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Stock Market Highlights: Sensex, Nifty end at record close; IT, pharma, metal stocks surge

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Stock Market Highlights: Indian indices ended at record close on Tuesday led by gains in IT, pharma and metal sectors as faster than expected recovery in the GDP growth also lifted sentiment. The Sensex ended 506 points higher at 44,655 while Nifty rose 140 points at 13,109. On the Nifty50 index, GAIL, Sun Pharma, IndusInd Bank, Tech Mahindra, and UPL were teh top gainers while Nestle, Kotak Bank, Titan, Bajaj Finance and HDFC Bank led the losses.

Stock Market Highlights: Sensex, Nifty end at record close; IT, pharma, metal stocks surge
  • Coronavirus News LIVE Updates: AP logs 685 new COVID-19 cases, four deaths push toll to 6,996

    Andhra Pradesh reported 685 fresh coronavirus cases, 1,094 recoveries and four deaths in 24 hours ending 9 AM on Tuesday. The state's Covid19 chart showed 8,68,749 total positives, 8,54,326 recoveries and 6,996 deaths so far.

  • Coronavirus News LIVE Updates: COVID-19's long-term impact could lead to more new HIV infections, warns UN

    The rapid spread of the novel coronavirus has created additional setbacks for the global AIDS response and there could be an estimated 123,000293,000 additional new HIV infections and 69,000148 000 additional AIDS-related deaths between 2020 and 2022 as a result of the COVID-19 pandemic's long-term impact, according to a new report. The Joint United Nations Programme on HIV/AIDS (UNAIDS) said in its new report 'Prevailing against pandemics by putting people at the centre' that as COVID-19 pushes the AIDS response even further off track and the 2020 targets are missed, countries must learn from the lessons of underinvesting in health and to step up global action to end AIDS and other pandemics.

  • Coronavirus News LIVE Updates: Maha sees 4,930 new COVID-19 cases, 6,290 recoveries; 95 die

    Maharashtra on Tuesday reported 4,930 fresh COVID-19 cases, taking the count of infections to 18,28,826, the state health department said. With 95 more patients succumbing to the viral infection, the overall toll mounted to 47,246, it said.

  • Thank you readers! Here are the key highlights from today's session

    - Market Regains Friday’s Losses; Sensex & Nifty Post Record Close

    - Nifty Closes Above 13,100 & Sensex 44,600 For The 1st Time Ever

    - Sensex Gains 506 Points To 44,655 & Nifty 140 Points To 13,109

    - Nifty Bank Advances 209 Points To 29,818 & Midcap Index 189 Points To 19,904


    - Except FMCG, All Sectoral Indices Record Gains; Realty & PSU Bank Top Gainers


    - 35 Nifty Stocks Close Higher; GAIL, Sun Pharma, IndusInd Top Gainers


    - Infosys, ICICI, RIL & HDFC Top Contributors To Nifty


    - Bajaj Auto & Maruti Move Higher Despite Reporting Sales Lower Than Estimates


    - M&M, Escorts Gain On Strong Tractor Sales; M&M Tractor Sales Up 56% YoY


    - Realty Stocks Continue To Gain On Improved Demand; Godrej Properties Up 2%


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

  • Closing Bell: Sensex, Nifty end at record close; all sectors in the green

    Indian indices ended at record close on Tuesday led by gains in IT, pharma and metal sectors as faster than expected recovery in the GDP growth also lifted sentiment. A pick-up in manufacturing helped GDP clock a lower contraction of 7.5 percent in Q2. The GDP had contracted by a record 23.9 percent in the June quarter of FY21. The Sensex ended 506 points higher at 44,655 while Nifty rose 140 points at 13,109. On the Nifty50 index, GAIL, Sun Pharma, IndusInd Bank, Tech Mahindra, and UPL were teh top gainers while Nestle, Kotak Bank, Titan, Bajaj Finance and HDFC Bank led the losses. Broader markets were also positive with the Nifty Midcap and Nifty Smallcap indcies up 1 percent each. All sectors also ended the day on a positive note with Nifty IT, Nifty Pharma and Nifty Metal up over 1.5 percent each.

  • Glenmark Pharma gets tentative nod from USFDA for cancer treatment drug


    Drug major Glenmark Pharma on Tuesday said it has received tentative approval from the US health regulator for Axitinib tablets, used in the treatment of kidney cancer. The tentatively approved product is the generic version of Inlyta tablets of PF Prism CV. Glenmark Pharmaceuticals Inc, USA has received tentative approval by the United States Food & Drug Administration (USFDA) for Axitinib tablets in the strength of 1 mg and 5 mg, the company said in a regulatory filing. Quoting IQVIA sales data for the 12 months ending October 2020, Glenmark Pharma said the Inlyta Tablets, 1 mg and 5 mg market achieved annual sales of approximately USD 518.8 million. Glenmark’s current portfolio consists of 166 products authorised for distribution in the US market and 45 ANDA’s pending approval with the USFDA.

  • SC rejects Chanda Kochhar's appeal against HC order dismissing her plea regarding termination


    The Supreme Court Tuesday rejected the appeal filed by Chanda Kochhar against the Bombay High Court order which had dismissed her plea against being removed as the managing director and CEO of ICICI Bank. Sorry, we are not inclined to interfere with the high court order, a bench headed by Justice Sanjay Kishan Kaul said.


    This falls within the realm of private bank and employee, the apex court said. The bench was hearing Kochhar’s appeal against the March 5 order of the high court which had dismissed the plea against termination of her services as managing director and CEO of ICICI Bank while noting that the dispute arises from a contract of personal service.

  • Lupin | Drug major Lupin has received US FDA approval for Penicillamine Tablets, indicated in the treatment of Wilson’s disease, Cystinuria, and in patients with severe, active rheumatoid arthritis who have failed to respond to an adequate trial of conventional therapy.

  • Eicher Motors November Sales | Total commercial vehicles (CV) sales rose 3.2 percent to 3,710 units from 3,594 units, YoY. Domestic CV sales increased 4.7 percent to 3,088 units from 2,948 units while CV exports declined 5.8 percent to 473 units as against 502 units, YoY.

  • IIFL Finance and Indiabulls' asset quality vulnerable, Muthoot better positioned: Moody's


    Asset quality at NBFCs, IIFL Finance and Indiabulls Housing Finance, is 'vulnerable', noted Moody’s in a recent report. However, another NBFC, Muthoot Finance is better positioned, it added. The vulnerability in asset quality in IIFL Finance and Indiabulls Housing is on the back of economic contractions. Even though both companies reported improvements in loan collections and relatively stable asset quality for the first half of FY21, yet they will inevitably face increases in loan delinquencies when government support measures end, the rating agency explained. However, Muthoot Finance is better positioned as a surge in gold prices aided loan recoveries and disbursements. Going forward, it added that modest loan growth and loan sales will help IIFL and Indiabulls maintain capitalisation despite the weakening of profitability. More here

  • Serum says 'Covishield' safe and immunogenic; clarifies volunteer’s illness not due to vaccine

    Amid concerns over the adverse event that was reported by a volunteer who participated in Serum Institute's vaccine trial, the company has issued a statement saying that ‘Covishield’ is safe and immunogenic. "The incident with the Chennai volunteer though highly unfortunate was in no way induced by the vaccine and Serum Institute of India is sympathetic with the volunteer's medical condition," said Serum Institute in a statement issued on Tuesday. The vaccine manufacturer clarified that all the requisite regulatory and ethical processes and guidelines were followed diligently and strictly. More here

  • Cryptocurrency sets new record at $19,860; one analyst sees $318,000 next year

    Cryptocurrency bitcoin soared to a record high against the dollar on Monday, boosted by increased demand from both institutional and retail investors. The digital unit touched an all-time peak of $19,864.15, breaking its prior record set nearly three years ago. It was last up 6.1 percent at $19,306.35. Last Friday, however, bitcoin dropped more than 8 percent, below $17,000, before rebounding on Monday. This year, the asset class saw a climb of 170 percent fuelled on the back of long list of positive triggers: Biden's huge victory, hopes of a fiscal and monetary stimulus, demand for riskier assets, Square's purchase of $50 million in BTC and PayPal's support for crypto operations. The eye-popping gains that BTC made this year is also due to its small quantity. The ownership of BTC remains highly concentrated in the hands of a small number of investors who are the early adopters of the digital currency. More here

  • Burger King IPO opens tomorrow: Key things to know before you invest
    Burger King India, the quick-service restaurant chain, is set to launch its initial public offer (IPO) for subscription on December 2. This would be the fourteenth IPO in the current year.Get latest…
    Stock Market Highlights: Sensex, Nifty end at record close; IT, pharma, metal stocks surge
  • India's manufacturing PMI slips to 3-month low in November

    India’s manufacturing sector activity lost momentum and fell to a three-month low in November amid slower increases in factory orders, exports and buying levels, a monthly survey said on Tuesday. The seasonally adjusted IHS Markit India Manufacturing Purchasing Managers’ Index (PMI) fell from 58.9 in October to a three-month low of 56.3 in November, indicating that the manufacturing sector growth remained strong, despite losing traction. In PMI parlance, a print above 50 means expansion, while a score below that denotes contraction. ”The Indian manufacturing sector remained on the right path to recovery, with strong growth of new orders and output sustained during November,” Pollyanna De Lima, Economics Associate Director at IHS Markit, said. More here

  • Crude alert: Oil drops as OPEC+ delays talks, raising supply alarm

    Oil prices fell on Tuesday as concerns over mounting supply returned to the fore after leading producers delayed talks on 2021 output policy that could extend cuts as the coronavirus pandemic continues to sap fuel demand. Brent crude was down 26 cents, or 0.5 percent at USD 47.62 a barrel by 0550 GMT, after dropping more than 1 percent on Monday. West Texas Intermediate was down by 23 cents, or 0.5 percent at USD 45.11 a barrel, having dropped 0.4 percent in the previous session. Still, both contracts surged around 27 percent in November after COVID-19 vaccine developments raised hopes of an economic recovery that could boost fuel demand. More here

  • Bottomline: Why the liquidity party may continue...

    Rising debt-to-GDP ratios may not be a worry and a swift rate reversal is likely off the table. This suggests a good time for India Inc to cash-up, and reason enough for investors not to exit the…
    Stock Market Highlights: Sensex, Nifty end at record close; IT, pharma, metal stocks surge
  • Toyota Kirloskar logs 2.4% rise in November sales

    Toyota Kirloskar Motor (TKM) on Tuesday reported a 2.4 percent increase in its domestic sales to 8,508 units in November. The Japanese automaker had sold 8,312 units in the domestic market in November 2019. ”The company has been witnessing a gradual yet steady recovery owing to factors such as pent up and festive season demand as well as the consolidation of the market at the lower end due to increasing preference for personal mobility amongst customers,” TKM Senior Vice President Sales and Service Naveen Soni said in a statement. An array of attractive offers and finance schemes have also helped the company to maintain momentum, thereby helping it achieve growth over wholesales when compared to the corresponding period last year, he added. More here

  • Gold rebounds from five-month lows as virus fears outweigh vaccine cheer


    Gold prices recovered from five-month lows on Tuesday as worries over spiking COVID-19 cases offset optimism around vaccine developments and nudged investors towards the precious metal. Gold clocked its worst monthly fall in four years on Monday, falling to $1,764.29 per ounce, the lowest level since July 2. "Gold has been a crowded trade for quite a while, so we're seeing a realignment of asset allocation away from gold and towards more risky assets as the (market) sentiment is improved," said Michael Langford, executive director at corporate advisory and consultancy firm AirGuide. More here

  • GDP contracts 7.5% in Q2: Here's what brokerages have to say

    India's economy recovered faster than expected in the September quarter as a pick-up in manufacturing helped GDP clock a lower contraction of 7.5 percent. The GDP had contracted by a record 23.9…
    Stock Market Highlights: Sensex, Nifty end at record close; IT, pharma, metal stocks surge
  • DLF shares jump 5% after co sells nearly 90 independent floors worth over Rs 300 crore

    The share price of DLF rose over 5 percent on Tuesday after the real estate firm announced that it has sold nearly 90 independent floors worth over Rs 300 crore in Gurugram. The company added that it plans to launch more such projects as demand for premium residential properties has revived in the last few months. The company plans to launch independent floors in DLF Phase I-IV at Gurugram, New Gurugram and Panchkula among others. The country’s largest realty firm is targeting to achieve sales bookings of Rs 2,500 crore in the ongoing fiscal, marginally better than the previous year, despite the COVID-19 pandemic. During the 2019-20 financial year, DLF’s sales booking stood at Rs 2,485 crore. More here

  • This auto stock could be a beneficiary of oil price hike

    Two and three-wheeler manufacturer Bajaj Auto on Tuesday reported a 5 percent rise in total sales for the month of November at 422,240 units as compared to 403,223 units in the same month last year. The company’s total domestic sales in November declined 4 percent to 198,933 units from 207,775 units while exports rose 14 percent to 223,307 units from 195,448 units, YoY. The stock could be a beneficiary of oil price hike as the company exports to oil facing economies like Egypt and Nigeria. The oil prices are up 25 percent in the month of November. For more, watch the video

  • Don't expect impact on volumes due to new margin norms; real effect will be seen from Sep 2021: Zerodha

    The concept of peak margin will come into force in a phased manner from today. The new norms are aimed at preventing brokerages from giving additional leverage to investors. From December 1, the maximum intra-day leverage that could be offered by a broker will be restricted with it reducing further until September 1, 2021. “The real kicker in terms of more leverage stalled will be from September 2021,” said Nithin Kamath, Founder & CEO of Zerodha, in an interview to CNBC-TV18.

    “However, starting today, what is going to change is there is a cap on maximum leverage that can be offered by brokerage. So the impact as such today may not be as much, but over the next 9 months the maximum leverages that can be offered at brokerages will keep reducing and traders will get used to that by then,” said Kamath. According to him, large brokers like Zerodha won't see an impact as it’s already holding margin. “Brokers at the tail-end would be impacted more,” he said. For the entire interview, watch video

  • JUST IN: Glenmark Pharma gets tentative approval by USFDA for Axitinib Tablets, 1 mg and 5 mg

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    Stock Market Highlights: Sensex, Nifty end at record close; IT, pharma, metal stocks surge
Stock Market Highlights: Indian indices ended at record close on Tuesday led by gains in IT, pharma and metal sectors as faster than expected recovery in the GDP growth also lifted sentiment. The Sensex ended 506 points higher at 44,655 while Nifty rose 140 points at 13,109. On the Nifty50 index, GAIL, Sun Pharma, IndusInd Bank, Tech Mahindra, and UPL were teh top gainers while Nestle, Kotak Bank, Titan, Bajaj Finance and HDFC Bank led the losses.

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