Market LIVE: Sensex up 100 pts, Nifty above 17,200; Pharma stocks in focus

Sebi tightens rules amid IPO frenzy

The markets regulator on Tuesday tightened rules for initial public offerings aimed at tackling regulatory gaps and extreme stock price volatility on their trading debut, after a record year for IPOs that saw Indian companies raise ₹1.19 trillion.

The new rules address how companies set IPO price bands, when anchor investors can sell their shares, disclosures about how the company can spend share sale proceeds, and how much large shareholders can sell on listing day.

Markets opening view: Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments

It is heartening to see the Nifty above 17250; it needs to close above this level. That is crucial. If we can trade between 17250-17300 for a couple of sessions we should be heading to 17600. A strong support lies at 16800 and every dip can now be utilized to accumulate long positions.

FMCG, Metal fall

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This newly listed specialty chemical stock gets over 37% upside target from Anand Rathi

Ami Organics is one of the major manufacturers of Pharma Intermediates for certain key APIs, including Dolutegravir, Trazodone, Entacapone, Nintedanib and Rivaroxaban which find application in certain high-growth therapeutic areas, commanding significant market share both in India and globally.

With the presence in high growing and niche markets, Ami Organics Limited is set to continue to post better growth in mid term, as per brokerage house Anand Rathi. It has initiated coverage on the specialty chemical stock with a Buy rating and a target price of ₹1,354 per share.

IndusInd Bank, Dr Reddy’s, Sun Pharma lead Sensex stocks

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Nifty above 17,200-mark at open

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Sensex at open

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Nifty in pre-open

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Markets in pre-open

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Day trading guide for Wednesday

3 stocks to buy or sell today — 29th December.

₹2.75 to ₹178.30: Multibagger penny stock turns ₹1 lakh to ₹65 lakh in one year

Despite the world reeling under the heat of the Covid-19 pandemic, Indian equity market climbed record high giving a good number of multibagger stocks in 2021. Interestingly, this rally in the stock market was participatory as the list of multibagger stocks in India includes some penny stocks too. Tata Teleservices share is one such multibagger penny stock that surged from ₹2.75 to ₹178.30 per share levels, appreciating to the tune of near 65 times in near one year time.

These 5 stocks are top picks for 2022, says analyst

We will enter New Year 2022 in just a couple of days. We always seem to make new lists – be it personal or financial. Stock markets analysts are scouring through the markets, finding the stocks they like, and putting together their lists of ‘Top Picks,’.

Top stocks recommendations for the upcoming year 2022 includes SBI, GAIL, HDFC Bank, TCS, among others.

Cryptocurrency prices today plunge. Bitcoin below $48,000, dogecoin, Shiba Inu fall over 5%

Bitcoin extended losses, deepening its December decline with the world’s most popular and largest cryptocurrency by market capitalization trading 5% lower to $47,912, after it slid below $50,000 mark on Tuesday. Bitcoin, famed for its volatility, has shed more than $21,000 since hitting a record in early November, and is up around 64% in 2021 (year-to-date or YTD). Check latest prices.

3 stocks are under NSE’s F&O ban list for today

RBL Bank, Vodafone Idea and Indiabulls Housing Finance are the three stocks that continue to be under the ban for trade on Wednesday, December 29, 2021 under the futures and options (F&O) segment by the National Stock Exchange (NSE). These securities have been put on ban under the F&O segment as they have crossed 95% of the market-wide position limit (MWPL), as per the NSE.

Market view: Sameet Chavan (Chief Analyst-Technical and Derivatives, Angel One Ltd)

Nifty enters the key zone, all eyes on financials now

Yesterday’s (Monday) spectacular recovery was followed by a decent bump at the opening today (Tuesday), citing to positive mood across the globe. The index extended its early lead a bit to surpass the 17200 mark and then slipped into a consolidation mode. All of a sudden at the stroke of the penultimate hour, market came off sharply on the back of some profit booking. Fortunately this tiny dip got bought into as Nifty went on to conclude the session around day’s high by reclaiming 17200.

Last week, around the same time, things were looking a bit dicey but in such a short span, we are back to the safe terrain comfortably above 17000. Now with recent price development, the base seems to have shifted higher towards 17000 – 16800 and till the time we do not slide below it, there is no reason to worry for. Before this, 17100 is to be considered as intraday support. On the flipside, the Nifty has now entered a key resistance zone of 17200 – 17300. With reference to recent commentary, if bulls have to regain their dominance, they need to conquer this sturdy wall with some authority. In order to achieve this, it needs a solid support from banking giants, because the initial lifting of the market was done predominantly by the IT counters and now it’s time for financial space to prove its significance. Let’s see how things pan out over the next couple of sessions as we are not only approaching the monthly expiry but also the calendar year end.

In our sense, if…