Stock Market Highlights: 22,000 next stop for Nifty bulls. What traders should do on Friday
05:20:05 PM IST, 28 December 2023
Tech View: 22,000 next stop for Nifty bulls. What traders should do on Friday
Having moved above the initial hurdle of 21650 levels, the Nifty is expected to advance towards the next overhead resistance of 22,200 levels in the near term, which is near the 100% Fibonacci extension of major bottom-top-bottoms. Immediate support is at 21550 levels, Nagaraj Shetti of HDFC Securities said.
On the derivative front, strikes of 21750 saw the highest addition PE open interest (OI) while 21800CE saw the highest OI build-up.
The benchmark index maintained its optimism and hit fresh high owing to ease in Red Sea issue and reversal of FII inflows. A decline in crude oil prices below $80 prompted widespread purchasing across oil and energy companies. The Asian market too advanced due to an expectation of more aggressive rate cuts by fed next year. While the global market was largely experiencing consolidation due to valuation concerns
– Vinod Nair, Head of Research at Geojit Financial Services
The Nifty remained firmly in bullish territory as the index surged to a new all-time high. Strong put writing at the 21700 strike bolstered the bulls, propelling the index toward 21800. Short-term support is situated at 21700, signaling a continued bullish sentiment. A decisive move above 21800 could lead the index toward the 22000 mark.
– Rupak De, Senior Technical Analyst at LKP Securities
The Bank Nifty has surged above the recent consolidation phase on the daily timeframe, signaling growing optimism among market participants. It has maintained its position above the critical short-term moving average, affirming the positive trend. In the short term, the outlook appears positive, maintaining a bullish stance as long as it stays above 48500. Resistance is placed at 49000 on the higher end.
– Rupak De, Senior Technical Analyst at LKP Securities
Markets witnessed bullish bets on the monthly F&O expiry day, indicating that the risk-on sentiment is likely to continue going ahead on hopes of a strong local macro play in the new year. The waning higher inflation concerns and expectations of an early rate cut in the world’s largest economy has further strengthened hopes that India’s growth momentum would continue further thus boosting investors’ confidence. However, amidst overbought technical conditions, key indices may consolidate in the near term but, that said, the medium-term outlook continues to be in favor of the bulls but only on any steep corrective declines. Technically, Nifty has key support at 21659-21501 and faces resistance at 22000-22251 levels.
– Prashanth Tapse, Senior VP (Research), Mehta Equities
03:39:01 PM IST, 28 December 2023
Rupee rises 17 paise to settle at 83.17 (provisional) against US dollar.
03:38:37 PM IST, 28 December 2023
Top gainers & losers in closing trade
03:36:10 PM IST, 28 December 2023
Closing Bell: Sensex extends record run, rallies 372 pts; Nifty ends above 21,750 on monthly F&O expiry
03:24:31 PM IST, 28 December 2023
Euro zone bond yields trade mixed near multi-month lows
Germany’s 10-year yield, the benchmark for the euro zone, was last up 2 basis points (bps) at 1.921%, edging up from Wednesday’s lowest level in more than 12 months at 1.898%. Bond yields move inversely with prices.
02:47:56 PM IST, 28 December 2023
Sensex Today | Stock Market LIVE Updates: Mahindra & Mahindra Ltd on Thursday said it has been imposed a penalty of over Rs 56 lakh for wrongly carrying forward input service distributor credit available in pre-GST into GST regime with regards to its two-wheeler business.
02:46:46 PM IST, 28 December 2023
Sensex Today | Stock Market LIVE Updates: Sarthak Metals announces decision to venture into new business of industrial bio-enzymes
02:37:08 PM IST, 28 December 2023
Sensex Today | Stock Market LIVE Updates: Easy Trip Planners to consider fund raising through preferential issuance of equity shares and share warrants
02:31:24 PM IST, 28 December 2023
FirstCry’s parent firm Brainbees Solutions files IPO papers with Sebi
Those selling shares in the OFS include Mahindra & Mahindra (M&M), TPG, NewQuest Asia, SVF Frog (Cayman) Ltd, Apricot Investments, Valiant Mauritius, TIMF, Think India Opportunities Fund, Schroders Capital and PI Opportunities.
02:29:18 PM IST, 28 December 2023
Sensex Today | Stock Market LIVE Updates: LIC ‘in active discussion’ with RBI for access to debt data via CRILIC: Mohanty
02:14:16 PM IST, 28 December 2023
Sensex Today | Stock Market LIVE Updates: Central Bank Of India enters into strategic co-lending partnership with Kisetsu Saison Finance
02:02:15 PM IST, 28 December 2023
Sensex Today | Stock Market LIVE Updates: European shares advance as rate-cut cheer lingers
European shares rose on Thursday, with miners and insurers leading the charge as markets looked set to finish the year strong amid persisting hopes that major global central banks could cut borrowing costs next year.
01:46:24 PM IST, 28 December 2023
Sensex Today | Stock Market LIVE Updates: Man Industries tests pipes for safe hydrogen transportation conducted By European Research Centre For hydrogen transport
01:36:14 PM IST, 28 December 2023
Sensex Today | Stock Market LIVE Updates: Footwear major Bata India has received a notice from the State Tax Officer, Anna Salai Assessment Circle, Chennai, amounting to Rs 60.56 crore, the company said in a filing to the bourses on Thursday. The notice dated December 27, 2023, pertains to several issues raised in a final audit report on December 25, for the 2018-19 financial year, according to the filing.
01:26:53 PM IST, 28 December 2023
Sensex Today | Stock Market LIVE Updates: Adani Enterprises executes term-sheet for formation of joint venture with UAE-based Sirius International Holding
01:12:59 PM IST, 28 December 2023
Sensex Today | Stock Market LIVE Updates: Coromandel International got directions from Tamil Nadu Pollution Control Board
- Production at ennore unit is about 10% of the monthly production volume
- Does not anticipate any material impact on its operations
- Shall restart ammonium phosphate potash sulphate plant, allied units after ensuring ammonia pipeline is intact, safe
- Shall obtain NOC from Directorate of Industrial Safety and Health
01:04:40 PM IST, 28 December 2023
Sensex Today | Stock Market LIVE Updates: Kajaria Ceramics approves increase in limits of investment by company in Kajaria Plywood
12:53:21 PM IST, 28 December 2023
Sensex Today | Stock Market LIVE Updates: Oil and gas stocks gain led by HPCL
Oil and gas stocks are up in trade on Thursday led by HPCL which gained more than 6 per cent. BSE Oil and Gas index is up 1.72 per cent in trade.
12:28:58 PM IST, 28 December 2023
Sensex Today | Stock Market LIVE Updates: HUDCO shares skyrocket 19%, hit new 52-week high on Rs 14,500 crore MoU with Gujarat Govt
12:15:46 PM IST, 28 December 2023
Sensex Today | Stock Market LIVE Updates: ICICI Bank gets order from Tamil Nadu GST department
12:08:36 PM IST, 28 December 2023
Sensex Today | Stock Market LIVE Updates: Droneacharya Aerial Innovations gets contract from TCS
11:45:53 AM IST, 28 December 2023
Sensex Today | Stock Market LIVE Updates: Tokyo shares close lower
Tokyo stocks closed lower on Thursday as investors locked in profits and the yen drifted higher. The benchmark Nikkei 225 index fell 0.42 percent, or 141.62 points, to end at 33,539.62, while the broader Topix index dipped 0.14 percent, or 3.38 points, to 2,362.02.
11:30:48 AM IST, 28 December 2023
Sensex Today | Stock Market LIVE Updates: Larsen and Toubro says L&T Construction wins large orders for its power transmission & distribution (PT&D) business worth Rs 2500-5000 crore
11:29:51 AM IST, 28 December 2023
Sensex Today | Stock Market LIVE Updates: Sheetal Diamonds approved preferential issue of Rs 49.95 crore
11:20:02 AM IST, 28 December 2023
Sensex Today | Stock Market LIVE Updates: E-tailer Firstcry’s parent files to go public
Indian online retailer Firstcry filed for an initial public offering on Thursday, its draft papers showed. Firstcry’s parent Brainbees Solutions will sell shares worth 18.16 billion rupees ($218 million) and existing investors, including SoftBank, will sell up to 54.4 million shares. (Source: Reuters)
11:15:22 AM IST, 28 December 2023
Sensex Today | Stock Market LIVE Updates: Renewables solutions provider Suzlon on Thursday said it has bagged a 300 MW wind energy project from Apraava Energy. Suzlon will instal 100 Wind Turbine Generators (WTGs) with a Hybrid Lattice Tubular (HLT) tower, and a rated capacity of 3 MW each at the client’s site in Karnataka, a company statement said.
11:11:20 AM IST, 28 December 2023
Sensex Today | Stock Market LIVE Updates: Zomato stock down after Rs 400 crore show-cause notice for GST dues
11:07:03 AM IST, 28 December 2023
Sensex Today | Stock Market LIVE Updates: Top 4 losers from the media pack
11:02:55 AM IST, 28 December 2023
Sensex Today | Stock Market LIVE Updates: Gold Rate Today: Yellow metal rises to three-week high as US rate cut bets firm
Gold prices surged on Thursday to the highest in more than 3 weeks as the US dollar and bond yields hit multi-month lows on mounting bets the Federal Reserve will start cutting interest rates as soon as next March.
10:47:03 AM IST, 28 December 2023
Sensex Today | Stock Market LIVE Updates: Azad Engineering shares list at 37% premium over IPO price
Shares of Azad Engineering debuted on NSE at a premium of 37.4% (Rs 196) at Rs 720 apiece on Thursday. The stock was listed at Rs 710 on BSE (up 35.5%) as against the issue price of Rs 524.
10:37:54 AM IST, 28 December 2023
Sensex Today | Stock Market LIVE Updates: Bond yields’ dip capped by expected fresh debt sale
Indian government bond yields dipped in the early session on Thursday, tracking the drop in U.S. yields, although the move was capped ahead of the upcoming debt supply at the end of the week.
10:21:06 AM IST, 28 December 2023
Sensex Today | Stock Market LIVE Updates: Oil prices stabilise as Red Sea transport disruptions ease
Oil prices steadied on Thursday after falling sharply in the previous session, as concerns eased about shipping disruptions along the Red Sea route even as tensions in the Middle East continued to rise.
10:12:36 AM IST, 28 December 2023
Sensex Today | Stock Market LIVE Updates: China stocks rebound on strong foreign inflows
China stocks rebounded on Thursday on strong foreign inflows, with overseas investors snapping up big-cap Chinese companies as policy expectations and the market’s low valuation offered attractive opportunities.
10:02:36 AM IST, 28 December 2023
Sensex Today | Stock Market LIVE Updates: South Indian Bank up 3% after its board approved a proposal for fundraising for up to Rs 1,750 crore via share issue on a right basis
09:47:53 AM IST, 28 December 2023
Sensex Today | Stock Market LIVE Updates: Canara Bank shares jump 3% on plans to launch IPO of MF unit
09:41:50 AM IST, 28 December 2023
Sensex Today | Stock Market LIVE Updates: Adani Ports receives ratings for planned bond issue
09:33:16 AM IST, 28 December 2023
Sensex Today | Stock Market LIVE Updates: Rupee rises 8 paise to 83.26 against US dollar in early trade
The rupee appreciated 8 paise to 83.26 against the US dollar on Thursday, tracking a weak American currency against major overseas rivals and positive cues from domestic equity markets.
The rally looks set to continue supported by the leading banks which are witnessing institutional accumulation. Strong cues from the mother market US, steadily declining US bond yields and the dollar index below 101 augur well for the continuation of the rally. It is important to note that high quality large caps have taken the leadership in this rally which has taken the Sensex above 72k. A significant market indicator is the volatility index VIX rising above 15. Investors should take this as an indication of high volatility ahead. Remaining invested is important in a bull market. But chasing the market at high valuations would be highly risky.
– Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
09:23:52 AM IST, 28 December 2023
Sensex Today | Stock Market LIVE Updates: Most active stocks on NSE
09:18:49 AM IST, 28 December 2023
Opening Bell: Sensex rises 200 points, hits fresh high; Nifty tops 21,700 for first time
09:08:59 AM IST, 28 December 2023
Sensex Today | Stock Market LIVE Updates: Pre-open session: Sensex rises 230 points; Nifty above 21,720
09:06:10 AM IST, 28 December 2023
Sensex Today | Stock Market LIVE Updates: Azad Engineering shares to list today. Here’s what GMP signals
Ahead of the listing, the company’s shares are trading with a premium of Rs 172 in the unlisted market. The company’s shares are likely to list with a premium of 33%.
08:38:14 AM IST, 28 December 2023
Pre-opening market comment by Prashanth Tapse, Senior VP (Research), Mehta Equities
The Santa Claus rally is in full swing, and as 2023 approaches its end, investors are anticipating a strong finish for Nifty. Dow, S&P, and Nasdaq have posted impressive year-to-date gains of 14.5%, 26%, and 58%, respectively, while Nifty has surged 18%, reaching a new all-time high at 21676. The market’s positive response to the Fed signaling three interest rate cuts in 2024 suggests a repricing of six cuts. Technically, Nifty and Bank Nifty stand out as bullish, with Nifty’s immediate target at 22000 and Bank Nifty eyeing 48700. The preferred trades involve buying Nifty at CMP with a stop at 21301 and targets at 21750/21907, and Bank Nifty at CMP with a stop at 47301 and targets at 48750/49000. Notably, the charts are bullish on LUPIN, INDUSIND BANK, BANK OF BARODA, COAL INDIA, and SUN PHARMA, particularly during intraday weakness. The top pick for the moment is INDUSIND BANK (CMP 1597), with a buy at CMP, stop at 1544, and targets at 1611/1637, aiming for 1661 in an interweek strategy driven by momentum play. Overall, the ongoing Santa Claus Rally is poised to continue into early January at Dalal Street, setting an optimistic tone for the promising year ahead in 2024, with investors maintaining confidence in India’s growth prospects.
08:17:10 AM IST, 28 December 2023
Sensex Today | Stock Market LIVE Updates: Gold climbs to 3-week high as US rate cut bets firm
Gold prices climbed to a three-week high on Thursday as the U.S. dollar and bond yields touched multi-month lows on mounting bets that the U.S. central bank will start to cut interest rates as early as March next year.
08:09:41 AM IST, 28 December 2023
Sensex Today | Stock Market LIVE Updates: Bruised dollar wobbles as traders eye US rate cuts next year
The dollar nursed steep losses on Thursday and was headed for a yearly decline after two years of strong gains as expectations of interest rate cuts from the Federal Reserve next year grip markets.
07:53:11 AM IST, 28 December 2023
Sensex Today | Stock Market LIVE Updates: Asian shares at five-month highs as rate bets pile up
Asian shares touched five-month highs on Thursday as market wagers on ever-more aggressive rate cuts extended a huge rally in U.S. stocks and bonds, but also left plenty of scope for disappointment next year.
07:31:01 AM IST, 28 December 2023
Sensex Today | Stock Market LIVE Updates: Tokyo shares open lower
Tokyo stocks opened lower Thursday as the yen drifted higher. The benchmark Nikkei 225 index fell 0.61 percent, or 203.96 points, to 33,477.28 in early trade, while the broader Topix index dipped 0.53 percent, or 12.61 points, to 2,352.79.
07:31:07 AM IST, 28 December 2023
Sensex Today | Stock Market LIVE Updates: Oil prices rise amid fears over escalating tensions in Middle East
Oil prices rose in early Asian trade on Thursday as persistent fears over escalating tensions in the Middle East outweighed easing concerns about transport disruptions as some global shipping firms said they were returning to the Red Sea route.
07:31:15 AM IST, 28 December 2023
Sensex Today | Stock Market LIVE Updates: GIFT Nifty (Earlier SGX Nifty) signals a positive start
GIFT Nifty on the NSE IX traded higher by 81 points, or 0.37 per cent, at 21,751, signaling that Dalal Street was headed for positive start on Thursday.
07:31:22 AM IST, 28 December 2023
Sensex Today | Stock Market LIVE Updates: Tech View: Nifty forms long bull candle ahead of monthly expiry
Nifty on Wednesday rallied 213 points to comfortably surpass the hurdle at 21,600 and formed a long bull candle on the daily chart.
07:31:30 AM IST, 28 December 2023
Sensex Today | Stock Market LIVE Updates: Rupee falls 15 paise to 83.34 against US dollar
The rupee declined 15 paise to settle at 83.34 against the US dollar on Wednesday due to sustained outflow of foreign funds and increased demand for American currency from importers and banks.
07:31:37 AM IST, 28 December 2023
Sensex Today | Stock Market LIVE Updates: Wall Street ekes out modest gains as S&P 500 hovers near all-time closing high
US stocks closed slightly higher in languid trading on Wednesday, with little market-moving news to fuel conviction as the S&P 500 hovered just below bull market confirmation.
07:31:45 AM IST, 28 December 2023
Sensex Today | Stock Market LIVE Updates: Sensex, Nifty on Wednesday
Bluechips left smallcaps and midcaps behind as the Sensex rallied over 700 points on Wednesday to scale the 72,000 mark for the first time. Nifty, too, hit a fresh all-time peak of 21,654.75 amid all-round buying in banks, auto, metals and IT stocks.
