Share Market HIGHLIGHTS: Domestic equity benchmarks Nifty 50 and Sensex scaled record highs on Monday, December 4, as investors cheered the BJP’s clear win in Madhya Pradesh, Chhattisgarh and Rajasthan among the four states whose election results were declared the previous day.
The high-beta Nifty Bank gauge also registered a record closing peak.
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Both headline indices registered their highest ever closing levels backed by strong buying across sectors, with financial, oil & gas and FMCG stocks at the forefront of the rally after the BJP won three out of the four states in the election results declared on December 3.
Here’s how the indices moved during the course of the day:
Images: NSEIndia.com, BSEIndia.com
Read more on the December 4 session on D-Street
Vikas Sethi of Sethi Finmart recommends buying GNA Axles shares for a target of Rs 450 with a stop loss at Rs 410. Besides, he recommends buying Zaggle Prepaid shares for a target of Rs 260 with a stop loss at Rs 235.
The Indian market continued to rally on Monday, December 4, with the benchmark indices hitting fresh peaks after the ruling Bharatiya Janata Party (BJP) clinched a thumping victory in three of the five state elections.
The Nifty50 marked a new high of 20,602.5, up 1.65 per cent, while the Sensex also marked a new feat, hitting a fresh record high of 68,587.82, up 1.64 per cent over the previous close. Sectorally, amid broad-based buying, while the Oil & Gas and PSU Banking pack led the gains, healthcare, pharma, and media indices lagged in trade today. Read more
Maruti Suzuki India (MSIL) shares decline over 1 per cent to touch the intra-day low of Rs 10,423.75 apiece on BSE. The downward trend in the stock came after the company’s production dipped 3 per cent in November.
Passenger Cars & Utility Vehicles manufacturer on Friday, December 1, posted its November production figures, which showed a 3 per cent dip in its total production to 1,47,763 units against 1,52,786 units in November 2022. Read more
As many as nine stocks in the S&P BSE Sensex basket reached the milestone.
Source: NSE
In conversation with Zee Business Managing Editor Anil Singhvi, market experts Kunal Saraogi, Himanshu Gupta, Rakesh Bansal, Mehul Kothari and Sandeep Jain share their top stock recommendations in this special segment, Pick of the Week.
On the analysts’ ‘buy’ list are stocks such as Tata Steel, Gail, Tata Power, Ceat, ICICI Bank and Mahindra Lifespace Developers. Read more
Shares of Hindustan Unilever (HUL) trade 1.6 per cent higher at Rs 2604.15 post company’s board meeting, which took place on December 1. In its board meeting, the FMCG major announced some of the major decisions:
1. The company announced that its beauty and personal care division will transition into dedicated beauty and well-being (B&W) and personal care businesses. The change will come into force on April 1, 2024. Read more
Punjab National Bank (PNB) shares hit a 52-week-high on BSE on Monday on a day when the Nifty PSU Bank index is soaring higher, reflecting the positive mood in the market post legislative assembly election results. PNB shares hit a 52-week high of Rs 84.60 on Monday. Read more
Siemens Ltd started trade flat on Monday after the firm announced that its parent company, Siemens AG, Germany, will buy a 18 per cent stake (6.41 crore shares) of the company from Siemens Energy Holding BV. Siemens shares trade 0.08 per cent lower at Rs 3745.1 on NSE. Read more
Construction and engineering conglomerate Larsen & Toubro (L&T) shares have surged nearly 49 per cent so far this calendar year, outperforming the domestic equity benchmark Nifty, which has gained over 11 per cent in the same period. The counter is currently trading near its 52-week high of Rs 3,197.95, clocked in the previous session.
Citi has maintained a buy stance on Larsen & Toubro. The global brokerage has raised the target to Rs 4,000 from Rs 3,550, translating an upside of nearly 29 per cent from the closing on Friday of Rs 3,109.2 on NSE. Citi says that the company remains its top pick given the continued strong capex growth in India and the stronger capex growth in the Middle East. Read more
QSR or quick service restaurants, in India have geared up at a rapid pace, and other than the domestic investor interest, there is a huge bet placed by institutional investors on this basket. For Restaurant Brands Asia and Barbeque Nation, the FII stake has increased in the September quarter end to 29.92 per cent and 18.06 per cent, respectively, while for Jubilant FoodWorks, it is maintained at 41.92 per cent.
In trade on Monday (December 4), shares of Devyani International gain 2.86 per cent to day’s high of Rs 180.1, Sapphire Foods gains 3.25 per cent to Rs 1460.5, Jubilant FoodWorks gains around 2 per cent to Rs 576.05 and Restaurant Brands Asia climbs 1.75 per cent to Rs 116.2.
Global brokerage JP Morgan, however, sees QSR as an attractive investment opportunity. The brokerage estimates a healthy low to mid-teens revenue CAGR and 15-20 per cent EBITDA CAGR over FY23–26E for the listed QSR universe. “We see higher intensity for store roll-outs, scaling up omnichannel and digital capabilities, expanding value offerings, and reshaping cost structures,” added the brokerage in its note on the QSR industry. Read More
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Share Market HIGHLIGHTS: Record closing highs on D-Street | Sensex zooms 1,384 pts to 68,865, Nifty5 – Zee Business
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