NIFTY50: 20,969 ▲ 68 (+0.3%)
SENSEX: 69,825 ▲ 303 (+0.4%)
- Benchmark indices closed higher, as the RBI raised its FY24 GDP forecast to 7%
- In all, 23 of the NIFTY50 stocks closed in the green
- German consumer price inflation dropped to over a 2-year low at 3.2% YoY in November 2023
Among the NIFTY sectoral indices, IT (+1.3%) and Financial Services (+0.9%) are the top gainers, while FMCG (-0.9%) and Pharma (-0.8%) are the top losers.
What's Up
| Top gainers | Today's change |
| HCL Tech | 1,365 ▲ 37 (+2.8%) |
| LTI Mindtree | 5,710 ▲ 142 (+2.5%) |
| JSW Steel | 839 ▲ 20 (+2.4%) |
What's Down
| Top losers | Today's change |
| Adani Enterprises | 2,829 ▼ 57 (-1.9%) |
| Adani Ports | 1,021 ▼ 18 (-1.7%) |
| ITC | 450 ▼ 8.1 (-1.7%) |
Market Sentiment
| USD-INR | 83.40 ▲ 0.03 (+0.04%) |
| NIFTY MIDCAP 100 | 44,400 ▼ 94 (-0.2%) |
| NIFTY SMALLCAP 100 | 14,403 ▼ 158 (-1.0%) |
| India VIX | 12.47 ▼ 0.20 (-1.6%) |
Stock Buzz
⭐ RBI keeps repo rate unchanged
The Reserve Bank of India (RBI) has kept the repo rate unchanged at 6.5% for the fifth consecutive time. This was in line with the street expectations. Against this backdrop , BANK NIFTY hit a new lifetime high of 47,303 today. Heavyweight banking stocks like ICICI Bank (+1.2%) and HDFC Bank (+1.3%) closed higher. Meanwhile, realty stocks like Prestige (+4.6%) and Sobha (+7.4%) also made gains.
⭐ REITs gain on SEZ regulation change
Real estate investment trusts (REITs) stock, including Mindspace Business Parks (+1.6%), Brookfield India Real Estate Trust (+5.3%), and Embassy Office Parks (+1.9%) witnessed strong traction today. This rise comes after the recent amendments in the special economic zone (SEZ) regulations. As per new amendment, developers in IT and IT-enabled services (ITeS) SEZs are permitted to use their vacant spaces for non-IT and ITeS purposes. Experts state that this new change will improve the occupancy rate and rental yield for REITs players.
⭐ IRB Infra shares up on robust toll collection
Shares of the infrastructure company closed 3.6% higher today. This was a day after the company reported a 20% year-on-year (YoY) rise in its toll collection at ₹437 crore in November 2023. The management said that the company witnessed a continued rise in toll collection, despite Diwali holidays.
⭐ JSW Steel hits 52-week high on fund-raising
The steel manufacturer hit a 52-week high and closed 2.4% higher today. This comes after the company announced that its subsidiary JSW Steel Ohio planned to raise ₹1,209 crore via revenue bonds. The fund raised through this bond will be used to upgrade its manufacturing operations at Mingo Junction, Ohio.
⭐ Olectra Greentech bags electric bus order
Olectra Greentech, a commercial EV maker, received a new order worth ₹62.8 crore from Vasai Virar City Municipal Corporation. The company will supply 40 electric buses over a period of seven months. Following the announcement, shares of the company rose over 3% intraday before witnessing profit booking.
IPO Corner
⭐ The IPO of India Shelter Finance, a housing finance company, will be open for subscription between 13 and 15 December. The price band for the public issue is ₹469-493 per share. The company plans to raise ₹1,200 crore through this IPO. The minimum lot size is 30 shares.
⭐ The IPO of the Suraj Estate Developers will open for subscription from 18 to 20 December 2023. The company plans to raise ₹400 crore through this IPO.
Learn with Upstox
What are the gaps?
Gaps in the market act like timeouts in a game—critical for rest and strategy. There are four types: common gap, breakaway gap, exhaustion gap, and runaway gap. A common gap on a price chart happens when there's no trading activity between consecutive sessions. A breakaway gap occurs when a significant price gap forms at the beginning of a new trend. It often signifies the start of a strong bullish or bearish move. An exhaustion gap signals the end of a trend with a final surge in buying or selling pressure. A runaway gap occurs within an established trend. This type of gap represents a significant price gap. It suggests the continuation of the current market sentiment.
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