Share Market News Today | Sensex, Nifty, Share Prices Highlights: The benchmark equity indices ended Week’s last trading session in positive territory. The NSE Nifty 50 soared 1.29% to settle at a record high of 21,456.65, while the BSE Sensex as much as 969.55 points to 71,483.75. The broader indices settled higher with the gains led by Nifty 100 and Nifty 200 stocks. The Bank Nifty index climbed 411.25 points, or 0.86%, to settle at 48,143.55. IT and PSU Bank stocks led the gains among the other sectoral indices and soared over 4% and 2%, respectively, while Financial Services and Realty stocks settled in red. TCS, HCL Tech, Infosys, SBI and Tata Steel were the top gainers on the NSE Nifty 50, while the laggards included HDFC Life Insurance, Nestle India, SBI Life Insurance Company, Bharti Airtel and Bajaj Auto. The volatility index (India Vix) ended up 6.55%.
13:14 (IST) 15 Dec 2023 Bullion Outlook
“Gold and silver experienced a significant surge, buoyed by the unexpected revelations from the Federal Reserve meeting. The U.S. Fed indicated that the terminal rate has been reached based on the latest CPI and PPI data. Also, the Fed hinted at the possibility of three rate cuts in 2024. Consequently, the dollar index plummeted, and U.S. 10-year bond yields fell below 4.0%. The U.S. stock market achieved its yearly high, and other riskier asset classes demonstrated resilience. Anticipating continued volatility in today’s session, gold’s support is identified at $2005-2018, with resistance at $2044-2055. Meanwhile, silver is expected to find support at $23.78-23.61, with resistance at $24.22-24.40. In INR, gold’s support is at Rs 62,070-61,810, and resistance is at Rs 62,590-62,710. For silver in INR, support is seen at Rs 74,450-73,880, while resistance stands at Rs 75,650-76,130,” said Rahul Kalantri, VP Commodities, Mehta Equities Ltd
12:56 (IST) 15 Dec 2023 Coforge Faces Rs 10,000 GST Penalty
Coforge has received an order from GST Authority imposing penalty of ₹10,000 under applicable provisions of Central Goods and Services Act, 2017. The stock rises by 4.72% on the NSE, trading at ₹6,447.35.
12:41 (IST) 15 Dec 2023 PI Industries in Focus
Jefferies has maintained its ‘Buy’ recommendation on PI Industries, albeit with a revised target price of Rs 4,120 per share, citing valuation concerns. Despite the adjustment in the target price, Jefferies remains optimistic about the company’s prospects, underscoring key growth drivers and strategies outlined by the innovator.
Also Read: Jefferies Maintains ‘Buy’ Rating on PI Industries Despite Valuation Concerns, Cuts Target
12:16 (IST) 15 Dec 2023 Mid-day Gainers
TCS, HCL Technologies, LTI Mindtree, Inosys, Tech Mahindra are the top gainers on NSE Nifty 50 index.
11:46 (IST) 15 Dec 2023 Crude Oil Outlook
“Crude oil prices marked a second consecutive session gain, rebounding from a six-month low on Wednesday. The surge came in the wake of the IEA optimistic demand forecast for 2024, unveiled in its monthly report released on Thursday. According to the IEA, global oil consumption is anticipated to increase by 1.1 million barrels per day in 2024, reflecting a 130,000-barrel-per-day upward revision from its previous projection. This adjustment is attributed to an improved outlook for the U.S. and lower oil prices. Additionally, the rally in crude oil prices was bolstered by a decline in the dollar index to 19-week lows and a slip in U.S. 10-year bond yields below the 4.0% threshold, following signals from the U.S. Federal Reserve indicating potential rate cuts in 2024. Furthermore, an uptick in risk appetite and the strength observed in global equity markets provided additional support for crude oil prices. Expectations are for crude oil prices to maintain volatility in today’s session. The commodity finds support in the range of $71.50–70.80, with resistance levels identified at $72.90–73.50. In terms of INR, crude oil is anticipated to have support at Rs 5,880–5,810, while resistance is projected at Rs 6,120–6,190,” said Rahul Kalantri, VP Commodities, Mehta Equities Ltd.
11:35 (IST) 15 Dec 2023 Nifty IT gains over 4%
The Nifty IT index gains more than 4% in intra-day trade on Friday. The top performing stocks in IT index includes Persistent Systems, Coforge, HCL Technologies, Tech Mahindra, and Infosys.
11:16 (IST) 15 Dec 2023 Jefferies on Insurance Companies
Jefferies has shed light on a groundbreaking development that could reshape the insurance industry – the introduction of the “threshold premium” concept. While still in the consultation stage, this innovative idea has the potential to significantly impact insurers by influencing surrender values and, subsequently, trimming fees inversely.
Also Read: Jefferies report unveils potential disruptions in insurance sector with new threshold premium concept
10:56 (IST) 15 Dec 2023 Nifty outlook
“Yesterday’s run just about met 21220, pencilled in yesterday as the upside objective. Prospects of extension into the 21430-600 region, now rests on the ability to hold above 21160 which may be used as the downside marker for today. Slippage past the same could ask support from 20890, but will also expose 20700. Given how divergences are maturing in different oscillators, our bets are on a turn lower from the top,” Anand James, Chief Market Strategist at Geojit Financial Services.
10:44 (IST) 15 Dec 2023 Markets so far
10:35 (IST) 15 Dec 2023 Derivative outlook
“Nifty weekly contract has highest open interest at 21200 for Calls and 21150 for Puts while monthly contracts have highest open interest at 21000 for Calls and 21000 for Puts. Highest new OI addition was seen at 21200 for Calls and 21150 for Puts in weekly and at 21300 for Calls and 21150 for Puts in monthly contracts. FIIs increased their future index long position holdings by 0.68%, increased future index shorts by 4.09% and in index options by 22.78% decrease in Call longs, 8.09% decrease in Call short, 7.27% decrease in Put longs and 13.07% increase in Put shorts,” Anand James, Chief Market Strategist at Geojit Financial Services.
10:24 (IST) 15 Dec 2023 Texmaco Rails jumps more than 5%
Shares of Texmaco Rail Engineering gains more than 5% in the intra-day trade on the following news that the company has secured an order worth Rs 1,374.41 crores from the Ministry of Railways for the manufacturing and supply of 3,400 BOXNS wagons.
10:11 (IST) 15 Dec 2023 USD-INR outlook
“Slippages were limited yesterday, allowing renewed attempts at breaking 83.4. This puts 83.29-83.4 as the range to break, until inside which moves are likely to be lacklustre,” Anand James, Chief Market Strategist at Geojit Financial Services.
10:03 (IST) 15 Dec 2023 Suzlon in focus
Suzlon wins a large 100MW order from a global utility. Shares gain more than 1% in intra-day trade.
09:55 (IST) 15 Dec 2023 Top losers on NSE
HDFC Life Insuance, Nestle India, Axis Bank, SBI Life Insurance, and Adani port and SEZ are the top losers on NSE Nifty 50 index.
09:48 (IST) 15 Dec 2023 Bank Nifty Outlook
“The Bank Nifty bulls maintained their momentum, successfully surpassing the key resistance level of 47500 with significant trading volumes. The overall market sentiment remains bullish, and any temporary declines are considered buying opportunities, with a strong support level identified at 47000. The ongoing momentum is expected to be driven by active participation from both private and PSU banks, propelling the Bank Nifty index towards the 50000 mark” said Kunal Shah, Senior Technical & Derivative analyst at LKP Securities
09:34 (IST) 15 Dec 2023 Early gainers on Nifty
Hindalco Industries, JSW Steel, Tata Steel, Infosys, and UPL are the top gainers on NSE Nifty 50 index.
09:25 (IST) 15 Dec 2023 Technical View
Commenting on the Technical outlook of Rupak De, Senior Technical analyst at LKP Securities, said, The index has broken out of consolidation, driven by an increase in long positions compared to short trades among participants. Sentiment remains robust as the index maintains a position comfortably above crucial moving averages. Support is situated at 21,000, where Put writers have significant position. Looking ahead, there’s a potential for the index to advance towards 21,400 and beyond on the higher side.
09:16 (IST) 15 Dec 2023 Markets open at new high
The NSE Nifty opened at 21,287.45 up or 0.49%. The BSE Sensex gains 0.41% to open at 70,804.14.
08:58 (IST) 15 Dec 2023 Crude Oil
WTI crude prices are trading at $71.60 up 0.03%, while Brent crude prices are trading at $76.63 up 0.08%, on Friday morning.
08:49 (IST) 15 Dec 2023 F&O Ban
The NSE has added India Cements, Balrampur Chini Mills, Delta Corp, Indiabulls Housing Finance, Hindustan Copper, National Aluminium Company Ltd, and ZEEL to its F&O ban list for December 14, 2023.
08:48 (IST) 15 Dec 2023 FII, DII Data
Foreign institutional investors (FII) added shares worth net Rs 3,570.1 crore, while domestic institutional investors (DII) bought shares worth net Rs 553.2 crore on December 14, 2023, according to the provisional data available on the NSE.
08:39 (IST) 15 Dec 2023 Asian Markets
Shares in the Asia-Pacific region are trading in the green on Friday morning. The Asia Dow is trading up 0.51%, Japan’s Nikkei 225 is green, up 0.96%, Hong Kong’s Hang Seng index is trading up 1.07% and the benchmark Chinese index Shanghai Composite is down by 0.33%.
08:29 (IST) 15 Dec 2023 US Dollar
WTI crude prices are trading at $71.60 up 0.03%, while Brent crude prices are trading at $76.63 up 0.08%, on Friday morning.
08:19 (IST) 15 Dec 2023 Wall Street
The Dow Jones industrial average hit its first record closing high since January 2022 and the S&P 500 and Nasdaq rallied on Thursday after the Federal Reserve signaled that its interest rate-hiking policy is at an end and that it sees lower borrowing costs in 2024, reported Reuters. The tech-heavy Nasdaq Composite gained 27.60 points or 0.19% at 14,761.56. The S&P 500 added 12.46 points or 0.26% at 4,719.55, while the Dow Jones Industrial Average ended higher by 158.11 points or 0.43% to 37,248.35.
