2022-12-19 15:30:40
Daily News Analysis
1) Indian Benchmark Indices enter the Bull zones- After ending the previous week in bear zone, Indian Benchmark Indices re-entered the bull zone on Monday, leaving investors in an optimistic excitement for the week ahead. Nifty50 gained 151 and SENSEX gained 468 points to close at 18,420.45 and 61,806.19 respectively. Amongst the sectors, NIFTY Auto turned to be the best performing sector gaining 203 points, where Mahindra & Mahindra and Eicher Motors Ltd got listed on the top performing stocks of the day. NIFTY IT, however turned red declining more than 140 points, where TCS became the worst performing stock closing at 3,202.05 declining by 1.18%
2) Rupee gains as dollar index slips- The Indian rupee rose against the dollar on Monday as the greenback declined against its major peers, while forward premiums added to last week's surge. The rupee last traded at 82.6950 per U.S. dollar, up from 82.87 in the previous session. The local currency opened at 82.81, today.
3) Sugar stocks turn sweeter- Sugar stocks saw heavy buying for the 2nd straight session on December 19 as the government may weigh raising the sugar export quota for the FY22-23, after assessing domestic production in January 23. India’s production in the 2022-23 sugar season, which began in October '22, is estimated at a record 410 lakh tonnes before considering diversion towards ethanol. Major Sugar stocks such as - Dhampur Sugar Mills and Dalmia Sugar Ltd gained more than 10% throughout the day. At an overall market level - Rajshree Sugar & Chemical Ltd gained the most, adding 20% in its biggest single-day gain.
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