Sensex, Nifty end flat; broader indices up; IT shares weak, Adani rallies

Closing Bell on Friday, November 24: 8 of 10 Adani Group stocks surged as Sebi presented its findings in the Adani-Hindenburg case

3:52 PM

Tech View :: Key levels to watch on Nifty, Bank Nifty

Nifty50
The Nifty opened on a flat note and consolidated for most part of the day to close marginally in the red down ~7 points. On the daily charts, we can observe that the consolidation between 19620 – 19875 has been going on for the past seven trading sessions. the daily momentum indicator has a positive crossover and thus this consolidation should be used as a buying opportunity. On the downside, until the zone of 19630 – 19600 is held we can expect the upside momentum to resume over the next few trading sessions which can take the Nifty towards 19900 – 19930 zone.

 

Bank Nifty

Bank Nifty witnessed the continuation of the pullback and closed well in the green. The pullback has more steam left and we expect it to continue till 44000 – 44200. On the downside 43300 is the crucial support that should not be breached for the pullback to continue.

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

3:51 PM

Comment :: 'It is a healthy correction in Nifty'

It is a healthy consolidation in the Nifty so far and we feel only a decisive gap-up move above 19,850 could pave the way for a new high else range bound bias would continue. Participants should keep a close watch on the US markets and the performance of the banking majors for cues. Meanwhile, stay selective and avoid contrarian trades.   

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

3:50 PM

IPO Update :: Final hours of bidding underway

Tata Tech: 65.05x | Check details here

Gandhar Oil: 61x | Details here

Flair Writing: 44.75x | Details here

Fedbank Financial: 2.05x | Details here 

3:44 PM

SmallCap Heatmap :: Index ends 0.14% up; check top gainers and losers

3:41 PM

MidCap Heatmap :: Index ends 0.13% higher; check top gainers & losers of the day

3:40 PM

Sectoral trends :: IT, FMCG shares see profit booking; Pharma shines

3:39 PM

Nifty Heatmap :: Pharma, steel stocks, Adani Ent settle as top gainers

3:38 PM

CLOSING BELL :: Nifty gives up 19,800 at close

3:37 PM

CLOSING BELL :: Sensex ends lower for 2nd day

3:28 PM

ALERT :: SC hears Adani-Hindenburg case

Petitioner says

>> Sebi had info since 2014; actions doubtful

>> In 2014, DRI estimated over invoicing of equipment worth Rs 6,700 crore

>> Sebi links ignorance of this letter to then Sebi chairman

3:21 PM

ALERT :: SC hears Adani-Hindenburg case

>> Sebi says it is not seeking extension of time

>> Investigation in 22 of 24 cases complete

>> For the remaining, need information from foreign regulators; not in control of the timeline

>> Have started concluding investigation in 22 cases

3:13 PM

Credit card spending in India rises to Rs 1.78 trn in Oct, sets record

The credit card industry is likely to see loan growth moderating after the Reserve Bank of India (RBI) last week asked commercial banks and non-banking financial companies to increase the risk weight for unsecured lending. READ MORE

3:03 PM

ALERT:: Greaves Cotton arm unveils Biofuel Gensets; stock up 1%

Greaves Engineering, the engineering division of Greaves Cotton Limited (GCL), unveiled Biofuel Gensets at the 14th Agrovision India 2023 Agri Summit, held in Nagpur between November 24 and 27, 2023, the company said in an exchange filing.

2:49 PM

ALERT:: European markets marginally in red day after ECB minutes

Source: Yahoo Finance

2:35 PM

ALERT:: Bondada Engineering wins Rs 20 cr order; stock down 1%

Bondada Engineering in an exchange filing said it won Rs 20.18 crore order for supply of 100 Qty of 40 mtr ground based towers 200 KMPH to Gujarat and 100 Qty to Maharashtra. 

 

The stock trades under the SME segment.
 

2:21 PM

Sector Alert:: Textile shares in demand

2:08 PM

L&T, RIL, AU Small Finance Bank: Chris Wood rejigs India equity portfolio

This, he wrote in his weekly note, GREED & fear, will be paid for by reducing the existing investments in Bajaj Finance, Oil & Natural Gas Corporation (ONGC), and Reliance Industries (RIL). READ MORE

1:54 PM

ALERT:: Realty stocks in demand; Phoenix Mills soars 5%

1:42 PM

Defence shares in focus; HAL hits new high, BDL, Mazagon Dock gain up to 4%

According to reports India is set to give preliminary approval to three mega indigenous projects worth Rs 1.4 trillion. READ MORE

1:28 PM

ALERT:: IndusInd Bank inks pact with IGL for acceptance of Digital Rupee

IndusInd Bank today announced its association with Indraprastha Gas (IGL), to facilitate the acceptance of Digital Rupee, the Central Bank Digital Currency (CBDC) launched by the Reserve Bank of India in 2022.

1:13 PM

Market share gains, margins and store network expansion to support Titan

The company delivered a better than expected performance in Q2FY24 on the back of healthy revenue growth and expansion in operating profit margins. READ MORE

12:58 PM

Sector Alert:: Auto ancillaries in top gear; Munjal Auto zooms 8%

12:46 PM

What are cryptocurrency exchanges and how do they work? All details here

The crypto market is expected to reach $4.94 billion by 2030, and there is an estimated more than 600 crypto exchanges worldwide. READ MORE

12:31 PM

Prestige Estates expects Rs 550 cr from new housing project in Bengaluru

Prestige Estates expects its sale bookings to rise 55 per cent this fiscal to touch an all-time high of Rs 20,000 crore on strong demand for residential properties. READ MORE

12:18 PM

Himatsingka Seide soars 8% to hit fresh 52-week high on stable outlook

HSL's operating margin will stabilize at 18-22 per cent this fiscal year, compared to 12.8 per cent in fiscal 2023, aided by better capacity utilisation and easing of cotton prices, said CRISIL. READ MORE

12:05 PM

Market Check :: Top losers on the BSE at this hour

11:48 AM

Market Check :: Top BSE gainers at this hour

11:37 AM

India could miss planned divestment targets by more than half this year

The sale of NMDC Steel will not conclude this year due to state elections and federal elections next summer. The company's main plant is in the mineral rich state of Chhattisgarh, where it is a major employer and unions have protested the sale. READ MORE

11:25 AM

IPO Update :: Flair Writing issue subscribed 8x so far on final day

11:15 AM

State-owned insurers rally up to 11%; GIC Re, New India hit 52-week highs

According to AM Best, these ratings reflect these companies balance sheet strength, which it assesses as strong, as well as adequate operating performance, favourable business profile and appropriate enterprise risk management (ERM). READ MORE