Experts Financial News

stock market, JTL Industries share price is under sell off pressure. JTL Industries share price today opened with a downside gap and went on to hit intraday low of ₹195 apiece on NSE. But, the stock witnessed buying at lower levels and regained ₹200 levels soon.

JSW Energy stand among top two technical picks by Religare Broking for the week. The brokerage has termed them as Tech stars. The two stock picks are filtered by Brokerage based on momnetum from companies under their coverage Universe.

rupee settled at 83.37 against the dollar. Investors remained on the sidelines ahead of the Reserve Bank of India’s (RBI) monetary policy decision later this week. “The RBI's policy, commencing on Tuesday with a decision due on Friday, will be closely monitored," CR Forex Advisors MD Amit Pabari said.

Power Grid Corporation of India while scaled 52 week highs on Wednesday, NTPC, Bharat Heavy Electricals Ltd with gains of 26-107% in last six months also are trading near 52-week highs scaled on Tuesday. Others prominet gainers include JSW Energy that with gains of more than 55% in last 6 months. The peak power demand in November remained buoyant.

Hindustan Zinc dividend 2023: Vedanta subsidiary company Hindustan Zinc Limited has declared ₹6 per share interim dividend for the financial year 2023-24. The board of directors of the metal company approved this 300 per cent interim dividend proposal after passing a resolution in its meeting on Wednesday. The company has already fixed dividend record date on 14th December 2023.

Also Read: Stellar rally! Nifty 50 jumps 1,159 points in just 13 sessions Friday's rally has also pushed the market capitalization of the NSE-listed companies to cross the $4 trillion mark for the first time. The positive momentum continued into the following two trading sessions, following the ruling party, BJP's decisive victory in three out of four critical state elections, instilling confidence in political stability for 2024. During Monday and Tuesday's trade, the Nifty 50 surged by 2.07% and 0.81%, and in today's session, it maintained the momentum, reaching a new peak of 20,958.65 points, gaining by 0.50%.

ICICI Securities. The upbeat domestic GDP growth with the rising capex cycle, the cyclical factors are expected to accelerate next year, which would drive the markets higher. “We expect favourable cyclical factors to accelerate in CY24 driven by capex-cycle firing on all cylinders (reflected in Q2FY24 GDP print), thereby triggering the corporate re-leveraging cycle," ICICI Securities said in a report.

Bank of India (RBI) began on Wednesday, December 6. RBI Governor Shaktikanta Das will disclose the decision of the Monetary Policy Committee (MPC) around 10 am on Friday, December 8. There is widespread anticipation of rates staying as it is after the RBI MPC meeting even as inflation has eased significantly and economic growth remains strong.

Ashapura Minechem(up 3.49%), Pokarna(up 1.53%), Orissa Minerals Development Company(up 0.95%), Madhav Marbles and Granites(up 0.68%), Oriental Trimex(up 0.61%), Aro Granite Industries(up 0.39%), KIOCL(up 0.36%), Sandur Manganese & Iron Ores(up 0.26%), Gujarat Mineral Dvpt Corporation(up 0.18%) and Coal India(up 0.03%) were among the top gainers. Lexus Granito(down 1.24%), 20 Microns(down 0.93%) and MOIL(down 0.47%) were among the top losers.

EID Parry(up 4.65%), Mawana Sugars(up 2.28%), Ponni Sugars(Erode)(up 1.24%), KCP Sugar & Industries(up 0.94%), Simbhaoli Sugars(up 0.83%) and Dhampur Sugar Mills(up 0.17%) were among the top gainers. Balrampur Chini Mills(down 3.29%), Uttam Sugar Mills(down 2.66%), Triveni Engineering & Industries(down 2.14%), K.M.Sugar Mills(down 1.32%), DCM Shriram Industries(down 1.13%), Dalmia Bharat Sugar & Industries(down 0.96%), BAJAJHIND(down 0.92%), Dwarikesh Sugar Industries(down 0.82%), AVADHSUGAR(down 0.82%) and Shree Renuka Sugars(down 0.69%) were among the top losers.

MCX February gold futures were trading at Rs 62,245 at the opening time, up Rs 60 or 0.10% from Tuesday's closing price. Meanwhile, the March Silver futures were trading at Rs 75,403 per kg, higher by Rs 124 or 0.60%.

rupee appreciated 2 paise to 83.35 against the US dollar in early trade on Wednesday, amid a bullish trend in domestic equities and sustained foreign fund inflows. Forex traders said investors remained on the sidelines ahead of the Reserve Bank of India's monetary policy decision later this week. At the interbank foreign exchange, the rupee opened 2 paise higher at 83.35 against the dollar as domestic benchmark indices touched new lifetime peaks. On Tuesday, the rupee settled at 83.37 against the dollar. «The RBI's policy, commencing on Tuesday with a decision due on Friday, will be closely monitored,» CR Forex Advisors MD Amit Pabari said. The Reserve Bank is likely to maintain the status quo on the short-term interest rate in its monetary policy review. RBI Governor Shaktikanta Das-headed Monetary Policy Committee (MPC) is scheduled to begin its three-day deliberations on December 6. Das would unveil the decision of the six-member MPC on December 8. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.11 per cent lower at 103.93. Brent crude futures, the global oil benchmark, advanced 0.12 per cent to $77.29 per barrel. In the domestic equity market, the 30-share BSE Sensex was trading 269.23 points or 0.39 per cent higher at 69,565.25 points.

Alkem Laboratories Ltd.(up 2.53 per cent), Zydus Lifesciences Ltd.(up 1.49 per cent), Glenmark Pharmaceuticals Ltd.(up 1.21 per cent), Sun Pharmaceutical Industries Ltd.(up 0.94 per cent) and Granules India Ltd.(up 0.86 per cent) were among the top gainers. Gland Pharma Ltd.(down 0.7 per cent), Pfizer Ltd.(down 0.63 per cent), Biocon Ltd.(down 0.59 per cent), GlaxoSmithKline Pharmaceuticals Ltd.(down 0.27 per cent) and Cipla Ltd.(down 0.19 per cent) were the top losers on the index.

Adani Group stocks extended to the fourth day as nine out of 10 stocks traded in the green with Adani Green Energy and Adani Total Gas rising by 16%. Nifty constituents Adani Enterprises and Adani Ports and Special Economic Zone were the top index gainers in the early trade as they rose 6% and 7%, respectively. On Wednesday, the combined market cap of all Adani Group companies stood at Rs 14.65 lakh crore. Meanwhile, Adani Energy Solutions, Adani Power, NDTV, Adani Wilmar and Ambuja Cements gained between 13% and 1.2% around 9:35 am.

The stock opened at Rs 717.05 and touched an intraday high and low of Rs 731.45 and Rs 717.05, respectively, in the session so far. The stock of Indian Railway Catering & Tourism Corporation Ltd. quoted a 52-week high of Rs 758.1 and a 52-week low of Rs 557.15.

Samvardhana Motherson International Ltd.(up 0.8 per cent), Mahindra & Mahindra Ltd.(up 0.63 per cent), Tata Motors Ltd.(up 0.56 per cent), Bosch Ltd.(up 0.4 per cent) and Balkrishna Industries Ltd.(up 0.38 per cent) were among the top gainers. Bajaj Auto Ltd.(down 1.43 per cent), Eicher Motors Ltd.(down 1.15 per cent), TVS Motor Company Ltd.(down 0.74 per cent), Hero MotoCorp Ltd.(down 0.57 per cent) and Tube Investments of India Ltd.(down 0.51 per cent) were the top losers on the index.

Page Industries Ltd. rose 1.24 per cent to Rs 37266.3 in Wednesday's trade as of 10:20AM (IST) even as the benchmark Nifty ruled at 20912.15, up 57.05 points. The scrip had closed at Rs 36807.75 in the previous session.

Marico Ltd. rose 1.5 per cent to Rs 544.5 in Wednesday's trade as of 10:25AM (IST) even as the benchmark Nifty ruled at 20898.95, up 43.85 points. The scrip had closed at Rs 536.45 in the previous session.

Day trading guide for today: Following buying in frontline stocks on end of rate hike cycle buzz, Indian stock market ended higher for sixth straight session on Tuesday. Participatory rally extended for yet another session on Tuesday, which helped key benchmark indices and broad market indices to hit new life-time high on the previous session. Nifty 50 index climbed to a new peak of 20,864 levels, BSE Sensex touched new life-time high of 69,381 whereas Bank Nifty index hit a new high of 47,230.

Pritika Auto Industries demerger: The National Company Law Tribunal (NCLT) hs granted its approval to the schemd of arrangement between Pritika Industries Limited (PIL) and Pritika Auto Industries Limited (PAIL) for demerger of its automotive, tractor and engineering component business. The Chandigarh bench of the NCLT gave its nodd via order dated 4th December 2023.

Oil prices fell in Wednesday Asian morning trading as markets continue to doubt the impact of OPEC+ cuts and take cues from a worsening demand outlook in China. Brent crude futures fell 8 cents, or 0.1%, to $77.12 a barrel by 0101 GMT. U.S.