Benchmark indices climbed for a second consecutive day on Thursday as traders shrugged off negative headlines on Omicron variant of the coronavirus. Gains in IT, financials and metal stocks, amid strong domestic macroeconomic data, drove the market higher. Indices also bucked the weak sentiments in the international markets. The 30-share pack Sensex rose 776.50 points or 1.35 per cent to close at 58,461.29. The index has surged 1,400 points in two days. Its broader peer NSE Nifty gained 234.75 points or 1.37 per cent to 17,401.65.
!1 New UpdateClick here for latest updates
Sebi asks stock brokers to disclose investors charter, compliant data on websites
Markets regulator Sebi on Thursday asked stock brokers to disclose investors charter as well as data pertaining to complaints they received on their websites. The new guidelines will come into effect from January 1, 2022, the Securities and Exchange Board of India (Sebi) said in a circular. In order to facilitate investor awareness about several activities which an investor deals with such as opening of account, KYC and in-person verification, process for dematerialisation and complaint resolution, Sebi, in consultation with the market participants, has prepared an investor charter for stock brokers.
Rupee slips 12 paise to 75.03 per US dollar
The rupee on Thursday slipped 12 paise to close at 75.03 against the US dollar, weighed by uncertainties over the Omicron variant of the coronavirus. At the interbank foreign exchange market, the local currency opened at 75.06 and witnessed an intra-day high of 74.90 and a low of 75.07 against the US dollar. The local unit finally settled at 75.03, down 12 paise over its previous close of 74.91. The dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.01 per cent up at 96.03.
During H1FY22, MSL’s margin came below the estimate largely due to supply constraints and high input cost. Amidst price rises in commodities like steel, Aluminium and precious metals in the last one year, the company tried to absorb most of it. Therefore, it becomes imperative for the company to pass on some impact to customers by way of car price increase, effective by January 2022. Additionally, the growth in the SUV segment will enhance MSL’s intention to launch 4 new SUVs at 10 lac range by next year to give more options for the existing customers to upgrade and tough competition to its rivals. We expect the demand to pick up gradually by Q4 due to easing commodity costs and semiconductor shortages.
– Vinod Nair, Head of Research at Geojit Financial Services on Maruti price hike
What to expect from Friday’s trade?
— Ajit Mishra, VP – Research, Religare Broking
Irrespective of the weak sentiments in the international markets, domestic indices continued to rise due to gains in IT, financials and metal stocks amid strong domestic macroeconomic data. Fed Chair’s remarks stating a possibility of a faster end to the bond-buying programme and interest rate hike along with the first confirmed case of the Omicron variant in the US, triggered a fresh global sell-off. The Union government’s fiscal deficit of 36.3% of budget estimates in October, is better owing to improved revenue collection.
– Vinod Nair, Head of Research at Geojit Financial Services
Bulls held the upper hand today as Indices sprinted over a percentage led by the IT Index during afternoon trade. As the volatility index cooled off today, we witnessed stock-specific action across sectors in the broader markets buoyed by GDP & GST data together with cooling Energy prices. Advance – Declines showed a marked improvement today with most of the sectoral indices ending in the green.
– S Ranganathan, Head of Research at LKP securities
Out of the 30 Sensex stocks, 28 stocks closed with gains
Sensex gains for the 2nd day in a row, rallies 777 pts (1.35%)
Ola plans IPO in first half of 2022, readies ‘super app’
Indian ride-hailing company Ola plans to go public in the first half of 2022, Chief Executive Officer Bhavish Aggarwal said on Thursday, undeterred by the recent volatility and lackluster listing of some start-ups in the country. Ola, backed by Japan’s SoftBank Group, is also gearing up to create something of a “super app” with plans to broaden its services beyond mobility to include personal finance and micro insurance, Aggarwal told the Reuters Next conference.
Gold, silver spot prices
Agro-chemical firm Crystal Crop Protection Ltd (CCPL) on Thursday said it has completed the acquisition of four hybrid seeds — cotton, mustard, pearl millet and grain sorghum — from global life sciences firm Bayer in India.
Price as on 02 Dec, 2021 02:42 PM, Click on company names for their live prices.
Skipper secured fresh new order of Rs 300 crore for Transmission and Telecom towers from Power Grid Corporation of india (PGCIL) and from various export markets
Price as on 02 Dec, 2021 02:22 PM, Click on company names for their live prices.
Country’s largest lender SBI has joined hands with Adani Capital as a co-lending partner to provide loans to farmers in the country.
Price as on 02 Dec, 2021 02:20 PM, Click on company names for their live prices.
UK shares slide as inflation, Omicron risks grow
UK shares fell on Thursday due to fears around the Omicron coronavirus variant, with the United States confirming its first case of the new strain, while warnings about inflation from major central banks further added to the downbeat mood. The benchmark FTSE 100 index declined 0.8% at 0805 GMT, diverging from its Asian peers, while the domestically focussed mid-cap index fell 0.9%.
Dish TV clarifies on news report: Bharti Airtel in talks to buy majority stake in Dish TV
Dish TV said that the company is not aware of the transaction which has been reported in the above mentioned news report.
NIFTY IT biggest sectoral gainer, rises nearly 1.5%
India VIX eases over 2% to below 19
Hindustan Unilever Limited said it has eliminated coal usage across its operations replacing it with green alternatives such as biomass and biodiesel.
Price as on 02 Dec, 2021 01:39 PM, Click on company names for their live prices.
- Euro Stoxx 50 futures fell 1.3% in early trading on Thursday, indicating Wednesday’s 1.7% gain in the EUROSTOXX , its best day since May, would be reversed, and FTSE futures were down 1.13%
- In contrast, S&P 500 futures rose 0.56% and Nasdaq 100 futures gained 0.49%. Both underlying indexes closed down over 1% on Wednesday.
UK’s Medicines and Healthcare products Regulatory Agency has approved sotrovimab, a Covid-19 treatment which has been developed by GSK and Vir Biotechnology.
Price as on 02 Dec, 2021 01:22 PM, Click on company names for their live prices.
Ola booking crosses 10 lakh scooters, says Reuters; Fiem is major supplier for Ola scooters
Price as on 02 Dec, 2021 12:56 PM, Click on company names for their live prices.
Positive BoP dynamics and RBI’s war chest of FX reserves should ideally help keep a mild upward bias on INR. However, global headwinds amid new virus risk, faster Fed normalization and tighter global financial conditions may imply that FPIs ask for a higher EM risk premium, which could pressure EM assets, including India. Overall, INR performance will be caught between mixed external terms of trade, gradually changing global risk environment and RBI’s FX stance. We will keep an eye on any potential news on India’s inclusion in global bond indices in the coming quarters, which could spur debt flows.
– Emkay Global
Jet Airways is in talks with Boeing & Airbus for a $12 bn order
Price as on 02 Dec, 2021 12:30 PM, Click on company names for their live prices.
Maruti Suzuki announces further price hikes
The cost of company’s vehicles continue to be adversely impacted due to increase in various input costs. Therefore, it has become imperative for the Company to pass on some impact of the above additional costs to customers through a price hike. The price rise has been planned in January, 2022. The increase shall vary for different models.
L&T and ReNew announce partnership to focus on the Green Hydrogen business in India
Price as on 02 Dec, 2021 12:05 PM, Click on company names for their live prices.
Road logistics market in India to reach USD 330 bn by 2025: Report
- The road logistics market in India is expected to grow at a compounded annual growth rate of 8 per cent in the next five years, to reach USD 330 billion by 2025, as per a report.
- This growth will be fueled by factors such as the rapidly growing e-commerce sector and a growing retail sales market, among others, according to ‘Inter-city Logistics Market Study’, released by consulting firm RedSeer’s early stage research arm, RedCore on Thursday.
Top Sensex contributors at this hour
MARKET WATCH: Sensex extends gains, rises 500 points
Mahindra Logistics and Asia-Pacific logistics specialist LOGOS announced a long-term lease agreement for setting up 1.4 million square feet of warehouse facilities in the Delhi-National Capital Region.
Price as on 02 Dec, 2021 11:11 AM, Click on company names for their live prices.
NSE Indices launches new Nifty BHARAT Bond Index
NSE’s index services subsidiary, NSE Indices on Thursday said it has launched one more index under the Nifty BHARAT Bond Index series. The BHARAT Bond Index series follows a Target Maturity Date structure wherein each index in the series measures the performance of a portfolio of AAA rated bonds issued by government owned entities maturing in a specific year. The new index within the Nifty BHARAT Bond Index series is named Nifty BHARAT Bond Index – April 2032. The existing four BHARAT Bond ETFs managed an overall AUM of more than Rs 37,000 crore as on November 30, 2021.
The cryptocurrency market extended gains on Wednesday, despite investors booking profits in Dogecoin. Investors fancied altcoins at lower levels. Barring the Dogecoin and dollar-pegged Tether, all other eight out of the top 10 digital tokens were trading higher. Ethereum rallied 7 per cent, whereas Solana and Polkadot surged 5 per cent.
Lupin Inc., a wholly-owned subsidiary of global pharma major, Lupin has entered into an agreement with TTP pie (The Technology Partnership pie) to acquire the exclusive worldwide rights to develop, manufacture and commercialize Inhalation products using TTP’s soft-mist inhalation technology platform.
Price as on 02 Dec, 2021 10:47 AM, Click on company names for their live prices.
IPO SUBSCRIPTION UPDATES
Tega Industries: 5.92 times
Anand Rathi Wealth: 28%
Check out the top 10 gainers in morning trade
Price as on 02 Dec, 2021 10:37 AM, Click on company names for their live prices.
ICICI Direct recommends Subscribe to Anand Rathi Wealth IPO
ARWL is a play on wealth management business where Ultra HNI segment is witnessing significant growth. Given the fundamentals and growth potential, valuation of (ARWL) looks reasonable, as at upper end of price band, the company is valued at ~7.5% AUM and ~18.7x EPS (annualised FY22E). The closest listed peer IIFL Wealth has over Rs 2.2 lakh crore in AUM and trading at 25xFY22E (consensus) offers healthy growth potential too. We remain positive in the space and assign SUBSCRIBE rating to the IPO.
The index continues its positive trajectory since yesterday. We are still far from restarting the up move. The Nifty needs to trade above 17,400-17,500 for the short-term trend to change in favor of the bulls. Until then the bias continues to be on the downside.
– Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments
RSWM to invest Rs 350 crore for Capex, suggests media report
Price as on 02 Dec, 2021 10:05 AM, Click on company names for their live prices.
Auto sales in November 2021 were impacted by chip shortage in passenger vehicles, light commercial vehicles, and the domestic premium motorcycle segment. The passenger vehicle segment saw healthy inquiries and booking in the festive season and thereby volumes in this segment are expected to improve once the chip shortage situation gets resolved. In the commercial vehicle space, the medium and heavy commercial vehicle segments continued their gradual recovery supported by improved fleet utilization levels.
– Arun Agarwal, Deputy Vice President – Fundamental Research, Kotak Securities.
The construction and engineering player JMC Projects said that it has secured two orders worth Rs 1,795 crore, which includes water supply projects worth Rs 1,085 crore
Price as on 02 Dec, 2021 10:02 AM, Click on company names for their live prices.
In the short run we are in uncharted territory. Improving macros – GDP growth, GST collections, PMI – augur well for markets while rising inflation and its impact on monetary policy normalisation are concerns. Confirmation of the first Omicron case in the US and its presence in 23 countries now is a major concern. This is a sentiment negative for all markets but the markets have the potential to surprise since risk-appetite for equity is high globally. So, any positive news regarding Omicron can push markets up even though risk is high.
– VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
Telecom stocks in focus as SC to hear the one-time spectrum charge case today
Price as on 02 Dec, 2021 09:56 AM, Click on company names for their live prices.
IEX slips 2% as UBS downgrades the stock to Sell from Buy
Price as on 02 Dec, 2021 09:50 AM, Click on company names for their live prices.
Nifty Pharma best sectoral gainer in early trade
> Check out the top performing stocks from the pharma pack
Check out the most active stocks on NSE
Price as on 02 Dec, 2021 09:25 AM, Click on company names for their live prices.
OPENING BELL: Sensex gains 150 points, Nifty tops 17,200; M&M, HDFC gain 2% each
Pre-open session: Sensex gains 250 pts; Nifty at 17,120
SGX Nifty signals a negative start
Nifty futures on the Singapore Exchange traded 122.5 points, or 0.71 per cent, lower at 17,122.50, signaling that Dalal Street was headed for a weak start on Thursday.
Tech View: Nifty50 has support at 17,050
Nifty50 on Wednesday climbed over 1 per cent and formed a bullish candle on the daily chart. Analysts said the buying was seen partly due to short covering in the banking space. They feel the NSE barometer needs to see follow up buying to give any decisive sign of recovery. Analysts see resistance for the index at the 17,300 level while they expect 17,050 to act as immediate support for the index.
Hong Kong stocks drop at open
Hong Kong stocks began Thursday on the back foot again, tracking losses across most of Asia following a late plunge on Wall Street fuelled by news that the United States had reported its first case of the new Omicron variant. The Hang Seng Index fell 0.57 percent, or 134.87 points, to 23,524.05. The Shanghai Composite Index dipped 0.10 percent, or 3.64 points, to 3,573.25, while the Shenzhen Composite Index on China’s second exchange eased 0.15 percent, or 3.67 points, to 2,520.47.
Japanese shares fall on Omicron, Fed worries
Japanese shares fell in early trade on Thursday hit by worries about the Omicron coronavirus variant and a hawkish tilt at the U.S. Federal Reserve, but pared most of these losses on bargain-hunting in quality stocks. The Nikkei average were down 0.54% at 27,780.02, after falling as much as 1.04% earlier. The broader Topix shed 0.40% to 1,929.43 but hovered above Wednesday’s three-month intraday low of 1,914.93.
US stocks reverse early gains to end lower
Another roller-coaster ride on Wall Street whipsawed investors Wednesday as an early market rally reversed course by midafternoon, piling up more losses for stocks. The S&P 500 had been up 1.9% in the early going but the gains gradually gave way to a 1.2% skid. The Dow Jones Industrial Average ended with a 1.3% loss, while the Nasdaq composite fell 1.8%. Both indexes had been solidly higher until the market’s afternoon swoon.
Rupee gains 22 paise against dollar on positive macro data
The rupee rose by 22 paise to close at 74.91 against the US dollar on Wednesday as positive economic data and a weak American currency in the overseas markets boosted investor sentiment. Stronger emerging market currencies, expected foreign fund inflows into IPOs and strong gains in domestic equities also supported the local unit.
Sensex, Nifty on Wednesday
The Sensex rallied 620 points while the Nifty reclaimed the 17,100-level on Wednesday as investors piled into recently-battered banking, finance and energy counters amid a recovery in global equities despite lingering concerns over the Omicron coronavirus variant. The 30-share BSE Sensex rallied 619.92 points or 1.09 per cent to close at 57,684.79. Similarly, the NSE Nifty surged 183.70 points or 1.08 per cent to 17,166.90.
Good morning, dear reader! Here’s something to kickstart your trading day