News for market today: Nifty closed at 12282 pts

January 2, 2020 admin

Stocks news for market today, Nifty closed above 12250 and Sensex gained 320 pts

News for market today: The benchmark equity opened in positive note today and later extended its early gains. The domestic clues like above 1 Lakh GST collection, positive PMI data, and global support have encouraged the market to close in positive consecutively for the second day.

News for Market today:

The Nifty had gained 99.70 points in the end and closed at 12282.20 near the all-time high. The Sensex also add 320.62 points and closed at 41626.64. The Nifty Bank was up 340.95 points and ended for the day at 32443.85.

The Nifty midcap 100 gained 247.90 points today and closed at 17391.15. Whereas the Nifty smallcap 100 index was up 86.65 points and closed at 5962.85. Both the midcap and smallcap index gained around 1.45% today.

The top 5 gainers in the Nifty 50 stocks are Tata Motors, Ultratech Cements, Tata Steel, Grasim, and Vedanta. The losers in the Nifty50 stocks for the day are Eicher Motor, Bajaj Auto, BPCL, Cipla, and Dr. Reddy’s Lab.

In the Nifty midcap space, the gainers for the day are PNB Housing Fin, EDelweiss and the losers are Mphasis, Reliance power. In the Nifty smallcap space, the gainers for the day are Hindustan Copper, Suzlon Energy and the losers are DCM Shriram, IDFC.

Among the sectors, Metal, Oil& Gas, Manufacturing, Infrastructure, Real Estate, Capital Goods and Banking and Finance all gained 1-3% today. Whereas IT & Software & Aviation closed in red today.

The IHS Markit Manufacturing PMI for December 2019 was announced around 12 pm during the market. The Manufacturing PMI rose to 52.7 as compared to 52.2 in November 2019.

FIIs were the seller in the last three days. Today’s FIIs and DIIs position will come to know after 6 pm Click the link here

Stocks news for market today:

MOIL has hiked the product prices. It has revised the prices of different grades of manganese ore and other products from 1st January 2020. The share price of MOIL has gained 5.67% and closed at Rs 154.60 per share.

Prakash Industries has secured allocation of long term coal linkage of 1.69 Lakh MT p.a. The share price of Prakash Industries gained 18.31% and closed at Rs 60.10 per share.

CITI has maintained buy rating on Tata Motors with a target price of Rs 200 per share. The company has a positive stance on the JLR sales recovery. The share price of Tata Motors gained 5.04% and closed at Rs 193.75 per share.

CRISIL has revised the outlook of Bajaj Steel Industries from stable to positive. The share price of Bajaj Steel Industries gained 4.37% in BSE and closed at Rs 254.35 per share.

Apollo Hospitals Enterprises got approval for Apollo Munich deal from CCI, RBI &IRDA. The share price of Apollo Hospitals Enterprises gained 4.79% and closed at Rs 1494.65 per share.

CARE reaffirmed rating on Dhanlaxmi Bank’s Bond.CARE has reaffirmed CARE BB+/stable rating on the lower tier-II bonds and CARE BB/ stable on upper tier-II bonds of the bank. The share price of Dhanlakshmi bank gained 3.09% and closed at Rs 15 per share.

Sterlite Technologies has got a project worth Rs 1800 crore from Telangana Fiber Grid Corporation. The share price of Sterlite Technologies has gained 6.68% and closed at Rs 126.15 per share.

Auto Stocks are in news today

Steel Strips Wheel’s December sales increased by 6% on a YoY basis. The share price of Steel Strips Wheel has gained 0.57% and closed at Rs 768.55 per share.

Ashok Leyland’s December’s auto sales down by 28% on a YoY basis. But on MoM basis the sales have increased by 10% in December. The share price of Ashok Leyland gained 3.64% and closed at Rs 84 per share.

Eicher Motors December auto sales down by 13% due to Royal Enfield sales and export down. The share price of Eicher Motors declined 2.15% and closed at Rs 21600.85 per share.

TVS Motor Company has registered a 14.6% fall in December 2019 sales on a YoY basis. The share price of TVS Motor share price declined 1.97% and closed at Rs 459.35 per share.

Banking & Finance stocks news for the day

Bank of Baroda had entered into a strategic co-lending agreement with JM Home loans Ltd. The tie-up is to offer retail loans to home buyers. The share price of Bank of Baroda has gained 2.50% and closed at Rs104.45 per share.

Nirav Modi’s total assets Rs 1200-1500 crore mortgaged with PNB and attached by ED will now be given back to the PNB Bank. The news has jumped 3.09% of the share price of PNB and closed at Rs 66.70 per share.

Shriram Transport Finance will hold a meeting at the end of January for raising funds through various options like issuing debts securities in onshore/offshore, private placement, etc. The share price of Shriram Transport Finance gained 1.58% and closed at Rs 1160.45 per share.

Crude and Rupee updates

The crude oil is trading higher today. The Brent crude oil future is trading at $66.19 per barrel. It is trading 0.29% higher than yesterday’s close. The Indian rupee is trading lower against the US dollar, it is currently trading at Rs 71.37 against the dollar.

Conclusions:

The Indian equity market ended higher on positive sentiments like increased GST revenue collection, positive PMI data, improved auto sales figure. The global cues are also supportive for the market. The various news for the market today are analyzed above.

The Nifty today closed near the all-time high, tomorrow it is expected to touch new high. The trader can follow our Nifty and Bank Nifty views and weekly market views here.

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Editor’s Desk