Stock Market Highlights: Sensex holds 80k, ends 100 pts down; Ratings downgrade jolt Adani shares

Stock Market Close Highlights: The NSE Nifty 50 index slipped below 24,200; Small-cap stocks outperformed the broader market, with the Nifty Smallcap100 closing 0.8 per cent higher on Tuesday.

4:04 PM

Stock Market Highlights LIVE Updates: 24,350 will act as strong resistance for Nifty in short term

Nifty opened with a gap up, but the index then saw profit booking and settled the day on a negative note at 24,195, while Nifty Smallcap 100 outperformed Nifty, closing 0.82 per cent higher.

Technically, on a daily chart, Nifty has formed a bearish belt hold pattern, signifying weakness. According to this pattern, 24,350 will act as strong resistance for the index in the short term. On downside, 21-Days exponential moving average (DEMA) is placed near 24,070.

Thus, 24,070 will provide immediate support for the index followed by psychological support of 24,000. Overall short-term trend is up, but as long as index persists below 24,350, traders should focus on booking profits and wait for fresh breakout.

 

Bank Nifty opened with a gap up, witnessed profit booking, and settled the day on a flat note at 52,192 levels. Technically, the Bank Nifty failed to cross the major barrier of 52,500-52,580 and formed a bearish belt hold pattern, indicating weakness. As per this pattern, as long as index maintains below 52,580 weakness will continue. Thus, traders are advised to book profits and wait for a fresh breakout above 52,580.

(View by: By Hrishikesh Yedve, AVP Technical and Derivatives Research at Asit C. Mehta Investment Interrmediates Ltd)

 

 

4:01 PM

Stock Market Highlights LIVE Updates: In the short term, Nifty50's trend remains positive

Nifty remained range bound for the second consecutive session, confined between the 21 EMA and the 55 EMA. In the short term, the trend remains positive, with a "buy-on-dips" strategy favoring traders. On the lower end, 23,950–24,000 might act as crucial support levels, while 24,500 could act as a key resistance level. A decisive move above 24,500 might trigger a further sharp rally.

(View by: Rupak De, Senior Technical Analyst, LKP Securities)

 

3:47 PM

Stock Market Highlights LIVE Updates: Shriram Finance, Britannia, Asian Paints gain on NSE

Shriram Finance, Britannia, Asian Paints gained on NSE among others. 

3:44 PM

Stock Market Highlights LIVE Updates: Nifty IT, FMCG lead among sectors

Among sectors, Nifty IT, Nifty FMCG and Nifty Media led gains on Tuesday.

3:41 PM

Stock Market Highlights LIVE Updates: Broader indices close in green

The BSE SmallCap index closed 0.62 per cent higher, while the BSE MidCap index rose 0.10 per cent.

3:37 PM

Stock Market Highlights LIVE Updates: 16 out of 30 stocks close in red

Ultratech Cement, Adani Ports, Sun Pharma and NTPC were the top losers on the BSE Sensex. 

3:35 PM

Stock Market Highlights LIVE Updates: Nifty50 finishes below 24,200

NSE's Nifty50 closed at 24,194 level, down 27 points or 0.11 per cent.

3:32 PM

Stock Market Highlights LIVE Updates: Sensex ends 100 pts down

The BSE Sensex closed at 80,004 level, down 105 points or 0.13 per cent.

3:20 PM

Stock Market LIVE Updates: Here's why Krystal Integrated Services shares zoomed 7% on Tuesday

Stock Market LIVE Updates:  Shares of diversified commercial services provider Krystal Integrated Services zoomed 6.33 per cent to the day's high of Rs 789.25 on the National Stock Exchange during intra-day trade on Tuesday. The northward move in the company’s stock price came following news that it had been awarded a significant contract worth around Rs 106.29 crore (inclusive of all applicable taxes and duties) from the Brihanmumbai Municipal Corporation (BMC).  READ MORE

3:09 PM

Stock Market LIVE Updates: Angel One gets SEBI nod to launch Mutual Fund business

Angel One has officially received approval from the Securities and Exchange Board of India (SEBI) to begin its mutual fund operations.

3:04 PM

Stock Market LIVE updates: 3 PM market update

At 3 PM, the BSE Sensex was trading at 80,026.38, down 83.47 points or 0.10 per cent, while the NSE's Nifty50 stood at 24,196.05, down 25.85 points or 0.11 per cent. 

3:02 PM

Stock Market LIVE Updates: Moody's revises outlook on 7 Adani group stocks to negative

According to reports, global credit rating agency Moody's revised its outlook on 7 Adani group stocks to negative.

2:52 PM

Stock Market LIVE Updates: Nifty IT, FMCG lead among sectors

 Nifty IT, Nifty FMCG and Nifty Media indices led gains among sectors on Tuesday.

2:44 PM

Stock Market LIVE Updates: This Vijay Kedia portfolio stock nears summit; zooms 14% in subdued market

Shares of Siyaram Silk Mills hit an over six-year at Rs 788, as they zoomed 14 per cent on the BSE in Tuesday’s intra-day trade in an otherwise subdued market amid heavy volumes on expectations of strong earnings. The stock price of this smallcap company surpassed its previous high of Rs 743.05 touched on November 8, 2024. It was trading at its highest level since December 2017. It had hit a record high of Rs 799 on December 11, 2017. Read more

2:35 PM

Stock Market LIVE Updates: Market breadth favours advances

2,221 stocks out of the total 3,985 were trading in green on Tuesday, while 1,622 stocks faced declines.

2:21 PM

Stock Market LIVE Updates: AstraZeneca Pharma shares up on CDSCO nod for cancer drug Lynparza

AstraZeneca share price:Shares of pharmaceutical major AstraZeneca Pharma inched up to 1.98 per cent to hit an intraday high of Rs 6,583.65 per share on Tuesday, November 26, 2024.

 

The rise in AstraZeneca Pharma share price came after the company announced that it has secured permission to import for sale and distribution in Form CT-20 from the Central Drugs Standard Control Organisation (CDSCO), Directorate General of Health Services, Government of India for the additional indication of Olaparib film-coated Tablets 100 mg & 150 mg (Lynparza).  Read more

 

2:10 PM

Stock Market LIVE Updates: This pharma stock listed in July has rallied 10% in trade; Check details

Emcure Pharmaceuticals shares gained 9.9 per cent in Tuesday's trade on positive outlook and logged an intraday high at Rs 1,440.9 per share on BSE. 

 

Around 1:55 PM, Emcure share price was up 5.8 per cent at Rs 1,387.05 per share on BSE. In comparison, the BSE Sensex was down 0.24 per cent at 79,914.82. The market capitalisation of the company stood at Rs 26,228.89 crore. 

 

Emcure Pharmaceuticals reported a 38.2 per cent year-on-year (Y-o-Y) increase in net profit for the quarter ending September 30, 2024, reaching Rs. 202 crore, compared to Rs. 145.8 crore in the same period last year. The company’s revenue grew by 20.4 per cent Y-o-Y, rising to Rs. 2,002 crore from Rs. 1,663 crore in Q2 of the previous fiscal year. Read more

2:00 PM

Stock Market LIVE Updates: 2 PM market update -- Benchmarks marginally lower

At 2 PM, the BSE Sensex was trading at 80,022.11, down 87.74 points or 0.11 per cent, while the NSE's Nifty50 stood at 24,186.40, down 35.50 points or 0.15 per cent. 

1:54 PM

Stock Market LIVE Updates: Shriram Finance, Britannia Industries lead the gains

Stock Market LIVE Updates: Shriram Finance, Britannia Industries, Asian Paints, BEL, and Infosys were leading the gains among the NSE Nifty50 constituents, while Adani Enterprises, Adani Ports, UltraTech Cement, Bajaj Auto, and Mahindra & Mahindra were among the top laggards.

1:43 PM

Stock Market LIVE Updates: Suraksha Diagnostic IPO opens on Nov 29: Check GMP, dates & other details

Stock Market LIVE Updates: Suraksha Clinic and Diagnostic, a provider of pathology, radiology testing, and medical consultancy services, is gearing up for its initial public offering (IPO), set to open for public subscription on Friday, November 29, 2024. According to the company's red herring prospectus (RHP), bidding for anchor investors will precede this, commencing on Thursday, November 28, 2024. READ MORE

1:35 PM

Stock Market LIVE Updates: Triveni Turbine hits new high, up 16% amid heavy volumes on healthy outlook

Stock Market LIVE Updates: Shares of Triveni Turbine hit a record high of Rs 885, as they soared 16 per cent on the BSE in Tuesdays’ intra-day trade amid heavy volumes on a healthy outlook. The stock surpassed its previous high of Rs 842.55 touched on August 14, 2024. In the past nine trading days, the stock has zoomed 44 per cent. READ MORE

 

 

1:27 PM

Stock Market LIVE Updates: Saregama rises 5% on acquiring controlling stakes in its arm Pocket Aces

Stock Market LIVE Updates: Saregama India shares gained 5.2 per cent in Tuesday's trade and logged an intraday high at Rs 499.5 per share on BSE. In comparison, the BSE Sensex was down 0.20 per cent at 79,945.89. The market capitalisation of the company stood at Rs 9,495.87 crore. READ MORE

 

1:13 PM

Stock Market LIVE Updates: Geojit on Symphony

Symphony delivered a strong Q2FY25 financial results, driven by its robust domestic sales growth, solid brand value, and diversified product portfolio. Symphony’s recent launch of 17 air cooler models and expansion into the water heater market are expected to boost demand and sales performance, while its focus on environmentally conscious solutions and innovative products should drive long-term growth. Management expressed confidence in future growth, projecting a double-digit CAGR in India, fuelled by market expansion and advancements in product innovation.

Despite recent share buybacks and elevated valuation, we believe the stock offers value at current levels. Hence, we upgrade our rating on the stock from Reduce to Accumulate with a revised target price of Rs.1,519, based on 37x FY26E adjusted EPS.

 

1:04 PM

Stock Market LIVE Updates: Sensex trades below 80k, Nifty below 24,200

Stock Market LIVE Updates: The BSE Sensex was quoted trading at 79,916.38, down 193.47 points or 0.24 per cent, while the NSE Nifty50 was seen at 24,172.05, down 49.85 points or 0.21 per cent.

12:58 PM

Stock Market LIVE Updates: ACME Solar slips 7% on posting weak Q2 results; PAT down 60% YoY

Stock Market LIVE Updates: Newly listed ACME Solar Holdings shares declined 7.4 per cent in Tuesday's trade and logged an intraday low at Rs 239 per share on BSE. In comparison, the BSE Sensex was down 0.30 per cent at 79,869.66. The market capitalisation of the company stood at Rs 15,081.81 crore.  READ MORE

 

12:52 PM

Stock Market LIVE Updates: Defence shares extend rally after NDA alliance victory in Maha; GRSE up 10%

Stock Market LIVE Updates: Shares of defence and related companies have continued to trade higher for the second consecutive day following the decisive victory of the ruling National Democratic Alliance (NDA) in Maharashtra. The political stability is expected to bolster the Government of India’s (GOI) capital expenditure momentum, leading to improved order inflows across key sectors such as railways and defense. READ MORE

 

12:41 PM

Stock Market LIVE Updates: L&T Finance forges strategic partnership with Amazon Finance India

Stock Market LIVE Updates: L&T Finance (LTF) has announced a strategic partnership with Amazon Finance India to develop innovative credit solutions aimed at enhancing affordability for Amazon's eligible customers and merchants. "The fintech partnership was announced at India's premier Artificial Intelligence (AI)-themed event in the Banking, Financial Services, and Insurance (BFSI) sector, 'RAISE 2024', organised by LTF in Mumbai. This partnership will enhance LTF's product diversification strategy and improve credit availability for consumers in a fast and seamless manner," the company said in a release.

12:32 PM

Stock Market LIVE Updates: Sagility India gains 10% on reporting 236% rise in PAT; revenue up 21%

Stock Market LIVE Updates: Recently listed Sagility India shares gained 9.9 per cent in Tuesday's trade and logged an intraday high at Rs 31.44 per share on BSE. In comparison, the BSE Sensex was down 0.03 per cent at 80,083.03. The market capitalisation of the company stood at Rs 14,535.52 crore. The counter saw buying after the company reported healthy Q2FY25 numbers. READ MORE

 

12:24 PM

Stock Market LIVE Updates: LT Foods expands presence in Saudi Arabia's $2 bn rice market; stock up 5%

Stock Market LIVE Updates:  LT Foods shares price rose up to 5.57 per cent at Rs 375 on the BSE in Tuesday’s intraday trade. LT Foods stock has corrected 16 per cent from its 52-week high of Rs 447.95 reached on September 9, 2024, while soaring 134 per cent above its 52-week low of Rs 160.05  touched on March 14, 2024. READ MORE

 

12:13 PM

Stock Market LIVE Updates: Anand Rathi Research on Astral

Balance sheet continues to be lean (Rs 2.7bn cash surplus, down 50% due to capex). Management expects 10-15%/15% volume/revenue growth in plumbing/paints & adhesives in FY25. 

 

Adhesive margin guidance: India 15%, overseas 8-10%; overall capex guidance: Rs1bn. We expect strong 18%/22%/24% revenue/EBITDA/PAT CAGRs over FY24-27; hence, upgrade the stock to a Buy with a target price of Rs2,666, 68.75x FY27e EPS (earlier a Hold, at a Rs1,793 TP, 62.5x FY25e).

 

Risks: Keener competition, raw material availability and pricing.

Astral