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Share Market Closing Note
Sensex falls 378 pts, Nifty at 20,900; realty, power, oil & gas major drag:
Indian equity indices ended lower in the volatile session on December 12 with Nifty around 20,900.
Biggest losers were BPCL, Apollo Hospitals, Maruti Suzuki, Sun Pharma and Eicher Motors, while gainers included HDFC Life, UltraTech Cement, Bajaj Auto, SBI Life Insurance and Axis Bank.
Except Metal, all other sectoral indices ended in the red with capital goods, oil & gas, power and realty down 1 percent each.
The BSE midcap index shed 0.4 percent and smallcap index fell 0.2 percent.
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Topic :- Time:3.20 PM
Just In:
Googles Epic legal defeat threatens $200 bn app store industry | Google maintained monopoly: US Court
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Topic :- Time:3.00 PM
Nifty future if holds above 21000 on closing basis then expect some recovery in coming sessions and if it closes below above mentioned level then some sluggish movement may happen. Avoid open positions for tomorrow.
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Topic :- Time:2.55 PM
Just In:
SpiceJet approves Rs 2,250-crore fundraise from 64 investors.
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Topic :- Time:2.50 PM
Just In:
Infosys CFO Nilanjan Roy resigns, effective March 31, 2024. Jayesh Sanghrajka takes over from April 1. Top-level exits trend continues in major IT players like Wipro.
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Topic :- Time:2.30 PM
CRUDEOIL Trading View:
CRUDEOIL is trading at 5981. If it manages to trade and sustain above 6005 level then expect some upmove in it and if it breaks and trade below 5955 level then some further decline can be seen in Crudeoil.
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Topic :- Time:2.15 PM
Stock Idea: ZEE Entertainment - CMP 295
1. The Company was reeling under pressure on profitability front due to management paralysis.
2. Merger with Sony is in final stage and expected to conclude soon. The Company already has NCLAT and CCI approval in place. SEBI issue barring Subhash Chandra and Puneet Goenka from holding director position is the only hurdle. Looking at the present scenario, existing promoter Chandra family have to relent the management position in favor of Sony.
3. Post merger Sony will hold more than 50% in the mergerd entity and Chandra family will hold little over 3.5%.
4. Sony-Zee will be largest entertainment network in India with 70 TV channels, two video streaming services (ZEE5 and Sony LIV) and two film studios (Zee Studios and Sony Pictures Films India)
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Topic :- Time:2.15 PM
Just In:
Adani Ports board approves issuance of NCDs worth ₹5,000 crore
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Topic :- Time:2.00 PM
Nifty spot is trading at 20951. If it breaks and trade below 20920 level then expect some decline in the market and if it manages to trade and sustain above 20980 level then some upmove can follow in it.
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Topic :- Time:1.15 PM
Just In:
IREDA scales Rs 100-mark, up 200% from IPO price.
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Topic :- Time:1.00 PM
Nifty future is trading at 21047 not able to sustain higher level. Immediate support for Nifty future is at 21035. If it breaks and trade below it then next critical support is at 20070-20960 levels. As per current market situation buying from lower levels is still recommended.
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Topic :- Time:12.45 PM
Just In:
India Shelter Finance IPO: India Shelter Finance is trading at a premium is ₹150 in the grey market, down from a premium of ₹200 yesterday.
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Topic :- Time:12.30 PM
COPPER Trading View:
COPPER is trading at 717. If it manages to hold above 714.80 level then expect it to rise till 721-722 levels quite soon and if it breaks and trade below 714.80 level then some decline can follow in it.
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Topic :- Time:12.00 PM
Nifty is trading flat. Nifty spot if manages to trade and sustain above 21020 level then expect some upmove in the market and if it breaks and trade below 20980 level then some decline can follow in the Nifty.Due to less movement traders are advice to trade in less quantity and should wait for some movement.
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Topic :- Time:11.45 AM
Just In:
USFDA issues 5 observations after inspecting Torrent Pharmas Gujarat manufacturing facility
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Topic :- Time:11.30 AM
News Wrap Up:
1. Sensex, Nifty flat; media top sectoral gainer
2. Adanis under-probe contractor resurfaces with a new name
3. Desperate retail investors drive options craze
4. Kinetic Green to raise $30-40 million
5. Dixon Technologies shares rally 5% to hit 52-week high on Lenovo contract
6. Mahindra and Mahindra gains on higher production, sales volumes
7. L&T Tech shares gain on signing multi-year pact with global energy firm BP
8. Rupee opens marginally higher at 83.37 against US dollar
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