Share Market News Today | Sensex, Nifty, Share Prices Highlights: The benchmark equity indices ended Wednesday’s trading session in the positive territory. The NSE Nifty 50 gained 82.55 points or 0.40% to settle at 20,937.65, while the BSE Sensex jumped 357.59 points or 0.52% to 69,653.75. The broader indices ended in positive territory, with gains led by Largecap and Midcap stocks. Bank Nifty index dropped 177.70 points or 0.38% to settle at 46,834.55. Media and IT stocks outperformed among the other sectoral indices while Healthcare, and Realty stocks shed. Wipro, LTI Mindtree, ITC, Larsen & Tourbo, and TCS were the top gainers on the NSE Nifty 50, while the laggards include Adani Enterprises, Eicher Motors, Cipla, NTPC, and Axis Bank. The Indian Volatility Index (India VIX) closed up by 2.09 %.
(Source: NSE)
12:05 (IST) 6 Dec 2023 HCL Tech shares zoom
The stock price of HCL Tech advanced 1.70% to Rs 1,339.95 following the news that the company has extended its strategic IT and digital transformation partnership with Swedish manufacturer Husqvarna Group. Under the new five-year agreement, HCL Tech will leverage its AI, digital, engineering, and support services to enhance the resilience and stability of Husqvarna Groups’ IT environments through hyper-personalized, adaptive, AI-based solutions and a collaborative governance framework, according to the information available on the NSE.
11:24 (IST) 6 Dec 2023 Mid-market outlook
“Equity market benchmarks, Sensex and Nifty, have extended their upward trend for the seventh consecutive session, driven by consistent buying from foreign institutional investors and a decline in crude oil prices. On Tuesday, FIIs made substantial purchases of shares amounting to Rs 5,223.51 crore. Regarding the Nifty, its immediate support is identified at the 20,675 and 20,725 levels, with a potential for profit booking around the 21,000 mark. As for the Bank Nifty, a robust support zone lies within the 46,450-46,650 range. Anticipating profit booking within the 47,200 – 47,300 pivot resistance range, there’s an expectation of increased volatility, especially in light of the relative strength index (RSI) reaching 81 levels, particularly concerning the weekly expiry,” said Shrey Jain, Founder and CEO SAS Online.
11:13 (IST) 6 Dec 2023 Jindal Drilling shares soar
The stock price of Jindal Drilling & Industries jumped 4.44% to Rs 915 following the news that the ONGC has issued a Notification of Award to the Company for the deployment of its rig Jindal Supreme on its subsequent contract for a period of three years at Effective Day Rate (EDR) of USD 86,327. The current contract of Rig Jindal Supreme with ONGC is at an EDR of USD 39,578.78 and the same is expected to conclude in Q4 FY24.
10:41 (IST) 6 Dec 2023 Hindustan Zinc Shares lead
The stock price of Hindustan Zinc surged 2.15% to Rs. 232 after the company announced that the Board of Directors of the company had approved the 2nd Interim Dividend of Rs 6 per equity share, i.e., 300% on the face value of Rs 2/- per share for the Financial Year 2023-24, amounting to Rs. 2535.19 Crores.
10:19 (IST) 6 Dec 2023 Markets so far
09:41 (IST) 6 Dec 2023 Adani Green Energy shares soar
The stock price of Adani Green Energy soared nearly 20% to Rs 1,608 after the company announced a follow-on funding of $ 1.36 billion for construction financing from a consortium of international banks. The funding will take its construction financing framework to $3 billion, it said. The green loan facility will play a major role in enabling the development of renewable energy park at Khavda in Gujarat, which the company calls the world’s largest renewable energy park.
09:27 (IST) 6 Dec 2023 Early Gainers
Adani Ports, Adani Enterprises, UPL, Coal India and Asian Paints are leading the gains on the NSE Nifty 50 during the early trade on Wednesday.
09:26 (IST) 6 Dec 2023 Derivative outlook
“Nifty weekly contract has highest open interest at 21,000 for Calls and 20,700 for Puts while monthly contracts have highest open interest at 21,000 for Calls and 19,000 for Puts. Highest new OI addition was seen at 21,000 for Calls and 20,800 for Puts in weekly and at 21,500 for Calls and 20,800 for Puts in monthly contracts. FIIs increased their future index long position holdings by 16.56%, decreased future index shorts by -3.84% and in index options by 1.48% decrease in Call longs, 8.90% decrease in Call short, 16.71% increase in Put longs and 5.96% decrease in Put shorts,” said Anand James, Chief Market Strategist at Geojit Financial Services.
09:21 (IST) 6 Dec 2023 Markets open at record high
The NSE Nifty 50 opened at a record high of 20,950.75 up 0.45%, while BSE Sensex opened at 69,534.93 up 238.79 points.
09:08 (IST) 6 Dec 2023 Broader View
“Even though the undertone is bullish, the market is likely to consolidate in the near-term since up moves will be countered with profit booking by DIIs and individual investors who are sitting on big profits. Dips will be bought by FIIs who have emerged as sustained buyers. The continuous decline in US bond yields ( the 10-year yield is now below 4.20 %) will ensure FII buying. During the medium term, in the run up to the General elections, the market is likely to move up aided by three factors: one, expectations of political stability after the elections; two, favourable domestic macros like strong GDP growth, declining inflation, stable interest rates and soft crude;and three, favourable global cues from declining US bond yields. Bank Nifty will continue to be resilient,” said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
08:53 (IST) 6 Dec 2023 Market Outlook
“GIFT Nifty showed a positive trend, rising by 66 points to reach 21019. Despite overbought technical conditions, bullish traders remain resilient in the face of Chairman Powell’s hawkish statements, weak Asian markets, and geopolitical concerns. The fear of missing out (FOMO) continues to guide market sentiment, fueled by Foreign Institutional Investors’ optimism and the BJP’s recent electoral successes. The upcoming RBI MPC meeting is expected to maintain benchmark interest rates, and attention shifts to the US Nonfarm Payrolls for further policy outlook cues. Recommended trades include buying opportunities for Nifty, Bank Nifty, and selected stocks like Maruti, BEL, Manapurram Finance, TATA Consumer, NTPC, and PNB. The standout stock for consideration is ABFRL, with a suggested buy at CMP 240, stop at 231, and targets at 247/253, driven by a momentum play,” said Prashanth Tapse, Senior VP (Research), Mehta Equities.
08:37 (IST) 6 Dec 2023 Bank Nifty Outlook
“The Bank Nifty index maintained its robust buying momentum, although it formed a doji candle on the daily chart, suggesting a potential pause in the uptrend. A decisive breakout above 47,100, sustained over time, could propel the index toward 47,500 levels, indicating further upward momentum. The lower-end support has shifted to 46,400, serving as a crucial cushion for the bulls in case of any retracement,” said Kunal Shah, Senior Technical & Derivative analyst at LKP Securities.
08:33 (IST) 6 Dec 2023 F&O Ban
The NSE has added Delta Corp, Indiabulls Housing Finance, India Cements and Zee Entertainment to its F&O ban list for December 6, 2023.
08:31 (IST) 6 Dec 2023 FII, DII Data
Foreign institutional investors (FII) purchased shares worth net Rs 5,223.51 crore, while domestic institutional investors (DII) sold shares worth net Rs 1,399.18 crore on December 5, 2023, according to the provisional data available on the NSE.
08:28 (IST) 6 Dec 2023 US Dollar
The US Dollar Index (DXY), which measures the value of the dollar against a basket of six foreign currencies, traded down 0.09% at 103.95.
08:25 (IST) 6 Dec 2023 Crude Oil
WTI crude prices are trading at $72.39 up 0.11%, while Brent crude prices are trading at $77.37 up 0.22%, on Wednesday morning.
08:24 (IST) 6 Dec 2023 Wall Street
Wall Street finished mixed on Tuesday after fresh employment data bolstered bets that the US Federal Reserve will cut interest rates as soon as March, reported Reuters. The tech-heavy Nasdaq Composite advanced 0.31% to settle at 14,229.91, while the S&P 500 fell 0.06% to 4,567.18, and the Dow Jones Industrial Average slipped 0.22% to 36,124.56.
