Sensex Today Recovers from Day's Low to End Strong | Metal and Energy Stocks Rally | Nykaa Share Price Jumps 5%

Thu, 29 Dec Closing

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After opening the day lower, Indian share markets staged a smart recovery on expiry day and ended near the day's high.

Benchmark indices remained under pressure throughout the session on the penultimate day of 2022 but bounced back in the final hour to end in green.

China's worsening Covid situation made investors pessimistic about the future global economic outlook.

European shares also slipped in thin holiday trading as the market neared the end of a rough year where it struggled with geopolitical tensions and growing fears of an economic slowdown due to aggressive rate hikes by central banks

At the closing bell, the BSE Sensex stood higher by 224 points (up 0.4%).

Meanwhile, the NSE Nifty closed higher by 69 points (up 0.4%).

Eicher Motors, SBI, and Bharti Airtel were among the top gainers today.

Apollo Hospital, Tata Motors, and Titan on the other hand, were among the top losers today.

The SGX Nifty was trading at 18,294, up by 103.5 points, at the time of writing.

Broader markets settled on a mixed note. The BSE MidCap inched 0.1% lower while the BSE SmallCap index ended 0.2% 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 energy sector, oil and gas sector, metal sector and banking sector witnessing heavy buying.

While stocks in the FMCG sector, and capital goods sector witnessed selling.

From the best auto stocks, shares of Eicher Motors added 2.2%.

Shares of Adani Total Gas, Jindal Steel and Power, and Mahindra CIE Auto 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 struggled today and ended on a negative note.

The Hang Seng inched down by 0.8%, while the Shanghai Composite index ended lower by 0.4%. The Nikkei edged 0.9% lower.

US stock futures are trading on a positive note. Dow futures are trading up 0.2% while Nasdaq futures are trading higher up by 0.6%.

The rupee is trading at 82.8 against the US$.

Gold prices for the latest contract on MCX are trading flat at Rs 54,777 per 10 grams.

Meanwhile, silver prices for the latest contract on MCX are trading marginally lower at Rs 69,000 per kg.

Speaking of stock markets, as the year 2022 is about to end, it's time to look at the stocks that will make your portfolio better in 2023. It is the time you found what should be the top 3 stock picks for 2023.

In the below video, Research Analyst at Equitymaster Aditya Vora talks about a daredevil stock for 2023.

State Bank of India (SBI) to raise Rs 100 billion

In news from the PSU bank sector, share price of SBI jumped 1% today.

This surge came after the bank, on Wednesday, announced its plan to raise Rs 100 billion (bn) through the issue of infrastructure bonds.

SBI's Executive Committee of the Central Board will meet on 3 January 2023 for the approval of the same.

Earlier this month, SBI raised Rs 100 bn through its maiden infrastructure bond issue. The amount raised through the bonds would be used to fund long-term infrastructure and affordable housing projects.

The bank has set a coupon rate of 7.5%, payable annually for a tenor of 10 years on its maiden infra bonds.

SBI is one of the biggest state-owned financial institutions in India.

The stock has delivered a CAGR of 24.2% over the last three-year period and currently trades just below its 52-week high.

Why Ashoka Buildcon share price is rising

Moving on to news from the real estate sector, shares of Ashoka Buildcon rose over 4% intraday today.

This rise came after the company announced that it has received notification of award for three projects worth Rs 7.5 bn from Madhya Pradesh PoorvKshetra Vidyut Vitaran Company.

The scope of the projects entails supplying, installing, testing, and commissioning new 11 kilovolts (kV) lines, LT Lines on AB cable, distribution transformer substation and supporting works such as DPs, and TP.

The work is for the separation of 11 KV mix feeders & mix DTRs under revamped reforms-based and results-linked distribution sectors, Package-06 and Package-08 in Balaghat circle and Satna circle in the Jabalpur area.

Ashoka Buildcon is presently engaged in construction of infrastructure facilities, EPC, and built, operate and transfer (BOT) business.

Mamaearth's parent files IPO Paper

Moving on to news from the IPO space, Honasa Consumer, the parent company of mamaearth, files IPO papers with the market regulator.

The offers comprise of fresh issue of equity shares aggregating up to Rs 4 bn and an offer for sale (OFS) of up to 46.8 m equity shares by selling shareholders.

The combined size of the IPO could range between Rs 24 bn to Rs 3,0 bn.

The net proceeds of the IPO will be used for advertisement expenses to improve brand visibility and awareness, setting up new exclusive brand outlets, investment in BBlunt for setting up new salons, general corporate purposes and inorganic growth.

Mamaearth's filing with the market regulator comes on the back of another filing back in January by a peer in the bustling D2C space - Warburg Pincus backed boat.

The audio-focused electronics brand is looking to raise around Rs 20 bn.

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

And to know what's moving the Indian stock markets, 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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