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Stock Market Highlights: Sensex, Nifty end lower amid volatility; Biocon down 6%

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Share Market LIVE Updates: Sensex and Nifty gave up opening gains to slip into the red amid volatility due to the new covid variant. Sensex was down 250 points at 57,065, and the Nifty was down 87 points at 16,984. HCL Technologies, SBI Life Insurance, Tech Mahindra, ITC, and Asian Paints were among the major gainers on the Nifty. Whereas, Grasim, NTPC, Kotak Mahindra Bank, ONGC, and Mahindra & Mahindra were among the top losers. Delhi records 118 new Covid cases with one death and a positivity rate of 0.19 percent. The Data Patterns (India) shares debuted with a fine premium of 48 percent on the Bombay Stock Exchange (BSE) Friday. The stock opened at Rs 864 on the Bombay Stock Exchange (BSE) and Rs 856 on the National Stock Exchange (NSE). Its issue price was Rs 585 per share.

Stock Market Highlights: Sensex, Nifty end lower amid volatility; Biocon down 6%
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  • RBI to face the heat if US Fed starts raising rates by June; 7% growth may be a stretch: Jahangir Aziz

    Central banks across the globe have been giving mixed signals. In the US and Europe, the central banks are hawkish, while the central bank of China has undertaken a rate cut, which in turn is indicative of some loosening in Asia. To understand where India figures amid all this, CNBC-TV18's Latha Venkatesh spoke to Jahangir Aziz, Head- Emerging Markets Economics Research and Commodities at JPMorgan.

  • Market close | Sensex, Nifty end lower amid volatility; Mid-caps, Small-caps down 1%

    Benchmark equity indices snapped three-day winning streak and ended lower on Friday. The Sensex closed 190.97 points down or 0.33% at 57,124.31, and the Nifty closed 74.55 points down or 0.44 percent at 16,998.05. Losses at Grasim, NTPC, Kotak Mahindra Bank, ONGC, and Mahindra & Mahindra pushed the headline indices lower. 

  • BSE Midcap index fell 1 percent dragged by the L&T Finance, Biocon, M&M Financial

  • IMF extends emergency funding by 18 months due to COVID

    The International Monetary Fund on Thursday said it will extend its flexible access to emergency funding for an additional 18 months to help nations severely impacted by the Covid-19 pandemic. The IMF's executive board agreed on Monday to "temporary increases to the cumulative access limits under its emergency financing instruments" through June 2023, the Washington-based crisis lender said in a statement.

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    Stock Market Highlights: Sensex, Nifty end lower amid volatility; Biocon down 6%
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  • RBI to face the heat if US Fed starts raising rates by June; 7% growth may be a stretch: Jahangir Aziz
    Central banks across the globe have been giving mixed signals. In the US and Europe, the central banks are hawkish but there is a rate cut from the central bank in China, which is indicating some…
    Stock Market Highlights: Sensex, Nifty end lower amid volatility; Biocon down 6%
  • Nifty pharma index fell 1 percent dragged by the Biocon, Torrent Pharma, Glenmark Pharma

  • Logistics now has relevance & industry status. The company focuses purely on value-added services. All clients are well spread out, says Chander Agarwal of TCI Express to CNBC-TV18.

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  • Market Watch: Hemen Kapadia of KRChoksey Securities

    - Buy Kaveri Seed with a stop loss of Rs 517 and target of Rs 562

    - Buy KPIT Technologies with a stop loss of Rs 517 and target of Rs 562

  • Market Watch: Siddhartha Khemka, Head of Retail Research at Motilal Oswal Financial Services

    On markets

    Overall, our view on the market remains very positive. After almost 10 percent correction from the peaks, we see that Nifty valuation is now in a comfortable zone compared to what we were in October and it is no longer expensive. So we are definitely looking at gradually adding on any declines from an investor perspective. So if someone has a one-year or two-year kind of perspective, it definitely makes sense to start buying on these kinds of declines. Because we see that the economic growth recovery to only improve from hereon. There are certain issues in the short term, for example, the omicron variant impacting or the bigger issue here is the global inflation and the result of increases in the interest rates, the tapering and the decline in the easy liquidity that was available to the market, which only can act as speed breakers to the overall bull run that we might see over the next couple of years.

  • Bajaj Consumer Care launches new product in the hair care segment

    Bajaj Consumer Care has launched a new Product Bajaj Sarso Arnio Oil in the hair care segment in the domestic market.

  • Infosys becomes fourth Indian firm to hit Rs 8 trillion market cap

    IT company Infosys became the fourth Indian firm to hit a market capitalisation of Rs 8 trillion (lakh crore) after its shares touched an all-time high of Rs 1,913 on BSE on Friday. Reliance Industries Ltd, Tata Consultancy Services Ltd and HDFC Bank Ltd have achieved this milestone in market capitalisation in the past.

  • Will not be taking up debt for new investment. See sales growth of 15% in the PLI project, says Amit Kumat of Prataap Snacks

  • Market Watch: Nirav Sheth, CEO, Institutional Equities, Emkay Global Financial Services

    On banks

    If I were to look into 2022, I would like to believe that you're going to see a realignment between stocks that have done extremely well, without any anchor to valuations in favour of some of the value stocks, because earnings outlook for some of these banks is far superior to those steady 15 percent compounding stories.

  • Market Watch: Prakash Gaba, prakashgaba.com

    - Buy Tech Mahindra with a stop loss of Rs 1,690 and a target of Rs 1,750-1,800.

    - Sell ACC with a stop loss of Rs 2,150 and a target of Rs 2,070.

  • Market Watch | Sell Axis Bank, Tata Steel: Manas Jaiswal, manasjaiswal.com

    - Sell Axis Bank with a stop loss of Rs 676 and a target of Rs 645.

    - Sell Tata Steel with a stop loss of Rs 1,126 and a target of Rs 1,080.

  • Buzzing: Ajanta Pharma jumps 5%; here’s why

    Shares of speciality pharma manufacturer Ajanta Pharma rose as much as 5 percent Friday after falling for three consecutive sessions. The stock action came after the company announced buyback plan. The board will meet Tuesday, December 28 to consider a proposal for the buyback of equity shares of Ajanta Pharma.

    Read more here

  • Govt mandates telcos to keep call data for 2 years

    The telecom department has extended the duration of archiving call data and internet usage records for two years. The decision to extend the duration from 1 year has been taken due to security reasons, a PTI report said. "The licensee shall maintain all commercial records/call detail record/exchange detail record/IP detail record with record to the communications exchanged on the network. Such records shall be archived for at least two years for scrutiny by the licensor for security reasons...," the DoT circular said. After two years, the telcos can destroy the data.

    At the last count, S&P BSE Telecom index was down half a percent to 1,759. Vodafone Idea shares were down over 1.5 percent to Rs 13.60 and Airtel had declined half a percent to Rs 675.

    Read more here

  • Rewind 2021 | Why HDFC Bank underperformed this year

    HDFC Bank has underperformed the Nifty for the third time in the past nine years, and now it is also lagging behind ICICI Bank on certain financial parameters.

    Year-to-date, the stock is up a mere 0.8 percent when compared to the 22.2 percent gain in Nifty. This is also the lowest return that HDFC Bank has given in the last eight years and it is a first-time single-digit return in the last eight years.

    Here’s why the stock is underperforming

  • Market Watch: Jay Thakkar, Marwadi Shares & Finance
     
    • Buy Abbott India with a stop loss of Rs 18,195 and a target of Rs 19,250.
    • Buy Tech Mahindra with a stop loss of Rs 1,650 and a target of Rs 1,775-1,800.
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    Stock Market Highlights: Sensex, Nifty end lower amid volatility; Biocon down 6%
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    Stock Market Highlights: Sensex, Nifty end lower amid volatility; Biocon down 6%
  • Motilal Oswal's investment idea: HCL Technologies

    The brokerage has a buy rating on the stock with a target price of Rs 1,430. It sees a 12 percent upside in the stock as compared to the current market price of Rs 1,272. 

    The brokerage expects revenue growth of over 13 percent over FY21-23E. "We expect EBIT margin to stabilise at 20 percent in FY23E, which should help it deliver 14.3 percent PAT CAGR over FY21-23E," the brokerage said. It also expects the company to emerge stronger on the back of an expected increase in enterprise demand for these services. Plus, the stock is trading at ~22.2x FY23E PE, which is "attractive compared to peers and offers a margin of safety."

    Check the stock price action here

  • Market at 12 pm: Sensex, Nifty down over 0.5%

    At 12 pm, Sensex was down 320 points to 56,993 and Nifty was down 110 points at 16,960. The midcap index is down over 1 percent while smallcap is down over half a percent. Among the sectors, Nifty PSU Bank is down over 2.5 percent, Nifty Bank has declined over 1 percent. Metals and pharma stocks aren't faring well either, with both indices down nearly 1 percent. Nifty FMCG and IT are in the green, with IT up over half a percent and FMCG up 0.3 percent. 

    SBI Life, HCL Tech, Tech Mahindra, ITC, and Asian Paints are the top gainers. And leading the losses are Grasim, Kotak Mahindra Bank, NTPC, ONGC, and Bajaj Finserv. 

  • Market Master: Mahesh Patil shares his outlook on trade in 2022 

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    Listen to his outlook on trade in 2022

  • Momentumisers: Firstsource Solutions in focus; here’s why

    Firstsource Solutions shares climbed nearly 2 percent Friday to Rs 178. The stock was was up nearly 10 percent yesterday, December 23 with a lot of momentum and the volumes were high. Yesterday's volumes were around 3 times the average volumes stock trades at. The stock turnover was high as well, with levels more than that of the previous three sessions put together.

    Here’s why

  • Hitendra Dave of HSBC at CNBC-TV18: Transaction for L&T MF business done at a fair price

    Stock Market Highlights: Sensex, Nifty end lower amid volatility; Biocon down 6%
Stock Market Highlights:
Indian benchmark equity indices snapped their three-day winning streak and ended lower on Friday. The Sensex closed 190.97 points down or 0.33 percent at 57,124.31, and the Nifty closed 74.55 points down or 0.44 percent at 16,998.05. Losses at Grasim, NTPC, Kotak Mahindra Bank, ONGC, and Mahindra & Mahindra pushed the headline indices lower. HCL Technologies, SBI Life Insurance, Tech Mahindra, ITC, and Asian Paints were among the major gainers on the Nifty. BSE midcap and smallcap indices down 0.5-1 percent. The Data Patterns (India) shares debuted with a fine premium of 48 percent on the Bombay Stock Exchange (BSE) Friday.

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