sensex today: Stock Market Highlight: Nifty charts hint at rise in pessimism. What traders should do next week – Economic Times
The weekly charts also painted a bearish tone in the near term. “The short term uptrend status of Nifty seems to have reversed down. Having moved below the crucial support of 18,550-18,500 levels, Nifty is expected to slide down to the next key lower support of 18150-18100 levels in the near term,” Nagaraj Shetti, Technical Research Analyst, HDFC NSE 0.27 % Securities, said.
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“The Bank Nifty index witnessed some selling pressure at higher levels where fresh short positions were built up. The index is still trading in a broad range between 43,000-44,000 where a significant amount of put and call writing has been witnessed respectively. The index must decisively breach the range for a trending move on either side.”
– Kunal Shah, Senior Technical Analyst at LKP Securities
Nifty charts hint at rise in pessimism. What traders should do next week
Headline equity index Nifty today formed a long negative candle on the daily chart with minor lower shadow, indicating downside breakout of the range-bound movement of the last few sessions. Analysts fear more weakness in the short term.
PSP Projects bags order for civil construction project worth Rs 121.51 Crore from Nila Spaces.
Price as on 09 Dec, 2022 05:11 PM, Click on company names for their live prices.
Profit taking was back in action as investors dumped IT, metal and realty stocks, even as benchmark Sensex still managed to end above the psychological level of 62000 mark. The recent trend indicates that markets may continue to exhibit intra-day volatility as investors keenly await the outcome of the US Fed’s decision on interest rate next week. More than the rate hike, investors would be more interested in knowing about the forward looking statement on inflation and rate decision going ahead. Technically, the lower top formation on intraday charts and bearish candle on weekly charts is indicating further weakness from the current levels. For short-term traders, the 20-day SMA (Simple Moving Average) or 18450 would act as a sacrosanct support zone, above which, we could expect a one pullback rally till 18700. In case of any further upside, the index could move up to 17800. On the flip side, below 20 day SMA or 18450, further sell off is possible till 18300-18200.
– Amol Athawale, Deputy Vice President – Technical Research, Kotak Securities Ltd
Domestic indices pared its early gains despite strength in global peers. Weak Nov Mutual Fund inflow data and downbeat outlook by IT giant HCL tech led to some profit booking in the market. Nifty opened positive but reversed its initial gains to close with loss of 113 points at 18497 levels. Buying was seen in FMCG, Pharma and Banking sector stocks. IT sector saw sharp decline after HCL Tech said that it expects FY23 revenue growth to be at the lower end of its 13.5%-14.5% guidance due to furloughs and drop in spending in some sectors. Markets seems to be consolidating for last few sessions as participants are lightning their position ahead of crucial US Fed meeting next week. US PPI data to be released later on Friday as well as US CPI data on 13th Dec – would be keenly watched as they would influence the Fed’s interest rate decision. Further, FIIs have remained net sellers (Rs.5500crs) in December so far (baring one positive day) and added to the overall pressure in the market. Nifty has corrected by nearly 400 points (2%) after making a new high of 18,888 last week. We expect the consolidative mode to continue till key central banks like US Fed, ECB, BoE outcome next week. We expect weakness in tech stocks to continue on account of weak growth outlook, FMCG stocks are expected to do well on the back of fall in commodity prices and improving demand.
– Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services Ltd.
Inflows via mutual funds SIP hit fresh high at Rs 13,306 cr in Nov
However, inflows in equity mutual fund schemes plunged 76 per cent to Rs 2,258 crore in November from Rs 9,390 crore in the preceding month, data released by the Association of Mutual Funds in India (Amfi) showed on Friday.
This was also the 21st straight month of inflows into equity schemes.
As per the data, flows through SIP was Rs 13,306 crore in November, surpassing the previous high of Rs 13,041 crore in October.
Today’s downfall in the domestic market was sparked by IT stocks extending their losses after warning of a potential slowdown in business on global recession fears. This was further aggravated by banks losing their grip as PSBs suffered heavy sell-offs. However, global bourses were largely positive, although the Fed is expected to raise interest rates by 50 basis points next week.
– Vinod Nair, Head of Research at Geojit Financial
Nifty remained volatile before closing lower as Nifty ended more than 100 points lower. On the daily chart, the index slipped below the recent consolidation, suggesting a rise in pessimism. Besides, the bulls failed to protect the 18,500. Going forward, the trend may remain negative with support placed at 18,350/18,200. On the higher end, 18,670 may act as crucial resistance.
– Rupak De, Senior Technical Analyst at LKP Securities
Closing Bell: Sensex tumbles 389 points; Nifty settles below 18,500; Tech Mahindra cracks 4%, Infosys 3%
Most of the Broad Market Indices turn red in the closing trade
V-Guard Industries to acquire 100% stake in Sunflame Enterprises for Rs 660 crore. Transaction expected to be completed by mid of January 2023.
Price as on 09 Dec, 2022 02:53 PM, Click on company names for their live prices.
European shares rise as industrials, financials gain on China optimism
The region-wide STOXX 600 index was up 0.2% at 0810 a.m. GMT and appeared set to snap a five-day losing streak that was largely driven by concerns about an impending global recession brought on by sharp rate hikes from central banks.
Data on Thursday showing a rise in U.S. weekly jobless claims, however, has raised investor hopes that the Federal Reserve could temper its aggressive stance on interest rate hikes.
Top Sensex drags in late afternoon trade
Price as on 09 Dec, 2022 02:25 PM, Click on company names for their live prices.
Indian banks raise $2 billion via infrastructure bonds in 2 weeks
Two private lenders and one state-run bank have tapped the market to raise funds using these bonds in this period. Last week, the nation’s largest lender State Bank of India raised 100 billion Indian rupees ($1.22 billion) in the largest such issue.
Other banks that raised similar funds include ICICI Bank, which concluded a 50 billion rupees seven-year bond issue this week, and Kotak Mahindra Bank that garnered 15 billion rupees.
Several private lenders like Axis Bank and HDFC Bank are also planning infrastructure bonds in coming weeks, said merchant bankers, who spoke on condition of anonymity since their plans have yet to be firmed.
SBI to consider additional tier-1 capital raise via debt issue: Agencies
Price as on 09 Dec, 2022 02:19 PM, Click on company names for their live prices.
Bajaj Consumer Care today announced Rs 80.89 crore buyback at a price of Rs 240 per share through the open market route. The decision was taken a board meeting of the company held in Mumbai today.
Price as on 09 Dec, 2022 02:10 PM, Click on company names for their live prices.
Alembic Pharmaceuticals receives Establishment Inspection Report (EIR) for its Oncology Injectable Formulation Facility at Panelav
Price as on 09 Dec, 2022 01:32 PM, Click on company names for their live prices.
Japanese shares jump on Wall Street gains, China hopes
The Nikkei share average closed 1.18% higher at 27,901.01, marking its biggest daily gain since Nov. 11. For the week, it rose 0.44%.
The broader Topix climbed 1.03% to 1,961.56, rising 0.39% for the week.
U.S. stocks advanced overnight, with the S&P 500 snapping a five-session losing streak, as investors interpreted data showing a rise in weekly jobless claims as a sign the pace of the Federal Reserve’s interest rate hikes could soon slow.
HCL Tech, BOI, IDBI Bank among the top losers
Price as on 09 Dec, 2022 01:04 PM, Click on company names for their live prices.
Sensex tumbles over 450 pts
Larsen & Toubro International FZE buys minor stake in OPRO.AI INC., a Delaware Corporation.
Price as on 09 Dec, 2022 12:43 PM, Click on company names for their live prices.
Lupin announces the launch of authorized generic version of PENNSAID (Diclofenac Sodium Topical Solution), 2% w/w of Horizon Pharma Therapeutics.
Price as on 09 Dec, 2022 12:42 PM, Click on company names for their live prices.
Nov SIP inflow at all-time high; SIP inflow at Rs 13,307 cr Vs Rs 13,040 cr MoM
#BREAKING | Nov SIP inflow at all-time high; SIP inflow at Rs 13,307 cr Vs Rs 13,040 cr MoM #AMFI #AMFIData… https://t.co/PdHj51WPwT
— ET NOW (@ETNOWlive) 1670568953000
Nov AMFI Data: Net inflow at Rs 13,264 cr Vs inflow of Rs 14,047 cr MoM
#BREAKING | Nov AMFI Data: Net inflow at Rs 13,264 cr Vs inflow of Rs 14,047 cr MoM #AMFI #AMFIData #NovAMFIData https://t.co/Xo0QXRgCGm
— ET NOW (@ETNOWlive) 1670569086000
Top gainers & losers from the Nifty Realty pack
Price as on 09 Dec, 2022 12:07 PM, Click on company names for their live prices.
Nifty IT & Nifty Realty under pressure
Automobile retail sales soar to record high in Nov: FADA – Agencies
Automobile retail sales in India clocked best-ever performance last month aided by robust registrations across segments including passenger vehicles, two-wheelers and commercial vehicles, automobile dealer’ body FADA said on Friday. The overall automobile retail sales rose by 26 per cent to 23,80,465 units last month, as compared with 18,93,647 units in November 2021.
KPI Green announces commissioning of 38.76 MW Solar Power Projects through wholly owned subsidiaries
Price as on 09 Dec, 2022 11:42 AM, Click on company names for their live prices.
Yes Bank announced the proposed investment by CA Basque Investments and Verventa Holdings in the equity shares of face value Rs. 2 each and share warrants of Yes Bank . Reserve Bank of India issued a conditional approval to each Investor with respect to the proposed acquisition.
Price as on 09 Dec, 2022 11:35 AM, Click on company names for their live prices.
EoI for Concor divestment likely in Jan, govt sources tell: ET Now
#ETNOWExclusive | EoI for Concor divestment likely in Jan, govt sources tell @Meghnamittal23 @concor_india… https://t.co/2jZv9B9GLD
— ET NOW (@ETNOWlive) 1670564836000
BEML share allocation post demerger of assets has been completed, govt sources tell: ET Now
#ETNOWExclusive | BEML share allocation post demerger of assets has been completed, govt sources tell… https://t.co/ZC7CR2R6hs
— ET NOW (@ETNOWlive) 1670564937000
Snapdeal to shelve $152 million IPO amid tech stocks rout
Snapdeal filed its initial public offering (IPO) regulatory papers for approval in December 2021, a year that saw many stock market debuts and record fund raising by Indian startups. But many are delaying IPOs amid a stock market rout that has raised concerns over frothy tech valuations.
Snapdeal, which competes with larger rivals Amazon and Walmart’s Flipkart in India’s booming e-commerce space, filed a request this week with the country’s market regulator SEBI to withdraw its IPO prospectus, said one source with direct knowledge of the matter.
Shares of HCL Technologies fell as much as 6% on Friday, in their sharpest intraday drop since mid-May, after the IT services firm said it expects revenue for the full year to be at the lower end of its guidance.
Price as on 09 Dec, 2022 11:03 AM, Click on company names for their live prices.
Sensex turns red, drops over 200 pts
Alembic Pharmaceuticals receives USFDA final approval for Desonide Cream
Price as on 09 Dec, 2022 10:58 AM, Click on company names for their live prices.
Crypto Price Today: Bitcoin regains $17K; Ethereum & Polygon rise up to 4%
Metropolis Healthcare appoints Surendran Chemmenkotil as CEO of the company.
Price as on 09 Dec, 2022 10:20 AM, Click on company names for their live prices.
Rupee gains 19 paise to 82.19 against US dollar in early trade
At the interbank foreign exchange, the domestic unit opened at 82.30 against the dollar, then gained further ground to touch 82.19, registering a rise of 19 paise over its previous close.
On Thursday, the rupee settled 9 paise higher at 82.38 against the US dollar.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.23 per cent to 104.53.
Stocks in focus: Yes Bank
#StocksInFocus | Yes Bank: Biggest single day gain since Aug 2, 2022 Volume at over 2.5x 20-day average trading vo… https://t.co/IFtoTnOwsO
— ET NOW (@ETNOWlive) 1670559364000
TVS Motor through its wholly owned subsidiary i.e. TVS Motor (Singapore) has signed an agreement to acquire EV-related technology and assets in Germany. TVS Singapore will be acquiring the assets through its subsidiary BBT 35/22 Vermögensverwaltungs GmbH .
Price as on 09 Dec, 2022 09:47 AM, Click on company names for their live prices.
Bond yields may rise ahead of weekly debt supply
The benchmark 10-year yield was likely to move in a 7.26%-7.31% band until the auction later in the day, a trader with a private bank said.
The yield ended higher for a fifth straight session to close at 7.2890% on Thursday.
This is the first auction since the central bank’s monetary policy decision earlier this week and will provide clarity on investors’ appetite at prevailing levels, the trader said.
New Delhi aims to raise 280 billion rupees ($3.40 billion) through the sale of bonds, including 120 billion rupees worth of the benchmark paper.
Top gainers and losers in morning trade
Price as on 09 Dec, 2022 09:30 AM, Click on company names for their live prices.
Paytm rallies 5% after companies consider a proposal for buyback of its equity shares.
Price as on 09 Dec, 2022 09:22 AM, Click on company names for their live prices.
Opening Bell: Sensex jumps over 100 pts; Nifty tests 18,650; Paytm surges 5%, HCL Tech tanks 4%
Market pre-open
Sensex, Nifty marginally higher
Asian shares higher as dollar retreats, risk events abound
Asian shares tracked Wall Street higher amid hopes that China’s economy would pick up pace as COVID-19 curbs ease, although caution ahead of a week full of risk events, including the Federal Reserve’s policy meeting, could cap sentiment. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.9% in early trade, edging closer to a three-month high hit earlier in the week. For the week, it was also set to rise 0.9%.
Oil bounces near Dec 2021 lows after Keystone pipeline shutdown
Oil prices bounced on Friday as closure of a major Canada-to-U.S. crude pipeline disrupted supplies, but prices remained near December 2021 lows on concerns over slowing global demand growth. Brent crude futures were at $76.74 a barrel, up 59 cents, or 0.8%, at 0115 GMT after dropping 1.3% on Thursday.
SGX Nifty signals a positive start
Nifty futures on the Singapore Exchange traded 48 points, or 0.26 per cent, higher at 18,775.50, signaling that Dalal Street was headed for a positive start on Friday.
Tech View: Nifty forms small positive candle
Headline index Nifty today formed a small positive candle on the daily chart at the support of 18,550-18,500 levels but remained range-bound amid F&O weekly expiry. Analysts said positive chart patterns like higher tops and bottoms continued on the daily chart and the overall chart pattern signal positive bias for the short term.
Tokyo stocks open higher after US bounce
Tokyo stocks opened higher on Friday as investors took heart from Wall Street rallies that shrugged off recent market weakness. The benchmark Nikkei 225 index was up 0.47 percent, or 130.77 points, at 27,705.20 in early trade, while the broader Topix index was up 0.55 percent, or 10.66 points, at 1,952.16.
S&P 500, Nasdaq snap losing streaks after jobless claims rise
The S&P 500 ended higher on Thursday, snapping a five-session losing streak, as investors interpreted data showing a rise in weekly jobless claims as a sign the pace of interest rate hikes could soon slow.
Rupee rises 9 paise to 82.38 against US dollar
The rupee consolidated in a narrow range and settled 9 paise higher at 82.38 against the US dollar on Thursday, supported by positive domestic equities.
Sensex, Nifty on Thursday
The BSE Sensex ended 0.3% higher at 62,571 points and Nifty 50 closed 0.3% higher at 18,609 points. Bank Nifty outperformed in trade, rising 1.2% and scaling a record high of 43,641 points.
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