Share Market Highlights- Nifty ends above 18400, Sensex gains 460 pts, Bank Nifty up 0

Share Market Highlights: Nifty ends above 18400, Sensex gains 460 pts, Bank Nifty up 0.45%; M&M top winner

Share Market News Today | Sensex, Nifty, Share Prices Highlights: Indian domestic indices NSE Nifty and BSE Sensex close higher as bulls stage a comeback, snapping a two-day losing streak. Although the markets opened flat, Nifty gained over 150 points to settle above 18,400 at 18,420. Sensex closed up by 0.76%, at 61,806. The broader markets shifted from red to green intraday, with Nifty Junior or Nifty Next 50 rising almost 1%. Nifty Auto was the biggest sectoral gainer, adding 1.59% in gains today. KFin Technologies’ IPO opened for subscription today, with a price band of Rs 347-366 a share and was subscribed 0.49 times.Live Updates 16:35 (IST) 19 Dec 2022 Singer India’s preferential issue

The Board of Directors of Singer India Ltd (SIL) at its meeting held on 17 December approved the preferential allotment issue of 7.48 million equity shares of face value INR 2/- each aggregating to Rs 568.28 million to various investors at a price of Rs 76/- per equity share. The Preferential Issue is subject to various approvals including from the Company’s shareholders.

16:34 (IST) 19 Dec 2022 Biggest hurdle for Nifty at 18,888

“An unexpected bullish day seen at Dalal Street where short covering r value buying ruled the roost. Barring IT, all the other sectoral indices ended in green, with maximum gains seen in Auto & FMCG Indices. All eyes will be on RBI MPC meeting minutes to trickle on Wednesday, 21st December. The street will look for clues with regards to the inflation scenario and RBI's plan of action in the months to come. Technically, the biggest hurdle for the Nifty is seen only in 18,888.”

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

15:54 (IST) 19 Dec 2022 Expect upward momentum to continue

“The December month so far has been a bit quiet for our markets. Broadly speaking, market is undergoing some time-correction after a strong up move in last 3 odd months. In our sense, 18000-17800 needs to be considered a sacrosanct support and soon, we expect the upward momentum to resume. The way Midcap index is placed, we are likely to see some flamboyant moves in the broader end of the spectrum to conclude 2022 on a high note.”

– Sameet Chavan, Chief Analyst-Technical and Derivatives, Angel One

15:53 (IST) 19 Dec 2022 Rupee at close

“The Indian rupee appreciated along with most regional currencies following the unwinding of the dollar. The dollar index, a basket of six currencies, also fell half a percentage point after last week’s rebound. Looking across asset markets the investor mood seems to be calm ahead of the Christmas holiday. Forex market volatility remains subdued while the risk-assets recovers after the previous week’s sell-off. Back home, spot USDINR is expected to consolidate in the range of 82.40 to 83. The bullish trend will get negated only below 82.10 while the crossing of 83.25 leads to panic buying.”

– Dilip Parmar, Research Analyst, HDFC Securities

15:50 (IST) 19 Dec 2022 Nifty top gainers, losers

Adani Ports, Adani Enterprises, M&M, Eicher Motors and Power Grid were the top gainers on the Nifty 50 index today with Adani Ports gaining 4.05%. TCS, ONGC, Tata Motors, Infosys and Sun Pharma were the day's top losers.

15:42 (IST) 19 Dec 2022 Markets at close

Although the markets opened flat, Nifty gained over 150 points to settle above 18,400 at 18,420. Sensex closed up by 0.76%, at 61,806.

15:15 (IST) 19 Dec 2022 Bank Nifty gains

The NSE Bank Nifty index rises by 188 points or 0.44% in trade, crossing the 43,400 mark.

15:07 (IST) 19 Dec 2022 Nifty, Sensex gain intraday

After starting flat in trade, NSE Nifty and BSE Sensex recouped their losses to trade in the green. Nifty is trading 18,411, up by 0.7% while Sensex added 430 points to trade at 61,768.

14:31 (IST) 19 Dec 2022 Sugar stocks rally

As the reports surface that the government may raise the export quota for sugar, sugar stocks rallied for the second consecutive session. Bajaj Hindusthan Sugar, Shree Renuka Sugars, Balrampur Chini Mills, Dalmia Bharat Sugar and Dhampur Sugar Mills are all gaining on the back of the update.

Read full story.

12:36 (IST) 19 Dec 2022 Nifty top gainers, losers

Eicher Motors, M&M, Adani Ports, Dr Reddy's and Bharti Airtel are Nifty 50's top gainers, while Tata Motors, Infosys, BPCL, TCS and Wipro are the index's top losers.

12:10 (IST) 19 Dec 2022 Trade deficit to remain elevated

“Trade deficit narrowed to USD 23.9bn as imports moderate. Exports reported an optical growth of 0.6% led by a favourable base effect. Exports of engineering goods fell five months in a row, but the pace of fall moderated further. Exports of electronic goods continued to be robust, reporting a 3yr CAGR of 26%. Crude oil imports fell (1%) on a sequential basis. Services balance is at its highest at USD 12.8bn. We expect trade deficit to remain elevated (USD 25bn / month in absence of fiscal interventions.”

– JM Financial

10:26 (IST) 19 Dec 2022 Nifty support, resistance

“Nifty opened gap down on Friday and closed on a negative note at 18269 levels. For the day, support for the Nifty exists at 18200 and 18100 levels, whereas resistance for the Nifty stands at 18450 and 18600 levels.”

– ACM Group

10:24 (IST) 19 Dec 2022 Derivative View

“Nifty weekly contract has highest open interest at 18,600 for Calls and 18,000 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 18,400 for Calls and 18,000 for Puts in weekly and at 18,300 for Calls and 18300 for Puts in monthly contracts. FIIs increased their future index long position holdings by -0.47%, increased future index shorts by -6.15% and in index options by 37.08% in Call longs, 19.92% in Call short, 48.34% in Put longs and 36.68% in Put shorts.”

– Anand James, Chief Market Strategist, Geojit Financial Services

10:04 (IST) 19 Dec 2022

“The benchmark index Nifty has now sneaked below the key swing low of 18350 on a closing basis. Ideally looking at the price structure, the development does not augur well for the bulls. A close below this support opens the possibility of extended correction in this week. We may be biased, but we are still not convinced with this close. Only a follow through selling may lead to further weakness towards 18130 – 18000 – 17900 in coming sessions. Even if this scenario pans out, we do not expect the correction to aggravate below the lower end of this support range. The higher degree up trend remains intact as long as we manage to hold this. Since market was deeply overbought, we must consider this as a running correction. On the flipside, 18450 – 18600 are to be treated as immediate hurdles.”

– Sameet Chavan, Chief Analyst-Technical and Derivatives, Angel One

09:37 (IST) 19 Dec 2022 Nifty IT falls 0.38%

Nifty IT index sinks in the morning, constituents Infosys, LTI Mindtree, Persistent Systems and Coforge are the index's top laggards.

09:26 (IST) 19 Dec 2022 Nifty outlook

“An inverted hammer formed on Friday, signals the prospects of a reversal today. We will play this by staying neutral to bearish if in the 18,270-195 region, but aim to add longs with push above 18,350, aiming 18,440 initially or 18,570-630. There is no visibility past the same as is. Alternatively, inability to clear 18,350 or 18,440 today would encourage us to revert to the 17,900 move.”

– Anand James, Chief Market Strategist, Geojit Financial Services

09:24 (IST) 19 Dec 2022 Nifty, Sensex start session flat

Indian domestic indices NSE Nifty and BSE Sensex open flat despite Nifty Futures trading 0.3% higher on the SGX. Nifty is trading 0.02% lower at 18,265, while Sensex gains 8 points to trade at 61,346.

09:14 (IST) 19 Dec 2022 IT may show fears, US inflation declining, credit growth strong

“The synchronised rate hikes by the leading central banks of the world and their hawkish tone impacted market sentiments last week with Nifty closing below the near-term support of 18400. While this risk-off can continue to impact the market, there are positive triggers too, like steadily declining inflation in the U.S. and the hope that the Fed will respond to this with a pause in rate hikes in early 2023. Leading indicators point to a resilient Indian economy. Credit growth continues to be strong and this can impart strength to the Bank Index. High quality bank stocks can be bought on declines. IT may show weakness on fears of a US recession but this weakness can be an opportunity for long-term investors. Capital goods segment is on a strong wicket.”

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

09:12 (IST) 19 Dec 2022 Sensex, Nifty close pre-open in green

Indian indices BSE Sensex and NSE Nifty closed the morning's pre-open session marginally higher, as Nifty ended 18,287 at while Sensex settled at 61,405 amid mixed global cues.

08:42 (IST) 19 Dec 2022 US dollar rising, could trigger FII selling as rupee weakens

Domestic equities may see a steady positive opening on Monday despite weakness seen in other Asian market peers. However, the markets may turn volatile intraday if weakness persists in Asian and European indices, as investors have been risk averse in the wake of the US Fed Chairman delivering a hawkish stance on interest rates last week. With the US Dollar once again beginning to ascend against major currencies, including the rupee, any further depreciation in the local currency could trigger further FII selling.

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

08:38 (IST) 19 Dec 2022 Bulls to pull Nifty above 18400 or profit-booking to continue?

“Markets are likely to remain in consolidative range due to lack of triggers in the near term. Also, lower participation from institutional investors due to upcoming year-end holidays would keep the markets lackluster. Though investors would keep eye on US home sales and GDP (QoQ) numbers to be released this week. On the sectoral front, sugar stocks are likely to remain in the limelight after news reported that government might consider increasing sugar export quota for the current 2022-23. However, some selling might be seen in banking stock especially in PSU banks on account of profit booking after the sharp rally in the last few months,” said Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services

7 things to know before market opening bell

08:36 (IST) 19 Dec 2022 Nifty forms bearish candle on daily scale, may slide to 18000 below 18350; buy these two stocks for gains

Technically, Nifty has formed a Bearish candle on daily scale with long upper shadow indicating pressure at higher zones. It formed a Bearish candle on weekly frame and negated its higher lows of the last two weeks. Now, till it holds below 18350, weakness could be seen towards 18081 and 18000 zones whereas hurdles are placed at 18350 and 18442 zones.

Read full story

08:24 (IST) 19 Dec 2022 Wall Street drops for third session

In the US, Wall Street stocks dropped for a third straight session and suffered a second straight week of losses on Friday. The Dow Jones Industrial Average fell 0.85%, the S&P 500 lost 1.11%, and the Nasdaq Composite dropped 0.97% in the previous session.

08:23 (IST) 19 Dec 2022 FIIs net sellers

Foreign institutional investors (FIIs) net-sold shares worth Rs 1,975.44 crore, while domestic institutional investors (DIIs) net-purchased shares worth Rs 1,542.50 crore on 16 December, according to the provisional data available on the NSE.

08:22 (IST) 19 Dec 2022 Stocks under F&O ban on NSE

The National Stock Exchange has Balrampur Chini Mills, IRCTC, Punjab National Bank, Indiabulls Housing Finance, BHEL, Delta Corp, and GNFC under its F&O ban list for 19 December. Securities thus banned under the F&O segment include companies where derivative contracts have crossed 95% of the market-wide position limit.