Monday, December 23, 2024 | 09:35 PM ISTEN Hindi

MARKET WRAP: Sensex slips 39 pts; Reliance Ind, SBI decline nearly 2%

All that happened in the markets today

SI Reporter New Delhi

8:49 AM

Broader market telling a different story from Sensex, Nifty: Shankar Sharma

At a time when the S&P BSE Sensex and the Nifty50 have hit new highs, SHANKAR SHARMA, vice chairman & joint managing director at First Global, cautions that these two indices, by any stretch, are not representative of the entire market. Over the past few years, they have become a six-stock measure, he tells Puneet Wadhwa. READ FULL INTERVIEW HERE

Shankar Sharma, Vice chairman & joint managing director, First Global

8:46 AM

DoT seeks Rs 1.72 trillion in past statutory dues from GAIL after SC ruling

The Department of Telecommunications has sought Rs 1.72 trillion in past statutory dues from state-owned gas utility GAIL India Ltd following the Supreme Court's ruling on revenues that need to be taken into consideration for payment of government dues.

Sources with direct knowledge of the development said DoT sent a letter to GAIL last month seeking Rs 1,72,655 crore in dues on IP-1 and IP-2 licences as well as Internet Service Provider (ISP) licence. READ MORE

8:42 AM

Stocks to watch: Titan, Tata Motors, Nestle, YES Bank, RIL, IT firms, GAIL

Here's a list of top stocks that may trade actively in today's trading session -

Sensex changes: Tata Motors, Tata Motors DVR, YES Bank and Vedanta will be dropped from the BSE’s benchmark Sensex from today. Instead, UltraTech Cement, Titan Co and Nestle India will be added to the index. Besides, UPL and Dabur India will be added to the S&P BSE Sensex 50, replacing Indiabulls Housing Finance and YES Bank.

Banks to remain in focus as the Reserve Bank of India (RBI) is slated to launch its US Fed-style "Operation Twist" on Monday where it will conduct simultaneous purchase and sale of government securities under Open Market Operations (OMO) for Rs 10,000 crore. READ MORE

8:37 AM

Nifty Outlook and top trading ideas by CapitalVia Global Research Limited

Buy UPL Ltd.: (Above Rs 583)

Target: Rs 620

Stop loss: Rs 560

The stock is witnessing a bounce-back from major moving averages in daily chart and has closed above all major EMAs. Moreover, the stock is witnessing resistance breakout from the level of 583 and breaching this level might result in good upside momentum. Considering the technical evidence discussed here, we recommend buying the stock above Rs 583 for the target of Rs 620, keeping a stop loss at Rs 560 on a closing basis. READ MORE

8:35 AM

Top two trading ideas by Prabhudas Lilladher: Buy Marico, M&M Finance

Nifty View

The market closed at an all-time high on Friday with indicators showing potential for higher targets, so bias continues to be positive. This also being a truncated week, market may consolidate or move in narrow range. The support for the week is seen at 40,980/12,040 while resistance is seen at 42,370/12,500 for Sensex and Nifty, respectively. Bank Nifty would have a range of 31,690-33,080. Among banking stocks HDFC Bank looks positive along with ICICI and State Bank of India (SBI). Market at this level will witness stock specific movement with trend of all periodicities continuing to be positive. READ MORE

8:32 AM

NEWS ALERT | Future Retail promoters release pledge on 4.63 cr shares: CNBC TV18

8:31 AM

Bulk deals on BSE as on Friday

Click here for full list

8:30 AM

Bulk deals on NSE as on Friday

Click here for full list

8:28 AM

FII/FPI & DII trading activity on NSE, BSE and MSEI

8:26 AM

Rupee Check

Source: Bloomberg

8:24 AM

Oil Check

>> Oil prices were mostly steady on Monday after three weeks of gains amid optimism the United States and China were close to signing a trade deal to end a tariff war, with President Donald Trump saying an agreement would be signed “very shortly, Reuters reported.

>> At 8:24 am, Brent Crude Futures were at $65.09 per barrel mark