Stock Market Highlights: RIL, Airtel lift Sensex 760 pts; Nifty ends atop 24,100; Pharma outperforms

Stock Market Highlights:The day ended in favour of bulls as 43 out of 50 constituent stocks on Nifty50 settled higher, with gains led by Bharti Airtel, Cipla, Sun Pharma, M&M, and Tata Consumer

Stock Market Highlights, Friday, November 29, 2024: The benchmark equity indices BSE Sensex ended the week's last trading session in positive territory. The BSE Sensex jumped 759.05 points or 0.96 per cent to settle at 79,802.79, trading in the range of 79,923.90-79,026.18. Similarly, the NSE Nifty50 settled at 24,131.10, up 216.95 points or 0.91 per cent.   

The day ended in favour of bulls as 43 out of 50 constituent stocks on Nifty50 settled higher, with gains led by Bharti Airtel, Cipla, Sun Pharma, Mahindra & Mahindra, and Tata Consumer of up to 4.40 per cent. Conversely, Power Grid Corporation, Shriram Finance, Hero MotoCorp, HDFC Life, and Nestle India led losses extending up to 1.35 per cent. 

Notably, Reliance Industries (RIL) ended 1.63 per cent higher on Friday, leading the pack among index heavyweights. 

 

Among the broader markets, the Nifty Midcap100 and Nifty Smallcap100 indices settled with gains of 0.16 per cent and 0.75 per cent, respectively. All sectoral indices settled with gains, barring Nifty PSU Bank and Nifty Realty.   The pharmaceutical and healthcare sectors stole the show, with Nifty Pharma and Healthcare indices rising 2.35 per cent and 2.04 per cent, respectively.

4:03 PM

Stock Market Highlights LIVE Updates: Traders should focus on booking profits as index persists below 24,360

Nifty opened flat, experienced considerable buying demand, and concluded the day on a high note around 24,131 levels. The volatility index India Vix cooled off by 5.12 per cent to 14.43, indicating a drop in market volatility.

Technically, on a daily chart, the Nifty has reclaimed the support of 21-Days exponential moving average (DEMA) and formed a green candle, which indicates strength. On the upside, the index will find immediate hurdle near 24,350-24,360 levels. The 21-DEMA is placed near 24,080, which will act as immediate support for the index followed by 23,570, where the 200-Days exponential moving average (DEMA) support is placed. 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, but after some initial volatility, the index consolidated in a narrow range and settled the day on a positive note at 52,056 levels. Technically, on a daily chart, Bank Nifty has produced an insider bar candle, while on a weekly scale, the index has formed a doji candle, indicating uncertainty. The index is facing strong resistance near 52,500-52,600 levels. On downside, 21-Days exponential moving average (DEMA) is placed near 51,540, which will act as immediate support for the Bank nifty. Traders are advised to book profits on the bounce and wait for a sustained breakout above 52,600.

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

3:55 PM

Stock Market Highlights LIVE Updates: Large-cap-driven rally ensued in the domestic market

A large-cap-driven, broad-based rally ensued in the domestic market. Discretionary sectors performed well, benefiting from the festive season. The pharma and healthcare sectors saw renewed growth, supported by strong earnings and a moderation in valuations after recent corrections.

Additionally, the anticipated slowdown in India's Q2 GDP to 6.5 per cent has already been reflected in Q2 corporate earnings, which the market appears to have discounted. Meanwhile, global sentiment remained subdued due to the appreciation of the Japanese yen, as inflation stayed above the central bank's tolerance level.

(View by: Vinod Nair, Head of Research, Geojit Financial Services.)

3:48 PM

Stock Market Highlights LIVE Updates: Bharti Airtel, Sun Pharma, Cipla rise on NSE

Bharti Airtel, Sun Pharma, and Cipla rose up top 4 per cent on the NSE.

3:46 PM

Stock Market Highlights LIVE Updates: Nifty Pharma, Healthcare, Auto gain among sectors

Among sectoral trends, Nifty Pharma outpaced others rising 2.3 per cent and was followed by Nifty Healthcare, Auto and Media.

3:41 PM

Stock Market Highlights LIVE Updates: Broader indices end in green

The BSE SmallCap index rose 0.76 per cent, while the BSE MidCap index closed 0.31 per cent higher.

3:39 PM

Stock Market Highlights LIVE Updates: Bharti Airtel, Sun Pharma, M&M gain up to 4% on Sensex

Bharti Airtel, Sun Pharma, and M&M were among the top gainers on the BSE Sensex, rising up to 4 per cent.

3:37 PM

Stock Market LIVE Updates: Nifty50 closes above 24,100

The NSE's Nifty50 closed at 24,131 level up 216 points or 0.91 per cent.

3:33 PM

Stock Market LIVE Updates: Sensex ends over 750 pts higher

The BSE Sensex closed at 79,802.79, up 759.05 points or 0.96 per cent. 

3:19 PM

Stock Market LIVE Updates: Ashoka Buildcon shares rise 4% on order win

Ashoka Buildcon submitted bid for a project to Banglore International Airport. The accepted bid price for the project is Rs.1,055.00 crore, incl. GST.

3:05 PM

Stock Market LIVE Updates: These 3 Adani Group stocks have zoomed up to 54% in just 3 days

Shares of Adani Group companies continued their recovery mode, zooming up to 54 per cent in the past three trading days 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.

 

Shares of Adani Green Energy, Adani Energy Solutions and Adani Total Gas have rallied up to 22 per cent on the National Stock Exchange (NSE) in Friday’s intra-day trade. Read more

3:04 PM

Stock Market LIVE Updates: 3 PM market update

At 3 PM, the BSE Sensex stood at 79,781.23 level, up 737.49 points or 0.93 per cent, while the NSE's Nifty50 surged 232 points or 0.97 per cent at 24,146.55. 

2:54 PM

Stock Market LIVE Updates: IPO Calendar: SME IPOs, listings to keep primary Market abuzz next week

Stock Market LIVE Updates:  India's primary markets are gearing up for another eventful week, with the much-awaited listing of Suraksha Diagnostic alongside seven IPOs on SME platforms. The SME listings include Ganesh Infraworld, Agarwal Toughened Glass India, Abha Power and Steel, Apex Ecotech, Rajputana Biodiesel, Rajesh Power Services, and C2C Advanced Systems.  READ MORE

2:40 PM

Stock Market LIVE Updates: No negative actions so far by investors on Adani after indictment, says CRISIL

Backing embattled Adani Group, rating agency CRISIL Ratings on Friday said the conglomerate has sufficient liquidity and operational cash flows to meet debt obligations and committed capex and that there has been no negative actions so far by lenders and investors following the US indictment of group founder chairman.

 

The Adani Group, which has the flexibility to reduce certain discretionary capital expenditure (capex) depending on developments in financial markets and future capital availability, has a healthy Ebitda and cash balance that reduces its dependence on external debt to sustain operations, it said in a bulletin. Read more

2:38 PM

Stock Market LIVE Updates: Bharti Airtel, Adani Ports lead on NSE

Stock Market LIVE Updates: Bharti Airtel, Adani Ports lead on NSE.

2:29 PM

Stock Market LIVE Updates: Bharti Airtel stock soars 6%, logs sharpest intra-day rally in 18 months

Shares of Bharti Airtel (Airtel) rallied 6 per cent to Rs 1,648.70 on the BSE in Friday’s intra-day trade, thus recording its sharpest intra-day rally in the past 18 months. Earlier, on May 31, 2023, the stock of telecom services provider had surged 8.5 per cent. Airtel. The stock had hit a record high of Rs 1,778.95 on September 26, 2024.

 

Airtel is India’s second largest telecom operator with 352 million wireless customers in India and 157 million subscribers across 14 African countries. It enjoys industry leading average revenue per user (ARPU) in the wireless business in India. Read more