Sensex Today: Stock Market Live Today: Sensex, Nifty volatile; pharma leads sectoral
Domestic market started the day on a volatile note, swinging between gains and losses. In a thinly traded session, pharma stocks were leading among gainers while IT and metal names were under pressure. Traction in broader markets, meanwhile, remained strong.
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Market veteran Prashant Jain says growth outlook for earnings and economy have improved and that the market at 18 times FY22 earnings per share is fairly valued. He said that while investors should remain optimistic, they need to moderate their expectations from equity markets a bit.
State-run power giant NTPC plans to rope in a strategic investor for its clean energy arm NTPC Renewable Energy Ltd (NREL) ahead of its listing on bourses in October 2022, according to a senior official.
Price as on 29 Dec, 2021 12:13 PM, Click on company names for their live prices.
Waves of foreign portfolio investments worth over Rs 51,000 crore splashed into the Indian market in 2021 as overseas investors turned net buyers of domestic securities for the third straight year while excess global liquidity and other factors steered the ebb and flow of their investing ways. With the global financial system still flush with liquidity, emerging market assets, especially equities, might well remain the preferred investment avenue for many more months to come, experts opined.
Mazagoan Dock approves Rs 7.10 as interim dividend
Price as on 29 Dec, 2021 11:43 AM, Click on company names for their live prices.
In a survey of 13 brokerages by ETMarkets.com, stocks such as Praj Industries, Stove Kraft and Indian Energy Exchange among seven others emerged as top bets for analysts in the midcap and smallcap space. These stocks are being backed to not only be wealth creators for the long-term for investors but are also likely to outperform their benchmarks in 2022.
Haitong initiates coverage on CAMS with outperform; target at Rs 3100
Price as on 29 Dec, 2021 11:03 AM, Click on company names for their live prices.
Bajaj Housing Finance slashes home loan interest rates to 6.65% p.a. as part of its new festive offer
Price as on 29 Dec, 2021 10:54 AM, Click on company names for their live prices.
Top metal losers at this hour
Price as on 29 Dec, 2021 10:52 AM, Click on company names for their live prices.
Shares of GR Infraprojects added 3 per cent in early trade on Wednesday as the company emerged as L-1 bidder for a tender invited by Noida Metro Rail Corporation, for part design and construction of elevated viaduct and five elevated stations, of Noida-Greater Noida Metro Rail Project. The counter climbed to a high of Rs 1,700 against the previous close of Rs 1,650.05 on the National Stock Exchange.
BSE Smallcap index gains over 0.5%; here are the top gainers & losers from the pack
Top 10 gainers from the pharma sector in early trade
Price as on 29 Dec, 2021 10:25 AM, Click on company names for their live prices.
Yellow metal slips below Rs 48,000
Gold prices traded flat with a negative bias on Wednesday as a boost from weaker US Treasury yields countered the impact from a slight improvement in risk sentiment. Analysts said that gold trading is likely to remain thin and range-bound this week, whereas rising cases of Omicron variant may add to bullion’s appeal. Gold futures on MCX eased marginally 0.09 per cent or Rs 43 at Rs 47,999 per 10 grams. Silver was flat, edged lower 0.08 per cent or Rs 50 at Rs 62,464 per kg.
Sensex reverses opening losses, rises over 180 points
Tesla Inc Chief Executive Elon Musk on Tuesday completed stock sales related to his options set to expire next year, according to securities filings. “This rule 10b5-1 trading plan was completed on December 28, 2021,” the filings said, referring to Musk’s options-related sales set up in September via a trading plan.
Top movers on NSE in opening trade
Price as on 29 Dec, 2021 09:29 AM, Click on company names for their live prices.
Sector Watch: IT, metal stocks fall
JUST IN: Amara Raja Batteries to invest in Europe-based Inobat
Price as on 29 Dec, 2021 09:23 AM, Click on company names for their live prices.
OPENING BELL: Sensex sheds 170 points, Nifty below 17,200; IRB Infra, HCC rise 5% each
Pre-open session: Sensex flat, Nifty50 at 17,220
Asia shares slip as investors ready for end of 2021
Asian stocks slipped on Wednesday, following a mixed Wall Street session as the region’s investors positioned their portfolios for the new year and continued to grapple with increasing global numbers of Omicron coronavirus cases. There were losses in Hong Kong, down 0.6% while Chinese blue chips shed 0.25%. Japan’s Nikkei slid 0.58% Wednesday after hitting a one-month high on Tuesday.
Sebi tweaks HNI quota in IPOs, lock-in for anchor investors
Sebi said 33 per cent of shares allocated to non-institutional investors will be reserved for investors with application sizes of Rs 2 lakh-Rs 10 lakh. SEBI said that the current lock-in period of 30 days after the allotment of shares will continue for anchor investors for half of the shares allotted to them. For the remaining portion, the lock-in period has been enhanced to 90 days from the day of allotment.
IPO-bound LIC showcases its business dominance to FIs
Dalal Street-bound Life Insurance Corp of India recently did a hard sell to institutional investors from across the globe positioning itself as the nimble giant growing fastest even while private sector insurers chart their growth paths. LIC showcased that even after two decades of private players in the industry, it still has nearly 65% of new policies and is the only one that could capitalise on the opportunities in rural Bharat.
SGX Nifty signals a negative start
Nifty futures on the Singapore Exchange traded 49 points, or 0.28 per cent, lower at 17,266.50, signaling that Dalal Street was headed for a negative start on Wednesday.
Tech View: Nifty50 takes out 20-EMA, eyes further gains
Nifty50 on Tuesday topped the 17,200 mark as it took out its 20-day exponential moving average (EMA) and formed a small bullish candle on the daily chart. Analysts said the index has the potential to take out the 17,350 level in the short run. They see 17,200 as the immediate support level.
Oil firms, near highest since late November on risk appetite
US oil rose for a sixth consecutive session on Wednesday while Brent gained more ground with a broad-based rally in global markets supporting prices. The benchmark Brent crude rose 23 cents, or 0.3%, at $79.17 a barrel by 0101 GMT. U.S. West Texas Intermediate (WTI) crude added 21 cents, or 0.3%, at $76.19 a barrel.
Hong Kong, mainland China shares open lower
Hong Kong stocks fell at the open on Wednesday morning, weighed by continued fears about the Omicron variant despite a rally on Wall Street. The Hang Seng Index fell 138.48…