ONLY IN: Wipro share buyback opens on December 29 and closes on January 11
Opening bell: Sensex opens more than 200 points higher, Nifty above 13,650; the broader markets exceed
Indian indices opened higher on Thursday, following the gains of their Asian peers ahead of the Christmas holidays as global investors applauded a possible Brexit deal and the prospects for an economic recovery. All sectors, except the IT index, witnessed purchases in the early morning deals. At 9:18 a.m., the Sensex rose 249 points to 46,694 while the Nifty rose 70 points to 13,671. The broader markets continued to outperform the benchmark indices with the mid- and small-cap indices rising 0.8 percent and 1 percent, respectively. In the Nifty50 index, ONGC, Tata Motors, Bharti Airtel, GAIL and Bajaj Auto were the main winners, while Infosys, Wipro, Asian Paints and TCS were the only losers.
Brexit trade deal marathon reaches finish line
Britain and the European Union appeared to be close to closing a long-elusive trade deal on Wednesday, raising hopes that they were now ready to avoid a turbulent economic breakdown on New Year’s Day. A senior British government source said Prime Minister Boris Johnson was ready to strike a trade deal with the EU, after media reports said the deal had already been made, just over a week. before the UK completes its trip out of the block. But there was no official confirmation from either party that the months of negotiations had come to an end. A source at the EU Executive Commission said the talks were still ongoing, albeit in their “final stages”, and an EU official warned against excluding the risk of a “no deal” scenario on January 1. More information here
Bharat Biotech’s Covaxin Shows Encouraging Results In Clinical Trials: Research Article
Covaxin, a COVID-19 vaccine developed by Bharat Biotech, showed long-term memory responses of antibodies and T (immune) cells three months after injection in phase 1 volunteers and tolerable safety results in phase 2 study , the city-based company has said, suggesting that the antibodies may persist for six to 12 months. In phase 2, it also showed enhanced humoral and cell-mediated immune responses and the results were found in the clinical trial of safety and immunogenicity of the candidate vaccine. More here
Asian stocks point to gains as hopes for Brexit deal grow
Asian stocks were expected to rise on Thursday before the Christmas break as global investors applauded a potential Brexit deal and the prospects for economic recovery, largely ignoring the threat from US President Donald Trump of veto a long-awaited COVID relief package. Australia’s S & P / ASX 200 was up 0.78 percent in early trading, while Japan’s Nikkei 225 futures were up 0.07 percent and Hong Kong’s Hang Seng index futures were up 0, 17 percent. Investors applauded a potential Brexit trade deal between Britain and the European Union that raised hopes that the separated allies would avoid a turbulent economic breakdown on New Year’s Day. MSCI’s gauge of world stocks rose 0.02 percent, having recovered some earlier gains in rare holiday trading. More here
Gold may retest the Rs 53,000 level in 2021; buy in long-term sauces: Nirmal Bang
Gold prices are likely to retest the 53,000 rupee level in 2021 thanks to the sustained infusion of liquidity from global central banks into markets, analysts said. Speaking to CNBC-TV18, Nirmal Bang’s Kunal Shah said he was bullish on precious metals for 2021 and expected gold prices to rise to Rs 52,000-53,000 by 10 gram levels on MCX. Shah also expects silver prices to rise and test the level of Rs 74,000-75,000 per kg in the domestic market next year. Shah suggests re-entering a long position in gold around the Rs 49,500 level for a target of Rs 52,000-53,000 conservatively in 2021. Silver can be bought at levels of Rs 64,000-65,000, he said. More here
First, here is a quick update on what happened in the markets on Wednesday
Indian indices closed higher on Wednesday after a rally in TI shares overshadowed weak global investor sentiment stemming from the rapid spread of a new strain of the coronavirus in the UK. Gains in the consumer goods, pharmaceutical and automotive sectors also boosted national confidence. The Sensex closed 437 points higher at 46,444 while the Nifty rose 135 points to 13,601. However, the market as a whole outperformed the benchmark indices with the mid-cap and small-cap indices rising 2-3 percent each. In the Nifty50 index, Wipro, Cipla, Tata Steel, Tata Motors and HUL were the main winners, while Hero Moto, Divi’s Labs, Titan, NTPC and Powergrid led the losses.
Welcome to the CNBC-TV18 Market Live blog
Good morning readers! This is Pranati Deva from the market desk of CNBC-TV18. Welcome to our market blog, where we provide live news coverage of the latest events in the stock market, business and the economy. We’ll also get instant reactions and guests from our stellar lineup of television guests and editors, researchers, and internal reporters. If you are an investor, we wish you a great trading day. Good luck!
