Indian market pulled back from their gaining spree with Sensex and Nifty 50 ending lower. Heavyweight stocks like Reliance Industries, Sun Pharma, IndusInd Bank, Titan, and Maruti Suzuki dragged the benchmarks.
Sensex ended at 69,551.03, down by 377.50 points or 0.54%, while Nifty 50 finished at 20,906.40 lower by 90.70 points or 0.43%.
The 50-scrip benchmark turned bearish after hitting a new lifetime high of 21,037.90.
Talking about the market performance, Vinod Nair, Head of Research at Geojit Financial Services said, "Following the recent impressive surge, the Nifty50 has undergone a consolidation phase today due to anticipated elevated November inflation in India, driven by rising food prices, which may potentially delay RBI policy cuts. In contrast, the US inflation outlook remains stable, which could influence the upcoming US Fed policy."
Nair added that the Nifty Mid and Small indices, with robust rallies of 42% and 49% on a YTD basis, now carry a 25% premium to their long-term averages, signalling potential valuation concerns. Though the domestic growth outlook remains strong, the risk of EL-Nino is expected to keep the market under pressure.
Traders will observe the India and US CPI inflation data scheduled later in the day. Also, focus is on US Federal Reserve meeting later this week.
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Dec 12, 2023, 2:31 pm IST
MCX Commodities Prices
At MCX, gold futures with February expiry were up by Rs 218 to 0.4%. The bullion traded in the range of Rs 61,232 to Rs 61,415 apiece. Meanwhile, MCX silver futures with March expiry surged by Rs 270 or 0.4% to Rs 61,335 per 1 kg. Silver ranged from Rs 61,232 to Rs 61,415.
Dec 12, 2023, 2:30 pm IST
Silver Prices
Silver price in 1 kg dived by Rs 100 to Rs 75,700 on Tuesday as compared to Rs 75,800 on the previous day. As for 1-gram to 100-grams of silver, prices were lower by Rs 0.10 to Rs 10.
Dec 12, 2023, 2:30 pm IST
Gold Prices
At retail stores in India, 24-carat gold is down by Rs 220 to Rs 61,910 per 10 grams on Tuesday as against Rs 62,130 per 10 grams of the previous day. Meanwhile, 22-carat gold slipped by Rs 200 to Rs 56,750 as against Rs 56,950 per 10 grams of the previous day. 18-carat gold in 10 grams is lower by Rs 170 to Rs 46,430 against Rs 46,600 of the previous day.
Dec 12, 2023, 2:02 pm IST
Shree Oswal Seeds and Chemicals Shares Gain Over 4% As Company Likely To Consider Bonus Shares On Dec 18
Today, the share price of Shree Oswal Seeds and Chemicals Limited was trading 4.96% higher at Rs 65.55 per share at 1:53 pm IST on NSE. The company informed via an exchange filing on December 8, 2023 that a meeting of the Board of Directors of the Company is scheduled to be held on Monday, December 18, 2023 at the Registered Office of the Company to consider and discuss the matter of issue of bonus shares subject to the approval of shareholders of the company
Dec 12, 2023, 1:33 pm IST
Mishra Dhatu Shares Gain Over 4% On Securing Order Worth Rs 357 Crore
The share price of Mishra Dhatu Nigam Ltd surged 4.14% at Rs 410.00 per share at 1:29 pm IST on Tuesday after the company informed that it secured an order of Rs 357 crore.
The company said that with this, the order booking position for FY 2023-24 (as of date) is around Rs 1,100 crore. The open order position of MIDHANI as of date is around Rs 1,750 crore.
Dec 12, 2023, 12:55 pm IST
Jammu & Kashmir Bank Shares Hit New 52-Week High After Private Lender Launches QIP To Raise Rs 750 Cr
The share price of Jammu & Kashmir Bank shares rose almost 12% to hit a new 52-week high of Rs 139.9 in the intraday trading on Tuesday after the bank launched a Qualified Institutional Placement (QIP) in a bid to raise Rs 750 crore.
Dec 12, 2023, 12:12 pm IST
Yes Bank Shares Soar 7% Today
The share price of Yes Bank Ltd gained 6.71% at 12:07 pm IST on Tuesday after there was news that the private lender is looking for buyers for its corporate and retail loans with outstanding debt of Rs 4,234 crore. According to a news report, Yes Bank has invited expressions of interest (EoI) for the proposed sale of non-performing assets (NPAs) worth Rs 4,234 crore.
Dec 12, 2023, 9:52 am IST
Dixon Tech Rises In Morning Trade, Becomes Top Midcap Gainer
Dixon Tech has secured the top spot as the Nifty Midcap gainer, registering a notable increase of 5.67%. The electronics manufacturing services company announced on Monday that its wholly-owned subsidiary, Padget Electronics, has successfully secured a manufacturing contract with the global technology giant Lenovo. The upcoming definitive agreement will solidify Padget Electronics' role as the preferred manufacturing partner for Lenovo's IT hardware products.
Dec 12, 2023, 9:49 am IST
Market At Record High, Nifty And Sensex Continue Adding To Previous Gains
Shortly after the commencement of today's trading session, Nifty 50 reached a new peak of 21,031.5, while Sensex surged to a record high of 70,024.68.
Dec 12, 2023, 9:22 am IST
Market Opens With Healthy Gains, Nifty Starts Above 21,000
Indian indices opened higher on December 12, buoyed by positive global signals, with the Nifty surpassing the 21,000 mark. The Sensex registered a gain of 48.05 points, or 0.07%, reaching 69,976.58, while the Nifty rose by 21.70 points, or 0.10%, reaching 21,018.80. Market activity saw 1,710 shares advancing, 403 shares declining, and 96 shares remaining unchanged.
Dec 12, 2023, 9:16 am IST
Rupee Opens Mildly Higher Against Dollar
The Indian rupee started Tuesday with marginal gains, opening at 83.35 per dollar, a slight improvement from the previous day's closing rate of 83.39.
Dec 12, 2023, 9:07 am IST
Sun Pharma Raises Bid to Secure Remaining Taro Shares
Sun Pharma, India's leading pharmaceutical company, has increased its offer price for the acquisition of the outstanding shares of its US subsidiary, Taro Pharma. The revised proposal, disclosed on Tuesday, outlines Sun Pharma's intention to acquire all remaining shares of Taro, excluding those held by the company or its affiliates, at per share in cash. This marks an increase from the earlier offer of per share.
Today, attention is on Infosys as the company undergoes significant changes in its financial leadership. Jayesh Sanghrajka has been appointed as the Chief Financial Officer (CFO) of Infosys, effective from April 1, 2024. Meanwhile, Nilanjan Roy has tendered his resignation as the CFO, effective March 31, 2024.
Dec 12, 2023, 8:36 am IST
Crude Hovers At Five-Month Lows Amid Overcapacity Apprehensions
Oil prices remained stable near their lowest point since June, as concerns over oversupply took center stage following OPEC+'s commitment to extend and intensify production cuts, which failed to counteract a decline in prices. West Texas Intermediate held above per barrel, while the global benchmark Brent lingered around . Doubts regarding the complete adherence of alliance members to voluntary output reductions, coupled with a surge in production from non-OPEC contributors, notably the United States, have heightened concerns about an expanding surplus.
Dec 12, 2023, 8:31 am IST
Asian Markets Show Upward Momentum Ahead Of US Inflation Data
Asian markets experienced an upswing as investors awaited crucial US economic data and insights from major central bank meetings that could shed light on potential interest rate adjustments in the coming year. Advancements were observed in stock benchmarks across Japan, South Korea, and Australia. Meanwhile, futures for Hong Kong indicated a strong opening on Tuesday.
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