Stock Market Live Updates: Swiggy Share Price Rises Nearly 6%
Swiggy Ltd. share price rose nearly 6% on Tuesday after CLSA started coverage on the company.
BofA Sees Nifty 50 At 26,500 In Calendar Year 2025
BofA’s target for the NSE Nifty 50 at 26,500 for the calendar year 2025. The Indian benchmark may underperform US equities in dollar terms. Concerns about India’s rich valuations remain.
Nifty, Sensex Open With Marginal Gains As Infosys, L&T Share Prices Rise
The NSE Nifty, and BSE Sensex opened with marginal gains as Infosys Ltd. and Larsen & Toubro Ltd. share prices rose. As of 09:17 a.m., the Nifty 50 was trading 4.85 points or 0.02% down at 24,614.15, and the Sensex was 6.34 points or 0.01% down at 81,502.12.
“We are of the view that, the current market texture is non directional hence level based trading would be the ideal strategy for the day traders. For the short term 24,500-24,450/81,100-80,900 would be the immediate support zone while 24,700-24,775/81,800-82,100 could act as a crucial resistance area for the traders. However, below 24,450/80,900 traders may prefer to exit out from trading long positions,” said Shrikant Chouhan, head, equity research, Kotak Securities.
“The U.S. markets came under some profit booking and ended lower whereas the Chinese markets are higher on account of more economic stimulus. Nifty is likely to consolidate and trade between 24,200 and 24,800 with a slight weakening bias,” said IFA Global Research Academy.
Bank Nifty outperformed Nifty yesterday by a think margin and is likely to do so in the near term. We expect it to trade in a range of 52,900 and 53,900, it said.
Mahindra & Mahindra Ltd., Reliance Industries Ltd., Tata Consultancy Services Ltd., HDFC Bank Ltd., and Maruti Suzuki India Ltd. weighed on the index.
Infosys Ltd., ITC Ltd., HCLTech Ltd., Bajaj Finance Ltd., and Shriram Finance Ltd. added to the Nifty 50 index.
On NSE, six sectors advanced, four declined, and two remained largely flat out of 12. The NSE Nifty Auto declined the most, and the NSE Nifty Realty rose the most.
Broader markets were also trading with little change. The BSE Midcap and Smallcap indices were trading 0.02% and 0.12% higher, respectively.
On BSE, 12 sectors declined, one remained flat, and eight advanced out of 21. The BSE Utilities declined the most, and the BSE Realty rose the most.
The market breadth was skewed in favour of buyers. Around 1,951 stocks advanced, 992 stocks declined, and 123 stocks remained unchanged on BSE.
Stock Market Live Updates: Nifty, Sensex Higher At Pre–Open
At pre–open, the NSE Nifty 50 and BSE Sensex were trading 0.14% and 0.07% higher, respectively.
Yield On The 10-Year Bond Declines
The yield on the 10-year bond declined 2 bps to 6.70%. It closed at 6.72% on Monday, according to data Bloomberg.
Rupee Opens At Record Low Against US Dollar
Rupee weakened by 6 paise to open at a record low of 84.79. It closed at 84.73 on Monday, according to data Bloomberg
Stock Market Live: Nuvama On India Cement
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Nuvama on Indian Cement Sector: Reiterates Neutral Rating, Top Pick JK Cement
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Nov 2024 cement prices rose in East & North India, flat in other regions
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Dec 2024 sees further price hikes across many regions
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Sustainability of cement prices hikes yet to be seen
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Nov 2024 cement demand subdued due to festivals, labour shortage, extreme weather
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Cement demand likely to pick up in Dec’24 on capex likely to gather traction
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Believe cement prices have bottomed out
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Note that chances of substantial price hikes in near term remain bleak
IPO Update: Continuum Green Energy Files DRHP
Continuum Green Energy has filed a draft paper for its Rs 3,650 crore IPO, which will include a fresh issue of shares worth Rs 1,250 crore and an Offer for Sale worth ₹2,400 crore, according to its Draft Red Herring Prospectus.
Oil Prices Declines In Asia Session
Oil future prices declined in Asia session. The prices jumped over 2% on Monday as Syria’s President Bashar al–Assad ousted which fuelled geopolitical risk.
The brent crude was trading 0.32% down at $71.91 a barrel as of 08:12 a.m.
Meanwhile, the oil’s supply outlook improved after China top leader said they will introduce more stimulus in the next year.
Stock Market Live Updates: Citi Research On New RBI Governor
Strong fiscal and monetary policy coordination is likely to be continued.
Market focus to be on MPC’s assessment of growth-inflation balance, if it will undergo any significant change
Maintain view of a 25 bps rate cut
Will reassess terminal repo rate view of 6% based on February MPC
New governor’s view on managing macro prudential policies and forex & rates markets to be watched
Expect broad continuity on these fronts
Most Asia Stocks Rise As China Plans To Extend Stimulus
Most stocks in Asia were trading higher defying losses on Wall Street. Top Chinese leaders said they will come up with more stimulus and benign monetary policy next year.
As of 7:32 a.m., the Nikkei 225 and KOSPI were trading 0.14% and 2.16% higher, respectively. The S&P ASX was trading 0.58% down before the Reserve Bank of Australia’s monetary policy decision.
US Stocks Close Lower As Tech Stocks Weigh
The stocks closed lower as a decline in Nvidia Corp’s share weighed on overall technology stocks in the US.
The Dow Jones Industrial Average and S&P 500 closed 0.54% and 0.61% lower, respectively. The Nasdaq Composite ended 0.62% down.
GIFT Nifty Near 24,700; BEL, JSW Steel, Vodafone Idea Share Prices In Focus
The GIFT Nifty was trading near 24,700 in early trade on Tuesday. Bharat Electronics Ltd., JSW Steel Ltd., and Vodafone Idea Ltd. share prices are likely to react today.
The GIFT Nifty was trading 0.04%, or 9.5 points, higher at 24,793.00 as of 6:44 a.m.
The benchmark equity indices ended the first session of the week on Monday on a subdued note as Reliance Industries Ltd. and fast-moving consumer-goods stocks dragged them the most.
The NSE Nifty 50 ended 58.80 points or 0.24% lower at 24,619 and the BSE Sensex closed 200.66 points or 0.25% down at 81,508.46. During the day, both the Nifty and Sensex had fallen 0.4% each.
. Read more on Markets by NDTV Profit.The Nifty 50 and Sensex were trading 0.13% and 0.15% higher, respectively. Get live updates on Indian stock markets on Dec 10 Read MoreMarkets, Notifications
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