Market At Close | Broader indices outperform Sensex, Nifty on last day of 2021
Here are some highlights of the last trading session of 2021:
–Nifty Bank, midcap index up 1%
–All NSE sectoral indices in the green; Nifty Metal, Nifty Auto top gainers
–Only 6 Nifty stocks in the red; NTPC, Cipla top losers
–Financial stocks contribute most to Friday’s Nifty gain; HDFC Bank, Kotak Mahindra Bank top index movers
–Market breadth in favour of bulls; advance-decline ratio at 3:1
Closing Bell | Sensex up 460 points at 58,254, Nifty50 above 17,350
The 30-scrip index ended 459.5 points or 0.8 percent higher at 58,253.8 and the broader Nifty50 benchmark settled at 17,354.1, up 150.1 points or 0.9 percent from its previous close.
EaseMyTrip looking for more acquisitions next year
BSE-listed Easy Trip Planners, popularly known as EaseMyTrip, will look at more acquisitions next year, besides growing organically, co-founder Prashant Pitti said. EaseMyTrip announced plans to acquire brands such as Spree Hospitality and YoloBus this year and it wants to expand its non-air business, Pitti said.
Technical Stock Picks | Intellect Design, NIIT, Birlasoft and other stocks analysts recommend now
Equity benchmark Nifty50 is finishing the year 2021 with a return of 24 percent. It is about seven percent from an all-time peak, reached in October. Has the recent sell-off created any short-term opportunities for traders on Dalal Street?
Analysts have handpicked a few stocks to make the most of the current juncture in the market. On their playbook now are ICICI Bank, Mahindra & Mahindra, Intellect Design, NIIT and Phillips Carbon, and other stocks. (Check out the complete list of stocks to buy for the short term now)
Nifty Metal rises 2%, emerges best sectoral performer on NSE
I-T dept widens probe against Chinese mobile manufacturing companies in India
Search operations at Xiaomi, Oneplus, Realme, Vivo facilities have concluded while search operation at Oppo’s premises is still underway. All 5 companies were selling products to distributors via one parent.
Zydus Cadila receives tentative US FDA nod for Pimavanserin capsules
The FDA has tentatively approved Zydus Cadila’s US subsidiary Zydus Pharmaceuticals (USA) Inc. to market Pimavanserin Capsules in the strength of 34 mg, the pharma company announced on Friday. Pimavanserin is an atypical antipsychotic used to treat hallucinations and delusions associated with psychosis caused by Parkinson’s disease.
Oil heads for biggest annual gains since 2009
Oil prices edged down on Friday but were set to post their biggest annual gains in 12 years, spurred by the global economic recovery from the COVID-19 slump and producer restraint, even as infections surged to record highs around the world. Brent crude futures fell 3 cents to $79.50 a barrel at 0718 GMT, while U.S. West Texas Intermediate (WTI) crude futures dropped 10 cents, or 0.1%, to $76.89 a barrel.
Sri Lanka, Indian Oil Corp unit to sign oil tank restoration deal
Sri Lanka will sign a deal with Lanka Indian Oil Corporation (LIOC) to restore 75 oil tanks as the country moves to secure a $500 million fuel credit line from India, its energy minister said on Friday. The island nation is facing dwindling foreign exchange reserves and has nearly $4.5 billion worth of debt repayments in 2022, prompting it to look at innovative ways to bring in foreign exchange.
Aditya Birla Health Insurance gross written premium jumps 39 pc to Rs 764 cr in H1 FY22
Aditya Birla Health Insurance has clocked a 39 per cent jump in its gross written premium during the first half of the current fiscal at Rs 764 crore. The health insurer has also completed five years of its existence recently and covered as many as 16 million (1.6 crores) lives to date.
CMS Info Systems Ltd on Friday listed with nearly 2 percent premium against its issue price of Rs 216. The stock listed at Rs 218.50, a gain of 1.15 percent on the BSE. It further jumped 12.84 percent to Rs 243.75. Speaking to CNBC-TV18, Rajiv Kaul, Executive Vice Chairman, Whole Time Director & CEO of CMS Info Systems said, “In the last two years, our PAT has grown at a cumulative rate of almost 32 percent, including a year in which there was massive COVID impact to the country and to the business.”
Market update | Sensex is up 453.69 points or 0.79 percent at 58,248.01, and the Nifty added 173.80 points or 1.01 percent at 17,377.80.
Market Watch: Jay Thakkar, Marwadi Shares and Finance
– Buy Britannia Industries with a stop loss of Rs 3,534 and a target of Rs 3,702-3,788.
– Buy JSW Steel with a stop loss of Rs 640 and a target of Rs 703.
Market Watch | Hemen Kapadia, KRChoksey Securities
– Buy Info Edge with a stop loss of Rs 100 and a target of Rs 200.
– Buy Britannia Industries with a stop loss of Rs 3,550 and a target of Rs 3,700.
MRC Exim signs an engagement letter to form a JV company
MRC Exim has signed an engagement letter to form a joint venture entity and to enter into a joint venture agreement with Quanto Agroworld for the purpose of entering into the agricultural field for the cultivation of lemongrass across India.
Rupee gains 12 paise to 74.30 against US dollar
The rupee appreciated by 12 paise to 74.30 against the US dollar on Friday, tracking gains in domestic equity markets. At the interbank foreign exchange, the rupee opened strong at 74.35 against the American dollar, then inched higher to 74.30, registering a rise of 12 paise from the last close.
Centre approves 19th tranche of electoral bonds; sale opens on Jan 1
The government on Thursday approved the issuance of the 19th tranche of electoral bonds, which will be open for sale from January 1 to 10. Electoral bonds have been pitched as an alternative to cash donations made to political parties as part of efforts to bring transparency in political funding.
PB Fintech shares jump 5%
Shares of PB Fintech rose 5 percent on the BSE on Friday as the internet-based insurance company approved an investment of up to Rs 700 crore in one or more tranches in its subsidiary Policybazaar Insurance Brokers Private Limited during FY22 and FY23, and up to Rs 299.99 crore in subsidiary Paisabazaar Marketing and Consulting Private Limited.
B&K Securities initiates coverage on Nazara Tech with ‘buy’ rating
The brokerage has assigned a target price of Rs 3,287 to Nazara Technologies. The company’s market leadership position across verticals is expected to enable robust revenue growth over the next decade as the gaming ecosystem continues to evolve, B&K Securities said.
Nazara Technologies shares were flat at Rs 2,301.1 apiece on BSE in afternoon deals.
CNBC-TV18 Exclusive | GST Council unanimously decides to defer hike rate on textiles from 5% to 12%, say sources
The matter will be discussed again in the next meeting of GST Council for the future roadmap, they said.
The proposed hike in GST on textiles was to come into effect from January 1.
Motilal Oswal initiates coverage on Indigo Paints with ‘buy’ rating
Motilal Oswal Financial Services has initiated coverage on Indigo Paints with a ‘buy’ rating and a target price of Rs 2,270. (Read more)
Indigo Paints shares were up 10.7 percent at Rs 2,150.2 apiece on BSE, having surged as much as 15.7 percent earlier on Friday.
Worst over for Bank Nifty, positive on pharma, IT indices: Goldilocks Premium Research’s Gautam Shah
Gautam Shah, Founder and Chief Strategist at Goldilocks Premium Research, believes the worst might be over for the Bank Nifty. “In two years, the Bank Nifty hasn’t done anything substantial. But now, there are concrete indications on the charts that possibly the worst could be over. All we need is a confirmation past 35,500. Once we get that, you could see a large move on the Bank Nifty all the way back to 37,500-38,000 levels and even beyond,” he said. (Read more)
Rollover Data | January F&O series begins with 79% rollover from December series
Dalal Street began the January futures & options (F&O) series on Friday, a day after the Nifty50 index ended the December series with a loss of 332.3 points or 1.9 percent. That was the biggest fall in a monthly series since March 2021. (Read more on rollover data)
GST Council Meet | Tamil Nadu Finance Minister says proposed hike on textile could not have come at more inopportune time
Car Sales | Auto stocks in focus ahead of monthly sales data
The Nifty Auto index was up 1.4 percent around noon, and was among the top sectoral gainers on NSE.
Maruti Suzuki was up two percent. Tata Motors, Hero MotoCorp, Ashok Leyland, Mahindra & Mahindra and TVS were up between 0.9 percent and 1.8 percent.
Like ICICI Bank, SBI, Federal Bank, Axis Bank: Jigar Mistry
Jigar Mistry, Co-Founder of Buoyant Capital, said one should get positions in banking names. “We own and like ICICI Bank, SBI, Federal Bank and Axis Bank the most,” he said.
“We own Gujarat Fluorochemicals and Sudarshan Chemical Industries. For us, fluoro chemistry offers a lot of upside in our opinion. SRF and Navin Fluorine International are the ones that have been going up a lot,” he added.
Oil prices rise 60% in 2021
Crude oil prices have gained nearly 60 percent in 2021. Dayanand Mittal, Oil and Gas Analyst at JM Financial Institutional Securities, said petrol prices should normalise after March-April. He said crude oil prices in the near-term should stay supportive but should moderate from a medium- to long-term perspective. He likes Indraprastha Gas, Gujarat Gas and Mahanagar Gas. (Read more)
It will be a stock-specific market for some time: Siddarth Bhamre
Siddarth Bhamre, Director-Alternate Investment & Research at InCred Equities, believes it is going to be a stock-specific market for the time to come. “We should wait and see how bigger and heavyweight names like HDFC Bank, ICICI Bank and Axis Bank stay at to gauge how Bank Nifty would move, and even in larger stock like Reliance Industries, there is correction not backed by any fresh formation of shorts. It is just long unwinding. So these heavyweights are correcting because of long unwinding,” he said.
“Heavyweights in IT are doing well; TCS and Infosys rollovers are good. There has been short covering. Other heavyweights like Wipro and HCL Tech are going up because of formation of long positions. L&T is doing well. We are in a corrective market where we are still not in a bearish market,” he added.
Disclaimer: Network18, the parent company of CNBCTV18.com, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.
Buy Aurobindo Pharma, Asian Paints: Manish Hathiramani
Here are two trading calls from Manish Hathiramani of Deen Dayal Investments:
–Buy Aurobindo Pharma for a target of Rs 780 with a stop loss at Rs 695
–Buy Asian Paints for a target of Rs 3,475 with a stop loss at Rs 3,250