Stock Market HIGHLIGHTS: Sensex, Nifty, Bank Nifty give a befitting end to November series; hit their all time highs
Stock Market HIGHLIGHTS: Dream end of November series for domestic stock markets as S&P BSE Sensex and Bank Nifty ended at life time highs while NSE NIfty50 managing a lifetime high closing at 18,484.10, inches away from an all time high of 18,604 which this broader market index hit on 19 October 2021. Sensex closed at 62,272.68 gaining 762.10 points or 1.24 per cent after scaling 62,412.33 in the intraday trade. Banks & financial services and energy stocks did the trick for the benchmark indices.
Here are top highlights of the day:
1) In Nifty50, 44 stocks advanced, 5 declined while 1 remained unchanged. The top gainers were Apollo Hospitals, HDFC Life, BPCL, Infosys and Tata Consumers while the top losers were Cipla, Coal India, Bajaj Finserv, Kotak Bank, Bajaj Finance and Hero MotoCorp.
2) Bulls started strong riding on positive sentiments from major markets and only strengthened their grip on the street as the session progressed. The FOMC meeting minutes which suggeted that there was a consensus on reducing the extent of rate hikes in the US, acted as a trigger that the markets needed.
3) All but 1 Nifty sectoral indices ended the day in the green. Nifty Financial Services 25/50 was the top gainer and was up 1.30 per cent. Nifty Bank (+0.81 per cent) and Nifty Oil & Gas (+1.09 per cent) were other top performing sectoral benchmarks. Nifty Consumer Durables was lone loser with minor declines.
4) INDIA VIX, a measure of volatility in Nifty closed at 13.48, down 4.02 per cent.
5) There was stock specific action in broader markets as well, with Nifty Mid Cap 100 and Nifty Small Cap 100 settling at 31,289.25 (+0.44 per cent) and 9,740.65 respectively. Policy Bazaar, GSPL and PFC were the top gainers in among mid caps while Vodafone Idea, SunTV and prestige among top losers.
6) In the small cap segment Redington, MRPL and BCG gained the most while GNFC, NBCC and Deepak Fertilisers were top losers. In the 100-stock index 57 advanced, 42 declined while 1 stock remained unchanged.
7) On BSE, out of 3,635 stocks which traded today, advances were 1,935, declines were 1,570 while 150 stocks remained unchanged. 134 stocks hit their 52-week highs while 65, their 52 week lows.
8) Singapore-base SGX Nifty, an early indicator of movement in NIfty50 was trading at 18,668, up 184 or 1 per cent while Dow 30 Futures were trading at 34,276, up 81.90 points or 0.24 per cent.
9) Keystone Realtors stock which was listed today at a premium from the issue price of Rs 541 ended at Rs 556.80 on the NSE and was up by Rs 15.80 or 2.92 per cent from the issue price.
10) The rupee appreciated 30 paise to close at 81.63 (provisional) against the US dollar on Thursday as a weak greenback in the overseas market and a rally in domestic equities boosted investor sentiments.
Forex traders said the dollar fell in international trade post the weak US data and dovish Fed minutes. At the interbank foreign exchange market, the local unit opened at 81.72 and touched an intra-day high of 81.60 and a low of 81.77 against the greenback. The local unit finally settled at 81.63, registering a rise of 30 paise over its previous close. On Wednesday, the rupee depreciated 26 paise to close at 81.93 against the US currency. PTI
11) US markets will remain closed today on account of Thanksgiving while there will a truncated session tomorrow on account of Black Friday sales.
All this and much more - catch all the UPDATES here!
Stock Market HIGHLIGHTS: Dream end of November series for domestic stock markets as S&P BSE Sensex and Bank Nifty ended at life time highs while NSE NIfty50 managing a lifetime high closing at 18,484.10, inches away from an all time high of 18,604 which this broader market index hit on 19 October 2021. Sensex closed at 62,272.68 gaining 762.10 points or 1.24 per cent after scaling 62,412.33 in the intraday trade. Banks & financial services and energy stocks did the trick for the benchmark indices.
Here are top highlights of the day:
1) In Nifty50, 44 stocks advanced, 5 declined while 1 remained unchanged. The top gainers were Apollo Hospitals, HDFC Life, BPCL, Infosys and Tata Consumers while the top losers were Cipla, Coal India, Bajaj Finserv, Kotak Bank, Bajaj Finance and Hero MotoCorp.
2) Bulls started strong riding on positive sentiments from major markets and only strengthened their grip on the street as the session progressed. The FOMC meeting minutes which suggeted that there was a consensus on reducing the extent of rate hikes in the US, acted as a trigger that the markets needed.
3) All but 1 Nifty sectoral indices ended the day in the green. Nifty Financial Services 25/50 was the top gainer and was up 1.30 per cent. Nifty Bank (+0.81 per cent) and Nifty Oil & Gas (+1.09 per cent) were other top performing sectoral benchmarks. Nifty Consumer Durables was lone loser with minor declines.
4) INDIA VIX, a measure of volatility in Nifty closed at 13.48, down 4.02 per cent.
5) There was stock specific action in broader markets as well, with Nifty Mid Cap 100 and Nifty Small Cap 100 settling at 31,289.25 (+0.44 per cent) and 9,740.65 respectively. Policy Bazaar, GSPL and PFC were the top gainers in among mid caps while Vodafone Idea, SunTV and prestige among top losers.
6) In the small cap segment Redington, MRPL and BCG gained the most while GNFC, NBCC and Deepak Fertilisers were top losers. In the 100-stock index 57 advanced, 42 declined while 1 stock remained unchanged.
7) On BSE, out of 3,635 stocks which traded today, advances were 1,935, declines were 1,570 while 150 stocks remained unchanged. 134 stocks hit their 52-week highs while 65, their 52 week lows.
8) Singapore-base SGX Nifty, an early indicator of movement in NIfty50 was trading at 18,668, up 184 or 1 per cent while Dow 30 Futures were trading at 34,276, up 81.90 points or 0.24 per cent.
9) Keystone Realtors stock which was listed today at a premium from the issue price of Rs 541 ended at Rs 556.80 on the NSE and was up by Rs 15.80 or 2.92 per cent from the issue price.
10) The rupee appreciated 30 paise to close at 81.63 (provisional) against the US dollar on Thursday as a weak greenback in the overseas market and a rally in domestic equities boosted investor sentiments.
Forex traders said the dollar fell in international trade post the weak US data and dovish Fed minutes. At the interbank foreign exchange market, the local unit opened at 81.72 and touched an intra-day high of 81.60 and a low of 81.77 against the greenback. The local unit finally settled at 81.63, registering a rise of 30 paise over its previous close. On Wednesday, the rupee depreciated 26 paise to close at 81.93 against the US currency. PTI
11) US markets will remain closed today on account of Thanksgiving while there will a truncated session tomorrow on account of Black Friday sales.
All this and much more - catch all the UPDATES here!
Latest Updates
This is all that we have from the stock markets today. I will be back with all the action on Friday which marks the beginning of December series. Till then, be safe and have a great day today!
Stock Market LIVE - Banks in focus today
Stock to Buy - Which private bank stock can offer more value for your buck?
Which stock out of the top private lenders — HDFC Bank, ICICI Bank, Axis Bank and Indusind Bank — is giving you more value for the buck you are spending? One way to look at it is Price-to-Earnings (PE) ratio. In a layman’s terms, a PE ratio determines the amount of money an investor is willing to pay for each rupee of profit that a company makes.
The P/E ratio is indicative of whether the stock of a company is overvalued or undervalued compared to its earnings. This metric also suggests what people feel about the growth potential of the stock. A high PE ratio means that the market is willing to pay a high price for the stock.
Delhivery share: Notwithstanding the current drag in the overall revenue figures of Delhivery in FY23, brokerages like ICICI Bank, Jefferies and HSBC maintain a buy rating on this stock. Breaking from its losing streak over the past seven trading sessions, the stock was trading with gains of 1.15 per cent on the NSE at Rs 329.
Jefferies puts a price target of Rs 700 estimating a 114 per cent upside in this stock. The stock was recommended at a price of Rs 326.
Stock Market Today - How Sectoral Indices were trading
Sensex Top Gainers and Losers
Stock Market Today - What Brokerages Recommend?
- CS on Interglobe Aviation (CMP: 1893)
Maintain Outperform, Target 2350
Very strong yield on strong demand & ltd capacity with lower costs can drive profitability surprise
Competition remain s weak
Stay O-P on strongest positioning in a sector, with large opportunity (15% CAGR in FY21-30E)
- HSBC on Jubilant Foodworks (CMP: 541)
Maintain Buy, Target cut to 750 from 850
Scenarios in the quest for favourable risk reward
Jubilant is aggressively scaling its up Dominos network
Market fears margins may slip
Jubilant long term investment case is quite appealing
- Goldman Sachs on Nykaa (CMP: 172)
Maintain Neutral, Target 233
- Macquarie on Reliance (CMP: 2557)
Maintain Underperform, Target 2000
- Goldman Sachs on Asian Paints (CMP: 3101)
Maintain Neutral, Target cut to 3200 from 3450
(Disclaimer: The views/suggestions/advises expressed here in this article is solely by investment experts. Zee Business suggests its readers to consult with their investment advisers before making any financial decision.)
Gold Price Strategy by Deveya Gaglani, Research Analyst, Axis Securities
Gold prices closed in the green in the last trading session as the Dollar Index corrected after the Fed minutes, as members supported a slower pace of interest rate hikes. Markets are now pricing a nearly 80 percent chance that the bank will raise the rate by 50 bps in December. Also, the US private sector saw a solid contraction in business activity in November which added downward pressure to the dollar. On the technical front, the Immediate resistance zone is seen around the 52500 level. Breakout and sustained buying above the mentioned level may push prices higher toward the 53000 level. On the other hand, breakdown below 52300 may drag prices lower toward the 52000 level by this week.
(Disclaimer: The views/suggestions/advises expressed here in this article is solely by investment experts. Zee Business suggests its readers to consult with their investment advisers before making any financial decision.)
Stock Market LIVE TODAY: Trading Calls by Anuj Gupta of IIFL Securities
Anuj Gupta: BUY MCX GOLD December AT 52000 STOP LOSS 51750 TARGET 52500
BUY MCX SILVER December AT 61000 STOP LOSS 60300 TARGET 62300
Sell MCX CRUDEOIL December AT 6550 STOP LOSS 6750 TARGET 6200
Buy MCX COPPER AT 665 STOP LOSS 659 TARGET 678
Buy Usdinr at 81.70 Stop Loss 81.50 target 82.20
Buy Nse Nifty at 18250 STOP LOSS 18100 TARGET 18500
BUY BANK NIFTY AT 42450 STOP LOSS 42200 TARGET 42900
BUY NCDEX COCUDAKL DECEMBER 2740 STOP LOSS 2680 TARGET 2900
Gold and Silver on Weekly high level, Gupta said
(Disclaimer: The views/suggestions/advises expressed here in this article is solely by investment experts. Zee Business suggests its readers to consult with their investment advisers before making any financial decision.)
IPO UPDATE LIVE: Keystone Realtors IPO Listing Date, Time, Keystone Realtors IPO Listing Price NSE, BSE
Keystone Realtors, known for building premium residences under the brand 'Rustomjee', will make its market debut today i.e. November 24. The company's initial public offering (IPO) got bids for 1,73,72,367 shares against 86,47,858 shares on offer. The IPO had a fresh issue of up to Rs 560 crore and an offer for sale of up to Rs 75 crore. According to Zee Business Managing Editor Anil Singhvi, the shares of Keystone Realtors can list at a premium of Rs 10-15.
Stock Market Today - Bank Nifty Hits New Life High
Sensex and Nifty widened their gains as the former was trading was trading with gains of 270 points at 61,781.27, higher 0.44 per cent while Nifty50 was trading at 18,347.65, up 80.40 points or 0.44 per cent. Bank Nifty continued its resurgence as the 12-stock index hit yet another lifetime high of 42,963.15.
The top gainers on Nifty Bank were AU Small Finance, Bank of Baroda, HDFC Bank, PNB Bank and Indusind Bank.
In the 50-share Nifty50, 42 stocks advanced, 7 declined while 1 remained unchanged.
Source NSE
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Stock Markets LIVE: Nifty in Chart - Intraday Movement
Source: NSE
Global Markets at a Glance
Federal Reserves minutes of the FOMC meeting have been released and the outcome infused fresh life to the US markets on Wednesday. There is a consensus now on reducing the extent of rate hikes, though the pivot is still some distance away. There is also an acknowledgement among many Fed memebers that the policy rate hikes have not given the desires results and as a consequnce of which, economy has taken a hit.
US markets ended in the green on for the second straight session with Dow 30 closing at 34,194.10, up 95.96 points or 0.28 per cent while S&P 500 settled at 4,027.26, down 23.68 points or 0.59 per cent. Nasdaq Composite finished at 11,285.30, up 110.91 points or 1 per cent. Nasdaq remains an outlier on Wall Street as technology stock gained led by Tesla which closed with 8 per cent upside.
Equity markets in US will remain closed on Thursday on account of Thanksgiving followed by truncated session next day on account of Black Friday sales.
Source: COmex
The impact rubbed on to the Asian Markets as well with many frontline indices trading in the green hours before the opening of Indian markets. Japanese Nikkei 225 was trading at 28,485.30, up 369.57 points or 1.31 per cent, Shanghai Composite was trading at 3,109.09, higher by 12.18 points or 0.39 per cent. Hang Seng was up 17,638.03, up 114.22 points or 0.65 per cent.
US Dollar Index sees significant correction and has come down to level below 106 against the basket of six major cirrencies. Crude Oil has has slipped two a two-month low on news of capping Russian oil price between USD 65-70.
Stock Market LIVE: Anil Singhvi Strategy on Nifty and Bank Nifty - Key support and resistance levels
Stock Market Today: Anil Singhvi Strategy of Nifty, Bank Nifty - Key Support and Resistance Level
