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)

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.

 

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

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

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.

>> Dapagliflozin Tablets (RLD Farxiga) had estimated annual sales of $7,282 million in the US (IQVIA MAT September 2023). 

 

3:11 PM

DCX Systems hits new high; stock zooms 27% in 1 week on fund raising plan

Shares of DCX Systems surged 14 per cent to a new high of Rs 364.40 on the BSE in Tuesday’s intra-day trade on heavy volumes. READ MORE

3:03 PM

Global Check:: US stock futures exhibit lacklustre trend

Source: Investing.com

2:52 PM

ALERT:: TVS Motor launches TVS NEO AMI 125 in Africa; stock up 0.4%

TVS Motor Company today announced the launch of TVS NEO AMI 125 in Africa. Designed for evolving commuting needs, this innovative Bebek is set to delight customers with 72 exciting, new features, the company said in an exchange filing.

2:41 PM

ED issues notice to Byju's for violation of forex rules, firm denies

The agency has alleged violations by the company worth Rs 9,000 crore ($1.1 billion) under the Foreign Exchange Management Act (FEMA), the television channel reported. READ MORE

2:32 PM

ALERT:: ICICI Bank Rs 5,500 cr infra bonds get 'CRISIL AAA/Stable' rating; stock up 0.4%

CRISIL Ratings has assigned its 'CRISIL AAA/Stable' ratings to Rs 5,500 crore infrastructure bonds of ICICI Bank and reaffirmed its ‘CRISIL AAA/CRISIL AA+*/Stable’ rating on the existing reaffirmed debt instruments of the bank; the bank informed in an exchange filing.