December 9, 2021

The World Stock Markets Tips & Targets, News, Views & Updates

The World Stock Markets Tips & Targets, News, Views & Updates

Sensex Nifty End At Record Highs For 2nd Straight Session Led By Titan, SBI

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Sensex Nifty End At Record Highs For Second Straight Session Led By Titan, SBI

The Indian equity benchmark indexes closed at record highs for second straight session on Tuesday led by gains in Titan, State Bank of India, Reliance Industries, Hindustan Unilever, Bajaj Finserv, ITC, Kotak Mahindra Bank and Axis Bank. For most part of the day, benchmarks on a subdued note wherein the Sensex traded in a band of 150 points. However, late buying in banking shares lifted the benchmarks to close at record highs.

The Sensex ended 148 points higher to close at record high of 60,284 and Nifty 50 index advanced 46 points to close at an all-time high of 17,992.

“It was a volatile session for the markets but bulls gained strength in late trades as Nifty once again breached the 18,000 mark before ending a tad lower below the psychological mark. On daily and intraday charts, Nifty has formed a promising higher bottom formation. The intraday structure suggests 17,850 could be the trend decider level for the bulls. Above the same, the uptrend formation is likely to continue up to 18,050-18,125 levels,” said Shrikant Chouhan, head of equity research (retail), Kotak Securities.

Buying was visible across the sectors as all the 15 sector gauges, barring the index of information technology shares, compiled by the National Stock Exchange were trading higher led by the Nifty PSU Bank index’s over 3 per cent gain. Nifty Media, Metal, Auto, Bank, and Realty sector gauges also rose between 0.6-1.5 per cent.

Mid- and small-cap shares also witnessed buying interest as Nifty Midcap 100 index advanced 0.6 per cent and Nifty Smallcap 100 index rose 0.8 per cent.

Among the individual shares, Radico Khaitan rose as much as 16 per cent to hit record high of Rs 1,185.15 on the BSE a day after it launched two new luxury alcoholic drinks Magic Moments Dazzle Vodka and Royal Ranthambore Heritage Collection – Royal Crafted Whisky in line with its premiumization strategy.

Delta Corp shares surged around 8 per cent to touch 52-week high of Rs 305 on the BSE after its losses narrowed in the September quarter. The gaming and hospitality company reported net loss of Rs 22.57 crore in the quarter ended September 2021 from Rs 54.91 crore in the year-ago period.

Titan was top Nifty gainer, the stock rose 6 per cent to close at record high of Rs 2,506. Bajaj Auto, Bajaj Finserv, State Bank of India, Divi’s Labs, Hidalco, Hero MotoCorp, Eicher Motors, Nestle India, Hindustan Unilever, ITC and Tata Motors also rose 1-3.3 per cent.

On the flipside, HCL Tech, HDFC Life, Coal India, Tech Mahindra, UltraTech Cement, Shree Cements, Grasim industries, ONGC, TCS, Bharti Airtel and Mahindra & Mahindra were among the laggards.

The overall market breadth was positive as 1,772 shares ended higher while 1,573 closed lower on the BSE.

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