Indian Market Today: Nifty | Sensex closed negative today

December 16, 2019 admin

Indian Market Today: Nifty & Sensex closed negative today

It was a positive start for the Indian market today. Nifty and Sensex was trading in a very tight range today. At the end both the indices closed in the red.

Indian Market Today

The Nifty fell 32.75 points and closed at 12053.95 while Sensex declined 70.99 points and closed at 40938.72. The Bank Nifty was down marginally by 40.10 points and closed at 31974.20.

The Nifty midcap100 index fell 90.30 points and closed at 16842.10. Whereas the Nifty smallcap index was down only 4.75 points or 0.08% and closed at 5647.45 points.

The top five Nifty50 stocks gainers for the day are TCS, HCL Tech, Tech Mahindra, GAIL, and HDFC. The top five losers in the Nifty50 stocks are Grasim, Adani Ports, ITC, Coal India, and JSW Steel.

The gainers in the Nifty midcap Index are Reliance Infra, Dewan Housing and losers are Sterlite Techno, M&M Financial. The gainers in the Nifty smallcap space are Trident, IRB Infra and the losers are Reliance Comm, Suzlon Energy.

The Sectors which closed in the green in the Indian market today are IT & Software, Real Estate, Paper, Industrial Gases, and Manufacturing. The losing sectors for the day are FMCG, Metal, Automobiles, Banks, Infrastructure and Oil & Gas.

Today the FIIs are the net buyers and DIIs are the net seller in the cash segment. FIIs bought Rs 728.13 crore and DIIs sold Rs 796.38 crore in the cash segment.

The WPI inflation number announced during the market was 0.58% versus 0.16%. The food inflation has increased the most, it came at 9.02% compared to 7.65% on an MoM basis.

Stocks in the news in the Indian market today

Reliance Industrial Investment and Holdings Ltd. (RIIHL) a wholly-owned subsidiary of Reliance Industries has entered into a binding agreement with Brookfield infrastructure Partners LP for an investment of Rs 25215 crore. The share price of Reliance Industries fell 1.03% and closed at Rs 1566.60 per share.

Asian Oilfield received a Letter of Award (LOA) for the acquisition of 2D and 3D seismic data of oil blocks located in Rajasthan and Gujarat. The share price of Asian Oilfield fell 1.14% in BSE and closed at Rs 104.05 per share.

Maruti Suzuki has increased the sale of automatic transmission passenger vehicles by 6 lakh. The share price of Maruti Suzuki fell 1.04% and closed at Rs 7140.05 per share.

TCS has launched a Quartz DevKit a low code development kit for enterprises. This is to quickly build and deploy blockchain applications on any popular blockchain platform. The share price of TCS gained 2.68% and closed at Rs 2126.75 per share.

Morgan Stanley has maintained an overweight call on JSPL with a target of Rs 139 per share. The share price of JSPL fell 1.51% and closed at Rs 136.75 per share.

Ramco Systems has signed an agreement with China Aircraft Services to implement its aviation suite v5.8 for end to end base and line maintenance operations. The share price of Ramco System has gained 2.10% and closed at Rs 138.40 per share.

V-Mart has opened a new store in Uttar Pradesh. The total number of V-Mart stores increased to 255 spread across 189 cities and 19 states. The share price of V-Mart fell 0.84% in NSE and flat in BSE and closed at Rs 1675.90 per share in NSE

Pharma Stocks in News today

USFDA has issued eight observations for Sun Pharma’s Halol facility. The Share price of Sun Pharma fell 0.93% and closed at Rs 435.15 per share.

Granules India has entered into an agreement with Hubei Biocause Helien Pharmaceutical Co. Ltd joint partner for sale of 33,000,000 equity shares of 1 RMB each fully paid up, held by the overseas joint venture company in China. The share price of Granule India fell by 0.27% and closed at Rs 130.65 per share.

The European regulator SUKL (State Institute for Drug Control) has issued a certificate of Good Manufacturing Practice (GMP) to Glenmark Pharma for its Baddi manufacturing unit. The share price of Glenmark Pharma gained 1.19% and closed at Rs 343.65 per share.

Aster DM Healthcare has decided to close its loss-making operations in the Philippines. The share price of Aster DM Healthcare has gained 2.36% and closed at Rs 156.05 per share

J B Chemical to increase the price from the next manufacturing batch. The share price of JB Chemical has gained 1.10% and closed at Rs 424.55 per share

Banking & Finance Stocks in News today

Nomura has maintained buy on IndusInd Bank and also raised the target price from Rs 1575 to 1750 per share. The share price of IndusInd Bank gained 0.54% and closed at Rs 1493.40 per share

State Bank of India has signed a loan agreement with KfW the German development bank for $277 mn for establishing an Energy-Efficient Housing Program in India. The share price of SBI fell 0.21% and closed at Rs 331.85 per share.

Crude and Rupee Updates:

Brent crude oil future price is trading higher today, the current (at 8 pm IST) price of Brent Crude oil is trading at $65.42 per barrel. It is up 0.30% from the previous days close. The Indian rupee is closed at Rs 70.99 against the US dollar today.

Conclusions:

Indian market today closed marginally down. Whereas FIIs are back in action, they are the net buyers today. The trade deal between the US and China are in process, it needs to go through a legal review and translation process before it’s signed. Indian market may trade in sideways tomorrow, the market is looking for a trigger to move ahead

Traders can follow our Nifty and Bank Nifty trading views for tomorrow and weekly views here.

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