Stock Market Highlights | Sensex, Nifty 50 stage smart recovery led by L&T, NTPC, M&M

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“India’s domestic industrial production and manufacturing PMI exceeded expectations, a clear reflection of the continuation of economic growth in H2FY24. However, a simultaneous challenge emerges as retail inflation stands at 5.5%, still much above the RBI’s 4% target. This inflationary pressure, driven by high food inflation and the looming spectre of El Niño, is poised to persist. The market’s focus now shifts to the upcoming FOMC meeting. And the recent global upside is getting far stretched in anticipation of a rapid fall in US Fed rate in CY2024,” says Vinod Nair, Head of Research at Geojit Financial Services.

Sensex Rises 34 Points To 69,584 & Nifty 26 Points To 20,932

Nifty Bank Falls 5 Pts To 47,092, Midcap Index Rises 391 Pts To 44,947
IT Stocks Weigh On Market As Investors Remain Cautious Ahead Of FOMC Decision

REC, PFC Hit Record Highs, Top Midcap Gainers, Rise Up To 9% Higher

M&M Ends Up 2% Higher On Plans To Invest `525 Cr In Classic Legends

PI Ind Ends In The Red But Off Lows After Co Retains FY24 Growth Guidance

Axis Bank Ends More Than 1% Lower After 3.09 Cr Shares Change Hands Via Block

GMR Airports Surges 5% With Healthy Volumes To Hit Multi-year Highs

Nifty Realty Hits Record High, Prestige Estates Up Nearly 6%

IndiGo Hits Record High Intra-day, Ends Nearly 2% Higher

Positive Brokerage Note Lifts NMDC, Stock Closes 4% Higher

Market Breadth Favours Advances, NSE Advance-Decline Ratio Stands At 1:2

Granules India announced on Wednesday, December 13, that it has received approval for the Pantoprazole Sodium delayed-release tablets from the United States Food and Drug Administration (USFDA). The drug is used for treating damage from Gastroesophageal Reflux diseases.

The US drug regulator has approved the company’s Abbreviated New Drug Application (ANDA) for Pantoprazole Sodium Delayed-Release Tablets in the dosages of 20mg and 40mg, Granules India said in a filing to the stock exchanges.

Read more here

Here are a couple of stock recommendations by Soni Patnaik of JM Financial Services:

– Buy Bank of Baroda at if it is able to cross and breakout the resistance of ₹220 enter the stock at a target of Rs 240 to 245 with a stop loss of Rs 210
– Buy GAIL at a target of Rs 155 with a stop loss of Rs 134

#CNBCTV18Market | #SBI recovers more than 1% from Intra-day lows pic.twitter.com/jnGRwBtjti

— CNBC-TV18 (@CNBCTV18Live) December 13, 2023

#SundramFasteners | Tamil Nadu Government approves application submitted under state incentive schemes. Company is eligible to receive incentives of ₹211.80 crore in equal installments over 10 years#StateIncentiveScheme #Incentives pic.twitter.com/vFfty6nCH7

— CNBC-TV18 (@CNBCTV18Live) December 13, 2023

Here are a couple of stock recommendations by technical analyst Mitessh Thakkar:

– Buy Aurobindo Pharma at a target of Rs 1,070 with a stop loss of Rs 1,018
– Buy Nazara Tech at a target of Rs 940 with a stop loss of Rs 815

IndiGo shares hit their record high of Rs 3,007 apiece, earlier in trade today.

Shares of SpiceJet were under pressure in Wednesday’s trade after the low-cost carrier reported a ₹431 crore loss for the September quarter.

The stock also got a bump up from a sharp fall in crude oil prices. Jet fuel alone accounts for 40% of an airline’s operational cost.

Read more here

Here are a couple of stock recommendations by Aditya Agarwala of Invest4edu:

– Sell Maruti Suzuki at a target of Rs 10,000 with a stop loss of Rs 10,500
– Buy Kotak Mahindra Bank at a target of Rs 1,880-1,900 with a stop loss of Rs 1,790

Strides Pharma shares are in the green for the fourth day today, up 4.9%.

The stock hit its 52-week high of Rs 577.4, earlier today.

It has gained 61% this year, so far.

Leading commercial vehicle manufacturer Ashok Leyland shares gained nearly 3% on Wednesday after the company unveiled the AL H6 Diesel – CEV Stage V engine at EXCON 2023 in Bengaluru.

The company unveiled its new diesel engine along with other innovative products showcasing its versatility for various applications.

Read more here

#JustIn | External Investors & M&M to invest ₹875 crore over next 2-3 years in Classic Legends

👉 Classic Legends owns brands including #Jawa, #Yezdi & #BSA pic.twitter.com/Il5s40sVoi

— CNBC-TV18 (@CNBCTV18Live) December 13, 2023