MEMBER'S LOGINX
| Invalid Username / Password | ||||||||
| Invalid Captcha | ||||||||
|
||||||||
| Sign Up | Forgot Password? | ||||||||
India's Third Giant Leap
This Could be One of the Biggest Opportunities for Investors
- Home
- Todays Market
- Indian Stock Market News December 6, 2023
Sensex Today Ends at Record High, Gains 358 Points | Adani Total Gas Zooms 20% | Wipro & ITC Top Gainers Wed, 6 Dec Closing
After opening the day on a strong note, the Indian share markets continued its record run for the seventh straight trading session and the markets ended firmly in green.
Equity benchmark indices hit new highs boosted by moderating crude oil prices and rally in Adani group and PSU banks.
At the closing bell, the BSE Sensex stood higher by 358 points (up 0.5%).
Meanwhile, the NSE Nifty closed higher by 83 points (up 0.4%).
Wipro, ITC and L&T were among the top gainers today.
Eicher Motors, NTPC and Cipla, on the other hand, were among the top losers today.
The GIFT Nifty was trading at 21,067, up by 63 points, at the time of writing.
Broader markets ended on a positive note with BSE MidCap index and BSE SmallCap index, both, up by 0.2%.
Sectoral indices ended mixed today, with stocks in power sector, oil & gas sector and IT sector witnessing most buying. Meanwhile stocks in healthcare sector and realty sector witness selling pressure.
Shares of TVS Holdings and Angel One hit their respective 52-week highs today.
Now track the biggest movers of the stock market using stocks to watch today section. This should help you keep updated with the latest developments...
Asian share markets ended on a mixed note. The Shanghai Composite ended marginally 0.1% in red while the Nikkei ended 2% higher.
The rupee is trading at 83.33 against the US$.
Gold prices for the latest contract on MCX are trading flat at Rs 62,218 per 10 grams.
Meanwhile, silver prices were trading 0.1% lower at Rs 75,205 per 1 kg.
Speaking of stock markets, when it comes to famous turnarounds of the last one year, no discussion can be complete without Suzlon Energy.
For perspective, the stock is up a whopping 312% in the last one year, far outperforming the close to 40% returns earned by the BSE Small Cap index.
By the way, it is up a huge 20x from its March 2020 lows. Talk of life changing investments!
However, there is a risk to investing in a stock like Suzlon Energy and ignoring this risk could prove fatal over the long run.
Co-head of research, Rahul Shah, in his latest video talks about what exactly is this risk and how should one minimise it.
Why Angel One Share Price is Rising
In news from the finance space, Angel One was in focus today.
On 6 December 2023, Angel One, the big name in the broking segment rose over 7% to hit its new 52 week high.
The rally came after the stock broker reported a 51.3% year-on-year (YoY) increase to 18.5 million (mn) in November 2023, indicating nearly a 4% rise compared to the previous month.
The number of orders also increased by 51.4% YoY to Rs 107 mn in November. Compared to the previous month, the number of orders grew by 1.2%.
The average daily turnover surged 165% YoY and 9% month-on-month to Rs 34.4 trillion in November.
In the Futures and Options (F&O) segment, the average daily turnover grew by 9.2% month-on-month and a little over 169% year-on-year at Rs 34 trillion.
In the cash segment, the average daily turnover stood at Rs 50 bn, up 12.3% month-on-month and over 33% YoY.
The average client funding book was at Rs 18.5 bn, up 43.5% year-on-year.
The share price of Angel One has rallied over 138% in 2023 so far.
Oberoi Realty Hits New 52 Week High. Here's Why...
Moving on with the news from the realty space, shares of Oberoi Realty hit 52 weeks high.
This rally can be attributed to the company's acquisition of a 6.4-acre land parcel near Mumbai from NRB Bearings for Rs 2 bn. This acquisition is part of Oberoi Realty's consolidation of contiguous lands, totalling 75 acres at Pokhran Road 2 in Thane.
If we take a closer look at the deal, after meeting the terms and conditions of the deal with NRB Bearings, Oberoi Realty completed the conveyance deed for the land parcel, which measures approximately 25,700 square metres (about 6.4 acres). This deal is very similar to Raymond Group's 100-acre land deal where construction projects have been underway since 2019.
The shares of Oberoi Realty have been on an upward trajectory. In 2023 so far, the company has offered over 67% returns to its investors.
For more, take a look at the list of realty penny stocks in India
Hero MotoCorp and Ather Industries Announces a New Partnership
Moving on to news from the auto sector, on 6 December 2023, Hero MotoCorp and Ather Energy announced a partnership to establish a fast-charging network for electric vehicles (EVs) to accelerate EV charging ecosystem in India.
This collaboration will enable users to seamlessly utilise both VIDA and Ather Grids across the country. The combined network is set to cover 100 cities with over 1900 fast-charging points.
Following this announcement, shares of Aether Industries rose over 1%, while Hero MotoCorp's shares traded nearly 2% lower.
In November, the domestic two-wheeler segment experienced robust demand during the festival season, leading to approximately 20-21% YoY growth.
Hero MotoCorp's volumes surged by 26% YoY in November, and the company gained market share due to supply-chain issues faced by Honda, resulting in key models being out of stock during the festival season.
Moreover, the company also mentioned that they are planning to open three premium stores and has set a target to open 100 such outlets by June 2024.
In 2023 so far, the share of Hero MotoCorp has offered 39% returns to its investors, while Ather Industries have eroded 6% of investors wealth.
INCLUDEPICTURE "https://lh7-us.googleusercontent.com/HbhAar7ZgbO5hpeVP8mTDjuOhPXPczbvmJGJzpnegdMDC69L77_HXhXNkfJdKt9vGO72enemgldhn9w0h-znk-FfhltgLckmsXSF15QKCbtrlDye8KSVtR0qUSmWmH5rEF_SzKGuXzcUuRQGjUpXy1A" \* MERGEFORMATINET
For more, check out top 5 fundamentally strong EV stocks to watch in 2024.
To know what's moving the Indian stock markets today, check out the most recent share market updates here.
For information on how to pick stocks that have the potential to deliver big returns, download our special report now!
Read the latest Market Commentary
Indian Share Market Update: Top Gainers and Losers
ABOUT EQUITYMASTER
Since 1996, Equitymaster has been the source for honest and credible opinions on investing in India. With solid research and in-depth analysis Equitymaster is dedicated towards making its readers- smarter, more confident and richer every day. Here's why hundreds of thousands of readers spread across more than 70 countries Trust Equitymaster.
PREMIUM PRODUCTS
QUICK LINKS
POPULAR TOPICS
- Multibagger Penny Stocks
- Basics of Value Investing
- Benjamin Graham
- How to Invest in Gold
- How to Invest in Silver
- Best Stocks to Buy Today
- Best Small-cap Stocks to Buy
- Best Bluechip Stocks to Buy
- Guide to Penny Stocks
- How to Invest in the Share Market
- Warren Buffett - The Value Investor
- Pick the Best Multibagger Stocks
TRENDING TOPICS
Copyright © Equitymaster Research Private Limited (formerly Equitymaster Agora Research Private Limited).
Whitelist | Refer | Terms | Privacy | Contact | About | Sitemap
Equitymaster Research Private Limited (formerly Equitymaster Agora Research Private Limited) (Research Analyst)
SEBI (Research Analysts) Regulations 2014, Registration No. INH000000537.
103, Regent Chambers, Above Status Restaurant, Nariman Point, Mumbai - 400 021. India.
Telephone: +91-22-61434055. Email: info@equitymaster.com. Website: www.equitymaster.com.
CIN:U74999MH2007PTC175407
Name of the Compliance & Grievance Officer: Ms Sonal Ramachandran
Telephone: +91-22-61434003 | Email: compliance@equitymaster.com
LEGAL DISCLAIMER:
Investment in securities market are subject to market risks. Read all the related documents carefully before investing.
Registration granted by SEBI and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.
All rights reserved. Any act of copying, reproducing or distributing this newsletter whether wholly or in part, for any purpose without the permission of Equitymaster is strictly prohibited and shall be deemed to be copyright infringement.
Equitymaster Research Private Limited (formerly Equitymaster Agora Research Private Limited) (Research Analyst) bearing Registration No. INH000000537 (hereinafter referred as 'Equitymaster') is an independent equity research Company. Equitymaster is not an Investment Adviser. Information herein should be regarded as a resource only and should be used at one's own risk. This is not an offer to sell or solicitation to buy any securities and Equitymaster will not be liable for any losses incurred or investment(s) made or decisions taken/or not taken based on the information provided herein. Information contained herein does not constitute investment advice or a personal recommendation or take into account the particular investment objectives, financial situations, or needs of individual subscribers. Before acting on any recommendation, subscribers should consider whether it is suitable for their particular circumstances and, if necessary, seek an independent professional advice. This is not directed for access or use by anyone in a country, especially, USA, Canada or the European Union countries, where such use or access is unlawful or which may subject Equitymaster or its affiliates to any registration or licensing requirement. All content and information is provided on an 'As Is' basis by Equitymaster. Information herein is believed to be reliable but Equitymaster does not warrant its completeness or accuracy and expressly disclaims all warranties and conditions of any kind, whether express or implied. Equitymaster may hold shares in the company/ies discussed herein. As a condition to accessing Equitymaster content and website, you agree to our Terms and Conditions of Use, available here. The performance data quoted represents past performance and does not guarantee future results.
Equitymaster requests your view! Post a comment on "Sensex Today Ends at Record High, Gains 358 Points | Adani Total Gas Zooms 20% | Wipro & ITC Top Gainers". Click here!
Comments are moderated by Equitymaster, in accordance with the Terms of Use, and may not appear
on this article until they have been reviewed and deemed appropriate for posting.
In the meantime, you may want to share this article with your friends!