Sensex Today Ends 122 Points Higher | Nifty Hits 21,500 Mark | DCM Shriram Rallies 10%

Tue, 19 Dec Closing

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After opening the day on a positive note, the markets continued momentum as the session progressed and ended the day in green.

Frontline indices Nifty 50 and Sensex made fresh record highs on Tuesday, led by select energy and FMCG majors, including Reliance Industries, ITC, Nestle and NTPC, amid broadly positive global cues.

At the closing bell, the BSE Sensex stood higher by 122 points (up 0.2%).

Meanwhile, the NSE Nifty closed higher by 35 points (up 0.2%).

Reliance, NTPC and Nestle were among the top gainers today.

Wipro, TCS and HCL Tech, on the other hand, were among the top losers today.

The GIFT Nifty was trading at 21,526, up by 40 points, at the time of writing.

Border indices ended on a mixed note with the BSE MidCap index down by 0.3% while the BSE SmallCap index rose by 0.1%.

All Sectoral indices ended on a mixed note with stocks in the Energy sector, FMCG sector, Power sector, Oil & Gas sector witnessing most of the buying.

Whereas, the IT sector and Auto sector witnessed the most selling.

Shares of Nestle, L&T and IndusInd Bank hit their respective 52-week highs today.

Now track the biggest movers of the stock market using stocks to watch today. This should help you keep updated with the latest developments...

Asian share markets ended on a mixed note. The Shanghai Composite ended flat while the Nikkei ended 1.4% in green. The Hang Seng tanked 0.7%.

The rupee is trading at 83.17 against the US$.

Gold prices for the latest contract on MCX are trading in red by 0.1% at Rs 62,201 per 10 grams.

Silver for the latest contract on MCX is also trading in green by 0.2% at Rs 74,573 per 1 kg.

Speaking of the stock market, in as many as 92 years, only 4% of all listed equities in the US accounted for all the wealth created there.

Now since we are referring to the American stock markets, we cannot blame the underperformance of 96% stocks on the lack of maturity of the markets.

Nor can we attribute any economic or geopolitical risk as the cause. This is because the performance has been gauged over nearly a century.

Does this apply to Indian stock markets too?

Tanushree Banerjee co-head of research at Equitymaster, answers this question in below video.

Why IDFC First Bank Share Price is Rising

In news from the banking sector, on Tuesday, 19 December 2023, the share price of IDFC First Bank saw a surge of 3% contributing to the upward trajectory in the stock.

This rally came after the Reserve Bank of India (RBI) approved the merger of IDFC and IDFC Financial Holding Company with itself.

The RBI's 'no objection' for the amalgamation is subject to compliance with specified terms and conditions.

The composite scheme of amalgamation requires approvals from the National Company Law Tribunal and respective shareholders of the involved companies.

IDFC First Bank reported robust loan growth of 26.1% in the September quarter as compared to the same period last year. This growth was driven by home loans, and rural finance.

The stock has rallied over 4.5% in a week and has offered a return of more than 48% in a month.

SJ Logistics SME IPO Lists at 40% Premium

Moving on, SJ logistic debuted with a 40% premium on Tuesday, 19 December 2023.

The stock opened at Rs 175 on the NSE SME platform, a 40% premium over the IPO price of Rs 125.

The IPO, which was subscribed 316 times, saw strong interest from retail investors which was 356 times their allotted quota, high net-worth individuals (HNI) subscribed 489 times, and qualified institutional buyers (QIB) subscribed 116 times.

The company raised Rs 480 million from the public offer and it aims to use the proceeds for repaying or pre-paying certain borrowings, meeting working capital requirements, and general corporate purposes.

If we look a bit into the business, SJ Logistics provides several services like freight forwarding, customs clearance, and transportation handling services to various sectors, including yarn and textiles, automobile, heavy engineering, power transmission, pharmaceuticals, and more.

For more, check out if SME IPO oversubscription is a sign of a market bubble?

Zee Entertainment Share Price is Falling. Here's Why...

Moving on to the media sector, Zee Entertainment was in a lot of buzz today.

On Tuesday, 19 December 2023, the share price of Zee Entertainment faced a setback and fell over 4% amid uncertainties surrounding its merger deal with Sony Pictures Networks India (SPNI).

Let's understand what's actually happening. Basically, Zee sought an extension of the timeline to complete the amalgamation, as indicated by its notice to exchanges. SPNI, now Culver Max Entertainment, stated that Zee's notice acknowledges the inability to meet the 21 December 2023 deadline and triggers discussions about extending the deadline.

SPNI has not yet agreed to an extension and looks forward to hearing Zee's proposals for completing the remaining closing conditions.

After this happened, the shares of Zee Entertainment shares experienced selling pressure.

Zee had previously requested Bangla Entertainment (BEPL) and Culver Max Entertainment (CMEPL) to extend the date required to make the merger scheme effective, adhering to the terms of the merger cooperation agreement.

The proposed US$ 10 billion (bn) merger, aiming to bring together the linear networks, digital assets, production operations, and program libraries of SPNI and ZEEL, has received regulatory approvals from the Competition Commission of India (CCI), NSE, BSE, shareholders, and creditors.

In August 2023, the National Company Law Tribunal (NCLT) approved the merger of ZEEL and Culver Max Entertainment.

The combined entity is expected to own over 70 TV channels, two video streaming services (ZEE5 and Sony LIV), and two film studios (Zee Studios and Sony Pictures Films India).

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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