Stock Market Highlights: Sensex jumps 529 points, Nifty ends above 13,700; banks, pharma stocks lead

Market This Week

Nifty Snaps 7-week Gaining Streak While Sensex Manages To Post Minor Gain For The Week

Midcap Index & Nifty Bank Snap 7-week Gaining Streak, Slip Over 1% Each

Nifty IT Records Over 3% Gain To Post Biggest Weekly Gain In Nearly 2 Months

Wipro, Cipla, Infosys, Adani Ports & HCL Tech Top Nifty Gainers This Week

ONGC, IndusInd Bank, Hindalco & BPCL Top Nifty Losers This Week

Market At Close

Sensex Ends At Record Closing High & Nifty 11 Pts Away From Record Closing Level

Market Gains For 3rd Straight Day To Recover Most Losses Seen On Monday

Financials Support Market While IT Drags; Nifty Bank Up Over 1.5%

Midcap Index Closes Near Flatline; Market Breath Mildly In Favour Of Advances

Sensex Gains 529 Points To 46,974 & Nifty 139 Points To 13,749

Nifty Bank Climbs 519 Pts To 30,402 & Midcap Index 36 Pts To 20,476

Tata Motors Top Nifty Gainer After Co Maintains JLR Guidance For H2FY21

Bharti Airtel & RIL Gain On Additions Of Subscribers In The Month of October

Vodafone Idea Slips After Govt Decides To Challenges The Arbitration Award

Vedanta Surges Over 7% On Promoter’s 5% Stake Sale Via Block Deal

Bector’s Food Makes A Strong Debut, Gains 106% Against The Issue Price

Hotel Stocks like Speciality Restaurants Gains On Maharashra Govt’s Licence Fee Cut

BEML Continues To Move Higher On Expectation Of EoI For Govt Stake

Closing Bell | Indian benchmark equity indices, Sensex and Nifty ended over 1 percent higher Thursday led by gains in banking and pharma stocks amid positive global cues. The Sensex ended 529.36 points or 1.14 percent higher at 46,973.54, while the Nifty gained 148.15 points or 1.09 percent to settle at 13,749.25. Among broader indices, Nifty Smallcap rallied 0.90 percent. A

mong sectors, the Nifty Bank and Nifty Financial Services rose the most, up over 1.7 percent each while Nifty Pharma added 1.2 percent. The auto and FMCG indices also gained 0.4 percent each and Nifty Metal rose 0.3 percent. However, Nifty IT lost 0.6 percent for the day.

PE investment in real estate likely to jump 30% YoY to $6 billion in 2021: Report

Private equity investment in the real estate sector is expected to bounce back to $6 billion, registering a growth of 30 percent year-on-year in 2021, led by improving economic sentiment supported by policy reforms and growth in key emerging sectors, said a report.

The next wave of investments will be driven by growth in warehousing, affordable housing and data centers apart from the commercial office segment which will continue to see steady improvement, said the report by Savills India, a global property consultancy firm.

According to the report titled ‘Beyond The ’20: Private Equity in Indian Real Estate’, the warehousing and logistics segment has been among the most resilient asset classes in the ongoing pandemic. Warehouse leasing is expected to increase by 60 percent in 2021 as compared to 2020, keeping investors riveted and on the lookout for investment opportunities.

Savills Research expects private equity investors to assess an opportunity of around $330 million in the industrial and warehousing segment in 2021. This is approximately 17 percent higher compared to the average annual investments during the period of 2016-2020. Read more here.

Yash Gupta Equity Research Associate, Angel Broking

Aurobindo Pharma and COVAXX Sign an exclusive agreement to develop and commercialize COVID-19 vaccine for India and UNICEF. COVAXX’s UB-612 is the first multitype, synthetic peptide-based COVID-19 vaccine candidate in clinical trials and it utilises normal refrigeration (no freezing required) for distribution.

The agreement leverages Aurobindo’s existing development, commercial and manufacturing infrastructure.

Phase 2/3 clinical trials by COVAXX to begin early Q12021 in Asia, Latin America and USA. It is an important step in ensuring equitable access and global supply during the worldwide pandemic.

This is a very positive development for the company but COVAXX is going to take time as the vaccine is in the first phase of clinical trials and vaccines may take 6-9 months for getting final approvals.

Yash Gupta Equity Research Associate, Angel Broking

After Vedanta promoter had failed to delist the company's shares in October 2020 as not able to receive a requisite quantity of share at a cutoff price. At the time of delisting the promoter group fixed cutoff price at Rs 87.5 and now via block deal as per the indicative price of Rs 160 which is more than 82 percent of cut off price. We expect the stock to consolidate at these levels, the upside will be very limited from current market price as all positive news has been factored in.

Rusmik Oza, Executive Vice President, Head of Fundamental Research at Kotak Securities

This has been a short but eventful week with wide gyration in stock prices. After the sharp correction seen on Monday prices have recovered in the last three days. Monthly expiry has also contributed to the higher volatility. We can expect muted FII activity in the next week also due to year end phenomenon but expect activity to pick up sharply from the first week of January. Most probably Nifty should take support at 13,000 levels with likely break out above the 14,000 level sometime in January.

DLF | The company’s newly launched project has been completely sold out and the developer expects to get around Rs 300 crore from this project. The new project was launched in DLF Phase 3, Gurugram and another phase of the same project to be launched soon.

Indian Metals & Ferro Alloys | The company said that the capacity of its old power plant of 108 MW has been derated to 50 MW therby reducing its thermal power generation capacity to 200 MW from 258 MW.

Aurobindo Pharma inks pact with COVAXX to develop COVID-19 vaccine

Aurobindo Pharma on Thursday said it has inked a licensing pact with US-based company COVAXX to develop and commercialise a vaccine for COVID-19. The company has entered an exclusive licence agreement to develop, commercialise and manufacture UB-612, the first multitope peptide-based vaccine to fight COVID-19, for India and UNICEF, Aurobindo Pharma said in a regulatory filing.

COVAXX is currently conducting a Phase 1 clinical trial for the vaccine candidate. "This vaccine has immense potential in eliminating shedding, and hence containing, the spread of the pandemic," Aurobindo Pharma Managing Director N Govindarajan said.

As per the agreement, the Hyderabad-based firm has obtained the exclusive rights to develop, manufacture and sell COVAXX's UB-612 vaccine in India and to UNICEF, as well as non-exclusive rights in other select emerging and developing markets. Aurobindo Pharma and COVAXX are partnering on clinical development, manufacturing and marketing of US firm's vaccine candidate, UB-612. Continue reading.

Steel Strips Wheels | The company received new export orders of nearly 33,000 wheels for US and EU trailer market, to be executed in the month of January and February 21 from its Chennai plant. Orders of similar capacity are anticipated from the same customer base as businesses continue to recover rapidly, the company said.