Sensex Today | Share Market Live Updates: Sensex, Nifty slip again

Gold prices were set on Friday for their best year in three. Spot gold was up 0.4% at $2,072.90 per ounce, as of 0722 GMT. It has risen about 14% so far this year, heading for its biggest annual gain since 2020. US gold futures fell 0.1% to $2,082.50 per ounce, a Reuters report said. Spot silver fell 0.1% to $23.92 per ounce, but looked set to the end the year largely flat.

Platinum rose 0.2% to $1,004.42 per ounce, while palladium fell 0.4% to $1,129.01. Both autocatalytic metals were on track for a yearly decline, with palladium down 37% – its biggest drop since 2008.

Markets continue to be in the red with Sensex falling 204 points at 72,205.91, a 0.3% decrease. The Nifty 50 is down by 68 points at 21,710.35. Now, only 10 companies are in the green in the Sensex chart, while 33 companies are down in the Nifty 50. On the last trading day of the year, Sensex opened 180 point lower at 72,221.85, while Nifty 50 opened 56 points down at 21,722.60.

An announcement of fundraise of around ₹7,500 crore by Punjab National Bank (PNB) showed buying interest on the public sector bank. PNB share price opened higher at ₹96.40 and touched an intraday high of ₹96.55, its new 52-week high, on NSE. Later, profit booking pulled down the stock to an intraday low of ₹94.80.

The price increase of C-heavy molasses pushed the shares of the sugar producing companies. The increase will affect the profitability of the sugar production in a positive manner. Oil marketing companies have announced an incentive of ₹6.87 per litre on ethanol sourced from C-heavy molasses. Balrampur Chini, Shree Renuka, Dhampur Sugar and other related stocks rise after the news. 

The news about Tata Group company Tata Coffee completing the merger with Tata Consumer Products Ltd on Monday pushed the Tata Consumer shares to record high at 1,078.65, a 3.6% increase over the last close. The company informed the merger plans in its stock exchange filing on Thursday. 

Markets are still in the negative territory but gaining momentum in recouping the early losses. Sensex down by 97 points at 72,316.29, a 0.1% decrease. The Nifty 50 is down by 34 points at 21,744.65. Now, 12 companies are in the green in the Sensex chart, while 29 companies are down in the Nifty 50. On the last trading day of the year, Sensex opened 180 point lower at 72,221.85, while Nifty 50 opened 56 points down at 21,722.60. 

Asian stocks pulled back on Friday as global shares stayed on track for their best yearly performance since 2019. Currency and bond moves were muted. The MSCI Asia-Pacific Index declined 0.4%, weighed by shares in Hong Kong, Japan and Australia, though it’s still on pace for its best year in the past three, reports Bloomberg. Chinese shares climbed for a second day given signs investors may be eyeing a return to the battered market.

Markets are watching the new escalation of Russia-Ukraine war. Russia launched a wave of missile strikes on Friday across Ukrainian cities, including the capital, authorities said as they raised a nationwide air alert. The overnight attacks came days after Ukraine struck a Russian warship in the occupied Crimean port of Feodosia, AFP reports. Explosions were reported in Kyiv. Missiles also struck at least five other Ukrainian cities, including Kharkiv in the northeast, Lviv in the country’s west as well as Odesa in the south, the cities’ mayors and police said.

Supreme Power Equipment debuted at 51% premium on Friday. The SME stock opened on NSE at  ₹98 over the issue price of  ₹61 to  ₹65 per equity share. The net proceeds from the IPO will be utilized for capital expenditure requirements, working capital needs, and general corporate expenses. 

Markets are still in the negative territory with Sensex down by 236.58 points at 72,173.80, a 0.3% decrease. The Nifty 50 is down by 71.35 points at 21,707.35. Only 11 companies are in the green in the Sensex chart, while 32 companies are down in the Nifty 50. On the last trading day of the year, Sensex opened 180 point lower at 72,221.85, while Nifty 50 opened 56 points down at 21,722.60. On Thursday, the Nifty 50 hit its fresh all-time high of 21,801.45 during the session before it closed 124 points, or 0.57%, higher at 21,778.70. The Sensex hit its fresh record high of 72,484.34 during the session and the index ended with a gain of 372 points, or 0.52 per cent, at 72,410.38.

Innova Captab IPO debuted flat at around 1% premium to issue price, despite the pharmaceutical company received good response from investors before listing. The stock started trading at ₹456 on the BSE and ₹452 on the NSE against IPO price of ₹448. Experts were expecting 20% listing gain. The ₹570-crore IPO had received good response from investors with a subscription of 55.26 times.

Private lender RBL Bank climbed almost 4% after the Reserve Bank of India gave its approval to ICICI Prudential Asset Management Company and ICICI Prudential Life Insurance Company to buy an up to 9.95% stake. The stock is trading 2.9% up at 276.70

Indian government bond yields trended lower as traders bade farewell to 2023 with some buying after a recent rise in yields made for attractive entry points, while valuation-triggered purchases at the end of the quarter also helped sentiment, reports Reuters. The 10-year benchmark bond yield was at 7.1852% as of 10:00 a.m. on Friday, after closing at 7.2111% in the previous session. The benchmark yield rose four basis points in last five sessions and had ended at 7.2162% in September end.

Indian Inc and markets are curiously watching the rising number of covid cases in the country with four more deaths reported due to covid related illness. The number of covid-19 sub-variant JN.1cases continues to be on rise as there has been an addition of 702 new positive cases, according to the health ministry data on Thursday.

Markets are still in the negative territory with Sensex is down by 142 points and Nifty 50 by 40 points. On the last trading day of the year, Sensex opened 180 point lower at 72,221.85, while Nifty 50 opened 56 points down at 21,722.60. On Thursday, the Nifty 50 hit its fresh all-time high of 21,801.45 during the session before it closed 124 points, or 0.57%, higher at 21,778.70. The Sensex hit its fresh record high of 72,484.34 during the session and the index ended with a gain of 372 points, or 0.52 per cent, at 72,410.38.

The rupee maintained its gaining momentum for the second straight session and appreciated 6 paise to 83.14 against the US dollar on Friday, amid a weak American currency against an unabated inflow of foreign funds. According to forex traders, subdued equity market sentiment and volatility in crude oil prices, however, resisted a sharp gain in the Indian currency, reports PTI.

At the interbank foreign exchange, the domestic currency opened at 83.14 and traded in the range of 83.12 to 83.16 against the greenback. The local unit then traded at 83.14 against the dollar, registering a gain of 6 paise from its previous close. This is the second consecutive day of gain in rupee. On Thursday, the domestic currency settled 14 paise higher at 83.20 against the dollar.

China’s yuan leapt to a seven-month high against the dollar on the last trading day of the year on Friday, underpinned by rising market expectations that the U.S. Federal Reserve could begin monetary easing soon, Reuters reported.

On the last trading day of the year, Sensex opened 180 point lower at 72,221.85, while Nifty 50 opened 56 points down at 21,722.60. On Thursday, the Nifty 50 hit its fresh all-time high of 21,801.45 during the session before it closed 124 points, or 0.57%, higher at 21,778.70. The Sensex hit its fresh record high of 72,484.34 during the session and the index ended with a gain of 372 points, or 0.52 per cent, at 72,410.38.

In the pre-opening trade, Sensex opened 198 point higher at 72,609.22. On Thursday, the Nifty 50 hit its fresh all-time high of 21,801.45 during the session before it closed 124 points, or 0.57%, higher at 21,778.70. The Sensex hit its fresh record high of 72,484.34 during the session and the index ended with a gain of 372 points, or 0.52 per cent, at 72,410.38.

Gold prices were set on Friday for their best year in three on strong bets of US interest rate cuts early next year and as the war in Ukraine and tensions in the Middle East lifted safe-haven demand.

Spot gold was up 0.2% at $2,068.95 per ounce, as of 0233 GMT. It has risen 14% so far in the year, heading for its biggest annual gain since 2020. US gold futures fell 0.2% to $2,078.70 per ounce.

The Indian rupee is expected to open marginally higher on Friday, tracking an uptick in Asian peers on bets of a Federal Reserve pivot as early as next quarter. Non-deliverable forwards indicate the rupee will open at around 83.12-83.14 to the US dollar compared with 83.1650 in the previous session, a Reuters report said. The offshore Chinese yuan climbed to the highest since June to 7.0910 to the dollar, while other Asian currencies rose 0.2% to 0.5%.

Indian government bond yields are expected to open largely unchanged on the last trading day of 2023, capping a year of choppy moves, while the market waited for fresh supply of bonds through the government’s weekly debt auction.

The 10-year benchmark bond yield is expected to move in the 7.18%-7.22% range till the auction on Friday after closing at 7.2111% in the previous session, a Reuters report said, quoting a trader with a private bank.

Oil prices are set to end 2023 about 10% lower, the first annual decline in two years, after geopolitical concerns, production cuts and global measures to rein in inflation triggered wild fluctuations in prices, reports Reuters. Brent crude futures were up 18 cents, or 0.2%, at $77.33 a barrel at 0126 GMT on Friday, the last trading day of 2023, while the US West Texas Intermediate (WTI) crude futures were trading 11 cents higher at $71.88 a barrel in early Asian trade. At these levels, both benchmarks are on track to close at the lowest year-end levels since 2020, when the pandemic battered demand and sent prices nosediving.

Global shares edged up on Thursday as expectations of interest rate cuts stretched a rally in US stocks, while benchmark Treasury yields and the dollar lifted slightly from five-month lows, Reuters reported.

On Wall Street, the Dow Jones Industrial Average rose 0.14%, while the Nasdaq Composite and the S&P 500 were little changed. The S&P index has climbed 11.6% this quarter and closed within a whisker of its all-time closing peak, while its price-to-earnings ratio is up by a quarter on the year at 24.0.

The MSCI world equity index, which tracks shares in 47 countries, gained 0.08%. European shares ticked down, but stood near a 23-month high hit two weeks ago and were on course for gains of about 12.5% this year.

Gift Nifty is trading in red, indicating a rather a slow or negative start of major Indian bourses. Asian stocks are also showing a mixed trend in the early trading. However, the Sensex and the Nifty are expecting to end the year on a high note today on the last trading day of the year after climbing yet another record high on Thursday.  

Investors and market experts are expecting to end 2023 on a high note today as India’s equity benchmarks, the S&P BSE Sensex and the NSE Nifty 50, reached yet another record high on Thursday, December 28. Bloomberg reports that Asian stocks traded mixed in the last session of the year after US stocks eked out a gain and as investors bargain-hunt in China. Australian equities fell as a drop in iron ore prices weighed, while shares in Japan edged higher. Korean shares jumped and Chinese futures point to an early gain as investors return to its battered market.