Sensex, Nifty end mildly higher amid fag-end buying ahead of Fed outcome

Closing Bell on December 13, 2023: The broader market space remained upbeat with the BSE MidCap and SmallCap indices ending 1.06 per cent and 0.73 per cent higher, respectively.

Stock market highlights: Markets erased losses in the last few minutes of the session with the S&P BSE Sensex ending at 69,585 levels, up 34 points or 0.05 per cent, and the Nifty50 shutting shop 20 points, or 0.1 per cent, higher at 20,926 levels.

NTPC, Power Grid, M&M, L&T, Sun Pharma, SBI, Titan, Tata Steel, Tata Motors, ITC, and Maruti Suzuki were the top gainers on the Sensex index as they rose up to 3.6 per cent. 

TCS, Infosys, Ultratech Cement, Bajaj Finserv, Axis Bank, Tech M, HCL Tech, Wipro, Bajaj Finance, JSW Steel, and ICICI Bank, meanwhile, were the top laggards, down up to 2 per cent.

Meanwhile, the broader market space remained upbeat with the BSE MidCap and SmallCap indices ending 1.06 per cent and 0.73 per cent higher, respectively. 

Among sectors, the Nifty IT index declined 1.3 per cent, followed by the Nifty Private Bank index (down 0.07 per cent). On the upside, the Nifty Pharma, and Auto indices gained 1 per cent each. 

3:52 PM

Comment :: 'Global upside getting stretched'

India's domestic industrial production and manufacturing PMI exceeded expectations, a clear reflection of the continuation of economic growth in H2FY24. However, a simultaneous challenge emerges as retail inflation stands at 5.5%, still much above the RBI's 4% target.

This inflationary pressure, driven by high food inflation and the looming spectre of El Niño, is poised to persist. The market's focus now shifts to the upcoming FOMC meeting. And the recent global upside is getting far stretched in anticipation of a rapid fall in US Fed rate in CY2024.

Views by: Vinod Nair, Head of Research at Geojit Financial Services.

3:51 PM

Comment :: 'US markets will decide directional move for India'

Indications are in favor of further consolidation in the index but the bias would remain on the positive side. Participants should maintain their focus on stock selection and overnight risk management. 

We feel the performance of the US markets would play a critical role in setting the next leg of the directional move so keep a close eye on them for cues. 

Views by: Ajit Mishra, SVP - Technical Research, Religare Broking

3:49 PM

IPO Update :: India Shelter Finance Corp sails through on day 1

3:47 PM

IPO Update :: Doms Industries receives 4.4x bids on day 1

3:43 PM

SmallCap Heatmap :: Index rises 0.7%; check top gainers and losers

3:41 PM

MidCap Heatmap :: Index outperforms benchmarks, ends 1% higher

3:39 PM

Nifty Heatmap :: NTPC, Hero Moto, Power Grid end as large-cap gainers

3:37 PM

CLOSING BELL :: Nifty holds 20,900 after a choppy sessiin

3:36 PM

CLOSING BELL :: Sensex swings in trade, ends 34 pts higher

3:26 PM

Blue-collar workforce in India saw 7% rise in hiring in 2023: Indeed report

The company's survey further showed that 49 per cent of blue-collar employers wanted to hire Gen Z candidates (aged below 26), while 41 per cent of white-collar employers sought out millennial recruits (aged 27-41). The survey stated: "Hard skills that employers prioritise include driving (53 per cent), knowledge and operation of machines equipment (33 per cent), while soft skills include teamwork (79 per cent) and communication (79 per cent)." READ MORE

3:14 PM

This recently listed stock has zoomed 74% since its flat debut in November

The average trading volumes on the counter jumped over three-fold with 1.2 million equity shares having changed hands on the BSE. There were pending buy orders for 137,900 shares on the exchange, data shows. READ MORE

3:02 PM

Global check:: US, UK stock futures trade with modest gains ahead of FOMC outcome

Source: Investing.com

2:51 PM

ALERT:: Force Motors to buy 12% stake in TP Surya; stock marginally down

The board of directors of Force Motors on December 12 approved acquisition of 12.21 per centg stake in TP Surya Limited a wholly-owned subsidiary of Tata Power Renewable Energy Limited for a consideration of Rs 2.69 crore.

2:42 PM

Stock of this PSU power generation company has zoomed 110% in 6 months

NLC today announced its foray into production of construction-grade sand from Mine Overburden with the inauguration of the proposed plant. READ MORE

2:31 PM

ALERT:: Chembond Chemicals announces Demerger and biz Reorganization; stock zooms 13%

Chembond Chemicals Limited (CCL) in an exchange filing said, the company's board today approved the Demerger of the construction chemicals and water technologies businesses into Chembond Chemical Specialties Limited (CCSL).

 

Furhter, amalgamation of Chembond Clean Water Technologies Limited into CCSL. Amalgamation of Chembond Material Technologies Private Limited, Phiroze Sethna Private Limited and Gramos Chemicals (India) Private Limited into CCL.

 

Thus, shareholders of CCL will get two equity shares of CCSL for every 1 equity share held by them in CCL.