MARKETS: Indices end at record closing peaks; Nifty settles above 13,000

All that happened in the markets today

2:03 PM

AAVAS Financiers gains 6% in two days after stake sale by AU Small Fin Bank

On Monday, November 23, AU Small Finance Bank sold 3.5 million shares, representing 4.5 of total equity of AAVAS Financiers, according to BSE bulk deals' data. The value of these shares, at Rs 1,515.2 a piece was Rs 530.3 crore. AU SFB held 3.58 million equity shares or 4.57 per cent stake in AAVAS Financiers as on September 30, 2020, the shareholding pattern data shows. READ MORE

1:55 PM

Why retail, HNI investors may be regretting giving Gland Pharma IPO a miss

On Monday, the stock rose 15 per cent to end at Rs 2,095. At one point, the stock was locked in 20 per cent upper circuit, with only buyers and no sellers in the counter. Some selling, however, emerged later. The stock got listed on Friday and ended the session at Rs 1,820, a gain of 21 per cent over its issue price. READ MORE

1:45 PM

Good performance masks problem assets for Indian banks, says S&P

Rating agency S&P, in a statement, said while financial institutions performed better than we expected in the second quarter, much of this is due to the six-month loan moratorium, as well as a Supreme Court ruling barring banks from classifying any borrower as a non-performing asset. It released a report "The Stress Fractures In Indian Financial Institutions." READ MORE

1:36 PM

BSE Consumer Discretionary goods & services index up 1.42%

1:28 PM

MARKET UPDATE | India VIX surges around 5% to 21.82 levels

1:28 PM

NEWS ALERT :: Datamatics to sell-off entire stake in subsidiary firm CIGNEX Datamatics

>> The Board of Directors of Datamatics Global Services has approved to dispose off the entire stake which is indirectly held by the Company in its Step Down and Material Foreign Subsidiary, namely CIGNEX Datamatics, Inc, a corporation headquartered in the USA by way of divestment through stock redemption agreement entered into by and between Cignex US and Datamatics Global Technologies Limited, Mauritius

1:24 PM

Expert View :: Sameet Chavan- Chief Analyst -Technical and Derivatives at Angel Broking

We have already seen a mesmerising move in last three weeks. In fact, so far this month, Nifty and BankNifty have clocked whopping gains of 12% and 24%, respectively. It is backed by lot of positive news flow around the globe and a relentless buying of FIIs in our market, probably one of the biggest cash market buying figure ever in a single month. So market is very much likely to hit new records highs time and again. Immediately 13,100-13,200 are the levels to watch out but we will not be surprised to see 13,700 in coming months. On the lower side, 12,730-12,570 should be seen as sacrosanct support zone.

1:19 PM

Bitcoin at $100,000 in 2021? Outrageous to some, a no-brainer for backers

Bitcoin investors, which include top hedge funds and money managers, are betting the virtual currency could more than quintuple to as high as $100,000 in a year. It's a wager that has drawn eye-rolls from skeptics who believe the volatile cryptocurrency is a speculative asset rather than a store of value like gold. Since January, bitcoin has gained 160%, bolstered by strong institutional demand as well as scarcity as payment companies such as Square and Paypal buy it on behalf of customers. READ MORE

1:14 PM

SECTOR WATCH :: Realty stocks gain on report Maha govt suggests lowering FSI rates

>> Mumbai has seen a doubling of house registrations in October this year YoY

>> CNBC-TV18 reports that BMC commissioner is working with all the key political parties to request that 22 different premiums to be paid by realty companies be excused till end of 2021

Alert: FSI is Floor Space Index

1:05 PM

SECTOR WATCH:: Cement stocks under pressure in an otherwise firm market

COMPANY	LATEST(rs)	CHG(%)
INDIA CEMENTS	153.75	-1.22
AMBUJA CEMENTS	255.75	-0.93
ORIENT CEMENT	70.60	0.64
ACC	1710.20	-0.81
PRISM JOHNSON	80.10	-1.17

1:04 PM

NSE declares Karvy Stock Broking as defaulter, expels from membership

The National Stock Exchange (NSE) has declared Karvy Stock Broking as a defaulter for non-compliance with the regulatory provisions of the bourse.

 

In addition, Karvy Stock Broking has been expelled from the membership of the exchange, the NSE said in a circular. READ MORE

12:55 PM

Expert View :: Hemang Jani, Head - Equity Strategy, Broking & Distribution, MOFSL

Nifty crosses the 13,000 levels for the first time ever and made record highs today. Sensex also rose to a new life time high. Indian indices opened on record-high levels on Tuesday, tracking gains in Asian peers, on the back of the progress made on the Covid-19 vaccine and the prospects for a speedy global economic revival.

The overall sentiments are strong and the market outlook is positive going forward. If the foreign fund inflows continue we can see higher levels on Nifty in coming days/weeks. Nifty can possibly touch 13,200-13,400 levels also. But it also depends on the sustainability of the economic growth over the next few months post festive season. Hence at the current market levels it is advisable to partially book profits and sit on 15-20% Cash in the portfolio. Any corrections in the market can be used to deploy funds at lower levels.

12:44 PM

BROKERAGE VIEW | Emkay Global Financial Services on Mphasis

RATING: HOLD | TARGET PRICE: Rs 1,440 

While strong deal momentum and continued traction in the Direct business augur well for revenue growth, the weakness in DXC revenues and uncertainty around the revenue trajectory after the MRC period remain key risks. Maintain Hold with a TP of Rs 1,440.

12:36 PM

MARKET UPDATE:: Financials lead contributors to Sensex's gain today

12:27 PM

Nifty hits 13,000-mark, Sensex at record peak: Is it time to book profits?

The dream run of the domestic equities reached a new pinnacle on Tuesday when the Nifty50 index surpassed the 13,000-mark for the first time ever. The S&P BSE Sensex, meanwhile, kissed the 44,500-mark in intra-day deals. A cocktail of better-than-expected earnings, improved Goods and Services Tax (GST) collection, better macro-data, and progress in Covid-19 vaccine development has pushed the markets to their peaks, analysts say. That said, while the markets look poised for sustained uptrend, investors may consider profit-booking gradually, say analysts. READ MORE