After opening the day on a strong note, the Indian share markets continued their record run for the seventh straight trading session and the markets ended firmly in the green.Equity benchmark indices hit new highs boosted by moderating crude oil prices and a rally in Adani Group and PSU banks.At the closing bell, the BSE Sensex stood higher by 358 points (up 0.5%).Meanwhile, the NSE Nifty closed higher by 83 points (up 0.4%).Wipro, ITC, and L&T were among the top gainers today.Eicher Motors, NTPC, and Cipla, on the other hand, were among the top losers today.The GIFT Nifty was trading at 21,067, up by 63 points, at the time of writing.Broader markets ended on a positive note with the BSE MidCap index and the BSE SmallCap index, both, up by 0.2%.Sectoral indices ended mixed today, with stocks in the power sector, oil & gas sector, and IT sector witnessing the most buying. Meanwhile stocks in the healthcare sector and realty sector witness selling pressure.Shares of TVS Holdings and Angel One hit their respective 52-week highs today.Asian share markets ended on a mixed note. The Shanghai Composite ended marginally 0.1% in red while the Nikkei ended 2% higher.The rupee is trading at 83.33 against the US$.Gold prices for the latest contract on MCX are trading flat at Rs 62,218 per 10 grams.Meanwhile, silver prices were trading 0.1% lower at Rs 75,205 per 1 kg.
Why Angel One Share Price is RisingIn news from the finance space, Angel One was in focus today.On 6 December 2023, Angel One, the big name in the broking segment rose over 7% to hit its new 52-week high.The rally came after the stockbroker reported a 51.3% year-on-year (YoY) increase to 18.5 million (mn) in November 2023, indicating nearly a 4% rise compared to the previous month.The number of orders also increased by 51.4% YoY to Rs 107 mn in November. Compared to the previous month, the number of orders grew by 1.2%.The average daily turnover surged 165% YoY and 9% month-on-month to Rs 34.4 trillion in November.In the Futures and Options (F&O) segment, the average daily turnover grew by 9.2% month-on-month and a little over 169% year-on-year at Rs 34 trillion.In the cash segment, the average daily turnover stood at Rs 50 bn, up 12.3% month-on-month and over 33% YoY.The average client funding book was at Rs 18.5 bn, up 43.5% year-on-year.The share price of Angel One has rallied over 138% in 2023 so far.
Oberoi Realty Hits New 52-Week High. Here’s Why…Moving on with the news from the realty space, shares of Oberoi Realty hit 52 weeks high.This rally can be attributed to the company’s acquisition of a 6.4-acre land parcel near Mumbai from NRB Bearings for Rs 2 bn. This acquisition is part of Oberoi Realty’s consolidation of contiguous lands, totaling 75 acres at Pokhran Road 2 in Thane.If we take a closer look at the deal, after meeting the terms and conditions of the deal with NRB Bearings, Oberoi Realty completed the conveyance deed for the land parcel, which measures approximately 25,700 square meters (about 6.4 acres). This deal is very similar to Raymond Group’s 100-acre land deal where construction projects have been underway since 2019.The shares of Oberoi Realty have been on an upward trajectory. In 2023 so far, the company has offered over 67% returns to its investors.
Hero MotoCorp and Ather Industries Announces a New PartnershipMoving on to news from the auto sector, on 6 December 2023, Hero MotoCorp and Ather Energy announced a partnership to establish a fast-charging network for electric vehicles (EVs) to accelerate EV charging ecosystem in India.This collaboration will enable users to seamlessly utilize both VIDA and Ather Grids across the country. The combined network is set to cover 100 cities with over 1900 fast-charging points.Following this announcement, shares of Aether Industries rose over 1%, while Hero MotoCorp’s shares traded nearly 2% lower.In November, the domestic two-wheeler segment experienced robust demand during the festival season, leading to approximately 20-21% YoY growth.Hero MotoCorp’s volumes surged by 26% YoY in November, and the company gained market share due to supply-chain issues faced by Honda, resulting in key models being out of stock during the festival season.Moreover, the company also mentioned that they are planning to open three premium stores and have set a target to open 100 such outlets by June 2024.In 2023 so far, the share of Hero MotoCorp has offered 39% returns to its investors, while Ather Industries has eroded 6% of investors’ wealth.
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