Share Market Highlights- Sensex closes up by 400 pts, Nifty reclaims 18600; Bank Nifty hit fresh high intraday

Share Market Highlights: Sensex closes up by 400 pts, Nifty reclaims 18600; Bank Nifty hit fresh high intraday

Share Market News Today | Sensex, Nifty, Share Prices Highlights: The domestic equity market ended in the green today after closing flat yesterday. BSE Sensex closed over 400 points higher at 62,533 while NSE Nifty settled 0.6% higher at 18,608. Bank Nifty hit a fresh record high intraday, gaining over 200 points to touch 43,983.80. The broader markets closed largely in the green, barring Nifty Next 50, which ended down 0.17%. Sectorally, the indices shifted between gains and losses, with Nifty PSU Bank soaring in trade, closing 3.81% higher. Landmarks Cars IPO opened for subscription and has been 0.12x subscribed so far. Traders also await US CPI and headline inflation data that will give them cues into the US Fed’s pace of rate hike increases.Live Updates 15:52 (IST) 13 Dec 2022 Nifty top gainers, losers

IndusInd Bank, Bajaj Finance, Infosys, HCL Tech and TCS were Nifty 50's top gainers, while Apollo Hospitals, UPL, Hindalco, Nestle India and BPCL were the day's laggards.

15:38 (IST) 13 Dec 2022 Nifty, Sensex end in green

The domestic equity market ended in the green today after closing flat yesterday. BSE Sensex closed over 400 points higher at 62,533 while NSE Nifty settled 0.6% higher at 18,608. Bank Nifty hit a fresh record high intraday, gaining over 200 points to touch 43,983.80.

14:59 (IST) 13 Dec 2022 US Fed to raise rate by 50 bps

“We expect the US Fed to increase the benchmark rate by 50bps this week. Any hike lower than 50bps will be taken as positive for risk assets like EM equities, including Indian equities. Even with a 50bps hike, if the Fed Chairman comments that future action of the Fed will be data dependent, then the market will take it positively. But, if he mentions that inflation remains a major risk and the labor market remains tight, with a possibility of a second round impact on inflation from the tight labor market, then the markets might react negatively.”

– Naveen Kulkarni, Chief Investment Officer, Axis Securities PMS

14:30 (IST) 13 Dec 2022 Nifty Realty drops

The Nifty Realty index is down 0.8%, with Macrotech Developers or Lodha 4.62% lower and Oberoi Realty falling 1.09%.

12:27 (IST) 13 Dec 2022 Bank Nifty up over 200 points, hits fresh high

As the Nifty PSU Bank index rallies intraday, Bank Nifty also gains over 200 points or 0.5% to hit a fresh record high intraday at 43,983.80.

11:09 (IST) 13 Dec 2022 Yes Bank shares extend rally

Shares of Yes Bank continued to rally for the third session, up almost 4% today and 23% over the last three sessions.

10:30 (IST) 13 Dec 2022 Nifty PSU Bank soars 1.36%

The Nifty PSU Index surges 1.36% in trade this morning, with constituents Punjab & Sind Bank, UCO Bank and Indian Bank leading the gains.

10:13 (IST) 13 Dec 2022 Broder market providing opportunities for bullish bets

“Sectorally, banking has certainly played its part in the last few sessions, and we expect it to continue in days to come. Apart from this, the broader market is now providing ample opportunities to place bullish bets. Traders should focus on such potential candidates in order to catch better moves.”

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

10:02 (IST) 13 Dec 2022 Nifty support at 18300

“It is crucial for Nifty to hold the sacrosanct support zone of 18400 – 18300. Yesterday’s smart recovery after testing the midpoint of this range has certainly proved the significance of this key demand zone. Now, yesterday’s low of 18345 should be considered as an important point and till the time, it remains unbroken, we would continue with our positive stance on the market. For the coming session, 18550 and 18650 are to be treated as immediate hurdles. The moment we overcome these barriers, we would see resumption of higher degree uptrend and then a path towards the next milestone of 19000 once again gets unfolded.”

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

10:01 (IST) 13 Dec 2022 Crude oil outlook

“WTI Crude oil witnessed a recovery of around 3% after a straight seven sessions of fall. In today’s early session crude is trading higher by around 0.70% near $73.80/bbl. Shutting down of a Canadian giant keystone pipeline is supporting crude oil prices as it is taking longer than expected to open. WTI Crude might trade between $72 to $76/ bbl for the day.”

– Ravindra Rao, CMT, EPAT VP-Head Commodity Research, Kotak Securities

09:47 (IST) 13 Dec 2022 FII DII data

Foreign institutional inventors (FII) sold shares worth a net Rs 138.81 crore while domestic institutional investors (DII) bought shares worth a net Rs 695.60 crore on Monday, December 12, 2022, according to the data available on NSE. For the month till December 12, FII sold shares worth a net Rs 5,795.95 crore while DII bought shares worth a net Rs 7,785.00 crore.

Read full article here

09:16 (IST) 13 Dec 2022 Sensex, Nifty start in green

The domestic equity market began trading in the green today, as BSE Sensex and NSE Nifty rise 0.2% after closing flat yesterday. Sensex is trading at 62,251, while Nifty is at 18,534.

09:05 (IST) 13 Dec 2022 Sensex, Nifty in green during pre-open

Benchmark indices NSE Nifty and BSE Sensex soar in the pre-open session as Sensex rises almost 500 points while Nifty reclaims the 18600 level.

08:56 (IST) 13 Dec 2022 MPC could refrain from further rate hikes

“The two macroeconomic data which came yesterday have significant implications for the market. The CPI inflation for November at 5.88 % is below the RBI’s upper tolerance limit. This is good news. But the bad news is that the Index of Industrial Production (IIP) shows a contraction of 4% in October. Taken together these two macro data suggest that the MPC is likely to refrain from further rate hikes. Even though this is a market, positive weakness in manufacturing suggests that it can impact corporate earnings, going forward. Since there is no room for further PE expansion, this will put a cap on the market rally. In the very near term, however, the market will be swayed  by the US inflation data due today and the Fed action tomorrow. US inflation is likely to trend down lifting market sentiments.”– V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services

08:47 (IST) 13 Dec 2022 Benchmarks flat ahead of US Fed outcome

“Benchmarks were almost unchanged ahead of the FOMC outcome to trickle in on Wednesday. The street is already fearing an 80% chance of a 50 bps rate hike by the Fed in its Dec 14th FOMC meeting. We suspect the sentiment to remain fragile and a range-bound session expected for Tuesday. Technically, Nifty’s make-or-break support is seen at 18345 mark, while the immediate hurdle is now seen at 18665 mark.”

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

08:46 (IST) 13 Dec 2022 Currency outlook

“USDINR spot closed 26 paise higher at 82.53 on spot on the back of uptick in the US Dollar Index ahead of US Fed meeting on Wednesday. Going into the Fed meeting, we could see USDINR be range bound between 82.25 and 82.80 on spot.”

– Anindya Banerjee, VP – Currency Derivatives & Interest Rate Derivatives, Kotak Securities

08:11 (IST) 13 Dec 2022 NSE F&O ban: GNFC, Delta Corp and others under ban on Tuesday, December 13

The National Stock Exchange (NSE) banned the trading in futures and options (F&O) of up to four stocks/securities on Tuesday, December 13, 2022. Bharat Heavy Electricals Limited (BHEL), Gujarat Narmada Valley Fertilizers & Chemicals Limited (GNFC), Delta Corp and Punjab National Bank (PNB) are the stocks/securities placed on the National Stock Exchange’s futures and options (F&O) ban for trade on Tuesday.

Read full article here

07:56 (IST) 13 Dec 2022 Landmark Cars IPO opens today

Landmark Cars IPO will open for public subscription today and will close on 15 December. Its anchor book was launched for a day on 12 December. The company, having dealerships for Mercedes-Benz, Honda, Jeep, Volkswagen, Renault and Ashok Leyland in India, plans to mobilise Rs 552 crore through the public offer of 1.09 crore shares. The IPO comprises fresh issue worth Rs 150 crore, and an offer-for-sale of Rs 402 crore by promoter and investors. The price band for the offer has been fixed at Rs 481-506 per share.

Read about other IPOs opening this week.

07:54 (IST) 13 Dec 2022 Asian markets in green

Taking cues from the US markets, Asian markets are lifted by the optimistic sentiment. MSCI is up 0.96%, while Japan’s Nikkei and Seoul’s KOSPI index were 0.32% and 0.01% higher respectively. Hong Kong’s Hang Seng is over 0.6% higher.

07:54 (IST) 13 Dec 2022 US Markets end on optimistic note

Wall Street demonstrated optimism overnight that the US Federal Reserve, ECB and other central banks would slow down the pace of rate hikes and take on a dovish tone, since traders expect US CPI inflation and headline inflation to drop. Dow Jones closed up by 1.58%, while S&P 500 ended 1.43% higher and Nasdaq settled 1.26% higher.