NIFTY50: 20,937 ▲ 82 (+0.4%)
SENSEX: 69,653 ▲ 357 (+0.5%)
- Benchmark indices continue to rise, hit record highs again today
- In all, 29 of the NIFTY50 stocks closed in the green
- MCX crude oil futures declined for the fifth straight day, amid oversupply concerns
Among the NIFTY sectoral indices, Media (+2.1%) and IT (+1.6%) are the top gainers, while Bank (-0.3%) and Pharma (-0.3%) are the top losers.
What's Up
| Top gainers | Today's change |
| Wipro | 420 ▲ 15 (+3.9%) |
| LTI Mindtree | 5,644 ▲ 156 (+2.8%) |
| ITC | 463 ▲ 11 (+2.5%) |
What's Down
| Top losers | Today's change |
| Adani Enterprises | 2,893 ▼ 66 (-2.2%) |
| Eicher Motors | 4,049 ▼ 86 (-2.1%) |
| Cipla | 1,207 ▼ 17 (-1.4%) |
Market Sentiment
| USD-INR | 83.35 ▼ 0.001 (-0.02%) |
| NIFTY MIDCAP 100 | 44,232 ▲ 109 (+0.2%) |
| NIFTY SMALLCAP 100 | 14,507 ▲ 54 (+0.3%) |
| India VIX | 13.74 ▲ 0.28 (+2.1%) |
Stock Buzz
⭐ Lupin gets USFDA nod for anti-smoking drug
The pharma major has received the USFDA approval for its anti-smoking drug Varenicline tablets. This drug will be manufactured at the company's Pithampur facility. Varenicline tablets had estimated annual sales of $430 million in the US, as of October 2023, according to IQVIA. Meanwhile, shares of Lupin closed 1.1% lower amid profit booking.
⭐ Himadri Speciality to foray into lithium-ion batteries
Shares of the chemical manufacturer rose 3.3%, touching a fresh 52-week high of ₹307 per share. This comes after the company announced plans to set up a manufacturing facility in Odisha to produce cathode materials, which are critical components of Lithium-ion cells. The first phase of the facility will be operational in 27 to 36 months, with estimated investment of ₹1,125 crore and capacity of 40,000 MTPA. This will be funded through internal accruals and debt. The company expects to generate a revenue of 4x the capex with strong profitability.
⭐ Oberoi Realty gains on land acquisition
Oberoi Realty has completed the acquisition of 6.4 acre land for ₹196 crore. The land is located in Thane, Maharashtra. The company had earlier signed an MoU with NRB Bearings for acquiring this land parcel, which is contiguous to the existing 68-acre property owned by the company. The acquisition has now consolidated both land parcels. Meanwhile, shares of the real estate developer closed 1.7% higher today.
⭐ Force Motors falls on lower production and sales
The automobile company hit a 5% lower circuit today after its production and sales declined in November. Its total production stood at 2,216 units, down 22% sequentially. Similarly, total domestic sales slipped by 23.2% month-on-month (MoM) to 1,732 units.
⭐ Jindal Drilling gets a new order from ONGC
The offshore drilling and allied service provider received an order worth ₹72 crore from Oil & Natural Gas Corporation (ONGC). The order involves the deployment of rig Jindal Supreme for a period of three years. Rig Jindal Supreme is an exploration platform designed to extract and process petroleum and natural gas that lie in rock formations beneath the seabed. Jindal Drilling closed 1.5% lower despite the order win.
In other news
⭐ Wipro Consumer Care, a FMCG arm of Wipro, has acquired three soap brands – JO, Doy, and Bacter Shield – from VVF. This is the third acquisition by the company in the last one year, which will help deepen its presence in the Indian soap market.
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Position sizing in trading means deciding how much money to invest in each trade based on your risk tolerance, account size, and market conditions. It's important because it helps you to avoid trading too much or too little, manage emotions better, and stay consistent with your trading plan. One common method to calculate position size is the fixed percentage method. For example, if you have a ₹1 lakh account and decide to risk 2% per trade, you shouldn't risk more than ₹2,000 per trade (2% of ₹1 lakh).
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