Fag-end buying lifts Sensex 204 pts, Nifty near 19,900; Adani stocks zoom

Closing Bell on November 28, 2023: Adani Enterprises (up 9 per cent), Adani Ports (5.5 per cent), BPCL, Tata Motors, Coal India, ONGC, Bajaj twins were the top gainers

3:58 PM

Comment :: 'Buy relatively strong stocks on dips'

Nifty has finally surpassed the hurdle at 19,850 and now we expect the index to inch toward a new high.

Needless to say, the quantum of rise would depend upon the performance of the banking, which has also reached closer to its immediate hurdle.

We reiterate our view to continue with the “buy on dips” approach and prefer stocks with relatively higher strength for fresh buying.

Views by: Ajit Mishra, SVP - Technical Research, Religare Broking

3:56 PM

Tech View :: 'Nifty shouldn't breach 19,750 for bullish bias to continue'

Nifty50

The broad range of 19,650 – 19,850 has been decisively broken on the upside which puts the bulls in a position of strength.

We expect the positive momentum to continue over the next few trading sessions, and the next psychological level stands at 20,000 with a potential to stretch higher till 20,200.

On the downside, 19,770 – 19,750 shall act as crucial support and should not be breached on the downside for the positive momentum to continue.

 

Bank Nifty

Bank Nifty witnessed a continuation of the positive momentum from the previous week. it continued to inch higher and has closed above the 40-day moving average (43,834) which is a sign of strength. On the upside, we expect the Bank Nifty to target levels of 44,500 from a short-term perspective.

Views by: Jatin Gedia – Technical Research Analyst at Sharekhan by BNP Paribas

3:43 PM

SmallCap Heatmap :: Index gives up gains, ends flat with positive bias

3:41 PM

MidCap Heatmap :: Index gains 0.3%; check top gainers and loser of the day

3:40 PM

Sectoral trends :: Metals, PSBs lead market rally on Tuesday

3:37 PM

Nifty Heatmap :: Top large-cap gainers and losers of the day

3:36 PM

CLOSING BELL :: Nifty ends near 19,900

3:35 PM

CLOSING BELL :: Sensex advances 200 pts in late deals

3:28 PM

Proxy advisory firm urges Raymond's directors to probe assault allegations

Raymond's shares fell on Tuesday for a tenth straight session and have lost over 16% during the period. The share slump started on Nov. 13, when Singhania announced separation from his wife on social media platform X, formerly known as Twitter. READ MORE

3:17 PM

OMCs extend post earnings rally; HPCL, BPCL, IOCL soar up to 39% in 1-mnth

Regardless of the prevailing uncertainty on refining and marketing margins, our analysis suggests that even in current scenario, margin mix broadly remains on a strongly upward trajectory for HPCL, analysts at ICICI Securities said in result update. READ MORE

3:04 PM

ALERT:: Adani Total Gas launches Green Hydrogen project at Ahmedabad; stock locked at upper limit

Adani Total Gas, co-promoted by Adani Group and TotalEnergies, announced the initiation of a pioneering 'Green Hydrogen Production and Blending Pilot Project' at Ahmedabad in an exchange filing today.

2:52 PM

Arbitrage vs liquid funds: Why the former has become an investor darling

India's mutual fund industry  saw major net inflows in Arbitrage and broad-based equity funds in the second quarter of fiscal year 2024, revealed a study by  Motilal Oswal AMC recently. READ MORE

2:39 PM

Market check:: Sensex at day's high, up 150 points

2:29 PM

ALERT:: Innovators Facade wins Rs 36 cr order; stock hits 10% upper limit

Innovators Facade Systems in an exchange filing said the company has received work order for design, develop, supply, fabrication and installation of facade work of MTB 06, Bengaluru for Rs 36.53 crore excluding taxes.

 

The stock traded in the SME segment.

2:17 PM

DB Realty promoters sell nearly 3% for Rs 301 cr; reinfuse capital

The promoter group has infused back a substantial portion of the proceeds (net of tax) into the company as repayment of related party transactions and unsecured interest free loan, it added. READ MORE

2:05 PM

Sebi plans to ease capital and disclosure rules for passive funds: Reports

Proposed new rules would also allow existing fund houses to hive off their passive investment schemes into separate entities to take advantage of the looser regulation, sources said. READ MORE

1:52 PM

Sector ALERT:: BSE Power index soars over 3%; Adani Group, Tata Power lead

1:40 PM

Sector ALERT:: BSE Oil & Gas index up 2.5%; OMCs rally up to 6%

1:27 PM

Asian Market Update:: Major indices display mixed trend

Source: Yahoo Finance

1:15 PM

ALERT: LIC to launch new plan on Nov 29, reports CNBC-TV18

LIC to launch new insurance plan ‘Jeevan Utsav’ on November 29. The new insurance plan will give compulsory survival benefit of 10%. 

1:04 PM

Stock of this Adani group has zoomed over 200% in 10 months; hits new high

Shares of Adani Power (APL) hit a new high at Rs 464.30, as they surged 17 per cent on the BSE in Tuesday’s intra-day trade on the back of heavy volumes.

The average trading volumes at the counter jumped over six-fold with a combined 52.71 million equity shares or 1.4 per cent of total equity of integrated power utilities company changed hands on the NSE and BSE till 12:29 PM. In comparison, the S&P BSE Sensex was flat at 65,967. Read

12:46 PM

Fast-fashion retail giant Shein may go public with US IPO filing

China-based fashion giant Shein may have confidentially filed for an initial public offering (IPO) in the United States, according to a report by Reuters. The news was first reported by the Wall Street Journal and both publications have cited anonymous sources backing the claim. As per the reports, Goldman Sachs, JPMorgan Chase, and Morgan Stanley have been enlisted as lead underwriters for the offering, with a potential IPO date in 2024. Read

12:33 PM

India's subsidies may cost the govt Rs 50,000 cr more than its FY24 Budget

India's overall subsidy bill may surge by Rs 50,000 crore this fiscal year because of increased expenditure on fertiliser, cooking gas and food security, a report by the Economic Times (ET) said. The government aims to cover this higher spending from savings under other heads in its Rs 45 trillion FY24 budget, it said. Read

12:15 PM

Healthy outlook, upcoming Tata Tech listing lifts Tata Motors to new high

Shares of Tata Motors and Tata Motors (Differential Voting Rights) gained 3 per cent to hit their respective record highs on the BSE in Tuesday’s intra-day trade ahead of listing of its subsidiary Tata Technologies (Tata Tech). Read

12:00 PM

RBI in discussions with US, Hong Kong, Swift on digital bank payments

The Reserve Bank of India is in discussion with its counterparts in the United States and Hong Kong, along with the Society for Worldwide Interbank Financial Telecommunications (SWIFT), on cross-border digital bank payments or central bank digital currencies (CBDC), according to a report by The Economic Times (ET). Read

11:45 AM

Vodafone Idea likely to miss December deadline to raise funds: Report

As it fails to finalise a deal with investors, Vodafone Idea (Vi) is likely to miss the December deadline to raise fresh funds, The Economic Times (ET) reported. However, it is in talks with the Export-Import Bank (Exim) of the US to raise capital for procuring equipment for its 5G network. Read

11:31 AM

Festive season auto sales scale record high in 2023, up 19%, says FADA

Automobile retail sales during the festive season saw the highest-ever numbers in 2023 scaling 3.793 million units, up 19 per cent compared to 3.195 million units during the same period in the last fiscal.  The 42-day festive period started on the first day of Navratri and ended 15 days after Dhanteras. Read

11:15 AM

Sony-Zee merger risks collapse ahead of its deadline over CEO drama

The fate of the planned merger between Sony Group Corp.’s India unit and Zee Entertainment Enterprises Ltd. may be known as early as next week, according to people familiar with the matter, as the companies face a looming deadline to resolve their standoff or scuttle a long-awaited deal to create a $10 billion media giant. Read

11:01 AM

This stock has delivered over 20% returns in each of the last five months

Shares of the BSE hit a new high at Rs 2,280, as they surged 5 per cent on the National Stock Exchange (NSE), extending its rally on expectation of strong earnings after the exchange’s success in the derivatives segment. Read

10:44 AM

HSBC hires UBS's Gautam Anand for role serving India's rich diaspora

HSBC Holdings Plc hired a senior private banking executive from UBS Group AG where he ran a team serving wealthy Indians who live overseas. Read