Share Market Highlights- Nifty settles above 20,050, Sensex over 66,900; Bank Nifty gains more than 600 points

Share Market Highlights: Nifty settles above 20,050, Sensex over 66,900; Bank Nifty gains more than 600 points

Share Market News Today | Sensex, Nifty, Share Prices Highlights:  The benchmark equity indices ended Wednesday’s trading session in the positive territory. The NSE Nifty 50 soars 206.90 points or 1.04% to settle at 20,096.60, while the BSE Sensex jumped 727.70 points or 1.10% to 66,901.91. The broader indices ended in positive territory, with gains led by Smallcap and Largecap stocks. Bank Nifty index jumped 685.50 points or 1.56% to settle at 44,566.45. Financial services and Auto stocks outperformed among the other sectoral indices while Realty, Media and Consumer Durables stocks shed. Axis Bank, Here MotoCorp, Mahindra & Mahindra, Wipro, and HDFC Banks were the top gainers on the NSE Nifty 50, while the laggards included Adani Enterprises, ONGC, Divis Labs, Nestle India, and Eicher Motors. The Indian Volatility Index (India VIX) closed down by 4.37 %.Live Updates

Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market News Live Updates

15:37 (IST) 29 Nov 2023 Markets at close

The NSE Nifty 50 soars or 1.04% to settle at 20,096.60, while the BSE Sensex jumped 1.10% to 66,901.91.

15:14 (IST) 29 Nov 2023 USD-INR Outlook

“USDINR CMP- 83.3325 (spot) Indian Rupee appreciated by 0.04% on Wednesday on positive domestic markets and FII inflows over the past three consecutive sessions. Domestic markets surged ~1%. However, a slight recovery in the US Dollar index and crude oil prices capped sharp gains. US Dollar declined for the fourth successive session on Tuesday on dovish comments from US Federal Reserve officials. Economic data from US however, remained mixed. We expect Rupee to trade with a slight negative bias on Dollar demand from importers towards end of the month. However, fresh foreign inflows and softness in US Dollar may support Dollar at lower levels. Traders may take cues from GDP data from US. Investors may also take cues from India’s GDP and fiscal deficit data towards the end of the month. USDINR spot price is expected to trade in a range of Rs 83 to Rs 83.60,” said Anuj Choudhary – Research Analyst at Sharekhan by BNP Paribas

14:42 (IST) 29 Nov 2023 Jubilant FoodWorks shares surge

Share price of Jubilant FoodWorks surged 3.52% to Rs 563.85 following the news that the company’s subsidiary Jubilant FoodWorks Netherlands BV (JFN) will buy an additional 51.16% stake in DP Eurasia for €73.35 million (Rs 670 crore).

14:23 (IST) 29 Nov 2023 Markets set to set to achieve more new milestones

“Overall the markets are in a very healthy with broader markets also participating. In fact the mid and small caps stocks have outperformed their larger peers in current rebound. On the flows front we have seen FIIs coming back strongly in past weeks and have now turned positive for the month. Domestic flows continues to remain strong which adds much needed cushion to global volatility. In terms of out look, do not see any immediate short term risks to the markets. Sharp fall in crude oil recently if sustins to be positive for the markets. In long term, Indian economy and markets are in a sweet spot currently and set to achieve more new milestones ahead,” said Narendra Solanki, Head – Fundamental Research, Anand Rathi Shares & Stock Brokers.

12:48 (IST) 29 Nov 2023 Active stocks

IREDA, Adani Power, HDFC Bank, Zomato and Adani Energy Solutions are the most active stocks on the NSE during the intra-day trade on Wednesday.

12:27 (IST) 29 Nov 2023 Zomato shares soar

Share price of Zomato soared 4.09% to Rs 118.45 following the news that Chinese payments group Alipay plans to sell its 3.4% stake in the food delivery giant for nearly $400 million through block deals on Indian stock exchanges.

12:11 (IST) 29 Nov 2023 BHEL Soars

Share price of BHEL soared 5.47% to Rs 164.6 following the news that the company has signed a Memorandum of Cooperation (MoC) with Electricité de France S.A., France (EDF), a French state-owned company and largest nuclear operator worldwide to explore the opportunity to maximize the local content of the Jaitapur Nuclear Power Plant Project (6×1650 MWe) to be established by NPCIL in India.

11:04 (IST) 29 Nov 2023 Markets so far

(Source: NSE)

10:39 (IST) 29 Nov 2023 IT, Oil & Gas stocks shine

The IT and Oil & Gas indices are leading the gains among the sectoral indices, having surged by 1.37% and 1.03%, respectively.

10:34 (IST) 29 Nov 2023 IREDA sees bumper debut

IREDA shares listed at 56.25 % premium over IPO price on bourses amid a bullish domestic market. The share debuted at Rs 50 on the NSE as well as on the BSE, surpassing the issue price of Rs 32. The investors have made a profit of Rs 18 per share as the scrip gave more than 56% return to investors on the listing.

https://www.financialexpress.com/market/ireda-sees-bumper-debut-lists-over-56-premium-on-bourses-should-you-hold-or-book-profit-3320464/

10:06 (IST) 29 Nov 2023 USD-INR outlook

” Though positivity lingered through the day, 83.4 stood firm and prompted a pull back as expected. This, however is not expected to exceed 83.26, and is likely to be followed yet another attempt to overcome 83.4. Slippage below 83.26 could signal loss in strength, calling for consolidation inside 83.19 – 83.02 again. ,” said Anand James, Chief Market Strategist at Geojit Financial Services.

09:52 (IST) 29 Nov 2023 Top gainers on Nifty

Tech Mahindra, Wipro, Hero MotoCorp, LTI Mindtree, and Bharti Airtel are the top gainers on NSE Nifty 50.

09:41 (IST) 29 Nov 2023 Nifty reclaims 20000

The NSE Nifty 50 advanced 114.50 points or 0.58% to 20,004.20 during the early trade on Wednesday.

09:38 (IST) 29 Nov 2023 Derivative outlook

“Nifty weekly contract has highest open interest at 20,000 for Calls and 19,800 for Puts while monthly contracts have highest open interest at 20,000 for Calls and 19,800 for Puts. Highest new OI addition was seen at 20,200 for Calls and 19,800 for Puts in weekly and at 20,200 for Calls and 19,800 for Puts in monthly contracts. FIIs increased their future index long position holdings by 10.30%, increased future index shorts by 2.45% and in index options by 16.69% in Call longs, 11.37% in Call short, 9.38% in Put longs and 21.00% in Put shorts,” said Anand James, Chief Market Strategist at Geojit Financial Services.

09:37 (IST) 29 Nov 2023 Broader View

“Since the global market backdrop continues to be favourable, the rally in India is likely to continue. The drop in US 10-year bond yield to 4.3% and the dollar index dropping below 103 are positive for equity markets. FIIs have turned buyers responding to the changed reality. What should investors do now? Investors should take cues from the wisdom of the investment legend Charlie Munger who died yesterday. Munger advised investors: ‘don’t be gamblers, be patient investors.’There is a lot of gambling happening in the market now in low grade stocks. These should be avoided. Investors should buy quality stocks which are fairly priced, and wait patiently. There is value in largecap banking, IT and autos for patient investors. A big move in the market is likely after the state election results are known. Perhaps the exit polls tomorrow evening may provide some clues,” said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

09:26 (IST) 29 Nov 2023 Top Gainers

Bharti Airtel, Tech Mahindra, Wipro, Adani Enterprises and Grasim Industries are the top gainers during the early trade on Wednesday.

09:23 (IST) 29 Nov 2023 Gold – Up as Dollar and US yields slump

“Spot gold, currently at $2050, closed with a gain of 1.34% at $2041. Gold surged on dip in the US yields as traders construed Fedspeak affirming their notion of peak Fed rate to be followed by quick rate cuts. The ten-year US yields fell 1.58% to 4.325% as the yields touched a new cycle low. Two-year US yields fell over 3% to 4.74%. The US Dollar Index closed with a loss of 0.46% at 102.73 as the Index slid for the fourth straight day. Yields and Dollar Index continue to decline this morning, too. Total known global gold ETF holdings fell on Monday. The yellow metal may post its first monthly close above $2000 level. Gold may test $2060 resistance in near term. Major resistance is at $2080. Support is at $2025/$2009. Today’s US GDP data will be closely watched by traders,” said Praveen Singh – Associate VP, Fundamental Currencies and Commodities, Sharekhan by BNP Paribas.

09:19 (IST) 29 Nov 2023 Markets at open

The NSE Nifty 50 opened at 19,976.55 up 0.43%, while BSE Sensex opened at 66,381.26 up 207.06 points.

09:09 (IST) 29 Nov 2023 USD-INR

“The USD/INR 27th December futures contract maintained a narrow trading range. Based on the daily technical chart analysis, it is evident that the pair is currently trading above its moving average trend-line support at 83.28, with the RSI holding above the 50-level mark. While the MACD indicates positive divergence, the pair is encountering substantial resistance at higher levels. Examining the technical setup, key support for the pair is identified in the range of 83.28-83.15, while resistance is noted at 83.50-83.66. Considering these factors, we recommend initiating a sell position in the USDINR pair if it falls below 83.40. To manage risk, a stop-loss order should be placed at 83.56 on a closing basis. The suggested targets for this trade are 83.22 and 83.05,” said Rahul Kalantri, VP Commodities, Mehta Equities.

08:49 (IST) 29 Nov 2023 Market outlook

“Today’s GIFT Nifty outlook is bullish as investors anticipate the Federal Reserve’s completion of interest rate hikes to curb inflation, supporting Nifty bulls. The convincing 4.25% November rally boosts confidence in the benchmark reaching a year-end record high. Optimism is driven by Wall Street’s rise on dovish Federal Reserve remarks, positive FIIs and DIIs activity, and stable WTI Oil prices at $76.5 a barrel. Key events include the October US PCE report, November F&O contract expiration, and exit poll predictions for five states on November 30th. Technically, Nifty is likely to find support at 19,823, with resistance at its all-time high of 20,223. Options data suggests a trading range of 19,300-20,100, with the 20,100 mark as a crucial resistance zone. The recommended Nifty trade is to Buy at CMP with a Stop at 19,421, Targets at 19,829/19,889, and aggressive targets at 20,000. For Bank Nifty (43,881), the advice is to Buy at CMP, Stop at 42671, Targets at 44,000/44,500, and aggressive targets at 45,100-45,500,” said Prashanth Tapse, Senior VP (Research), Mehta Equities.

08:28 (IST) 29 Nov 2023 FII, DII Data

Foreign institutional investors (FII) purchased shares worth net Rs 783.82 crore, while domestic institutional investors (DII) added shares worth net Rs 1,324.98 crore on November 28, 2023, according to the provisional data available on the NSE.

08:27 (IST) 29 Nov 2023 Crude Oil

WTI crude prices are trading at $76.68 up 0.35%, while Brent crude prices are trading at $81.85 up 0.21%, on Wednesday morning. 

08:11 (IST) 29 Nov 2023 Wall Street

US stocks ended with modest gains on Tuesday as investors parsed conflicting remarks from Federal Reserve officials, with upbeat consumer data providing some lift, reported Reuters. The tech-heavy Nasdaq Composite advanced 40.73 points or 0.29% to settle at 14,281.76. The S&P 500 rose 4.46 points or 0.10% at 4,554.89 and the Dow Jones Industrial Average added 83.51 points or 0.24% to 35,416.98