Stock Market LIVE Updates: Sensex, Nifty trading in green after giving up intra day high to Omicron scare; IT, Bank, Realty shine

The 30-scrip Sensitive Index (Sensex) gained in early trade session on Tuesday. At 9.30 a.m., the S&P BSE Sensex traded at 57,620 points, up 0.62 per cent. It opened at 57,272 points from the previous close of 57,260 points before slipping on news of Moderna CEO saying vaccine effectiveness will drop against Omicron. Besides, the broader 50-scrip Nifty at the National Stock Exchange (NSE) opened at 17,055 points after closing at 17,053 on Monday. It traded at 17,170 points, up 0.67 per cent during the early-morning trade session.

!1 New UpdateClick here for latest updates

Maruti Suzuki India says price increase of Rs 8,000 in EECO (all non-cargo variants) from Nov 30

Price as on 30 Nov, 2021 02:26 PM, Click on company names for their live prices.

Snapdeal is said to file for $250m India IPO in coming weeks: Bloomberg

Cryptocurrencies post record inflows in first 11 months

Cryptocurrency products and funds posted record inflows in the first 11 months of the year, as institutional investors flocked into the space despite price declines in the last few weeks, data from digital asset manager CoinShares showed on Monday. Total inflows into the sector were $9.5 billion as of Nov. 26, an all-time high. In 2020, total bitcoin inflows were $6.7 billion.

European stocks tumble on doubts about vaccine efficacy against Omicron

European stocks fell more than 1% on Tuesday after vaccine-maker Moderna’s head cast doubts over the efficacy of COVID-19 shots against the Omicron coronavirus variant. By 0815 GMT, the pan-European STOXX 600 dropped 1.3% to hit its lowest levels in nearly seven weeks. Germany’s DAX, France’s CAC 40 and UK’s FTSE 100 fell between 1.1% and 1.5% in early trading.

Fitch Ratings has affirmed ICICI Bank’s ratings at ‘BB+’ with a negative outlook and retained the lender’s viability rating at BB. The negative outlook comes despite the agency recently revising upwards the operating environment outlook of domestic banks to stable from negative, citing better than expected recovery in business and economic activity following the second Covid wave.

Price as on 30 Nov, 2021 02:16 PM, Click on company names for their live prices.

Only 7 out of 30 stocks on Sensex trading in red at 2.10 pm

FINANCE MINISTER: Tax rate on crypto gains to depend on taxpayer category

> Govt doesn’t collect data on transactions in crypto

The recently listed Tatva Chintan Pharma Chem has acquired an industrial land measuring 50,399.16 square metre at Dahej-III GIDC Estate, Gujarat.

Price as on 30 Nov, 2021 01:42 PM, Click on company names for their live prices.

The B2B e-commerce firm has acquired a stake in trade receivable discounting system services firm M1xchange for Rs 32.4 crore

Price as on 30 Nov, 2021 01:41 PM, Click on company names for their live prices.

Vijay Mallya case: SC to take up sentencing

The Supreme Court on Tuesday said it proposes to go ahead with the contempt matter involving fugitive businessman Vijay Mallya, who is an accused in bank loan default case of over Rs 9,000 crore involving his defunct Kingfisher Airlines and list it for hearing on sentencing. The apex court had earlier dismissed his plea seeking review of its 2017 verdict which held him guilty of contempt for transferring $40 million to his children in violations of the court orders.

Oil prices rise on bets OPEC+ will hold off output hike

Oil prices climbed on Tuesday, extending a rebound from last week’s plunge on growing expectations major producers would pause plans to add crude supply in January amid uncertainty over the severity of the Omicron coronavirus variant. WTI crude futures jumped 99 cents, or 1.4 per cent, to $70.94 a barrel at 0105 GMT, adding to a 2.6 per cent rise on Monday. Brent crude futures climbed 82 cents, or 1.1 per cent, to $74.26 a barrel.

Nifty Smallcap index up 1.31% led by KPIT Tech, Prince Pipes, PNB Housing

Union Bank wants CBI to investigate former DHFL brass for causing Rs 40,000 crore loss to lenders

Price as on 30 Nov, 2021 12:58 PM, Click on company names for their live prices.

As Star Health IPO kicks in, Chairman V Jagannathan shares the road ahead for the company: ET NOW

Outlook for Indian banks is stable, says Moody’s

Outlook for Indian banks is stable as a likely pick up in lending growth in a supportive policy environment is expected to drive credit cost down, Moody’s Investors Service said.

The Reserve Bank superseded the board of Anil Ambani promoted Reliance Capital and will soon initiate bankruptcy proceedings against the debt-ridden NBFC for payment defaults and serious governance issues. Nageswar Rao Y, Ex-Executive Director, Bank of Maharashtra has been appointed as the administrator of the company.

Price as on 30 Nov, 2021 12:34 PM, Click on company names for their live prices.

Go Colors has a sturdy brand value with fluctuating revenues while the company moved into losses in FY21. The IPO debuted at Rs 1,310 on NSE with a gain of 89% to its issue price of Rs. 690. The aggressive investors who got the allotment can put a stop loss of Rs 1,000 and hold the stock with a long-term view, while safe investors can book the profit and wait for new buying opportunities at the lower levels.

– Santosh Meena, Head of Research, Swastika Investmart Ltd

The government will receive around Rs 3,667 crore as an interim dividend from Coal India for the current 2021-22 fiscal, a company official said. The Maharatna PSU announced a 90 per cent interim dividend for FY22, and the total outgo for the purpose will be around Rs 5,546 crore.

Price as on 30 Nov, 2021 12:30 PM, Click on company names for their live prices.

Nifty IT trading green, up almost 1%

Price as on 30 Nov, 2021 12:25 PM, Click on company names for their live prices.

The Direct-to-Home service provider, which is facing a notice from its largest shareholder to reconstitute its board, has again postponed its Annual General Meeting for a month after getting regulatory approval

Price as on 30 Nov, 2021 12:24 PM, Click on company names for their live prices.

The online bus ticketing platform redBus announced foray into rail ticketing with the launch of redRail, a rail ticket booking service in collaboration with IRCTC as their authorised partner.

Price as on 30 Nov, 2021 12:15 PM, Click on company names for their live prices.

Nifty Midcap up 1% led by GSPL, Navin Flourine, JSW Energy & Indian Hotels

Moderna CEO in an interview to Financial Times says vaccine effectiveness will likely drop against the Omicron variant

After Monday’s slump, rupee higher vs dollar as equities firm

After taking a beating against the US dollar on Monday, the rupee gained some ground on Tuesday as domestic equities got off to a strong start and as investors harboured hopes that the ‘Omicron’ strain of the coronavirus would not be as deadly as the ‘Delta’ strain, dealers said. The partially convertible rupee opened at 75.0300 per US dollar as against 75.0975/$1 at previous close. So far in the day, the domestic currency moved in a band of 74.85-75.05 per US dollar. The Indian currency was last at 74.95/$1.

The Stock is up ~78% from the higher end of the price band. At CMP Of Rs1,226, the stock is trading at 52x EV/EBITDA (FY20) which leaves little room for upside. Hence, we recommend to book profits.

– Amarjeet Maurya, AVP – Mid Caps, Angel One

Star Health and Allied Insurance IPO sees tepid response so far on first day. Subscribed 5 per cent.

Devyani International jumps after Jefferies initiates with a ‘buy’

Price as on 30 Nov, 2021 10:26 AM, Click on company names for their live prices.

Go Fashion shares make a stellar debut, lists at 90% premium

Shares of leading women’s bottom-wear brand Go Fashion made a strong debut on Dalal Street on Tuesday as the scrip was listed at Rs 1,316 on BSE, a premium of 90.72 per cent over its price of Rs 690. Shares of the company got listed at Rs 1,310 on the National Stock Exchange (NSE), 89.86 per cent premium over the given issue price.

INDIA VIX, barometer of volatility and fear, dropped 7.46 per cent to 19.27

Upon opening, the market has bounced today. Whether it is short covering or a dead cat bounce is still to be ascertained. The markets are still in negative territory and unless we do not close above 17,500 on the Nifty, the short-term trend does not change.

– Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments

Ambiguity and uncertainty are very high.Therefore, investors may continue to be in ‘wait and watch mode’ till clarity emerges. The underperformance of the Bank Nifty–while Nifty is down 3.5% in November, Bank Nifty is down 8%–is a major trend in this market. This has the potential to reverse.

– VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

Opening Bell: Sensex rises 150 points, Nifty50 tops 17,100; Titan, SBI gain 2% each

Pre-open session: Sensex rises 100 points, Nifty at 16,840

SGX Nifty signals a positive start

Nifty futures on the Singapore Exchange traded 36 points, or 0.21 per cent, higher at 17,126.50, signaling that Dalal Street was headed for a positive start on Tuesday.

Tech View: Nifty resistance at 17,150

Nifty50 on Monday traded in a wide range and eventually formed an indecisive Doji Cross on the daily chart. During the day, the index witnessed selling pressure at 100-day EMA and while the NSE barometer ended up gaining for the day, the broader market breadth remained weak. Analysts see immediate resistance for the index at the 17,150-160 range, with supports at 16,930.

Asian markets off to positive start

Asian share markets were trading in positive territory on Tuesday as investors became cautiously optimistic the new Omicron variant might not cause a widespread global economic disruption to worsen the coronavirus pandemic. MSCI’s broadest index of Asia-Pacific shares outside Japan was 0.52% higher on Tuesday. In Australia, the S&P/ASX200 was up 1.15% while Japan’s Nikkei was trading 1.2% higher early in the session. China’s blue chip CSI 300 index was up 0.13%.

Wall Street rebounds after virus-related selloff

Wall Street stocks closed higher on Monday, regaining some of the ground they lost in Friday’s sell-off, as investors were hopeful that the Omicron coronavirus variant would not lead to lockdowns after reassurance from US President Joe Biden. The Dow Jones Industrial Average rose 236.6 points, or 0.68%, to 35,135.94, the S&P500 gained 60.65 points, or 1.32%, to 4,655.27 and the Nasdaq Composite added 291.18 points, or 1.88%, to 15,782.83.

Rupee trips 18 paise to hit 5-week low on fresh Covid worries

The rupee on Monday dived 18 paise to close at a five-week low of 75.07 against the US dollar as fresh worries over new coronavirus variant weighed on already weak investor sentiment. At the interbank foreign exchange market, the local currency opened at 74.84 and witnessed an intra-day high of 74.82 and a low of 75.16 against the US dollar in a highly volatile trading session.

Sensex, Nifty on Monday

Benchmark indices made a positive start to the week on Monday following gains in RIL, bank and IT stocks, even as investors remained jittery over the Omicron variant of the coronavirus. Stabilising after Friday’s brutal sell-off, the 30-share BSE Sensex gained 153.43 points or 0.27 per cent to finish at 57,260.58. The index had tanked more than 500 points or over 1 per cent in opening trade in line with weak global cues. NSE Nifty edged higher by 27.50 points or 0.16 per cent to 17,053.95.

Good morning, dear reader! Here’s something to kickstart your trading day