Sensex gains 145 pts ahead of US Fed outcome; YES Bank slumps 8%, Paytm 2%

CLOSING BELL: The broader markets, on the other hand, outperformed the benchmark indices as the BSE MidCap and SmallCap indices advanced 0.59 per cent and 0.68 per cent, respectively

CLOSING BELL

Stock market highlights: Equity markets extended gains into second straight day as cooler-than-expected inflation in the US and India fueled risk appetite of investors. Overnight, the US recorded the smallest monthly increase in retail inflation at 7.1 per cent. Back home, India's wholesale inflation hit a 21-month low of 5.85 per cent on Wednesday.

Against this, the S&P BSE Sensex settled the range-bound trade at 62,678, up 145 points or 0.23 per cent. The NSE Nifty50, meanwhile, shut shop at 18,660, up 52 points or 0.28 per cent.

The broader markets, on the other hand, outperformed the benchmark indices as the BSE MidCap and SmallCap indices advanced 0.59 per cent and 0.68 per cent, respectively.

Sectorally, the Nifty Realty, Metal, IT and Media indices gained over 1 per cent each, followed by Nifty Auto and Pharma indices (up 0.6 per cent each). The Nifty FMCG index was the only loser, down 0.43 per cent.

Buzzing stocks
Shares of YES Bank dipped 8 per cent to Rs 22 on the BSE in Wednesday's intra-day trade, falling 11 per cent from the day's high of Rs 24.75, as investors booked profit booking after four days of relentless rally. They also took money off the table after private equity (PE) funds Carlyle Group and Advent picked 9.99 per cent stake in the bank. READ MORE

Paytm's shares fell 3 per cent to Rs 525.60 amid profit booking on the BSE in Wednesday's intra-day trade. JP Morgan, however,, said Rs 850-crore share buyback programme could support the stock's price in the near-term, READ MORE

Primary market

Sula Vineyards: The initial share sale of the wine seller was subscribed 2.3 times till 3:30 PM on the final day of the issue. At 4.13 times, QIB portion was subscribed the most, followed by retail portion at 1.6 times and NII at 1.49 times.

Abans Holdings: The issue was subscribed 44 per cent on day three of the offer with QIB portion at 2 times, NII at 14 per cent and retail at 29 per cent. 

 

4:13 PM

MARKET VIEW: US Fed commentary on rate hike trajectory to dictate next moves

Better-than-expected inflation readings from major global economies, combined with increased appetite for IT stocks, aided the domestic market's bullishness.

US CPI inflation easing to 7.1% in November will lower the chances of the Fed being hawkish.

Though the Fed is largely expected to raise rates by 50 basis points, their comments on future inflation and rate actions would dominate market movements.

Views by Vinod Nair, Head of Research at Geojit Financial

4:10 PM

NIFTY VIEW: Index still in short-term consolidation

Continuing with the positive momentum from the last couple of sessions, the Nifty opened gap up on December 14.

Despite multiple attempts, however, it couldn’t build upon the early gains. Fibonacci retracement shows that the index has done deep retracement of the entire recent decline & has reached 61.8% retracement mark.

The Nifty formed a distribution throughout the day near the key Fibonacci level & moved lower towards the end of the session.

Overall structure shows that the index is still in short term consolidation & can trade around 18700-18300 over the next few sessions.

Views by Gaurav Ratnaparkhi, Head of Technical Research, Sharekhan by BNP Paribas

4:07 PM

NBCC closes 3% higher on order win of Rs 300 crore

4:05 PM

HG Infra wins Rs 997 crore-order; stock rallies 8%

4:02 PM

Hubtown plunges 5% after creditor files insolvency plea in NCLT

A financial creditor has filed plea against the company before NCLT, alleging default on Rs 38.3 crore payment & seeking initiation of corporate insolvency resolution process.

3:59 PM

Kerala Ayurveda zooms 9%; US regulator awards patent for herbal formulation

3:57 PM

Paytm closes 2% down on profit-taking; ends off lows

3:55 PM

YES Bank snaps 3-day rally; slumps 8% post Carlyle-Advent deal completion

3:53 PM

SCALING HIGH: Nifty Bank touches new peak; closes above 44K

3:50 PM

SECTORS: IT, Metal pockets zoom 1%; FMCG trails

3:48 PM

SMALL-CAP GAINERS: UCO Bank, GTL Infra, Hathway, PNB Housing among top winners

3:46 PM

MIDCAP WINNERS: Voda Idea, PSU insurance players rally up to 10%

3:43 PM

BROADER MARKETS: Mid-caps, Small-caps log stronger gains over benchmarks

3:41 PM

NIFTY TOP 5 LOSERS: Nestle, Airtel, ICICI Bk, Asian Paints slip 1%

3:39 PM

NIFTY TOP 5 GAINERS: Hindalco, ONGC, JSW Steel, UPL jump 2%