SGX Nifty Up 73 Points | IRB Infra Stock Split | Amendment in Buyback Norms | Top Buzzing Stocks Today

Wed, 21 Dec Pre-Open

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On Tuesday Indian share markets staged a smart comeback during closing hours and managed to recover most losses.

Indian markets however struggled tracking weak global cues.

The choppy trend can be attributed to lack of fresh positive triggers.

Also, investors are awaiting the release of the minutes of the RBI's recently concluded monetary policy on Wednesday, which could give some clarity on the central bank's likely course of action in the near term.

At the closing bell on Tuesday, the BSE Sensex stood lower by 104 points (down 0.2%).

Meanwhile, the NSE Nifty closed lower by 35 points (down 0.2%).

TCS, Reliance Industries, and Axis Bank were among the top gainers.

HUL, M&M, and L&T on the other hand, were among the top losers.

Broader markets settled on a negative note. The BSE MidCap inched 0.3% lower while the BSE SmallCap index ended flat.

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 yesterday. Stocks in the energy sector, IT sector, and oil and gas sector witnessed buying.

Meanwhile, stocks in the FMCG sector, auto sector, and realty sector witnessed selling.

Shares of Abbott India, Adani Enterprises, Tube Investments of India hit their 52-week highs.

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

The rupee was trading at 82.7 against the US$.

Gold prices for the latest contract on MCX were trading higher by 0.9% at Rs 54,732 per 10 grams at the time of Indian market closing hours on Tuesday.

At 8:00 AM today, the SGX Nifty was trading up by 73 points or 0.4% higher at 18,500 levels.

Indian share markets are headed for a positive opening today following the trend on SGX Nifty.

Speaking of the stock market, Co-head of Research at Equitymaster Tanushree Banerjee talks about smallcap stocks for 2023, in her latest video.

In the video, she chalks out a few high-quality smallcap stocks that could be wealth-creating juggernauts over the next decade.

She also discusses why you should consider the cyclicality of smallcap valuation.

To know more, tune in to the video below:

Top Buzzing Stocks Today

IRB Infrastructure Developers share price will be in focus today.

Board of IRB Infrastructure Developers will meet on January 4, 2023, to mull stock split proposal. The board will consider sub division of face value of equity shares of the company from Rs 10 to lower denomination.

Ipca Laboratories will also be in focus.

Ipca laboratories announced that it added 6.5% stake in Trophic Wellness (TWPL) for total consideration of Rs 10.58 crore (about Rs 105.8 million).

Trophic Wellness incorporated in the year 2010. It is debt free company and engaged in the business of manufacturing and marketing of several stock keeping units (SKUs) of Neutraceuticals under the brand name Nutricharge.

Market participants will also track the share price of Sterling & Wilson Renewable Energy.

Two promoters of Sterling & Wilson Renewable Energy (formerly Sterling & Solar), Khurshed Yazdi Daruvala and Shapoorji Palloniji on Monday announced to sell a part of their stake in company through Offer for Sale (OFS).

NBCC Acquires a New Contract

NBCC (India) secured a construction order worth Rs 693 m from Odisha Power Transmission Corporation (OPTCL).

The contract involves construction of new multi-storeyed quarter complex consisting of 100 quarters by demolishing the existing 224 quarters at Bhoinager, Bhubaneswar

NBCC (India) provides civil engineering construction services. As on 30 September 2022, the Government of India held 61.8% stake in NBCC (India).

The company's consolidated net profit rose 34.1% to Rs 954.6 m on 8.4% rise in net sales to Rs 20,130.8 crore in quarter ended 30 September 2022 compared to corresponding period year ago.

Sebi to Amend Buyback Norms

The board of capital markets regulator Sebi on Tuesday approved amendment to its buyback regulations. Sebi has decided to gradually phase out share buyback through stock exchange route.

Minimum utilisation of amount for buyback via stock exchange has been increased to 75% vs 50%.

The capital markets regulator will amend its norms to facilitate sustainable finance and curb 'greenwashing'.

The board has approved measures to boost governance at stock exchanges and other market infrastructure institutions.

Sebi has also accepted the recommendations of working group on improving governance standards at exchanges - new rules include increased accountability of directors, stricter investment policy and data sharing.

The capital markets regulator will reduce time taken for registration of FPIs to facilitate ease of doing business.

Since you are interested in buyback you might also be interested in our editorial on 5 stocks that could announce big buy backs in 2023.

Bitcoin Falls to Monthly Low

In cryptocurrencies, Bitcoin price dropped to its lowest level in three weeks with the world's largest and most popular digital token trading more than a per cent lower at US $ 16,764.

The global cryptocurrency market cap today remained below the US $1 trillion mark, as it was down over 1% in the last 24 hours to US $ 841 bn/

On the other hand, Ether, the coin linked to the ethereum blockchain and the second largest cryptocurrency, was almost flat at US $ 1,193. Meanwhile, dogecoin price today was trading more than 5% lower at US $ 0.07 whereas Shiba Inu was down over 3% at US $ 0.000008.

Other crypto prices' today performance were mixed as Binance USD, Avalanche, Tether, Terra, Solana, Polygon, Stellar, XRP, Cardano, Uniswap, Polkadot prices were trading with cuts over the last 24 hours whereas Litecoin, Chainlink, ApeCoin, Tron were trading with gains.

Cryptocurrencies have had a harsh 2022 after reaching record highs late last year, buffeted by everything from the Fed's policy tightening to the implosions of the Terra/Luna ecosystem, hedge funds Three Arrows Capital and exchange FTX.

The collapse of FTX last month was the most shocking in a series of closures of key market players this year including Celsius and Voyager, major tokens terraUSD and Luna that have shaken investment sentiment and wiped out US $ 1.5 tn in cryptocurrency market capitalization.

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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