Sensex Today: Indian benchmark indices ended with moderate gains in the volatile session on December 14. Against this, the S&P BSE Sensex settled the range-bound trade at 62,678, up 145 points or 0.23 per cent. The NSE Nifty50, meanwhile, shut shop at 18,660, up 52 points or 0.28 per cent.
The broader markets, on the other hand, outperformed the benchmark indices as the BSE MidCap and SmallCap indices advanced 0.59 per cent and 0.68 per cent, respectively.
Sectorally, the Nifty Realty, Metal, IT and Media indices gained over 1 per cent each, followed by Nifty Auto and Pharma indices (up 0.6 per cent each). The Nifty FMCG index was the only loser, down 0.43 per cent.
Shares of YES Bank dipped 8 per cent to Rs 22 on the BSE in Wednesday’s intra-day trade, falling 11 per cent from the day’s high of Rs 24.75, as investors booked profit booking after four days of relentless rally. They also took money off the table after private equity (PE) funds Carlyle Group and Advent picked 9.99 per cent stake in the bank.
Paytm’s shares fell 3 per cent to Rs 525.60 amid profit booking on the BSE in Wednesday’s intra-day trade. JP Morgan, however,, said Rs 850-crore share buyback programme could support the stock’s price in the near-term.
Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said: “The lower-than-expected November CPI inflation in the US which came at 7.1% YoY and only 0.1% MoM confirms the market expectation that the Fed will hike rate by only 50bp today. The consensus terminal Fed fund rate is now slightly below 5%, which is market positive. However, since recession in the US in 2023 is a high probability event, the market is unlikely to surge. In India, the bank index, and within the bank index the PSU bank segment, is the strongest segment and this can continue to remain resilient. HDFC twins exhibit strength. The recovery in the IT segment has some more steam to go. The resumption of FII buying is another positive. However, Nifty is unlikely to break out of the 18,400-18,800 range and sustain at higher levels. High valuations are likely to cap the rally.”
Rupee
Rupee slips 4 paise to 82.64 against US dollar in early trade
Global Cues
Asian stocks rose on Wednesday, bonds were firm and the dollar nursed losses after data showed U.S. consumer prices barely rose in November, stoking hopes that inflation has peaked and interest rate increases will slow and eventually stop in 2023.
Oil prices fell in early trade on Wednesday after industry data showed a big build in U.S. crude inventories, rather than the decline forecast by analysts, reinforcing fears about weakening demand even as supply tightens.
Tokyo stocks opened higher Wednesday after US inflation data came in better than expected, with markets shifting focus to the Federal Reserve’s upcoming policy decision. The benchmark Nikkei 225 index was up 0.29 percent, or 80.17 points, at 28,035.02 in early trade, while the broader Topix index was up 0.14 percent, or 2.66 points, at 1,968.34.
US stocks rose on Tuesday after an unexpectedly small consumer price increase buoyed optimism that the Federal Reserve could soon dial back its inflation-taming interest rate hikes, but concerns remained the central back could stay aggressive.
Read all the Latest Business News here
Comments
0 comment