Tag: BSE Bankex

Nifty and Sensex end flat amidst volatile trade; financials outperform, BFSI News, ET BFSI

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At close, the Sensex was up 12.78 points or 0.02% at 51,544.30, and the Nifty was down 10 points or 0.07% at 15,163.30. Nifty Bank index added 1% ending at 36,108 while BSE Bankex closed at 40,835 adding 0.99%.

Amongst the top Gainers were- ICICI Bank at Rs 647 adding 2.69 % followed by Bank of Baroda at Rs 78 (1.49%), Bandhan Bank at Rs 337 (1.46%), Axis Bank at Rs 750 (1.39%), SBI at Rs 393 (0.77%), HDFC Bank at Rs 1,581 (0.61%). Major Indices that traded in the red were RBL Bank at Rs 241 (-0.96%), IDFC First Bank at Rs 52 (-0.86%), Kotak Mahindra at Rs 1,951 (-0.51%).

Nifty Financial Services ended at 17,061 adding 0.92%. Amongst the biggest gainers were Indiabulls Hsg at Rs 236 (1.98%) followed by HDFC at Rs 2,791 (1.12%), Bajaj Finserv at Rs 10,278 (0.61%), Bajaj Finance at Rs 5,577 (0.19%). Other major indices that traded in Red were Power Finance at Rs 126 (-0.82%) and Cholamandalam at Rs 468 (-0.65%).

Other key takeaways

India Ratings on GDP growth:
India Ratings and Research estimates the gross domestic product (GDP) growth will bounce back to 10.4% YoY in FY22, primarily driven by the base effect. The estimate also shows that after recording negative growth during 9MFY21, GDP growth will finally turn positive at 0.3% YoY in Q4 FY21.

Although the recovery in FY22 on a YoY basis is expected to be V-shaped, the size of the GDP will barely surpass the level attained in FY20 and will be 10.6% lower than the trend value. The impact of COVID-19 pandemic and lockdown on the economy, although subsiding, will continue to delay the normalisation of economic activities

Gold Updates
International gold and silver prices ended lower on February 11 as the dollar halted its slide. Domestic gold and silver prices ended in the red, tracking weak overseas prices. Gold’s inability to trade back over $1,850, and for silver, the level is $28 has triggered profit-taking in both metals.

Technically, MCX April gold was unable to cross 48,000 and now has reached a support zone near 47,500. Below the level, a downside pressure can be seen up to 47,200-47,000. Resistance is at 47,700-47,950 levels.

MCX March silver holds resistance at 69,000, indicating a sideways to marginal downside momentum up to 68,050-66,200 levels. Resistance is at 69,000-70,500 levels.

Rupee Updates
Indian rupee ended 11 paise higher at 72.75 per dollar, amid volatile trade witnessed in the domestic equity market. It opened higher at 72.81 per dollar against previous close of 72.86 and traded in the range of 72.73-72.83.

S&P 500, Nasdaq Close at Records
The S&P 500 shook off earlier declines to narrowly eke out a record closing high. The Dow ended a tick below its recent record closing level. The Nasdaq advanced to a record high of its own as tech shares outperformed, gaining 0.4% by market close.

Major stock indexes opened modestly higher but gave up those gains by midday and traded lower for most of the afternoon. A flurry of buying activity helped the S&P 500 and Nasdaq bounce back from their lows in the final minutes of trading.

London stocks falls
London’s main stock indexes fell on Friday, as data showed the UK economy shrank by a record 9.9% last year due to nationwide shutdowns that were imposed to curb the spread of COVID-19.

Official figures released on Friday, showed gross domestic product (GDP) grew 1.0% between October and December, at the top end of the range of forecasts by economists in a Reuters poll.



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Markets lose upward rally and closes flat; Nifty and sensex suffer minimal loss, BFSI News, ET BFSI

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The benchmark indices erased all the intra day gains and ended with marginal losses, breaking the six day winning momentum. The Sensex was down at 51,329.08, and the Nifty was down 0.04% at 15,109.30. Nifty Bank ended at Rs 36,065 adding 0.20% while BSE Bankex ended at Rs 40,724 adding 0.16%.

Amongst the top Gainers were- PNB at Rs 39 adding 2.76% followed by IDFC First Bank at Rs 50 adding 1.73%, Axis Bank at Rs 742 (0.86%), ICICI Bank at Rs 633 (0.60%), HDFC Bank at Rs 1,661 (0.41%). Major Indices that traded in the red were Induslnd Bank at Rs 1,025 (-0.90%), Bandhan Bank at Rs 328 (-0.71%), SBI at Rs 394 (-0.57%).

Nifty Financial Services ended at 16,905 adding 0.25%. Amongst the biggest losers were Bajaj Finance at Rs 5,400 (-1.77%) followed by Power Finance at Rs 125 (-1.68%), Bajaj Finserv at Rs 9,941 (-0.79%), Cholamandalm at Rs 459 (-0.34%). while all other major indices traded in Red, few managed to remain in the Green including HDFC at Rs 2,747 adding 0.50% and Indiabulls Hsg at Rs 218 (0.05%).

Other key takeaways

Fitch Ratings
India’s 2021-2022 budget has proposed relaxing foreign-ownership caps on insurers and listing India’s largest state-owned insurer, measures that Fitch Ratings says will help the industry attract foreign capital, strengthen solvency and promote competition.

The proposals could encourage global insurers to enter the fast-expanding Indian market, while international insurers already holding minority stakes in domestic companies may try to increase their ownership over the medium term.

Bitcoin jumps to new highs
Bitcoin extended gains on Tuesday to a record high as the afterglow of Tesla Inc’s investment in the cryptocurrency had investors reckoning it would become a mainstream asset class for both corporates and money managers.

Bitcoin has more than doubled over two months as institutional investors search for alternative wealth stores and retail traders ride the wave. Monday’s leap after Tesla’s announcement was its largest daily rise in more than three years. It climbed to a new peak of $48,216 late in the Asian afternoon on Tuesday. Rival cryptocurrency ethereum had struck a record high of $1,784.85 in the early morning.

Central Bank Of India Q3
Net profit was up 6.5 percent at Rs 165.4 crore against Rs 155.3 crore (YoY). NII was up 10.2 percenat Rs 2,228.1 crore against Rs 2,021.9 crore (YoY). Gross NPA at Rs 29,486.1 crore against Rs 30,785.4 crore (QoQ). Net NPA at Rs 7,514.7 crore against Rs 8,683.6 crore (QoQ). Provisions at Rs 743.7 crore against Rs 1104.9 crore QoQ and against Rs 1,249.2 crore YoY.

Gold Updates
International gold and silver rose on Monday as expectations of a large US economic stimulus package bolstered bullion’s appeal. Domestic gold and silver prices rose on Monday tracking overseas prices. Domestic bullion traded flat to higher this Tuesday morning, tracking the overseas markets.

Technically, MCX Gold April resistance now is at 47950-48280 level. Support is at 47600-47350 levels. MCX Silver March witnessed a bounce back from 21-DMA at 67300 level & ended above 70000 indicating a sideways to upside momentum upto 70800-71500 levels.

Rupee Updates
Indian rupee ended higher by 8 paise at 72.88 per dollar, amid profit booking seen in the domestic equity market. It opened 8 paise higher at 72.88 per dollar against previous close of 72.96 and remained in the range of 72.84-72.93. The fund inflow from USA keeps dollar prices at check from rising, which helps rupee appreciation, along with no weakness in capital markets



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A bad day for Indian markets; Sensex down by 900 points while Nifty ends below 14k mark, BFSI News, ET BFSI

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At close, the Sensex was down 1.94% at 47,409.93, and the Nifty was down 1.91% at 13,967.50. About 1053 shares have advanced, 1809 shares declined, and 141 shares are unchanged. Nifty bank index traded red at Rs 30,284 down by 2.93%, while BSE Bankex ended at 34,334 down by the same percentage.

Amongst the top losers were- Axis Bank at Rs 632 down by 3.99%, followed by HDFC Bank at Rs 1,409 (-3.64%), Induslnd Bank at Rs 820 (-3.42%), ICICI Bank at Rs 522 (-2.92%), PNB at Rs 33 (-2.34%), SBI at Rs 275 (-1.89%),Bandhan Bank at Rs 303 (1.89%) and Kotak Mahindra Bank at Rs 1,765 (-1.66%). While all the major indices traded in the red, Bank of Baroda traded higher at Rs 74 adding 0.27%.

Nifty Financial Services ended at 14,723 down by 2.77%. Amongst the top losers were HDFC at Rs 2,467 down 3.31% followed by Cholamandalam at Rs 410 (-2.40%), Power Finance at Rs 111 (-2.36%), Indiabulls Hsg at Rs 197 (-1.76%),Bajaj Finance at Rs 9,126 (-0.79%).

Other key takeaways

India’s GDP to contract 8% in FY21: FICCI Survey
India’s gross domestic product (GDP) is expected to contract by 8 per cent in 2020-21, according to the latest round of FICCI’s Economic Outlook Survey.

The annual median growth forecast by the industry body is based on responses from leading economists representing industry, banking and financial services sector. The survey was conducted in January. The median growth forecast for agriculture and allied activities has been pegged at 3.5 per cent for 2020-21.


Expert views on the latest IMF‘s GDP projection

Gaurav Garg, Head Research, CapitalVia Global Research Limited – Investment Advisor:
“The IMF on Tuesday projected an impressive 11.5% growth rate for India in 2021, making the country the only major economy of the world to register double-digit growth this year amidst the coronavirus pandemic. This projection could help the Indian market attract more foreign investors which could eventually help the economy to recover even faster.”

V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services:
“IMF revising global GDP growth upwards to 5.5% and India’s growth to 11.5% in 2021 is good news. The sharp turnaround in growth will ensure that the current trend of impressive corporate results will sustain. On the negative side, we had two consecutive days of FII selling in the market. It appears that the market is a bit apprehensive of some budget tax proposals which may not be market-friendly.”

Gold Updates
COMEX gold trades 0.3% lower near $1845/oz after a 0.2% decline yesterday. Gold is pressurized by increasing debate about the US stimulus package and position squaring ahead of the Fed’s monetary policy meeting.

Technically, MCX Gold April is holding a resistance near 49500 levels where its immediate support is at 48900 levels. It could trade within these ranges. MCX Silver March is trading near 66500 level and above which will continue its bullish rally up to 67200-67900 levels. Support is at 65800-65000 levels.

Domestic gold and silver ended flat on Monday. Indian markets are shut on Tuesday on account of Republic Day holiday. Domestic bullion could trade flat-to-marginally lower this Wednesday morning, tracking the international prices.

Bank of Baroda Q3:
Company’s net profit was at Rs 1,061.1 crore in the quarter ended December 2020 against loss of Rs 1,407 crore in the same quarter last year. It net interest income (NII) was up 8.6% at Rs 7,749 crore versus Rs 7,132 crore, reported CNBC-TV18. Its gross NPA was at 8.48% versus 9.14% and net NPA was at 2.39% versus 2.51%, QoQ.

Rupee Updates
Indian rupee erased most of the intraday gains and ended near the day’s low level at 72.92 per dollar, amid profit booking saw in the domestic equity market.It opened flat at 72.94 per dollar against Monday’s close of 72.95 and traded between 72.78-72.94.



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Nifty ends above 14,500 aided by financials; Sensex jumps 800 points, BFSI News, ET BFSI

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At close, the Sensex was up 1.72% at 49,398.29, and the Nifty added 1.68% at 14,521.20. About 2077 shares have advanced, 861 shares declined, and 139 shares are unchanged. Nifty bank index traded green at Rs 32,424 adding 1.94%, while BSE Bankex ended at 36,730 up by 1.95%.

Amongst the top gainers were- IDFC First Bank at Rs 50 adding 7.50, followed by RBL Bank at Rs 254 (-4.03), Bank of Baroda at Rs 75 (3.70%), PNB at Rs 36 (2.96%), ICICI Bank at Rs 546 (2.49%), Kotak Mahindra Bank at Rs 1,887 (-2.17%), Bandhan Bank at Rs 362 (1.77%).

Nifty Financial Services ended at 15,614 adding 2.41%. Amongst the top gainers were Cholamandalam at Rs 437 adding 7.01% followed by Bajaj Finserv at Rs 8,924 (6.82%), Indiabulls hsg at Rs 240 (6.75%),Bajaj Finance at Rs 4959 (5.07%) and Power Finance at Rs 122 (4.17).

Other key takeaways

Indian Railway Finance Corporation IPO subscribed fully:
The public offer of Indian Railway Finance Corporation has been subscribed 1.01 times on January 19, the second day of bidding, largely supported by retail investors so far. The IPO has received bids for 126.7 crore equity shares against offer size of over 124.75 crore equity shares (excluding anchor book portion), the subscription data available on the exchanges showed.

The portion set aside for retail investors witnessed subscription of 1.95 times and that of employees 18.27 times, while the reserved portion of non-institutional investors was subscribed 17.4 percent and that of qualified institutional buyers 0.02 percent.

Gold Updates
Gold prices on the MCX in the futures market were weak by a tad and this is in line with international gold pricing. At around 11:38 am, gold on the MCX quoted down by Rs. 44 or 0.09% at Rs. 48850 per 10gm. Silver on the other hand was firm at Rs. 65507 per kg.

Internationally price of gold has gained as a larger US bail-out outweighs any firmness in the dollar. Furthermore, back in India the roll out of the coronavirus vaccine which began on January 16, 2021 is seen as a positive propelling risk sentiment and in turn taking the sheen out of safe haven assets such as gold.

Rupee Updates
Indian rupee erased some of the gain but still traded higher at 73.22 per dollar, amid buying seen in the domestic equity market. It opened 11 paise higher at 73.17 per dollar against previous close of 73.28. The dollar-rupee January contract on the NSE was at Rs 73.32 in the last session. The open interest increased almost 15% in the February series while marginal decline was seen in January series contracts.

Wall Street ends higher:
U.S. stock futures moved higher early Tuesday as Wall Street looked to bounce back from a rough week ahead of President-elect Joe Biden’s inauguration. Futures contracts tied to the Dow Jones Industrial Average rose 166 points. Those for the S&P 500 and the Nasdaq 100 also traded in positive territory.

The move in futures comes after a slump for equities last week. The Nasdaq Composite and S&P 500 lost 1.5%, while the Dow was off 0.9%, respectively. It was the worst week for the three major indexes since October.



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Nifty ends below 14,450 dragged by financials, BFSI News, ET BFSI

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Sensex managed to hold on to the 49,000 mark despite falling 550 points. Nifty fell 1.11% at 14,433. All sectoral indices were in the negative zone, with banks, IT and pharma worst hit. At close, Nifty bank index traded lower at Rs 32,246 down by -0.84%, while BSE Bankex ended at 36,540 down by -0.99%.

Amongst the top losers were- PNB at Rs 35 (-2.85), followed by ICICI bank at Rs 543 (-1.86), Kotak Mahindra at Rs 1863 (-1.52), Bank of Baroda at Rs (-1.38%), SBI at Rs 303 (-1.11%), Induslnd Bank at Rs 965 (-0.38%), Axis bank at Rs 674 (-0.17%). IDFC first Bank traded in the green adding 4.76% at Rs 48.

Nifty Financial Services ended at 15,453 down by 1%. Amongst the top losers were HDFC at Rs 2,632 down by -1.91% followed by Indiabulls hsg at Rs 230 (-1.03%), Cholamandalam at Rs 424 (-0.48%). Bajaj Finance and Power Finance traded green adding 0.13% and 0.41% respectively.

Other key takeaways

Economic recovery likely to boost gold demand in India this year: WGC
Gold demand appears to be positive in India as the consumer sentiment is likely to recover in 2021, from its dismal performance due to the coronavirus pandemic-related disruptions and volatile price movement, according to a report by the World Gold Council (WGC).

Initial data about the Dhanteras festival in November suggest that while jewellery demand was still below average, it had substantially recovered from the lows seen in the second quarter (April-June 2020) of last year, according to the report.

Budget session to begin from Jan 29, Budget on Feb 1:
The Union Budget 2021-22 would be presented on February 1, confirmed the Lok Sabha Secretariat. The Parliament session would be starting from January 29, and would be held in two phases.

“The fifth session of 17th Lok Sabha will commence on Friday, the 29th January, 2021. Subject to exigencies of government business, the session is likely to conclude on Thursday, the 8th April, 2021,” said an official press release by the Lok Sabha Secretariat.

Indian bond yields rise:
India’s benchmark bond yield rose on Friday to a three-week high as a lack of an open market operation announcement disappointed investors ahead of a debt sale and variable rate reverse repo auction later in the day.

The Reserve Bank of India last week said it would conduct a variable rate reverse repo auction for 2 trillion rupees ($27 billion) on Jan. 15 on review of the evolving liquidity and financial conditions.

Rupee ends at days high
The movement in USDINR spot is in tandem with other Asian peers and going ahead the optimism over US stimulus package will keep it lower. Indian rupee ended marginally lower at 73.12, amid selling saw in the domestic equity market. It opened lower at 73.08 per dollar versus Thursday’s close of 73.04 and traded in the range of 72.99-73.17.

Wall Street ends lower:
Wall Street closed lower on Thursday after making a u-turn toward the end of the session as reports emerged about U.S. President-elect Joe Biden’s pandemic aid proposal following earlier data that showed a weakening labor market.

The Dow Jones Industrial Average finished down 68.95 points, or 0.22%, at 30,991.52 while the Nasdaq Composite dropped 16.31 points, or 0.12%, to 13,112.64. The S&P 500 lost 14.3 points, or 0.38%, to close at 3,795.54.



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Nifty ends with fresh record highs above 14,550; Nifty Bank adds 1%, BFSI News, ET BFSI

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Nifty bank index traded Green at Rs 32,339 adding 1.06%, while BSE Bankex ended at 36,450 adding 0.62%.

Shares that contributed the most were- IDFC First Bank at Rs 47 adding 6.07% followed by Bank of Baroda at Rs 70 (10.12%), PNB at Rs 36 (4.58%), SBI at Rs 292 (3.54%), HDFC Bank at Rs 1,481 (2.04%). While all the other major indices remained green, Kotak Mahindra traded lower at Rs 1,903 (-1.79%), Bandhan Bank at Rs 391 (-4.15%) and Induslnd Bank at Rs 927 (-0.16%).

Nifty Financial Services ended at 15,711 adding 0.68%. Amongst the top gainer were Cholamandalam at Rs 443 adding 3.81% followed by Power Finance at Rs 121 (1.42%), Bajaj finance at Rs 5,042 (1.16%), Indiabulls Hsg at Rs 234 (0.13%). Bajaj Finserv shares traded lower at Rs 8,959 (-0.30%) along with HDFC Shares at Rs 2,747 (-0.13%).

Other key takeaways

India’s GNPA could double by September
The central bank on Monday said that the gross non-performing asset (GNPA) ratio of banks could double to reach 13.5% by September this year in a base scenario while on the higher side it is expected to reach 14.8%. The GNPA ratio is used to assess loan losses in the banking sector.

The RBI in the report said that if a severe stress situation occurs the bad loan ratio of the banking system could be the highest since March 1997, when it stood at 15.7%.

PSU Banks under strain
“Two important developments are: bond yields rising in the US and the dollar index again rising above 90. Both these are negatives from the emerging market perspective, but FII inflows continue to be robust, pushing markets higher. Meanwhile the RBI in its Financial Stability Report expressed concern about high potential NPAs of the banking system which may rise above 14%.

PSU banks are likely to be under strain.The well-capitalized large private sector banks are strong and are likely to gain from the woes of the PSU banks,” said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

Rupee ends at days high
With the dollar Index and US yields rising and RBI warning on stock markets/asset prices it seems that we may see some risk aversion in near term. Indian rupee recovered from the lows and ended at day’s high at 73.25 per dollar, amid buying saw in the domestic equity market. It opened marginally lower at 73.42 per dollar against previous close of 73.38 and remained in the range of 73.24-73.47.

Gold Updates
Gold prices in India rebounded to trade flat with a positive bias on the Multi Commodity Exchange (MCX) Tuesday tracking a mixed trend in the international spot prices, while silver prices also traded flat.

Gold futures for February delivery rose 0.09% to Rs 49,383 per 10 grams as against the previous close of Rs 49,341 and the opening price of Rs 49,320 on the MCX. Silver futures traded 0.10% higher at Rs 65,619 per kg. The prices opened at Rs 65,444 as compared to the previous close of Rs 65,555 per kg.

US stocks finish lower with new risks:
A slide in shares of technology giants weighed on the broader market Monday as investors grew wary of the potential for heightened regulation tied to the market’s most enduring winners.

The S&P 500 declined 25.07 points, or 0.7%, to 3799.61 after hitting a record on Friday. The tech-heavy Nasdaq Composite dropped 165.54 points, or about 1.3%, to 13036.43. The Dow Jones Industrial Average shed 89.28 points, or 0.3% to 31008.69.



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Nifty and Sensex hit its fresh record highs in today’s market rally, BFSI News, ET BFSI

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Nifty bank index traded Green at Rs 32,084 adding 0.40%, while BSE Bankex ended at 36,658 adding 0.46%. The rally in the market was broad-based as the Midcap and Smallcap indices clocked gains of about a percent.

Shares that contributed the most were- Bandhan Bank at Rs 419 adding 3.35% followed by HDFC Bank at Rs 1,431 (1.09%), Kotak Mahindra at Rs 1,970 (0.94%), Axis Bank at Rs 672 (0.24%), ICICI Bank at Rs 542 (0.18%). While all the other major indices remained green, Induslnd Bank at Rs 939 (-1.29%) and SBI traded lower at Rs 286 (-0.59%).

Nifty Financial Services ended at 15,511 adding 0.56%. Amongst the top gainer were Indiabulls HSG at Rs 241 adding 3.08%, followed by Bajaj finserv at Rs 9,171 adding 2.02%, Power Finance at Rs 120 (1.38%), Cholamandalam at Rs 431 (0.10%). HDFC Shares traded lower at Rs 2,657 (-0.14%).

Other key takeaways

India’s GDP to contract by 7.7% in 2020-21: Government
The central government projects the country’s economy to contract by 7.7 percent in the current fiscal year 2020-21, as per the first advance estimates of GDP released by the National Statistical Office on January 7.

“The movement of various high-frequency indicators in recent months, points towards broad-based nature of resurgence of economic activity. The relatively more manageable pandemic situation in the country as compared to advanced nations has further added momentum to the economic recovery,” the government said in a press release.

Bitcoin hit $40,000 for first time and falls by 5% a day later
Bitcoin topped $40,000 for the first time on Thursday, as it continues a rally that has seen the digital currency climb more than 700% from a March 12 closing low.

Bitcoin fell more than 5 percent on Friday, a day after topping $40,000 for the first time. The world’s most popular digital currency fell as low as $36,750 on Bitstamp exchange, after reaching an all-time high of $40,402.46 in the previous session

Rupee trades flat
Indian rupee erased early losses and traded flat around 73.32 per dollar, amid buying witnessing in the domestic equity market. It opened lower at 73.39 per dollar against Thursday’s close of 73.32.

Gold Updates
Gold prices traded down with COMEX spot gold prices fell below USD 1,890 per ounce on Friday losing more than 1 percent. Gold February future contracts at MCX were trading down to Rs 50,242 per 10 grams with fall in COMEX prices. Experts Expect gold prices to trade down with COMEX gold resistance at USD 1,910, support at USD 1,860. MCX Gold February support lies at Rs 49,700 with resistance at Rs 50,400.

Wall St ends higher:
Stocks on Wall Street hit record levels on Thursday as investors bet a Democrat-controlled Congress will deliver more stimulus spending to help the U.S. economy overcome a steep pandemic-induced downturn.

The Dow, S&P 500 and Nasdaq all set new highs amid growing calls for President Donald Trump’s removal, one day after Trump supporters stormed the U.S. Capitol in a harrowing assault on American democracy.



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Nifty ends above 13,900; Banks and Financials outperform, BFSI News, ET BFSI

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Benchmark indices rallied in the fifth consecutive session, closing at fresh record highs supported by the financial. Nifty bank index traded higher at Rs 31,322 adding 1.43%, while BSE Bankex ended at 35,948 adding 1.41%.

Shares that contributed the most were- Induslnd Bank at Rs 912 adding 5.30% followed by PNB at Rs 33 (2.47%), Axis Bank at Rs 639 (2.03%), ICICI Bank at Rs 528 (1.67%), HDFC Bank at Rs 1,427 (1.02%) and State Bank Of India at Rs 277 (0.98%). While all the other major indices remained green, Bank Of Baroda traded lower at Rs 62 (-0.08%).

Nifty Financial Services ended at 15,120 adding 1.03%. HDFC was the top gainer at Rs 2,518 adding 1.72%. Shares that traded lower were- Bajaj Finance at Rs 8,976 (-0.21%), Cholamandalam at Rs 383 (-0.83%) and Indiabulls HSG at Rs 216 (-0.41%).

Other key takeaways

Rupee Updates
Indian rupee ended higher by 8 paise at 73.42 per dollar, amid buying seen in the domestic equity market. It opened higher by 6 paise at 73.44 per dollar against previous close of 73.50 and remained in the range of 73.34-73.44.

Gold Updates
Bullion prices traded steady on Tuesday with spot gold prices at COMEX was trading marginally up to $1,878 per ounce while spot silver prices at COMEX was trading near $26.29 per ounce in the morning trade. Bullion prices gained on dollar decline as US house supported US President Trump’s proposal for $2,000 checks.

MCX Gold February resistance for the day lies at Rs 50,400 per 10 grams with support at Rs 49,800 per 10 grams. MCX Silver March support lies at Rs 67,500 per KG, resistance at Rs 69,500 per KG.

Prime Focus adds 14% after Reliance Capital opposes the stake
Prime Focus touched 52-week high of Rs 58.95, rising nearly 14 percent intraday on December 29 after Reliance Capital opposed the stake sale by Credit Suisse. Reliance Capital in its press release said that SEBI is to order a thorough investigation in this matter and immediately prevent/restrain Credit Suisse from selling the Prime Focus shares



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