Homemarket newsstocks news

    Stock Market Highlights: Sensex ends 887 points higher as market rebounds; Tata Steel, Axis Bank up 4%

    This article is more than 8 month old.

    Stock Market Highlights: Sensex ends 887 points higher as market rebounds; Tata Steel, Axis Bank up 4%


    Stock Market Highlights: Indian equity benchmarks Sensex and Nifty50 made a big comeback on Tuesday following two days of decline. Gains across sectors, led by financial, IT, oil & gas and metal shares, pushed the headline indices higher. Broader markets also strengthened, with the Nifty Midcap 100 and Smallcap 100 indices rising more than one percent each.

    Stock Market Highlights: Sensex ends 887 points higher as market rebounds; Tata Steel, Axis Bank up 4%
    • Thank you, readers! That's all from CNBC-TV18.com's live market coverage on December 7. Stay tuned for other updates on our website: CNBCTV18.com.

      You can follow us on Twitter: @CNBCTV18Live @CNBCTV18News

      And on FacebookLinkedInInstagram and Telegram

      Download our mobile app for Android and iOS platforms

    • Nifty could continue to relatively outperform other indices if RBI remains accommodative: Mehraboon J Irani

      Market expert Mehraboon J Irani is of the view that there are reasons to believe that the Bank Nifty could continue to relatively outperform other indices. "At 16,800-17,000, I did mention that I feel a temporary bottom is certainly in place. But today, I feel that market somewhere is preempting that the accommodative stance from the RBI will continue for some more time to come. It's debatable whether the Indian corporate or the Indian economy now needs a stimulus. One can argue on that. I personally believe we don't need it," he said. 

      "But somewhere, if one understands that most of the favoured sector stocks, especially specialty chemicals and pharmaceuticals, have come off 25-40 percent off their highs, there will always be pockets of opportunities when one can go and possibly earn some trading profits for themselves. I think that's exactly what is happening in the market. There are always stocks which will now defy gravity and start to rise. I think the smarter money is trying to identify such stocks and buying into them, and making some quick money because as the base comes down on the stock, the percentage returns definitely increases on the upside. So I think there are pockets of opportunities where people are now lifting it and I think that should continue. I believe that if one believes 'I'm ready to see a 5-7 percent downside', there is a whole lot of stocks that can now be looked at from a buying angle," he added.

    • RBI policy could sway market sentiment in next couple of days: Manish Shah

      According to independent technical analyst Manish Shah, the Nifty50 has formed a bullish Harami pattern on the charts. "If we see another green candle tomorrow, it will be a bullish three inside up. The RBI monetary policy could sway the market sentiment in the next couple of days. With the Nifty in a range for the last eight sessions, we need to see it give a breakout in either direction. On the upside, if the Nifty breaks above 17,500, we could see a change in trend that would call for a rally to 17,800. On the lower side, support is at 16,750. If the Nifty breaks below this support, a further decline to 16,400 is not ruled out," he said. 

    • Rakesh Jhunjhunwala-backed Star Health trades at discount to issue price in grey market

      Ace investor Rakesh Jhunjhunwala-backed Star Health and Allied Insurance's shares are likely to be listed on stock exchanges on December 10. The insurer erased the entire premium it commanded in the grey market, ahead of the market debut. According to dealers, Star Health's grey market premium (GMP) stood at a minus Rs 70 on Tuesday. had commanded a GMP of around Rs 15 during its IPO. (Read more on Star Health GMP)

    • Expect some volatility regardless of near-term performance: Anand Tandon

      Market expert Anand Tandon believes the market is in for some volatility irrespective of the near-term performance. "I don't think one day’s move either way up or down can indicate a change of trend. But that said, if you were to look at a slightly longer-term view, I think most people are also of this view now. The question you're trying to answer is: How far will inflation go? And more importantly, the political question, because it's no more an economic question: How much the central banks will actually go out and regulate the market, and try and control it in the form of either reducing liquidity or increasing interest rates? My own view is that inflation will be here, will be longer and higher than people anticipate at this stage, and therefore, there is a need for central bank action, but it will also be slow in coming and therefore the inflationary pressures will continue," he said. 

      "Earnings may continue to rise for at least a couple of more quarters before you begin to feel the pressure of input costs... You are looking at a situation one year down the road where analyst estimates will again have to start to fall and the market will look somewhat expensive," he added.

    • Market At Close | Nifty Bank gains 883 points to 36,618; midcap index up 419 points at 30,283

      Here are some highlights: 

      --Sources say government not approaching Cabinet for stake sale in Nalco, Hindustan Copper

      --BEML rises, SCI drops; divestments at advanced stage

      --Unlock theme stocks Delta Corp, IndiGo, Indian Hotels, PVR rise sharply 

      --Vodafone Idea falls 5% after stock comes out of F&O ban

      --Diagnostic stocks slip following Maharashtra’s decision to cut testing prices

      --Market breadth favours bulls; advance-decline ratio at 7:2

      --BSE companies regain Monday’s mkt cap loss; mcap rises by over Rs 3 lakh crore

    • Rupee ends marginally lower at 75.44 vs US dollar

      The rupee closed at 75.44 against the greenback, as against its previous close of 75.42.

      Stock Market Highlights: Sensex ends 887 points higher as market rebounds; Tata Steel, Axis Bank up 4%
    • Market At Close | Hindalco, Tata Steel, Axis Bank, ICICI Bank, Tata Motors among top blue-chip gainers

      Disclaimer: Network18, the parent company of CNBCTV18.com, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.

      Stock Market Highlights: Sensex ends 887 points higher as market rebounds; Tata Steel, Axis Bank up 4%
    • Market At Close | Financial, metal stocks lead market surge, 45 of 50 Nifty stocks in the green

    • Margins getting stretched due to commodity inflation: Atul Suri 

    • Closing Bell | Sensex up 887 points at 57,634, Nifty at 17,146

      The 30-scrip index ended 886.5 points or 1.6 percent higher at 57,633.7 and the broader Nifty50 settled at 17,145.9, up 233.6 points or 1.4 percent from its previous close. All sectors were in the green. Financial, IT, metal and oil & gas shares were the top contributors to the gains in headline indices.

    • Market greatly oversold, great opportunity to buy: Atul Suri

      Market veteran Atul Suri told CNBC-TV18 the market appears to be greatly oversold at the current juncture, and presents a great opportunity to buy. The best performing stocks saw a 20-25 percent correction while the index fell 10 percent, he said. 

      A correction of 10-12 percent is healthy for the market, he said. 

      Suri believes banks are likely to see a short covering rally in the near term. 

    • Crude to trade in $50-70 per barrel range in 2022: Moody's Investors Service

      In an interview to CNBC-TV18, Vikas Halan, Associate Managing Director of Corporate Finance Group at Moody's Investors Service, said he expects volatility in supply demand for crude to continue in 2022. He expects crude to trade in the range of $50-70 per barrel in 2022. (Read more on crude oil)

      Stock Market Highlights: Sensex ends 887 points higher as market rebounds; Tata Steel, Axis Bank up 4%
    • Financial bids for Nilachal Ispaat, Pawan Hans likely in December: DIPAM Secretary to CNBC-TV18

      The Nilanchal Ispat, Pawan Hans, BEML and SCI transactions are at an advanced stage, the DIPAM Secretary said. 

      The government is trying to launch the LIC IPO in Q4 as planned, the official said. 

    • Madhu Kela says indices may consolidate, need to capitalise on correction 

      Veteran fund manager Madhusudan Kela told CNBC-TV18 he expects the headline indices to consolidate going forward, after a sharp rise in the past 18 months. It is a time to buy into stock-specific ideas, he said. 

      Kela believes any correction in real estate will be a buying opportunity. 

    • Dilip Buildcon emerges lowest bidder for Rs 2,683 crore EPC project 

      Dilip Buildcon shares jumped after the news. In late afternoon deals, the stock was up 3.9 percent at Rs 542.6 apiece on BSE. 

    • Bhanu Chopra, Rategain On CNBC-TV18

      We will continue to accelerate in cloud infra and data centres. A part of the IPO proceeds will also be used for M&A. The focus continues on gross margin and EBITDA level. We have adjusted the EBITDA margin at 10 percent and are confident of expanding the margin beyond 10 percent levels. 

    • AurionPro is selected by The State Bank Of India as the Solution Provider for Kanpur Metro Project. The project is valued at close to Rs 140 crore.

    • Buzzing stock: Only buyers in Tanla Platforms; shares hit 5% upper circuit

      Tanla Platforms shares were locked in the upper circuit at 5 percent, quoting at Rs 1,675.90 apiece on the Bombay Stock Exchange (BSE) on Tuesday. The upward movement in the Tanla Platforms’ stock comes on the day the communications platform as a service (CPaaS) firm announced its collaboration with telecom operator Vodafone Idea to provide secure and encrypted international messaging traffic on the Vi network.

    • Madras High Court orders winding up of SpiceJet over outstanding dues

      The Madras High Court has ordered the winding up of private carrier SpiceJet Limited and directed the official Liquidator attached to the High Court to take over its assets, in a plea filed by a Swiss company over unpaid dues. The court was allowing a company petition from Credit Suisse AG, a stock corporation registered under the laws of Switzerland, which prayed for winding up of the Indian firm under the provisions of the Companies Act, 1956 and appoint the Official Liquidator of the High Court as the Liquidator with all powers under Section 448 of the Companies Act to take charge of SpiceJet's assets, properties, stock in trade and books of accounts.

    • India great long-term growth story; cyclically better positioned than most Asian markets: Credit Suisse

      India is a great long-term growth story and is cyclically better positioned than most Asian markets, said Dan Fineman, Co-Head of Equity Strategy-Asia Pacific, Credit Suisse, on Tuesday. "India valuations are trading at larger than the historical premium to EMs," said Fineman in an interview with CNBC-TV18, adding he prefers India over China.

    • Nalco & Hind Copper in focus

      Sources say there’s no plan to seek Cabinet nod for strategic sale.

    • Navneet Education’s subsidiary acquires stake in sporting services

      eSense Learning - a wholly owned subsidiary of Navneet Education - is all set to acquire 14.29 percent in sporting services. Gnanesh Gala, MD of Navneet Education discussed what this entails for the company and how this acquisition is expected to contribute to the company's bottom line.

    • Market Watch: Sacchitanand Uttekar of Tradebulls

      Buy Kotak Mahindra Bank with a stop loss of Rs 1,915 and a target of Rs 2,045-2,080.

    • Gnanesh Gala, Navneet Edu On CNBC-TV18

      The deal with Sporting Services Pvt Ltd is a collaboration to take the platform ahead. SFA revenues were impacted due to COVID in the last two years. 
      The company will take the multi-sporting platform to the school level. We will be funding investments via internal accruals. We are also expecting 
      Rs 15-20 crore of revenue for Sporting Services Pvt Ltd. We currently have around Rs 70 crore cash.

    • Market Watch | Buy ICICI Bank, NALCO, says Ajit Mishra, Religare Broking

      - Buy ICICI Bank with a stop loss of Rs 720 and a target of Rs 760.

      - Buy NALCO with a stop loss of Rs 93 and a target of Rs 100.

    • Will be able to double our revenue in next 3 years: Kailash Lalpuria, Indo Count

      The company is currently at 85% capacity utilisation levels. Will be able to clock revenue of Rs 3,200 crore for FY22, says Kailash Lalpuria of Indo Count. 

    • Exclusive: Aiming for LIC IPO in Q4; BPCL stake sale still at due diligence state, says DIPAM Secy

      The government is trying to launch the initial public offering (IPO) of Life Insurance Corporation (LIC) in the fourth quarter (January-March) of this financial year as planned, Department of Investment and Public Asset Management (DIPAM)  Secretary Tuhin Kanta Pandey told CNBC-TV18 in an exclusive interaction. He said that financial bids for Nilachal Ispat, Pawan Hans were likely in December and that the financial bids stage for Bharat Earth Movers and Shipping Corporation would be reached very soon. 

      Read more here

    • Satish Pai, Hindalco On CNBC-TV18

      Aluminium prices have now stabilised at around $2,600-2,700/tonne. The demand-supply dynamics will aid the aluminium prices. 90 percent of Hindalco's domestic coal comes from linkage and auction. The coal situation is gradually improving. We are also seeing some impact of semiconductor shortage but things are improving. The working capital got stretched in H1 owing to price fluctuations.

    • Signs of private capex visible as demand returns post COVID 2.0: Axis Bank CEO

      Axis Bank is looking at growth acceleration as COVID-19 numbers continue to dip in the country. Speaking to CNBC-TV18, Amitabh Chaudhry, the MD and CEO of Axis Bank said that there are signs of private capex visible now, which shows the economy is on the right track. "Signs of private capex are visible, especially right now in refineries, renewable energy, data storage, warehousing, logistics and commodities," he said.

    Stock Market Highlights
    : Indian equity benchmarks Sensex and Nifty50 made a big comeback on Tuesday following two days of decline. Gains across sectors, led by financial, IT, oil & gas and metal shares, pushed the headline indices higher. Broader markets also strengthened, with the Nifty Midcap 100 and Smallcap 100 indices rising more than one percent each.

      Market Movers

      View All