Share Market HIGHLIGHTS | Sensex soars 742 pts, Nifty climbs to 19,675 on global boost; Eicher zooms 5%
Share Market HIGHLIGHTS: Domestic equity benchmarks Nifty and Sensex registered sharp gains on Wednesday amid a broad-based rally, tracking strong moves across global equities after a softer-than-expected inflation reading from the world's largest economy eased concerns about higher-for-longer benchmark interest rates among investors globally.
Financial and IT stocks led the rally on Dalal Street, where all sectoral gauges staged handsome moves.
Catch all the highlights of the November 15 session on Dalal Street, along with the views of Zee Business Managing Editor Anil Singhvi and other market experts, and much more, on Zeebiz.com's blog:
Share Market HIGHLIGHTS: Domestic equity benchmarks Nifty and Sensex registered sharp gains on Wednesday amid a broad-based rally, tracking strong moves across global equities after a softer-than-expected inflation reading from the world's largest economy eased concerns about higher-for-longer benchmark interest rates among investors globally.
Financial and IT stocks led the rally on Dalal Street, where all sectoral gauges staged handsome moves.
Catch all the highlights of the November 15 session on Dalal Street, along with the views of Zee Business Managing Editor Anil Singhvi and other market experts, and much more, on Zeebiz.com's blog:
Latest Updates
Thank you! That's all today on Zeebiz.com's blog on the November 15 session on Dalal Street
Closing Bell | Sensex soars 742 pts, Nifty settles at 19,675; Eicher Motors zooms 5%, Tech Mahindra jumps 4%
Share Market Today LIVE | Sumeet Bagadia recommends Tata Consumer Products as momentum pick
Sumeet Bagadia of Choice Broking believes Tata Consumer Products shares can stage a decent upmove in the coming days. He recommends fresh buying in the Tata group scrip and suggests existing investors hold their positions.
He has given short-term momentum targets of Rs 945 and Rs 950 with a stop loss at Rs 915, and is of the view that positional targets can be even higher.
Share Market Today LIVE | Dow Jones, S&P 500 futures, Nasdaq Composite futures suggest another day of gains on Wall Street ahead
The futures contracts of the three main US stock market benchmarks, the Dow Jones Industrial Average, the S&P 500 and the Nasdaq Composite, are trading 0.2-0.4 per cent higher at this hour, suggesting yet another day of gains on Wall Street.
- Dow Jones futures: up 72 pts at 34,959
- S&P 500 futures: up 12.3 pts at 4,523.3
- Nasdaq Composite: up 62 pts at 15,941.8
On Tuesday, blue-chip index S&P 500 and the tech stocks-heavy Nasdaq Composite posted their biggest daily percentage gains since April 27 as softer-than-expected inflation data supported the view that the Fed may be done raising benchmark interest rates. Small-cap 2000 index Russell jumped 5.4 per cent.
Data showed US consumer prices were unchanged in October as Americans paid less for gasoline, and the annual rise in underlying inflation was the smallest in two years. In the 12 months through October, the CPI climbed 3.2% - below economists' estimates—after rising 3.7 per cent in September.
Share Market Today LIVE | Recent correction may have prepared three PSU bank stocks for a rebound
PSU banking stocks have undergone significant corrections over the past few weeks, and many analysts believe that a recent spike in select names from the space may be an early sign of a stronger move up ahead.
"Q2 has been a mixed bag for PSU banks as credit growth for most banks was reasonably strong. The quarter saw healthy recoveries which led to improvement in Asset quality with GNPA/NNPA ratios improving towards decadal low levels. Lower provisions were also seen aiding the earnings growth. However, the NIMs came under pressure owing to the rising cost of funds, and the same is expected to continue," says Jyoti Roy, Head of Equity Research at Sanctum Wealth.
"This was the key negative in the Q2 results for the PSU banks," Roy adds.
Share Market Today LIVE | Bandhan Bank (BANDHANBNK) shares may be preparing for a short-term rally
Sumeet Bagadia of Choice Broking points out that a stock yet to perform in the momentum building up in the banking space is Bandhan Bank. BANDHANBNK shares have consolidated at lower levels in two weeks and look ready for a firm move over the next few days, he says.
He suggests buying Bandhan Bank shares for targets of Rs 228 and Rs 232 for the coming week with a stop loss at Rs 216.
Share Market Today LIVE | Sumeet Bagadia expects a strong move in Indian Oil shares
Sumeet Bagadia of Choice Broking believes IOC shares offer a favourable risk-reward ratio at the current juncture. He recommends buying the state-run OMC stock for short-term targets of Rs 104 and Rs 106, and even higher positionaltargets, with a stop loss at Rs 99.
Share Market Today LIVE | Nifty Metal takes four-day gains to almost 4% led by Hindalco stock
The Nifty Metal index is holding on to much of its intraday gains of 137.4 pts, or 2.0 per cent, to 6,851.5 led by strong buying interest in Hindalco and Tata Steel.
At the day's high, the metal gauge has taken its gains to 251.8 pts, or 3.8 per cent, in four back-to-back sessions. Take a look at the top movers and shakers in the 15-scrip metal pack:
Image: Niftyindices.com
Share Market Today LIVE | Market breadth favours the bulls
Overall market breadth remains positive, with the advance-decline ratio at 8:5 as 2,283 stocks rise against the 1,403 laggards on BSE.
Share Market Today LIVE | Buy Tech Mahindra, Birlasoft shares, says Bhavin Shah
Market expert Bhavin Shah shares two calls from the IT space:
- Buy Tech Mahindra shares for a short-term target of Rs 1,200 with a stop loss at Rs 1,155
- Buy Birlasoft shares for a target of Rs 620
He expects momentum in Birlasoft shares to continue with strong support at Rs 590 following consolidation of 5-6 trading sessions with solid volumes.
Share Market Today LIVE | Buy Bikaji Foods shares, says Bhavin Shah
Market expert Bhavin Shah expects a strong upside in Bikaji Foods shares. He suggests buying the snack maker's stock for a price target of Rs 580 with a stop loss at Rs 520.
Share Market Today LIVE | Buy Eicher Motors, says Bhavin Shah
Market expert Bhavin Shah suggests existing investors to hold on to their positions in Eicher Motors, and recommends fresh positions at Rs 780 and even at current levels.
He believes the stock is up for a strong upmove for a long-term target of Rs 4,000 and and immediate target of Rs 3,950.
Share Market Today LIVE | Buy Chennai Petroleum, JSW Energy shares, says Shivangi Sarda
Motilal Oswal Financial Services' Shivangi Sarda shares two trading calls with Zee Business viewers:
- Buy Chennai Petrol shares for a target of Rs 645 with a stop loss at Rs 598
- Buy JSW Energy shares for a target of Rs 425 with a stop loss at Rs 395
Image: Reuters
Share Market Today LIVE | Buy HDFC Life Insurance Company (HDFCLIFE) futures, says Sacchitanand Uttekar
Sacchitanand Uttekar of Tradebulls Securities has a 'buy' call on HDFC Life Insurance futures.
He has placed his targets for the life insurer's stock at Rs 660 and Rs 700 and suggests placing a stop loss at Rs 632.
Here's how the stock has moved in five days:
Image: BSEIndia.com
Share Market Today LIVE | Sensex, Nifty at day's highs; all of NSE's sectoral indices enjoy gains
Both headline indices are up one per cent. The Sensex gains as much as 673.8 pts to touch 65,607.6 on the upside and the Nifty50 climbs to as high as 19,657.5, up 214 pts from its previous close.
Here's where the sectoral gauges stand at this hour:
| Index | Change (%) |
| NIFTY REALTY | 2.34 |
| NIFTY IT | 2.21 |
| NIFTY OIL & GAS | 1.42 |
| NIFTY AUTO | 1.19 |
| NIFTY MEDIA | 1.19 |
| NIFTY METAL | 1.17 |
| NIFTY FINANCIAL SERVICES | 1.11 |
| NIFTY PSU BANK | 0.81 |
| NIFTY BANK | 0.77 |
| NIFTY PRIVATE BANK | 0.71 |
| NIFTY CONSUMER DURABLES | 0.61 |
| NIFTY FMCG | 0.4 |
| NIFTY HEALTHCARE INDEX | 0.19 |
| NIFTY PHARMA | 0.07 |