Markets snap 2-day losing run; Sensex rises 276 pts, Nifty nears 19,800

Closing Bell on Tuesday, November 21: Among sectors, the Nifty Metal index rallied 1.22 per cent, followed by the Nifty Realty (1.13 per cent), and the Nifty Media (1.12 per cent)

4:09 PM

Tech View :: 'Nifty Bank's structure to become weak below 43,400'

Nifty50
On the daily charts, we can observe that since last four trading sessions, the Nifty is trading within the range 19,875 – 19,627. On the downside, the Nifty is trading above the zone of 19,650 – 19,600 where multiple support parameters in the form of the 40-hour moving average and the lower end of the rising channel is placed.

Thus, in case of a dip, this zone should act as a support, and we expect the Nifty to hold on to this zone and head higher over the next few trading sessions.

The hourly momentum indicator has a positive crossover. However, the Nifty is not breaching the range and once it does that, we can expect it to gain momentum.

Until then, the range bound price action is likely to continue. In terms of levels, 19,610 – 19,650 is the crucial support zone while 19,900 – 19,930 is the immediate resistance zone.

 

Bank Nifty

Bank Nifty also consolidated and closed with a gain of 110 points. Intraday witnessed a dip however, it was bought indicating buying interest at lower levels. We expect the pullback to continue till 44,000 – 44,050 from short term perspective. Structure becomes weak below 43,400.

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

3:50 PM

Comment :: Here's why foreign flows might soon return to India

Today, the market exhibited positive momentum, with attention centred on the minutes of the latest Fed meeting.

The declining inflation and the recent cooling job data in the US provides foundation for a dovish comment from the Fed.

The drop in bond yields and the dollar index suggests mounting speculation regarding the potential peak in the interest rate cycle. This will attract funds to emerging markets.

The gain in the broad market was led by consumer durables and realty, thanks to a strong rebound in festive demand.

Views by:  Vinod Nair, Head of Research at Geojit Financial Services

3:47 PM

Currency check :: Rupee ends 1 paise weak

3:47 PM

SmallCap Heatmap :: Index ends 0.20% up; check top gainers and losers

3:45 PM

MidCap Heatmap :: Index ends 0.14% higher; check top gainers & losers of the day

3:44 PM

Sectoral trends :: Metal, Realty indices eke out most gains; PSBs weigh

3:43 PM

Sensex Heatmap :: Steel stocks, Titan, RIL lift index

3:42 PM

CLOSING BELL :: Nifty ends atop 19,750

3:39 PM

CLOSING BELL :: Sensex snaps 2-day losing run, gains over 250 pts

3:27 PM

ALERT :: Lupin receives tentative approval from USFDA for Dapagliflozin tablets

>> Lupin has received tentative approval from the United States Food and Drug Administration (USFDA) for its Abbreviated New Drug Application for Dapagliflozin Tablets, 5 mg, and 10 mg

>> It is a generic equivalent of Farxiga Tablets, 5 mg, and 10 mg of AstraZeneca AB.

>> This product will be manufactured at Lupin’s Pithampur facility in India.

>> Dapagliflozin Tablets (RLD Farxiga) had estimated annual sales of $7,282 million in the US (IQVIA MAT September 2023). 

 

3:11 PM

DCX Systems hits new high; stock zooms 27% in 1 week on fund raising plan

Shares of DCX Systems surged 14 per cent to a new high of Rs 364.40 on the BSE in Tuesday’s intra-day trade on heavy volumes. READ MORE

3:03 PM

Global Check:: US stock futures exhibit lacklustre trend

Source: Investing.com

2:52 PM

ALERT:: TVS Motor launches TVS NEO AMI 125 in Africa; stock up 0.4%

TVS Motor Company today announced the launch of TVS NEO AMI 125 in Africa. Designed for evolving commuting needs, this innovative Bebek is set to delight customers with 72 exciting, new features, the company said in an exchange filing.

2:41 PM

ED issues notice to Byju's for violation of forex rules, firm denies

The agency has alleged violations by the company worth Rs 9,000 crore ($1.1 billion) under the Foreign Exchange Management Act (FEMA), the television channel reported. READ MORE

2:32 PM

ALERT:: ICICI Bank Rs 5,500 cr infra bonds get 'CRISIL AAA/Stable' rating; stock up 0.4%

CRISIL Ratings has assigned its 'CRISIL AAA/Stable' ratings to Rs 5,500 crore infrastructure bonds of ICICI Bank and reaffirmed its ‘CRISIL AAA/CRISIL AA+*/Stable’ rating on the existing reaffirmed debt instruments of the bank; the bank informed in an exchange filing.

2:21 PM

Govt bonds may see $25 bn in inflows if included in Bloomberg indices: DBS

The India 10-year bond yield could move lower by about 7 bps in case of any news of inclusion in the Bloomberg Index, with inflows of around $25 billion, said Sameer Karyatt, executive director - treasury and markets at DBS Bank India.  READ MORE

2:09 PM

ALERT:: Infosys to offer new digital solutions to Proximus; stock marginally up

Infosys in an exchange filing today announced yet another successful collaboration with Proximus, Belgium's leading digital services and communications solutions provider, to deliver an IT modernization and consolidation project. 

 

The project will see Infosys consolidating key components of the IT stack of a Proximus affiliate into the main IT stack, enabling them among others to offer fiber and new digital services to more of its customers.

1:59 PM

Godrej Properties to meet Rs 14,000 cr sales bookings target: Pirojsha

Realty firm Godrej Properties will meet its target to sell properties worth Rs 14,000 crore this fiscal year as it expects strong demand for ongoing and upcoming housing projects, its Executive Chairperson Pirojsha Godrej said. READ MORE

1:49 PM

SAT expects rigorous probe, very difficult to catch finfluencers: Sebi WTM

Bhatia said the capital markets regulator has done one case of a financial influencer since coming out with the guidelines earlier this year and termed it as a "very, very big achievement". READ MORE

1:37 PM

Investment via participatory notes slip to Rs 1.26 trillion in Oct

Before registering a decline in October, investments through P-notes have been increasing continuously since March, following the stable Indian economy against an uncertain global macro backdrop. READ MORE

 

1:26 PM

ALERT:: Sterlite Tech hires new industry leaders; stock down 2%

Sterlite Technologies today in an exchange filing said the company was well poised to cater to the demand for Optical Connectivity products and has appointed industry leaders to drive its growth ambition.

1:15 PM

Now, senior citizens can enjoy high and guaranteed returns for long term

The government has made a few changes to the Senior Citizen’s Savings Scheme (SCSS), 2019, through the Senior Citizen’s Savings (Fourth Amendment) Scheme, 2023. Says Gaurav Aggarwal, chief product officer (credit products), Paisabazaar: “The objective of these amendments is to make the scheme more beneficial for retired employees and their spouses.” READ MORE

1:04 PM

Titan hits new all-time high; enters Rs 3 trillion market club

Titan Company today became the second Tata group firm to join Rs 3 trillion market capitalisation (market cap) club after its shares hit a new high of Rs 3,400, up nearly 2 per cent on the BSE in Tuesday's intra-day trade. Read

12:52 PM

NFO alert: DSP Mutual Fund launches DSP Banking & Financial Services Fund

DSP Mutual Fund has launched the DSP Banking & Financial Services Fund (DSP BFSF), banking on the sector that has outperformed the broader Nifty 50 Index in all 10-year periods. However, the sector has been underperforming the Nifty 50 Index since September 2019. Read

12:36 PM

India closer to agreement with Tesla to import EVs, set up facility: Report

India is closing in on an agreement with Tesla Inc. that would allow the US automaker to ship its electric cars to the country from next year and set up a factory within two years, according to people familiar with the Indian government’s thinking. Read

12:22 PM

MARKET CHECK: Sensex surges 400 points

12:10 PM

Kumar Mangalam Birla's carbon black unit to raise $1.5 billion loan: Report

Birla Carbon India Pvt., a closely-held unit of billionaire Kumar Mangalam Birla controlled Aditya Birla Group, is raising an offshore loan of about $1.5 billion, according to people familiar with the matter. Read

11:56 AM

This Ashish Kacholia-owned stock has zoomed over 50% thus far in November

Shares of Sastasundar Ventures (SVL) were locked in the 20 per cent upper circuit at Rs 469.10 on the BSE on Tuesday at 10:47 AM; with only buyers seen on the counter. A combined 734,000 equity shares had changed hands and there were pending buy orders for a combined 168,621 shares on the NSE and BSE. Read

11:39 AM

US seeks over $4 billion from crypto exchange Binance to end criminal case

The US Justice Department is seeking more than $4 billion from Binance Holdings Ltd. as part of a proposed resolution of a years-long investigation into the world’s largest cryptocurrency exchange. Read

11:27 AM

Tata Technologies IPO: Details of public offer opening on November 22

Market observers said that a dip of Rs 17 should not be a cause of worry for investors as Tata Technologies IPO GMP is still near 70 per cent of Tata Technologies IPO price band of Rs 475 to Rs 500. Read