Share Market News Today | Sensex, Nifty, Share Prices Highlights: The domestic indices BSE Sensex and NSE Nifty hit fresh record highs intraday. Nifty topped the 18,800 level, hitting a new record high of 18,816.05, up 1% before ending the session at record closing high of 18,758.35. The BSE Sensex surged over 500 points or 1% in trade to surpass the 63,300 level. The index hit a record high for the fifth session in a row at 63,303.01 before closing at 63,099.65. The broader markets also closed in the green, as Nifty Smallcap 100 was up 0.6% and Nifty Midcap 100 ended 1% higher. All sectoral indices ended positively, barring Nifty PSU Bank which was 1.23% down.
Investors are eyeing India’s Q2 GDP numbers set to be announced later in the day by the Finance Ministry. US Fed chairman, Jerome Powell’s speech at the Brookings Institution will also be keenly watched where Powell is expected to talk about the evolving markets and changing economy. Traders will keenly look to the Chair’s speech to see if the ongoing hawkish stance is reiterated or if the Fed turns dovish for cues related to further rate hikes. Uniparts India IPO opened for subscription today.
M&M, Hindalco, Grasim, SBI Life and UltraTech Cement were the top gainers on the NSE Nifty 50 index today. Only four stocks from the index closed in the red; IndusInd Bank, SBI, HCL Tech and ITC were the day's biggest laggards.
Domestic indices Nifty and Sensex surged in trade today to hit fresh record highs. Sensex rose to new highs for the fifth day in a row, topping the 63,300 level and hit 63,303.01 intraday. The index closed 400 points up, at 63,099. Nifty hit a record high of 18,816.05 before ending the session over 50 points lower at 18,758.35.
As the BSE Sensex index hit a record high for the fifth session, Reliance Industries, HDFC twins, ICICI Bank, Hindustan Unilever and Infosys contributed the most to the index's gains.
The BSE Sensex surges over 400 points in trade to surpass the 63,000 level. The index hit a record high for the fifth session in a row at 63,166.48.
Nifty tops the 18,700 level, hitting a new record high of 18,763.7, up 0.78%.
The BSE Sensex hits a record high for the fifth straight session. The index jumped over 200 points to hit an intraday record high of 62,909.64.
The Nifty Metal index rises over 1% in trade today, with Jindal Steel, Hindalco, JSL and SAIL as the biggest gainers.
Zomato shares rallied over 5% intraday after reports suggested that Chinese giant Alibaba was going to sell 3.5% of their stake in Zomato, which would fetch them over $200 million. The stock was last trading over half a percent higher at Rs 64.05.
The Nifty PSU Bank index is down over 1% and Central Bank, UCO Bank, Union Bank and Canara Bank are the biggest laggards.
Uniparts India IPO opened for subscription on Wednesday and concludes on Friday, 2 December. The price band for the IPO has been fixed at Rs 548-577 per share. Ahead of the IPO, the company raised Rs 251 crore from anchor investors. The IPO is entirely an Offer for Sale (OFS) of 14,481,942 equity shares by promoter group entities and existing investors.
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“Crude prices on Tuesday recovered from their lows, as both the benchmark indices concluded on a higher note. However, Brent ended a little unchanged, whereas, NYMEX ended with gains of over a percent. Gains were supported by declining US crude inventories, although the upside was constrained by worries that OPEC+ would maintain its current output policy at its upcoming meeting. We expect crude to trade higher towards 6590 levels, a break of which could prompt the price to move higher to 6720 levels.”
– Prathamesh Mallya, AVP – Research, Non-Agri Commodities and Currencies, Angel One
“Generally, when benchmark index makes a new high, we get to see flamboyant moves in most of the heavyweight as well as mid and small cap counters but such convincing moves are clearly missing. Hence, in our sense, if broader market has to shine, we must surpass 18700 with some authority and ideally the close has to be at the highest point of the session; which is an indication of a strong buying interest.
Hence, for the coming session, it’s important to keep a close tab on this scenario. As far as levels are concerned, 18700 – 18750 are to be seen as immediate junctions; whereas on the flipside, 18500 followed by 18400 becomes a strong demand zone.
Traders are advised to continue with an optimistic approach and should look to identify potential themes which are likely to provide better trading opportunities.”
– Sameet Chavan, Chief Analyst-Technical and Derivatives, Angel One
Gold rate was positive on Wednesday as a result of positive global trends, while silver rate was up 0.4%. On Multi Commodity Exchange, gold December futures were trading at Rs 52,540 per 10 grams, up Rs 232 or 0.4%. Silver December futures were trading Rs 264 up at Rs 61,415 per kg on MCX.
“The pull back yesterday in the second half may have helped shake off the weakness that has crept in after prolonged upsides in the last few days which had begun to show as negative divergences, as discussed yesterday. This allows Nifty to continue on the 18,800-19,000 trajectory, without much of a drama. This also encourages us to keep the downside marker in the 18,500 vicinity for the opening moves, and move it higher as the day progresses.”
– Anand James, Chief Market Strategist, Geojit Financial Services
“An important feature of the ongoing rally which has taken the Sensex and Nifty to record highs is that this is a mature rally led by high quality stocks in performing sectors. There is no celebration in the market because this rally has largely bypassed the broad market. While the Nifty is up 7.2 % YTD, the Nifty Small cap Index is down by around 12% YTD. So, the vast majority of retail investors whose portfolios are predominantly small cap oriented, have not benefited from this rally.
This experience also underlines the importance of investing in quality stocks. Since the valuations are elevated from a near-term perspective, there is no scope for the rally to continue unabated. Profit booking and DII selling at higher levels can trigger corrections.”
– V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services
The domestic indices lose some of their previous day gains as they are trading lower during the pre-open session. The NSE Nifty is 0.2% in the red at 18,579 while the BSE Sensex is lower by over 200 points at 62,491.
Punjab National Bank (PNB), BHEL, Delta Corp and Indiabulls Housing Finance are the four securities under the NSE F&O ban list for 30 November. Securities thus banned under the F&O segment include companies where derivative contracts have crossed 95% of the market-wide position limit.
Foreign institutional investors (FIIs) net bought shares worth Rs 1,241.57 crore, while domestic institutional investors (DIIs) net offloaded shares worth Rs 744.42 crore on 29 November, according to the provisional data available on the NSE.
Uniparts India will be the last IPO to open for subscription in November. The public issue will open today, and the bidding will continue till 2 December. The company has fixed a price band of Rs 548-577 per share. The IPO is an offer-for-sale (OFS), and is expected to fetch Rs 835.6 crore to the selling promoters and investors at the upper end of the price band.
Overnight in the U.S., major indexes ended the session lower. The S&P 500 declined 0.16% to end the session at 3,957.60 points. The Nasdaq declined 0.59% to 10,983.78 points, while Dow Jones Industrial Average rose 0.01% to 33,852.13 points.
Shares in Asia were mixed on Wednesday. Hong Kong’s Hang Seng index traded 0.93% higher, while China’s Shanghai Composite fell 0.16%. Japan’s Nikkei 225 fell 0.6%, while South Korea’s Kospi reversed losses to rise 0.51%.