BSE Sensex declined 486 points or 0.67% to 71,785 and Nifty50 fell 107 points or 0.49% to 21,634 at 1:50 pm on Tuesday. Nifty Bank fell 400 points to 47,833 and Nifty Midcap slipped 140 points to 46,332 in noon trade today.
Kay Cee Energy & Infra IPO displayed a robust response from investors today after it got subscribed 591 times on the final day of bidding. Participants purchased 127 crore shares against the offer size of 21.5 lakh shares.
Shares of Lemon Tree Hotels Ltd gained 12% in trade today as Motilal Oswal assigned buy call to the stock with target price of Rs 150 apiece.
Small cap company from Logistics sector, Allcargo Logistics Ltd stock gained over 12% intraday today as shares traded ex-bonus in the proportion of 3:1.
Among the prominent gainers on the Nifty were Coal India, Tata Motors, Tata Consumer, Bharti Airtel, and Nestle India. On the flip side, Eicher Motors, UltraTech Cement, Axis Bank, Infosys, and Kotak Mahindra Bank emerged as the major losers during the trading session. The market showcased a mixed performance, with specific stocks exhibiting contrasting trends in the early part of the day.
On January 2nd, Nifty's support levels are expected to be in the range of 21,500 to 21,700.
Notably, the Japanese market is closed for trading due to a powerful earthquake that led to tsunami warnings across its region. Asian shares showed dull trading.
In the previous session, after trading in the red for the most of the day, Sensex and Nifty made a narrow escape and ended in the green. Sensex closed at 72,271.94, up by 31.68 points or 0.04%. While 21,741.90 finished at 21,741.90, up by 10.50 points or 0.05%.
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Jan 02, 2024, 3:46 pm IST
Nifty Ends 0.35% In Red, While Sensex Falls 0.53% On Second Day of 2024
Nifty 50 shares lose more than 75 points to reach 21,665 and the top 30 shares of Sensex plunge more than 375 points, currently stable at 71,832. Top gainers were recorded as Divis Lab, Adani Ports, and Sun Pharma climbing 3.09%, 2.92%, and 2.775 respectively. On the other hand, Nifty Pharma today gained the highest fund inflows, rising more than 2.4% and the highest loss of 1.16% was witnessed in Nifty Auto. Coal India and Tata Steel gained the highest volume in the live session today.
Jan 02, 2024, 3:21 pm IST
Rupee Losses Against USD & Pound, While Gains Against Euro
USD Futures maturing January 5th have gained today by 0.11%, floating around Rs. 83.32/-, falling from the day's high at Rs. 83.36/-. GBP January Futures are currently trading at Rs. 106.04/-, falling back from a high point of Rs. 106.34/-. On the other hand, the Euro loses strength against the Rupee by 0.19%, currently at around Rs. 91.85/-.
Jan 02, 2024, 2:53 pm IST
Gold Climbs Today In India Despite New CEPA, Silver Gains Rs. 300/-
Safe-haven metals gain momentum as capital markets around the globe are facing uncertain forecasts in the first week of 2024. Today the average 24-carat gold prices in India have increased by Rs. 220/- to reach Rs. 64,090/- per 10 grams. MCX Gold Futures maturing this February today is trading around Rs. 63,596/-, a hike of 0.44% or Rs. 276/- since Monday's closing. US Spot Gold floats around $ 2,075/- per ounce while Spot Silver is trading at $ 24.08/- per ounce.
Jan 02, 2024, 2:33 pm IST
Sampanna Utpadan India Limited Appoints New CDO
The Board of Directors of Sampanna Utpadan has appointed Mr. Aanjanayae Agarwal as the Chief Development Officer of the Company with effect from January 2, 2024. He is the son of the Managing Director, Mr. Sachin Agrawal, and holds a Bachelor's Degree in Commerce. He is a young and dynamic professional having experience in the Finance Sector and Market operations. He
possesses in-depth knowledge of customer communication, sale techniques, financing, and negotiation. He also has experience in formulating Digital Market Strategy and conducting financial analyses to assess the company's performance and identify areas for improvement.
Jan 02, 2024, 2:15 pm IST
Union Minister For Heavy Industries Inaugrates Newly Constructed BHEL Sadan
Hon’ble Union Minister of Heavy Industries, Dr. Mahendra Nath Pandey inaugurated the newly constructed BHEL Sadan on BHEL Day. The building has a 30-kW solar power system, reflecting BHEL's commitment to move further towards green energy. Recalling BHEL’s contribution towards creating an Aatmanirbhar Bharat, since its inception, Dr. Pandey added that, BHEL is not only striving towards making India self-reliant in the fields of energy and infrastructure but is also making significant contributions in
the field of defense and space.
Jan 02, 2024, 1:14 pm IST
Lemon Tree Hotels Rises 12%
Motilal Oswal has recommended investors to buy shares of mid cap Hotels & Resorts industry stock Lemon Tree Hotels Ltd with target price of Rs 150 apiece. Current market price of Lemon Tree share on BSE is Rs 132.55 per share.
Jan 02, 2024, 12:13 pm IST
Allcargo Logistics Gains 12%
BSE Sensex witnessed a decline of 518 points or 0.72% to 71,753 and Nifty50 fell 130 points or 0.60% to 21,611 at 12:10 pm on Tuesday. Nifty Bank fell 344 points to 47,890 and Nifty Midcap slipped 301 points to 46,171 in trade today. Small cap company from Logistics sector, Allcargo Logistics Ltd stock gained over 12% intraday today as shares traded ex-bonus in the proportion of 3:1. Current market price of Allcargo Logistics share on BSE is Rs 92.35 per share with intraday surge of 11.94%. Allcargo Logistics shares offered shareholders return of 39% in last 1-month and soared 170% in last 3-years.
Jan 02, 2024, 12:00 pm IST
Gensol Engg Board Approves Fund Raise Up To Rs 300 Crore
The Board of Directors at Gensol Engineering has granted approval for the raising of funds up to Rs 300 crore through various channels, such as public issue, preferential allotment, private placement, and one or more qualified institutional placements of equity shares (QIP).
Jan 02, 2024, 11:37 am IST
UltraTech Cement Sales Volume Rise 6% YoY In Q3 FY24
UltraTech Cement has announced a 6% year-on-year (YoY) increase in its consolidated sales volume for the third quarter of the fiscal year 2024. The total consolidated sales volume reached 27.32 million tonnes, showing a 2% quarter-on-quarter (QoQ) growth. Notably, the domestic sales volume in India witnessed a 5% YoY rise, reaching 26.06 million tonnes, and a 2% QoQ increase.
Jan 02, 2024, 11:02 am IST
SRF Climbs 1% On Commissioning Of Aluminium Foil Manufacturing Facility
SRF Ltd witnessed a 1% surge in its shares during early trade on January 2, subsequent to the inauguration of an aluminum foil manufacturing facility by its wholly-owned subsidiary, SRF Altech Limited, with an investment of Rs 536 crore. As of 9:35 am, SRF stocks were valued at Rs 2,484 each on the NSE.
SRF established the wholly-owned subsidiary, SRF Altech, to construct a state-of-the-art manufacturing facility for aluminum foil production. The successful commissioning of this facility, with a capital outlay of Rs 536 crore, signifies SRF's entry into the lucrative sector of aluminum foil manufacturing. The subsidiary's establishment and operational status align seamlessly with SRF's broader initiatives for expanding its business portfolio.
Jan 02, 2024, 10:35 am IST
APL Apollo Tubes Records 0.2% YoY Drop In Sales Volume In Q3FY24
In Q3FY24, APL Apollo Tubes witnessed a marginal decrease in sales volume, reporting 6,03,659 tonnes, which is a 0.2% decline compared to the 6,05,049 tonnes achieved in Q3FY23. Moreover, there is a notable 10.5% decrease in sales volume compared to the 6,74,761 tonnes recorded in Q2FY24. The dip in sales volume during Q3FY24 is attributed to channel de-stocking, driven by the anticipation of an imminent correction in steel prices.
Jan 02, 2024, 10:13 am IST
Coal India Shares Surge by Over 2% for the Second Consecutive Day
Coal India shares have entered the green for the second consecutive day, registering a gain of over 2%. The company has achieved two-thirds of its production target within the initial nine months of the year. The month of December witnessed a notable 8.2% growth in total production, reaching 71.9 million metric tons (MT). Looking at the broader picture, overall production from April to December marked an impressive 11% year-on-year increase, amounting to 531.9 MT.
Jan 02, 2024, 10:09 am IST
Market Trades With Cuts; Nifty Slides Below 21,650 Mark
On January 2, Indian indices commenced the day on a neutral stance, with the Nifty hovering around 21,750. The Sensex reflected a decline of 119.39 points or 0.17%, settling at 72,152.55, while the Nifty experienced a slight downturn of 21.90 points or 0.10%, closing at 21,720. The market observed 1661 shares advancing, 583 shares declining, and 98 shares remaining unchanged.
Jan 02, 2024, 8:45 am IST
Asian Market
Asian market traded subdued in the start of 2024. Notably, the Japanese market is closed for trading due to a powerful earthquake that led to tsunami warnings across its region.
Jan 02, 2024, 8:01 am IST
Attractive Tata Stock
Tata Group-backed automobile flagship company, Tata Motors emerged among the biggest gainer on the New Year's Day, January 1, 2024, on BSE and NSE. This auto giant was the most bought stock in the large-cap basket on these exchanges in 2023. It not only climbed the ladder to become part of Nifty 50 stocks, but it also doubled and gave multi-bagging returns. Currently, the stock trades above brokerages' target prices, and the consensus analysts recommend buying. Stock traders and experts on X handle eyes target prices in the range of Rs 850 to Rs 1000 for Tata Motors.
Jan 02, 2024, 7:58 am IST
PSU Bank Stock To Buy
PSU bank stock, Bank of India, has continued to outperform on the backdrop of sustained improvement return ratio profile aided by strong asset quality trends, said brokerage Sharekhan in its latest research note. This PSU stock which trades over Rs 100 is currently affordable with room for more upside in the near term. Sharekhan has set a target price of Rs 135 on the bank's stock, implying over 19% gains in the near term compared to the current market price.
Jan 02, 2024, 7:57 am IST
Hotel Stock To Buy
High-end hotel chain in India, Chalet Hotels has been on a a leisure growth path. That is why, brokerage Sharekhan reiterated a Positive stance on the company with a potential upside of 15% over the next 12 months. In a year, Chalet Hotels' share price has zoomed by nearly 94% on BSE as of now.
Jan 02, 2024, 7:53 am IST
Market Previous Performance
On January 1st, after trading in the red for the most of the day, Sensex and Nifty made a narrow escape and ended in the green. Sensex closed at 72,271.94, up by 31.68 points or 0.04%. While 21,741.90 finished at 21,741.90, up by 10.50 points or 0.05%. Media, FMCG, IT, oil and gas, healthcare, realty, and PSU bank shares lifted the performance.
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