Stock Market LIVE Updates: Sensex, Nifty in green; IDFC surges, CMS Info Systems lists at 2% premium

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12:12:26 IST

Car Sales | Auto stocks in focus ahead of monthly sales data

The Nifty Auto index was up 1.4 percent around noon, and was among the top sectoral gainers on NSE. 

Maruti Suzuki was up two percent. Tata Motors, Hero MotoCorp, Ashok Leyland, Mahindra & Mahindra and TVS were up between 0.9 percent and 1.8 percent.

12:02:20 IST

Like ICICI Bank, SBI, Federal Bank, Axis Bank: Jigar Mistry

Jigar Mistry, Co-Founder of Buoyant Capital, said one should get positions in banking names. “We own and like ICICI Bank, SBI, Federal Bank and Axis Bank the most,” he said. 

“We own Gujarat Fluorochemicals and Sudarshan Chemical Industries. For us, fluoro chemistry offers a lot of upside in our opinion. SRF and Navin Fluorine International are the ones that have been going up a lot,” he added.

11:48:44 IST

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Oil prices rise 60% in 2021 

Crude oil prices have gained nearly 60 percent in 2021. Dayanand Mittal, Oil and Gas Analyst at JM Financial Institutional Securities, said petrol prices should normalise after March-April. He said crude oil prices in the near-term should stay supportive but should moderate from a medium- to long-term perspective. He likes Indraprastha Gas, Gujarat Gas and Mahanagar Gas. (Read more)

11:38:02 IST

It will be a stock-specific market for some time: Siddarth Bhamre

Siddarth Bhamre, Director-Alternate Investment & Research at InCred Equities, believes it is going to be a stock-specific market for the time to come. “We should wait and see how bigger and heavyweight names like HDFC Bank, ICICI Bank and Axis Bank stay at to gauge how Bank Nifty would move, and even in larger stock like Reliance Industries, there is correction not backed by any fresh formation of shorts. It is just long unwinding. So these heavyweights are correcting because of long unwinding,” he said. 

“Heavyweights in IT are doing well; TCS and Infosys rollovers are good. There has been short covering. Other heavyweights like Wipro and HCL Tech are going up because of formation of long positions. L&T is doing well. We are in a corrective market where we are still not in a bearish market,” he added.

Disclaimer: Network18, the parent company of CNBCTV18.com, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.

11:18:05 IST

Buy Aurobindo Pharma, Asian Paints: Manish Hathiramani

Here are two trading calls from Manish Hathiramani of Deen Dayal Investments: 

–Buy Aurobindo Pharma for a target of Rs 780 with a stop loss at Rs 695 

–Buy Asian Paints for a target of Rs 3,475  with a stop loss at Rs 3,250 

11:11:42 IST

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HDFC twins, Kotak Bank, ICICI Bank top Sensex movers

Stocks such as Titan, Axis Bank and SBI were also among the biggest contributors to the gain in the 30-scrip index.

10:49:54 IST

Negative on IndiGo: Dipan Mehta

Dipan Mehta, Director at Elixir Equities, is negative on IndiGo for the time being. “I would have liked to buy InterGlobe Aviation as a contrarian play if it was really attractively valued and cheap. But that’s not the case, I think IndiGo never really corrected entirely through the pandemic because people were hopeful that the air traffic would revive again, and because of IndiGo’s overwhelming market share, they will be able to gain immediately as soon as the lockdown was over and done with. However, I’m not that hopeful as of now,” he said.

“Two things have changed. One is that this entire pandemic is just dragging and dragging. Secondly, new competition has emerged in the form of a rejuvenated Air India, and Rakesh Jhunjhunwala’s Akasa. Existing players also do not seem to be as weak as was perceived earlier. So I think that once air traffic gets back to normal, yields may be affected and one thing is pretty certain, the Zoom meeting is not going to go away very soon, which means that business travel, which provides the highest yields to IndiGo, may remain subdued going well into the future,” he said. 

“Maybe even at these levels, one couldn’t use it as a correction, we used an opportunity to liquidate positions,” he added.

10:41:55 IST

Investors can look at 4-5 stocks in banking pack: Elixir Equities’ Dipan Mehta

Dipan Mehta, Director at Elixir Equities, believes one can look at 4-5 stocks in the banking pack, including the likes ICICI Bank, HDFC Bank, Kotak Mahindra Bank and Axis Bank. “Beyond that, every bank is a bit of a suspect in terms of what may come out of them in future,” he said. 

“I’ve been badly impacted by all these Tier II banks having bought IDFC First Bank and RBL Bank earlier, and before that, we had the Yes Bank saga as well. I think I’ve come to the conclusion it’s best to stick with the bluest of blue-chip banks. I think overall, in the banking sector, at least we have learned the hard way that the top 4-5 banks continue to chug along very well, when there’s a correction with the Bank Nifty, they do not fall as much. They are least impacted by corporate governance, NPA and leadership issues,” he said.

In terms of returns, Mehta is not sure if smaller PSU banks or mid-sized private sector banks have really outperformed the larger blue-chip private sector banks in a meaningful way. “When it comes to banks, again, we are going to see consolidation not in the banking sector, but in the investor’s portfolio, where instead of having 10-15 banks or NBFCs, it is best to focus on the top 3-4, and hold good chunks of them and keep them part of your core holding,” he said. 

10:21:00 IST

Diagnostic company stocks great to hold for a 3-5 years: Elixir Equities’ Dipan Mehta

Dipan Mehta, Director at Elixir Equities, believes diagnostic company stocks are great to hold for 3-5 years. “These stocks are kind of linked to the COVID-19 cases. And whenever the COVID-19 cases rise, testing rises, and these companies start to do well, and vice versa,” he said.

Mehta believes testing is certainly going to increase significantly, and new tests are going to be around for many years. “It’s becoming quite mainstream to do a COVID-19 test before any other medical procedure or any other action. So I’m very positive on the long-term fundamentals of diagnostic companies. There’s a good amount of consolidation taking place in the space and we are seeing a shift from the unorganised to the organised. In terms of timing, it’s better to buy them when things are pretty much normal and COVID-19 testing is on the ebb,” he said. 

“Overall, maybe you could have one or two soft quarters because of lower testing. That’s the time to get into these companies and hold them for a longer period of time. Valuations are on the higher side but these are great, secular businesses with a very high RoI,” he added.

10:13:59 IST

Tech Mahindra board approves acquiring 100% stake in Allyis Group For $125 million

Tech Mahindra shares were flat at Rs 1,801 apiece on BSE. 

10:06:32 IST

CMS Info Systems Listing | Shares list at 2% premium over issue price

CMS Info Systems shares made a lackluster debut in the secondary market on Friday.

On BSE, the stock of Mumbai-based CMS Info Systems — a cash management and automation solutions provider — listed at Rs  218.5 apiece, a premium of 1.2 percent over the issue price of Rs 216.

CMS Info Systems shares began their journey on NSE at Rs 220.2 apiece, a premium of 1.9 percent. (Read more on CMS Info Systems listing)

09:45:53 IST

Reliance New Energy Solar to Acquire Faradion Limited, deal aims to make EV batteries cheaper

Reliance New Energy Solar, a wholly-owned subsidiary of Reliance Industries, has signed an agreement to acquire Faradion, a sodium-ion battery technology company. The deal is worth GBP 100 million with RNESL investing GBP 25 million as growth capital in the company. (Read more)

Disclaimer: Network18, the parent company of CNBCTV18.com, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.

09:44:19 IST

Stock Tips | Coforge, Hindustan Unilever, Mindtree among Mitessh Thakkar, Prakash Gaba’s top picks 

–Mitessh Thakkar of earningwaves.com recommends buying Coforge shares for a target of Rs 6,000 with a stop loss at Rs 5,840.

–Prakash Gaba of prakashgaba.com suggests buying Mindtree shares for a target of Rs 4,800 with a stop loss at Rs 4,710. (Catch their other trading calls today

09:39:56 IST

Bond Market Deals | Vedanta, Axis Finance in focus today

–Vedanta has accepted bids worth Rs 1,000 crore on three-year bonds at a 7.68 percent coupon.

–Axis Finance has accepted bids worth Rs 50 crore on perpetual bonds at a 7.76 percent coupon. (Catch other key bond deals today)

09:34:44 IST

Nifty50 set to reach 17,500 in near term, immediate support at 17,000: Hem Securities’ Mohit Nigam

Mohit Nigam, Head-PMS at Hem Securities, said the Nifty is managing to sustain above 17,200 for the past few sessions, which would ultimately take it to the 17,500 mark in the near term. “Immediate support and resistance in Nifty50 are at 17,000 and 17,400 respectively. For the Bank Nifty, immediate support and resistance are at 34,500 and 35,500 respectively,” he said. 

09:30:43 IST

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Hindalco, Titan, Axis Bank, Tata Motors top blue-chip gainers

On the other hand, NTPC, Tech Mahindra and Wipro were the worst hit among the nine laggards in the Nifty50 pack.

Here’s how the 30-member pack fared:

09:29:15 IST

IDFC shares locked in 10% upper circuit

IDFC shares were locked in the upper circuit at 10 percent at Rs 61.2 apiece on BSE. IDFC First Bank shares gained as much as 2.2 percent to Rs 48.5 apiece on the bourse. 

09:24:27 IST

Sensex jumps over 3530 points, Nifty50 above 17,300

The 30-scrip index jumped as much as 374 points or 0.6 percent to touch 58,168.3 in the first few minutes of the session after a positive opening. The Nifty50 benchmark climbed to as high as 17,316.1, up 112.1 points or 0.7 percent from its previous close. 

09:07:59 IST

Marketbuzz Podcast with Reema Tendulkar 

Catch the big themes, vital news and key events you should know before the opening bell. MarketBuzz is your daily morning briefing by CNBC-TV18 research analysts and anchors to kickstart your day. (Tune in)

09:00:22 IST

CMS Info Systems shares to list on BSE, NSE today; here’s what GMP suggests

CMS Info Systems shares will be listed on stock exchanges BSE and NSE at 10 am. Mumbai-based CMS Info Systems, a cash management and automation solutions provider, commanded a marginal premium in the grey market ahead of the listing on Dalal Street.

Dealers said its grey market premium (GMP) stood at Rs 3-5 in the grey market on Friday. Grey market is an unofficial market for unlisted securities. (Read more on CMS Info Systems GMP)

08:40:36 IST

IDFC First Bank board approves lender’s merger with IDFC, IDFC Financial Holding

Current market cap data suggests that IDFC is getting a holding company discount of around 39 percent.

Value of holdings in each company:

–IDFC AMC (estimated) market cap: Rs 3,790 crore (3 percent of AUM)

–IDFC Bank market cap: Rs 29,484.8 crore

–IDFC Ltd holds 36.5 percent stake, worth Rs 10,767.9 crore, in bank

–Total valuation of stakes:  Rs 14,557.9 crore

–Current market cap: Rs 8,884.2 crore

–Hold company discount: around 39 percent

08:35:47 IST

CMS Info Systems shares to debut on BSE, NSE today

CMS Info Systems shares will start their journey in the secondary market at 10 am. CMS Info Systems’ IPO, which was open for bidding from December 21 to December 23, was subscribed nearly two times the shares on offer. 

08:22:51 IST

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Global Cues | Brent crude hovers around $79/barrel

08:18:40 IST

Trade Setup | Is Nifty50 gearing up for higher levels?

For the bulls, 17,275 is an important breakout level to watch in the 50-scrip index, according to Shrikant Chouhan, Head of Equity Research (Retail) at Kotak Securities.

“If the Nifty50 manages to surpass that, we can expect a quick uptrend towards 17,325-17,375 levels. On the other hand, a move below 17,150 could trigger further weakness up to the 17,100-17,065 zone,” he said. (Check out key market cues before last session of 2021)

08:09:06 IST

SGX Nifty futures flat

Singapore Exchange (SGX) Nifty futures — an early indicator of the Nifty50 index — gave up mild initial gains, suggesting a flat start ahead on Dalal Street. At 8:04 am, SGX Nifty futures were down 3.5 points at 17,291.5, having risen as much as 20 points earlier on Friday.

08:05:10 IST

Wall Street indices declined on Thursday

Wall Street closed lower on Thursday, retreating late in thin holiday volume from record highs set early in the session on strong US data, including a drop in weekly claims for US unemployment benefits. The three main indices ended 0.2-0.3 percent lower.

08:00:37 IST

Asian shares rise amid thin trade

Equities in other Asian markets rose on Friday amid thin trade as several regions were closed for the New Year. MSCI’s broadest index of Asia Pacific shares outside Japan was up 0.8 percent at the last count.

China’s Shanghai Composite was up 0.5 percent, Hong Kong’s Hang Seng 1.9 percent, and Singapore’s Straits Times 0.4 percent.

S&P 500 futures were down 0.1 percent in Asia. 

07:48:23 IST

Sensex, Nifty50 ended volatile session flat on Thursday

Indian equity benchmarks ended flat on the day of monthly F&O expiry on Thursday amid persisting volatility. Gains in IT and financial stocks were offset by losses in oil & gas, auto and metal shares.

The 30-scrip index ended 12.2 points lower at 57,794.3 and the broader Nifty50 benchmark settled at 17,204, down 9.7 points from its previous close. (Read more on the December 30 session)

07:36:09 IST

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