The domestic benchmark indices traded on a tepid note ahead of the inflation data in the US. Moreover, continuous FII selling also hurt the sentiments on Dalal Street. Auto and pharma stocks remained stock in a tepid market. Meanwhile, shares of Star Health listed at 6% discount while RJ-backed Metro Brands IPO opened for subscription.
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PowerGrid Corp board to consider interim dividend on Dec 15
MINDA partners with FRIWO AG to further accelerate its electric vehicle products initiatives
Price as on 10 Dec, 2021 05:31 PM, Click on company names for their live prices.
Global markets eased off ahead of US inflation data and disappointing GDP numbers from UK. As expected markets are now in a consolidative mode and awaiting fresh triggers for next leg of upmove. Traders advised to keep ‘buy on dips’ strategy and remain stock specific as action is being witnessed in the broader market.
– Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services
‘US inflation and central bank moves likely to influence the course of the markets’
— Joseph Thomas, Head of Research, Emkay Wealth Management
The fx market has been very volatile this week, with USDINR spot breaching the highest level since June 2020. The move suggests that the fx market is pricing in next week’s hawkishness from Fed. Also, there are expectations that tonight’s US CPI data will come higher than expected, acting as a catalyst to the dollar rally and making it a big fiscal and monetary concern. A hotter inflation would put pressure on the Fed to not just be aggressive with tapering the quantitative easing but also considering rate hikes next year. So next week in USDINR spot, we expect it to trade within 75.50-76.50 with a positive bias.
– Currency Desk of Emkay Global Financial Services
What to expect from Monday’s session?
— Ajit Mishra, VP – Research, Religare Broking
Indian benchmark indices traded with cuts to close flat following weak sentiments in the global market as the market awaits the release of Indian and US November inflation numbers. Losses in financial and IT sectors pressurised indices lower while positive realty, auto and metal stocks helped in erasing losses along with strong support from mid and small caps. Asian and European indices were trading weak ahead of the US inflation data release as the market expects inflation levels to remain elevated.
– Vinod Nair, Head of Research at Geojit Financial Services
Top 5 gainers & losers in today’s session
Price as on 10 Dec, 2021 03:44 PM, Click on company names for their live prices.
Sector Watch: Media & PSU Bank top sectoral gainers
Sensex Heatmap: Top gainers & losers today
CLOSING BELL: Sensex recovers 372 points to end 20 points down; Nifty holds 17,500; IDBI Bank surges 11%, Asian Paints 3%
We continue to see momentum going forward and e-commerce has become a 12% contributor to our sales. We are also witnessing strong demand in our stores
– Farah Malik, CEO & MD, Metro Brands
Retail support to buoy stocks in 2022 but lag on vaccines, stretched govt finances risks: Nomura
Following a stellar showing in 2021, pricey valuations are the biggest concern surrounding Indian equities, Nomura said in its Asia-Pacific Equity Strategy Outlook for 2022. “High earnings growth expectations do not leave much room for disappointment; slowing retail trading participation takes one support away from the market; sticky core inflation raises risk of higher policy rates (our team pencils in 100bp of policy rate hikes in 2022 starting April),” the firm said in its report.
Sun Pharma Advanced Research Company announced that an abstract on updated safety and efficacy outcomes of vodobatinib in refractory chronic myeloid leukemia (CML) subjects has been selected for oral presentation at the 63rd American Society of Hematology (ASH) Annual Meeting.
Price as on 10 Dec, 2021 02:18 PM, Click on company names for their live prices.
The deal street of the real estate market is expected to be robust in the year 2022. The low home loan interest rate regime is keeping the residential asset class in preference. Despite the markets being in red, the realty index has shown remarkable resilience during the last trading day of the week. The realty index is expected to continue its upward trend in the medium to long term.
– Dhaval Ajmera, Director, Ajmera Realty & Infra India
Top 5 losers on NSE in afternoon session
Price as on 10 Dec, 2021 02:09 PM, Click on company names for their live prices.
Trident sends discount gift vouchers to about 15 lakh shareholders
Spreading year-end cheer among its family of about 15 lakh Shareholders, Ludhiana based textile giant Trident Group has announced an exclusive discount on all its products on www.myTrident.com. This special offer is valid from 10th December, 2021 until 2nd January, 2022 wherein each Shareholder can avail Rs 2,000off on a minimum purchase of Rs 5,000 and Rs 4,000 off on a minimum purchase of Rs 10,000.
Should you sell Star Health or hold it for long-term gains?
The better-than-expected listing has kept investors on toes. Many had kept away from the issue citing expensive valuation and losses. Now they are eyeing to bet on the health play of the stock. Market analysts and experts are suggesting IPO applicants to hold the shares and asking new investors to buy Star Health at correction if they have a long-term perspective.
UK economy almost flat-lined in October, adding to rate hike doubts
Britain’s economy barely grew in October, even before the emergence of the Omicron coronavirus variant, further denting expectations that the Bank of England will raise interest rates next week for the first time since the pandemic struck. GDP edged up by a weaker than expected 0.1%, slowing sharply from monthly growth of 0.6% in September. That meant the economy remained 0.5% smaller than in February 2020, just before Britain went into its first Covid-19 lockdown, the Office for National Statistics said on Friday. “We’ve always acknowledged there could be bumps on our road to recovery,” finance minister Rishi Sunak said.
Passenger vehicles sales dip 19% in Nov as chip shortage woes continue: SIAM
- The passenger vehicle (PV) dispatches last month stood at 2,15,626 units, down 19 per cent from 2,64,898 units in November 2020.
- Total two-wheeler sales declined sharply by 34 per cent to 10,50,616 units last month from 16,00,379 units in the year-ago period.
- Total three-wheeler dispatches stood at 22,471 units, down 7 per cent from 24,071 units in November 2020.
- Total automobile sales across categories drooped to 12,88,759 units last month compared to 18,89,348 units in the year-ago period.
Nithin Kamath of Zerodha urges feedback to SEBI on algo trading platforms
It would really help if you could send in your feedback and suggestions. The link to the consultation paper is avai… https://t.co/4hBTIigXh6
— Nithin Kamath (@Nithin0dha) 1639107010000
The Company has temporarily closed down manufacturing activities at its plant located in Behror, Rajasthan, upon receipt of directions on December 09, 2021 from Commission for Air Quality Management in National Capital Region and Adjoining Areas.
Price as on 10 Dec, 2021 01:12 PM, Click on company names for their live prices.
Lupin announces launch of its diagnostics business
Price as on 10 Dec, 2021 01:02 PM, Click on company names for their live prices.
“The market seems to have a clear sense that the real estate cycle that turned from the festive season is a durable one and that will continue for several years. In the cities we cover, we see the residential demand come back in a big way, and sales in several cities are hitting decadal highs. We expect the demand to become broad-based as the cycle progresses. We are also witnessing pricing power come back in the developers’ hands combined with strong volumes. This has led to a rerating of the sector, which is driving the realty index.”
– Sharad Agrawal, Executive Director-Capital Markets, Knight Frank India
Sensex extends decline, down over 350 points
MapmyIndia IPO subscribed 3x on Day 2; retail portion booked 5x
The Rs 1,039.61 crore IPO of CE Info Systems (MapmyIndia) saw a solid response from investors on the second day of the bidding process. The issue was subscribed 2.95 times by 12.30 pm, thanks to a strong buying from retail bidders and HNI investors. It saw applications for 2,07,89,818 shares against the issue size of 70,44,762 shares, the data from BSE suggested.
Nifty Media rises over 1%, best performing sector at this hour
BSE Realty hits 4,000 mark; sees profit booking thereafter
BSE Realty on Friday crossed the 4,000 level thanks to bullish outlook for realtors. Sharad Agrawal,…
Read More: CLOSING BELL: Sensex recovers 372 points to end 20 points down; Nifty50 holds 17,500;