Stock Market Close Highlights: Sensex sheds 241pts, Nifty ends near 23,450; IT tanks, FMCG shines

Stock Market highlights: Indian benchmark equity indices BSE Sensex and Nifty50 settled lower on Monday

4:00 PM

Stock Market Highlights LIVE Updates: Overall chart setup remains weak; partial recovery possible

"Nifty exhibited some volatility during the day, slipping near a historical congestion level on the daily timeframe. On the daily chart, the index has been trading below the 200-day moving average (DMA) for the past two sessions. The RSI has entered the oversold zone, accompanied by a bearish crossover. While the overall chart setup remains weak, the selling pressure appears to have eased following a prolonged correction. In the short term, the index may recover towards 23,700–23,800. On the downside, support is positioned at 23,200–23,300."

- Views expressed by Rupak De, Senior Technical Analyst, LKP Securities

3:53 PM

Stock Market Highlights LIVE Updates: Consolidation continues

"Consolidation continued in the market; a slowdown in earnings growth and a weak rupee due to inflation impacted the sentiment. IT stocks reacted negatively today due to a reduced expectation of a FED rate cut in December, which may pose a delay in spending in the BFSI segment. On the other hand, metal stocks gained some ground after China decided to reduce tax rebates on aluminium and copper."

- Views expressed by Vinod Nair, Head of Research, Geojit Financial Services

3:48 PM

Stock Market Highlights LIVE Updates: Breadth was fairly negative with 2,474 falling stocks v/s 1,600 gainers

 

3:45 PM

Stock Market Highlights LIVE Updates: BSE Metal index rallies over 2%; NALCO zooms 9%

 

3:43 PM

Stock Market Highlights LIVE Updates: BSE IT index sinks 2.3%; TCS, Infy weigh

3:41 PM

Stock Market Highlights LIVE Updates: Broader indices end on mixed note; India VIX rises 3%

3:39 PM

Stock Market Highlights LIVE Updates: TCS, Infy lead Sensex fall with up to 3% drop; Tata Steel shines

 

3:37 PM

Closing Bell: NSE Nifty setlled with a loss of 79 pts at 23,454

The Nifty 50 index settled with a loss of 79 points at 23,454.

3:35 PM

Closing Bell: BSE Sensex ends 241 pts lower at 77,339

The BSE Sensex ended 241 points lower at 77,339 on Monday.

3:15 PM

Stock Market LIVE Updates: Anupam Rasayan share price slips 3% on weak Q2 show; profit tanks 37% YoY

Stock Market LIVE Updates: Shares of specialty chemicals company Anupam Rasayan India fell 2.87 per cent to Rs 713.45 on the BSE during intra-day trade on Monday, November 18, 2024. The fall in stock price follows the company's announcement of its quarterly earnings for the second quarter of the current fiscal year. Anupam Rasayan announced on November 14 that its profit after tax (PAT) dropped 37.16 per cent year-on-year to Rs 30.6 crore in Q2FY25 compared to Rs 48.7 crore in Q2FY24. READ MORE

 

3:03 PM

Stock Market LIVE Updates: Alexander Redman of CLSA on CLSA downgrading China and raising India

Stock Market LIVE Updates: Alexander Redman of CLSA, says going into next year based on our current projections, we're looking at low double digit upside for India in dollar terms.

India has recently become a poster child for FX stability in EMs.

After the re-election of Donald Trump, the rupee has held firm significantly better than its EM peers.

On a dollar for dollar basis, that is a significant advantage for this market vesrus others.

2:59 PM

Stock Market LIVE Updates: Alexander Redman of CLSA on CLSA downgrading China and raising India

Stock Market LIVE Updates: Alexander Redman of CLSA, says We're in a bit of an air pocket in terms of Indian earnings.

Forecasts, although, are relatively robust; for CY 25 and 26, we're looking at around mid-teens earnings. The consensus revisions are relatively flat. 

The one attractive part of analysing Indian earnings is the very strong relation with GDP. 

Given our current economic projections, we're quite comfortable with the outlook for earnings. I see this air pocket as relatively temporary. 

Trying to time that might be hostage to fortune.

On valutaions, you've already seen the overall aggregate numbers begin to soften to somewhat palatable level.

To characterise the reluctance of foreign investors to engage in India boils down to Valuation, Valutaion, Valuation. 

2:52 PM

Stock Market LIVE Updates: Alexander Redman of CLSA on CLSA downgrading China and raising India

Stock Market LIVE Updates: Alexander Redman of CLSA, says it's going to be a far more challenging environment for EMs under a Trump administration, compared to a Harris administration.

2:49 PM

Stock Market LIVE Updates: Alexander Redman of CLSA on CLSA downgrading China and raising India

Stock Market LIVE Updates: Alexander Redman of CLSA, says historically, there has been a striking relation between net foreign purchases of EM equities and US' YoY performance momentum.

Ultimately, the fortunes of EM equities are dictated by the appetite of large global crossover funds. If that money is repatriated back to the US, we'll feel that across EMs, but some will feel it more than others. 

India almost acts like a moat, with its 17.5% foreign ownership, and the SIPs inflows that are breaking all-time records; last month, they went above $3 billion last month. These more than compensate the FII exodus.

2:42 PM

Stock Market LIVE Updates: Alexander Redman of CLSA on CLSA downgrading China and raising India

Stock Market LIVE Updates: Alexander Redman of CLSA, says Another key risk, which is idiosyncratic for India, is the uptick in issuance in the year-to-date period.

If you express this as a percentage of market cap, in the last four cycles, when total primary and secondary issuance has hit 1.5% of total market, that's when the secondary market has begun to roll over.

The key risk is that we are approaching the same tipping point. I would expect the momentum of Indian equities in absolute YoY terms to begin to slow down in sympathy with that.

But ultimately this is a relative call, and I think India is capable of outperforming China.

 

2:38 PM

Stock Market LIVE Updates: Alexander Redman of CLSA on CLSA downgrading China and raising India

Stock Market LIVE Updates: Alexander Redman of CLSA, says If you order EMs according to sensitivities to an adverse trade policy from the US, there are a few things you need to look at:

First is the level of tariffs; our understanding is 60% on China, but we don't know when they'll be implemented. Around 10% on other markets.

Next is trade exposure to the US, overall proportion of GDP to exports to the US.

Another point is the foreign holding in India at 17.5%, which is one of the lowest across EMs

If you combine these attributes, India on all of those measures somes out as least sensitive among EMs.

2:31 PM

Stock Market LIVE Updates: Alexander Redman of CLSA on CLSA downgrading China and raising India

Stock Market LIVE Updates: Alexander Redman of CLSA, says I reversed the tactical position that I built up in China at the end of September, due to three reasons.

1: Because of the re-election of Donald Trump complicates the China trade outlook due to potential tariffs

2: Found the MPC stimulus in the previous week to be somewhat underwhelming.

Was expecting the stimulus to be more targetted on consumption, and lead to further absorbtion of excess inventory in housing, and recapitalise banks.

3: With higher bond yields globally now, the PBOC will struggle to cut rates further.

Having been underwhelmed with Chinese performance over the last few weeks, have decided to reverse that tactical allocation towards China and put that money back towards India.

And this is the opportunity foreign investors have been waiting for.

2:25 PM

Stock Market LIVE Updates: Alexander Redman of CLSA on CLSA downgrading China and raising India

Stock Market LIVE Updates: Alexander Redman of CLSA, says investors have been telling him that this is precisely the opportunity foreign investors have been waiting for to build up their exposure to Indian equities. 

The markets has continued to outperform, and they've been nursing large underweight positions.

I see that the 12% selloff is sufficient to begin to encourage foreign investors to start to participate in Indian equities again.

2:22 PM

Stock Market LIVE Updates: Alexander Redman of CLSA on CLSA downgrading China and raising India

Stock Market LIVE Updates: Alexander Redman of CLSA, says $14 bn dollar worth of selling since the end of September

Initially the motivation was to participate in the rally in China, after the PBOC stimulus

Caught many foreign investors unawares, and made them liquidate positions in India and Korea, to participate in China Rally

 

2:19 PM

Stock Market LIVE Updates: APAR Industries to expand capacity for its Continuous Transposed Conductor biz

Stock Market LIVE Updates: APAR Industries today informed about the expansion of production capacity for its Continuous Transposed Conductor business to cater to increased demand available on account of focused prioritisation by Government in Power and Generation Equipment. 

"Post the expansion, the total annual production capacity for CTC will be 20,490 MT gradually by the 3Q FY26 which will be 3x of current levels," the company said in an exchange filing.

The company plans to invest Rs 72.55 crore to expand CTC capacity from 7,350 MT per annum currently to 20,490 MT per annum by Q3 FY26, it added.

Further, the company plans to add 5,160 MT per annum capacity between November 2024, to March 2025.

 

2:11 PM

Stock Market LIVE Updates: Enviro Infra Engineers IPO opens on Nov 22: Check GMP & other key details

Stock Market LIVE Updates: Enviro Infra Engineers, a leading player in water and wastewater treatment solutions, is gearing up for its much-anticipated initial public offering (IPO), set to open for public subscription on Friday, November 22, 2024. According to the company's red herring prospectus (RHP), bidding for anchor investors will precede this, commencing on Thursday, November 21, 2024.  

Meanwhile, the grey market premium (GMP) of Enviro Infra Engineers remained at nil as of Monday, November 18, 2024. READ MORE

 

2:01 PM

Stock Market LIVE Updates: 2 PM market update - Sensex, Nifty pare losses; still in negative zone

Stock Market LIVE Updates: Indian benchmark equity indices BSE Sensex and Nifty 50 had pared some losses, but were still trading in negative territory, amid mixed global cues.

At 2 PM, the BSE Sensex was down 139 points, or 0.18 per cent, at 77,441, while the Nifty 50 was at 23,489, down 42 points, or 0.18 per cent.

 

1:52 PM

Stock Market LIVE Updates: Suzuki & Tata Elxsi launch ‘SUZUKI-TATA ELXSI Offshore Development Center' in Pune

Stock Market LIVE Updates: Suzuki Motor Corporation and Tata Elxsi today anounced that together, they've inaugurated the ‘SUZUKI-TATA ELXSI Offshore Development Center’ in Pune, India. 

This dedicated center will drive Suzuki’s innovations in advanced engineering, the company said in an exchange filing.

Tata Elxsi will support Suzuki in its green mobility vision by aligning with Suzuki’s goals for sustainable innovation in lightweight design, safety, styling and engineering, eco-friendly materials, and advanced simulations to improve time-to-market, the company added. 

The partnership will also focus on next-generation powertrains and software-defined vehicles, fostering energy-efficient solutions for electric, hybrid, and alternative fuel vehicles, it said.

 

1:41 PM

Stock Market LIVE Updates: NALCO, Hindalco, Vedanta surge up to 9% as China cancels export tax rebates

Stock Market LIVE Updates: Shares of National Aluminium Company (NALCO), Hindalco Industries and Vedanta have surged by up to 9 per cent on the BSE in Monday’s intra-day trade in an otherwise weak market after China said it would cancel export tax rebates.

 

As per media sources, China will be cancelling export tax rebates for aluminium and copper products, which will be effective from December 1, 2024. This has led to a surge in LME aluminium prices by 8 per cent, reaching $2,730 per tonne. READ MORE

 

1:28 PM

Stock Market LIVE Updates: Sobha share rallies 6% as Q2 profit climbs 75% YoY; check details here

Stock Market LIVE Updates: Shares of real estate developer Sobha Limited climbed up to 5.92 per cent to hit an intraday high of Rs 1,623 per share on Monday, November 18, 2024. 

 

The rise in Sobha share price came on the back of stellar show in the September quarter of financial year 2025 (Q2FY25). READ MORE

 

1:18 PM

Stock Market LIVE Updates: HCLSoftware appoints Vikrant Chowdhary as Senior VP & Country Head for India

Stock Market LIVE Updates: HCLSoftware, the enterprise software products unit of HCLTech, today announced the appointment of Vikrant Chowdhary as Senior Vice-President and Country Head for India.

In this role, Chowdhary will lead HCLSoftware’s India region business for growth and innovation across India's critical sectors, including Enterprise, BFSI, and Government segments, the company said in an exchange filing. 

 

1:13 PM

Stock Market LIVE Updates: Final Hours! BlackBuck IPO closes today: GMP flat; Should you subscribe?

Stock Market LIVE Updates: The initial public offering (IPO) of Zinka Logistics Solutions, the operator of digital logistics platform BlackBuck, will close for subscriptions today, Monday, November 18, 2024. The IPO, which opened for bidding on November 13, has received a lukewarm response from investors so far. 

As of 10:12 AM on Monday, bids were received for 78,60,888 shares against the total offer of 2,25,67,270 shares, resulting in a subscription of just 0.35 times, according to data from the National Stock Exchange (NSE). READ MORE

 

1:00 PM

Stock Market LIVE Updates: Oversold Alert: 5 stocks with RSI around 15; Colgate tests 20-year support

Stock Market LIVE Updates: With the benchmark indices - the BSE Sensex and the NSE Nifty 50, technically, having entered a correction zone following the over 10 per cent decline from the all-time highs, several stocks across too have witnessed a steep fall and now seem to be trading in oversold territory on the daily chart. READ MORE

12:53 PM

Stock Market LIVE Updates: SBI raises Rs 10,000 crore through 15-year infrastructure bonds at 7.23%

Stock Market LIVE Updates: State Bank of India (SBI) on Monday raised Rs 10,000 crore through 15-year infrastructure bonds at a coupon rate of 7.23 per cent, taking the total money raised through these long-tenor papers to Rs 30,000 crore in the current financial year, said multiple sources aware of the development. READ MORE

12:45 PM

Stock Market LIVE Updates: RIL, Tata Motors, Titan: Over 50% Nifty stocks trade below 200-DMA

Stock Market LIVE Updates: Nifty 50 index continued to trade below its 200-day moving average (DMA) on Monday, November 18, with as many as 27, or nearly 50 per cent stocks that comprise this index, too, trading below this crucial technical level, data suggests. READ MORE