “We have seen a dramatic recovery of sorts. We saw a sharp recovery in the second quarter and Q3 has been even better,” he said in an interview to CNBC-TV18.

    “I think subscription will perhaps become the mainstay of media companies like ourselves. 9 years ago when I joined Sun, our subscription revenues were averaging around Rs 85 crore a quarter which was Rs 340 crore run rate annually. That number has almost touched Rs 2,000 crore 9 years down the line and we are only seeing greater momentum in subscription. So, my own guess at this time is subscription will perhaps become the mainstay of media companies,” he said. e also said that they have been working on building infrastructure for streaming segment in last 3-4 years and are looking at spending about Rs 200 crore on acquisition of content. More here

  • SC on Loan Moratorium LIVE Updates: Justice Ashok Bhushan bench to resume hearing today
    SC on Loan Moratorium LIVE Updates: The Supreme Court will continue hearing in the loan moratorium or interest waiver case on Monday. A bench of Justices Ashok Bhushan, R S Reddy and M R Shah will…
    Stock Market Highlights: Sensex, Nifty end at record close; banks, metals lead
  • Gold rate today: Yellow metal falls near Rs 49,000 per 10 grams

    Gold prices in India traded lower on the Multi Commodity Exchange (MCX) Monday tracking a weak trend in the international spot prices as the rollout of coronavirus vaccine in various countries dampened safe-haven appeal, analysts said. At 11:10 am, gold futures for February delivery fell 0.67 percent to Rs 48,993 per 10 grams as against the previous close of Rs 49,324 and the opening price of Rs 49,101 on the MCX. Silver futures traded 0.85 percent lower at Rs 63,191 per kg. The prices opened at Rs 63,482 as compared to the previous close of Rs 63,735 per kg. The prices of precious metals remained rangebound last week on mixed cues amid uncertainty over US stimulus and recovery in the dollar index from their lows. More here

  • IRCTC shares jump 6% on successful completion of OFS


    Shares of Indian Railway Catering and Tourism Corporation (IRCTC) jumped nearly 6 percent on Monday after the firm's offer for sale (OFS) concluded successfully on Friday, where the government divested a 20 percent stake in the firm. The Government of India sold 3.2 crore shares, which will raise Rs 4,374 crore for the exchequer starved of funds due to the COVID-19 crisis. The retail investor's portion of the OFS was fully subscribed while the institutional investor portion was subscribed 1.34 times.  Post the share sale, the government's stake in IRCTC will reduce to 67.4 percent from 87.4 percent earlier.

  • KEC International secures orders worth Rs 1438 crore


    KEC International, the flagship company of RPG Enterprises, has secured orders worth Rs 1,438 crore and it expects to complete new orders within 12-18 months. Speaking in an interview with CNBC-TV18, Vimal Kejriwal, MD & CEO of the company said, “With this order intake our total order for the year is around Rs 5,800 crore and the total order book is around Rs 18,700 and we have L1 of Rs 5,600 crore. So our order book and L1 together is Rs 24,000 crore.” He said his company expects the margin to be between 8 percent and 10 percent for the new orders. According to him, the order intake has been slower compared to last year but by end of Q4, he expects the orders to pick up. More here

  • CNBC-TV18 Exclusive: Deadline for revised bids for DHFL ends; 3 suitors submit new bids

    The deadline to submit revised bids for the bankrupt Dewan Housing Finance Limited (DHFL) has ended, banking sources told CNBC-TV18, adding that 3 suitors have submitted new offers. Three of the four existing suitors have submitted revised offers. The sources added that the Adani Group has submitted bids under 2 options - the entire portfolio, and wholesale & SRA books. Meanwhile, the Piramal Group has placed bids for its entire portfolio or its retail assets. Oaktree Capital has, on the other hand, submitted a bid for the entire portfolio of DHFL. SC Lowy, however, has not submitted any revised offer. It had bid for the firm's SRA portfolio earlier. The DHFL creditors committee will meet today and evaluate all bids received, added the sources. More here

  • Cipla shares rally 4% after it settles litigation with Celgene Corp for cancer drug Revlimid

    Cipla shares rallied more than 4 percent in early trade on Monday after the phamra company announced the settlement of its litigation with Celgene Corporation relating to patents for cancer drug Revlimid (lenalidomide). In an exchange filing, Cipla said that as part of the settlement, the parties will file Consent Judgments with the United States District Court for the District of New Jersey that enjoin Cipla from marketing generic lenalidomide before the expiration of the patents-in-suit, except as provided for in the settlement. In settlement of all outstanding claims in the litigation, Celgene has agreed to provide Cipla with a license to Celgene’s patents required to manufacture and sell certain volume-limited amounts of generic lenalidomide in the United States beginning on a confidential date that is some time after March 2022. More here

  • Technical View | While the markets have opened on a positive note this morning, we must not lose sight of the fact that we are in a patch of resistance. This range is between 13,400-13,700. The Nifty is currently trading around the upper end of this range. Unless we do not get past 13,700 or break 13,400, we will not see a convincing rally up or down. There is strong support around the 13,350-13,400 range and as long as that holds, traders can utilise dips to accumulate long positions, says Manish Hathiramani, Proprietary Index Trader and Technical Analyst, Deen Dayal Investments.

  • Burger King India shares list at Rs 112.50 on NSE
    Shares of quick-service restaurant chain's Burger King India listed at Rs 112.50 apiece on the NSE as against the issue price of Rs 60 per share.Get latest Market online at cnbctv18.com
    Stock Market Highlights: Sensex, Nifty end at record close; banks, metals lead
  • Market quote from VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services


    "FPI buying continues unabated pushing the benchmark indices to record levels. FIIs have invested Rs 12300 crores so far in December on top of the record Rs 60300 crores invested in November. When money flows like this, the market has only one way to go - up. But investors should remember that valuations are high and risky. A sharp surge in Covid infections in US, the recent spike in infections in Germany, S Korea, etc, the farmer agitation lingering without a settlement and the possibility of a Brexit without a deal are areas of concern. Investors have to be cautious"

  • Monday's top brokerage calls: Cipla, metals and more
    Among brokerages, Credit Suisse raises the target price for Cipla while Nomura remained bullish on the stock after the company’s settlement for Revlimid Generic. Also, CLSA expects the rally in the…
    Stock Market Highlights: Sensex, Nifty end at record close; banks, metals lead
  • Opening Bell: Sensex, Nifty open at record highs as progress on COVID vaccine lift investor hopes

    Indian indices opened at record high on Monday, tracking gains in global peers, as progress on coronavirus vaccines cheered risk sentiment. The Sensex rose as much as 248 points to its new high of 46,346.90 while th Nifty also gained 74 points to its record high of 13,588. On the Nifty50 index, Cipla, IOC, Coal India, L&T and ONGC were the top gainers while Eicher Motors, Dr Reddy's Nestle, HDFC Life and Tech Mahindra led the losses. Broader markets were also higher with the Nifty Midcap index up 0.5 percent and Nifty Smallcap index jumping over 1 percent. Among sectors, all barring the realty index were in the green. Nifty Metal surged the most, up 1.5 percent while Nifty Pharma added 0.9 percent. Nifty Bank, Nifty Auto, Nifty FMCG, also rose arouns 0.3-0.5 percent. 

  • Top stock tips by Sudarshan Sukhani, Mitessh Thakkar, Rahul Mohindar for Monday

    CNBC-TV18’s in-house panel of experts has laid down a list of stocks for the investors to buy/sell in trade today.Get latest Market online at cnbctv18.com
    Stock Market Highlights: Sensex, Nifty end at record close; banks, metals lead
  • JUST IN: L&T Technology has been selected by Schindler, the Switzerland-based provider of elevators, escalators, moving walks and related services as one of its partners to provide innovative digital engineering capabilities

Stock Market Highlights: Indian indices ended at record close on Monday, tracking gains in Asian peers as progress on COVID vaccine lifted investor sentiment. bank home, gains were led by bank, financials, metal and pharma sectors. However, broader markets continued to outperform benchmarks with the Nifty Midcap and Nifty Smallcap indices up more than half a percent each.

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