Stock Market Crash Highlights: Sensex tanks 1190pts, Nifty slid to 23900 on F&O expiry, global woes

Stock Market Highlights: The day ended in favor of the bears, as 46 out of the 50 constituent stocks of the Nifty50 closed in the red

4:07 PM

Stock Market Highlights LIVE Updates: Nifty index is still facing strong resistance near 24,350-24,360 levels

Nifty opened flat and saw buying interest in the first half. However, the index encountered resistance near 24,350, experienced intense selling pressure, and settled the day on a negative note at 23,914. The broader market indices, Nifty Midcap 100 and Nifty Small Cap 100, relatively outperformed the headline indices and closed on flat note. The volatility index India Vix surged by 3.96% to 15.21, indicating a rise in market volatility.

 

Technically, on a daily chart, the Nifty has broken the support of 21-Days exponential moving average (DEMA) and formed a big red candle, which indicates weakness. On the downside, the index will find immediate support near 23,800, followed by 23,560, which is the 200-Days exponential moving average (DEMA) support level. Index is still facing strong resistance near 24,350-24,360 levels. As long as the index persists below 24,360, traders should focus on booking profits on bounce and wait for fresh breakout.

 

Bank Nifty opened on a positive note, witnessed buying interest in first half but index then saw heavy profit booking and closed the day on a negative note at 51,907. Technically, on a daily chart, Bank Nifty has formed a bearish engulfing candle, indicating weakness. On downside, 21-Days exponential moving average (DEMA) is placed near 51,490, will act as immediate support for the Bank nifty followed by 50,980. Traders are advised to book profits on the bounce and wait for a sustained breakout above 52,600.

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

4:05 PM

Stock Market Highlights LIVE Updates: Nifty50 falls below the crucial support level of 23,940

The Nifty slipped sharply during the day, falling below the crucial support level of 23,940. The sentiment looks weak, and further weakness seems possible from here. On the daily chart, the index has closed a gap it created recently. In the short term, if the Nifty falls below 23,870, it might continue declining toward 23,500. However, if it sustains above 23,870 and does not make a lower low, it could witness a sharp recovery toward 24,200 and higher.

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

3:48 PM

Stock Market Highlights LIVE Updates: SBI Life, HDFC Life, M&M fall up to 5% on NSE

SBI Life, HDFC Life, and M&M fell up to 5 per cent on NSE.

3:44 PM

Stock Market Highlights LIVE Updates: Nifty IT, Auto, Financial Services bleed

Among sectors, Nifty IT, Nifty Auto and Nifty Financial Services bled the most. 

3:41 PM

Stock Market Highlights LIVE Updates: Broader indices outperform

The BSE SmallCap index surged 0.41 per cent, while the BSE MidCap ended marginally lower by 0.06 per cent.

3:36 PM

Stock Market Highlights LIVE Updates: 29 out of 30 stocks end in red on Sensex

M&M, Infosys, HCL Tech and Adani Ports were among the top losers on the BSE Sensex.

3:34 PM

Stock Market Highlights LIVE Updates: Nifty closes over 350 pts down

The NSE's Nifty50 closed below 24k mark at 23,914 level, down 360 points or 1.49 per cent. 

3:33 PM

Stock Market Highlights LIVE Updates: Sensex ends nearly 1,200 pts down

The BSE Sensex closed at 79,043 level, down 1,190 points or 1.48 per cent on Thursday.

3:17 PM

Stock Market LIVE Updates: Will Enviro Infra engineers IPO list with bang? GMP up 33%, Experts weigh

Enviro Infra Engineers IPO GMP:The unlisted shares of specialised water and wastewater management company Enviro Infra Engineers continue to command a strong premium in the grey market ahead of their market debut, scheduled for November 29, 2024. The company's shares are trading at around Rs 197, reflecting a grey market premium (GMP) of Rs 49 or 33.11 per cent over the IPO allotment price of Rs 148, according to sources tracking grey market activities. Read more

3:12 PM

Stock Market LIVE Updates: Life insurance stocks fall; HDFC Life, SBI Life, Max Financial dip up to 7%

Shares of life insurance companies traded weak on Thursday, falling up to 7 per cent on reports that insurance regulator Insurance Regulatory and Development Authority of India (IRDAI) may consider capping parent bank's share to insurers' total bancassurance business to up to 50 per cent only, CNBC-TV18 said, citing sources.

 

Meanwhile, at the recently held State Bank of India (SBI) Economist Conclave, finance minister Nirmala Sitharaman highlighted that though bancassurance has improved insurance penetration, it has also led to mis-selling. Read more

3:04 PM

Stock Market LIVE Updates: 3 PM market update

At 3 PM, the BSE Sensex stood at 78,968.04 level, down 1266.04 points or 1.58 per cent, while the NSE's Nifty50 slumped 381 points or 1.57 per cent at 23,892.95. 

 

 

2:50 PM

Stock Market LIVE Updates: Is GMP a good barometer for evaluating an IPO? Here's what experts suggest

Investors typically look at the grey market premium (GMP) of an unlisted stock ahead of its initial public offering (IPO) to gauge how well the issue is likely to be received by the markets, and the price at which it is likely to list in the secondary markets.

 

However, off late, the GMP has not depicted the true picture of how the stock is likely to list in some cases. Read more

2:48 PM

Stock Market LIVE Updates: Heatmap check

Infosys, M&M, and Titan were among the top 29 losers out of 30 bluechip stocks on the BSE Sensex.

2:31 PM

Stock Market LIVE Updates: Infosys, HDFC Bank, RIL drag Sensex

 Infosys, HDFC Bank, and Reliance Industries were among the top contributors to the BSE Sensex's fall on Thursday.

2:27 PM

Stock Market LIVE Updates: Nifty IT, Auto lead losses

Among sectoral trends, Nifty IT fell the most, slipping 2.4 per cent and was followed by the likes of Nifty Auto, and Nifty Financial Services among others.

2:12 PM

Stock Market LIVE Updates: Luxury brandy launch pushes Tilak Nagar Industries 4% higher on Nov 28

Tilaknagar Industries share price: Shares of liquor manufacturer Tilaknagar Industries were in demand on Thursday, November 28, 2024, as the scrip soared up to 3.93 per cent to an intraday high of Rs  427.50 per share. 

 

Notably, the scrip had hit a fresh 52-week high of Rs 428.70 per share in the previous session, November 27, 2024. 

 

The uptick in the Tilaknagar Industries came after the company announced that it has forayed into the luxury brandy segment with the launch of Monarch Legacy Edition for Rs 6,750 in Maharashtra. Read more

2:10 PM

Stock Market LIVE Updates: 2 PM market update

At 2:08 PM, the BSE Sensex stood at 79,525.18 level, down 708.90 points or 0.88 per cent, while the NSE's Nifty50 slumped202 points or 84 per cent at 24,072.20. 

 

 

2:00 PM

Stock Market LIVE Updates: Ajmera Realty & Infra cuts debt by Rs 100 cr, down to nearly Rs 700 cr

Ajmera Realty & Infra India Ltd on Thursday said it has repaid Rs 100 crore of its corporate debt and accordingly the outstanding debt has been reduced to Rs 693 crore.

 

The Mumbai-based company in a regulatory filing said it has "repaid Rs 100 crore of its corporate debt. The repayment is facilitated from the funds raised through the recent equity offering of Rs 225 crore." Read more

1:50 PM

Stock Market LIVE Updates: Ujjivan Small Fin up 9% on selling stressed loan portfolio worth Rs 270 cr

Ujjivan Small Finance shares jumped 8.7 per cent on BSE in Thursday's trade and logged an intraday high of Rs 36.5 per share. The stock climbed after the small finance bank completed the sale of a stressed loan portfolio worth Rs 270.35 crore.

 

Around 1:37 PM, Ujjivan share price was up 6.76 per cent at Rs 35.83 per share on BSE. In comparison, the BSE Sensex was down 1.15 per cent at 79,311.44. The market capitalisation of the company stood at Rs 6,931.41 crore. The 52-week high of the stock stood at Rs 62.99 per share and the 52-week low was at Rs 32.01 per share. Read more

1:36 PM

Stock Market LIVE Updates: Edelweiss Financial Services soars 10% on buzz of stake sale in MF unit

Shares of Edelweiss Financial Services were locked in the 10 per cent upper circuit at Rs 123.75 on the BSE in Thursday’s intra-day trade in an otherwise weak market. In the past two days, the stock has rallied 14 per cent on reports that the company was looking to sell a minority stake in its mutual fund (MF) arm. The company has initiated the process by hiring an investment banker. Read more

1:21 PM

Stock Market LIVE Updates: Sensex plunges 1,200pts, Nifty dips below 24k; key reasons for market crash

Stock Market LIVE Updates:  After starting the day on a flattish note with a positive bias, the benchmarks showcased heightened volatility, with the BSE’s 30-stock bluechip index, Sensex dropping 1,192 points or 1.48 per cent at 79,255, from its day’s high of 80,447.40 on Thursday. Meanwhile, the NSE’s Nifty50 fell 359 points or 1.47 per cent at 23,986 level from its day’s high of 24,345. READ MORE

1:08 PM

Stock Market LIVE Updates: Tube Investments rises 7% on acquiring 67% stake in Kcaltech for Rs 62 cr

Stock Market LIVE Updates:  Tube Investments' share price rose 7 per cent on BSE in Thursday's trade and logged an intraday high of Rs 3,630 per share. The stock was in demand after the company announced to acquire 67 per cent equity share capital of Kcaltech System India. The transaction is worth around Rs 62 crore. READ MORE

 

12:54 PM

Stock Market LIVE Updates: This Vijay Kedia portfolio stock rose 7% in trade; zoomed 118% in a year

Stock Market LIVE Updates:  Sudarshan Chemical shares rose 6.6 per cent on BSE in Thursday's trade and logged an intraday high of Rs 1,052 per share. The counter saw buying after promoters, Pradeep Ramwilas Rathi and Subhadra Pradeep Rathi, sold a 3 per cent stake in the company for Rs 197 crore through open market transactions. READ MORE

 

12:42 PM

Stock Market LIVE Updates: M&M, and Infosys among top laggards

Stock Market LIVE Updates:  Among the Nifty50 constituent stocks, Infosys, M&M, and Tech Mahindra were among the losers, while Adani Enterprises and HDFC Life were leading the gains.

12:31 PM

Stock Market LIVE Updates: Adani Group shares rally for 2nd day; Adani Green, Total Gas zoom up to 19%

Stock Market LIVE Updates: Shares of Adani Group companies were trading higher for the second straight day, and rallied up to 19 per cent on the BSE in Thursday’s intra-day trade after the group company Adani Green Energy clarified Wednesday that allegations against Gautam Adani, Sagar Adani, and senior executive Vneet Jaain under the US Foreign Corrupt Practices Act (FCPA) by the US Department of Justice (DoJ) were “incorrect.” However, the company acknowledged that the executives face three other charges, including securities and wire fraud, in the indictment. READ MORE

 

12:20 PM

Stock Market LIVE Updates: SpiceJet flies 3% after lessor Aircastle withdraws insolvency case

Stock Market LIVE Updates: SpiceJet shares advanced up to 3.2 per cent on BSE in Thursday's trade and logged an intraday high of Rs 63.4 per share. The stock rose after Aircraft lessor Aircastle (Ireland) withdrew its insolvency case against SpiceJet. Around 12:03 PM, SpiceJet's share price was up 0.99 per cent at Rs 62 per share on BSE. In comparison, the BSE Sensex was up 0.97 per cent at 79,453.01. The market capitalisation of the company stood at Rs7,940.04 crore. The 52-week high of the stock stood at Rs 79.9 per share and the 52-week low was at Rs 42.05 per share. READ MORE 

12:10 PM

Stock Market LIVE Updates: Why Nifty IT index fell 2% after two straight sessions of lifetime highs?

Stock Market LIVE Updates: The Nifty IT index saw a sharp decline on Thursday, following overall a weakness in the market. The index slipped 2.11 per cent hitting an intraday low at 43,087.25 points.  In the last 30 days the index has moved up by 3 per cent, in comparison to NSE’s Nifty50’s drop of 1.16 per cent. At 11:34 AM; the Nifty IT index was down 2 per cent, compared to Nifty50’s fall of 0.78 per cent. READ MORE

 

 

11:59 AM

Stock Market LIVE Updates: Adani Group shares rally for 2nd day; Adani Green, Adani Total Gas gain up to 19%

Stock Market LIVE Updates: Shares of Adani Group of companies were trading higher for the second straight day, rallying up to 19 per cent on the BSE in Thursday’s intraday trade after Adani Green Energy clarified that allegations against Gautam Adani, Sagar Adani, and senior executive Vneet Jaain under the US Foreign Corrupt Practices Act (FCPA) by the US Department of Justice (DoJ) are “incorrect.”

11:57 AM

Stock Market LIVE Updates: Vardhman Textile to increase fabric capacity with Rs 350 cr investment

Stock Market LIVE Updates: The board of Vardhman Textile has approved to increase the processed fabric capacity at Vardhman Fabrics, Budhni, Madhya Pradesh by about 31 million meters p.a. with a total capital outlay of Rs 350 crore, as per its filing.

 

11:49 AM

Stock Market LIVE Updates: TCS partners with IIT KGP to launch advanced research center

Stock Market LIVE Updates: Tata Consultancy Services (TCS) has set up an advanced research center in partnership with the Indian Institute of Technology Kharagpur (IIT KGP) to produce high-quality research in the areas of digital health, robotics and intelligent systems leveraging edge computing, embedded systems, and AI.