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sensex today: Stock market LIVE updates: Sensex rises over 300 pts, Nifty above 18,550; PSU


Sensex Today Live: Indian shares opened higher on Tuesday, as sentiment was lifted by data showing domestic retail inflation for November eased below the RBI’s tolerance limit, although focus will now be on the U.S. inflation data due later in the day.

India’s annual retail inflation eased to 5.88% in November from 6.77% in October, amid softer rise in food prices, government data showed on Monday, bolstering expectations of a slower pace of interest rate hikes. Analysts in a Reuters poll had predicted a November reading of 6.40%.

Retail inflation had been above the upper end of the Reserve Bank of India’s (RBI) 2%-6% tolerance band since January, prompting the central bank to raise rates by 225 basis points, including a 35 basis points increase last week.

Investors will now focus on the U.S. inflation data due at 7:00 p.m. IST (1330 GMT) and the Federal Reserve’s rate decision, scheduled to release later this week.

Wall Street equities advanced overnight as investors took an optimistic stance hoping that the now-hefty pace of increases in interest rates will finally slow.

Asian markets were off to a mixed start on Tuesday, with the MSCI Asia ex Japan rising 0.11%. [MKTS/GLOB]

All the major domestic sectoral indexes barring the Nifty FMCG advanced at the open, with Nifty Metal and Nifty Auto rising the most with 0.5% gains each, respectively.

Tata Motors was the top gainer in Nifty 50, rising nearly 1.5%, after the company said it was exploring sale of a portion of its 74.43% stake in Tata Technologies through an IPO.

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Tata Motors to increase prices of commercial vehicles from January 2023

Price as on 13 Dec, 2022 12:17 PM, Click on company names for their live prices.

Real rates turn positive as inflation eases, peak rate in sight – analysts

India’s real interest rate has turned positive after headline retail inflation eased below 6% for the first time this year, analysts said, suggesting that the peak policy rate is now close.

The RBI has hiked repo rate by 225 basis points since May, taking the terminal rate to 6.25%, to curb inflationary pressures. Inflation had stayed above the central bank’s repo rate for this year, implying a negative real rate.

“India returned to a positive real policy rate in Nov, 2022, and this month’s 35bp (basis point) rate hike to 6.25% has moved the real (inflation-adjusted) repo rate even more emphatically into positive territory,” Prasenjit K. Basu, chief economist at ICICI Securities wrote in a note.

Source: Reuters

Buyout firms Advent International, Baring Private Equity Asia (now owned by EQT), Bain Capital, Blackstone, Carlyle and KKR are among those who have been approached to buy the Fosun-owned Gland Pharma, in what would be one of the largest pharma deals in the country, said multiple people aware of developments.

Price as on 13 Dec, 2022 11:40 AM, Click on company names for their live prices.

Nov domestic passenger vehicle sales 2,76,231 units: Auto industry body

  • Nov domestic passenger vehicle sales 2,76,231 units
  • Nov domestic passenger car sales 1,30,142 units
  • Nov 2-wheeler sales 1,236,190 units
  • Nov 3-wheeler sales 45,664 units
  • Says higher interest rates and increase in long-term insurance premium, continues to be a concern for the consumers

SENSEX EXTENDS GAINS, RISES NEARLY 300 POINTS

SENSEX EXTENDS GAINS, RISES NEARLY 300 POINTS

TCS ties up with Gujarat government to impart digital skills in schools

Price as on 13 Dec, 2022 11:17 AM, Click on company names for their live prices.

Colgate Analyst Meet Takeaway

SULA IPO: Issue subscribed 35% so far on Day 2

  • QIB Quota: NIL
  • NII Quota: 21%
  • Retail Quota: 62%
  • Overall: 35%

AB Capital considering selling its insurance brokerage unit Aditya Birla Insurance Brokers: Sources

FMCG stocks trade in the red; Bajaj Consumer top loser

Price as on 13 Dec, 2022 10:25 AM, Click on company names for their live prices.

NTPC announces the commissioning of entire capacities of 150 MW & 90 MW Devikot Solar PV Project at Jaisalmer, Rajasthan.

Price as on 13 Dec, 2022 10:12 AM, Click on company names for their live prices.

Snack company Mondelez International has expanded its multi-year contract with IT company HCL Technologies to enhance cybersecurity and transform digital workplace services globally.

Price as on 13 Dec, 2022 10:11 AM, Click on company names for their live prices.

Can Paytm afford a buyback?

Private sector ICICI Bank on Monday said it has raised Rs 5,000 crore through bonds to fund business growth. The bank has allotted 50,000 senior unsecured redeemable long term bonds in the nature of debentures aggregating to Rs 5,000 crore on private placement basis, the date of allotment being December 12, 2022, it said in a regulatory filing.

Price as on 13 Dec, 2022 09:55 AM, Click on company names for their live prices.

Dalmia Bharat on Monday said it is acquiring the cement and power plants of cash strapped Jaiprakash Associates for an enterprise value of Rs 5,666 crore, marking an end to months of speculation over potential suitors for the assets.

Price as on 13 Dec, 2022 09:47 AM, Click on company names for their live prices.

KEC International has received orders worth Rs 1,349 crore across its various businesses. The transmission & distribution business has secured orders for T&D projects in India, SAARC, Middle East and Americas, while the business has bagged orders for building a data centre and other segments.

Price as on 13 Dec, 2022 09:43 AM, Click on company names for their live prices.

NIFTY BANK HITS FRESH RECORD HIGH

Here are the top gainers from the index

NIFTY BANK HITS FRESH RECORD HIGH

CITI ON IT STOCKS

Traders add bearish IT bets; stocks could decline 5-6%

Traders are building fresh bearish derivative bets on information technology (IT) stocks as they sense the possibility of at least a 5-6% decline in share prices from the current levels. HCL Technologies’ cautious earnings guidance late last week pushed traders to cut their bullish wagers on the sector, where stocks were riding an optimistic wave ahead of the December quarter results scheduled next month.

Traders add bearish IT bets; stocks could decline 5-6%

The two macroeconomic data which came yesterday have significant implications for the market. The CPI inflation for November at 5.88 % is below the RBI’s upper tolerance limit. This is good news. But the bad news is that the Index of Industrial Production (IIP) shows a contraction of 4 % in October. Taken together these two macro data suggest that the MPC is likely to refrain from further rate hikes. Even though this is a market, positive weakness in manufacturing suggests that it can impact corporate earnings, going forward. Since there is no room for further PE expansion, this will put a cap on the market rally. In the very near term, however, the market will be swayed by the US inflation data due today and the Fed action tomorrow. US inflation is likely to trend down lifting market sentiments.

– Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

Most active stocks: YES Bank, PNB, Voda Idea

Price as on 13 Dec, 2022 09:21 AM, Click on company names for their live prices.

The board of One 97 Communications, the parent company of payments services firm Paytm, will meet to consider share buyback.

Price as on 13 Dec, 2022 09:20 AM, Click on company names for their live prices.

Tata Motors said it would explore the possibility of partial divestment of its holding in subsidiary Tata Technologies Ltd through an initial public offering route. Tata Motors said the IPO Committee of the company has accorded its in-principle approval for such a step.

Price as on 13 Dec, 2022 09:20 AM, Click on company names for their live prices.

Opening Bell: Sensex rises over 100 pts, Nifty above 18,500; JP Associates gains 5%, Yes Bank 4%

Opening Bell: Sensex rises over 100 pts, Nifty above 18,500; JP Associates gains 5%, Yes Bank 4%

Credit Suisse on Siemens: Maintain Neutral

Pre-open session: Sensex rises over 150 points; Nifty above 18,520

Oil rises on U.S. supply concerns, hopes for returning China demand

Oil prices rose for a second day on Tuesday as a key pipeline supplying the United States, the world’s biggest crude consumer, remained shut and on expectations loosening COVID restrictions in China, the second-biggest user globally, will boost demand.Brent crude futures rose 64 cents, or 0.8%, to $78.63 per barrel by 0202 GMT, while U.S. West Texas Intermediate (WTI) crude futures gained 64 cents, or 0.9%, to $73.81.

Asian shares rise

Asian stock markets were buoyed on Tuesday by overnight optimism on Wall Street that the U.S. Federal Reserve and other central banks would ease off on the pace at which interest rates have been hiked to tackle the highest inflation levels in decades.

SGX Nifty signals a positive start

Nifty futures on the Singapore Exchange traded 22.5 points, or 0.12 per cent, higher at 18,620.50, signaling that Dalal Street was headed for a positive start on Tuesday.

Tech View: Nifty charts hint hurdle at 18,650

Even as the headline index ended flat today, Nifty formed a reasonable positive candle on the daily chart, which signalled the comeback of bulls after a minor downward correction. Analysts said the short-term trend of Nifty remains negative, but the emergence of buying from the intraday lows of Monday could be a cheering factor for bulls to make a comeback.

Tokyo stocks open higher with eyes on US price data

Tokyo stocks opened higher on Tuesday, extending Wall Street rallies as markets showed cautious optimism ahead of key US inflation data and a closely watched Federal Reserve meeting. The benchmark Nikkei 225 index was up 0.83 percent, or 232.07 points, at 28,074.40 in early trade, while the broader Topix index was up 0.88 percent, or 17.29 points, at 1,974.62.

Wall Street rallies with inflation, Fed on tap

U.S. stock indexes rallied to kick off the trading week on Monday, lifted in part by gains in Microsoft and Pfizer, as investors girded for inflation data on Tuesday and a policy announcement from the Federal Reserve later in the week.

Rupee falls 23 paise to 82.51 against US dollar

Snapping a three-day rising streak, the rupee declined 23 paise to close at 82.51 against the US dollar on Monday, pressured by a lacklustre trend in the domestic equity markets and foreign capital outflows.

Sensex, Nifty on Monday

Apprehensive of taking sides ahead of the US Fed meeting beginning tomorrow, traders remained non-reactive on Monday. The domestic equity market, as a consequence, ended flat today with Sensex ending 51 points lower at 62,130, while Nifty 50 settled 0.55 points higher.

Good morning, dear reader! Here’s something to kickstart your trading day

Good morning, dear reader! Here's something to kickstart your trading day





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