Nagaraj Shetti, Technical Research Analyst, HDFC Securities said, “The market was seen struggling at the new highs, which could open further consolidation or weakness from the highs. Immediate support needs to be watched at 13,000 levels."
The S&P 500 opened lower by just 0.73 points at 3,668.28. The Dow Jones Industrial Average rose 37.04 points, or 0.12%, at the open to 29,920.83, while the Nasdaq Composite gained 19.89 points, or 0.16%, to 12,369.26 at the opening bell.
The biggest among the IPO candidates is the Kerala-based jewellery major Kalyan Jewellers which has lined up a Rs 1,750 crore issue as well as Sequoia Capital-backed Indigo Paints which is set to raise about Rs 1,000 crore from the market.
"Focus of the bi-monthly review of the credit policy by the RBI monetary policy committee is expected to be ensuring adequate liquidity into the system, retaining the policy stance as accommodative," Assocham said.
Bitcoin soared to a record $19,918 on Tuesday, buoyed by demand from investors who variously view the virtual currency as a "risk-on" asset, a hedge against inflation and a payment method gaining mainstream acceptance.
Here are the top gainers in the tourism and hospitality sector
Price as on 03 Dec, 2020 01:35 PM, Click on company names for their live prices.
While we expect a status quo at the upcoming policy meeting, we believe the RBI may not be done with the rate cuts yet. In fact, we expect another 25–50bps easing in 2021 as inflation starts to come off. There are early signs that the spike in vegetable prices is beginning to reverse, and we expect headline CPI inflation to ease towards 5% or below over the next few months.
- Edelweiss Securities
Radhakishan Damani, persons acting in concert sell 0.79% in Trent
Ace investor Radhakishan Damani, promoter of Avenue Supermarts, and persons acting in concert (PACs), have trimmed stake in Tata group's retail arm Trent by selling over 28.22 lakh shares in the open market for an estimated sum of over Rs 202 crore. As per regulatory filing, Radhakishan Damani, Kirandevi G Damani, Jyoti Kabra, Bright Star Investments Pvt Ltd, Damani Estates and Finance Pvt Ltd, Derive Investments and Derive Trading and Resorts Pvt Ltd, sold 28,22,516 shares in the open market.
Roshni Nadar Malhotra wealthiest woman in India: Hurun India
Burger King IPO receives 4.4 times bids on Day 2 so far
Burger King India received 4.4 times bids for its initial public offer (IPO) so far on Thursday. By 11.30 am, the issue received bids for 32,95,15,250 shares, which was 4.42 times the issue size of Rs 7,44,91,524 shares. The IPO was subscribed 3.13 times on the first day of its bidding process. The portion reserved for retail investors was subscribed more than 15.5 times on Day 1, with quotas for qualified institutional buyers (QIBs) and HNIs subscribing 16 per cent and 70 per cent, respectively. QIBs and HNIs generally put their bids on the last day of offer.
CLSA raises target price for SBI to Rs 360
Price as on 03 Dec, 2020 11:34 AM, Click on company names for their live prices.
Imposition of GST on gambling, lottery legal: Supreme Court
Price as on 03 Dec, 2020 11:15 AM, Click on company names for their live prices.
The bank has been taking conscious, concrete steps to remedy the recent outages on its digital banking channels and assures its customers that it expects the current supervisory actions will have no impact on its existing credit cards, digital banking channels and existing operations. The bank believes that these measures will not materially impact its overall business.
- HDFC Bank on RBI order
RBI asks HDFC Bank to stop issuing fresh credit cards, launches under Digital 2.0
Price as on 03 Dec, 2020 10:44 AM, Click on company names for their live prices.
Bharti Infratel gains over 2% after Nettle buys 4.94% stake in co
Shares of Bharti Infratel gained over 2.50 per cent in Thursday’s morning trade after Bharti Airtel on Wednesday said its subsidiary Nettle Infrastructure Investments has acquired an additional 4.94 per cent stake in Bharti Infratel for Rs 2,882.32 crore.
The strong market rally in November was led by a potent mix of factors like record high FPI inflows, better than expected Q2 corporate results & GDP numbers, optimistic commentaries from managements of some crucial sectors , positive news on the vaccine front and increasing retail investor participation. The sustained decline in dollar index (at 91 now) provides strong support to EM equities. Big correction in the markets will happen only if there is reversal in these positive trends or some unexpected negative trigger emerges.
- VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services
GAIL biggest blue chip gainer for third straight day
Price as on 03 Dec, 2020 09:51 AM, Click on company names for their live prices.
India VIX plunges over 7% as vaccine approval diminishes nervousness
OPENING BELL: Sensex rises 190 points, Nifty at 13,170; Maruti, Tata Steel gain 1% each
In commodities, oil prices slipped on Thursday after rising overnight on Covid-19 vaccine hopes and expectations producing countries would keep limits on their output. Brent crude was down 13 cents at $48.11 a barrel while US light crude eased 15 cents to $45.13.
SGX Nifty signals muted start
Nifty futures on the Singapore Exchange traded 10 points, or 0.8 per cent, higher at 13,164, in signs that Dalal Street was headed for a muted start on Thursday.
Tech View: Nifty forms 'Dragonfly Doji'
Nifty50 tested the 13,000 level on Wednesday, before rebounding and closing in the black. The index formed a Dragonfly Doji pattern on the daily chart, suggesting a balance of power between the bulls and the bears. Analysts said the 12,800 level would remain a major support for the index in the coming days, but if it takes out the record high of 13,145 level, it would send out a signal of strength for the index.
Asian shares open on cautious note
In Japan, the benchmark Nikkei 225 index edged down 0.18 per cent or 47.46 points to 26,753.52. Hong Kong's Hang Seng index added 0.34 per cent, or 90.84 points, to 26,623.42. China's Shanghai Composite fell 0.37 per cent to 3,436.52. South Korea's Kospi was up 0.37 per cent to 2,686.
US stocks settled mixed
On Wednesday, the S&P 500 rose 6.56 points to 3,669.01. The index is now up about 13.6 per cent for the year. The Dow Jones Industrial Average gained 59.87 points, or 0.2 per cent, to 29,883.79. The tech-heavy Nasdaq composite, which also opened the month with a new record, slipped 5.74 points, or 0.1 per cent, to 12,349.37.
Burger King India IPO subscribed 3.13 times on Day 1
The initial public offering of Burger King India got subscribed 3.13 times on the first day of subscription on Wednesday. The IPO, which will close on Friday, received bids for 23,32,00,750 shares against 7,44,91,524 shares on offer, as per data available with the NSE.
DIIs sell Rs 1,636 cr worth of stocks
Net-net, foreign portfolio investors (FPIs) were buyers of domestic stocks to the tune of Rs 357.35 crore, data available with NSE suggested. DIIs were net sellers to the tune of Rs 1,635.97 crore, data suggests.
Rupee ends 13 paise lower at 73.81 against dollar
The rupee pared its initial gains to close 13 paise lower at 73.81 against the US dollar on Wednesday, tracking recovery in dollar index and emergence of selling in domestic equities. At the interbank forex market, the domestic unit witnessed a highly volatile trading session. It opened at 73.45, pared the gains and finally closed at 73.81 against the greenback, registering a decline of 13 paise over its previous close of 73.68.
Sensex, Nifty on Wednesday
The BSE Sensex slipped from record highs to end marginally lower on Wednesday while the Nifty edged up to a fresh closing record amid profit-booking in financial stocks and muted global cues. After touching a low of 44,169.97 during the session, the 30-share Sensex pared most losses to finish at 44,618.04, down 37.40 points or 0.08 per cent. The broader NSE Nifty edged higher by 4.70 points or 0.04 per cent to end at its fresh closing record of 13,113.75.
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