Market LIVE: Sensex 400 pts up, Nifty above 17.3k; auto, financials, metal shine

Stock Market LIVE Updates: Domestic equity market is set for the final listing of 2021 as CMS Info Systems will make its debut today. GST Council will meet today on the eve of several key amendments scheduled to be coming into effect in 2021, including tax rate changes

Global equities are closing out a strong year, driven by a U.S. surge while Asia lagged partly because of weakness in China on regulatory curbs and a slowing economy. Bond investors are nursing losses as many central banks move toward tighter monetary settings to fight inflation. How the coronavirus and those policy shifts shape economic reopening are key for the outlook.

Rakesh Jhunjhunwala portfolio: Experts give buy tag to this ?150 realty stock

Indiabulls Real Estate shares are one of the three new companies in which Rakesh Jhunjhunwala bought fresh stake in July to September 2021 quarter. However, the real estate stock has been sideways for the last 3 months as it has risen from ?149.95 (close price on NSE on 30th September 2021) to 158 per share levels today (at 9:24 AM). However, after the fresh breakout in Nifty Realty Index, stock market experts are highly bullish on this low priced real estate Rakesh Jhunjhunwala stock.?

Shriram General Insurance launches new vertical to focus on rural insurance biz

Shriram General Insurance, the non-life private insurance unit of Shriram Group, has launched a separate vertical to focus on rural insurance. The company will recruit 1,500 employees and the insurance products will be available through 25,000 points-of-sale (PoS) as part of a three-year plan for rural expansion till FY25.

Why HDFC Securities sees this multibagger IT stock to rise further in 3 months

Zensar Technologies shares are in strong uptrend on Major time frame. After making a life high in September 2021, it started correcting and halted near 380 levels which also coincide with strong demand zone on weekly chart, highlighted HDFC Securities.

Sharing the IT stock as its top e-margin positional pick based on technical trends, the brokerage and research firm said that Zensar Tech shares have also taken support of 61.8% Fibonacci level drawn by connecting low(254) and high (587).

Rupee gains 12 paise to 74.30 against US dollar in early trade

The rupee appreciated by 12 paise to 74.30 against the US dollar in opening trade on Friday, tracking gains in domestic equity markets.

At the interbank foreign exchange, the rupee opened strong at 74.35 against the American dollar, then inched higher to 74.30, registering a rise of 12 paise from the last close.

In the previous session, the rupee surged 29 paise to close at a more than one-month high of 74.42 against the US dollar.

Rollover Analysis – December 21: Yes Securities

Calm end to turbulent series, large whipsaws seen

Post heavy selloff in first half of the series sharp comeback from lows seen on Nifty from 16400 to back above 17,200 levels, Nifty/BankNifty finished series with losses of 1.9/6.2% each. Highlights for the Dec series were a) FII’s continue to dump heavy in cash markets b) BankNifty down ~20% from 3months highs while Nifty IT at life high levels c) India VIX ended near 16 mark as traders awaits earnings for next directional cues d) BankNifty down more than 5% on back to back series to remain volatile.

Rollovers for Nifty/Bank‐Nifty stood at 78% (1.04cr shrs)/84% (24lakh shrs) vs 83% (1.09cr shrs)/84% (23.7lakh shrs) previous month, roll cost stood near 50 points for Nifty, Market wide rolls stood at 91%vs 94% previous month.?

FII’s derivative stats indicates long short index futures ratio at 1.94x for Jan series vs 3 months avg. of 1.58x levels, while Index futures long roll stood at 99% vs 3 months avg. of 96%. On options front, Max. call/put OI on Nifty for Jan monthly series at 17.5k calls (OI 1.77mn) and 17k put (OI ~2.9mn) shares. Outlook, options vol’s hinting for comparatively lower trading band +‐600 points from 17200 ATM mark, we expect 17600 to 16700 as trading range for Nifty, sector churning is key in range setup as IT stocks showing relative strength and Banking continue to drag.

Tech Mahindra to acquire 100% stake in US-based Allyis Group

IT major Tech Mahindra on Friday announced that the company approved the proposal to acquire 100% equity shares in Allyis India Private Limited and the company’s wholly owned subsidiary viz., Tech Mahindra (Americas) Inc approved the proposal to acquire 100% equity shares in Green Investments LLC.

CMS Info Systems shares make a tepid market debut

Shares of CMS Info Systems made their stock market debut on the last day of the year that witnessed record number of companies raising funds through public issues. CMS Info Systems shares got listed at ?220 per share on the NSE, nearly 2% premium as compared to its IPO issue price of ?216 apiece. On the BSE, the stock started trading at ?218.5 per share in Friday's session.?

Markets opening view: Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments

"The markets have opened with a bang and are inching towards the hurdle of 17350. This is a crucial point and if we can close above this resistance level, the index will scale higher towards 17600. With a strong base at 16800, intraday dips can be utilized to accumulate long positions."?

Reliance to acquire UK's battery tech provider Faradion for ￡100 million

The Reliance Industries Limited announced on Friday its solar unit, Reliance New Energy Solar Limited (RNESL), will buy sodium ion battery technology provider Faradion Ltd for 100 million pounds including debt.?

GST Council meet: Nirmala Sitharaman will chair 46th meeting of the GST Council today

The 46th meeting of the GST Council will be held in New Delhi today at 11 am in Vigyan Bhawan and Union Finance Minister Nirmala Sitharaman will chair the meet. This meeting holds significance as it is taking place ahead of the Union Budget which is presented on the first day of February by the Finance Minister in Parliament.

CMS Info Systems IPO share listing today. Experts predict 'weak' debut

Shares of CMS Info Systems are going to make its debut at Indian stock market today. As per the information available on BSE website, CMS Info Systems IPO listing date is 31st December 2021 and the equity shares of CMS Info Systems Limited shall be listed and admitted to dealings on NSE and BSE in the list of 'B' Group of Securities in Special Pre-open Session.?

According to stock market experts, lack of interest shown by investors in regard to the public issue may reflect in its listing too. Expecting weak listing of the public issue they went on to add that CMS Info Systems shares may open in the range of ?195 to ?220 per share levels.

Cryptocurrency prices today gain

Cryptocurrency prices today gained with Bitcoin trading above $47,000 mark. The world's most popular and largest cryptocurrency by market capitalization surged over 1% to $47,217. Global crypto market capitalization also rose more than 1% to $2.34 trillion, as per CoinGecko.?

Ether, dogecoin, Shiba Inu also surge.

Oil heads for biggest yearly gains since 2009

Oil prices fell 1% on Friday but were set to post their biggest annual gains in 12 years, spurred by the global economic recovery from the COVID-19 slump and producer restraint, even as infections surged to record highs around the world.

On the last day of 2021, Brent crude futures were on track to end the year up 53%, while U.S. crude futures were headed for a 57% gain, the strongest performance for the two benchmark contracts since 2009, when prices soared more than 70%.

Asian stocks gets fillip Friday

Asian stocks got a fillip Friday from a rally in a Hong Kong gauge of technology firms following a surge in U.S.-listed Chinese equities. U.S. futures fell after Wall Street dipped from a record in thin year-end trading.

The Hang Seng Tech Index rose about 4% and China climbed. Those moves came in the wake of the Nasdaq Golden Dragon China Index’s biggest one-day jump since 2008 on Thursday, though it’s still down more than 40% for 2021.

The latest data showed China’s manufacturing sector continued to expand in December, providing some relief to Beijing as the world’s second-largest economy continues to struggle with a property market slump.

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