Sensex Today Rallies 400 Points | Nifty Tops 18,600 | PSU Banks Shine with UCO Bank, Central Bank Rising 20%

Tue, 13 Dec Closing

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After opening the day marginally higher, Indian share markets continued their upward momentum and extended gains as the session progressed.

Indian indices tracked the overnight Wall Street surge and had a strong day today to end with decent gains.

Aiding sentiment was India's retail inflation, which eased sharply to an 11-month low of 5.8% on an annual basis in November amid cooling global commodity prices and higher borrowing costs.

At the closing bell, the BSE Sensex stood higher by 403 points (up 0.6%).

Meanwhile, the NSE Nifty closed higher by 111 points (up 0.6%).

IndusInd Bank, Bajaj Finance, and Infosys were among the top gainers today.

Apollo Hospital, Hindalco, and BPCL on the other hand, were among the top losers today.

The SGX Nifty was trading at 18,699, up by 101 points, at the time of writing.

Broader markets settled on a positive note. The BSE MidCap inched 0.3% higher while the BSE SmallCap index ended 0.4% higher.

If you're looking to midcap stocks that offer growth in the long run, check out the 5 midcap stocks for long term.

Sectoral indices ended on a mixed note with stocks in the telecom sector, IT sector and finance sector witnessing heavy buying.

While stocks in the realty sector, metal sector, and oil and gas sector witnessed selling.

Shares of Lakshmi Machine, Polycab India, and Axis Bank hit their 52-week highs today.

If you're interested in knowing which shares to trade, read our guide on the best intraday stocks for today.

Asian share markets ended the day on a mixed note.

The Hang Seng inched up by 0.7%, while the Shanghai Composite index ended flat. The Nikkei edged 0.4% higher.

US stock futures are trading on a positive note. Dow futures are trading up 0.2% while Nasdaq futures are trading higher up by 0.3%.

The rupee is trading at 82.8 against the US$.

Gold prices for the latest contract on MCX are trading higher by 0.2% at Rs 54,132 per 10 grams.

Meanwhile, silver prices for the latest contract on MCX are trading up by 0.5% at Rs 67,786 per kg.

Speaking of stock markets, Rahul Shah talks about 20 stocks to watch out for high dividends in 2023.

In the video, he talks about a market-beating strategy for stock picking without using mathematics.

Tune in to know what exactly this strategy is and how it works.

TCS Partners with Gujarat government

In news from the IT sector, India's largest IT firm TCS climbed 1% today.

This jump came after TCS announced its partnership with Samagra Shiksha, Gujarat Council of School Education, and the Government of Gujarat.

The partnership is to impart new-age digital skills, such as computational and design thinking to students and teachers.

With this, TCS' Corporate Social Responsibility (CSR) program will bring the company's flagship global initiatives - Ignite My Future and goIT - to students and teachers in Gujarat.

In addition, it will build awareness among students of science, technology, engineering, and mathematics (STEM) careers and prepare them for the upcoming digital economy.

TCS has created phenomenal wealth for its shareholders since its listing in 2004. Since then, it has always been among the most admired companies in India.

If you had invested Rs 1 lakh in TCS shares at the issue price of Rs 850 in the IPO in 2004, the value of that investment today would be around Rs 3,176,000, a return of almost 3,000%.

The company dominates the information technology industry in India. It's the second-largest IT company globally. It has set a goal of US$ 50 bn in revenue by 2030.

However, sentiment surrounding IT stocks is negative at present. Ever since HCL Tech commented on lower revenue guidance, IT stocks are falling.

NTPC Commission full capacities of Devikot Solar PV Projects

Moving on to news from the power sector, shares of NTPC were among the top buzzing stocks today.

Power generation major NTPC today announced that it has commissioned the full capacities of 150 MW and 90 MW Devikot solar power projects in Rajasthan's Jaisalmer.

With this, the standalone installed and commercial capacity of NTPC has become 58,041.27 MW (megawatts), while the group installed, and commercial capacity has become 70,656.27 MW.

Both these projects have been developed under the Central Public Sector Undertaking (CPSU) Scheme Phase-II Tranche-I of the Central government's Ministry of New and Renewable Energy.

NTPC won these projects through Viability Gap Funding (VGF) based competitive bidding done by SECI in 2019.

NTPC is government-owned company, engaged in the business of the generation and sale of electricity.

Sula Vineyard IPO

Moving on to latest developments from the IPO space, Sula Vineyards IPO was subscribed 47% at the time of writing.

On the second day of bidding, India's leading wine producer Sula Vineyards' initial public offering (IPO), saw investors booking for 8.8 m shares against the offered size of 18.8 m shares.

As the company raised Rs 2.8 bn through the anchor book the offered size was reduced to 18.8 m shares.

Retail investors continued to lead, buying 81% of their allotted quota, while high-net-worth individuals have bid for 29% shares of the portion set aside for them.

Qualified institutional buyers bought 4,578 shares of the company out of the reserved portion of 53.80 lakh shares.

The price band for the public issue is Rs 340-357 per share.

The company is looking to mobilize Rs 9.6 bn through the public issue. The issue is a complete offer for the sale of 26.9 m shares by promoter and investors.

The listing of its equity shares will take place on December 22.

To know more about IPOs, check out the upcoming IPO section on our website.

And 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!

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INDICESBSE (Rs 0 to 1)BSE (Rs 1 to 2)BSE (Rs 2 to 4)BSE (Rs 4 to 10)BSE (Rs 10 to 20)BSE (Above Rs 20)BSE - AllBSE-30BSE-100BSE-200BSE-500BSE AutoBSE BankexBSE Capital GoodsBSE Consumer DurablesBSE FMCGBSE HealthcareBSE ITBSE MetalBSE Oil & GasBSE PSUBSE TeckBSE RealtyBSE PowerBSE A GroupBSE B GroupBSE Mid-CapBSE Small-CapBSE Basic MaterialsBSE Consumer DiscretionaryBSE IndustrialsBSE UtilitiesBSE Sensex 50BSE Sensex Next 50BSE Bharat 22BSE 150 MidCapBSE 250 SmallCapBSE 250 LargeMidCapBSE 400 MidSmallCapBSE AllCapBSE LargeCapBSE SmallCap SelectBSE 100 LargeCap TMCBSE InfraBSE ManufacturingBSE CPSEBSE Private BankBSE Diversified FinancialsBSE MomentumBSE Low VolatilityBSE QualityBSE Enhanced ValueBSE Divident StabilityS&P BSE IPOBSE SMEIPOBSE 100 ESGBSE CarbonexBSE GreenexNSE (Rs 0 to 10)NSE (Rs 10 to 20)NSE (Above Rs 20)NSE - AllNSE-50NSE ITNSE Nifty Midcap 50NSE JR. NiftyNSE Bank NiftyNIFTY Next 50NIFTY 100NIFTY 200NIFTY 500NIFTY MidCap 100NIFTY SmallCap 250NIFTY SmallCap 50NIFTY SmallCap 100NIFTY LargeMidCap 250NIFTY MidSmallCap 400NIFTY AutoNIFTY Consumer DurablesNIFTY FinanceNIFTY FMCGNIFTY MediaNIFTY MetalNIFTY PharmaNIFTY Private BankNIFTY PSU BankNIFTY RealtyNIFTY Oil & GasNIFTY SME EmergeNIFTY CommoditiesNIFTY CPSENIFTY EnergyNIFTY India ConsumptionNIFTY InfraNIFTY MNCNIFTY PSENIFTY Serv SectorNIFTY100 Liquid 15NIFTY Midcap Liquid 15NIFTY Midcap 150 Quality 50NIFTY50 Equal WeightNIFTY100 Equal WeightNIFTY100 Low Volatility 30NIFTY100 Alpha 30NIFTY Alpha 50NIFTY Dividend Opportunities 50NIFTY High Beta 50NIFTY Low Volatility 50NIFTY200 Quality 30NIFTY 500 Value 50NIFTY 100 Quality 30SECTORSAgricultureAirlinesAluminiumAsset Management CompaniesAutomobilesAuto AncillariesBanks (Private)Banks (PSU)BankingCementChemicalsDefenceDiagnosticsDronesEngineeringElectric VehicleElectric Vehicle BatteryEnergy SourcesESGEthanolFertilizersFintechFMCGFoodGreen HydrogenHotelsInfrastructureInsuranceInvestment and FinanceInvITIT (Large)IT (Others)LogisticsMediaMetalMiningIndia's Big Tech StocksIndian PharmaMNC PharmaPSUPaintPaperPlasticPowerRating AgenciesReal EstateREITsRenewable EnergyRetailingSemiconductorShippingSteelSugarSupply ChainTelecomTextilesTravel Support Services

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Indian Share Market Update: Top Gainers and Losers