Share Market News Today | Sensex, Nifty, Share Prices Highlights: Indian benchmark indices closed mild in the green amid weak Asian markets and mixed global cues. The BSE Sensex closed at 62,294, giving up the 63,000 level but ended 20 points higher. The NSE Nifty ended at 18,512, 0.15% up, while the Bank Nifty index lost 0.2% in trade today to close at 42,983. All sectors shifted between gains and losses. Nifty Media index gained the most, whereas Nifty Bank, Nifty FMCG, and Nifty Financial Services indices declined the most. In the broader markets, Nifty SmallCap 100 and Nifty MidCap 100 indices climbed up 1% and 0.9%. Coal India, Tata Motors, HDFC Life, RIL and Hero MotoCorp were among major gainers on the NSE Nifty index, while Britannia, Titan, Kotak Bank, Nestle India and ICICI Bank were the laggards.
Adani Enterprises, ICICI Bank, RIL, Tata Motors and Infosys were the most active stocks on Nifty 50 on Friday.
Coal India, Tata Motors, HDFC Life, RIL and Hero MotoCorp were among major gainers today, with HDFC Life ending 2.6% higher. Britannia, Titan, Kotak Bank, Nestle India and ICICI Bank were the laggards, with ICICI Bank ending 0.94% down.
The domestic indices closed mild in green on Friday. The BSE Sensex closed at 62,294, giving up the 63,000 level but ended 20 points higher. The NSE Nifty ended at 18,512, 0.15% up, while the Bank Nifty index lost 0.2% in trade today, to close at 42,983.
Sensex is up 18.58 points or 0.03% at 62291.26, and the Nifty added 17.50 points or 0.09% at 18501.60.
Multiplex operator PVR will open more superplexes and is looking at around 100-screen additions every year, said the company's Joint Managing Director Sanjeev Kumar Bijli. On Thursday, the exhibitor announced the opening of a superplex in Kerala's Thiruvananthapuram, in partnership with the Lulu Group. The 12-screen property is PVR’s fourth superplex. PVR shares were trading 2.5% higher
Sectoral indices Nifty Media and Nifty PSU Bank are trading in the green, both up over 1%. TV18 Broadcast (up 4.67%), Network 18 Media & Investments (up 3.9%) and Dish TV (up 3%) are leading the gains in the Nifty Media index.
Punjab National Bank (7.6%) , Indian Overseas Bank (up 5.2%) and Punjab & Sindh Bank (up 4%) are leading the gains in the Nifty PSU Bank index.
Gold and silver have benefited this week from shifting expectation that US Fed will slow the pace of rate hikes, after FOMC minutes were published. Markets have already priced in 50 bps rate hike from Fed this December.
Rationale-Gained market share in digital payments versus PayU-Company is trading at 5x FY24e EV/contribution profits -Acknowledge overhang risks from further selling by existing pre-IPO shareholders -Fintech is a competitive space but at these valuations, risks are overdone
The positive global developments led to a firm start in our equity market, and gradually the benchmark index kept surging upward on the expiry session. The broad-based buying has uplifted the overall market sentiments, which certainly portrays the urge of the bulls of D-Street while favorable conditions. The Nifty 50 index finally concluded Thursday at a 52-week high with gains of 1.19 percent, a tad below the 18500 level.
Punjab National Bank has received approval of DIPAM, Ministry of Finance, for divestment of stake in UTI Asset Management Company in single or multiple tranches. As of now, PNB holds 15.22% stake in UTI AMC. The objective is to realise gain on investment. Punjab National Bank shares jumped 7% intraday.
Shares of Larsen & Toubro (L&T) gained 1% and hit an all-time high of Rs 2,079.60 on the BSE in intra-day trade on strong order prospects. The stock of the engineering & construction company has surpassed its previous high of Rs 2,078.20, touched on 18 January 2022. In comparison, the S&P BSE Sensex was down 0.06%.
Tube Investments shares jumped 3 per cent after the company acquired a 50% stake in X2Fuels and Energy, an early-stage start-up incubated at the National Centre for Combustion Research and Development (NCCRD) at IIT Madras.
Uniparts India, a manufacturer of engineered systems and solutions, has fixed the price band for its initial public offering at Rs 548-577 per share. The IPO will open for bidding on November 30 and close on December 2. The issue will see the sale of more than 1.44 crore shares by promoters and investors.
All sectors shifted between gains and losses. Nifty PSU Bank index gained the most, whereas Nifty IT, Nifty Media, and Nifty Metal indices declined the most. In the broader markets, Nifty SmallCap 100 and Nifty MidCap 100 indices climbed up to 0.4%
Larsen and Toubro, Apollo Hospitals, HDFC Life, Axis Bank and Hero MotoCorp were among major gainers on the Nifty, while Power Grid Corporation, BPCL, ONGC, Adani Enterprises and Cipla were the laggards.
After touching an all time high on Thursday, the BSE Sensex index shed some of its previous day's gains to open in the red today. The index is currently trading at 62,195, down 0.1% from yesterday's record closing high. The NSE Nifty 50 index also gave up the 18500 level it hit in the preopen session, and is currently trading in the red at 18,458, 0.1% down.
“Many favourable factors have come together to push the markets to record levels: the FOMC minutes indicating smaller rate increases, the sharp correction in crude, FIIs turning buyers, reports of impressive credit growth and capex revival and even the bad news of record Covid spread in China is turning out to be good news for India since it will accelerate the China Plus One policy. Nifty breaking the previous record high of 18,604 is only a question of time. The significant feature of this rally is that it is driven by heavy weights like HDFC Bank, ICICI Bank, HDFC, Infy, TCS, HCL Tech and RIL which have strong fundamentals and this makes the rally healthy. But the market is unlikely to surge from the record highs since the valuation headwind will act as a restraint. Vast majority of retail investors, particularly the newbies, have missed out on this rally since their portfolios are largely mid-and small-cap oriented. As of now, the possibility of the rally spreading to the broader market is limited.”-VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services
Benchmark indices are trading firm in the pre-opening session. Sensex was up 51.19 points or 0.08% at 62323.87, and the Nifty was up 87.60 points or 0.47% at 18571.70.
Asian Paints (PREVIOUS CLOSE: 3115) BUY
For today’s trade, long position can be initiated in the range of Rs 3080- 3100 for the target of Rs 3150 with a strict stop loss of Rs 3060.
Balkrishna Industries (PREVIOUS CLOSE: 1975) BUY
For today’s trade, long position can be initiated in the range of Rs 1950- 1960 for the target of Rs 2010 with a strict stop loss of Rs 1940.
LIC Housing Finance (PREVIOUS CLOSE: 371) BUY
For today’s trade, long position can be initiated in the range of Rs 366- 370 for the target of Rs 377 with a strict stop loss of Rs 364
“Bank Nifty ended on a positive note for straight second expiry, wherein the index rose to life-time-high and registered gain of 4.3%. On very last trading session of Nov’22 series, the index extended gain after surpassing its crucial 43,000-level. The key technical indicators are positively poised on the daily as well as hourly timeframe charts. As mentioned earlier, this could take the index towards 43,500-level. On the lower side, now the index will found support at around 42,780-level, which coincides with its 20-period EMA on the hourly chart. As for the day, support is placed at around 42,842 and then at 42,609 levels, while resistance is observed at 43,236 and then at 43,397 levels.”-Reliance Securities
“Continuing its prior rising trend, NIFTY-50 reported rise of 4.2% in the Nov’22 series. On very last trading session of the series, the index extended gain post surpassing its near-term hurdle of 18,300-mark and rose to life-time-closing-high. Overall market breadth remained bullish, while major sectors ended on a positive note. Due to such a sharp up-move, the key technical indicators turned positive on the short-term timeframe chart, while its near-term indicators are in favor of the bulls. This could take the index towards 18,600-18,750-19,000-levels. In case of any decline, as per the change in polarity principle, now the index will find support around 18,300-level. As for the day, support is placed at around 18,342 and then at 18,201 levels, while resistance is observed at 18,578 and then at 18,671 levels.”-Reliance Securities
“Benchmark Indices are expected to open on a slight negative note today as suggested by trends on SGX Nifty. Some stock-specific actions can be witnessed in stocks such as Veranda Learning , Fino Payments Bank, PB Fintech, Hariom Pipe Industries. On the technical front, immediate support and resistance in Nifty 50 are 18300 and 18600 respectively. Bank Nifty immediate support and resistance are 42500 and 43500 respectively.”-Mohit Nigam, Fund Manager & Head – PMS, Hem Securities
Indian benchmark indices have inched upwards so far this year, despite global and domestic headwinds. BSE Sensex and Bank Nifty have hit fresh highs while NSE Nifty 50 index has climbed over 4 per cent so far in 2022 and is just 100 odd points shy of hitting its all-time high. India is amongst the best-performing markets globally due to strong domestic demand, robust festival season, waned covid impact, and expectations of a prolonged capex cycle, according to analysts at Parbhudas Lilladher. They remain positive on the Indian share market and suggest accumulating fundamentally strong companies in uncertain times. According to the domestic brokerage firm, urban discretionary spends remain strong and indicate strong benefit due to economic revival and demographic dividend in the coming few years.
“Investors wound up their short positions on the expiry day, triggered by US Fed minutes indicating a moderate pace of rate hikes going ahead that eventually propelled benchmark indices Sensex & Nifty to new all-time highs. Other positive catalysts such as the WTI crude oil prices staying sluggish and the falling US Dollar index and yields improved the risk appetite of investors leading to a broad-based buying. As long as the Nifty holds the support of 18400, there are chances it could hit 18600-18700 levels. On the other hand, below 18400 the uptrend would be vulnerable,”-Shrikant Chouhan, Head of Equity Research ( Retail), Kotak Securities Ltd
“Nifty started higher and extended gains during the day. The daily momentum indicator RSI remains in a positive crossover. The trend looks positive as long as it sustains above 18350 Going forward, 18350 may provide immediate support. On the higher end, resistance is visible at 18650, above which Nifty may move up further.”-Rupak De, Senior Technical Analyst at LKP Securities
“Technically, Nifty has maintained its cycle of higher highs – higher lows and decisively breached its previous swing high on the daily chart. On the level front, the 18200-18300 level is expected to provide a cushion to any minor decline from the ongoing up move. At the same time, the index is well-versed to reclaim the lifetime high zone and enter uncharted territory in a comparable period. There have been contributions across the board, wherein the significant benefactors that boosted the bullish sentiments were from the Technology and BFSI space. Also, the broader end of the spectrum did exceptionally well, which we believe to continue in the coming sessions. Ideally, we expect the index to keep up its momentum and any sort of blip to be considered as a buying opportunity for the coming sessions.”-Osho Krishan, Sr. Analyst – Technical & Derivative Research, Angel One
Bank Nifty November rollover stands at 88.19% on Thursday compared to 76.73% on the same day of previous expiry which is higher than its Three months average of 80.7% and higher than its six months average of 82.88%. There was addition of 4.08 Lac shares and Nifty started the December expiry with 32.92 Lac share compared to 18.92 Lac shares of October Expiry.-Rajesh Palviya, Vice President – Research ( Head Technical & Derivatives), Axis Securities
The Nifty November rollover stands at 81.91% on Thursday compared to 76.05% on the same day of previous expiry, wherein there was addition of 4.08Lac shares and Nifty started the December expiry with 121.93Lac share compared to 117.85 Lac shares of October Expiry. The Market wide November rollover stands at 91.64% on Thursday as compared to 92.05% on the same day of previous expiry. The rollover cost of Nifty in the November series stands at 0.9 on Thursday compared to 0.38 on the same day of previous expiry. The Nifty November rollover is higher than its three month average of 78.81% and higher than its six months average of 77.63% as on today. The market wide rollover is higher than its three months average of 90.86% and higher than its six months average of 91.31%.-Rajesh Palviya, Vice President – Research, Head Technical & Derivatives, Axis Securities
Bulls may remain laid back on the week’s last trading day as trends in the SGX Nifty hinted at a flat to negative opening for the Indian share market. Nifty futures traded 41 pts down at around 18,626 levels on the Singapore Exchange. In the previous session, BSE Sensex jumped 762 points to 62,273, while NSE Nifty 50 rose 217 points to 18,484. “Markets have reclaimed buoyancy and we expect the tone to continue however participants shouldn’t go overboard and continue with selective buying. The banking and IT pack look firm to us while others are seeing a mixed trend. We reiterate our preference for index majors and quality midcaps and suggest focusing more on overnight risk management,” said Ajit Mishra, VP – Technical Research, Religare Broking.
Shares in the Asia-Pacific traded mixed as investors digest economic data from the region, including Tokyo’s consumer price index and Singapore’s final gross domestic product readings. Markets in the US were closed for the Thanksgiving holiday and will close early on Friday. In Australia, the S&P/ASX 200 in Australia rose 0.15%. The Nikkei 225 fell 0.32% and the Topix also fell 0.21%. In South Korea, the Kospi fell 0.22%.
Trends in the SGX Nifty hinted at a flat to negative opening for the Indian share market. Nifty futures traded 41 pts down at around 18,626 levels on the Singapore Exchange.