Closing Bell
The BSE midcap index increased 1 percent and the smallcap index added 0.7 percent.
Indian Market
FII AND DII
| FII Bought | 3,632.30 Cr |
| DII Sold | 434.02 Cr |
Stock Market News
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- BSE Information Technology index rose 0.4 percent driven by Cressanda Solution, Genesys International Corporation, Affle India:
- BSE Power index up 0.4 percent boosted by Tata Power, BHEL, Siemens:
- Nifty PSU Bank index up 1.3 percent led by Jammu & Kashmir Bank, Bank of India, Central Bank of India:
- Sensex has taken 549 trading sessions to reach to 70,000 from 60,000
- IREDA zooms another 17%, up 160% from IPO price
- Siemens Energy sells 18% share in Siemens India to Siemens Germany.
- Relaxo Footwears declared lowest bidder for 30 acres property lot in Rajasthan.
- Supreme Court agrees to hear bankruptcy plea against Zee founder: Bloomberg.
- Life Insurance Corporation of India has got communication/ demand order for collection of GST along with interest and penalty for Rs 183 crore for Telangana state.
- IPO Watch: INOX India’s ₹1459 Cr IPO to launch on Dec 14 | Price band established at ₹627-660/share.
- Piramal Pharma Large Trade | 61.6 lakh shares (0.5% equity) worth Rs 78 crore change hands at an average of Rs 127.5 per share, reported CNBC-TV18.
- Cantabil Retail climbs 2% as BoFA Securities Europe SA acquires up 2.87% stake.
- Mazagon Dock shares up more than 3% on Rs 1,145-cr deal win from ONGC.
- Max Healthcare jumps on Rs 940-cr takeover of Lucknow’s Sahara Hospital.
- Swan Energy Large Trade | 10 lakh shares worth Rs 46 crore change hands at Rs 461 per share in pre-open block window, reports CNBC-TV18.
- Sheetal Universal stock listings with 7% premium over the IPO price on NSE SME
- Blue Dart Express subsidiary to acquire 2 leased aircrafts for Rs 40 crore
- Goldman Sachs takes 2.37% stake in Pricol
- Bank of India concludes its Rs 4,500 crore worth QIP, offer subscribed 4.11 times
- Softbank-owned business departs Zomato by selling remaining Rs 1,127.5 crore shares
- PSP Projects emerges as lowest bidder for project of Rs 296 crore in Ahmedabad
- Goldman Sachs Funds offloads 0.8% investment in Mahindra Logistics
- GQG Partners acquires Rs 1,671.5 crore shares in GMR Airports Infrastructure
- India likely to overtake Hong Kong as sixth largest stock exchange
- Accent Microcell IPO subscribed 28.77 times on first day of bidding
| SENSEX | 102.93 | +0.15% |
69,928.53 |
| NIFTY50 | 25.10 | +0.12% | 20,994.50 |
| BANK NIFTY | 22.25 | +0.05% | 47,284.25 |
INDIAN MARKET MOVERS
| UPL | 17.20 2.94% | Dr Reddys Labs | -290.40 -5.04% |
| UltraTechCement | 257.35 2.73% | Cipla | -16.80 -1.38% |
| Adani Enterpris | 33.65 1.19% | Axis Bank | -14.70 -1.30% |
| LTIMindtree | 61.95 1.09% | BPCL | -4.95 -1.05% |
| Bajaj Auto | 62.70 1.03% | M&M | -16.35 -0.98% |
News Updates
India set to overtake Hong Kong as seventh largest stock exchange
India’s stock market is expected to surpass Hong Kong to become the world’s seventh-largest, underscoring the excitement surrounding the economic potential of the world’s most populous nation, the Financial Times said.
The overall market value of all listed businesses in India stood at $3.7 trillion at the end of October, just lagging Hong Kong’s $3.9 trillion, according to figures from the World Federation of Exchanges, a trade body.
The surge in Indian stock prices in November, fueled by growing investor confidence following the better-than-expected performance of the ruling Bharatiya Janata Party in state elections and robust macroeconomic indicators, has set the stage for the country to secure the seventh-largest position globally, behind the New York Stock Exchange, Nasdaq, Shanghai, Euronext, Japan, and Shenzhen.
FPIs spend Rs 26,505-crore in equities in 1st six sessions of Dec
Foreign portfolio investors (FPIs) poured Rs 26,505 crore into the Indian equities markets in the first six trading sessions of this month on prospects of political stability after the BJP surged to power in three major states and steady economic development.
This occurred followed a net investment of Rs 9,000 crore in October. Before this, offshore investors withdrew 39,300 crore in August and September, statistics with the depositories indicated. Going forward, FPI inflows are anticipated to continue, V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said.
According to the report, FPIs made a net investment of Rs 26,505 crore in Indian shares in this month (until December 8). Kislay Upadhyay, the founder of FidelFolio Investments, linked the FPI inflows to the outcome of significant state elections that suggested political stability going forward.
Inox India IPO will open on December 14, ending on December 18
Cryogenic equipment producer Inox India has chosen to launch its initial public offering on December 14. This would be the third IPO opening for subscription next week following Doms Industries and India Shelter Finance Corporation.
The anchor book of the public issue will be opened for a day on December 13, while the offer will be ending on December 18. The pricing band for the deal will be published on December 11. The initial public issuance by InoxCVA comprises of simply an offer-for-sale of 2.21 crore shares by existing shareholders including promoters. Siddharth Jain, Pavan Kumar Jain, Nayanatara Jain, Ishita Jain, and Manju Jain are amongst selling shareholders in the OFS.
Mcap of seven of top-10 most valued corporations added Rs 3.04 lakh crore; HDFC Bank, LIC biggest gainers
The aggregate market valuation of seven of the 10 most valued corporations gained Rs 3,04,477.25 crore last week, with HDFC Bank and LIC emerging as the top gainers amid an overall upbeat trend in stocks.
Last week, the BSE benchmark rose 2,344.41 points or 3.47 per cent. On December 8, the 30-share BSE Sensex surged 303.91 points, or 0.44 per cent, to set its new top of 69,825.60. The index achieved the greatest intra-day level of 69,893.80. HDFC Bank, Life Insurance Corporation of India (LIC), ICICI Bank, Tata Consultancy Services, and Reliance Industries were among the corporations that achieved additions in their market valuation.
HDFC Bank’s worth jumped by Rs 74,076.15 crore to Rs 12,54,664.74 crore. The market capitalization (mcap) of Life Insurance Corporation of India soared by Rs 65,558.6 crore to Rs 4,89,428.32 crore at closing on December 8. LIC had recaptured the Rs 5 lakh crore-mark after the shares of the company achieved a 52-week high on the market on December 7.
China’s consumer prices fall quickest in 3 years, factory-gate deflation deepens
China’s consumer prices fell the fastest in three years in November and factory-gate deflation deepened, reflecting rising deflationary pressures as weak domestic demand casts doubt on the economic recovery.
The consumer price index (CPI) declined 0.5 percent both from a year earlier and compared with October, data from the National Bureau of Statistics (NBS) indicated on December 9. That was deeper than the median estimates in a Reuters survey of 0.1 percent reductions both year-on-year and month-on-month. The year-on-year CPI drop was the sharpest since November 2020.
The results add to recent mixed trade data and industrial surveys that have kept alive calls for extra policy help to shore up GDP.
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Force Motors announces August production of 3,032 automobiles.
Power Mech Projects climbs more than 2% after receiving a Rs 625 crore order.
Hitachi Energy India rises nearly 4% after receiving an order.
Quant Mutual Fund invests Rs 86 crore in JM Financial, while Valiant Mauritius Partners sells 0.8% of its holding.
Baring Private Equity sells Rs 34.7 crore in PG Electroplast shares.
Small Cap World Fund and New World Fund sell Rs 884.43 crore in Shriram Finance shares.
Nazara Technologies will offer 57.42 lakh preferential shares to SBI Funds at Rs 714 per share.
Cochin Shipyard Large Trade | According to CNBC-TV18, 8.6 lakh shares (0.7 percent e
Data from China | Exports were down 8.8% in August, while imports were down 7.3% year on year.
Indian Railways awards Responsive Industries a contract for the Garib Rath Initiative.
CNBC-TV18 reported that Bikaji Foods International Large Trade | 14.1 lakh shares (0.6 percent equity) worth Rs 71.3 crore change hands at Rs 507 per share.
PVR INOX stock rises as SRK’s ‘Jawan’ hits theaters, and the industry anticipates a blockbuster opening.
L&T rises on rumours of a possible order from Saudi Aramco for a gas project.
Varroc Engineering to acquire a 26% share in AMP Energy SPVs TCS forms strategic cooperation with JLR’s digital unit
Tata Motors August Auto Sales | JLR UK sales are down 23.6% year on year at 1,479 units versus 1,935 units.
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