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Stock Market Highlights: Market ends at over record high levels led by financials, RIL; Nifty Media closes 3.7% higher

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Stock Market Highlights: Indian equity benchmark indices, Sensex and Nifty ended over record high levels on Wednesday led by gains in Reliance Industries, HDFC Bank and Infosys. The Sensex hit 46,000 level for the first time while Nifty also crossed 13,500 level. Broader markets, Nifty Smallcap100 and Nifty Midcap100 also lent support to the market. 1,110 stocks on the NSE ended with gains while 786 declined.

Stock Market Highlights: Market ends at over record high levels led by financials, RIL; Nifty Media closes 3.7% higher
  • Here are the key highlights from today's trading session:

    1. Market posts record close for 7th straight day

    2. Sensex hit intra-day record high of 46,164 & Nifty 13,549

    3. Nifty gains 136 points to 13,529 & Sensex 495 points to 46,104

    4. Nifty Bank moves 448 points higher to 30,709 & Midcap 124 points to 20,563

    5. 33 Nifty stocks close higher; UPL, Asian Paints, IOC, Kotak Bank top gainers

    6. Private Bank gains the most amongst indices, led by HDFC Bank, Kotak Bank & ICICI Bank

    7. HDFC Bank & Kotak Bank contribute over 80% to Nifty Bank's gain today

    8. Yes Bank closes at upper circuit after an upgrade of its debt instrument 

    9. PVR, Eveready, Praj, REC, Cummins amongst top midcap gainers

    10. Market breadth favours advances; advance-decline ratio at 3:2

    11. BSE gains market cap of nearly Rs 9 lakh crore December so far

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  • Here are the key highlights from today's trading session:

    1. Market posts record close for 7th straight day

    2. Sensex hit intra-day record high of 46,164 & Nifty 13,549

    3. Nifty gains 136 points to 13,529 & Sensex 495 points to 46,104

    4. Nifty Bank moves 448 points higher to 30,709 & Midcap 124 points to 20,563

    5. 33 Nifty stocks close higher; UPL, Asian Paints, IOC, Kotak Bank top gainers

    6. Private Bank gains the most amongst indices, led by HDFC Bank, Kotak Bank & ICICI Bank

    7. HDFC Bank & Kotak Bank contribute over 80% to Nifty Bank's gain today

    8. Yes Bank closes at upper circuit after an upgrade of its debt instrument 

    9. PVR, Eveready, Praj, REC, Cummins amongst top midcap gainers

    10. Market breadth favours advances; advance-decline ratio at 3:2

    11. BSE gains market cap of nearly Rs 9 lakh crore December so far

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  • Closing Bell: The Indian market continued to break the record high levels on Wednesday led by a positive global sentiment. The Sensex ended 1.1 percent higher at 46,103 while the Nifty50 index settled at 13,529, up 1 percent. This is the seventh straight day of gains for the benchmarks. 

    Among sectoral indices, Nifty Media remained the best-performing index of the day, ending 3.7 percent higher. Nifty Realty and Nifty IT indexes also ended higher today, over 1 percent. 

    UPL, Asian Paints, Indian Oil Corporation, Kotak Mahindra Bank and HDFC Bank were the Nifty50 top gainers while Hindalco, Shree Cement, UltraTech Cement, Wipro and Tata Steel remained the index losers. 

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  • Sharekhan on TVS Motor Company: Broking house maintained buy rating with a target at Rs 570. Company is witnessing strong recovery in domestic demand with sales volume in the festive season. Sales enquiry is strong after the festive season, underpinning our view of genuine demand in the 2W segment. Research house expects strong recovery from FY2022, driven by normalisation of economic activity. Margins are expected to improve, driven by operating leverage and cost-control measures.

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  • Buzzing Stock: Mukand share price hit 10 percent upper circuit after the company agreed for transfer of its leasehold land admeasuring 2,19,938 sq. metres., together with the structures standing there on, situated at Trans Thane Creek Industrial Area , Dighe and Navi Mumbai, Taluka, sub-district and district Thane for a lumpsum consideration of Rs 679.25 crore.

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  • Vishnu Kapadia From MJK Investments on Mrs Bectors Food: Based on competitive intensity of the industry that the company operates in, weak brand recallibilty and not so good return ratios weigh against the company. The fact that company waited for two years to find a better environment to launch their IPO and private equity investors exiting at meagre profit makes us a bit skeptical. Current optimism suits investors looking for listing gains in this company.

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  • Ambuja Cement fails to hold on to recovery, slips to day's low.

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  • Gold rate today: Yellow metal trades below Rs 50,000 per 10 gms; Silver falls over 1%


    Gold prices in India traded lower on the Multi Commodity Exchange (MCX) Wednesday following a weak trend in the international spot prices as positive developments over coronavirus vaccine dented safe-haven its appeal, analysts said.

    At 10:35 am, gold futures for February delivery fell 0.73 percent to Rs 49,745 per 10 grams as against the previous close of Rs 50,109 and the opening price of Rs 49,850 on the MCX. Silver futures traded 1.10 percent lower at Rs 64,477 per kg. The prices opened at Rs 64,521 as compared to the previous close of Rs 65,192 per kg.

    “Gold prices are unable to sustain above Rs 50,000 level. Encouraging COVID-19 vaccine news and a technical pullback is dragging the precious metal prices,” said Ajay Kedia, director, Kedia Commodity Comtrade. Read more

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  • Yash Gupta Equity Research Associate, Angel Broking: Mindspace Business Parks REIT stock up by 0.2% on positive development of board approval for raising Rs 200 crore by issuing debentures in private placement. Mindspace Business Parks REIT India's second listed REIT has approved the issue of secured, listed, senior, taxable, non-cumulative, rated, redeemable, non-convertible debentures by Mindspace REIT on a private placement basis for an aggregate amount of upto Rs 200 crores in one or more tranches. This is positive development for the company. This will help Mindspace to execute projects in near time and increase gross leasable area for the REIT.

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  • Sources say Union Agriculture Minister Narendra Singh Tomar prepares proposal of amendments in all 3 #FarmLaws. Proposed amendments to be sent to  Home Minister Amit Shah for review.

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  • Anil Kumar Bhansali - Head, Treasury, Finrex Treasury Advisors: USD/INR is in a sell off mode as RBI is not their consistently I believe. So all upticks have to be sold. If we get 73.80 and 90 today we should sell our near term exports. The flows are coming in on a daily basis to the tune of $700 to 800 mio are flowing in which is clearly indicated by the FPIs buying in shares and flows coming in Debt market too. Importers to convert only cash or very near term payables for the present.

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  • Fresh Update: National Stock Exchange of India (NSE) on December 9 announced the listing of American Depository Receipts (ADRs) at NSE International Exchange (NSE IFSC).

    A statement by the NSE said that its wholly-owned subsidiary NSE IFSC had become the first international exchange in GIFT City to list ADRs, with Dr. Reddy’s Laboratories Ltd being the first Indian corporate to do a secondary listing of their ADRs at NSE IFSC.

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  • Nifty above 13,400 warrants caution; correction likely, say experts
    Experts believe the sharp run-up in the domestic market warrants caution. Get latest Market online at cnbctv18.com
    Stock Market Highlights: Market ends at over record high levels led by financials, RIL; Nifty Media closes 3.7% higher
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  • Buzzing | Shares of Indian Bank rallied over 9 percent intraday after the lender raised Rs 1,048 crore by issuing bonds on a private placement basis.

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  • Yash Gupta Equity Research Associate, Angel Broking Ltd

    Mindspace Business Parks REIT stock up by 0.2% on the positive development of board approval for raising Rs 200 crore by issuing debentures in private placement. Mindspace Business Parks REIT India's second listed REIT has approved the issue of secured, listed, senior, taxable, non-cumulative, rated, redeemable, non-convertible debentures by Mindspace REIT on a private placement basis for an aggregate amount of upto Rs 200 crore in one or more tranches. This is a positive development for the company. This will help Mindspace to execute projects in near time and increase gross leasable area for the REIT.

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  • Market Watch: Ruchit Jain, Angel Broking

    Reliance Industries Ltd (RIL) is looking positive. We could see levels of Rs 2,060 followed by Rs 2,100 in short-term.

    One can go long on Mahanagar Gas Ltd (MGL) with a stop loss of Rs 1,030 and a target of Rs 1,100.

    One can buy Tata Coffee with a stop loss of Rs 107 and a target of Rs 120.

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  • Update | NSE arm NSE International Exchange becomes the first International Exchange in GIFT City to list American Depository Receipts (ADRs), with Dr. Reddy’s being the first Indian corporate to do a secondary listing of their ADRs at NSE IFSC.

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  • Gold rate today: Yellow metal trades below Rs 50,000 per 10 gms; Silver falls over 1%
    Gold prices in India traded lower on the Multi Commodity Exchange (MCX) Wednesday following a weak trend in the international spot prices as positive developments over coronavirus vaccine dented safe…
    Stock Market Highlights: Market ends at over record high levels led by financials, RIL; Nifty Media closes 3.7% higher
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  • Buzzing | Yes Bank shares hit 10% upper circuit for second consecutive day

    Shares of Yes Bank were locked in a 10 percent upper circuit for the second consecutive day on Wednesday after the company received a credit rating upgrade for its debt instrument. The stock gained as much as 9.9 percent to Rs 19.05 apiece on the BSE.

    In an exchange filing, Yes Bank said that Brickwork Ratings upgraded the rating on Tier I Subordinated Perpetual Bonds (Basel II) to BWR BB+/Stable from BWR D.

    The rating upgrade factors in improvement in capitalization ratios of the bank, strong shareholder base and experienced board members, it added.

    Reports earlier said that the stock will be upgraded to the large-cap category from mid-cap by mutual fund industry body Association of Mutual Funds in India (Amfi). Read more here.

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  • Sameet Chavan, Chief Analyst-Technical and Derivatives, Angel Broking: Market continues its dream run and it's one of such rarest phases when it just refuses to fall and keeps giving the gravity defying move. As we have been mentioning for a few days, although it's always a soothing factor for the market not correcting; but at the same time, there will always be a hanging sword of the market surprising with a sudden correction any time. Hence, to be on the safer side, we are advocating booking profits in the ongoing rally. 

    The level of 13,450-13,500 continues to be a key resistance zone; whereas on the lower side, crucial support base shifts at 13,300 - 13,250 now. A move below this support zone would result in an extended correction.

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  • Muthoot Finance

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  • Stock Update: ICICI Bank share price gained in the early trade after the company approved to sell its stake in ICICI Securities via offer for sale (OFS). The bank plans to sell up to 2.21 percent stake in ICICI Securities. The company's board approved the sale of up to 7,121,403 equity shares of face value Rs 5 each of ICICI Securities, representing up to 2.21 percent of its issued and paid-up equity share capital, through an offer for sale through the stock exchange mechanism.

    The floor price for OFS has been set at Rs 440 and will be carried out on December 9 and 10. Just after the market opening, the stock was trading 4 percent to Rs 512.45 apiece.

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  • Manish Hathiramani, Proprietary Index Trader and Technical Analyst, Deen Dayal Investments: The markets have once again opened on an enthusiastic note but we are still in the midst of the resistance zone of 13400-13700. Regular booking of profits would be a prudent way of approaching the index. While the trend is bullish, traders must trade cautiously and upgrade to stop losses so as to conserve their profits. 13100 is good support for this week.

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  • Aurobindo Pharma gets US FDA nod for sedative dexmedetomidine injection: Aurobindo Pharma received final approval from the US Food & Drug Administration to manufacture and market Dexmedetomidine Hydrochloride in 0.9 percent Sodium Chloride Injection, 200 µg/50 mL and 400 µg/100 mL Single Dose flexible containers (Bags). It is a therapeutic equivalent generic version of Hospira’s Precedex in 0.9 percent Sodium Chloride Injection. The product will be launched in January 2021.

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  • Aurobindo Pharma

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  • Siemens

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  • ICICIdirect: USD-INR December futures appreciated sharply in the last session and made lows near 73.67. We continue to believe that higher levels should remain a shorting opportunity considering continued FII flows in emerging markets.

    The dollar-rupee December contract on the NSE was at 73.74 in the last session. The open interest increased marginally by 2.98% for the December series contract, it added.

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  • Opening Bell: Indian equity benchmark indices opened higher on Wednesday following positive global cues as optimism over the coronavirus vaccine boosted investors' sentiment. At 9:15 am, the Sensex opened 0.62 percent, or 282.53 points, higher at 45,891.04, while the Nifty50 index opened at 13,458.10, up 65.15 points, or 0.49 percent.

    Broader markets supported the gains in the market with Nifty Smallcap100 and Nifty Midcap100 indices up 0.7 percent each.

    All the sectors were trading in the green led by Nifty PSU Bank, Nifty Metal, Nifty FMCG, Nifty Realty and Nifty Financial Services.

    Among sectoral indices, the Nifty Metal index saw the most gains, trading 2.49 percent higher. Nifty Auto reported the least gain compared to its peers, trading 0.65 percent higher in the early morning session.

    UPL, ITC, IndusInd Bank, ONGC and SBI Life Insurance were the Nifty50 top gainers, while UltraTech Cement, Eicher Motor, Cipla, Shree Cement and Maruti Suzuki were the top index losers.

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Stock Market Highlights: Indian equity benchmark indices, Sensex and Nifty ended over record high levels on Wednesday led by gains in Reliance Industries, HDFC Bank and Infosys. The Sensex hit 46,000 level for the first time while Nifty also crossed 13,500 level. Broader markets, Nifty Smallcap100 and Nifty Midcap100 also lent support to the market. 1,110 stocks on the NSE ended with gains while 786 declined.

Market Movers

CompanyPriceChange%Gain
Asian Paints3,042.20 92.30 3.13
Axis Bank750.90 14.65 1.99
ICICI Bank645.30 10.15 1.60
HDFC Life692.55 10.85 1.59
HUL2,391.95 27.35 1.16
CompanyPriceChange%Gain
Asian Paints3,041.85 93.75 3.18
Axis Bank750.75 14.50 1.97
ICICI Bank645.05 9.95 1.57
HUL2,391.15 26.30 1.11
IndusInd Bank1,033.55 9.35 0.91
CompanyPriceChange%Gain
Asian Paints3,042.20 92.30
Axis Bank750.90 14.65
ICICI Bank645.30 10.15
HDFC Life692.55 10.85
HUL2,391.95 27.35
CompanyPriceChange%Gain
Asian Paints3,041.85 93.75
Axis Bank750.75 14.50
ICICI Bank645.05 9.95
HUL2,391.15 26.30
IndusInd Bank1,033.55 9.35

Currency

CompanyPriceChng%Chng
Dollar-Rupee73.31250.04250.06
Euro-Rupee88.94300.27100.31
Pound-Rupee103.33400.08400.08
Rupee-100 Yen0.66580.00020.02