Stock Market Highlights: Sensex holds 80k, ends 100 pts down; Ratings downgrade jolt Adani shares

Stock Market Close Highlights: The NSE Nifty 50 index slipped below 24,200; Small-cap stocks outperformed the broader market, with the Nifty Smallcap100 closing 0.8 per cent higher on Tuesday.

BSE, NSE, Indian share market, Stock market

(Photo: Bloomberg)

Stock Market Highlights, Tuesday, November 26, 2024: Benchmark equity indices ended their two-day winning streak, closing Tuesday's session in negative territory. The BSE Sensex shed 105.79 points or 0.13 per cent to settle at 80,004.06. The index traded within a range of 80,482.36 to 79,798.67 during the session.

Similarly, the NSE Nifty50 settled 27.40 points or 0.11 per cent lower at 24,194.50, after reaching an intraday high of 24,343.30.

Adani Group shares posted losses of up to 7 per cent after rating agencíes Fitch and Moody's downgraded the outlook on several Group companies to 'Negative'. Adani Green and the flagship firm Adani Enterprises were worst hit.

Out of the 50 constituent stocks of Nifty50, 27 ended in the red, dragged down by Adani Enterprises, Adani Ports, Ultratech Cement, Bajaj Auto, and Sun Pharma, with losses extending up to 4.02 per cent. Conversely, Shriram Finance, Britannia Industries, Asian Paints, Bharat Electronics, and Infosys were among the 23 gainers, with gains extending up to 3.26 per cent.

Small-cap stocks outperformed the broader market, with the Nifty Smallcap100 index closing 0.82 per cent higher. The Nifty Midcap 100 index, on the other hand, settled flat on Tuesday.

Sectoral indices ended on a mixed note. Nifty IT, FMCG, and Media led the gains, while Auto, Pharma, Healthcare, and OMCs indices ended in the red.

4:04 PM

Stock Market Highlights LIVE Updates: 24,350 will act as strong resistance for Nifty in short term

Nifty opened with a gap up, but the index then saw profit booking and settled the day on a negative note at 24,195, while Nifty Smallcap 100 outperformed Nifty, closing 0.82 per cent higher.

Technically, on a daily chart, Nifty has formed a bearish belt hold pattern, signifying weakness. According to this pattern, 24,350 will act as strong resistance for the index in the short term. On downside, 21-Days exponential moving average (DEMA) is placed near 24,070.

Thus, 24,070 will provide immediate support for the index followed by psychological support of 24,000. Overall short-term trend is up, but as long as index persists below 24,350, traders should focus on booking profits and wait for fresh breakout.

Bank Nifty opened with a gap up, witnessed profit booking, and settled the day on a flat note at 52,192 levels. Technically, the Bank Nifty failed to cross the major barrier of 52,500-52,580 and formed a bearish belt hold pattern, indicating weakness. As per this pattern, as long as index maintains below 52,580 weakness will continue. Thus, traders are advised to book profits and wait for a fresh breakout above 52,580.

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

4:01 PM

Stock Market Highlights LIVE Updates: In the short term, Nifty50's trend remains positive

Nifty remained range bound for the second consecutive session, confined between the 21 EMA and the 55 EMA. In the short term, the trend remains positive, with a "buy-on-dips" strategy favoring traders. On the lower end, 23,950–24,000 might act as crucial support levels, while 24,500 could act as a key resistance level. A decisive move above 24,500 might trigger a further sharp rally.

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

3:47 PM

Stock Market Highlights LIVE Updates: Shriram Finance, Britannia, Asian Paints gain on NSE

Shriram Finance, Britannia, Asian Paints gained on NSE among others.

3:44 PM

Stock Market Highlights LIVE Updates: Nifty IT, FMCG lead among sectors

Among sectors, Nifty IT, Nifty FMCG and Nifty Media led gains on Tuesday.

3:41 PM

Stock Market Highlights LIVE Updates: Broader indices close in green

The BSE SmallCap index closed 0.62 per cent higher, while the BSE MidCap index rose 0.10 per cent.

3:37 PM

Stock Market Highlights LIVE Updates: 16 out of 30 stocks close in red

Ultratech Cement, Adani Ports, Sun Pharma and NTPC were the top losers on the BSE Sensex.

3:35 PM

Stock Market Highlights LIVE Updates: Nifty50 finishes below 24,200

NSE's Nifty50 closed at 24,194 level, down 27 points or 0.11 per cent.

3:32 PM

Stock Market Highlights LIVE Updates: Sensex ends 100 pts down

The BSE Sensex closed at 80,004 level, down 105 points or 0.13 per cent.

3:20 PM

Stock Market LIVE Updates: Here's why Krystal Integrated Services shares zoomed 7% on Tuesday

Stock Market LIVE Updates: Shares of diversified commercial services provider Krystal Integrated Services zoomed 6.33 per cent to the day's high of Rs 789.25 on the National Stock Exchange during intra-day trade on Tuesday. The northward move in the company’s stock price came following news that it had been awarded a significant contract worth around Rs 106.29 crore (inclusive of all applicable taxes and duties) from the Brihanmumbai Municipal Corporation (BMC). READ MORE

3:09 PM

Stock Market LIVE Updates: Angel One gets SEBI nod to launch Mutual Fund business

Angel One has officially received approval from the Securities and Exchange Board of India (SEBI) to begin its mutual fund operations.

3:04 PM

Stock Market LIVE updates: 3 PM market update

At 3 PM, the BSE Sensex was trading at 80,026.38, down 83.47 points or 0.10 per cent, while the NSE's Nifty50 stood at 24,196.05, down 25.85 points or 0.11 per cent.

3:02 PM

Stock Market LIVE Updates: Moody's revises outlook on 7 Adani group stocks to negative

According to reports, global credit rating agency Moody's revised its outlook on 7 Adani group stocks to negative.

2:52 PM

Stock Market LIVE Updates: Nifty IT, FMCG lead among sectors

Nifty IT, Nifty FMCG and Nifty Media indices led gains among sectors on Tuesday.

2:44 PM

Stock Market LIVE Updates: This Vijay Kedia portfolio stock nears summit; zooms 14% in subdued market

Shares of Siyaram Silk Mills hit an over six-year at Rs 788, as they zoomed 14 per cent on the BSE in Tuesday’s intra-day trade in an otherwise subdued market amid heavy volumes on expectations of strong earnings. The stock price of this smallcap company surpassed its previous high of Rs 743.05 touched on November 8, 2024. It was trading at its highest level since December 2017. It had hit a record high of Rs 799 on December 11, 2017. Read more

2:35 PM