The Nifty50 index witnessed a breakout to hit a fresh record high of 12,182 on Tuesday. The momentum could take the index towards levels of 12,300-12,400.
On the downside, bulls are protecting the cluster of recent lows placed between 11,800-11,880 levels, which is the lower end of the range. A close below 12,000 will activate the lower end of the range i.e. 11,880.
The S&P BSE Sensex rallied over 400 points to hit a fresh record high of 41,401.65 while the Nifty50 rose over 100 points to hit a record of 12,182.75
Nifty50 hits a fresh record high for the 9th time while the S&P BSE Sensex hit a fresh record high for the 20th time so far in 2019, CNBC-TV18 data showed.
Let’s look at the final tally on D-Street – the S&P BSE Sensex rose 413 points to 41,352 while the Nifty50 closed with gains of 111 points to 12,165. Both Sensex and Nifty50 hit fresh closing highs as well.
Investor wealth soared by Rs 1.26 lakh crore in a buoyant equity market where the BSE benchmark zoomed by over 400 points helped by strong global cues.
Sectorally, the action was seen in telecom, metal, IT, finance, and banking stocks while profit-taking was seen in sectors like consumer durables, realty, and healthcare.
In the December 17 episode of Moneycontrol's In the News podcast host Jerome Anthony gets in conversation with colleagues from the news room to find out the top stories of the day. From nation-wide protests against the controversial amended Citizenship Act to former Pakistani president Pervez Musharraf being handed the death sentence, here are the top news stories of the day.
While numerous scams that emerged in 2018 proved that mutual funds carried a lot of risk, 2019 was the year when investors learnt what happens when a debt fund invests in securities without due diligence. As mutual funds are a good way to grow your wealth, there were certain concerns that led many investors away from debt funds.
As 2019 comes to an end, Moneycontrol's Keerthana Tiwari gets in conversation with Personal Finance Editor Kayezad Adajania to understand how mutual funds performed in the year as far as investors are concerned.
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Taking cue from global markets, the bulls charged on D-Street and pushed the benchmark indices to fresh highs on December 17.
After a sharp recovery of more than 250 points from the low during the last week, Nifty witnessed profit-booking at higher levels to close with a loss of 33 points at 12,054 on December 16.
In the derivatives’ segment, we have seen long build-up in the Nifty Futures’ during the last week. FIIs also created fresh shorts in the Index Futures’ segment.
Among the options, we have seen put writing at 11,900-12,000 strike prices, indicating that 11,850-11,900 may act as strong support, going forward.
On the week ended December 6, Nifty formed bearish engulfing pattern candlestick pattern on the weekly charts. The high of that candle is placed at 11,138, which would act as an immediate resistance going forward.
Considering the technical and derivatives evidence discussed above, we believe that 11,850-11,900 has emerged as strong support and unless that level is breached, the trend for the market would be considered bullish.
Therefore, our advice would be to accumulate longs in Nifty with the stop loss of 11,850. Immediate resistance is seen in the range of 12,100-12,150. Any close above 12,150 could push Nifty towards the target of 12,400.
Market barometer Sensex snapped the winning run of the last three consecutive sessions on December 16 due to profit-booking at higher levels in the absence of any fresh trigger.
Sensex and Nifty remained volatile during the session, eventually settling in the red.
The BSE Sensex fell 71 points, or 0.17 percent, to 40,939 while the Nifty50 closed with losses of 33 points, or 0.27 percent, at 12,054. BSE Midcap and Smallcap closed with losses of 0.46 percent and 0.20 percent, respectively.
On the sectoral front, IT, Realty and Teck logged gains, but rest others failed to perform. FMCG, Telecom, Auto, Consumer Durables and Metal indices fell by over a percent.
In the December 16 episode of Moneycontrol's In the News podcast host Anvita Bansal gets in conversation with colleagues from the news room to find out the top stories of the day.
She talks to Atharva Pandit about protests and violent clashes between the police and students of Jamia Millia Islamia University in New Delhi and Aligarh Muslim University against the Citizenship Amendment Act (CAA) that broke out on December 15. Pandit also talks about the steps taken by the government to control the violence and PM Narendra Modi's tweets on the widespread protests.
Next, Siddhesh Raut talks about the deadline to link Aadhaar Card and Pan Card and Zomato's possible takeover of Uber's food delivery service Uber Eats.
Lastly, Shraddha Sharma throws light on the big discounts announced by car makers as the calendar year comes to an end.
The year 2019 saw 1,300 new start-ups being added to the sector in India. Overall, the country has approximately 10,000 tech start-ups, which makes it the third largest in the world, behind the US and Israel.
Given the massive start-up ecosystem in India, eight start-ups grew to become unicorns, with the total tally reaching 25.
As far as investments are concerned, $4.4 billion was pumped into the sector this year, 5 percent more than 2018.
The S&P BSE Sensex hit a record high of 41,185 on December 16, but pared gains towards the end of the session to close in the red, and below 41,000. The Nifty50 is still 105 points short from its record high of 12,158.
The NiftyBank which hit a record high of 32,186 also failed to hold on to the gains as the index closed with losses of 0.13 percent at 31,974.
Nifty rallied sharply in the last hour of trade post forming a low of 11,832. This reversal was then followed by a consecutive gap up openings on the last two sessions and the index rallied higher to end the week well above the 12,000-mark.
Nifty again took support in the range of 11,850-11,800 and resumed its higher degree uptrend. We remained optimistic on the markets in the recent corrective phase. The strategy of ‘buy on dips’ has certainly worked quite well in the last few months.
Now, if we look at the recent chart structure, Nifty has managed to form a support base in the range of 11,850-11,800 twice in the recent past (i.e. in mid-November and in the last week) and hence, this range now becomes sacrosanct for the near-term.
As broader markets also participated in the rally in the last couple of sessions, it is clear that the market has resumed its uptrend. Hence, we maintain our optimistic stance and advise traders to trade with a positive bias.
As per the reciprocal retracement theory, the probable target for Nifty in the near-term is seen around 12,250-12,300, whereas the immediate supports are placed around 11,950 and 11,850.
During the week, metals, auto and banking were the outperforming sectors which had seen upmove with a good rise in volumes.
Key equity indices Sensex and Nifty logged strong gains on December 13, buoyed by positive global sentiment as investors cheered signs of progress in the US-China trade talks while hopes of a smooth Brexit grew stronger after a decisive election win by the Conservative Party in the UK polls.
Investors shrugged off domestic data showing a deepening of the industrial slowdown and a spike in retail inflation to over three-year high.
Sensex settled 428 points, or 1.05 percent, higher at 41,009.71 while Nifty closed the day with a gain of 115 points, or 0.96 percent, at 12,086.70. Midcaps and Smallcaps, too, witnessed decent gains but underperformed the benchmark Sensex. BSE Midcap closed 0.92 percent up and the Smallcap index settled 0.82 percent up.
Barring BSE Telecom, all sectoral indices settled with gains, with the metal pack jumping 2.30 percent, followed by Realty, Teck, Capital Goods, Auto, IT, Industrials and Basic Materials, each gaining over a percent.
For the week, both Sensex and Nifty climbed by 1.4 percent.
The rupee closed flat at 70.83 to the US dollar on December 13 as surging crude oil prices weighed on the domestic unit.
After securing a 2-1 victory against the visiting West Indies, the Men in Blue now gear up for a three-match ODI series against their Caribbean counterparts starting on December 15.
The last time that these two sides met for a three-match ODI series was back in August this year when India emerged 2-0 victors with one match washed out. This time around the home team are once again favourites to pick up another dominant series victory. The ICC team rankings also highlight the gulf between the two sides with India ranked no. 2 and West Indies in the no. 9 spot.
In this episode of On the Ball, Network18 Group Sports Editor Gaurav Kalra offers his thoughts on India's T20I form before going on to tell us what to expect from the West Indies in the ODI format. Kalra speaks about the vacant opener's position in the Indian team, backing KL Rahul to be given a run after a spectacular showing in the T20Is.
He also touches upon the Kuldeep Yadav and Yuzvendra Chahal spin combination and how India need to find a way to integrate both spinners into the squad before going on to list his Playing XI from the squad picked by the selectors.
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From Jet Airways shutting operations to the turmoil in the telecom sector, Moneycontrol’s Prince Thomas tells Jerome Anthony what transpired in the sector in 2019.
We're into gameweek 17 of the English Premier League (EPL) and champions Manchester City find themselves 14 points adrift of leaders Liverpool who are yet to taste defeat this season. City travel to the Emirates stadium where they will take on an Arsenal side who only picked up their first win in 10 games last week in a 3-1 victory at West Ham.
The Gunners are yet to announce a successor to Unai Emery with interim coach Freddie Ljungberg currently in charge. Meanwhile, Liverpool show no signs of slowing down and will be looking to extend their lead with their 16th win in 17 games when they welcome bottom-placed Watford at Anfield.
Second-placed Leicester find themselves just eight points off Liverpool and will be up against second-from-bottom Norwich City at the King Power Stadium. Chelsea were beaten 3-1 last week as Duncan Ferguson inspired Everton to a memorable win, and will face Bournemouth who are on a five-match losing streak in the League.
Manchester United and Everton will lock horns at Old Trafford in a mouth-watering clash with both teams led by former players in the form of Ole Gunnar Solksjaer and Ferguson respectively. Tottenham will face a tough examination as they go up against Wolves who are just one point ahead of them in sixth position on the table.
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Tune in to this Special edition of The Market Podcast where Moneycontrol Editor Santosh Nair talks to Anuj Singhal, Stocks Editor at CNBC-TV18, to find out how the past year has been in the markets, and what to look forward to in the next year.
Sensex settled 428 points, or 1.05 percent, higher at 41,009.71 while Nifty closed the day with a gain of 115 points, or 0.96 percent, at 12,086.70.
The first two sessions of the week belonged to bears while in the next two sessions the bulls retaliated to bring the benchmarks back in the positive terrain.
Nifty oscillated in the range of 11,800–12,000 and is trading with a change of 0.42 percent from the previous week’s close.
On the other hand, the Nifty Bank index too managed to cut the loses and is now trading with a gain of over 1 percent week-on-week.
Last Friday, there was a trend line breakdown in the Nifty spot along with the breach of the previous swing low of 11,935. This has resulted in a lower-top and lower-bottom formation on the daily chart, which indicates a change of trend in the short-term.
Then we saw that the index attracted buying near the support of 11,800 and bounced back. Later on, during yesterday’s pullback, Nifty failed to clear 12,000-mark, which is also the placement of the falling trend line on the daily chart.
Now, along with a lower-top and lower-bottom formation, we are also observing a negative crossover of 5-day exponential moving average and 20-day exponential moving average.
Thus, we maintain our sell-on-rise stance for positional trade. Until Nifty clears 12,100 on the upside, any bounce could be used to exit long positions or create shorts for trading bets.
For the immediate term, a move above 12,000 could pull the index higher but 12,100 would remain a critical hurdle. On the downside, 11,930 is the intermediate support. A move below the same might halt the ongoing recovery mode and the downside could resume, which can drag the index towards 11,800 or lower levels.
Traders are advised to remain stock-specific and follow strict stop-loss in case of long bets.
Positive global sentiment after the US Fed’s dovish stance on future rate trajectory and government's measures to ease rules for shadow banks helped Indian equity benchmarks extend the gains into the second consecutive day on December 12.
The Union Cabinet on December 11 approved the Partial Credit Guarantee Scheme to help non-banking finance companies (NBFCs) and housing finance companies (HFCs) with liquidity and thereby to provide stimulus to the real estate sector and the economy at large by enhancing credit flow.
"This is a good initiative which will empower NBFCs & HFCs in short term liquidity stress, which, in turn, will enable them to contribute to the last mile lending to viable real estate players," said V K Vijaykumar, Chief Investment Strategist at Geojit Financial Services.
The 30-shares Sensex closed 169 points, or 0.42 percent, higher at 40,581.71 and Nifty shut shop at 11,971.80, with a gain of 62 points, or 0.52 percent.
BSE Midcap and Smallcap indices outperformed the benchmark Sensex, rising 0.69 percent and 0.59 percent, respectively.
Sectorally, the action was seen in metal, bank, auto and capital goods space while profit-taking was witnessed in IT and telecom stocks.
The rupee pared most of its early gains and settled marginally up at 70.83 against the US currency amid uncertainty over the delay in the deadline for imposition of higher US tariffs on Chinese goods.