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Sensex tanks 1,100 points, Nifty ends below 17.7k as broader indices hit

Stock Market Today: The blue-chip NSE Nifty 50 index is trading around 16,650, down nearly 2% and the benchmark S&P BSE Sensex has taken a 1,000-point plunge to 55,900.Premium
Stock Market Today: The blue-chip NSE Nifty 50 index is trading around 16,650, down nearly 2% and the benchmark S&P BSE Sensex has taken a 1,000-point plunge to 55,900.

  • Market closing: Indian indices ended lower on Monday after falls on Wall Street as investors remained cautious over coronavirus fears. The NSE Nifty 50 index fell below 16,700 and the benchmark S&P BSE Sensex was down nearly 2%.

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Stocks remained under pressure on Monday over twin risks: a spike in global inflation threatening economic recovery and the swift spread of the new covid-19 variant. Indian shares fell during the day as a surge in global Omicron cases threatened to roil economic recovery, while shares of Future Group companies jumped after the country's antitrust agency suspended its deal with Amazon.com.

 

20 Dec 2021, 03:41:39 PM IST

Sensex ends over 1,100 points lower, Nifty below 17.7K as banks, realty and other sectors underperform

Indian equities extended losses on Monday, following a market-wide sell-off, which saw benchmark indices fall over 2% each.

The Sensex fell 1189.73 points or 2.09% to end the session at 55,822.01, and the Nifty was down 371.00 points or 2.18% at 16,614.20.

On the Nifty, BPCL, Tata Steel, Tata Motors, Coal India and IndusInd Bank were among the worst hit, while Cipla, Hindustan Unilever and Dr Reddy's rose the most. All other sectoral indices ended in the red.

The market breadth was negative, with nearly three stocks declining for every one stock that rose on the BSE. The MidCap and SmallCap indices saw declines of nearly 4% each.

 

Sensex stocks at close 20 December.
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Sensex stocks at close 20 December.
20 Dec 2021, 03:28:20 PM IST

Sectoral indices in the red

Nifty Sectoral Indices
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Nifty Sectoral Indices
20 Dec 2021, 03:19:19 PM IST

Sensex near 55,800

Market watch
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Market watch
20 Dec 2021, 03:11:58 PM IST

TVS Motor integrates what3words to its app

TVS Motor Company has today announced the integration of the location technology, what3words into its customer app, TVS Connect. Beginning today, TVS Connect users can share and navigate to any location using three words. The Chennai-based automaker has become the first Indian two-wheeler manufacturer to bring this addressing system to its customers. what3words is a way to identify precise locations. It has divided the world into a grid of 3-metre squares and given each square a unique combination of three random words: a what3words address.

 

20 Dec 2021, 03:03:55 PM IST

Nearly 50,000 MSMEs down shutters seeking reduction of raw material prices

Around 50,000 Micro Small and Middle Enterprises (MSMEs) downed their shutters in the district on Monday to draw the attention of the authorities to the skyrocketing prices of raw materials used in various industries.

20 Dec 2021, 02:55:26 PM IST

Nifty Realty down 5%

Source: NSE
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Source: NSE
20 Dec 2021, 02:42:21 PM IST

Stocks, Futures sink on virus, Manchin shock

Investor sentiment sagged Monday amid rising global omicron infections and turmoil for President Joe Biden’s economic agenda, spurring selloffs in stocks, equity futures and oil, while bolstering sovereign bonds.

Europe’s Stoxx 600 Index dropped more than 2%, while U.S. futures slid at least 1.5% and MSCI Inc.’s gauge of Asia-Pacific equities was set for its worst drop since March. Treasuries led global bonds gains and the dollar held a jump from Friday.

Fresh restrictions in parts of Europe to stem the rapid spread of omicron are rattling investors. Rising cases led the Netherlands to return to lockdown, while U.K. Health Secretary Sajid Javid refused to rule out stronger measures before Christmas. U.S. lockdowns likely won’t be necessary but hospitals may be strained, Biden’s top medical adviser Anthony Fauci said.

Separately, Goldman Sachs Group Inc. economists reduced their U.S. economic growth forecasts after Senator Joe Manchin blindsided the White House on Sunday by rejecting Biden’s roughly $2 trillion tax-and-spending package, leaving Democrats with few options for reviving it.

20 Dec 2021, 02:26:45 PM IST

Top gainers/losers at this hour

Nifty
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Nifty
20 Dec 2021, 02:13:30 PM IST

BUY Wipro: Axis Securities

Investment Rationale:

· Digital transformation business is intact for Wipro: IT service provider’s engagement with its partner network has expanded beyond certifications into setup of co-innovation centers, building industry solutions, ISV partnerships and joint sourcing of deals. These partnerships play a significant role in implementation, rollouts & upgrades, validation and support services. Recent deal trend continues to be robust for Wipro and is reflective of traction in BFSI, Retail & CPG, Manufacturing and BFSI verticals. Wipro will continue to invest in Its digital product, Digital Talent and S&M which is imperative to drive growth. We believe that COVID outbreak will create huge opportunity across geographies for Wipro to post strong organic growth over different verticals.

· Strong sustainable margin gain: Wipro management has taken cost optimization efforts which help them to gain long term sustainable operating margins. There are some tailwinds like better service mix, reducing the marketing spend, lowering travel cost, employee restructuring and improving utilization. We believe gaining the efficiency over business will help them to get more profitability and higher return ratios.

· Healthy deal pipeline improves the visibility: Wipro deal pipeline remained industry leading in Q2 FY22 at $2.1 bn. Wipro won many large transformation deals despite uncertainty and across verticals like BFSI, Communication, manufacturing, Automobile. This healthy deal pipeline will help to improve revenue visibility for FY22E and FY23E

· Strong broad based growth in Q2 FY22: Wipro Ltd (Wipro) delivered an excellent performance on all fronts with revenue at 19,667 Cr, up 8.1% QoQ and 30% YoY in CC terms. While operating profit represnted a growth of 30.8% YoY at 3,492 Cr, operating margin de-grew by 180 bps and stood at 17.7% QoQ, aided by unfavourable currency mix and wage hikes. Net profit for the quarter reported a growth of 34% YoY as it stood at 2,931 Cr. The company’s management gives strong Q3FY22 guidance at 2%-4% revenue growth in CC terms and its commentary continues to be positive in the verticals such as BFSI, Hi-tech Media, Life Sciences, and Communications.

 

 

20 Dec 2021, 02:01:23 PM IST

MapmyIndia IPO: GMP signals strong CE Info Systems share listing

Shares of CE Info Systems or MapmyIndia is going to hit primary market tomorrow as tentative MapmyIndia IPO listing date is 21st December 2021. The public issue worth 1,039.61 crore was subscribed 154.71 times in 3-day bidding from 9th December 2021 to 13th December 2021. However, ahead of MapmyIndia IPO share listing date, grey market is giving strong signals. According to market observers, CE Info Systems shares are available at a premium of 700 in the grey market today. They said that such a high GMP (grey market premium) after strong subscription status indicates strong debut of MapmyIndia shares at Dalal Street.

20 Dec 2021, 01:49:35 PM IST

Tata Steel drops 5%

Source: BSE
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Source: BSE
20 Dec 2021, 01:39:31 PM IST

Zerodha founder Nithin Kamath explains what really moves stock markets

Stock prices change every day by market forces. But have you ever wondered about what drives the stock market—that is, what factors affect a stock's price? Why at one point in time do we see the bullish phase and at another bearish one? To put it simply, if more people want to buy a stock than sell it, then the price moves up. Conversely, if more people wanted to sell a stock than buy it, the price would fall.

Nithin Kamath, the chief executive officer of India’s largest online brokerage Zerodha explains what really moves markets? 

20 Dec 2021, 01:27:30 PM IST

Japanese shares end 2% lower as Omicron fears, China rate cut weigh

Japanese shares closed sharply lower on Monday after a rate cut in China's lending benchmark failed to lift investor sentiment while the spread of the Omicron coronavirus variant continues to stoke worries over an economic slowdown worldwide.

20 Dec 2021, 01:27:02 PM IST

Nifty tanks 500 points

Nifty 50
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Nifty 50
20 Dec 2021, 01:15:10 PM IST

Axis Bank proposes to raise up to ₹5,000 crore by issuing bonds

Private lender Axis Bank on Monday announced its proposal to raise up to 5,000 crore by issuing bonds. In its regulatory filing the bank notified that it proposes to raise funds by issuing senior unsecured taxable redeemable non- convertible debentures worth 10 lakh each for cash at par with base issue size of 2,000 crore and green-shoe option to retain over-subscription of 3,000 crore, aggregating up to 5,000 crore.

20 Dec 2021, 01:04:08 PM IST

All Sensex stocks trading in red

Bloodbath at BSE
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Bloodbath at BSE
20 Dec 2021, 12:52:50 PM IST

Future Group shares in heavy demand, up by 20% after CCI suspends Amazon deal

Shares of Future Group companies on Monday zoomed up to 20% after the Competition Commission suspended its more than two-year-old approval for Amazon's deal with Future Coupons and imposed a 202-crore penalty on the e-commerce major.

20 Dec 2021, 12:39:59 PM IST

Crypto barrels toward 2022 after adding $1.5 trillion in value

Cryptocurrencies were peerless conduits of greed and fear in 2021, alternately minting and wiping out fortunes as they swung wildly while adding some $1.5 trillion in overall market value along the way.

Five key charts tell the tale

20 Dec 2021, 12:28:09 PM IST

Shiram Properties IPO view: Yash Gupta, Equity Research Analyst, Angel One Ltd

Shriram Properties Limited IPO opens at 95, which is a discount of 19.5% to its issue price of 118. Currently, the company is trading at price to book value of 1.83 times, which is attractive compared to other listing residential developers. We suggest investors to hold the stock if they have received the allotment and investor who has not received the allotment can buy at the current price.

20 Dec 2021, 12:15:58 PM IST

Rakesh Jhunjhunwala lost ₹230 crore in these two stocks in 10 minutes

Following weak global cues and rising Omicron crisis, Indian stock market today extended the bear run on Dalal Street. The NSE Nifty crashed 381 points and hit 16,604 levels whereas BSE Sensex nosedived 1250 points and hit 55,761 levels in early morning deals. In this selloff heat, Big Bull Rakesh Jhunjhunwala has lost around 230 crore in his two favourite Tata stocks within 10 minutes of market opening. Those two Tata stocks are — Titan Company and Tata Motors.

20 Dec 2021, 12:06:07 PM IST

For Cipla, surprise product approval in the US brings cheers to investors

Investor confidence in Cipla’s earnings strengthened significantly after it announced the approval for Lanreotide depot injection in the US. The stock gained more than 2% in morning trade on Monday.

The product approval that was not earlier anticipated brings an element of positive surprise for investors, said analysts. Also looking at the size of the product, one can expect significant earnings upgrades.

20 Dec 2021, 12:02:03 PM IST

Markets opening view: Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments

The lows of Friday was a ray of hope but the index has opened with a gap down this morning which cements the validity of a downtrend. The upside for the index is capped for the time being and every rally up can be used to short this market for a target of 16400.

20 Dec 2021, 11:53:00 AM IST

Amid Omicron scare, investors poorer by over ₹11.23 lakh crore in two days of heavy market selloff

In the wake of raging global Omicron infections threatening to derail economic recovery, shares plummeted to their lowest in nearly four months making investors poorer by 11,23,010.78 crore in two days as domestic equity market continued to take severe beating amid a global selloff.

20 Dec 2021, 11:48:36 AM IST

Retail sales up 9% in November compared to pre-covid levels

Retail sales grew 9% in November compared to pre-covid (November 2019), but dropped sequentially, according to a pan-India Retail Business Survey by the Retailers Association of India (RAI).

20 Dec 2021, 11:34:25 AM IST

Nifty Bank in the red

Nifty Bank Index
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Nifty Bank Index
20 Dec 2021, 11:22:42 AM IST

India VIX, a gauge of market volatility, was up by 12.5% from 16.34 to 18.38 levels

20 Dec 2021, 11:10:31 AM IST

LIC IPO is 'on course' in FYQ4 2021, govt rubbishes all speculations

The government has refuted speculations around the delay in the initial public offer (IPO) of Life Insurance Corporation (LIC) and said that it is on course for the IPO in the last quarter of this fiscal. Once listed, LIC is likely to become one of the biggest domestic companies by market capitalisation with an estimated valuation of 8-10 lakh crore.

20 Dec 2021, 10:55:31 AM IST

Weak debut for Shriram Properties shares, list at 23% discount

Shriram Properties shares made a weak debut at BSE and NSE today. The realty stock opened at 90 per share levels on NSE, which is 23.7 per cent lower from its issue price of 113 to 118 per equity share. However, the realty stock has shown some recovery post-listing as Shriram Properties share price at NSE is currently trading at 105.70 apiece levels.

20 Dec 2021, 10:46:53 AM IST

SBI revises interest rates on these fixed deposits (FDs)

The State Bank of India (SBI) has hiked the interest rate on fixed deposits of more than 2 crore, effective December 15, 2021. The increased interest rates will apply to new deposits as well as those that are about to mature. SBI has kept the interest rates on FDs under 2 crore unchanged. Details here

20 Dec 2021, 10:37:57 AM IST

Sensex at this hour

Sensex takes a 1,300-pt plunge
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Sensex takes a 1,300-pt plunge
20 Dec 2021, 10:27:12 AM IST

SEBI bans futures trading in seven commodities

India's market regulator on Monday asked commodity exchanges not to launch futures contracts of soybean, crude palm oil, wheat, rice, chickpea, green gram, rapeseed and mustard for one year.

20 Dec 2021, 10:20:49 AM IST

Petrol, diesel prices today: Fuel rates remain unchanged

Fuel rates have remained steady as petrol and diesel prices have stayed unchanged on Monday across various cities in the country including the national capital Delhi, metro cities Mumbai, Kolkata and Chennai.

Check latest rates today

20 Dec 2021, 10:10:53 AM IST

HDFC Bank, Reliance top drags

Index contribution
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Index contribution
20 Dec 2021, 10:00:31 AM IST

Nifty Metal down 3%, Auto & Bank drag too

Nifty Sectoral Indices
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Nifty Sectoral Indices
20 Dec 2021, 09:50:57 AM IST

Markets extend decline

Markets in the red
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Markets in the red
20 Dec 2021, 09:40:13 AM IST

Gold price today dip for second day in a row, silver rates drop

Gold prices in India dipped today, extending losses to the second day though the drop was moderate. On MCX, gold futures were down 0.04% to 48575 per 10 gram while silver fell 0.45% to 61,856 per kg.

In global markets, gold edged higher to regain $1,800 per ounce levels as concerns over the rapidly spreading Omicron coronavirus variant boosted the metal's safe-haven appeal. Asian share markets were lower today as many countries in Europe imposed fresh restrictions.

20 Dec 2021, 09:33:20 AM IST

Future Retail up 20%

Source: BSE
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Source: BSE
20 Dec 2021, 09:28:28 AM IST

29 of 30 Sensex stocks in the red

Sensex stocks
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Sensex stocks
20 Dec 2021, 09:22:58 AM IST

Nifty tests 16.7k

Nifty50
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Nifty50
20 Dec 2021, 09:19:18 AM IST

Sensex at open

Markets at open
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Markets at open
20 Dec 2021, 09:19:18 AM IST

Sensex stocks in pre-open

Sensex stocks
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Sensex stocks
20 Dec 2021, 09:07:58 AM IST

Shares of Shriram Properties to list on NSE and BSE today

Shares of Shriram Properties are going to list on NSE and BSE today. While allottees are busy calculating about the listing gain they can expect from the real estate company on its listing date, grey market is signaling marginal listing gain from the public issue. According to market observers, shares of Shriram Properties are available at a premium of 15 in grey market on Saturday, which is around 10 per cent higher from upper price band of 118 per equity share.

20 Dec 2021, 09:03:33 AM IST

Nifty in the red in pre-open

Nifty50
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Nifty50
20 Dec 2021, 08:56:41 AM IST

Brent crude extends decline with bearish headwinds mounting

Oil extended declines as the rapid spread of the omicron variant of the virus increased concerns about the outlook for energy demand.

Futures in London fell below $72 a barrel after slipping 2.2% last week. Covid-19 infections are rising from the U.S. to Europe as authorities struggle to tame the spread of omicron. That’s led to some nations placing restrictions on air travel and there are fears that further lockdowns may be implemented, curbing the movement of people and sapping demand for crude and oil products.

20 Dec 2021, 08:46:18 AM IST

Medplus IPO share allotment today. How to check application status online

Finalisation of Medplus Health share allocation is expected today as tentative Medplus IPO allotment date is 20th December 2021. Those who have applied for the public issue worth 1,398.30 crore are advised to check Medplus IPO allotment status online at BSE website or at the website of official registrar of the public offer. The official registrar of the public offer is KFintech Private Limited.

20 Dec 2021, 08:37:34 AM IST

Gold edges higher as traders weigh Omicron risk, monetary policy

Gold held the first weekly gain since mid-November as investors weighed concerns over the spread of the omicron virus variant against tightening monetary policy.

Lockdowns in the U.S. will likely not be necessary even as Covid-19 cases increase, although many hospitals may be strained, especially in regions with lower levels of vaccination, according to President Joe Biden’s top medical adviser, Anthony Fauci. In other parts of the world, the Netherlands returned to lockdown, while U.K. Health Secretary Sajid Javid refused to rule out stronger measures before Christmas.

20 Dec 2021, 08:27:01 AM IST

Fabindia to file for ₹4,000 crore IPO by December end

Ethnic wear retailer Fabindia will file draft documents for its initial public offering before the end of December to raise up to 4,000 crore, two people aware of the development said. The company’s shareholders approved the IPO proposal at an extraordinary general meeting on Saturday.

20 Dec 2021, 08:14:42 AM IST

Stocks to watch

Shares of Future, Airtel, ITC, Tata Motors, among others, will be in focus today.

20 Dec 2021, 07:56:32 AM IST

SGX Nifty futures traded 0.31% lower at 16,967 in early deals

20 Dec 2021, 07:39:35 AM IST

Most Asia stocks, oil drop

U.S. equity futures, most Asian stocks and crude oil fell Monday amid concerns about more curbs to tackle the omicron virus variant and a setback for President Joe Biden’s economic agenda.

MSCI Inc.’s gauge of Asia-Pacific equities was on track to drop for its sixth session in seven. Bond yields dipped, gold edged higher and the dollar held a jump from Friday amid a mood of caution.

Traders were assessing the latest comments from U.S. Senator Joe Manchin, who left Democrats with few options for reviving Biden’s agenda after rejecting the roughly $2 trillion tax-and-spending package.

Fresh lockdowns in parts of Europe to stem the rapid spread of omicron are also unsettling investors and weighing on risk sentiment.

In China, the central bank lowered the one-year loan prime rate for the first time in 20 months while keeping the five-year rate steady. Chinese shares fluctuated. Calls for easing had grown amid a property sector crackdown that’s weighing on economic expansion.

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