Barring pharma, all the major sectoral indexes advanced, with metal rising over 1% having shed over 4% in the previous session.
Asian markets recovered from a mixed start in the last week of the year, with the MSCI Asia ex-Japan index rising 0.23%.
Wall Street equities settled to a moderately higher close on Friday after data showed U.S. consumer spending barely rose in November, while annual inflation increased at its slowest pace in 13 months.
However, demand is probably not cooling fast enough to discourage the Fed from rate hikes next year, which investors fear may end up pushing the economy into a recession.
Capping the gains in domestic equities were also higher oil prices, which rose after Russia said it could cut crude output in response to the G7 price cap on Russian exports. Brent crude hovered around $84. [O/R]
Higher oil prices hurt oil-importing countries like India, where crude constitutes the bulk of the country’s import bill.
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NIFTY ABOVE 18,000 LEVEL
Market LIVE Updates: Sensex jumps 600 pts
These 5 stocks lead gainers in the realty space
Price as on 26 Dec, 2022 11:26 AM, Click on company names for their live prices.
Turkish lira weakens to record low of 18.75 against dollar.
Rajnandini Metal got multiple orders worth Rs 20.45 crore
Price as on 26 Dec, 2022 11:00 AM, Click on company names for their live prices.
BOJ Kuroda shuns near-term chance of exit from easy policy
Source: Reuters
Aurionpro Fintech announces order worth $18 million in the US.
Price as on 26 Dec, 2022 10:37 AM, Click on company names for their live prices.
BUZZING STOCK: ZOMATO
#StocksInNews | Zomato -Snaps 3-day losing streak; At one point in time, stock was up 11% -Biggest single day gain… https://t.co/zmqfwPSPPq
— ET NOW (@ETNOWlive) 1672028604000
Bitter pill! Pharma stocks see profit-taking after sharp rally last week
Price as on 26 Dec, 2022 10:22 AM, Click on company names for their live prices.
Inox Green signs term sheet for acquisition of majority stake in an Independent O&M Wind Service. The Target Company has a fleet of 230+MW majorly operating in South India. With this acquisition, Inox Green enters multi-brand OEM Wind Turbine O&M business.
Price as on 26 Dec, 2022 10:17 AM, Click on company names for their live prices.
Market LIVE Updates: Compuage Infocom to be value added distributor of Bosch for supply of Bosch CCTV surveillance
Price as on 26 Dec, 2022 10:07 AM, Click on company names for their live prices.
Suven Pharmaceuticals announces open offer for acquisition of up to 6,61,86,889 fully paid-up equity shares of face value of Rs 1/- each representing 26.00% of the voting share capital from the Public shareholders of the company.
Price as on 26 Dec, 2022 09:50 AM, Click on company names for their live prices.
The Water & Effluent Treatment Business of L&T Construction has secured order worth Rs 1,000-Rs 2,500 crore from the Tumakuru Industrial Township (TITL).
Price as on 26 Dec, 2022 09:48 AM, Click on company names for their live prices.
SENSEX TODAY LIVE: Index surges 400 points in morning trade
Market LIVE Updates: NDTV shares rise after founders sell stake to Adani
Shares of Indian news broadcaster New Delhi Television Ltd rose over 4% on Monday after founders Prannoy Roy and Radhika Roy said they would transfer their 27.26% stake in the company to the Adani Group. (Source: Reuters)
The market sell off on Friday was the consequence of the cumulative impact of Covid fears, valuation concerns and margin calls in many momentum stocks. It is important to note that the 320 point cut in Nifty was caused on a day when DIIs bought heavily for Rs 3398 crores and FIIs sold only for Rs 706 crores. This means the selling was triggered by HNIs and retail which, in turn, triggered margin calls in momentum stocks that led to steep cuts in these segments. Heavy FII selling in call options in the derivatives segment indicate that recovery will be slow and tough. Long term investors can nibble at high quality stocks in capital goods, telecom, banking and pharma.
– Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
Top gainers and losers in morning trade
Price as on 26 Dec, 2022 09:27 AM, Click on company names for their live prices.
Sector Watch: Baring Nifty Financial Services all sectors open in green
Private equity major Advent International will buy a 50.1% stake in Suven Pharmaceuticals Ltd from its promoter Jasti family and consider merging it with a peer in its portfolio, the Indian drugmaker said on Monday. Suven said Advent would make an additional open offer for up to 26% of the voting share capital held by public shareholders at a price of 495 rupees per share. Shares rose as much as 4.8% to 520 rupees in early trading.
Price as on 26 Dec, 2022 09:24 AM, Click on company names for their live prices.
Rupee opens up 0.11% at 82.7700 per U.S. Dollar; previous close 82.8575
Alembic Pharmaceuticals Receives USFDA Final Approval For Fulvestrant Injection
Price as on 26 Dec, 2022 09:22 AM, Click on company names for their live prices.
Rise in VIX may allow for a pull back, without quite confirming an upside reversal. The 18,000 region is a critical level to such an event, which could again force a turn lower. If such declines do not force beyond 17670 oreven 18800, expect a turn higher again which could aimfor 18,100 or even 18,250.
– Anand James – Chief Market Strategist at Geojit Financial Services
Opening Bell: Sensex, Nifty flat; Suven Pharma jumps 5%, M&M sheds 2%
Pre-open session: Sensex down 100 points; Nifty below 17,840
SGX Nifty signals a positive start
Nifty futures on the Singapore Exchange traded 22 points, or 0.12 per cent, higher at 17,886, signaling that Dalal Street was headed for a positive start on Monday.
Tech View: Nifty forms a long bearish candle this week.
While making lower lows for the last seven trading sessions, Nifty today slipped below the 200-DEMA (double exponential moving average) and formed a bearish candle on the daily scale.
Tokyo shares open higher
Tokyo shares opened higher Monday, lifted by gains on Wall Street last week, though the spread of Covid in China weighed on investor sentiment. The benchmark Nikkei 225 index added 0.49 percent, or 128.75 points, to 26,364.00 in early trade, while the broader Topix index firmed 0.33 percent, or 6.35 points, to 1,904.29.
Wall Street ends up as investors eye data for rate prospects
The S&P 500 closed higher on Friday, in a light trading day ahead of a long weekend, as investors assessed inflation data against rate hike and recession fears while energy shares jumped on higher oil prices.
Rupee slips 3 paise to 82.82 against US dollar
The rupee dipped 3 paise to close at 82.82 against the US dollar on Friday due to firm crude oil prices and steep losses in domestic stocks amid growing concerns about interest rate hikes.
Sensex, Nifty on Friday
Sensex ended 981 points lower at 59,845.29, while Nifty50 ended at 17,806.80 on Friday.
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