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Rupee Opens:
Indian rupee opened higher at 75.46 per dollar on Thursday against previous close of 75.55.
The US dollar declined 0.44% yesterday amid a rise in US stocks. Market sentiments improved as strong economic data from the US ease concern over a slowdown in the economy due to rising Covid-19 cases. US consumer confidence improved in early December and home sales rose in November, said ICICI Direct.
Rupee future maturing on December 29 appreciated by 0.05% on weak dollar and rise in risk appetite in the domestic markets. However, sharp gains were prevented on persistent FII outflows, it added.
Market at 10 AMBenchmark indices were holding on the early gains with Nifty above 17,000 level.The Sensex was up 431.74 points or 0.76% at 57362.30, and the Nifty was up 125.20 points or 0.74% at 17080.70. About 2167 shares have advanced, 638 shares declined, and 86 shares are unchanged.
MedPlus Health Services lists at Rs 1,040
MedPlus Health Services, the country’s second largest pharmacy retailer, listed with a decent 30.65 percent premium on December 23.
The stock opened at Rs 1,015 on the BSE, and at Rs 1,040 on the National Stock Exchange, higher than the issue price of Rs 796 per share.
BSE Oil & Gas index added 1 percent supported by IOC, ONGC, HPCL, Gail India
GPT Infraprojects bags order worth Rs 187.81 crore
GPT Infraprojects bagged the contract from office of the General Manager, Tender & Contract, Maharashtra Rail Infrastructure Development Corporation Limited.
The contract included construction of cable stayed road over bridge (ROB) near Byculla railway station at Railway Km 3/16-18 between Sandhurst Road – Byculla stations on CSTM-Dadar section in Mumbai Division of Central Railway.
GPT Infraprojects was quoting at Rs 82.70, up Rs 6.75, or 8.89 percent on the BSE.
Nifty Metal index added 1 percent led by the Welspun Corp, Hindustan Zinc, Hindustan Copper
Aayush Agrawal, Senior Analyst, Swastika Investmart:
Medplus, the second-largest pharmacy retail chain in India is debuting the secondary market. The outlook for the industry is bullish and the performance of the company is ok with reasonable valuation however the sentiments have changed a little jittery for IPO listing for the last few days. Grey market is suggesting roughly around 10% of listing gain.
Gainers and Losers on the BSE Sensex in the early trade:
Market Opens: Indian indices opened on positive note on December 23 with Nifty above 17000 on the back of positive global cues.
At 09:16 IST, the Sensex was up 296.89 points or 0.52% at 57227.45, and the Nifty was up 87.40 points or 0.52% at 17042.90. About 1508 shares have advanced, 271 shares declined, and 50 shares are unchanged.
Adani Ports, Bajaj Finance, IOC, Bajaj Finserv and ONGC were among major gainers on the Nifty, while losers were UPL and Divis Labs.
Mohit Nigam, Head – PMS, Hem Securities:
Indian markets jumped over 1 percent each on Wednesday. Today, markets are likely to continue their bull run with positive start on firm global cues. However, volatility cannot be ruled out on account of potential risk from the Omicron variant. India has so far recorded close to 250 cases of Omicron across 15 states.
On the technical front, 16,500 and 17,200 are immediate support and resistance for Nifty 50. For Nifty Bank, 34,600 and 35,500 might act as immediate support and resistance respectively.
Hot Stocks | Here’s Why You Should Buy Mindtree, Sell Axis Bank In Short-term
Nifty has reached a good hurdle zone of 16,950. If it manages to sustain above it, then some short-covering can’t be ruled out and 17,140 will be the next level for the index. The immediate support is…
