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Stock Market Highlights: Sensex ends 497 points higher, Nifty reclaims 16,750; HCL Tech, Wipro jump 4%

Stock Market Highlights: Sensex ends 497 points higher, Nifty reclaims 16,750; HCL Tech, Wipro jump 4%

Stock Market Highlights: Sensex ends 497 points higher, Nifty reclaims 16,750; HCL Tech, Wipro jump 4%
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Stock Market Highlights: Indian equity benchmarks Sensex and Nifty50 rebounded on Tuesday after two sessions of steep losses. Gains across most sectors, led by IT, metal, healthcare and consumer stocks, pushed the headline indices higher. Broader markets also strengthened, with the Nifty Midcap 100 and Smallcap 100 gauges finishing 1.3 percent higher each. MapmyIndia shares made a strong debut in the secondary market.

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Dec 21, 2021 5:17 PM

IT sector to get even stronger: Varun Goel

Varun Goel, Head-Equity at Nippon India AIF, expects the IT sector to get even stronger. "As the huge IT capex cycle plays out globally, Indian companies should continue to benefit; we should see a lot of export earnings. We are already seeing significant pay hikes for IT professionals in India and that will have a huge second round of impact on various discretionary sectors in India," he added.

Dec 21, 2021 4:55 PM

India set for disruption in passenger car segment, time to bet on players ready for EV journey: Nippon India AIF's Varun Goel

Varun Goel, Head-Equity at Nippon India AIF, believes India is set for a disruption in the passenger car segment, and suggests investors to bet on players that are ready for the EV journey of the future. "Very few players seem to be prepared for this transformation. So whichever companies already have a proven model, the ecosystem in place and are backed by good capital should see tremendous growth," he said. 

Dec 21, 2021 4:54 PM

MapmyIndia shares trim initial gains after strong listing

MapmyIndia shares gave up some of their initial gains after a strong debut on Dalal Street. The stock of CE Info Systems - which owns the MapmyIndia platform - finished its listing day at Rs 1,394.6 apiece on BSE, a premium of 35 percent over its issue price of Rs 1,033. On NSE, the MapmyIndia stock ended at Rs 1,375 apiece, a premium of 33.1 percent. 

During the session, the MapmyIndia stock climbed to as high as Rs 1,586.9 apiece on BSE and Rs 1,590 apiece on NSE -- a premium of nearly 54 percent each. (Read more on MapmyIndia shares)

Dec 21, 2021 4:36 PM

Rupee ends higher at 75.60 vs US dollar 

The rupee closed at 75.60 against the greenback as against its previous close of 75.91.

Stock Market Highlights: Sensex ends 497 points higher, Nifty reclaims 16,750; HCL Tech, Wipro jump 4%
Dec 21, 2021 4:19 PM

Somewhat bullish on FMCG, buy Colgate on dips: Anand Tandon

Market expert Anand Tandon believes Colgate is one of those stocks that long-term investors should buy after every fall. He is "somewhat bullish" on the FMCG space. "It has underperformed to that extent, and it is not really the top of mind right now, so it is a good time to look at it. But more importantly, the simple theme I am trying to suggest is that WPI numbers are in double digits, CPI numbers are in single digits, and you are going to have a squeeze in margins. The companies that can do well in the margin squeeze can raise the prices and therefore those are powerful brands," he said.

"I don't think anybody will have a doubt about the power of the Colgate brand. It should be able to actually maintain and grow the margins even in a tough time. Most of the companies which don't have, for example, tariff protection, etc. find it difficult to pass it on to the consumer, and therefore we will have some kind of margin degradation which the market and the analyst community is not factoring in," he added.

Dec 21, 2021 4:18 PM

Metropolis Healthcare fairly strongly positioned from market share, growth perspective: Anand Tandon

Market expert Anand Tandon believes Metropolis Healthcare is fairly strongly positioned as far as market share and growth are concerned, but there appears to be room for some correction. "They have not been cheap for a long time, but I think this continues to be one of those players that not only have a trigger in the near term because of the healthcare that we are all looking at but also from the perspective that there is also consolidation going on in the industry. As regulations strengthen in terms of the kind of standard that various labs have to maintain, this will only increase," he said. 

"By and large, the big will get bigger in the lab space. There is a significant cleanup in the practices that go around using labs and referencing and so on. All of that is getting cleaned up quite considerably, all of which is good news for these players," he added.

Dec 21, 2021 4:14 PM

Market At Close | Sensex in the green but off day’s highs

Here are some highlights:

--Nifty Bank fails to hold 35,000, slips 442 points from day’s high

--All sectoral indices rise; metal, IT gauges gain the most

--39 Nifty stocks up; HCL Tech, UPL, Wipro top gainers

--Nifty Bank rises 168 points to 34,608, midcap index up 370 points at 29,208

--Oil India, Indus Towers, Nalco, Godrej Consumer, Dixon Tech top midcap gainers

--Shriram Transport Finance, Bank of Baroda, IndiaMart, Can Fin, Marico, Indian Hotels top midcap losers

--Zee Entertainment up 2.6% amid volatility ahead of Sony deal deadline

--Market breadth favours bulls; advance-decline ratio at 5:2

Dec 21, 2021 3:56 PM

Market At Close | HCL Tech, Wipro, UPL, Tata Steel, Adani Ports among top blue-chip gainers

On the other hand, Power Grid, Axis Bank, Bajaj Finance, Tata Consumer, Ciplar and SBI were the worst hit among the 11 laggards in the Nifty50 universe. 

Here's how the Sensex pack fared:

Stock Market Highlights: Sensex ends 497 points higher, Nifty reclaims 16,750; HCL Tech, Wipro jump 4%
Dec 21, 2021 3:50 PM

Closing Bell | Sensex up  497 points at 56,319, Nifty50 at 16,771

The 30-scrip index ended 497 points or 0.9 percent higher at 56,319 and the broader Nifty50 benchmark settled at 16,770.9, up 156.7 points or 0.9 percent from its previous close. (Read more on the closing bell)

Dec 21, 2021 3:43 PM

Stock market woes may have little to do with health of economy

The steep fall in share prices over the last month is causing many market watchers to wonder if it is a reflection of the health of the economy. (Read more)

Dec 21, 2021 3:19 PM

Financials look attractive; new-age companies not cheap: Ashmore Investment

The new-age companies are not cheap but there is tremendous growth potential, said Ashwini Agarwal, co-founder & partner of Ashmore Investment Management India LLP, on Tuesday, adding that “select stocks are approaching prices where they appear to be reasonably attractive.”

Dec 21, 2021 3:18 PM

Institutional investment in real estate likely to fall 20% to around $4 billion in 2021: Report

Institutional investments in real estate may fall 20 per cent to USD 4 billion during this calendar year because of a higher inflow of funds in 2020, according to property consultant JLL India. During the January-September period, the institutional investment rose to USD 2,977 million from USD 1,534 million in the year-ago period. "Unless some large portfolio deals are not inked at the end of the year, annual investments are expected to be in the USD 3.8-4 billion range in 2021," JLL said in a statement.

Dec 21, 2021 3:05 PM

Auto component industry cautiously optimistic for growth in FY22 despite COVID woes

The auto component industry remains 'cautiously optimistic' for the growth of the industry in the current fiscal year despite concerns of another wave of the pandemic, industry body ACMA said on Tuesday. The turnover of the automotive component industry stood at Rs 1.96 lakh crore (USD 26.6 billion) in April-September 2021, registering a growth of 65 per cent over the first half of the previous year.

Dec 21, 2021 2:59 PM

CMS Info Systems IPO subscribed 29% on Day 1 so far

CMS Info Systems' initial public offering (IPO) hit the primary market on December 21 and the issue was subscribed more than 29 percent on Day 1 so far. The offer received bids for 1.09 crore shares against the issue size of 3.75 crore by 1:45 pm.

Dec 21, 2021 2:43 PM

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