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Market Highlights: Sensex, Nifty end with mild gains; Fed rate decision in focus

Market Closing: Benchmark indices Sensex and Nifty ended with marginal gains on Wednesday as investors exercised caution ahead of the US Federal Reserve's decision on interest rates

Share Market Close: Markets are cautious ahead of Fed decision on interest rates. (Photo: Reuters)

Market Closing: Benchmark share indices ended flat with investors exercising caution as they awaited the US Federal Reserve's decision on interest rates on Wednesday. Sensex gained 0.05% to close at 69,584.60, while the Nifty rose 0.1% or 19.95 points to end at 20,936. Indices fell sharply in today's session as IT stocks dragged over 2% but later recouped the losses. Domestic and U.S. inflation data dampened sentiment as traders worried about the likelihood of a postponement in interest rate cuts. India's retail inflation in November witnessed its quickest increase in three months at 5.55%, up from 4.87% in October and 5.02% in September; the figure is higher than RBI’s target of 4%, but still remains within its tolerance range of 2-6% for the third consecutive month. The Indian rupee ended flat at 83.40 against the US dollar.

Global shares were mixed on Wednesday as traders waited for the year's final policy decision from the Federal Reserve and clues on whether the central bank will cut rates next year. MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.7%, while Eurostoxx 50 futures slipped 0.02%. S&P 500 futures rose 0.1%, while Nasdaq futures bounced 0.17%.

 

13 Dec 2023, 03:35 PM IST Market Closing: Sensex, Nifty end with mild gains; Fed decision in focus

 Benchmark share indices ended flat with investors exercising caution as they awaited the US Federal Reserve's decision on interest rates on Wednesday. Sensex gained 0.05% and closed at 69,584.60, while the Nifty rose by 0.1% or 19.95 points to end at 20,936. The domestic and U.S. inflation data dampened sentiment as traders worried about the likelihood of a postponement in interest rate cuts. Indices fell sharply in today's session as IT stocks dragged over 2% in morning trade. Auto, pharma, and metal stocks were the winners through the day. NTPC, Power Grid, Adani Ports were the best performers, while TCS, Infy and Axis Bank lagged. Midcap and smallcaps stocks outperformed the benchmarks today. The Indian rupee fell 3 paise to settle at 83.40 (provisional) against US dollar.

13 Dec 2023, 03:24 PM IST Sensex Today Live: NLC India's plant to produce construction-grade sand to become operational next month; stock jumps 9.5%

State-owned lignite producer NLC India on Wednesday said its proposed plant for manufacturing construction-grade sand using mine overburden is expected to begin operations by January-end. (PTI)

13 Dec 2023, 03:13 PM IST Sensex Today Live: Sensex, Nifty recoup losses to trade flat

BSE
13 Dec 2023, 03:07 PM IST Sensex Today Live: Foxconn gets nod to infuse $1 billion more in Apple India plant: Report

13 Dec 2023, 02:56 PM IST Sensex Today Live: Recharge your portfolio with the best EV battery stocks in 2024 

Demand for electric vehicles (EVs) in India is gaining momentum. According to the government’s Vahan dashboard, 1.4 million million EVs have been registered so far this calendar year – 37% more than in 2022. Read Equitymaster's top EV battery makers to look out for in 2024.

13 Dec 2023, 02:42 PM IST Sensex Today Live: IndiGo shares gain for 12 straight days, longest winning streak for airline 

As of 13 December, the stock has been on an upward trajectory for the twelfth consecutive day, surpassing its previous record of 11 straight days of positive movements. During intra-day trading, the stock rose as much as 2.5%, hitting a new all-time high of 3,006.90. It has now soared 66% from its 52-week low of 1,810.45, seen on 28 March.

13 Dec 2023, 02:28 PM IST Sensex Today Live: M&M says will invest ₹8.75 billion in unit Classic Legends along with external investors

The automaker said on Wednesday that the company, along with external investors, will invest 8.75 billion in unit, Classic Legends, over the next two to three years.

13 Dec 2023, 02:14 PM IST Sensex Today Live: Titagarh Rail Systems raises ₹700 crore via issue of shares to QIBs

Titagarh Rail Systems Ltd on Wednesday said it has raised 699.9 crore by issuing fresh shares to Qualified Institutional Buyers.

The issue of Titagarh Rail Systems Ltd (TRSL), formerly known as Titagarh Wagons Ltd, opened on December 7 and closed on Tuesday. (PTI)

13 Dec 2023, 02:03 PM IST Sensex Today Live: Granules India gets US FDA nod for generic pantoprazole sodium tabletsused to treat gastroesophageal reflux disease

Granules India Ltd has got approval from the US Food and Drug Administration for its generic version of pantoprazole sodium delayed-release tablets. These tablets are commonly prescribed for the short-term management of erosive esophagitis, a condition linked to gastroesophageal reflux disease. 

13 Dec 2023, 01:49 PM IST Sensex Today Live: DOMS Industries IPO and India Shelter Finance IPO open for subscription today

DOMS Industries IPO and India Shelter Finance IPO opened for subscription today. So far DOMS Industries IPO has seen stellar response from investors while the India Shelter Finance IPO is trying to sail through its first day of subscription. 

Mohit Gulati, CIO & Managing Partner of ITI Growth Opportunities Fund, "For DOMS IPO, I can only say, “Make Hay when the Sun is shining!" After the recent success of writing instrument companies, getting a significant player in scholastic stationery to list at the heights of this euphoric bull market is only fair. Businesses like these are, in some ways, similar to staple FMCG- evergreen and unfazed by the usual downhills of macros.

“One should pick India Shelter Finance IPO over Doms Industries IPO," said Vinit Bolinjkar, head of Research, Ventura Securities.

According to Bolinjkar, India Shelter provides home loans and loan against property (LAP) to individuals in tier-II and tier-III regions, catering to both salaried and self-employed clients. With a presence in 15 states and 203 branches, the company manages a total Assets Under Management (AUM) of 5,180.7 crore as of September 2023.

13 Dec 2023, 01:35 PM IST Sensex Today Live: Profitmart sees 35% upside in Anmol India shares despite 115% rally in YTD

As per the research report published by Profitmart Securities, Anmol India shares may touch 87 per share levels in long term. Anmol India share price today is 64.25 apiece, which means the brokerage is expecting 35% per cent upside in this small-cap stock.

13 Dec 2023, 01:21 PM IST Sensex Today Live: Allcargo Terminals gains 2% as company reports increase in volume

The company said its container freight stations (CFS) saw a year-on-year volume increase of 2% in November, but witnessed a quarter-on-quarter decline of 13%, totaling 47.1 TEUs.

13 Dec 2023, 01:09 PM IST Sensex Today Live: Global shares mixed as traders await Federal Reserve's rate decision

Asian shares were mixed on Wednesday as traders waited for the year's final policy decision from the Federal Reserve and clues on whether the central bank will cut rates next year.

Market expectations are for policymakers to keep rates on hold. MSCI's broadest index of Asia-Pacific shares outside Japan falling 0.7%. Japan's Nikkei gained 0.25%, while Eurostoxx 50 futures slipped 0.02%. FTSE futures were little changed.

S&P 500 futures rose 0.1%, while Nasdaq futures bounced 0.17%.

13 Dec 2023, 12:55 PM IST Sensex Today Live: Delegates at UN climate summit agree to transition away from planet fossil fuels, reports AP

13 Dec 2023, 12:48 PM IST Sensex Today Live: Smallcap stocks outshine in a weak market; Tanla  Solutions soars 19%

BSE
13 Dec 2023, 12:38 PM IST Sensex Today Live: UPL included in Dow Jones Sustainability World and Emerging Markets Indices

13 Dec 2023, 12:28 PM IST Sensex Today Live: Axis Bank  down 1% on reports of block deals

Bain Capital, a leading private equity firm may have offloaded an additional share in Axis Bank through a new block deal valued at $444 million, according to Moneycontrol. Affiliates of Bain Capital are planning to divest a 1.1% stake in the private sector bank through this block deal, with the proposed starting price set at 1,109 per share.

13 Dec 2023, 12:17 PM IST Sensex Today Live: UltraTech Cement share price crosses ₹10,000 mark, up 40% this year

Shares of UltraTech Cement, a flagship company of the Aditya Birla Group, surged beyond the 10,000 mark for the first time, reaching an all-time high of 10,042.95 apiece, gaining 1.82%. This impressive performance has propelled the company's market capitalization to nearly 3 lakh crore.

13 Dec 2023, 12:04 PM IST Sensex Today Live noon update: Sensex slips 396 to 69,154.38; Infy, TCS down nearly 3% 

Sensex slips 396 to 69,154.38 as investors exercise caution ahead of US Federal Reserve's decision; Infy, TCS down nearly 3%

13 Dec 2023, 11:53 AM IST Sensex Today Live: Spandana Sphoorty Fin expects to cross ₹15,000 crore AUM by FY25; shares gain

Leading microfinance player Spandana Sphoorty Financial is hopeful of meeting its FY25 target of crossing 15,000 crore AUM as it has already crossed 10,000 crore till November.

The Hyderabad-based company had an AUM of 9,784 crore as of September this year, up from 5,782 crore in the year-ago period. It has earned 152 crore in net income, which rose nearly threefold from 55 crore.

13 Dec 2023, 11:39 AM IST Sensex Today Live: Sensex at day's low, down 400 points dragged by IT heavyweights TCS and Infosys

Sensex was at the day's low, down 350 points dragged by IT heavyweights TCS and Infosys

BSE
13 Dec 2023, 11:25 AM IST Sensex Today Live: ITC's FMCG business grows at 14% CAGR in last 3 yrs; shares rise

The conglomerate has reported a significant growth in its FMCG sector, achieving a compounded annual growth rate of 14% over the past three years. This growth is particularly highlighted by the success of its Aashirvaad brand, which has reached a milestone of 8,000 crore in consumer spending. 

13 Dec 2023, 11:13 AM IST Sensex Today Live: Crude oil steadies after tumbling 4% earlier

Oil steadied after a steep drop as rising Russian flows and higher US output added to concerns that supply is running ahead of demand.

Global benchmark Brent traded near $73 a barrel after shedding almost 4% on Tuesday, while West Texas Intermediate was above $68. 

13 Dec 2023, 10:57 AM IST Sensex Today Live: Sensex drops 300 points dragged by Infosys, TCS, HDFC Bank, Axis Bank

Sensex drops 300 points to 69,254 dragged by Infosys, TCS, HDFC Bank, Axis Bank. Nifty was down 90 points 20,810.

..
13 Dec 2023, 10:42 AM IST Sensex Today Live: Force Motors jumps 2%; acquires a 12.21% stake in TP Surya

The manufacturer of commercial vehicles said it has acquired a 12.21% stake in TP Surya Ltd for 2.68 crore, marking its entry into the into the renewable energy sector. TP Surya Ltd, a fully-owned subsidiary of Tata Power Renewable Energy Ltd, operates as a special purpose vehicle (SPV) dedicated to developing ground-mounted solar photovoltaic power projects in Maharashtra.

13 Dec 2023, 10:27 AM IST Sensex Today Live: Amnish Aggarwal - Head of Research, Prabhudas Lilladher on ITC

“We remain positive innovation and digitization led strategy with sustained growth and 100% jump in ROCE of non-cigarette businesses and overall Rs947bn cash generation in last 10 years. ITC trades at 24.9/22.9x FY25/FY26 EPS with ~3% dividend yield and 9.7% EPS CAGR over FY23-26. Maintain Accumulate with SOTP based target price of Rs492."

Key Highlights:

§ Demand: Urban remains resilient however rural is still under pressure although some green shoots are emerging. Next two quarters to see better trajectory

§ New FMCG – ITC is targeting 80bps-100bps margin improvement every year led by premiumisation (30/40bps), scale (20bps), 100bps over time in ICML, freight and cost optimisation

§ Foods - New experience business/sunrise/noodles continue to see market share gain with current market share being 60%/53%(north east and WB)/20%. ITC sees huge opportunity in premium food product led by protein bar, yoga bar will be distributed with existing distributors network.

§ Personal care remains challenging segment with difficult in scaling this business. Turnaround is likely in medium term with portfolio refresh & exploring new segments and innovations.

§ Paper and Paperboard – The business is looking at capacity expansion and sustainable packaging, profitability should improve as pricing pressure due to Chinese dumping and low waste paper price seems over

§ Hotels – ITC is poised for sustained growth given strong trends in ARR/ Occupancy, 20% capacity with less than 5-year linage, target to open 25 hotels in 2 years and target of 200 hotels with 18000 rooms with 2/3rd managed hotels.

§ Agri Business – Agri business has identified Nicotine as a big export opportunity with huge demand supply gap and 50% contribution margin.

§ ITC Infotech – ITC Infotech has 18-20% margins and bagged two big deals from BAT and PTC last year, Digitisation and emerging segments are likely to be key growth drivers while inorganic acquisitions will boost growth.

§ Food tech – ITC’s pilot in Food tech segment under 3 brands of ITC Master Chef, Sunfeast Baked creations and Aashirvaad soul creations has been a success with more than 1mn orders in Bangalore. ITC has now entered Chennai market and plans to enter in other metros gradually.

§ ITC is seeing good traction in digital channel/ MT/ in-house app with each contributing 16%/15%/6% to overall trade.

§ Capex - ITC CAPEX is aimed at 1) innovation 2) new growth vectors 3) sustainable packaging & food tech 4) M&A. Management has guided an annual capex of Rs30-Rs32bn out which ~40%/~35%/25% to be utilized towards FMCG /Paper/ technology and Agri business

13 Dec 2023, 10:14 AM IST Sensex Today Live: KIOCL down 1.5% as co halts ops at pellet facility

The state-owned company has announced the temporary halt of activities at its pellet manufacturing facility in Mangalore, starting Tuesday due to the lack of availability in iron-ore fines, which are essential for the plant's functionality.

13 Dec 2023, 10:01 AM IST Sensex Today Live: Laurus Labs down 2.7%; gets FDA form with 5 observations

The pharma company said its fully-owned subsidiary Laurus Synthesis Private underwent a thorough inspection by the US FDA from 4 to 12 December, following which the FDA issued a Form 483 that contained five observations.

13 Dec 2023, 09:54 AM IST Sensex Today Live: Smallcap and Midcap indices outperform benchmark Sensex in early trade 

Smallcap and Midcap indices outperform benchmark Sensex which saw minor cuts in early trade as investors booked profit in heavyweights.

13 Dec 2023, 09:42 AM IST Sensex Today Live: DOMS Industries IPO garners ₹537.7 crore from anchor investors 

DOMS Industries garnered 537.7 crore in capital via an anchor book process ahead of its opening on Tuesday. This process involved a total of 55 anchor investors, including several prominent participants such as Goldman Sachs, Theleme India Master Fund, Ashoka Whiteoak Emerging Markets, Abu Dhabi Investment Authority, Optimix Wholesale Global Emerging Markets, Fidelity Funds, and Belgrave Investment Fund, who contributed to the public issue's anchor book. The company has fixed the price at 750 to 790 per equity share.

13 Dec 2023, 09:31 AM IST Sensex Today Live: Nifty IT drags; Infosys, TCS biggest laggards

Nifty IT slips 0.7% as heavyweights Infosys, TCS lag; Wipro bucks trend

NSE
13 Dec 2023, 09:25 AM IST Sensex Today Live: Sensex down 100 points as TCS, HDFC Bank drag

At 0924 am, Sensex is down 100 points at 69,426 as TCS, Infosys HDFC Bank drag. NTPC, ITC lead among gainers

BSE
13 Dec 2023, 09:16 AM IST Sensex Today Live: Markets open flat with a negative bias

13 Dec 2023, 09:11 AM IST Sensex Today Live: Indian rupee falls 1 paisa to 83.38 against the US dollar in early trade

13 Dec 2023, 09:03 AM IST Sensex Today Live: Sensex, Nifty in the green at pre-open; Axis Bank, Wipro in focus 

At 0902 am, the Sensex was at 69,717.64, up 166.61 points. Wipro, Cummins, Force Motors, Laurus Labs, Indian Bank, Mankind Pharma and Axis Bank are in focus today

13 Dec 2023, 08:51 AM IST Sensex Today Live: FIIs buy shares worth ₹76.86 crore as stock markets fall

Foreign institutional investors (FIIs) sold stocks of Indian companies worth 15,960.23 crore and bought stocks for 16,037.09 crore, resulting in an inflow of 76.86 crore, according to NSE data.

Domestic institutional investors (DIIs) bought equities worth 12,206.24 crore and offloaded shares worth 10,282.92 crore, resulting in an inflow of 1,923.32 crore, the exchange data showed. On Monday, FIIs’ net inflow was recorded at 1,261.13 crore, while DIIs’ net outflow was recorded at 1,032.92 crore.

13 Dec 2023, 08:40 AM IST Sensex Today Live: JLR still holds key to Tata Motors’ success

The New Year will begin with many automobile companies raising prices of their vehicles. Tata Motors Ltd will also raise prices of its commercial vehicles (CVs) by up to 3% from 1 January. The spotlight is on Tata Motors’ British subsidiary, Jaguar Land Rover Automotive Plc (JLR), which contributed about 68% and 75% of consolidated revenues and pre-tax profit in Q2FY24. Remember, shares of Tata Motors have raced ahead in 2023, gaining as much as 84% so far. (read more)

13 Dec 2023, 08:25 AM IST Sensex Today Live: Sensex and Nifty may open higher tracking Gift Nifty

Benchmark indices Sensex and Nifty are expected to start Wednesday's trading session on a positive note, with the GIFT Nifty showing an uptick. It is currently up around 42 points from the previous close, amid mixed signals from global markets. Presently, the GIFT Nifty is hovering around the 21,067 mark. The Nifty and Sensex broke their two-day run of gains on Tuesday, as market participants took to profit-taking in several key stocks. Sensex ended at 69,551.03, down 0.54%, while Nifty ended 91 points lower at 20,906.40.

13 Dec 2023, 08:11 AM IST Sensex Today Live: Stocks to Watch: Wipro, Cummins, Force Motors, Laurus Labs, Indian Bank, Mankind Pharma

Wipro, Cummins, Force Motors, Laurus Labs, Indian Bank, Mankind Pharma, Axis Bank, Allcargo Terminals are some stocks that will be in focus on Wednesday.

13 Dec 2023, 08:01 AM IST Sensex Today Live: India's factories power up; food prices fuel retail inflation

Industrial output growth accelerated to a 16-month high of 11.7% in October driven by mining, manufacturing and electricity, and the statistical effect of a low base, while retail inflation in November rose at the fastest pace in three months. 

Meanwhile, consumer price index-based inflation stood at 5.55% in November, up from 4.87% in October and 5.02% in September; the figure is higher than RBI’s target of 4%, but still remains within its tolerance range of 2-6% for the third consecutive month. In November 2022, retail inflation was reported at 5.88%.

13 Dec 2023, 07:51 AM IST Sensex Today Live: Asian stocks mixed amid mild gains in Wall Street

In Asia, stock markets showed mixed performances following subdued activity on Wall Street, as investors awaited the final Federal Reserve decision of the year. This anticipation was heightened by lackluster US inflation figures, which fueled concerns that the Federal Reserve might not be quick to declare a win in its policy efforts. Wall Street experienced a significant surge, reaching its highest level in nearly 23 months, and came close to surpassing its record peak. 

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