Share Market News Today | Sensex, Nifty, Share Prices Highlights: The benchmark equity indices ended Monday’s trading session in the positive territory. The NSE Nifty 50 soared 418.90 points or 2.07% to settle at 20,686.80, while the BSE Sensex jumped 1383.93 points or 2.05% to 68,863.93. The broader indices ended in positive territory, with gains led by Largecap and Smallcap stocks. Bank Nifty index rallied 1617.20 points or 3.61% to settle at 46,431.40. Banking and Oil & Gas stocks outperformed among the other sectoral indices while Media and Pharma stocks shed. Eicher Motors, Adani Enterprises, Adani Ports & SEZ, BPCL and ICICI Bank were the top gainers on the NSE Nifty 50, while the laggards HDFC Life Insurance, Britannia Industries, HCL Technologies, Sun Pharma, and Wipro Company. The Indian Volatility Index (India VIX) closed up by 4.92 %.
(Source: NSE)
11:33 (IST) 4 Dec 2023 Adani Ports shares soar
Share price of Adani Ports & Special Economic Zone (APSEZ) soared 6.71% to Rs 883.35 after the company announced that it has recorded strong cargo volumes of around 36 MMT in the month of November 2023, up 42% year-on-year. “Growth was witnessed across all three broad cargo categories – dry bulk (over 60% YoY), containers (over 26%) and liquids and gas (over 23%),” the company said in a regulatory filing.
11:19 (IST) 4 Dec 2023 Mid-Market Outlook
“See the start of the pre-election rally for May 2024, which began in November and picked up speed after the state election results. The Nifty benchmark rose by a big 334.6 points, hitting a record high of 20,602.50, and the Sensex went up by a whopping 1,106.6 points, reaching a new high of 68,587.82. From a technical standpoint, the Nifty50 index is anticipated to find support in the 20200 -20,150 range, with a robust buy zone identified at 20,350 – 20,420. In the case of the Nifty Bank, strong support is expected around 44,825 – 44,950 levels, with a strong resistance zone identified at 45,375 -45,500 levels. With political stability and strong economic growth in the picture, there’s a possibility that the Nifty could reach the significant milestone of 21,000 by the end of this month,” said Shrey Jain, Founder and CEO SAS Online.
11:01 (IST) 4 Dec 2023 Market surges on state election results: Nifty Eyes 22000 in upcoming months
“The five state election results were crucial for the market as it is being seen as the semi-final for the 2024 general elections. The market cheered the results with a 347-point gap up in Nifty. What’s crucial is that it has sustained the gap with support from all the sectors. Taking a cue from the political developments and the market reaction in 2019, the market will witness upward momentum until the run-up to the general elections of 2024. Nifty can see the level of 22000 in the next four to five months. However, since Nifty has already rallied about 1700 in the past one-and-a-half months, occasional profit booking cannot be ruled out,” said Sheersham Gupta, Director and Senior Technical Analyst at Rupeezy.
10:45 (IST) 4 Dec 2023 Active stocks
HDFC Bank, ICICI Bank, Reliance Industries, Adani Enterprises and State Bank of India are among the most active stocks on the NSE.
10:25 (IST) 4 Dec 2023 HUL shares zoom
The stock price of Hindustan Unilever soared by 1.66% to Rs 2606.35. The northward movement is attributed to the company’s announcement to set up a 45 MW solar energy park in Rajasthan in partnership with Brookfield, a leading global alternative asset manager.
10:17 (IST) 4 Dec 2023 Bank Nifty shines
The Nifty Bank index soared 2.07% during early trade on Friday. Punjab National Bank and Bank of Baroda led the gains with a surge of 3.41% and 3.15%, respectively. SBI, ICICI Bank, Bandhan Bank, and IndusInd Bank have also rallied over 2% each.
09:54 (IST) 4 Dec 2023 Adani Enterprises continues to soar
Adani Enterprises, Adani Ports, Larsen & Toubro, Coal India and ICICI Bank are leading the gains on the NSE Nifty 50.
09:52 (IST) 4 Dec 2023 Markets outlook
“With the recent rally in stock market, any negative news may lead to profit booking. However the current election results are priced in from market perspective and so we believe that there wont be any major impact on the markets,” Vaibhav Shah, Fund Manager, Torus ORO PMS.
09:45 (IST) 4 Dec 2023 Dalal Street welcomes election results
“Positive outcome for the ruling government in current state elections brings a big cheer for the Equity markets. This also acts as a precursor to 2024 general assembly elections and increases hope for continuation of regime, thereby political stability and further economic reforms,” said Kaushik Dani, Fund Manager, ABANS Investment Managers.
09:43 (IST) 4 Dec 2023 Banking stocks shine
PSU Bank stocks are leading the gains among the other sectoral indices with a surge of 3.12%, while Private Bank, Financial Services, and Oil & Gas stocks have also rallied over 2% each.
09:39 (IST) 4 Dec 2023 Markets s far
(Source: NSE)
09:29 (IST) 4 Dec 2023 PSU Bank stocks zoom
The PSU Bank index is leading the gains among the other sectoral indices with a surge of 2.54% during the early trade. Union Bank of India soared 5.05%, while Canara Bank, Bank of Maharashtra, Punjab & Sind Bank, SBI, Bank of India, PNB, Indian Bank, and Bank of Baroda have rallied over 2% each.
09:24 (IST) 4 Dec 2023 Adani Enterprises leads
Adani Enterprises, Adani Ports, ICICI Bank, State Bank of India and Bharti Airtel are leading the gains on the NSE Nifty 50 during the early trade on Monday.
09:23 (IST) 4 Dec 2023 Derivative Outlook
“Nifty weekly contract has highest open interest at 21,000 for Calls and 20,000 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 20,600 for Calls and 20,200 for Puts in weekly and at 19,800 for Calls and 20,200 for Puts in monthly contracts. FIIs increased their future index long position holdings by 9.70%, decreased future index shorts by 2.22% and increased in index options by 50.83% in Call longs, 37.63% in Call short, 99.20% in Put longs and 75.99% in Put shorts, said Anand James, Chief Market Strategist at Geojit Financial Services.
09:19 (IST) 4 Dec 2023 Markets at open
The NSE Nifty 50 opened at a record high of 20, 601.95 up 1.64%, while BSE Sensex opened at 68,435.34 up 954.15.
09:10 (IST) 4 Dec 2023 Broader View
“The state elections results have turned out to be a big event which can trigger renewed optimism and further rally in the market. Market likes political stability and a reform-oriented, market-friendly government. From the market perspective, the results were better-than-expected. The market has already partly discounted a BJP victory with a 500 point rally during the last 4 sessions. But the mood is so exuberant that the rally will continue. The global backdrop also is favourable with the US 10-year bond yield declining to 4.23%. An across the board rally in stocks is in the offing. A restraining factor will be the valuations which are high and will get stretched further with the rally gaining momentum. In the near-term the market will ignore fundamentals and move up but soon high valuations will trigger some selling,” said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
08:54 (IST) 4 Dec 2023 Market Outlook
“Chair Powell may have dampened expectations for rate cuts, but this Monday morning sees Gift Nifty jumping anyway. Investors globally eagerly await December for the famed Santa Claus Rally, and this morning, the Christmas Cake is baked for solid gains. Key catalysts include a resurgent optimism from FIIs, with Rs. 10,593 crores bought in the past week, a 15.1% YoY rise in GST collections, and BJP’s state election results adding fuel to bullish sentiments. Bulls are thrilled with considerable drops in US inflation, a 5.2% Q3 US GDP surpassing the 4.9% estimate, and optimism that the Federal Reserve may cut borrowing costs in Q1 2024. With positive global cues, the Dow gained 2.42% in the past week, setting the stage for Nifty to start the week with a bullish bang, eyeing inter-month targets at the 21,000 mark. Preferred trades on Nifty and Bank Nifty include buying at CMP with specific targets,” said Prashanth Tapse, Senior VP (Research), Mehta Equities.
08:53 (IST) 4 Dec 2023 USD-INR
“The USD/INR 27th December futures contract experienced a decline from its recent highs. Based on the weekly technical chart analysis, the currency pair is currently trading above its moving average trend-line support level of 83.25, with the RSI holding above the 50 levels. However, the technical setup reveals negative divergence in the MACD, indicating a potential weakening of the bullish momentum. The pair is encountering significant resistance at higher levels. According to the weekly technical chart, the pair has support in the range of 83.22-83.05, while resistance is positioned at 83.55-83.70. The currency pair has been consolidating in a narrow range for an extended period and is anticipated to continue trading within the 82.80-83.70 range this week. To make informed trading decisions, it is advisable to closely monitor the levels of 83.25-83.50. A breakout on either side of this range could provide further guidance on the future direction of the pair,” Rahul Kalantri, VP Commodities, Mehta Equities.
08:34 (IST) 4 Dec 2023 F&O Ban
The NSE has added Delta Corp to its F&O ban list for December 4, 2023.
08:32 (IST) 4 Dec 2023 FII, DII Data
Foreign institutional investors (FII) purchased shares worth net Rs 1,589.61 crore, while domestic institutional investors (DII) added shares worth net Rs 1,448.08 crore on December 1, 2023, according to the provisional data available on the NSE.
08:20 (IST) 4 Dec 2023 Wall Street
Wall Street major indices ended higher on Friday. The benchmark S&P 500 index closed at its highest level of the year on Friday amid growing optimism the Federal Reserve was done raising US interest rates and could begin to cut them next year as inflation cools, reported Reuters. The S&P 500 advanced 0.59% to 4,594.63, the tech-heavy Nasdaq Composite added 78.81 points or 0.55% to settle at 14,305.03, and the Dow Jones Industrial Average surged 294.61 points to 36,245.50.
08:20 (IST) 4 Dec 2023 State-Assembly Elections
In the assembly elections held in the four states, the Bharatiya Janata Party (BJP) won Rajasthan, Chhattisgarh, and Madhya Pradesh, while the Congress party emerged victorious in Telangana.
