homemarket Newsstocks News

Stock Market Highlights: Sensex ends 259 points higher, Nifty above 13,900; financials, IT stocks lead

Stock Market Highlights: Sensex ends 259 points higher, Nifty above 13,900; financials, IT stocks lead

Stock Market Highlights: Sensex ends 259 points higher, Nifty above 13,900; financials, IT stocks lead
Read Time
Summary

Stock Market Highlights: Indian indices ended higher Tuesday led by gains in banks, financial and IT stocks. Broader markets underperformed the benchmarks with Nifty Midcap100 and Nifty Smallcap100 indices ending in the red. Among sectors, Nifty Private Bank gained the most followed by Nifty Financial Services, Nifty IT and Nifty PSU Banks.

Live Updates

Kanika Agarrwal, Co-founder and Chief Investment Officer, Upside AI

Volatile day for the markets today. Nifty went up led mainly by financials while the broader market was flat. For the next quarter, we remain bullish on value stocks and small caps. Key trends we are tracking are vaccine rollout, reaction to new strains and government commentary on the budget. Given the year-end and lower volumes, continue to expect volatile days going into the new year with pockets of stocks driving movement.

Dec 29, 2020 4:08 PM

Manish Hathiramani, Proprietary Index Trader and Technical Analyst, Deen Dayal Investments

The markets were a tad shy of hitting the 14,000 levels but that should be achieved sooner than later. The Nifty can climb towards 14,100 which should be the next level of resistance. The week's support is at 13,600 so traders can utilize intra-day corrections to initiate long positions for higher targets.

Dec 29, 2020 3:41 PM

Market At Close

Sensex & Nifty Post Record Close For 14th Time This Month

Financials Lift Market With HDFC, HDFC Bank & ICICI Bank Being Top Contributors

Nifty Gains 59 Points To 13,933 & Sensex 259 Points To 47,613

Nifty Bank Advances 442 Points To 31,323 While Midcap Index Slips 23 Points To 20,696

Market Breadth Slightly In Favour Of Declines; Advance-Decline Ratio At 1:1

6 Of Top 10 Nifty Gainers Are Financials; IndusInd, Axis, HDFC, ICICI Bank Top Gainers

Tata Motors Snaps 4-day Gaining Streak, Closes Tuesday Session 1.6% Lower

CAMS Gains For 3rd Straight Day, Closes Above `1,800/Sh

Dish TV Remains Under Pressure After Govt’s Notice Of `4,164 Cr For Licence Fee

Burger King Falls For 3rd Straight Day After Rising In Three Previous Sessions

BEML Fails To Hold Gains While CONCOR Gains Over 1% On EoI Reports

Dec 29, 2020 3:40 PM
Closing Bell: Sensex, Nifty end at record close led by banks, financials
The Sensex ended 259 points higher to its closing high of 47,613 while the Nifty rose 59 points to its record close of 13,932.Get latest Market online at cnbctv18.com
Stock Market Highlights: Sensex ends 259 points higher, Nifty above 13,900; financials, IT stocks lead
Dec 29, 2020 3:37 PM

Closing Bell | Indian equity benchmark indices, Sensex and Nifty ended higher Tuesday led by gains in banks, financial and IT stocks. The Sensex gained 0.55 percent or 259.33 points to end at 47,613.08, while the Nifty settled 59.40 points or 0.43 percent higher at 13,932.60. Broader markets underperformed the benchmarks with Nifty Midcap100 and Nifty Smallcap100 indices ending in the red. Among sectors, Nifty Private Bank gained the most followed by Nifty Financial Services, Nifty IT and Nifty PSU Banks. Meanwhile, Nifty Metal, Nifty Media, Nifty Pharma and Nifty Realty ended with losses.

Dec 29, 2020 3:36 PM
Dec 29, 2020 3:20 PM

Market Watch: Shrikant Chouhan, Kotak Securities

Cipla which is currently trading above the consolidation mark of Rs 820-825, the next level to watch out for is between Rs 875-880. We can keep stop loss at Rs 810 and look to buy Cipla at current levels.

IRCTC currently is forming some base building formation close to Rs 1,420-1,430 levels and the best part is that the stock is ready to move to the levels of Rs 1,550-1,560 based on its intraday charts. So, it is a buy at current levels with a stop loss at Rs 1,370.

Dec 29, 2020 3:17 PM

SAIL turnaround a challenging experience in 36-yr-long career, says outgoing Chairman

The turnaround of SAIL from several quarters of losses was one of the most challenging experience, said Anil Kumar Chaudhary, the outgoing Chairman of the country’s largest steel maker. The Chairman said he also wants to see SAIL paying back at least 50 percent of its debt in the near future.

Chaudhary who had joined SAIL as a Junior Manager in 1984 would be superannuating from the top post on December 31, 2020, after serving the company for almost 36 years in various roles. Read here.

Dec 29, 2020 3:04 PM
Dec 29, 2020 2:47 PM

Kotak Institutional Equities positive on SBI Cards; initiates coverage with target price of Rs 900

Kotak Institutional Equities has initiated coverage on the SBI Cards with a target price of Rs 900. They are positive on SBI Cards on the back of strong revenue growth from the underpenetrated payments play.

A highly profitable lending book and a strong parentage also seen as a benefit for the company. Read here.

Dec 29, 2020 2:36 PM
CNBC-TV18 Exclusive: Enam may back out of deal with Oaktree for DHFL’s insurance biz
Enam was in talks with Oaktree to jointly bid for Pramerica Life Insurance Limited (PLIL), the insurance joint venture of DHFL.Get latest Finance online at cnbctv18.com
Stock Market Highlights: Sensex ends 259 points higher, Nifty above 13,900; financials, IT stocks lead
Dec 29, 2020 2:24 PM

Glenmark Pharma launches Remogliflozin, Vildagliptin in India

Glenmark Pharmaceuticals has launched a fixed dose combination (FDC) of its novel, patent protected and globally researched Sodium Glucose Co-Transporter Inhibitor (SGLT2i) - Remogliflozin Etabonate and another widely used DPP4 inhibitor (Dipeptidyl Peptidase 4 inhibitor) – Vildagliptin, in India.

The fixed drug combination is indicated for the management of Type 2 diabetes. The combination will contain Remogliflozin (100 mg) + Vildagliptin (50 mg) in a fixed dose and must be taken twice daily to improve glycemic control in patients. Glenmark has launched the same under two brand names Remo V and Remozen V.

Dec 29, 2020 2:15 PM
Dec 29, 2020 1:58 PM

Allied Digital Services LLC, (USA) bags multi-rear deals worth TCV of $ 21.8 million

Allied Digital Services LLC, USA Company of Allied Digital Services Ltd has bagged 3 multi-year prestigious services deals with collective total contract value of $21.8 million (Rs 160 crore) from leading customers across Healthcare, Finance and Automobile segments in this quarter.

Allied Digital USA will transform the Infrastructure Management, Edge Computing and User Computing across a wide range of technology platforms, operations and geographies, the company said.

Shares of Allied Digital Services were locked at upper circuit of 5 percent at Rs 33.95 apiece on the BSE.

Dec 29, 2020 1:46 PM

Lupin launches Mycophenolate Mofetil tablets

Pharma major Lupin announced launch of Mycophenolate Mofetil Tablets USP, 500 mg, after Lupin’s alliance partner Concord Biotech received approval for its ANDA from the United States Food and Drug Administration.

Mycophenolate Mofetil Tablets USP, 500 mg, are the generic equivalent of CellCept® Tablets of Roche Palo Alto LLC, indicated for the prophylaxis of organ rejection in recipients of allogeneic kidney, heart or liver transplants, and should be used in combination with other immunosuppressants.

Mycophenolate Mofetil Tablets USP (RLD: CellCept®) had an annual sales of approximately USD 87 million in the US.

Dec 29, 2020 1:29 PM

Top Budget Opinions

    Most Read

    Market Movers

    View All
    Top GainersTop Losers
    CurrencyCommodities
    CompanyPriceChng%Chng