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Business News/ Markets / Live Blog/  Sensex ends 90 pts down, Nifty above 17,200; Pharma, Auto gain

Sensex ends 90 pts down, Nifty above 17,200; Pharma, Auto gain

Market closing: Indian stocks ended lower on Wednesday in volatile trade, with pharmaceutical stocks gaining after the country approved a covid-19 pill. Year-end portfolio adjustments limited the gains

Stock Market Today: Sensex fell 90.99 points or 0.16% to end the day at 57,806.49, and the Nifty was down 19.65 points or 0.11% at 17,213.60. (PTI)Premium
Stock Market Today: Sensex fell 90.99 points or 0.16% to end the day at 57,806.49, and the Nifty was down 19.65 points or 0.11% at 17,213.60. (PTI)

Investors are rounding out the year by locking in some profits after a jump in global equities. The coronavirus, Federal Reserve policy tightening and China’s outlook are among the key risks for next year. Worries about omicron are easing on growing evidence that the fast-spreading variant appears milder in nature. The Indian equity markets ended on a volatile note on Wednesday with benchmark Sensex and Nifty opening flat and slipping into red multiple times.

29 Dec 2021, 03:39:31 PM IST

Sensex ends 90 pts down, Nifty above 17,200; Pharma, Auto gain

After a volatile session, India's benchmark indices closed lower on Wednesday with a negative bias.

Sensex fell 90.99 points or 0.16% to end the day at 57,806.49, and the Nifty was down 19.65 points or 0.11% at 17,213.60.

Eicher Motors, Sun Pharma, Bajaj Auto, Divis Lab, abd IndusInd Bank were among the top gainers on Nifty, while SBI, ITC, Coal India, Grasim, and NTPC fell.

Pharma index rose over 1.5% percent and Auto gained 0.42% while metal, oil & gas, power indices ended lower. Broader markets were mixed with MidCaps outperforming.

On Sensex, 12 stocks of the total 30 ended in the green. Sun Pharma was the top gainer.


18 of 30 Sensex stocks ended in the red on 29 December.
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18 of 30 Sensex stocks ended in the red on 29 December.
29 Dec 2021, 03:28:55 PM IST

Crude oil futures gain on higher demand

Crude oil prices on Wednesday rose 2 to 5,685 per barrel as participants widened their positions on a firm spot demand.

On the Multi Commodity Exchange, crude oil for the January delivery traded higher by 2, or 0.04 per cent, to 5,685 per barrel in 8,843 lots.

Analysts said the raising of bets by participants kept crude oil prices higher in the futures trade.

29 Dec 2021, 03:18:33 PM IST

Govt plans to increase washed coking coal supplies to steel sector to 15 mt

The union coal ministry plans to increase washed coking coal supplies to steel sector from 3 million tonne (mt) to 15 mt.

“Coal Ministry giving further boost to steel sector; plans to enhance supply of washed coking coal to steel sector from 3 to 15 Million Ton. Two coking coal washeries commissioned, three more under construction," coal ministry said in a tweet on Wednesday.

29 Dec 2021, 03:07:35 PM IST

Nifty in the green

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29 Dec 2021, 02:56:18 PM IST

RECPDCL hands over transmission SPV to IndiGrid

State-run REC Limited’s subsidiary REC Power Development and Consultancy Ltd (RECPDCL) handed over the special purpose vehicle (SPV) formed for the construction of transmission project for supplying electricity from 1 gigawatt (GW) renewable energy projects in Osmanabad to IndiGrid 1 Limited and IndiGrid 2 Limited on Tuesday. 

29 Dec 2021, 02:46:06 PM IST

Here are 2 top stock picks by HDFC Securities over the next two quarters

Domestic brokerage and research firm HDFC Securities has recommended top two stock picks which are pharmaceuticals company Cadila Healthcare and IT Consulting & Software provider Oracle Financial Services Software Ltd (OFSS) as ‘Buy’ ratings with the time frame of over the next two quarters.

29 Dec 2021, 02:35:25 PM IST

India’s oldest ETF crosses 20 years since launch, delivers return of 16%

MUMBAI: Nippon India ETF Nifty BeES, India’s oldest ETF, has completed 20 years since its launch on 28 December 2001. The exchange traded fund (ETF) was originally launched as part of Benchmark Mutual Fund, which accounts for the BeES part of its name. Since then it has undergone three changes of ownership before ultimately finding a place in the basket of funds managed by Nippon India Asset Management Company (AMC).

Nippon India ETF Nifty BeES has 5,113 crore worth assets under management (AUM). It has delivered a return of 15.98% since inception. It has an expense ratio of just 0.05%. 1 lakh invested in the ETF at inception would now be worth 19.4 lakh.

29 Dec 2021, 02:24:59 PM IST

Stocks in Europe edged higher

Stocks in Europe edged higher on Wednesday along with U.S. equity-index futures as investors assessed the economic implications of the omicron coronavirus outbreak. Treasuries and the dollar were steady.

The Stoxx Europe 600 index nudged to within a whisker of another record, with retailers outperforming. Technology shares declined, following the sector’s retreat in Asia and the U.S. Contracts on the S&P 500 and Nasdaq 100 rose after the rally in U.S. stocks paused on Tuesday. Volumes remained thin into the end of the year in some markets.

29 Dec 2021, 02:15:15 PM IST

4.86 crore IT returns filed for AY 2021-22 till Dec 28

Over 4.86 crore Income Tax Returns (ITRs) have been filed for the Assessment Year 2021-22 till December 28, Income Tax Department data showed on Wednesday.

A total 18,89,057 income tax returns were filed on December 28. With this, the cumulative number of ITRs filed for the Assessment Year 2021-22 rose to 4,86,34,306.

29 Dec 2021, 02:05:05 PM IST

Bajaj Auto commences work at its new EV facility, roll out in June 2022

Bajaj Auto has today announced an investment of 300 crore and commenced work at a brand-new unit at Akurdi for manufacturing electric vehicles. This unit will have a production capacity of 500,000 EVs per annum. Akurdi (Pune) is also the site of the original Chetak scooter factory that made Bajaj Auto a household name in India. It is spread over half a million sq. feet and will employ nearly 800 people.

29 Dec 2021, 01:55:11 PM IST

OKEx lists dogecoin, shiba inu, baby doge and kishu inu on its platform

Global cryptocurrency exchange, OKEx, has listed more coins like axie infinity (AXS), gala (GALA), dogecoin (DOGE), shiba inu (SHIB), baby doge (BABYDOGE), kishu inu (KISHU), and dogelon mars (ELON) under its express buy trading option.

OKEx users can purchase tokens directly using fiat currencies like the Indian rupee, Pakistani rupee, Philippine peso and Vietnamese dong in the express buy area. The platform will help complete the exchange process from fiat into tether (USDT), a stablecoin, and then into the target token.

29 Dec 2021, 01:45:06 PM IST

Paytm Payments Bank appoints three new independent directors

The associate entity of Paytm, Paytm Payments Banks has announced appointment of three independent directors. The board of Paytm Payments Bank has approved the appointment of former DPIIT secretary Ramesh Abhishek), banking veteran with SBI Manju Agarwal, and banker Shinjini Kumar as independent directors.

29 Dec 2021, 01:35:09 PM IST

IPOs in 2022

List of public issues in the pipeline for early next year.

29 Dec 2021, 01:24:11 PM IST

RIL, Sun Pharma, IndusInd Bank most active on Nifty

Source: NSE
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Source: NSE
29 Dec 2021, 01:13:55 PM IST

Nureca up 20%

Source: BSE
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Source: BSE
29 Dec 2021, 01:04:37 PM IST

Infosys invites applications from freshers for process executives. Check details

29 Dec 2021, 12:58:00 PM IST

EPFO e-nomination facility

Retirement fund body Employees’ Provident Fund Organisation (EPFO) has asked all the account holders to add a nominee by 31 December and if a account holder does not add a nominee then the individual may have to forego various benefits offered by EPFO. Subscribers can add nominee online by following the certain steps as suggested by EPFO.

How to do it online in 8 steps as deadline ends on 31 Dec.

29 Dec 2021, 12:47:21 PM IST

Mazagon Dock Shipbuilders approves interim dividend, fixes record date

State-owned Mazagon Dock Shipbuilders informed that the company's board of Directors of at their meeting held on Tuesday, 28 December 2021, approved declaration of interim dividend of 7.10 per share. The board has declared Friday, 7 January, 2022 as the record date for reckoning eligibility of shareholders for the purpose of payment of interim dividend.

Mazagon Dock Shipbuilders Ltd
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Mazagon Dock Shipbuilders Ltd
29 Dec 2021, 12:37:47 PM IST

Most broad market indices on Nifty in the red 

Nifty Broad Market Index
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Nifty Broad Market Index
29 Dec 2021, 12:25:24 PM IST

Oil Holds Near One-Month High on Signs U.S. Stockpiles Falling

Oil held near a one-month high after industry data pointed to another drop in U.S. crude inventories and traders bet the fast-spreading omicron virus variant would prove to be less severe than earlier waves.

West Texas Intermediate was steady near $76 a barrel after gaining 11% over the last five sessions. The American Petroleum Institute reported nationwide crude holdings fell by 3.1 million barrels last week, according to people familiar with the data, which also showed a rise at Cushing, the biggest U.S. storage hub. The government releases the official tally later on Wednesday. (Bloomberg)

29 Dec 2021, 12:15:09 PM IST

This bank will charge customers for depositing more than ₹10,000 from 1 January 2022

India Post Payments Bank (IPPB) is changing its banking rules from 1 January 2022. New rules are being introduced with respect to withdrawal as well as depositing cash. IPPB account holders will have to pay more for depositing cash and making cash withdrawals if they exceed the prescribed limit. 

29 Dec 2021, 12:03:49 PM IST

These 2 Rakesh Jhunjhunwala portfolio Tata Group stocks are Motilal Oswal's top picks for 2022

For the year 2022, domestic brokerage and research firm Motilal Oswal has shared its top stock picks for the new year which includes two Tata Group stocks Tata Motors and Titan, under the list of the brokerage's largecaps ideas. While sectors like banking and auto have underperformed the market so far, Motilal believes that they have the potential to turn out the dark horse in 2022.

29 Dec 2021, 11:52:07 AM IST

Rupee trades in narrow range in early trade against US dollar

The Indian rupee was trading in a narrow range in morning trade on Wednesday as muted domestic equities and firm crude oil prices weighed on investor sentiments.

At the interbank foreign exchange, the rupee started on a tepid note at 74.69 against the dollar. It traded in a narrow band of of 74.68 to 74.76 in initial deals.

On Tuesday, the rupee registered its ninth straight session of gain and surged 30 paise to close at a one-month high of 74.70 against the US dollar.

29 Dec 2021, 11:42:14 AM IST

An Indian conglomerate is offering ₹3 lakh to purchase EV

Mumbai based business conglomerate, JSW Group, is offering incentives to its employees for the purchase of electric vehicles on New Year. The steel major will be offering 3 lakh to its employees starting January 1, 2022 for the purchase of electric vehicles. The company will also be offering parking and charging options as well at its office premises to boost the adoption of EVs among its workers. The amount will be given for electric four wheelers and two wheelers purchases.

29 Dec 2021, 11:29:55 AM IST

Multibagger stock: ICICI Securities sees more upside on this IT share

Zensar Technologies (Zensar) offers application & IMS services to hi-tech, manufacturing, retail and BFSI. The company has grown organically and inorganically over the years with net debt free and healthy double digit return ratio (with RoCE of 19%), highlighted brokerage house ICICI Securities.

Zensar’s share price has grown by around 2.6 times over the past five years (from around 175 in December 2016 to 470 levels in December 2021). The brokerage firm remains positive on the multibagger stock, that is up around 115% this year, and has maintained Buy rating. It values Zensar at 565 per share (target price) with a target period of around twelve months.


29 Dec 2021, 11:19:26 AM IST

Top gainers/losers at this hour

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29 Dec 2021, 11:10:17 AM IST

Mukesh Ambani wants to accelerate leadership transition at Reliance

Richest Indian Mukesh Ambani on Tuesday mentioned about leadership transition at his energy-to-retail conglomerate, saying he wants the process to be accelerated with seniors, including him, yielding to the younger generation.

29 Dec 2021, 10:58:12 AM IST

Top gainers/losers in the BSE MidCap index

BSE MidCap Index
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BSE MidCap Index
29 Dec 2021, 10:49:02 AM IST

BUY Ultratech Cement: ICICI Securities

We expect UltraTech Cement (UTCEM) to continue to post industry leading growth and profitability over FY21-24E backed by low-cost brownfield expansions and increased cost efficiencies. Its diversified pan-India market mix, premium brand positioning, strong distribution network and large presence in non-trade segment allow it to wither current demand uncertainties much better than peers.

Cost-saving initiatives may result in Rs100/te benefits (our estimate) by FY24E, and RoCE (post-tax) may expand by >400bps over FY22-24E to ~17%. Dividend payout ratio has increased from 10% in FY20 to 20% in FY21 which may rise further as UTCEM is likely to generate Rs200bn FCF over FY21-24E. Maintain BUY with an unchanged target price of Rs8,850/sh (15x Dec’23E EV/E). UTCEM remains our top pick. 
Key risk: Lower demand/pricing.


29 Dec 2021, 10:38:27 AM IST

Amara Raja to invest in this European EV battery maker, aims foothold

Amara Raja Batteries Limited, industrial and automotive battery maker, has today announced its plans to invest in InoBat Auto, a European technology developer and manufacturer of premium innovative batteries for e-mobility. The initial investment will give Amara Raja a key foothold in the thriving European EV ecosystem, where multiple battery gigafactories are being set up to support the region’s determined EV push, including in the UK, which is seeing a rising need to address increasing demand for electric vehicles. 

29 Dec 2021, 10:28:14 AM IST

INOX opens cinemas in Dhanbad, Gurugram

India’s second-largest multiplex chain, INOX Leisure Ltd has announced the launch of a four-screen theatre in Dhanbad and a five-screen property in Gurugram. This is INOX’s second property in Jharkhand and ninth in Haryana. 

29 Dec 2021, 10:18:13 AM IST

Sebi tightens rules amid IPO frenzy

The markets regulator on Tuesday tightened rules for initial public offerings aimed at tackling regulatory gaps and extreme stock price volatility on their trading debut, after a record year for IPOs that saw Indian companies raise 1.19 trillion.

The new rules address how companies set IPO price bands, when anchor investors can sell their shares, disclosures about how the company can spend share sale proceeds, and how much large shareholders can sell on listing day.

29 Dec 2021, 10:08:33 AM IST

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

It is heartening to see the Nifty above 17250; it needs to close above this level. That is crucial. If we can trade between 17250-17300 for a couple of sessions we should be heading to 17600. A strong support lies at 16800 and every dip can now be utilized to accumulate long positions.


29 Dec 2021, 09:58:07 AM IST

FMCG, Metal fall

Nifty Sectoral Indices
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Nifty Sectoral Indices
29 Dec 2021, 09:48:24 AM IST

This newly listed specialty chemical stock gets over 37% upside target from Anand Rathi

Ami Organics is one of the major manufacturers of Pharma Intermediates for certain key APIs, including Dolutegravir, Trazodone, Entacapone, Nintedanib and Rivaroxaban which find application in certain high-growth therapeutic areas, commanding significant market share both in India and globally.

With the presence in high growing and niche markets, Ami Organics Limited is set to continue to post better growth in mid term, as per brokerage house Anand Rathi. It has initiated coverage on the specialty chemical stock with a Buy rating and a target price of 1,354 per share.

29 Dec 2021, 09:37:16 AM IST

IndusInd Bank, Dr Reddy's, Sun Pharma lead Sensex stocks

15 of 30 Sensex stocks in the red.
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15 of 30 Sensex stocks in the red.
29 Dec 2021, 09:27:35 AM IST

Nifty above 17,200-mark at open

Nifty at open
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Nifty at open
29 Dec 2021, 09:17:39 AM IST

Sensex at open

BSE Sensex
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BSE Sensex
29 Dec 2021, 09:09:39 AM IST

Nifty in pre-open

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29 Dec 2021, 09:04:51 AM IST

Markets in pre-open

BSE Sensex
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BSE Sensex
29 Dec 2021, 08:58:02 AM IST

Day trading guide for Wednesday

3 stocks to buy or sell today — 29th December.

29 Dec 2021, 08:49:07 AM IST

₹2.75 to ₹178.30: Multibagger penny stock turns ₹1 lakh to ₹65 lakh in one year

Despite the world reeling under the heat of the Covid-19 pandemic, Indian equity market climbed record high giving a good number of multibagger stocks in 2021. Interestingly, this rally in the stock market was participatory as the list of multibagger stocks in India includes some penny stocks too. Tata Teleservices share is one such multibagger penny stock that surged from 2.75 to 178.30 per share levels, appreciating to the tune of near 65 times in near one year time.

29 Dec 2021, 08:39:04 AM IST

These 5 stocks are top picks for 2022, says analyst

We will enter New Year 2022 in just a couple of days. We always seem to make new lists - be it personal or financial. Stock markets analysts are scouring through the markets, finding the stocks they like, and putting together their lists of ‘Top Picks,’.

Top stocks recommendations for the upcoming year 2022 includes SBI, GAIL, HDFC Bank, TCS, among others.

29 Dec 2021, 08:29:58 AM IST

Cryptocurrency prices today plunge. Bitcoin below $48,000, dogecoin, Shiba Inu fall over 5%

Bitcoin extended losses, deepening its December decline with the world's most popular and largest cryptocurrency by market capitalization trading 5% lower to $47,912, after it slid below $50,000 mark on Tuesday. Bitcoin, famed for its volatility, has shed more than $21,000 since hitting a record in early November, and is up around 64% in 2021 (year-to-date or YTD). Check latest prices.

29 Dec 2021, 08:15:02 AM IST

3 stocks are under NSE's F&O ban list for today

RBL Bank, Vodafone Idea and Indiabulls Housing Finance are the three stocks that continue to be under the ban for trade on Wednesday, December 29, 2021 under the futures and options (F&O) segment by the National Stock Exchange (NSE). These securities have been put on ban under the F&O segment as they have crossed 95% of the market-wide position limit (MWPL), as per the NSE.

29 Dec 2021, 08:07:22 AM IST

Market view: Sameet Chavan (Chief Analyst-Technical and Derivatives, Angel One Ltd)

Nifty enters the key zone, all eyes on financials now

Yesterday’s (Monday) spectacular recovery was followed by a decent bump at the opening today (Tuesday), citing to positive mood across the globe. The index extended its early lead a bit to surpass the 17200 mark and then slipped into a consolidation mode. All of a sudden at the stroke of the penultimate hour, market came off sharply on the back of some profit booking. Fortunately this tiny dip got bought into as Nifty went on to conclude the session around day’s high by reclaiming 17200.

Last week, around the same time, things were looking a bit dicey but in such a short span, we are back to the safe terrain comfortably above 17000. Now with recent price development, the base seems to have shifted higher towards 17000 – 16800 and till the time we do not slide below it, there is no reason to worry for. Before this, 17100 is to be considered as intraday support. On the flipside, the Nifty has now entered a key resistance zone of 17200 – 17300. With reference to recent commentary, if bulls have to regain their dominance, they need to conquer this sturdy wall with some authority. In order to achieve this, it needs a solid support from banking giants, because the initial lifting of the market was done predominantly by the IT counters and now it’s time for financial space to prove its significance. Let’s see how things pan out over the next couple of sessions as we are not only approaching the monthly expiry but also the calendar year end.

In our sense, if any major action has to happen, it will happen in the new year itself. Hence, for next couple of days, the pragmatic approach would be to keep focusing on individual themes which are continuously providing better trading opportunities.

29 Dec 2021, 08:02:14 AM IST

Stocks to Watch: RIL, Airtel, ITC, Tata Consumer, Sun Pharma

Here is the list of the top 10 stocks that are likely to be in focus on Wednesday:

29 Dec 2021, 07:57:19 AM IST

SGX Nifty futures trading 49 points (0.28%) higher at 17,266.50 in early deals

29 Dec 2021, 07:54:30 AM IST

Asian stocks slip

Most Asian stocks dipped Wednesday after a technology selloff weighed on U.S. equities and as investors assessed the omicron virus-strain outbreak.

Shares slipped in Japan, technology stocks retreated in Hong Kong and China edged down. U.S. futures fluctuated after the S&P 500 and the Nasdaq 100 weakened Tuesday, snapping four sessions of gains. Volumes remained thin into the end of the year in some markets.

Sentiment in China is being sapped by Beijing’s tightening oversight of overseas share sales and economic risks from a property slowdown. Authorities are expected to add stimulus next year to steady expansion.

Treasury yields fell and a dollar gauge inched higher. Crude oil held around a one-month high partly on bets that the global recovery will ride out omicron. Bitcoin was around $48,000 after a tumble that hinted at diminished ardor for the most speculative assets.

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