Sensex Today | Share Market Live Updates: Sensex, Nifty turn higher; IT, metal stocks lead gains; auto under pressure

Sensex Today Live: SRF commissions ₹317 crore fluorocarbon refrigerant gas capacity expansion project in Dahej

In July 2021, the company’s board had approved the project for expansion of fluorocarbon refrigerant gas capacity, with backward integration into a key raw material at Dahej.

Sensex Today Live: Japan issues tsunami warning after strong earthquake hits

Japan issued a tsunami warning for its almost all of its western coast after a powerful earthquake with a magnitude 7.6 hit off the Noto Peninsula about 300 km (190 miles) from Tokyo on Monday.

A tsunami of more than one meter hit the town of Wajima, public broadcaster NHK said. A further tsunami as large as 5 meters (16 feet) could hit Ishikawa prefecture, NHK said. Announcers urged people in the areas to flee to higher ground and away from the coast.

Sensex Today Live: JK Tyre raises ₹500 crore via QIP

JK Tyre & Industries Ltd, one of the leading tyre manufacturers in India has successfully concluded its fund-raising plans of ₹500 crore by way of qualified institutional placement (QIP). QIP was priced at ₹345 per share (including a premium of ₹343 per share with face value of ₹2 per share). QIP received overwhelming response from marquee investors including Indian mutual funds, insurance companies and foreign institutional investors.

Sensex Today Live: Maruti Suzuki December total sales at 1.37 lakh units versus 1.39 lakh units a year ago

View Full Image

Sensex Today Live: Natural gas price slashed to $7.82 per mmBtu for January

The Centre has lowered the price of domestic natural gas for January to $7.82 per million British thermal units (mmBtu) from $8.47 per mmBtu last month.

This marks the lowest domestic gas price since July 2023 and reflects a continued downward trend since August 2023.

The price revision would be applicable on gas produced from difficult fields, operated by private players. However, the price of gas from the nomination fields of state-run ONGC and Oil India remained unchanged at the capped price of $6.5 per mmBtu.

Sensex Today Live: Govt plans renewable-energy projects in closed coal mines

As the country undergoes an energy transition to meet its ambitious climate targets, the union coal ministry is looking to mechanise coal evacuation processes and use closed mines for alternative purposes such as solar parks and other energy projects, even as it increases coal production to meet the country’s growing demand for energy. Mechanising coal evacuation involves the use of conveyor belts for first-mile connectivity.

“About 90% of the mechanisation is expected to be done with a capital expenditure of around ₹30,000 crore, of which around ₹24,000 crore will be invested by Coal India,” said a person familiar with the developments. The remaining capex is expected to come from the private sector. (Read here)

Sensex Today Live: M&M December sales rise 6% on year

Mahindra & Mahindra Ltd. on Monday said that its December auto sales stood at 60,188 vehicles, an increase of 6% year-on-year.

Total tractor sales, including domestic and exports, during December were at 19,138 units, as against 23,243 units for the same period last year. Exports for the month stood at 1,110 units.

View Full Image

Sensex Today Live: North Korea’s Kim says military should ‘thoroughly annihilate’ US, South Korea if provoked: Agencies

North Korea’s Kim Jong Un has asked his military to “thoroughly annihilate” the US and South Korea. As per North Korean state media, Kim emphasized the need to enhance national defence capabilities due to what he perceives as an intense confrontation led by the US.

During a five-day meeting of the ruling party last week, the North Korean leader outlined plans to launch additional military spy satellites, increase nuclear material production, and develop attack drones within the year. Observers interpret these actions as a strategic move to strengthen negotiating power in future interactions with the US.

Sensex Today Live: Centre examining national e-commerce policy

The Prime Minister’s Office (PMO) is examining the national e-commerce policy to understand its potential impact on domestic retailers and small players, two people aware of the matter said. “The policy is in its final stage and will be released soon after the approval by the PMO,” said one of the people, adding the much-awaited policy will protect the interests of both consumers and industry.

The development is significant given the draft policy framed by the Union commerce ministry has recommended relaxations for companies that operate on e-marketplace business models such as Amazon, Flipkart and others.

Sensex Today Live: HFCL bags ₹1,127 crore order from BSNL

HFCL Ltd has received a ₹1,127 crore order from (BSNL to transform the optical transport network infrastructure across the telco’s network.

Sensex Today Live: HUL signals first steps to regain market share from small players

Hindustan Unilever Ltd (HUL), the largest fast-moving consumer goods (FMCG) manufacturer in the country, recently revised its distributor margins. The company has shifted from a fixed margin model of 3.9-3.3% to an increased variable margin in the range of 1-1.3% across various distributor categories. This shift is an attempt to stimulate volumes and reduce distribution costs. Will the distributors agree to work with this?

HUL recently acknowledged a decline in its value market share particularly in the mass-end of its portfolio that includes categories like detergents and tea, losing ground to smaller competitors. (Read more here)

Sensex Today Live: Alkem Laboratories sells US unit for $7.96 million

Alkem Laboratories has shut down the St. Louis manufacturing unit in the US, owned by its step-down subsidiary S&B Pharma LLC, the company said in stock exchange filing. All rights, title and interest in the said land, improvements and personal property with respect to the said facility were sold for $7.96 million to New Mill Capital Holdings LLC.

Sensex Today Live: Sensex, Nifty muted; fiancials, IT stocks weigh

At 11am, the Sensex was down 46.40 points at 72,193.86, and the Nifty rose 6.10 points to 21,737.50. About 2,302 shares advanced, 938 declined, and 140 were unchanged.

Sensex Today Live: China’s manufacturing activity slows in December in latest sign the economy is still struggling: Agencies 

A survey of factory managers in China shows that manufacturing contracted in December in the latest sign the world’s No. 2 economy remains sluggish.

The official purchasing managers index, or PMI, fell to 49 last month in what officials said was evidence of weak demand, the National Bureau of Statistics reported on Sunday. It was the third straight month of contraction. The PMI is on a scale up to 100 where 50 marks the cutoff between expansion and contraction.

The index has fallen in eight of the past nine months, with an increase only in September. In November, the index was at 49.4, down from 49.5 the month before.

Despite unexpectedly prolonged weakness after the pandemic, China’s economy grew at a 5.2% pace in the first three quarters of the year and showed signs of improvement in November, with factory output and retail sales rising.

Sensex Today Live: Godrej Properties acquires 4 acre of land parcel in Bengaluru

Sensex Today Live: Yes Bank shares rise; company received ₹150 crore in security receipts portfolio, with respect to sale of NPA portfolio

Sensex Today Live: Dr Reddy’s Laboratories has acquired 6.46% stake in Edity Therapeutics for $2 million

Sensex Today Live: Bajaj Auto December total sales up 16% YoY to 3.26 lakh units

Sensex Today Live: Sensex, Nifty open marginally lower 

At open, the Sensex was down 101.17 points at 72,139.09, and the Nifty fell 20.10 points to 21,711.30. About 1,815 shares advanced, 595 declined, and 162 were unchanged.

Sensex Today Live: India’s benchmark indices were marginally higher in pre-open

The Sensex was up 39.10 points at 72,279.36, and the Nifty was up 70.10 points at 21,801.50.

Nifty today broke a 5-day winning spell to end 47 points lower on Friday.

Sensex Today Live: Eicher Motors gets tax demand order for ₹130 crore

Sensex Today Live: Xi says willing to work with US for stable relationship: Agencies

China’s President Xi Jinping said Monday he was willing to work with the United States to promote stable bilateral ties, exchanging congratulations with his US counterpart on the anniversary of diplomatic relations, state media said.

Xi and US President Joe Biden met in San Francisco in November, vowing to improve communication in an effort to stop competition from spilling over into conflict.

And in an exchange of messages to mark the 45th anniversary of the establishment of diplomatic relations between the two countries, Xi said both sides should “take practical actions to promote the stable, healthy and sustainable development of China-US relations”.

Sensex Today Live: Markets brace for January storm as retail, institutions face off in derivatives

The battle of sentiment between the client category (comprising high net-worth and retail investors), and institutional investors has spilled over to the new year. The former has taken a bearish stance on index futures, and the latter a bullish one, a development likely to make markets choppy after a secular rally last month.

On 29 December, the first day of the January series, the combined cumulative net short Nifty and Bank Nifty futures (index) contracts held by clients and proprietary traders stood at 90,487. These contracts have been purchased by foreign portfolio investors (FPIs) and domestic institutional investors (DIIs), with the FPIs accounting for most buys on a net basis, National Stock Exchange of India (NSE) data shows. (Read here)

Sensex Today Live: India bond yields to debut 2024 with marginal uptick

Indian government bond yields are expected to start 2024 with an uptick as a higher-than-expected borrowing schedule from states could weigh on sentiment.

The 10-year benchmark bond yield is expected to move in the 7.15%-7.21% range on Monday after closing at 7.1754% in the last session of 2023, a trader with a private bank said.

The benchmark yield ended lower for the second consecutive month in December and closed the year with a drop of 15 basis points (bps).

Sensex Today Live: Nifty50 outlook by Reliance Securities 

NIFTY-50 has closed in a doji candle near all time high and we expect some minor pullback to test 21300-21,400 levels over the next few days.

On the higher side 22,000 will be a resistance being the round number and the weekly pivot resistance from current levels.

RSI is trending below the average line and pullback below to the lower range could be expected and other key technical indicators are overbought from current levels.

Highest call OI has moved to 22,000 strike while on the downside the highest put OI has moved higher to 21,700 for the weekly expiry.

Sensex Today Live: Banks rush out deposit rate hikes in scramble for cash

A number of large and mid-sized banks raised term deposit rates in December, luring customers to park surplus money with them as the system liquidity deficit widened following tax outflows and tepid government spending.

Some banks raised rates for deposits up to ₹2 crore; others raised rates for bigger deposits. Top lenders State Bank of India (SBI ) and Bank of Baroda (BoB) increased rates on fixed deposits by 25-50 basis points (bps) and 10-125 bps, respectively, for different tenors on 27 and 29 December. (Read here)

Sensex Today Live: Gift Nifty ticks lower 

Gift Nifty trading at 21,776, down 58 points, indicating a weak start for the Indian stock market indices.

On Friday, the Sensex ended lower by 170.12 points, or 0.23%, at 72,240.26, while the Nifty 50 declined 47.30 points, or 0.22%, to settle at 21,731.40.

Sensex Today Live: US markets ended weak on Friday

Global shares pulled back on the last trading day of the year but notched their biggest annual rise since 2019, while U.S. Treasuries finished the year broadly where they started after major swings for the benchmark in 2023.

Shares around the world have risen sharply in the last two months of the year as benchmark bond yields fell on expectations of central bank rate cuts in 2024.

The S&P 500 fell about 0.3% on Friday, just shy of its record closing high reached on 3 January 2022. The Dow Jones Industrial Average and the Nasdaq Composite both dipped on Friday but were 13.7% and 43.4% higher for the year, respectively.

European shares ended 2023 with an annual gain of almost 13% on hopes of softer monetary policy from major central banks next year, while MSCI’s world share index posted a 20% gain, its most in four years.