Closing Bell: Sensex falls for 4th straight day, ends 216 points lower; Nifty below 18,600; Jubilant Foods, LTI , Mindtree drop 3% each

Sensex ended 216 points lower while the Nifty ended below 18,600 mark.

5paisa Capital, a discount broking unit belonging to Nirmal Jain-controlled IIFL Group, has decided to buy IIFL Securities' online retail broking business in an all-stock deal.

There has been a paradigm shift in investment bets towards stocks in the capital-intensive sectors due to the strong domestic macroeconomic factors, improving corporate earnings, and strong balance sheets.

Global brokerage firm Jefferies has 19 top buy and 6 top underperform bottom-up ideas in December. Among top buys, it is bullish on ICICI Bank, SBI, IndusInd, Tata Motors, Maruti, TVS, L&T, Lodha, Godrej Properties, Zomato, Sun Pharma and Indian Hotels. Here are the 6 stocks that may underperform:

"A change in stance to dovish going forward by RBI will lead to rally in the banking segment while a prolonged hawkish stance will impact deposit rates and lead to narrowing NIMs, more so for PSBs," said Anil Rego, founder and fund manager at Right Horizons PMS.

After remaining at elevated levels, prices of a number of commodities like steel, copper, special pigment, dyes and others have softened. This will help companies in sectors like home building products where these commodities go as raw materials as input cost pressure would cool off.

Aurodeep Nandi, India Economist and Vice President at Nomura, pointed out that the MPC continued to remain split, with one dissent in favour of a pause, and two dissents against the current stance, further suggesting that the rate hiking cycle is nearing its end.

Exciting times in the market can go both ways - it can be a time of temptation to exit and book profits, or it can be a clarion call to participate in a bull run; a constant guessing game of what might happen next.

Keeping the inflation dynamics in mind, the central bank raised its projection on headline inflation based on the consumer price index for the current quarter and the next quarter by 10 basis points each to 6.6% and 5.9%, respectively.

If a company chooses to pay dividends, it can distribute them quarterly or annually. A few companies also offer special dividends when they have made exceptional profits. This is paid on an irregular basis. If the dividend is declared between two annual general meetings, it is called the interim dividend.

As volatility tightens its grip on Dalal Street, Indian equity markets have corrected from their recent peaks lately. However, market analysts suggest that a number of stocks are on the verge of breakouts on a technical basis and are likely to deliver strong returns in the near term. Based on their recommendations, here are eight stocks that may rally in the coming week:

The company board authorized officials to take necessary steps for availing the exercise of the ‘right of conversion’ of 28,13,050 compulsorily convertible cumulative preference shares of Hanuman Agrofood.

The six-member Monetary Policy Committee (MPC) with a five-to-one majority increased the repo rate. Since May, RBI has hiked the repo rate by 225 basis points.

The company has appointed investment banks Jefferies and Kotak to manage the deal, said the sources, declining to be identified as a deal is likely to be launched in stock markets this week.

In this complex world with both push and pull factors at play, the rate of the Indian rupee, which is market-determined, should be allowed to find its level, and that is what we have been striving to ensure, he said while asking investors to make an objective assessment of the movement of the INR in the context of global and domestic macroeconomic and financial market developments.

Recently, the stock gave a breakout from Ascending Triangle pattern, as well as the consolidation zone from 2007-2022 on the monthly charts adding to the bullish bias. Short-term traders can look to buy the stock for a target of Rs 130-165 in the next 6 months, which translates into an upside of about 50% from Rs 87 recorded on December 6.

There has been a paradigm shift in investment bets towards stocks in the capital-intensive sectors due to the strong domestic macroeconomic factors, improving corporate earnings, and strong balance sheets.

Check out Stock Reports Plus, powered by Refinitiv, for price targets of over 4,000 listed stocks along with detailed company analysis focusing on five key components - earnings, fundamentals, relative valuation, risk and price momentum to generate standardized scores.

Barring FMCG, all sectors were trading in the negative. Among rate-sensitive sectors, Nifty Bank lost 0.37%, while Nifty Auto was down 0.75%. Nifty Realty was the top loser, as it lost 1.5%.

Six stocks with a market cap of over Rs 1,000 crore are witnessing Death Crossovers, according to stockedge.com's technical scan data. The death cross is a technical indicator of bearishness. The death cross appears on a chart when a stock’s short-term simple moving average (SMA) crosses below its long-term moving average on the downside. These stocks' 50-day simple moving averages (SMA) crossed below their 200-day SMAs on December 6. Take a look:

Crypto wallet maker Ledger has partnered with Tony Fadell, the well-known creator of Apple’s iPod and the co-founder and former CEO of thermostat company Nest, to create its Ledger Stax hardware wallet.

The repo rate hike decision was taken by a majority of 5 out of the 6 members of the Monetary Policy Committee.

Amid a rising interest rate cycle and depreciating rupee, FIIs have been net sellers of Indian equities to the tune of Rs 1.25 lakh crore in 2022. December could be the fourth month of positive inflows but it could depend a lot on the outcome of the US Fed meeting on December 14.

Sensex flat ahead of RBI rate decision; Nifty tests 18,650; Siemens jumps 5%, 5Paisa 4%.

While bank fixed deposits or FD interest rates are improving, a handful of stocks still offer better dividend yields. In a report, IDBI Capital has come out with 28 stocks with high dividend yields. We filtered the list to come up with PSU stocks that have a current dividend yield of over 6.90%, higher than SBI's FD rate. Five stocks have made the cut. Take a look:

Morgan Stanley maintained its overweight rating on ICICI Bank with a target price of Rs 1250 with an upside of over 35% from Rs 921 recorded on December 6 , 2022.

VK Vijayakumar, Chief Investment Strategist, Geojit Financial Services said talks of longer-than-expected recession have again surfaced and negative comments from influential voices like Jamie Dimon are impacting sentiments.

S&P BSE Sensex fell more than 200 points while Nifty50 closed below 18,700 levels on Tuesday.

Despite a corrective trend, the Nifty managed to stay above the important 18,600 level on Tuesday, with the broader markets offering stock-specific opportunities.

ET Now spoke to various experts and here's what they have to recommend for today's trading session. Nooresh Merani has a buy/sell recommendation on Power Grid and SBI while Kunal Bothra has a buy/sell recommendation on Petronet and Tata Power for today's trading session. Check out the targets and stop-loss.

Stocks that were in focus include names like Bank of India which was up nearly 5%, Union Bank of India which gained over 6%, and RCF which was up over 3% on Tuesday.

Hatsun Agro Product’s shares will trade ex-rights in respect of the rights issue of 1 share for every 30 shares held offered at a price of Rs 419 per share.

The U.S. central bank last month raised rates by 75 basis points during its fourth consecutive meeting to 3.75%-4%, but it also signaled hopes to shift to smaller hikes as soon at its next meeting.

Nifty futures on the Singapore Exchange traded 28.5 points, or 0.15 per cent, lower at 18,724, signaling that Dalal Street was headed for a negative start on Wednesday. Here are some stocks which may buzz the most in today's trade.

Tata Chemicals is in a sideways trend with some weaknesses. In the last trading sessions, it closes in negative by 1.2%. Based on option chain analysis, the range is between 1000 and 1200. This is a wide range. We are currently at the lower end of this range. Using the PCR ratio, it is at 0.5 and is confirming weakness as of now. Let’s plan a trade around that.

Oil prices have been sliding with declining demand expectations and now sit more than 40% below a high of nearly $140 a barrel made shortly after Russia's invasion of Ukraine.

Most of the 11 major S&P sectors declined, with energy and communications services joining technology as leading laggards. Utilities, a defensive sector often preferred during times of economic uncertainty, was the only exception, gaining 0.7%.

UK-headquartered investment firm and promoter abrdn Investment Management plans to sell its entire 10.21% stake in the HDFC AMC via block deal and will cease to be a co-sponsor of the company.

Nifty futures on the Singapore Exchange traded 28.5 points, or 0.15 per cent, lower at 18,724, signaling that Dalal Street was headed for a negative start on Wednesday.

Most of the 11 major S&P sectors declined, with energy and communications services joining technology as leading laggards. Utilities, a defensive sector often preferred during times of economic uncertainty, was the only exception, gaining 0.7%.

The incoming investor in Concor will own well below 51% of the company, because the government is selling only a minority stake. The new investor's voting power over key resolutions that require shareholders' consent will thus be limited to the amount of shares it holds.

The National Asset Reconstruction Company's (NARCL) bid to take over the debt of the twin Srei Group NBFCs is being questioned by some bankers who believe the government-backed bad-loan aggregator, instead of competing with other funds to take over companies, should focus on its mandate: Consolidate bad loans from banks.

The boards of IIFL Securities and 5paisa.com approved the merger on Tuesday. IIFL Securities shareholders will receive one share of ₹10 paid-up equity of 5Paisa Capital for every 50 shares of ₹2 paid-up of IIFL Securities.

"We expect the merger's completion by Q1FY24 and a few stocks currently on our radar are Pidilite (PIDI), LTIMindtree (LTIM), Ambuja Cement (ACEM) and Tata Power (TPWR)," said Abhilash Pagaria, head, Nuvama Alternative & Quant.

Until now, only public sector mutual funds - SBI, UTI, LIC and Union, among others -- were qualified to handle surplus funds of state-owned companies. Now, at least 35 private mutual funds stand to benefit.

"Traders can look to buy the stock around the current market price for potential targets around Rs 1,090 and Rs 1,140. The stop loss for long positions should be placed below Rs 980," Ruchit Jain, Lead Research, 5paisa.com, said.

The stock rose from Rs 914 recorded on November 28 to Rs 1,036 as on December 5. It closed at Rs 873 as on October 31, which translates into an upside of nearly 19%.

​​“Although we think SBI remains the best state-owned bank, we see potential for notably higher stock returns in BOI and BOB due to much cheaper valuations,” said Morgan Stanley in a client note.

Bank of America dipped 2.9% to lead declines in the financial sector. The lender's chief executive said the bank's research predicted three quarters of mild negative growth next year