BSE Sensex ended the day with marginal surge of 31.68 to 72,271 and Nifty50 gained 10 points to 21,741 on Monday. Nifty Bank declined 57 points to 48,234 and Nifty Midcap jumped 290 points to 46,472 on Monday. Meanwhile, Trent shares hit fresh 52-week high but despite that declined 1.76% till 3:22 pm. Large cap Tata Group stock Trent Ltd shares gained nearly 122.68% in last 1-year (2023) and soared 44.71% in last 3-months.
Maruti Suzuki India Ltd shares declined 0.46% to 10251.65 apiece as it declared a 1.28% fall in total sales at 1,37,551 units in December 2023. It declared its total sales of 1,39,347 units in the same month a year ago.
Meanwhile, shares of Allcargo Logistics jumped over 7% as it will trade ex-bonus tomorrow.
Stocks like Tata Motors, Nestle, SBI, and ITC are the top gainers. While stocks like Bharti Airtel, Axis Bank, Hindustan Unilever, Tech Mahindra, and HCL Tech are major bears.
Sectoral indices like private banks, financials, and IT were in red, emerging as the top draggers of domestic market. However, bearish tone was limited due to gains in media, pharma, oil & gas, and PSU bank stocks.
Notably, Asian, US and European shares as they are closed due to the celebration of the new year.
For the domestic market, movement will be influenced according to the upcoming key factors especially the onset of Q3 earnings season for FY24 with IT companies lining up for their financial reports in early January. Also, a few immediate focuses of bulls and bears in the stock market will be on inflation data, interim Union Budget for FY25, RBI policy, and economic growth followed by the General Election 2024 trajectory.
Last week, on December 29th which is the last trading day of 2023, Sensex ended at 72,240.26 down by 170.12 points or 0.23%. Nifty 50 settled at 21,731.40, lower by 47.30 points or 0.22%. Also, Bank Nifty shed 216.30 points or 0.45% to close at 48,292.25.
Nevertheless, the Indian market's 2023 has broadly been of strong bulls.
Sensex closed the year 2023 with gains of a massive 11,072.47 points or 18.10%, while Nifty 50 surged by 3,533.95 points or 19.42% to end at 21,731.40. In the last month of the year, Sensex and Nifty touched a new record high of 72,417.01 and 21,801.45.
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Jan 01, 2024, 3:38 pm IST
Trent Hits 52-Week High, Rallies 123% In 2023
Large cap Tata Group stock Trent Ltd shares gained nearly 122.68% in last 1-year (2023) and soared 44.71% in last 3-months. Today Trent shares hit fresh 52-week high but despite that declined 1.76% till 3:22 pm. The company operating in specialty retail industry has a market capitalisation of Rs 1,06,896.86 crore. Earlier this year, Trent declared dividend of Rs 2.20 and the ex-dividend date was 25 May 2023.
Jan 01, 2024, 2:20 pm IST
10 Best IPOs That Saw Robust Listing In 2023
According to statistics from chittorgarh.com, 242 Indian firms made initial public offerings (IPOs) in 2023, including mainboard and SME IPOs. Of them, 57 mainboard IPOs raised around Rs 52,000 Cr, and 182 SME IPOs raised Rs 4967 Cr. The full list of the top 10 IPOs in 2023 that saw strong listing gains on Dalal Street can be seen here.
Jan 01, 2024, 2:03 pm IST
Maruti Suzuki Shares Fall Amid Fall In Total Sales
Maruti Suzuki India Ltd shares declined 0.46% to 10251.65 apiece as it declared a 1.28% fall in total sales at 1,37,551 units in December 2023. It declared its total sales of 1,39,347 units in the same month a year ago.
Total domestic sales, comprising passenger vehicles, commercial vehicles and third-party supplies, were at 1,10,667 units last month as against 1,17,551 units in the year-ago period, down 5.86 per cent, Maruti Suzuki India said in a statement.
Jan 01, 2024, 12:53 pm IST
Logistics Stock To Offer 3 Bonus Shares Tomorrow, Shares Gain 7.03% Intraday
Small cap company operating in logistics sector, Allcargo Logistics Ltd is all set to offer 3 bonus shares for every 1 share held as tomorrow is the record date. Current market price of Allcargo Logistics share on BSE is Rs 344.10 per share with intraday gain of 7.03%. Allcargo Logistics shares gained 29.87% in last 30 days and declined 14.71% in last 1-year.
Jan 01, 2024, 12:05 pm IST
Bandhan Bank Transfers Housing Finance NPA
Bandhan Bank has utilized the Swiss Challenge Method to transfer its housing finance NPA portfolio, which includes accounts with days past due (DPD) exceeding 180 days. The outstanding amount of this portfolio, as of December 28, 2023, is Rs 719.69 crore. The bank has completed the transfer to an Asset Reconstruction Company (ARC) for Rs 289.60 crore in an outright cash transaction.
Jan 01, 2024, 11:43 am IST
Alkem Labs Concludes Sale Of US Unit For .96 Million
Alkem Laboratories has successfully concluded the sale of its manufacturing facility in St. Louis, USA, owned by its subsidiary S&B Pharma LLC. The company has ceased operations at this facility, and the rights, title, and interest in the land, improvements, and personal property associated with the facility have been sold to New Mill Capital Holdings LLC for .96 million.
Jan 01, 2024, 11:22 am IST
Dhampur Surgar Shares Climb Ahead Of Board Meet On Jan 3
Dhampur Sugar Mills witnessed a surge in its shares on Monday following the board's declaration of an upcoming meeting on January 3. The agenda of the meeting includes the consideration of a proposal for the buyback of the company's equity shares.
Jan 01, 2024, 10:56 am IST
HFCL Shares Surge On Order Win
HFCL Ltd shares have risen by more than 3% compared to the previous close on the BSE. The company disclosed in its exchange filing that it has secured an Advanced Purchase Order (APO) valued at Rs 1,127 crore from BSNL. This order is for the implementation of an optical transport network to handle the telecom operator's traffic across India.
Jan 01, 2024, 10:23 am IST
Voda Idea Surges As Investors Await Clarity On Fund Raise
Vodafone Idea's stocks have surged by 30% over the course of two trading sessions, with investors eagerly anticipating clarification on the fundraising plans. The company's management previously indicated that the promoters would inject up to ₹2,000 crore by the conclusion of the December quarter, which concluded on Sunday.
Jan 01, 2024, 9:46 am IST
Top Gainers And Losers Of Opening Bell
Stocks like Tata Motors, Nestle, ITC, IndusInd Bank, and SBI were top gainers. But stocks like NTPC, M&M, HUL, Bharti Airtel, Wipro and Sun Pharma were top losers.
Jan 01, 2024, 9:46 am IST
Sensex's Early Deals
Sensex opened at 72,218.39, and touched an intraday high and low of 72,222.72 and 72,222.72 respectively in the opening bell. Currently, the benchmark is trading at 72,085.35, down by 154.91 points or 0.21%.
Jan 01, 2024, 9:46 am IST
Nifty Price In Early Trade
Nifty 50 opened at 21,727.75, and hit intraday high and low of 21,737.35 and 21,684.05 in the early trade. Currently, the benchmark traded at 21,702.45, down by 28.95 points or 0.13%.
Jan 01, 2024, 9:19 am IST
Geojit's Nifty Outlook For New Year's Day
Anand James, Chief Market Strategist at Geojit Financial Services said: We are close to the 21860 objective that we had pencilled in last week. If the bulls choose to ride on the momentum, we could stretch as far as 22400, but we feel that a turn lower or side ways move is highly likely given how pronounced the negative divergence is on the directional moving indicator, and with 3d RSI peaking. That we are about 8.5% above the 100 DMA also supports this construct, as the last time we were more than 10% above this benchmark, which was in late July 2023, a three month consolidation followed. We will use 21730 as a pivot to go with this construct this week.
Jan 01, 2024, 9:19 am IST
Derivative Trajectory Today:
Geojit Financial Services' Chief Market Strategist Anand James: Nifty weekly contract has highest open interest at 22000 for Calls and 21500 for Puts while monthly contracts have highest open interest at 22000 for Calls and 21000 for Puts. Highest new OI addition was seen at 23000 for Calls and 18300 for Puts in weekly and at 22200 for Calls and 21400 for Puts in monthly contracts. FIIs increased their future index long position holdings by 3.08%, increased future index shorts by 3.19% and in index options by 83.90% in Call longs, 58.47% in Call short, 60.52% in Put longs and 41.99% in Put shorts.
Jan 01, 2024, 9:19 am IST
How Rupee Will Trade Today
Anand James, Chief Market Strategist at Geojit Financial Services: The narrow range prevailing for the last few months, raises the risk of a major breakout. With 83.65-82.78 as the closest extremities projected for the first of such a move, USDINR will be seen swinging on either side of 83.19 initially, without breaching 83.02-83.4.
Jan 01, 2024, 9:17 am IST
Bank Nifty Outlook Today
Vaishali Parekh, Vice President - Technical Research, Prabhudas Lilladher: BankNifty finding resistance near the 48500 levels slipped down to some extent with near-term support
maintained near 48000 zone whereas 46300 levels shall remain maintained as the strong support zone overall.
BankNifty would have a daily range of 47900–48600 levels.
Jan 01, 2024, 9:14 am IST
Key Factors For Market
As per Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, "As the New Year begins it is a Goldilocks scenario for the economy and markets. The growth momentum in the economy is strong. 7% GDP growth in FY24 is likely to be followed by around 6.7% growth in FY25 with decent corporate earnings growth. The banking system is in the pink of health and all macroeconomic indicators are stable. Political stability after the General elections looks almost certain. From the global perspective, the US economy appears to be heading for soft landing. The US 10-year bond yield at 3.87 % and the dollar index at 100.6 are tailwinds for the market. FPI inflows in 2024 are likely to be robust. The concern, however, is that most of this good news is in the price; valuations are a bit stretched and above the long-term averages. So, the market is vulnerable to corrections from presently unknown risks. The broader market is overvalued; safety is in large-caps.
Jan 01, 2024, 8:59 am IST
Nifty Outlook Today
Vaishali Parekh, Vice President - Technical Research, Prabhudas Lilladher said, Nifty took a breather near 21800 zone halting the ongoing rally finding resistance and remained rangebound
for the entire session near 21720 zone with bias maintained positive. As mentioned earlier, the index would
have levels near 21550 maintained as the near-term support while the next major targets of 22200-22300 levels are anticipated in the coming days with the strong uptrend still maintained intact. The support for the day is seen at 21600 zone while the resistance is seen at 21900 level.
Jan 01, 2024, 8:32 am IST
Stocks To Watch Today:
Popular companies like SBI, Zomato, Yes Bank, SJVN, and Aster DM Healthcare are among the top 10 stocks that market observers are likely to be keeping an eye on on Monday, January 1, 2024.
Jan 01, 2024, 8:31 am IST
Sensex, Nifty's 2023
Indian market's 2023 has broadly been of strong bulls. Sensex closed the year 2023 with gains of a massive 11,072.47 points or 18.10%, while Nifty 50 surged by 3,533.95 points or 19.42% to end at 21,731.40. In the last month of the year, Sensex and Nifty touched a new record high of 72,417.01 and 21,801.45.
Jan 01, 2024, 8:29 am IST
Market Previous Performance
On December 29th which is the last trading day of 2023, Sensex ended at 72,240.26 down by 170.12 points or 0.23%. Nifty 50 settled at 21,731.40, lower by 47.30 points or 0.22%. Also, Bank Nifty shed 216.30 points or 0.45% to close at 48,292.25.
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