Share Market Updates Today: Indian equity benchmarks on Wednesday settled lower in volatile trade after Reserve Bank of India (RBI) hiked key interest rate. The Reserve Bank raised interest rates by 35 basis points (bps) to 6.25 per cent after three back-to-back 50-bps moves to tame stubbornly high inflation. While announcing the monetary policy decision, RBI governor Shaktikanta Das underlined that the inflation figure would stay above 4 per cent for the next 12 months. Retail inflation stood at 6.77 per cent in October, above RBI's upper tolerance band. Asian markets declined as Japan's Nikkei fell 0.72 per cent, South Korea's Kospi moved 0.43 per cent lower, China's Shanghai Composite slipped 0.40 per cent and Hong Kong's Hang Seng index plunged 3.22 per cent. Overnight, all three major US stock indexes dropped sharply. US stock futures fell, indicating a lower opening for Wall Street later today. S&P futures slipped 0.25 per cent, Nasdaq futures moved 0.35 per cent lower and Dow Futures shed 0.16 per cent. Back home, foreign institutional investors sold a net of Rs 635.35 crore equities on Tuesday, while domestic investors offloaded Rs 558.67 crore worth of shares, as per provisional NSE data.
Here are the share market highlights:
Share market breadth
The overall market breadth stood weak as 1,518 shares advanced while 1,981 declined on BSE. The market capitalization (m-cap) of BSE-listed companies stood at Rs 288.99 lakh crore.
Consumer durable, metal & IT stocks underperform
13 out of the 15 sector gauges -- compiled by the National Stock Exchange -- settled in the red. Sub-indexes Nifty Consumer Products, Nifty Metal and Nifty IT underperformed the NSE platform by falling as much as 1.06 per cent, 0.88 per cent and 0.84 per cent, respectively. In contrast, Nifty FMCG and Nifty PSU Bank rose 0.96 per cent and 0.26 per cent, each.
Mid and small-cap stocks
Mid- and small-cap shares finished on a lower note as Nifty Midcap 100 fell 0.58 per cent and small-cap shed 0.59 per cent.
Top gainers & losers on NSE
On the stock-specific front, SBI Life was the top Nifty loser as the stock cracked 2.03 per cent to close at Rs 1,259. NTPC, Bajaj Finserv, Tata Motors and Bajaj Auto were also among the laggards. In contrast, HUL, BPCL, Asian Paints, L&T and Axis Bank were among the top gainers.
Share market closing
Sensex falls 215 points or 0.34 per cent to close at 62,411, Nifty moves 82 points or 0.44 per cent down to settle at 18,561
Bajaj Finserv down 1%
Shares of Bajaj Finserv fell 1.48 per cent to trade at Rs 1,611. The stock hit a day low of Rs 1,593.20. A total of 1.60 lakh shares changed hands on BSE today, amounting to a turnover of Rs 25.64 crore. The market capitalisation of the company stood at Rs 2,56,602.57 crore.
Suzlon Energy falls 3.5%
Shares of Suzlon Energy declined 3.72 per cent to trade at Rs 9.83. The stock hit a day low of Rs 9.80. A total of 358.24 lakh shares changed hands on BSE today, amounting to a turnover of Rs 36.01 crore. The market capitalisation of the company stood at Rs 9,901.84 crore.
Share market update
Sensex fell 95 points or 0.15 per cent to trade at 62,532, Nifty moved 45 points or 0.24 per cent down to trade at 18,597; Bajaj Finserv, NTPC, Tata Motors, Bajaj Auto and Hero MotoCorp among top drags
Delta Corp falls 3%
Shares of Delta Corp declined 3.25 per cent to trade at Rs 227.85. The stock hit a day low of Rs 226.50. A total of 1.93 lakh shares changed hands on BSE today, amounting to a turnover of Rs 4.45 crore. The market capitalisation of the company stood at Rs 6,094.67 crore.
Bajaj Hindusthan Sugar Ltd down 5%
Shares of Bajaj Hindusthan Sugar Ltd plunged 5.66 per cent to trade at Rs 15.83. The stock hit a day low of Rs 15.80. A total of 18.07 lakh shares changed hands on BSE today, amounting to a turnover of Rs 3.52 crore.
Share market update
Sensex fell 203 points or 0.32 per cent to trade at 62,423, Nifty moved 69 points or 0.37 per cent down to trade at 18,573; Bajaj Finserv, NTPC, Tata Motors, IndusInd Bank, Kotak Mahindra Bank among top drags
HDFC shares rise 3%
Shares of HDFC rose 3.07 per cent to hit a day high of Rs 602.90. A total of 3,600 shares changed hands today, amounting to a turnover of Rs 21.34 lakh. The company's market capitalisation (m-cap) stood at Rs 1,028.39 crore.
Siemens Ltd shares up 5%
Shares of Siemens Ltd jumped 5.19 per cent to trade at Rs 2,909.90. The stock touched a day high of Rs 2,926. A total of 40,000 shares changed hands today, amounting to a turnover of Rs 11.54 crore. The company's market capitalisation (m-cap) stood at Rs 1,03,627.43 crore.
Share market update
Sensex rose 78 points or 0.12 per cent to trade at 62,704, Nifty moved 21 points or 0.11 per cent higher to trade at 18,664; BPCL, L&T, HUL, Asian Paints, ICICI Bank among top gainers
RBI's December monetary policy outcome
The Reserve Bank hiked repo rate -- key lending rate -- by 35 basis points (bps) to 6.25 per cent
Most active stocks
Excel, Suzlon, Central Bank of India, PNB, Indian Overseas Bank, South Indian Bank, IDBI, UCO Bank, IRFC and Bank of Maharashtra were the most active stocks on the NSE platform, in terms of volume.
Share market breadth
The overall market breadth stood strong as 1,706 shares were seen advancing while 1,069 were declining on BSE.
Sectoral indices' performance
Three out of the 15 sector gauges -- compiled by the National Stock Exchange -- were trading in the red. Sub-indexes Nifty IT and Nifty Auto were underperforming the NSE platform by falling 0.48 per cent and 0.18 per cent, respectively. On the flip side, Nifty PSU Bank climbed 0.56 per cent.
Mid & small cap indexes
Mid- and small-cap shares were slightly positive as Nifty Midcap 100 edged 0.10 per cent higher and small-cap rose 0.16 per cent.
Top gainers and losers on NSE
ONGC, TCS, NTPC, Wipro and HCL Tech were among the top laggards on the NSE platform today with their shares down as much as 1.51 per cent. In contrast, BPCL, L&T, Cipla, Adani Enterprises and SBI Life were among the top gainers.
Share market opening: Sensex, Nifty open almost flat
Sensex edged 11 points or 0.02 per cent lower to trade at 62,616, Nifty shed 4 points or 0.02 per cent to trade at 18,639
Rupee vs dollar view - Amit Pabari, MD, CR Forex Advisors
The momentum of USD-INR will largely be guided by RBI's policy at 10 am. Overall, a medium-term broad range remains between 80.50-83.20, and levels above 82.50 shall remain a good selling opportunity. However, based on a stable domestic outlook and subdued oil prices, the pair is likely to again move towards 81.50 levels.
Stocks to watch
Vedanta: The company would consider the proposal to offer non-convertible debentures worth Rs 500 crore in its board meeting on December 9.
Ircon International: The company was awarded a project worth Rs 122 crore by the ministry of transport, Sri Lanka.
Siemens: The company emerged as the lowest bidder (L1) for electric locomotives project in Gujarat.
Dish TV: The satellite service provider appointed three new independent directors on its board and approved the convening of an annual general meeting (AGM) on December 29.
NDTV: Vikasa India EIF I Fund pared more stake in the media company via open market transactions as it sold 4.71 lakh shares (0.7 per cent stake) at an average price of Rs 375.39 per share.
Vodafone Idea: The telecom operator said its proposal to settle Rs 1,600 crore dues with equipment vendor ATC Telecom Infrastructure through the issuance of equity-convertible debt bonds has lapsed in absence of communication from the government on converting dues into equity. The company said it is in discussions with ATC for an extension and would also seek fresh shareholders' approval on the proposal. The telecom operator owes around Rs 3,000 crore to its tower vendor ATC.
Jet Airways: The Jet Airways Cabin Crew Association (JACCA) said that the approved resolution plan has been contravened following no payments made to the former employees of the airline.
Bikaji Foods International: The snacks company has reported a 43.5 per cent on-year growth in consolidated profit of Rs 40.92 crore. Revenues for the quarter grew by 32 per cent to Rs 577 crore compared to the year-ago period.
Oil prices rise
Oil prices were mixed in early trade as economic uncertainty and the prospect of higher interest rates pressured prices. Brent crude futures rose 12 cents, or 0.15 per cent, to $79.47 per barrel, while US West Texas Intermediate crude futures moved 11 cents, or 0.15 per cent lower, to $74.14. The benchmark Brent crude futures fell below $80 for the second time in 2022.
US stocks
Dow Jones fell 1.03 per cent to settle at 33,596.34. S&P 500 index slipped 1.44 per cent to end the session at 3,941.26. Nasdaq moved 2 per cent lower to close at 11,014.89.
Stocks in F&O ban
GNFC, Indiabulls Housing Finance and Punjab National Bank (PNB) are in F&O (Futures and Options) ban period today. Stocks are placed under F&O ban when the derivative contracts in their securities cross 95 per cent of the market-wide position limit.
FII-DII data
Foreign institutional investors (FIIs) sold Rs 635.35 crore worth of shares, while domestic institutional investors (DIIs) offloaded Rs 558.67 crore worth of shares on December 6, provisional NSE data showed.
Previous session
The benchmark BSE Sensex had declined 208 points or 0.33 per cent to close at 62,626, while the broader NSE Nifty had settled 58 points or 0.31 per cent lower at 18,643.
SGX Nifty
Trends on SGX Nifty indicated a lower opening for the domestic markets. The Nifty Futures on Singapore Exchange also known as the SGX Nifty Futures fell 29 points or 0.15 per cent to trade at 18,723.5.