Share Market Highlights- Nifty, Sensex end flat, Bank Nifty closes up 210 pts; Reliance Industries leads loss

Share Market Highlights: Nifty, Sensex end flat, Bank Nifty closes up 210 pts; Reliance Industries leads loss

Share Market News Today | Sensex, Nifty, Share Prices Highlights: Indian benchmark index BSE Sensex closed the session mildly in the negative territory, while NSE Nifty closed marginally in the green after a volatile session of trade, as select heavyweights such as Reliance Industries, Infosys and Bharti Airtel dropped sharply. The BSE Sensex ended down 33 points at 62,834, and the NSE Nifty 50 closed 5 points higher, reclaiming the 18,700 level. The NSE Nifty MidCap 100 closed up 0.23%, while the Nifty SmallCap 100 index ended up 0.43%. The sectoral indices, meanwhile, were mixed. Nifty Metal and Nifty PSU Banks soared in trade, gaining over 1.2% intraday while Nifty IT and Nifty Auto were the biggest sectoral laggards.Live Updates 15:43 (IST) 5 Dec 2022 Most active stocks

Reliance Industries, HDFC Bank, ICICI Bank, Adani Enterprises and Tata Steel were among the most active Nifty 50 stocks intraday.

15:42 (IST) 5 Dec 2022 Biggest gainers, losers

Hindalco, Tata Steel, UPL, Coal India and ONGC were Nifty 50's top gainers, with Hindalco surging over 4.5% in trade. Apollo Hospitals, Reliance Industries, Tata Motors, TechM and Britannia were the day's biggest laggards, with Apollo Hospitals losing almost 2%.

15:39 (IST) 5 Dec 2022 Domestic indices close flat

The BSE Sensex ended down 33 points at 62,834, and the NSE Nifty 50 closed 5 points higher, reclaiming the 18,700 level.

14:08 (IST) 5 Dec 2022 Promoter offloads IIFL Wealth Management shares worth Rs 94.5 crore

Promoter Nirmal Madhu Family Private Trust offloaded shares worth Rs 94.50 crore as it sold 5.25 lakh shares in v via open market transactions, at an average price of Rs 1,800.08 per share. IIFL Wealth Management stock was quoting at Rs 1,805.35, up Rs 7.15, or 0.40% on the BSE.

14:07 (IST) 5 Dec 2022 Dabur International CEO Krishan Kumar Chutani resigns

Krishan Kumar Chutani, Chief Executive Officer (CEO) of Dabur International Ltd (material subsidiary of Dabur India Limited) has tendered his resignation from the services of Dabur International on 5 December 2022, to pursue career outside Dabur.  He will continue in his current position till 28 February, 2023. Raghav Agrawal has joined Dabur International today and will take over from Chutani as CEO.

14:01 (IST) 5 Dec 2022 ICICI Bank shares outperform Nifty50, rally 22% so far in 2022; should you buy, hold or sell?

ICICI Bank shares have been trading around the record high level of Rs 958. The stock has rallied over 20 per cent so far this year, and the bullish momentum is expected to continue, according to analysts. Several brokerages are bullish on the large private lender and have strong ‘Buy’ recommendations for the stock. After ICICI Bank’s analyst day, which focussed on strategic initiatives & priorities and digitisation & network expansion along with SME, supply chain financing, ecosystem banking & retail as focus segments, international and domestic brokerages reiterated their bullish stance on the lender. ICICI Bank remains among the top picks of many as analysts believe that the lender is well-placed and will sustain its best-in-class profitability.

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13:35 (IST) 5 Dec 2022 Nifty unlikely to deliver positive returns in Jan-Mar quarter; check top bets | Unmesh Sharma Interview

Indian share markets are unlikely to deliver positive returns during the Jan-March’23 quarter. From November levels, Nifty may see up to 5% correction till June 2023, said Unmesh Sharma, Head of Institutional Equities, HDFC Securities in an interview with Harshita Tyagi of FinancialExpress.com. Indian markets are expensive but it is not so frothy that one can not consider putting money in right now. Sharma said. From now till June, the probability of an upside is far lower as compared to risk on the downside. “You can deal with this in two ways. Either you invest in a staggered manner or you reduce the risk in your portfolio by betting on growth at a reasonable price, value, and thematics,” he added.

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12:42 (IST) 5 Dec 2022 Paytm shares down 2%, JP Morgan maintains positive stance

JPMorgan reiterated 'Overweight' rating on Paytm with a target price Rs 1,100. The brokerage expects Paytm to see strong revenue growth across all its business segments. It sees revenues growing at a >44% CAGR over FY22-26, to USD 2.7 billion, and CMs rising to 48% by FY26. It also sees Paytm retaining the highest revenue and profit levels among local vertical and global horizontal peers.

12:17 (IST) 5 Dec 2022 Sectoral movement

Nifty Bank, Nifty Media, Mifty Metal, Nifty PSU Bank, Nifty Private Bank, Nifty Realty were trading in gree, while Nifty Auto, Nifty Financial Services, Nifty FMCG, Nifty IT and Nifty Pharma were in red.

11:25 (IST) 5 Dec 2022 Bank of India shares jump nearly 3%

Bank of India shares jumped nearly 3 per cent after the lender raised Rs 1,500 crore by allotting Basel-III compliant additional Tier-I bonds, to seven investors. The bonds issue opened on December 1 received good response from investors, getting bids worth Rs 6,367 crore against offer size of Rs 1,500 crore.

11:22 (IST) 5 Dec 2022 Kalyan Jewellers hits new high

Kalyan Jewellers shares hit new high in a weak market. The stocks has rallied 18% in 4 days. While the months of July and August were muted, mainly due to wedding delays in South India, analysts expect demand to bounce back in the October-December quarter (Q3FY23) given the festive and marriage season across India.

10:51 (IST) 5 Dec 2022 Gold hits five month high

Gold rate was positive on Monday as a result of positive global cues, while silver rate was up 1.13%. On Multi Commodity Exchange, gold February futures were trading at Rs 54,209 per 10 grams, up Rs 359 or 0.67%. Silver March futures were trading Rs 749 up at Rs 67,198 per kg on MCX. Globally, the yellow metal hit a five-month high on Monday as the dollar softened due to weakening COVID restrictions and easing lockdowns in China, according to Reuters. Spot gold was up 0.5% at $1,807.21 per ounce after climbing to its highest level since July 5 at $1,808.20 earlier in the session. US gold futures gained 0.6% to $1,819.60.

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10:34 (IST) 5 Dec 2022 Crude prices recover

“After witnessing a prolonged weakness, crude prices managed to conclude the previous week on a higher note, snapping the negative streak. Crude prices had slipped to 16-week lows versus a basket of currencies as data showed US consumer spending rose significantly in October. The week ending November 25 saw a nearly 13-million-barrel decline in US crude oil stockpiles, the largest decline since 2019. Declining US crude inventories helped boost gains, but the upside was restrained as concerns that OPEC+ would stick with its existing output strategy at its upcoming meeting.”

– Prathamesh Mallya, AVP – Research, Non-Agri Commodities and Currencies, Angel One

10:22 (IST) 5 Dec 2022 Motilal Oswal maintains ‘Buy’ rating on M&M Financial Services

Motilal Oswal maintains 'Buy' rating on Mahindra & Mahindra Financial Services. “Expect the company to deliver an RoE in the range of ~11% over the medium term. Management estimated Stage 2 assets to be below 9% as of Nov’22, (declined v/s Oct’22), while Stage 3 was stable MoM at lower than 7%. Management expects the GNPA (according to IRAC norms) to be higher than Stage 3 assets by ~INR12b as of Nov’22.”

09:51 (IST) 5 Dec 2022 Rainbow Children’s Medicare falls 2% as 15% equity changes hands

1.5 crore shares (14.8% equity) worth Rs 1,119 crore change hands at Rs 742 per share. Rainbow Childrens Medicare was quoting at Rs 748.15, down Rs 16.15, or 2.11% on the BSE.

09:49 (IST) 5 Dec 2022 M&M Financial Services share rise

M&M Financial Services shares rise 1% as disbursements grew 75% on-year in November. Last month, the business continued its momentum with disbursement of approximately Rs 4,500 crores delivering a 75% on-year growth. The YTD disbursement at approximately Rs 31,050 crores registered an on-year growth of 99%. Healthy disbursement trends have led to a strong gross asset book of approximately Rs. 76,300 crores, growing ~3.4% over September 2022. This has resulted in growth of ~17.5% vs March 2022. The collection efficiency (CE) was at 96% for November 2022, against CE of 94% for November 2021.

09:33 (IST) 5 Dec 2022 Nifty close below 18700 to trigger a sell-off; outright collapse unlikely

Nifty on the other may be assumed to have topped out at 18900, if it is unable to close back above 18700, or on direct fall below 18600 on Monday. While an outright collapse is less expected, inability to close back above 18700 on Monday will delay the achievement of 19400 next week, and we could instead be looking at 18380.

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09:28 (IST) 5 Dec 2022 Gold at 5-month high

Gold prices rose to a five-month high on Monday, as the U.S. dollar weakened slightly after more Chinese cities relaxed COVID-19 restrictions over the weekend.

Spot gold was up 0.5% at $1,807.21 per ounce, as of 0233 GMT, after climbing to its highest level since July 5 at $1,808.20 earlier in the session. U.S. gold futures gained 0.6% to $1,819.60. The dollar index was down 0.2%, hovering near five-month lows. A weaker dollar makes greenback-priced bullion cheaper for overseas buyers.

09:28 (IST) 5 Dec 2022 Nifty gainers, losers

Hindalco Industries, Tata Steel, JSW Steel, ONGC and UPL were among major gainers on the Nifty, while HDFC, HUL, Nestle India, SBI Life Insurance and M&M were the losers.

09:19 (IST) 5 Dec 2022 Nifty, Sensex open in red

Indian benchmark indices gave up pre-open gains to open mildly in red. While Sensex was down around 150 pts at around 62700 level, Nifty was trading below 18700.

09:13 (IST) 5 Dec 2022 Nifty trend may become bearish if index fall below 18600

“Though Nifty recovered well in the closing hour retaining hopes of maintaining an upside trajectory, the penetration of our downside marker of 18,715 has sounded a warning. Inability to close above 18,715 today or an outright fall below 18,600 will confirm bearish suspicions even before 18,470 is seen, but until then expect attempts to push higher.”-Anand James – Chief Market Strategist at Geojit Financial Services

09:11 (IST) 5 Dec 2022 Mid and small cap rally likely to gather momentum

“The better-than-expected US job numbers in November were surprisingly ignored by the market with the S&P 500 ending flat. This message from the market indicates that the Fed is unlikely to reverse its well telegraphed slower pace of tightening. The market doesn’t see the terminal rate going above 5%. In India there are signals that this is a market trending higher, in spite of the high valuations. The upcoming MPC decision and more importantly the RBI’s message will be keenly awaited by the market. The mid and small cap rally is likely to gather momentum.”-VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services

09:07 (IST) 5 Dec 2022 Derivative View

Nifty weekly contract has highest open interest at 19,000 for Calls and 18,700 for Puts while monthly contracts have highest open interest at 19,000 for Calls and 18,000 for Puts. Highest new OI addition was seen at 18,700 for Calls and 18,700 for Puts in weekly and at 18,800 for Calls and 17,800 for Puts in monthly contracts. FIIs increased their future index long position holdings by -19.54%, increased future index shorts by 26.42% and in index options by 23.52% in Call longs, 15.22% in Call short, 75.91% in Put longs and 4.44% in Put shorts.

– Anand James, Chief Market Strategist, Geojit Financial Services

09:06 (IST) 5 Dec 2022 Indian benchmark indices trade in green in pre-open

Domestic benchmark indices were trading marginally higher in pre-open session. BSE Sensex was up around 30 pts at 62903, while NSE Nifty 50 was over 18700 level.

08:59 (IST) 5 Dec 2022 Investors eye MPC meet; midcap, small cap rally to gain momentum

“The better-than- expected US job numbers in November were surprisingly ignored by the market with the S&P 500 ending flat. This message from the market indicates that the Fed is unlikely to reverse its well telegraphed slower pace of tightening. The market doesn’t see the terminal rate going above 5%. In India there are signals that this is a market trending higher, in spite of the high valuations. The upcoming MPC decision and more importantly the RBI’s message will be keenly awaited by the market. The mid and small cap rally is likely to gather momentum.”

– Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

08:58 (IST) 5 Dec 2022 Positive bias to continue if Nifty above 18561

“Markets are expected to edge higher in early trades Monday following gains in Asian indices after key US gauges on Friday rose on the back of stronger than expected US jobs growth in November. Despite the positive momentum, traders may exercise caution ahead of the monetary policy week this week, as the market had already rallied sharply in little time while valuations also look a bit stretched. Technically speaking, the positive bias would continue as long as Nifty holds above its make-or-break support at 18561 mark”.

– Prashanth Tapse – Research Analyst, Senior VP (Research), Mehta Equities

08:54 (IST) 5 Dec 2022 Nifty to witness buying above 18900, Bank Nifty may head towards 43500; use this strategy for 8 Dec F&O expiry

The chart pattern suggests that if Nifty crosses and sustains above 18900 level, it would witness buying which would lead the index towards 19100-19300 levels. However, if the index breaks below 18500 level, it would witness selling which would take the index towards 18300-18100. For the week, we expect Nifty to trade in the range of 19300-18100 with positive bias. The weekly strength indicator RSI is above its respective reference lines indicating positive bias.

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08:31 (IST) 5 Dec 2022 Markets to take cues from RBI’s policy meeting

Indian benchmark indices are likely to open mildly in green as trends in the SGX Nifty hinted at a flat to positive start for the domestic share market. Nifty futures were trading 20 pts or 0.11% higher on the Singapore Exchange. In the previous session, BSE Sensex dropped below 63,000 to close 416 pts lower, while NSE Nifty declined 116 points to 18,696. “Markets will take cues from RBI’s policy meeting, and we expect them to tone down their stance given positive macro data and dovish commentary from Jerome Powell. Also, investors would keenly watch for the outcome of the Gujarat state election. Result in favour of BJP would add to continued momentum as it would mean stability and set the stage for the 2024 election,” said Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services.

7 things to know before share market opening bell

08:30 (IST) 5 Dec 2022 Oil rises

Oil prices edged higher in early trade after OPEC+ nations reaffirmed their oil output targets ahead of a European Union ban and price caps on Russian crude, which kick off on Monday. Brent crude futures climbed 39 cents, or 0.5%, to $85.96 a barrel at 2309 GMT, while US West Texas Intermediate (WTI) crude futures rose 37 cents, or 0.5%, to $80.35 a barrel.

08:29 (IST) 5 Dec 2022 Stocks to buy this week

Markets might consolidate in a range after index surged to record high and cautiousness among investors ahead of a series of events. Moreover, US Fed to announce its credit policy on 14th December and traders are likely to be on watch mode till the US Fed’s interest rate outcome and its commentary on future direction. US Fed chairman’s dovish speech has led investors to already discount 50bps rate hike in its next policy meeting. Check stocks to buy for gains this week.

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08:24 (IST) 5 Dec 2022 Oil rises

Oil prices edged higher in early trade after OPEC+ nations reaffirmed their oil output targets ahead of a European Union ban and price caps on Russian crude, which kick off on Monday. Brent crude futures climbed 39 cents, or 0.5%, to $85.96 a barrel at 2309 GMT, while US West Texas Intermediate (WTI) crude futures rose 37 cents, or 0.5%, to $80.35 a barrel.

08:14 (IST) 5 Dec 2022 FPIs were buyers in November, no sectoral consistency

FPIs turned strong buyers in November consistently buying financials, IT, autos, FMCG, capital goods and telecom. They were sellers in financials in October, but were buyers in November. There is no consistency in their sectoral selling strategy. In the short run the most important factor determining FPI strategy is the movement in the dollar index. When the dollar index moves up and is expected to trend up, they sell. Conversely when the dollar index declines and is expected to trend down, they buy. Going forward, India will get its fair share of FPI money. But the high valuation in India will be a deterrent.

– Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services

08:11 (IST) 5 Dec 2022 Stocks on F&O ban list on NSE

The National Stock Exchange has kept Punjab National Bank, Delta Corp and Indiabulls Housing Finance on its F&O ban list for 5 December. Securities thus banned include companies where derivative contracts have crossed 95% of the market-wide position limit.

07:58 (IST) 5 Dec 2022 FII and DII data

Foreign institutional investors (FIIs) net bought shares worth Rs 214.76 crore, while domestic institutional investors (DIIs) net purchased shares worth Rs 712.34 crore on 2 December 2, provisional NSE data shows.

07:52 (IST) 5 Dec 2022 Nifty to hold 18,300 during consolidation phase

This week, all eyes will be on the outcome of the MPC meet scheduled on December 7. Besides, the performance of global indices and foreign flow trends will continue to provide cues in between. Markets may witness some consolidation early this week. However, the tone would remain positive and our immediate target of 19000 is intact in Nifty. We expect Nifty to hold 18,300 during the consolidation phase. Since all the sectors are contributing to the move on a rotational basis, the focus should be on accumulating quality stocks on dips. The recent improvement in the broader market participation is certainly encouraging but participants should remain selective.”-Ajit Mishra, VP – Technical Research, Religare Broking

07:50 (IST) 5 Dec 2022 Global news flow to continue dictating market trend going ahead

“As the market was in an overbought zone after the recent upsurge, correction on Froday was due for some time and hence investors booked profit in a trading session marked by weak Asian and European cues. The recent GDP numbers and GST collections came in line with expectations, but global news flow will continue to dictate the market trend going ahead. The two immediate triggers – RBI's credit policy next week and the US Fed meeting in mid-December on the rate front would determine the investors' mood in the near term.” –Amol Athawale, Deputy Vice President – Technical Research, Kotak Securities

07:46 (IST) 5 Dec 2022 RBI MPC outcome eyed for cues on longetivity, sharpness of rate hikes

“Global stocks were cautious on Friday, after recent sharp gains as traders awaited the monthly US jobs report that came in rosier than expected bringing back fears of US Fed remaining hawkish for longer. Over the week, Nifty gained 0.99%. Nifty could face resistance in the 18758-18888 band while 18462-18529 band could offer support in the near term. RBI MPC policy outcome on Dec 07 will be watched closely for further cues on longetivity and sharpness of rate hikes in India.” -Deepak Jasani, Head of Retail Research, HDFC Securities

07:42 (IST) 5 Dec 2022 Asian markets largely positive

Shares in the Asia-Pacific rose on Monday as China relaxed virus testing rules in some cities, signaling more easing may come in the nation, which has been under strict Covid-related restrictions for more than two years. Hong Kong’s Hang Seng index rose 3.4% in early trade, leading gains in the region, with the Hang Seng Tech index rising 5.94%. In mainland China, the Shanghai Composite added 1.03% and the Shenzhen Component gained 0.72%. The Nikkei 225 in Japan gained 0.11% and the S&P/ASX 200 in Australia rose 0.6%. South Korea’s Kospi rose 0.3%. The MSCI’s broadest index of Asia-Pacific shares outside Japan rose 1.67%.

07:41 (IST) 5 Dec 2022 US Stocks end flat

The S&P 500 closed slightly lower on Friday, although major indexes rallied off their worst levels of the day, as the November payrolls report fueled expectations the Federal Reserve would maintain its path of interest rate hikes to combat inflation. The Dow Jones Industrial Average rose 34.87 points, or 0.1%, to 34,429.88, the S&P 500 lost 4.87 points, or 0.12%, to 4,071.7 and the Nasdaq Composite dropped 20.95 points, or 0.18%, to 11,461.50.

07:41 (IST) 5 Dec 2022 SGX Nifty in green

SGX Nifty hinted at a flat to positive start for the domestic share market. Nifty futures were trading 20 pts or 0.11% higher on the Singapore Exchange.