Market Live: Nifty below 10,900, Sensex up 70 points; IT, pharma stocks gain

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Consumption, IT and energy stocks are in the green, while the Nifty Auto index is showing some negative bias.

Citi on Marico: Research house maintained buy rating on the stock with a target at Rs 430 per share. According to the firm, the copra tailwinds should boost overall GMs from this quarter.

Buzzing: Torrent Pharmaceuticals shares gained 3.6 percent on Friday after the company redeemed non-convertible debentures on Thursday.

Rupee Update: Indian rupee is trading higher by 18 paise at 69.66 per dollar against Thursday's close 69.84.

CLSA on Maruti Suzuki: Shares of Maruti Suzuki India rose 1.5 percent after CLSA retained buy call on the stock with a target of Rs 9,200 per share.

Shares of Yes Bank are up 6 percent as the management issued clarifications to CNBC-TV18 over ownership in Morgan Credit. 

Nifty Futures


Nifty Tips

Market Update Equities have further extended their gains, with the Sensex soaring over 170 points. The Nifty is well above 10,900.

The Sensex is up 173.31 points or 0.48% at 36343.72, and the Nifty up 53.20 points or 0.49% at 10911.90. The market breadth is positive as 893 shares advanced, against a decline of 433 shares, while 61 shares were unchanged.

BUZZING STOCK | Shares of Asian Oilfield Services locked at 5 percent upper circuit in the early trade on Friday after the company won an award of the contract from ONGC.

There were pending buy orders of 2,808 shares, with no sellers available.

Tata Motors cracks Shares of Tata Motors are down over 2 percent on Friday morning as global brokerage firm has a negative stance on the stock and cut its target price as well. 

HFCs soar Shares of housing finance companies are surging in the trade as investors hope of relaxation of holding requirement norms after the RBI relaxed the same for NBFCs. 

Future Tips


Nifty Futures

Market opens It’s a good start to the December series for Nifty, opening just short of 10,900, while the Sensex is higher by over 130 points. 

Consumption, IT and energy stocks are in the green, while the Nifty Auto index is showing some negative bias. In the broader market, the Nifty Midcap index is up one-third of a percent. 

The Sensex is up 137.19 points or 0.38% at 36307.60, while the Nifty is higher by 34.20 points or 0.31% at 10892.90. The market breadth is positive as 326 shares advanced, against a decline of 122 shares, while 32 shares were unchanged.

Shares of Yes Bank, ITC, Indiabulls Housing and Zee Entertainment are the top gainers, while Tata Motors, NTPC, and Adani Ports lost the most. 

Rupee update | The Indian rupee opened higher by 17 paise at 69.67 per dollar on Friday versus previous close 69.84.

Market at pre-open Equity benchmarks have made a good start in the pre-opening trade, with the Nifty hitting 10,900. 

The Sensex is up 108.24 points or 0.30% at 36278.65, while the Nifty is higher by 45.30 points or 0.42% at 10904.00.

The rupee has gained 17 paise in the opening at 69.67 per US dollar. 

Crude Update: Oil prices slipped on Friday after the United States reported a 10th straight weekly gain in commercial crude reserves amid record output.

Asian markets trade mixed: Share markets ticked slightly lower in early Asian trade on Friday as investors await a closely watched meeting between the Chinese and US presidents in Argentina this weekend for signs of a trade war detente.

SGX Nifty: Trends on SGX Nifty indicate a flat to a positive start for the broader index in India, a gain of 30 points or 0.27 percent. Nifty futures were trading around 10,946-level on the Singaporean Exchange.

US markets end slightly lower: Wall Street closed slightly lower on Thursday as tech and financial shares slumped, erasing earlier gains stemming from Federal Reserve minutes showing the central bank opened the debate on when to pause further interest rate hikes.


Disclaimer:- The views and investment tips expressed by investment experts are their own. Ripples Advisory advises users to check with certified experts before taking any investment decisions.

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