Share Market News Today | Sensex, Nifty, Share Prices Highlights: The benchmark equity indices ended Tuesday’s trading session in the positive territory. The NSE Nifty 50 gained 91.95 points or 0.43% to settled at 21,441.35, while the BSE Sensex jumped 229.84 points or 0.32% to 71,336.80. The broader indices ended in positive territory, with gain led by Largecap and Midcap stocks. Bank Nifty index ended higher by 233 points or 0.49% to settle at 47,724.85. Oil & Gas and Healthcare stocks outperformed among the other sectoral indices while Media and IT stocks shed. Divis Labs, Here MotoCorp, NTPC, Adani Enterprises, and ONGC were the top gainers on the NSE Nifty 50, while the laggards include Bajaj Finance, Bajaj FinServ, Infosys, TCS, and Tata Motors. The Indian Volatility Index (India VIX) closed up by 7.07 %.
Divis Labs, Here MotoCorp, NTPC, Adani Enterprises, and ONGC were the top gainers on the NSE Nifty 50, while the laggards include Bajaj Finance, Bajaj FinServ, Infosys, TCS, and Tata Motors.
The NSE Nifty 50 gained 0.43% to settled at 21,441.35, while the BSE Sensex jumped 0.32% to 71,336.80.
USDINR CMP- 83.19 (spot) “The Indian Rupee depreciated on Tuesday on recovery in the US Dollar and FII outflows. However, positive domestic markets and a decline in crude oil prices cushioned the downside. The US Dollar declined on Friday on colling inflation in the US which raised rate cut bets. We expect the Rupee to trade with a slight positive bias on the rise in risk appetite in global markets and weak tone in the US Dollar amid rising expectations of a rate cut. However, demand for the US Dollar from imports and selling pressure from FIIs may cap the upside. Geopolitical tensions in the Red Sea may also weigh on Rupee at higher levels. Traders may take cues from house price index data from the US. USDINR spot price is expected to trade in a range of Rs 82.90 to Rs 83.50,” Anuj Choudhary, Research Analyst at Sharekhan by BNP Paribas
“Nifty weekly contract has highest open interest at 22000 for Calls and 21000 for Puts while monthly contracts have highest open interest at 22000 for Calls and 21000 for Puts. Highest new OI addition was seen at 22500 for Calls and 21300 for Puts in weekly and at 22500 for Calls and 21300 for Puts in monthly contracts. FIIs decreased their future index long position holdings by 1.76%, decreased future index shorts by 7.73% and in index options by 37.28% decrease in Call longs, 5.52% increase in Call short, 42.00% decrease in Put longs and 14.75% increase in Put shorts,” Anand James, Chief Market Strategist at Geojit Financial Services.
The company said to launch a luxury residential project in Gurgaon with revenue potential of Rs 10,000 crore.
Tata Chemical, Laurus Labs, Bharat Electronics, Aarti Industries, and Deepak Nitrite are the top gaining stocks in F&O basket
“We will enter the last week of the year with low expectations of a directional move. Should we hold above 21230, expect upsides aiming 21540, but not much beyond. Alternatively, slippage past 21230 could threaten the 14d ema at 20998 again, or could launch an attack on the gap below 20500 in an extreme scenario. But consistent with our views on the upside, a collapse is also less favored this week,” said Anand James, Chief Market Strategist at Geojit Financial Services.
Muthoot Microfin Ltd (MML) shares debuted at a 5.40% discount to the IPO price on Tuesday, December 26. The NSE listing commenced at ₹275.30 compared to the offer price of ₹291, reflecting a discount of 5.40%. Similarly, on the BSE, the stock was listed at ₹278, marking a 4.46% decrease.
Also Read: Muthoot Microfin lists at a discount of over 6% from the IPO price
Suraj Estate, a real estate developer headquartered in Mumbai, experienced a lackluster debut on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on Tuesday, December 26. Listing at ₹343.8 per share on BSE, the company faced a marginal difference from the issue price range of ₹340 to ₹360. Simultaneously, on NSE, the stock initiated trading at ₹340 per share, representing a modest 5.56% discount compared to the issue price.
Also Read: Suraj Estate makes a lackluster debut; trades around Rs 345 per share
Motisons Jewellers, the jewelry retail company headquartered in Jaipur, marked a robust initiation into the stock market on Tuesday, December 26, with an impressive 100% premium on its first day of trading. Listing at Rs 109 on the National Stock Exchange (NSE), the stock exhibited a substantial 98% premium over its issue price of Rs 55 per share. Similarly, on the Bombay Stock Exchange (BSE), the stock was listed at ₹103.90, underscoring a strong and promising debut for Motisons Jewellers.
Also Read: Motisons Jewellers marks a stellar debut at D-Street; lists over 98% premium
The NSE has added Ashok Leyland, Balrampur Chini Mills, Delta Corp., Hindustan Copper, India Cements, Indus Tower, National Aluminium, and SAIL to its F&O ban list for December 26, 2023.
“The Bank Nifty index faced selling pressure on the last day but managed to hold the key support level of 47400. If the index fails to sustain above this support, it could witness further decline toward the 47100 levels. On the upside, the immediate resistance is at 47700, and a breakout above this level may trigger short-covering, pushing the index higher toward 48000/48200 levels,” said Kunal Shah, Senior Technical & Derivative analyst at LKP Securities.
Indian Railways to invest Rs 7 trillion to lay a record 50,000 Kilometers of new train tracks over the next decade. Railways to improve connectivity with modern tracks that can handle higher speed trains such as Vande Bharat & Bullet Express
Commenting on the Technical outlook of Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities, said, The Nifty index displayed volatile movements on the last day of the week but managed to close above the crucial level of 21300. The lower-end support for the index is positioned at 21200, presenting a buying opportunity on any dips toward this level. Sustaining above 21300 could pave the way for further upside momentum, targeting the 21500 level.
The NSE Nifty 50 opens higher by 0.0.07% to settle at 21,365.20, while the BSE Sensex opened in red, down by just 0.01% to 71,097.78.
Shares in the Asia-Pacific region are trading in the mixed territory on Tuesday morning. The Asia Dow is trading down by 0.42%, Japan’s Nikkei 225 is red, down by 0.03%, Hong Kong’s Hang Seng index is trading down 1.69% and the benchmark Chinese index Shanghai Composite is trading higher by 0.14%.
WTI crude prices are trading at $73.90 up 0.02%, while Brent crude prices are trading at $79.41 up by 0.02%, on Tuesday morning.
The US Dollar Index (DXY), which measures the value of the dollar against a basket of six foreign currencies, traded down by 0.04% at 101.67.
U.S. stocks stayed on track for an eight-week bull run after inflation readings reinforced Wall Street’s conviction in early and deep rate cuts next year, Bloomberg reported. The tech-heavy Nasdaq Composite gained 25.16 points or 0.18% at 14,989.03. The S&P 500 jumped 5.53 points or 0.12% at 4,752.28, while the Dow Jones Industrial Average dropped 14.72 points or 0.04% to 37,389.63.