Stock Market Live Updates: Sensex Gains 188 Points, Nifty Above 21,500; India Shelter Lists At 25% Premium

BSE Sensex gained 188 points or 0.26% to 71,624 and NSE Nifty soared 59 points or 0.31% to 21,512 at 11:43 am on December 20, 2023 amid a rally in IT and consumer stocks. Nifty Bank rose 49 points to 47,920 and Nifty Midcap gained 275 points to 45,787 at 11:45 am today.

The leading gainers from the pack of Sensex include shares of Wipro, Reliance, TCS, Bajaj Finserv, and UltraTech Cement. The top laggards from the Sensex are HCL Tech, ICICI Bank, and Axis Bank.

Shares of India Shelter Finance made their debut on NSE at Rs 620, a premium of 25% (Rs 127) in today's session. On BSE, India Shelter was listed at Rs 612.7, up 24% over the issue price of Rs 493.

Tuesday's trading session saw the Nifty experiencing a rollercoaster, falling to an intraday low of 21,339 before making a spirited recovery, briefly crossing the 21,500 mark in the final hour of trade. However, the absence of support from major index heavyweights, except for Reliance Industries, prevented a sustained breakthrough.

Banking stocks, a significant driver of market movement, failed to provide the necessary impetus in the last two sessions, contributing to the Nifty's struggle around the 21,500 level. The upcoming weekly options expiry session on Wednesday is expected to provide some clarity, especially for the banking index, which could subsequently influence the broader Nifty.

In the spotlight ahead of Tuesday's trading session are several stocks poised for potential market impact:

Accenture reported a 3% growth in US Dollar revenue and a 1% growth in Constant Currency. The company maintains its financial year 2024 constant currency growth outlook between 2% and 5%.

IndusInd Bank plans to sell up to 2.86% equity via block deals in Nippon AMC, with a floor price of Rs 426.6, representing a 5% discount to Tuesday's closing price. The offer size for the block deal is pegged at Rs 762 crore.

Astral promoters are looking to sell 2-3% equity via block deals, potentially fetching Rs 1,000 crore - Rs 1,500 crore. The last promoter stake sale in 2019 involved a 2.4% equity sale.

Blackstone is likely to sell a 23.5% stake in a clean-out trade in Embassy Office Parks REIT, with a floor price fixed at Rs 310 per share, aiming to fetch $833 million.

JK Tyre launches a Qualified Institutional Placement (QIP) to raise funds, with a floor price of Rs 358.96, representing a 5.2% discount from Tuesday's closing price.

Varun Beverages is set to acquire The Beverage Company in South Africa for Rs 1,320 crore and sign an MoU with the Jharkhand government for a manufacturing plant in Patratu with an outlay of Rs 450 crore.

BPCL plans to set up a Polypropylene unit project at its Kochi refinery with a cost of Rs 5,044 crore. UPL board meeting on December 22 to consider fundraising. RVNL emerges as the lowest bidder for Varkala Sivagiri station in Kerala at a project cost of Rs 124 crore.

Delhi High Court orders removal of the "fraud" tag from Religare Finvest. CCI approves the acquisition of majority shareholding in Glenmark Life by Nirma. Mohit Joshi takes charge as MD & CEO of Tech Mahindra.

Meanwhile, in global markets, US stocks rose, with the S&P 500 edging closer to its record high. The Nasdaq Composite closed above the 15,000 level for the first time since January 2022, and the Dow set a fresh record high. In Asia, markets were positive, with Japan stocks extending gains, and Australia's S&P/ASX 200 hitting 10-month highs. Hong Kong's Hang Seng and Japan's Nikkei 225 also experienced gains.

The GIFT Nifty is trading with a premium of more than 80 points from Nifty Futures Tuesday close, indicating a gap-up opening for the Indian market. As investors navigate through market uncertainties, the upcoming IPO listing of DOMS Industries and the weekly options expiry session are expected to provide further insight into market trends.

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Dec 20, 2023, 3:36 pm IST

Indian Markets Closing Update

Markets have dived more than 1000 points in a single session, while Nifty is more than 345 points. Sensex Ends at 70,506 points and Nifty closes at 21,150 range. Top gainers for today's session are ONGC, Tata Consumer, and Britannia rising 2%, 1.2%, and 0.28% respectively. The top Losers are Adani Ports in red by 6.2%, Adani Enterprise falling 5.6%, and Tata Steel losing 4.84% today. ONGC and Tata Steel grabbed the highest volume on Wednesday's session.

Dec 20, 2023, 1:54 pm IST

Greaves Retail unveils its First-ever ‘master distributor outlet’ for AutoEVMart in Chennai

Greaves Cotton Limited's Greaves Retail, a subsidiary, pioneers a new approach to market access with the opening of Chennai's first AutoEVMart master distributor shop. The store, which is located on G.N.T. Road in Thandalkalani Village, Puzhal, was opened in the presence of senior leadership of Greaves Retail. By tackling key problems like transportation costs and Minimum Order Quantities (MOQ) for dealers, this innovative idea seeks to revolutionise the electric 3-wheeler market and reinforce Greaves Retail's dedication to industry development.

Dec 20, 2023, 1:12 pm IST

Thomas Cook India Wins ‘MICE Travel Operator of the Year’ At The Economic Times Travel & Tourism Annual Awards

At the Economic Times Travel & Tourism Annual Awards, Thomas Cook (India) Limited was given the "MICE Travel Operator of the Year" award. Top executives from the travel and tourism sector gathered on one platform for the second edition of The Economic Times Travel and Tourism Annual Awards. The MICE Team of Thomas Cook was honoured for their exceptional performance throughout the previous 12 months. The Indian government chose the company to oversee a number of high-profile events, including the G20 Summit in India, which involved 41 events spread across 31 cities; the 37th National Games in Goa, where they were solely responsible for handling lodging, food, and transportation for about 17,000 guests; and Khelo India 2023, which involved 20,500 customers.

Dec 20, 2023, 12:46 pm IST

MMTC Extends Tenure of Director Shri J. Ravi Shanker

“The Competent Authority has approved the extension of tenure of Shri J. Ravi Shanker as Director (Marketing), Minerals & Metals Trading Corporation of India Limited (MMTC Ltd.) under the Department of Commerce for a period from 04.07.2023 to 31.07.2025 (i.e. upto the date of his superannuation from service) or until further orders, whichever is earlier,” said MMTC in a regulatory filing on Wednesday.

Dec 20, 2023, 12:25 pm IST

Nazara Technologies Unveils Partnerships To Publish Five Innovative Games in India

Nazara Technologies Limited has announced collaborations with four renowned Indian game development companies. Nazara's new publishing company includes this effort, which aims to promote the "Make in India" concept in the game industry. Nazara plans to release 20 games in the next 12 to 18 months, investing INR 1 Crore to INR 3 Crores on each one, thanks to large publication expenditures.

Dec 20, 2023, 11:57 am IST

Motisons Jewellers IPO: GMP Declines, Issue Subscribed 60 Times On Last Day

The initial public offer (IPO) of Motisons Jewellers subscribed 60 times on the last day of the bidding process on Wednesday, led by heavy bidding by retail and non-institutional investors. But, the GMP of the IPO declined from 182% yesterday to 136% today over the issue price.

Dec 20, 2023, 11:55 am IST

Gold, Silver Prices Today, Dec 20: Yellow Metal Prices Jump In India

Gold prices witnessed a surge in India today as US dollar and Treasury yields slipped. Investors are also waiting for US economic data due this week on Friday that may offer higher clarity on the Fed’s interest rate path. Spot gold added 0.6% to ,039.67 an ounce. U.S. gold futures gained 0.81% to ,038.40 an ounce, according to Reuters report. US Treasury yields edged lower but held above multi-month lows reached last week as investors continued to monitor comments from Federal Reserve officials for indications on when the US central bank is likely to begin slashing interest rates. Treasury yields have declined since Fed Chair Jerome Powell took an unexpectedly dovish tone on Wednesday, added the Reuters report. The price of 10 grams of 22 carat gold in India today is Rs 57,750 after the surge of Rs 350 while price of 10 grams of 24 carat yellow metal in the country is Rs 63,000 after the gain of Rs 380. The price of 100 grams of 22 carat yellow metal in India is Rs 5,77,500 after the gain of Rs 3500. Cost of 100 grams of 24 carat gold is Rs 6,30,000 after the surge of Rs 3800. Meanwhile, prices of silver also saw a rise in India. The price of 1 kg of silver in India today is Rs 78,500 after the gain of Rs 1000.

Dec 20, 2023, 11:54 am IST

Varun Beverages Jumps 11% On South African Deal

Shares of large cap FMCG company Varun Beverages witnessed a surge of 10.94% intraday today after the company informed BSE via a regulatory filing that it seeks to acquire a 100% stake in South-Africa based The Beverage Company along with its wholly-owned subsidiaries BevCo. Varun Beverages shares BSE rallied 19% in last 1-week and soared 96% year-to-date. Current market price of Varun Beverages share on BSE is Rs 1300.25 apiece with intraday gain of 10.94%.

Dec 20, 2023, 11:01 am IST

Rupee Continuous To Resist Against USD. Euro & GBP Gains Against INR

The USD/INR Futures expiring this December are trading at Rs. 83.15/- range amidst robust domestic capital market performance. This week, the dollar's performance is low against almost all other major currencies. In contrast, INR loses value against Euro by falling more than 0.2% at Rs. 91.18/- while GBP stays ahead by 0.11% or 12 paise to reach Rs. 105.76/- for December Futures.

Dec 20, 2023, 10:47 am IST

India Precious Metal Shines Brightly Today

The average gold price in India today for 10 grams of 24-carat gold is Rs. 63,000/-, which stays around Rs. 1,200/- away from the all-time high. The prices have jumped by Rs. 380/- per 10 grams as international spot gold also picked up by $ 15/- in yesterday's session, currently at $ 2,040/- per ounce. Silver prices also climbed By Rs. 1000/- to reach Rs. 78,500/- or Rs. 2,000/- away from record-high prices posted early this month.

Dec 20, 2023, 10:35 am IST

Astral Shares Surges Amidst Substantial Block Deal

Astral, a building material company listed on the exchange, on 20th December 2023 gained a block deal consisting of a total of 48.6 lakh shares for Rs. 1,889/- per share. The stake of 1.76% is expected to be sold by the promoters of the company who hold more than 55% of total shares. The current market price of Astral is 1.79% in green or Rs. 34/- higher at Rs. 1,943/-.

Dec 20, 2023, 10:15 am IST

Doms Industries Begins Its Live Trading Journey, Mahindra Logistics Disinvest From Associate Company

Doms Industry shares are available for live trading for retail investors, the stock opened at Rs. 1,400/- and stabilises in the same range so far. The current prices have fallen by Rs. 7/- or 0.5%, trading at Rs. 1,393/-. Mahindra Logistics sold the entire stake held by the company in Transtech Logistics Private Limited, an associate of the Company for the sale/transfer of 39.79% stake held.

Dec 20, 2023, 10:05 am IST

HCLTech Announces Ransomeware Incident In Confined Cloud Environment

HCLTech has announced a ransomware incident in a confined cloud environment for one of its projects, leading to increased attention on its shares on December 20. The IT services firm clarified that the incident has not affected the overall network. Emphasizing the high priority placed on cybersecurity and data protection, HCL Tech stated that a thorough investigation is currently in progress, involving collaboration with relevant stakeholders to determine the root cause and implement any necessary remedial measures, as mentioned in an exchange filing.

Dec 20, 2023, 9:30 am IST

Market Opens At Record Highs, Nifty Hovers Around 21,550 Mark

On December 20, Indian indices commenced the day by reaching new record highs, with the Nifty hovering around 21,550. The Sensex showed a gain of 351.89 points or 0.49%, reaching 71,789.08, while the Nifty rose by 105.40 points or 0.49% to 21,558.50. Out of the total, 1826 shares advanced, 369 shares declined, and 93 shares remained unchanged. Wipro, LTIMindtree, Infosys, NTPC, and Nestle emerged as major gainers on the Nifty, with Maruti Suzuki being the sole loser.

Dec 20, 2023, 9:11 am IST

Market Outlook Today

Mr. Aditya Gaggar, Director of Progressive Shares said, "On 19th December, the markets experienced extreme swings on both sides and finally settled the day higher at 21,453.10. The Index has made a long legged DOJI candlestick pattern which shows indecisiveness between the bulls and bears. As of now 21,330-21,500 is acting as a congestion zone but a strong signal from GIFT Nifty indicates a high probability of violating the mentioned range. On the lower timeframe, the Auto sector is showing a sign of exhaustion and in the case of correction, one should use the dip to accumulate good quality stocks. The FMCG sector has given a breakout but we will wait for a confirmation. Our stance on PSU Banking will remain positive (preferred bets: SBIN and CanBk). The trend of Railway stocks is bullish and one can opt to buy on dip strategy."

Dec 20, 2023, 9:10 am IST

Rupee Opens Unhanged Against US Dollar

The Indian rupee started the day unchanged at 83.18 per dollar, matching the previous day's closing rate of 83.18.

Dec 20, 2023, 9:08 am IST

DOMS Industries To List On Exchanges Today

DOMS Industries, the manufacturer of stationary and art products, is set to debut on the stock exchange. Market expectations are for a premium of 60-65%. Although the company's three-day IPO, valued at Rs 1,200 crore, concluded on Friday, only Rs 350 crore was raised through the IPO, with the remainder attributed to an Offer for Sale (OFS).

Dec 20, 2023, 9:07 am IST

JK Tyre Initiates QIP To Secure Funds

Today, the spotlight is on JK Tyre as the company initiates a Qualified Institutional Placement (QIP) to secure funds. The floor price is set at Rs 358.96, representing a 5.2% discount from Tuesday's closing price. The company retains the option to provide a 5% discount on the floor price at its discretion.

Dec 20, 2023, 9:06 am IST

Varun Beverages To Acquire The Beverage Company In South Africa

Today, attention is on Varun Beverages, which is poised to acquire The Beverage Company in South Africa for Rs 1,320 crore. Additionally, the company has entered into a Memorandum of Understanding (MoU) with the Jharkhand government to establish a manufacturing plant in Patratu, with an investment of Rs 450 crore.

Dec 20, 2023, 8:50 am IST

Crude Prices Surge For 3rd Consecutive Day

Oil prices continued to climb for a third consecutive day amid growing concerns about potential disruptions in Red Sea shipping, affecting global trade. The West Texas Intermediate contract for February saw a modest increase, trading above per barrel, following a 3% rise over the previous two sessions. On Tuesday, Brent approached per barrel. The United States and its allies are contemplating military actions against Iran-backed Houthi rebels in Yemen, acknowledging that a previously announced task force may be insufficient to eliminate the perceived threat.

Dec 20, 2023, 8:48 am IST

Asian Stocks Higher In Early Trade Tracking US Indices

Asian stock markets rose in response to Wall Street's continued rally on Tuesday, as traders disregarded policymakers' warnings about tempering expectations for Federal Reserve rate cuts. South Korea and Japan witnessed gains at the market open, while Australia's equity benchmark also saw positive movement. Early indications for Hong Kong futures suggested significant gains. On Tuesday, the Nasdaq 100 and Dow Jones Industrial Average achieved record highs, and the S&P 500, nearing a record, added 0.6%.