Sensex today: Stock Market Live Updates: Sensex extends gains, eyes 57K; Nifty above

Drug firm Zydus Cadila on Wednesday said it has received approval from the US health regulator to market Pimavanserin tablets, used in the treatment of certain mental disorders, in the American market.

Price as on 22 Dec, 2021 02:55 PM, Click on company names for their live prices.

Deepak Nitrite board approves raising funds of up to Rs 2,000 cr via a Qualified Institutional Placement (QIP)

Price as on 22 Dec, 2021 02:49 PM, Click on company names for their live prices.

ABB India board okays creating arm to divest turbocharger biz for Rs 310 cr

Gold, silver spot prices

European stocks set to extend rebound

European shares are set to extend yesterday’s rebound, as investors look past possible short-term damage from the highly infectious Omicron virus variant, keeping confidence in the economy’s growth potential. The region’s stock index futures are up 0.3-0.5%, adding to gains in the previous session that saw the commodity-linked and travel stocks help the STOXX score its best day in two weeks.

US Futures off highs; S&P500, Nasdaq Futures in the red

Finally, the much-awaited mega-merger is inked. In the broadcasting space, they would be numero uno and will give them tremendous pricing power especially on the ad revenue front. The investments in content creation would increase as there is increased concentration on both platforms (Sony Liv and ZEE5). With the infusion of additional capital over $1 billion, they could compete aggressively with Amazon & Netflix. There would also be a lot of competition for marquee sports properties. Overall, we see a very positive impact for the combined entity.

– Vivek Menon, co-founder & managing partner, N V Capital on ZEE-Sony merger

FMCG players expect better growth, lesser inflationary pressure in 2022

With a revival in demand and consumption, FMCG companies are looking forward to 2022 with positivity and hopes of sustaining a healthy growth trend across both rural and urban markets while gearing up to cater to the ever-increasing digitally active consumers and tackle the challenge of higher commodity prices. (Source: PTI)

Nikkei edges higher on tech rally but Nintendo, sauce makers cap gains

Japan’s Nikkei share average edged higher on Wednesday, buoyed by a rally in chipmakers and other tech stocks, although gains were capped by weakness in Nintendo and sauce makers. The Nikkei 225 ended the day 0.16% higher after swinging between small gains and losses throughout the session in holiday-thinned trading. The broader Topix added 0.09%.

Sebi chairman Ajay Tyagi on IPO valuation debate

PNC Infratech gets letter of award by NHAI for a project worth Rs 369 crore

JUST IN: ABB India to sell its Turbocharger biz to arm for Rs 310 cr on slump sale basis

Top 10 gainers on NSE

Price as on 22 Dec, 2021 12:39 PM, Click on company names for their live prices.

The construction arm of Larsen & Toubro (L&T) has secured a ‘significant’ order for its Buildings Et Factories business from a reputed developer. Significant orders are within Rs 1,000-2,000 crore.

Price as on 22 Dec, 2021 12:18 PM, Click on company names for their live prices.

Top 10 losers on NSE

Price as on 22 Dec, 2021 12:14 PM, Click on company names for their live prices.

IPO pricing is a critical issue: Sebi chairman

Goldman Sachs India Equity Portfolio acquired 3,76,708 shares at Rs 1392.99 per share on Tuesday

Price as on 22 Dec, 2021 11:53 AM, Click on company names for their live prices.

MSME lending fintech platform, U GRO Capital on Wednesday announced that it has signed a co-lending agreement with Central Bank of India.

Price as on 22 Dec, 2021 11:42 AM, Click on company names for their live prices.

India VIX eases 3% to near 17 level

CMS Info Systems subscribed 48% so far on Day 2

Rupen Jhaveri appointed as Group President at Piramal Enterprises

Price as on 22 Dec, 2021 11:08 AM, Click on company names for their live prices.

JUST IN: PM to hold a meeting to review the Covid-19 related situation tomorrow

Nifty Realty best sectoral performer; all constituents in the green

Indian Oil says fire at Haldia refinery unit kills 3, injures 44

Price as on 22 Dec, 2021 10:48 AM, Click on company names for their live prices.

India Cements soars 9% as Damani increases his stake to 22.7%

Price as on 22 Dec, 2021 10:36 AM, Click on company names for their live prices.

Rupee Update

IN FOCUS: ZEE-SONY DEAL

The positive global backdrop provided by the recovery in the US and European markets might aid the bulls but this is not sufficient to take the markets much higher. Nifty is unlikely to reach near the October high of 18604 anytime soon. Even though FII selling has come down they are likely to press sale if the market goes up meaningfully. Rising inflation and concerns regarding rate hikes in 2022 will continue to be major challenges for emerging markets in the short-term. This scenario can change only if inflation drops sharply signalling the Fed might go slow on tightening.

– Dr. VK Vijayakumar, Cheif Investment Strategist at Geojit Financial Services

LISTING ALERT: Pre-open trade indicates listing at discount for Metro Brands

Smallcap czar Poriju Veliyath says India remains stock pickers’ paradise

Aditya Birla Money to offer preference shares worth up to Rs 80 crore to Aditya Birla Capital

Price as on 22 Dec, 2021 09:41 AM, Click on company names for their live prices.

Battered Paytm gets its first bullish rating from a major broker

Morgan Stanley has started coverage on the digital payments startup with an overweight rating and a price target of 1,875 rupees, which implies 43% upside from Tuesday’s close. It sees attractive risk to reward after the stock dropped to a record low earlier this week, and values the firm at $17 billion.

ZEEL shares wipe of gains, slip nearly 3 per cent on merger with Sony

Price as on 22 Dec, 2021 09:27 AM, Click on company names for their live prices.

Sector Watch: All indices trade higher

Top movers on NSE in opening trade

Price as on 22 Dec, 2021 09:19 AM, Click on company names for their live prices.

OPENING BELL: Sensex gains 340 points, Nifty at 16,870; India Cements jumps 6%, ZEEL 2%

ZEE-Sony merger done; Sony to hold majority stake

After three months of due diligence, Sony Pictures Networks India, a subsidiary of Sony Corp’s Sony Pictures Entertainment, has signed definitive agreements to merge with Zee Entertainment Enterprises even as the latter is embroiled in a legal battle with largest shareholder Invesco over control of the media company.

Pre-open session: Sensex drops 85 points, Nifty50 tests 16,750

SGX Nifty signals a positive start

Nifty futures on the Singapore Exchange traded 71 points, or 0.42 per cent, higher at 16,899, signaling that Dalal Street was headed for a positive start on Wednesday.

Tech View: Nifty50 likely to consolidate going ahead

Nifty50 on Tuesday formed a Doji candle on the daily chart, suggesting indecisiveness among traders. During the day the headline index entered a bearish gap zone of 16,840-966 levels, before seeing some selling pressure in the end. Nifty50 had reached the support zone of 40-week EMA and the weekly lower Bollinger Band after the sharp decline on December 20. Analysts believe the index may trade in a consolidation phase in the coming days.

Dollar out of favour as Omicron leaves currency markets volatile

The dollar edged down again in early Asia on Wednesday, starting a third successive session under pressure as investors favoured riskier currencies and asset classes. The dollar index, which measures the currency against major peers, was last at 96.441 down from as high as 96.994 last week when it was testing a 16 month high.

Hong Kong shares build on rally at open

Hong Kong stocks started Wednesday with gains of more than one percent to extend the previous day’s rally, helped by a bounce in technology firms. The Hang Seng Index climbed 1.09 percent, or 249.80 points, to 23,221.13. The Shanghai Composite Index added 0.21 percent, or 7.55 points, to 3,632.68, while the Shenzhen Composite Index on China’s second exchange edged up 0.26 percent, or 6.63 points, to 2,510.96.

Japan stocks open higher extending US gains

Tokyo stocks opened higher on Wednesday, tracking rallies on Wall Street as global markets recovered from an Omicron-fuelled sell-off. The benchmark Nikkei 225 index was up 0.54 percent or 153.27 points at 28,670.86 in early trade, while the broader Topix index advanced 0.49 percent or 9.65 points to 1,979.44.

Stocks end higher on Wall Street, breaking a 3-day slump

Energy and technology companies led…