Markets snap 2-day losing run; Sensex rises 276 pts, Nifty nears 19,800
Closing Bell on Tuesday, November 21: Among sectors, the Nifty Metal index rallied 1.22 per cent, followed by the Nifty Realty (1.13 per cent), and the Nifty Media (1.12 per cent)
 "BSE")
Photo: Bloomberg
Stock market highlights: Benchmark indices snapped their 2-day losing run as gains in heavyweights like Titan Company, Reliance Industries, HDFC Bank, ICICI Bank, Airtel, and Tata Steel supported sentiment.
The S&P BSE Sensex added 276 points, or 0.42 per cent, to end at 65,931 levels, while the Nifty50 shut shop at 19,783, higher by 89 points or 0.45 per cent.
SBI Life, HDFC Life, Adani Enterprises, Hindalco, and Divis Labs were the additional gainers on the 50-pack index. All these shares advanced between 1 per cent and 2.7 per cent.
In the broader market, the indices extended their winning run but underperformed the frontline peers. The BSE MidCap and SmallCap indices closed 0.14 per cent and 0.20 per cent higher, respectively.
Among sectors, the Nifty Metal index rallied 1.22 per cent, followed by the Nifty Realty (1.13 per cent), and the Nifty Media (1.12 per cent). On the downside, the Nifty PSU Bank index fell 0.35 per cent.
4:09 PM
Tech View :: 'Nifty Bank's structure to become weak below 43,400'
Nifty50
On the daily charts, we can observe that since last four trading sessions, the Nifty is trading within the range 19,875 – 19,627. On the downside, the Nifty is trading above the zone of 19,650 – 19,600 where multiple support parameters in the form of the 40-hour moving average and the lower end of the rising channel is placed.
Thus, in case of a dip, this zone should act as a support, and we expect the Nifty to hold on to this zone and head higher over the next few trading sessions.
The hourly momentum indicator has a positive crossover. However, the Nifty is not breaching the range and once it does that, we can expect it to gain momentum.
Until then, the range bound price action is likely to continue. In terms of levels, 19,610 – 19,650 is the crucial support zone while 19,900 – 19,930 is the immediate resistance zone.
On the daily charts, we can observe that since last four trading sessions, the Nifty is trading within the range 19,875 – 19,627. On the downside, the Nifty is trading above the zone of 19,650 – 19,600 where multiple support parameters in the form of the 40-hour moving average and the lower end of the rising channel is placed.
Thus, in case of a dip, this zone should act as a support, and we expect the Nifty to hold on to this zone and head higher over the next few trading sessions.
The hourly momentum indicator has a positive crossover. However, the Nifty is not breaching the range and once it does that, we can expect it to gain momentum.
Until then, the range bound price action is likely to continue. In terms of levels, 19,610 – 19,650 is the crucial support zone while 19,900 – 19,930 is the immediate resistance zone.
Bank Nifty
Bank Nifty also consolidated and closed with a gain of 110 points. Intraday witnessed a dip however, it was bought indicating buying interest at lower levels. We expect the pullback to continue till 44,000 – 44,050 from short term perspective. Structure becomes weak below 43,400.
Views by: Jatin Gedia – Technical Research Analyst at Sharekhan by BNP Paribas
Views by: Jatin Gedia – Technical Research Analyst at Sharekhan by BNP Paribas
3:50 PM
Comment :: Here's why foreign flows might soon return to India
Today, the market exhibited positive momentum, with attention centred on the minutes of the latest Fed meeting.
The declining inflation and the recent cooling job data in the US provides foundation for a dovish comment from the Fed.
The drop in bond yields and the dollar index suggests mounting speculation regarding the potential peak in the interest rate cycle. This will attract funds to emerging markets.
The gain in the broad market was led by consumer durables and realty, thanks to a strong rebound in festive demand.
Views by: Vinod Nair, Head of Research at Geojit Financial Services
The declining inflation and the recent cooling job data in the US provides foundation for a dovish comment from the Fed.
The drop in bond yields and the dollar index suggests mounting speculation regarding the potential peak in the interest rate cycle. This will attract funds to emerging markets.
The gain in the broad market was led by consumer durables and realty, thanks to a strong rebound in festive demand.
Views by: Vinod Nair, Head of Research at Geojit Financial Services
3:47 PM
Currency check :: Rupee ends 1 paise weak
3:47 PM
SmallCap Heatmap :: Index ends 0.20% up; check top gainers and losers
3:45 PM
MidCap Heatmap :: Index ends 0.14% higher; check top gainers & losers of the day
3:44 PM
Sectoral trends :: Metal, Realty indices eke out most gains; PSBs weigh
3:43 PM
Sensex Heatmap :: Steel stocks, Titan, RIL lift index
3:42 PM
CLOSING BELL :: Nifty ends atop 19,750
3:39 PM
CLOSING BELL :: Sensex snaps 2-day losing run, gains over 250 pts
3:27 PM
ALERT :: Lupin receives tentative approval from USFDA for Dapagliflozin tablets
>> Lupin has received tentative approval from the United States Food and Drug Administration (USFDA) for its Abbreviated New Drug Application for Dapagliflozin Tablets, 5 mg, and 10 mg
>> It is a generic equivalent of Farxiga Tablets, 5 mg, and 10 mg of AstraZeneca AB.
>> This product will be manufactured at Lupin’s Pithampur facility in India.
>> It is a generic equivalent of Farxiga Tablets, 5 mg, and 10 mg of AstraZeneca AB.
>> This product will be manufactured at Lupin’s Pithampur facility in India.
>> Dapagliflozin Tablets (RLD Farxiga) had estimated annual sales of $7,282 million in the US (IQVIA MAT September 2023).
Topics : Stock Market MARKET LIVE MARKET WRAP Markets Sensex Nifty stock market trading Gift Nifty BSE smallcap BSE midcap Reliance Industries Jio Financial Services IPOs
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First Published: Nov 21 2023 | 7:23 AM IST