Stock Market Today: At 8:21 am, the SGX Nifty futures traded0.09% higher at 13,184.80.
The S&P BSE Sensex and NSE Nifty 50 indexes ended Thursday's rangebound session on a flat note but closed at record highs. Gains in Maruti Suzuki, Asian Paints, State Bank of India, Bajaj Finserv and HCL Technologies were offset with losses in HDFC Bank, Infosys, Tata Consultancy Services, HDFC and Axis Bank. The Sensex traded in a range of 402 points and Nifty 50 index touched an intraday high of 13,216.60 and low of 13,107.90. PSU banking, metal, pharma and auto stocks witnessed strong buying interest while information technology, private banking and financial services stocks witnessed faced selling pressure. The Sensex ended 15 points higher at 44,632.65 and Nifty 50 index advanced 20 points to close at 13,134.
Here are highlights of Thursday's trading session (December 3):
Globus Spirits Surges 15% To Hit Fresh 52-Week High
Shares of liquor maker Globus Spirits rose as much as 15 per cent to hit fresh 52-week high of Rs 354 on heavy volumes.
As many as 37,000 shares changed hands on the BSE compared with an average of 14,000 shares traded daily in the past two weeks.
Burger King IPO Subscribed Nearly 7 Times On second Day Of Issue
Burger King shares continue to witness strong demand for its shares as the issue was subscribed 6.9 times as of 3:00 pm.
Key IPO highlights to watch:
- Retail portion subscribed 16 times
- Portion for non-institutional investors subscribed 0.84 times
- Portion for qualified institutional buyers subscribed 0.82 times
Nifty Faces Resistance Around 13,150: HDFC Securities
"The short term trend of Nifty continues to be positive with range bound action. The market is expected to face stiff resistance around 13,150 or slight higher in the coming sessions. A sustainable move above this area could open some more upside for the market. A lack of strength to sustain around 13,150 levels is expected to result in another one day sharp drop in the index from the highs. Immediate support is now at 12,980," Nagaraj Shetti, technical research analyst at HDFC Securities.
PSU Banking Shares Witness Strong Buying Interest
State-run banking shares were witnessing strong buying interest as the Nifty PSU Bank index rose nearly 5 per cent.
Top gainers in PSU banking space:
- Bank of Baroda up 8%
- Indian Bank up 7.2%
- Punjab National Bank up 5.3%
- Central Bank of India up 4.87%
- Union bank up 4.4%
Market LIVE: Market Breadth Remains Positive On BSE
The overall market breadth was extremely positive as 1,910 shares were advancing while 943 were declining on the BSE.
F&O Check: Nifty 13,200 Call Most Active Nifty Option Contract On NSE Ahead Of F&O Expiry
Nifty 13,200 call option contract expiring today was among the most active Nifty option contracts on the NSE.
Premium on the contract plunged 75 per cent to Rs 5.65, as many as 39.44 lakh shares were added to the open interest which stood at over 71 lakh shares.
Adani Power, JSW Energy Among Top Gainers In Mid-Cap Space
Mid-cap shares were witnessing good buying interest in an otherwise rangebound trading session.
Here are top gainers from mid-cap space
Top mid-cap gainers:
- Adani Power up 14%
- JSW Energy up 10%
- Indian Bank up 7.56%
- Canara Bank up 5.91%
- Oberoi Realty up 5.35%
Market LIVE: Mid- And Small-Cap Shares Outperform Larger Peers
Mid- and small-cap shares were outperforming their larger peers as S&P BSE MidCap index and S&P BSE SmallCap indexes rose 0.7 per cent each.
Maruti Suzuki Surges Over 7%, Hits New 52-Week High On BSE
Shares of Maruti Suzuki rose as much as 6.7 per cent to hit 52-week high of Rs 7,686.85 as trading volumes jumped.
As many as 1.8 lakh shares changed hands on the BSE compared with an average of 46,000 shares traded daily in the past two weeks.
Services Industry Lost Some Steam In November
Growth in India's dominant services industry lost some momentum in November as demand weakened, a private survey showed on Thursday, clouding hopes of a quick economic recovery from the COVID-19 pandemic's blow.
Asia's third-largest economy, which fell into recession last quarter for the first time since at least 2012, is expected to recover only modestly early next year and won't reach pre-COVID-19 levels any time soon.
The Nikkei/IHS Markit Services Purchasing Managers' Index dipped to 53.7 in November from October's 54.1 but still held well above the 50-mark separating growth from contraction for a second month.
State Bank Of India Surges On Spike In Volumes; Rs 260 Call Option Surges 50%
Shares of country largest bank rose as much as 5 per cent to hit an intraday high of Rs 259 as trading volumes spiked.
As many as 36 lakh shares changed hands on the BSE compared with an average of 34 lakh shares traded daily in the past two weeks.
State Bank of India's Rs 260 strike price call option contract surged 53 per cent to Rs 11. A total 1.14 lakh shares were added to the open interest which stood at 52.35 lakh shares.
LIVE Markets: Blue Star Surges 5% On Heavy Volumes
Shares of air conditioner maker Blue Star rose 5.5 per cent to Rs 820 on the back of heavy volumes.
As many as 1.3 lakh shares changed hands on the BSE compared with an average of 5,900 shares traded daily in the past two weeks.
Market LIVE F&O Check: Nifty Bank 30,000 Call Most Active Ahead Of F&O Expiry
Nifty Bank 30,000 call option contract expiring today was the most active option contract on the National Stock Exchange.
Premium on the contract slumped 76 per cent to Rs 11.60. Over 12.65 lakh shares were added to the open interest which stood at over 25 lakh shares.
Matrimony.Com Locked In 10% Upper Circuit On Heavy Volumes
Shares of matrimony services provider Matrimony.Com were locked in a 10 per cent upper circuit at Rs 795 on the back of heavy trading volumes.
As many as 5.14 lakh shares changed hands on the BSE compared with an average of 14,000 shares traded daily in the past two weeks.
Nifty Off Day's High; IT, Financial Serives Shares Decline
The Nifty 50 index came off intraday highs owing to weakness in information technology and financial services shares. Nifty 50 index was trading below 13,150.
Top Nifty losers:
- SBI Life
- UltraTech Cement
- Power Grid
- Bajaj Auto
Wipro Bags Contract From Verizon To Develop Cloud Services
Wipro has announced that it has bagged a multi-year contract from Verifone, a global leader in payments and commerce solutions, to drive agility across its cloud services offerings. Wipro will develop new features, capabilities and interfaces for Verifone's Cloud Services offerings, enabling seamless and flexible transaction processing for the company, the Bengaluru-headquartered Wipro said in a regulatory filing to the stock exchanges.
Market Check: Maruti Suzuki, State Bank of India, NTPC Among Top Nifty Gainers
The markets were trading firmly higher ahead of the weekly expiry of index futures and option contracts due later today.
Top Nifty gainers:
- Maruti Suzuki up 4.2%
- State Bank of India up 4.13%
- NTPC up 3.85%
- Tata Steel up 3.09%
- Hindalco up 2.8%
Top Nifty losers:
- SBI Life down 1.78%
- UltraTech Cement down 1.42%
- Infosys down 1.26%
- Bajaj Auto down 1.25%
- HDFC down 1.15%
HDFC Life Witness Heavy Trading Volumes
Shares of HDFC Life rose 0.8 per cent to Rs 641.75 on heavy volumes.
As maany as 3.71 crore shares changed hands on the BSE compared with an average of 1.97 lakh shares traded daily in the past two weeks.
HDFC Bank Falls After RBI Asks Bank To Stop Digital Activities
Shares of HDFC Bank fell as much as 1.33 per cent to hit an intraday low of Rs 1,388 on the BSE after the private sector lender said the Reserve Bank of India (RBI) has asked it temporarily stop all launches of its upcoming digital business-generating activities and sourcing of new credit card customers after outage at its data centre which impacted operations last month.
"RBI has issued an order dated December 2, 2020, to HDFC Bank Ltd with regard to certain incidents of outages in the internet banking/ mobile banking/ payment utilities of the bank over the past two years, including the recent outages in the bank''s internet banking and payment system on November 21, 2020, due to a power failure in the primary data centre," HDFC Bank said in a regulatory filing.
Market LIVE: Market Breadth Remains Extremely Bullish
Market breadth was extremely positive as 1,792 shares were advancing while 753 were declining on the BSE.
PSU Banking Shares Surge, Paced By Indian Bank, Canara Bank
State-run lenders were witnessing buying interest in today's session as the Nifty PSU Bank index rose 4.58 per cent.
Top gainer in PSU Banking space:
- Indian Bank up 7%
- Canara Bank up 6%
- Bank of Baroda up 6%
- Punjab National Bank up 5%
- Bank of Maharashtra up 4%
- State Bank of India up 4%
Market LIVE: All 11 Sector Gauges Compiled By NSE Trade Higher
Buying was visible across sectors as all the 11 sector gauges compiled by the National Stock Exchange were trading higher led by the Nifty PSU Bank index's 5 per cent gain.
Here is look at the sectoral indices:
- Nifty Bank up 1.07%
- Nifty Auto up 1.17%
- Nifty Financial Services up 0.65%
- Nifty FMCG up 0.01%
- Nifty IT up 0.04%
- Nifty Media up 1.91%
- Nifty Metal up 1.80%
- Nifty Pharma up 0.09%
- Nifty PSU Bank up 4.93%
- Nifty Private Bank up 0.65%
- Nifty Realty up 0.74%
IPO LIVE Updates: Burger King IPO Subscribed 3.4 Times On Second Day
Burger King IPO was going strong on the second day of subscription as well as it was subscribed 3.4 times.
Here are details of Burger King IPO subscription:
- Retail portion subscribed 9.08 times
- Non-institutional investors' portion subscribed 0.2 times
- Portion reserved for qualifies institutional buyers subscribed 0.02 times
Market LIVE: Metal Stocks Witness Strong Buying Interest
Metal stocks were witnessing good buying interest in today's session with Nifty Metal index advancing nearly 2 per cent.
Top gainer in metal space:
- Hindalco up 3.5%
- Tata Steel up 2.8%
- SAIL up 2.5%
- Midhani up 1.9%
- NMDC up 1.7%
Nifty Faces Resistance At 13,150, Says Angel Broking
"13,150 is the immediate resistance to watch and after surpassing it, we may see an extension of the move towards 13,225-13,300 levels. On the flipside, 13,000-12,960 zone would be seen as immediate support which if breached, could lead to a healthy profit booking," Sameet Chavan, chief analyst-technical and derivatives, Angel Broking said in a note.
Infosys Launches Learning Initiative For People With Disability; Stock Down Almost 1%
Infosys has announced an initiative to improve digital accessible learning experiences for people with disability. This announcement builds on Infosys' ongoing commitment to building platforms and infrastructure for a diverse and inclusive workplace. The stock, is however, down 0.7 per cent to Rs 1,133.05.
Wipro Shares Firm Up After Bagging Contract From Verifone
Wipro shares edged higher by 0.5 per cent at Rs 363 after the software major bagged a multi-year contract from Verifone for its cloud services. Wipro will develop new features, capabilities and interfaces for Verifone's Cloud Services offerings, enabling seamless and flexible transaction processing for the company.
Metal And Oil Marketing Companies Are Seeing Buying Interest
Metal and oil marketing company stocks are seeing buying interest. In the metal space, Hindalco and Tata Steel gained around 2 per cent each; Among oil marketing companies, GAIL, BPCL and ONGC are trading higher by around a per cent each on the BSE.
Sensex, Nifty Inch Higher In Early Trading
The benchmark indices have inched higher in early trading. The BSE Sensex is at 44,705.60, higher by 94.68 points and the Nifty is at 13,151.60, up 37.85 points or 0.28 per cent. The broader markets are out-performing their larger peers, the BSE Midcap index has strengthened by 0.81 per cent to 17,306.21 and the BSE Smallcap index has added 0.7 per cent to 17,258.01.
RBI Monetary Policy Review Meeting Underway
The Reserve Bank of India's Monetary Policy Committee is due to release a statement at the end of a scheduled, bi-monthly review on Friday. The central bank is widely expected to keep the key interest rates on hold, amid uncontrollably high inflation and economic concerns.
Britain First Western Country To Approve Coronavirus Vaccine
Britain became the first Western country to approve a COVID-19 vaccine, with 8,00,000 doses of the Pfizer and BioNTech vaccine available for those at high risk starting next week.
The US Food and Drug Administration is holding its advisory committee meeting next week, while New York Governor Andrew Cuomo has said the state's first delivery, enough for 1,70,000 residents, is expected on December 15.
Market LIVE: Asian Share Markets Mixed Following Choppy Day On Wall Street
Equity markets elsewhere in Asia moved in a mixed manner, following a choppy day on Wall Street trade, thanks in part to a disappointing US jobs report.
MSCI's broadest index of Asia-Pacific shares outside of Japan were barely changed following two straight days of gains. Japan's Nikkei was 0.2 per cent weaker while South Korea's KOSPI was flat. Chinese shares opened a tad lower, with the blue-chip CSI300 index off 0.03 per cent.
Market LIVE Updates: SGX Nifty Indicates Positive Opening For Domestic Markets
Domestic stock markets are likely to start Thursday's session on a positive note, a day after benchmark indices Sensex and Nifty took a breather from record highs with a flat close. The Singapore Exchange (SGX) Nifty futures- an early indicator of the National Stock Exchange's Nifty 50 index rose as much as 0.11 per cent to touch 13,187.20 ahead of the opening of Indian markets.
At 8:21 am, the SGX Nifty futures traded 12.50 points - or 0.09 per cent - higher at 13,184.80.