MARKET RECAP 14/12/2020
Nifty50 13,558 ▲ 44 (+0.3%)
Sensex 46,253 ▲ 154 (+0.3%)
Today proved to be yet
another ‘yo-yo’ session for the markets. The benchmark indices dipped into the
negative but bounced back and closed in green.
Amongst the Nifty
sectoral gainers, Media (+2%) and PSU Bank (+1.7%) gained the most whereas,
Auto (-1%) and Realty (-0.8%) dropped. Selling accentuated in auto stocks and
realty shares saw profit booking after the recent rally.
Top gainers (Nifty50)
ONGC
▲ 5.9%
Larsen & Tubro
▲ 4.2%
Cipla
▲ 4.1%
Top losers (Nifty50)
Eicher Motors
▼ 2.5%
Hero Motorcorp
▼ 2.2%
M&M
▼ 2.0%
Here are the top stories
for the day.
Wholesale Inflation on
the rise
·
The wholesale price
index for November stood at 1.55% (vs 1.48% in October), the highest since
February 2020. The rise is attributed to the increasing cost of manufacturing
goods, whereas food prices eased.
Cipla surges on dispute
settlement
·
Shares of Cipla jumped
+4.1% as the company settled a patent
litigation with Celgene in
the US. Cipla will now be able to sell limited quantities of gRevlimid capsules
from FY2023 to FY2026 and unrestricted quantities thereafter..
·
The markets seem to be
factoring in the present value of incremental sales. As per reports, the cancer
drug saw annual sales of $9 billion in CY19 in the US.
L&T gains on order
wins
·
The infra giant was
among the top gainers in the Nifty50 today after it announced several orders wins ranging from ₹1,000-2,500 crore in its
‘buildings and factories’, and ‘power transmission and distribution’
businesses. The stock has gained ~35% since November, compared to the Nifty50
which has risen 16%.
Ola bets big on
e-scooters
·
The Bengaluru-based
ride-hailing firm plans to invest ₹2,400 crore to set up a factory for electric
scooters in Tamil Nadu. The company claims that with an annual capacity of 20
lakh units, the factory would be the largest in the world.
Action Construction gains
·
The pick-up in
infra-construction projects and increasing demand for commodities augur well
for listed construction and material-handling equipment companies such as
Action Construction Equipment (+7.1%). The stock has gained nearly 60% in
November 2020.
Closing bell
Over the last several
trading days, the markets seem to be showing signs of weakness initially but
gather steam in the second half. It is similar to a relay race where the baton
is being passed from one sector to the other to pull the markets up. Banks and
metal stocks were the winners in November and FMCG, PSU banks and media stocks
have picked up pace in December.
While the foreign flows
are positive and helping the markets to rise, traders are eyeing the consumer
inflation data to gauge the direction that interest rates would take going
forward.
The
Mrs. BectorFood IPO goes live tomorrow. To know more about the company and the
public issue, click here.
Good to know
What
are support and resistance?
Support is a level from
which prices are expected to bounce upwards because of high buying interest. In
contrast, prices are expected to drop from a resistance because of high selling
pressure at that level.
We'd love your thoughts on this morning update.
Trading
and investing in your favourite stocks is easy on Upstox. If you haven't
already, open your Upstox account here
Disclosures and
Disclaimer
Investment in securities markets are
subject to market risks; please read all the related documents carefully before
investing. The securities quoted are exemplary and are not recommendatory. Past
performance is not indicative of future results. Details provided in the above
newsletter are for educational purposes and should not be construed as
investment advice by RKSV group. Investors should consult their investment
advisor before making any investment decision.
Upstox Team
Authorised Partner
Nifty50 13,558 ▲ 44 (+0.3%)
Sensex 46,253 ▲ 154 (+0.3%)
Today proved to be yet another ‘yo-yo’ session for the markets. The benchmark indices dipped into the negative but bounced back and closed in green.
Amongst the Nifty
sectoral gainers, Media (+2%) and PSU Bank (+1.7%) gained the most whereas,
Auto (-1%) and Realty (-0.8%) dropped. Selling accentuated in auto stocks and
realty shares saw profit booking after the recent rally.
Top gainers (Nifty50)
|
ONGC |
▲ 5.9% |
|
Larsen & Tubro |
▲ 4.2% |
|
Cipla |
▲ 4.1% |
Top losers (Nifty50)
|
Eicher Motors |
▼ 2.5% |
|
Hero Motorcorp |
▼ 2.2% |
|
M&M |
▼ 2.0% |
Here are the top stories for the day.
Wholesale Inflation on the rise
·
The wholesale price
index for November stood at 1.55% (vs 1.48% in October), the highest since
February 2020. The rise is attributed to the increasing cost of manufacturing
goods, whereas food prices eased.
Cipla surges on dispute
settlement
·
Shares of Cipla jumped
+4.1% as the company settled a patent
litigation with Celgene in
the US. Cipla will now be able to sell limited quantities of gRevlimid capsules
from FY2023 to FY2026 and unrestricted quantities thereafter..
·
The markets seem to be
factoring in the present value of incremental sales. As per reports, the cancer
drug saw annual sales of $9 billion in CY19 in the US.
L&T gains on order wins
·
The infra giant was
among the top gainers in the Nifty50 today after it announced several orders wins ranging from ₹1,000-2,500 crore in its
‘buildings and factories’, and ‘power transmission and distribution’
businesses. The stock has gained ~35% since November, compared to the Nifty50
which has risen 16%.
Ola bets big on e-scooters
·
The Bengaluru-based
ride-hailing firm plans to invest ₹2,400 crore to set up a factory for electric
scooters in Tamil Nadu. The company claims that with an annual capacity of 20
lakh units, the factory would be the largest in the world.
Action Construction gains
·
The pick-up in
infra-construction projects and increasing demand for commodities augur well
for listed construction and material-handling equipment companies such as
Action Construction Equipment (+7.1%). The stock has gained nearly 60% in
November 2020.
Closing bell
Over the last several
trading days, the markets seem to be showing signs of weakness initially but
gather steam in the second half. It is similar to a relay race where the baton
is being passed from one sector to the other to pull the markets up. Banks and
metal stocks were the winners in November and FMCG, PSU banks and media stocks
have picked up pace in December.
While the foreign flows
are positive and helping the markets to rise, traders are eyeing the consumer
inflation data to gauge the direction that interest rates would take going
forward.
The
Mrs. BectorFood IPO goes live tomorrow. To know more about the company and the
public issue, click here.
Good to know
What
are support and resistance?
Support is a level from
which prices are expected to bounce upwards because of high buying interest. In
contrast, prices are expected to drop from a resistance because of high selling
pressure at that level.
We'd love your thoughts on this morning update.
Trading and investing in your favourite stocks is easy on Upstox. If you haven't already, open your Upstox account here
Disclosures and Disclaimer
Investment in securities markets are subject to market risks; please read all the related documents carefully before investing. The securities quoted are exemplary and are not recommendatory. Past performance is not indicative of future results. Details provided in the above newsletter are for educational purposes and should not be construed as investment advice by RKSV group. Investors should consult their investment advisor before making any investment decision.
Upstox Team
Authorised Partner
Labels: Market Recap
posted by JAVED CHILLIMUTTUR @ December 14, 2020
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