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. Immediate resistance is seen at 18,650 levels, said Nagaraj Shetti, Technical Research Analyst, HDFC NSE 0.19 % Securities.
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Tech View: Nifty forms a small positive candle. What traders should do on Friday
Immediate resistance is seen at 18,650 levels, said Nagaraj Shetti, Technical Research Analyst, HDFC NSE 0.19 % Securities.
Nifty witnessed a lacklustre trading session as the index failed to give any directional move. For any meaningful directional move Nifty needs to go below 18,500 decisively or above 18,700 on a sustain basis. Support below 18,500, is pegged at 18,350/18,200. On the other hand, above 18,700, resistance is visible at 18,900.
– Rupak De, Senior Technical Analyst at LKP Securities
Hindustan Unilever (HUL) has announced that it will acquire 100% of the shareholding of Zywie Ventures Private Ltd. in deal worth Rs 264.28 crore.
“PSU Banks fired up markets for the fourth consecutive day this week as the PSU Bank Index rose 4% today as positive tailwinds coupled with under ownership stepped up momentum in several stocks. With Indices at record highs, investors were seen actively accumulating several state owned banks with vast reach and trust available at reasonable valuations.”
– S Ranganathan, Head of Research at LKP securities
“After touching a record high, the domestic market experienced significant volatility as global markets tumbled due to fear of an economic slowdown and worries over a Fed rate hike. Recession fears weighed on IT and pharma stocks while banks, especially PSBs, continued to support the bourses. This volatility is expected to sustain in the global market as we await the Fed policy decision and US inflation numbers due next week.”
– Vinod Nair, Head of Research at Geojit Financial
Heatmap: More than half of stocks close in the red
Closing Bell: Sensex snaps 4-day losing streak; gains 160 points; Nifty tops 18,600; BoI rallies 9%, BoB 6%
Ashok Leyland has appointed Shenu Agarwal as the Managing Director and Chief Executive Officer of the company for a period of five years.
Price as on 08 Dec, 2022 03:22 PM, Click on company names for their live prices.
Active stocks in the closing trade
Price as on 08 Dec, 2022 03:22 PM, Click on company names for their live prices.
Oil rebounds from 2022 lows on China demand hopes, tanker delays
Oil rebounded on Thursday after four sessions of decline, boosted by hopes that easing anti-COVID measures in China will revive demand and by signs that some tankers carrying Russian oil have been delayed after a G7 price cap came into effect.China on Wednesday announced the most sweeping changes to its resolute anti-COVID regime since the pandemic began, while at least 20 oil tankers faced delays in crossing to the Mediterranean from Russia’s Black Sea ports.Brent crude rose 29 cents, or 0.4%, to $77.46 a barrel by 0905 GMT, while U.S. West Texas Intermediate (WTI) crude gained 73 cents, or 1%, to $72.74.
Jindal Steel and Power (JSP) Limited has acquired debt-laden Monnet Power for Rs 410 crore through insolvency route: Agencies
Price as on 08 Dec, 2022 02:53 PM, Click on company names for their live prices.
Nifty Bank hits fresh record high at 43,598; here are the top gainers
Nifty Bank hits fresh record high!
#MarketsWithETNOW | Nifty Bank hits fresh record high #NiftyBank #StockMarket #StocksToWatch https://t.co/jRsAt1EWAE
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European shares fall as telecom, utilities drag amid recession worries
European shares fell on Thursday, with utilities and telecom firms leading declines amid growing fears of an impending recession.The region-wide STOXX 600 was down 0.1% at 0815 a.m. GMT.The index dropped for a fourth straight session on Wednesday on rising concerns over a slowdown in economic growth ahead of a slew of interest rate decisions from major central banks next week.Among STOXX 600 sectors, telecom and utilities fell about 0.6% and 0.5%, respectively, in early trading.
Trent has signed a definitive agreement with Tata Industries, Tata Unistore (‘TUL’) and Tata Digital Private(‘TDPL’) dated December 8, 2022 to divest its stake of approximately 3.22% (on a fully diluted basis) held in TUL to TDPL.
Price as on 08 Dec, 2022 02:06 PM, Click on company names for their live prices.
FPIs bet on financial services sector; injects Rs 14,205 cr in Nov
The Indian financial services space seems to be in a sweet spot as foreign investors have made a net investment of Rs 14,205 crore (USD 2.1 billion) in the sector in November amid strong credit growth and manageable non-performing loan portfolio. The investment comes following a net withdrawal of Rs 4,686 crore from financial services stocks in October on account of profit booking.Overall, foreign portfolio investors (FPIs) have made a net investment of Rs 36,238 crore in the country’s equity markets in November. Of this, the financial services sector attracted Rs 14,205 crore, which accounts 39 per cent of total investment made by FPIs in equities, data with National Securities Depository Limited (NSDL) showed.Most of the buying was concentrated in the first half of the month of November 2022.
IPO of Landmark Cars will kick-off for subscription next week on Tuesday, December 13 and the company will sell its shares in the range of Rs 481-506 apiece.
Kalyan Jewellers aims to open 52 showrooms in 2023
Price as on 08 Dec, 2022 01:31 PM, Click on company names for their live prices.
Japan’s Nikkei ends at near 1-month low amid economic worries
apan’s Nikkei index closed at near one-month low Thursday, weighed down by Wall Street’s weak finish on economic concerns as well as corporate earnings.The Nikkei share average fell 0.4% to close at 27,574.43, its lowest close since Nov. 10.The broader Topix slipped 0.35% to 1,941.50.The S&P 500 and Nasdaq closed lower overnight after a choppy session on Wall Street, as investors struggled to grasp a clear direction as they weighed how the Federal Reserve’s monetary policy tightening might feed through into corporate America.
Japanese stocks see biggest weekly foreign outflow in two months
Foreign investors sold Japanese stocks in the week ended Dec. 2, as sharp gains in the yen raised concerns about a hit to auto and other exporters’ earnings, with investors also worried about weak domestic economic data.In their biggest weekly net selling since Sept. 30, foreigners offloaded a net 781.55 billion yen ($5.71 billion) worth of Japanese equities, compared with net purchases of 987 billion yen in the previous week, data from exchanges showed.Overseas investors exited derivatives worth a net 804.22 billion yen but purchased cash equities of 22.67 billion yen. According to the data, they have been net sellers of about 3.14 trillion yen worth of Japanese stocks so far this year.
Active stocks at noon
Price as on 08 Dec, 2022 12:35 PM, Click on company names for their live prices.
Gold inches lower as dollar ticks up
Gold prices eased on Thursday as the dollar recovered slightly, while market participants await further direction on U.S. rate hikes from the Federal Reserve meeting next week.Spot gold fell 0.2% to $1,783.50 per ounce, as of 0248 GMT, after rising more than 1% on Wednesday supported by a pullback in the dollar and U.S. bond yields. U.S. gold futures were down 0.2% to $1,795.10.The dollar index was up 0.2%, making the greenback-priced metal more expensive for buyers holding other currencies.
Government aims to appoint a private sector professional as the first CEO of the Life Insurance Corporation of India (LIC) in an effort to modernise its largest insurer after a disappointing stock market debut: Agencies
Price as on 08 Dec, 2022 11:33 AM, Click on company names for their live prices.
Stocks in news: Venky’s (India)
#StocksInFocus | Venky's (India): Biggest single day gain since June 22, 2021 Volume at ~30x 20-day avg trading vo… https://t.co/nZE8JYleOj
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Stocks in news: L&T
#StocksInFocus | L&T: Hits fresh record high intraday Surpasses 3 lk cr Market Cap for the first time ever Trades… https://t.co/proCAprKMI
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Inox GFL Group raises -Rs.1500 crore, takes a significant step towards achieving zero net debt.
Price as on 08 Dec, 2022 11:20 AM, Click on company names for their live prices.
Crypto Price Today: Bitcoin breaches $17k; Solana, Litecoin, Dogecoin drop up to 4%
The US senator behind one of the more important pieces of bipartisan crypto legislation in the works said bitcoin is the only cryptocurrency that can be considered a commodity because ether is now a security thanks to September’s Ethereum Merge.
Oil rebounds after hitting 2022 lows, demand concerns cap gains: Agencies
Oil prices rebounded in Asian trade on Thursday after slumping to their lowest level this year in the previous session, though concerns of economic slowdowns weakening fuel demand continued to cap gains.Brent crude futures were up 70 cents or 0.9% at $77.87 per barrel by 0500 GMT, while U.S. West Texas Intermediate (WTI) crude futures gained 74 cents or 1.0% to $72.75 per barrel.Brent had settled on Wednesday below the year’s previous closing low touched on the first day of 2022, while U.S. West Texas Intermediate crude had fallen to a fresh yearly low.”It could be largely an attempt for prices to stabilise after the recent sharp sell-off, but an overall cautious environment could still be in place,” Jun Rong Yeap, market strategist at IG, told Reuters on Thursday.
Macrotech Developers’ promoters plan to raise Rs 3,500 cr via sale of shares to institutional investors
Price as on 08 Dec, 2022 10:40 AM, Click on company names for their live prices.
Sun Pharmaceuticals announced an update on Halol Facility that the USFDA has listed the facility under Import Alert. The Import Alert implies interalia, that all future shipments of products manufactured at this facility are subject to refusal of admission to the US market until the facility becomes compliant with cGMP standards.
Price as on 08 Dec, 2022 10:16 AM, Click on company names for their live prices.
Japan’s Nikkei hits near one-month low on economic worries
Japan’s Nikkei index on Thursday fell to its lowest in nearly one month, weighed down by Wall Street’s weak finish on economic concerns as well as corporate earnings.The Nikkei share average fell 0.74% to 27,480.49 by the midday break, after hitting 27,415.66 — its lowest since Nov. 10.The broader Topix slipped 0.65% to 1,935.61.The S&P 500 and Nasdaq closed lower overnight after a choppy session on Wall Street, as investors struggled to grasp a clear direction as they weighed how the Federal Reserve’s monetary policy tightening might feed through into corporate America.
Stocks in news: Dharmaj Crop Guard makes strong D-St debut, lists at 12% premium
Price as on 08 Dec, 2022 09:53 AM, Click on company names for their live prices.
EaseMyTrip to become the official travel partner for the First World Tennis League
Price as on 08 Dec, 2022 09:41 AM, Click on company names for their live prices.
JSW Steel’s Crude Steel production for November ’22 grew by 16% YoY
Price as on 08 Dec, 2022 09:37 AM, Click on company names for their live prices.
Rupee rises 13 paise to 82.34 against US dollar in early trade
Upswings appeared feeble, and the overall construct with 18,500 or 18,360-100 as potential downside targets intactas long as the 18,620/660 congestion region remains intact. We would however wait for a rise above 18,840 to play the 19,400 run, or watch if bulls regroup on first dipinto the 18,500/480 region.
– Anand James – Chief Market Strategist at Geojit Financial Services
Even while reaffirming that “the Indian economy is doing well in a world of slowing growth and inflation fears” RBI Governor Saktikanta Das indicated that “the global spillovers are slowing down India’s economic momentum”. In this context the sharp dip in Brent crude below $78 has come as a shot in the arm of the economy. This has the potential to act as a fiscal stimulus for the economy while the monetary policy is tightening. Next week will be significant for global equity markets since we will have the US inflation print and the FOMC meet. The market is likely to consolidate around the current levels till then. The PSU banking space, particularly the leading names, is likely to continue to remain resilient. Capital goods stocks are showing strength.
– Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
Price as on 08 Dec, 2022 09:24 AM, Click on company names for their live prices.
Triveni Engineering has 9.8% of equity change hands in four bunches
#MarketsWithETNOW | Triveni Engineering has 9.8% of equity change hands in four bunches #StockMarket… https://t.co/LzrGua5OQt
— ET NOW (@ETNOWlive) 1670471406000
Opening Bell: Sensex, Nifty start flat as assembly election trends pour in; BLS Intl, Lumax India surge 5% each, L&T up 1%
Rupee opens at 82.34 against US dollar
Market pre-open: Sensex, Nifty flat
Asian stocks mixed
Asian equities were mixed on Thursday as growing fears of an economic slowdown and worries over the pace of the Federal Reserve’s interest rate hikes weighed on sentiment.
Oil prices steady after hitting 2022 lows
Oil prices steadied in early Asian trade on Thursday after sinking to their lowest level this year as U.S. production and gasoline inventories ticked up at the same time concerns grew that economic slowdowns would weaken fuel demand.
SGX Nifty signals a muted start
Nifty futures on the Singapore Exchange traded 15 points, or 0.08 per cent, lower at 18,656.50, signaling that Dalal Street was headed for a muted start on Thursday.
Tech View: Nifty forms small red candle on charts.
Headline equity index Nifty on Wednesday formed a small bearish candle on the daily scale, which is broadly negative. The index has been making lower lows from the last four sessions and needs to negate to commence the fresh leg of the rally.
Tokyo shares open lower after US losses
Tokyo stocks opened lower on Thursday, tracking falls of tech shares on Wall Street, while a stronger yen weighed on the market. The benchmark Nikkei 225 index fell 0.23 percent, or 64.10 points, to 27,622.30 at the open, while the broader Topix index lost 0.28 percent, or 5.41 points, to 1,942.90.
S&P, Nasdaq extend losing streaks amid rising recession worries
The S&P 500 and Nasdaq closed down on Wednesday after a choppy session on Wall Street, as investors struggled to grasp a clear direction as they weighed how the Federal Reserve’s monetary policy tightening might feed through into corporate America.
Rupee gains 3 paise to 82.47 against US dollar
The rupee pared initial losses and settled marginally higher at 82.47 against the US dollar on Wednesday after the Reserve Bank of India (RBI) hiked the repo rate by 35 basis points.
Sensex, Nifty on Wednesday
Following RBI’s 35 basis point rate hike and hawkish stance to bring inflation down, Sensex ended 216 points lower while the Nifty ended below 18,600 mark. Global cues weren’t supportive of bulls either. Today’s was the third straight day of losses for the Nifty.