Indices gain for 5th straight day, Sensex ends 259 pts up; banks outperform

All that happened in the markets today

1:52 PM

MARKET UPDATE:: HDFC twins, Axis Bank among top contributors to Sensex's gain

1:41 PM

SECTOR WATCH:: Auto stocks under pressure

COMPANY	LATEST(rs)	CHG(%)
TATA MOTORS	184.40	-1.02
ASHOK LEYLAND	94.85	-0.42
TATA MOTORS-DVR	76.65	-0.78
M & M	707.15	-0.63
ESCORTS	1262.25	1.61

1:29 PM

Rossari Biotech stock advances 11% to hit new high since listing

Shares of Rossari Biotech edged higher by 11 per cent to Rs 1,019 on the BSE in intraday trade on Tuesday to scale its highest level since listing on the bourses on July 23 this year. The stock of specialty chemicals company zoomed 140 per cent against its issue price of Rs 425 per share. In the past one month alone, the stock has outperformed the market by gaining 25 per cent, as compared to a 7.5 per cent rise in the S&P BSE Sensex. READ MORE

1:09 PM

NEWS FLASH | Cabinet Secretary led CGD gives a go ahead to BEML Expression of Interest

Following this development, shares of the company jumped over 3%

1:02 PM

India VIX rises over 3%

12:59 PM

Lenders extend ICA for Reliance Home Finance resolution till Mar 31

Lenders to troubled mortgage firm Reliance Home Finance (RHF) have extended the inter-creditor agreement (ICA) for another three months. Reliance Home Finance, part of Anil Ambani-promoted Reliance Group, recently got bids from six suitors as part of the debt resolution process. "The lenders of the company forming part of the Inter creditor Agreement (ICA), executed pursuant to the Reserve Bank of India (RBI) circular dated June 7, 2019 on Prudential Framework for Resolution of Stressed Assets, have extended the ICA period till March 31, 2021," the company said in a regulatory filing. (Text Source: PTI)

12:49 PM

Aviation sector hit hard by Covid-19, but recovery may not be far away

Humpty Dumpty sat on a wall Humpty Dumpty had a great fall All the king’s horses and all the king’s men Couldn’t put Humpty together again The words of this nursery rhyme perhaps best describe the current predicament of the Indian aviation sector. The year 2020 has pulled the carpet from under the industry’s feet, and air travel, and even the passenger, may never be the same again, requiring the industry to reinvent itself from scratch. READ MORE

12:35 PM

Market Stats at noon

• On BSE, losers trump gainers; 1,311 shares rose while 1,476 fell
• 256 scrips hit 52-week highs and 29 scaled 52-week lows
• 321 stocks hit upper circuit limits and 165 touched lower circuits

12:34 PM

Chart check: 97% Nifty500 stocks trade above their respective 200-DMA

The sentiment and momentum in the Indian markets these days is that of extreme positivity. Spurred by the hope of a rebound in global economy and encouraging news on Covid-19 vaccine front, both the domestic benchmark indices are making their way into uncharted territory almost on a daily basis, with the Nifty50 index now eyeing the landmark level of 14,000. The overall scenario is that of a strong buying sentiment. READ MORE

12:21 PM

BSE Smallcap index hits 31-month high; Paisalo Digital zooms 53% in 4 days

Shares of smallcap companies were on a roll at the bourses on Tuesday with the S&P BSE Smallcap index hitting 31-month high after domestic mutual funds and insurance company acquired select companies' share from open market. SORIL Infra Resources, Paisalo Digital, Fineotex Chemical, Rupa & Company, Borosil Renewables, Nava Bharat Ventures and Hindustan Foods were up between 10 per cent and 20 per cent on the BSE in intra-day trade. The S&P BSE Smallcap index hit an intra-day high of 18,089, its highest level since May 10, 2018. The index surpassed its previous high of 17,967, touched on December 17, 2020. READ MORE

11:59 AM

Stocks that hit 52-week high on BSE today

COMPANY	PRICE(rs)	52 WK HIGH	CHG(%)
APL APOLLO TUBES	816.15	830.00	0.96
ASIAN PAINTS	2698.80	2698.80	0.56
BAJAJ AUTO	3441.10	3459.00	0.79
BALMER LAWRIE	137.50	146.50	1.66
BERGER PAINTS	746.00	746.00	0.69

11:48 AM

Some of 2020's most expensive stocks sink as investors choose to selloff

Some of the year’s most expensive stocks encountered a wave of selling as investors moved to lock in gains in the last week of 2020. Zoom Video Communications Inc. and DocuSign Inc., fell more than 6% on Monday. Both companies have seen their shares soar this year amid a surge in new users and are trading at more than 20 times next year’s projected sales. The average price to estimated sales multiple in the technology-heavy Nasdaq 100 Stock Index is 4.6 times, according to data compiled by Bloomberg. READ MORE

11:37 AM

Japan's Nikkei index hits 30-year high on expanded US stimulus hopes

Japan's Nikkei share average climbed to a three-decade high on Tuesday as investor risk appetite improved on hopes that the long-awaited U.S. pandemic relief package would be expanded. The benchmark Nikkei share average rose 1.63% to 27,292.37 by the midday break, having earlier hit its highest level since August 1990. The index was also on course for its biggest daily gain in five weeks. The broader Topix gained 1.05% to 1,806.84, hitting a level unseen since October 2018.

 

11:32 AM

Wipro hits new high, trades close to buyback price of Rs 400

Shares of Wipro hit a new high of Rs 390, up 2 per cent, on the BSE on Tuesday, and were trading close to the share buyback price of Rs 400 per share. The IT services major's share buyback programme commenced from today, December 29 and will close on January 11, 2021. In November, shareholders had approved the buyback plan for purchase of up to 237.5 million equity shares at Rs 400 per share, aggregating to an amount of up to Rs 9,500 crore. READ MORE

11:21 AM

Shriram Transport Finance plans to raise funds via debt securities

Shriram Transport Finance Company on Tuesday said its board will meet next month to consider raising funds through the issuance of debt securities. However, the company did not specify the amount that it is planning to raise. Shares of Shriram Transport Finance Company were trading 2.56 per cent higher at Rs 1,042.35 a piece on the BSE. (Text Source: PTI)