Share Market Highlights- Nifty settles at a fresh high; closes above 20260, Sensex over 67480, Bank Nifty adds 330 points

Share Market Highlights: Nifty settles at a fresh high; closes above 20260, Sensex over 67480, Bank Nifty adds 330 points

Share Market News Today | Sensex, Nifty, Share Prices Highlights: The benchmark equity indices settled in the positive territory on Friday. The NSE Nifty 50 soared 0.78% to hit a fresh high of 20,291.55 during intra-day trade and settled at 20,267.90, up 134.75 or 0.67, while the BSE Sensex added as much as 492.75 points to settle at 67,481.19. The broader indices ended in green with the gains led by Midcap and Smallcap stocks. Bank Nifty index added 332.45 points to settle at 44,814.20. Media stocks led the gains among the other sectors and indices, soaring 2.57%. Meanwhile, PSU Bank, Financial Services, FMCG, and Realty stocks also rallied, each gaining over 1%, while Auto stocks faced corrections. ITC, NTPC, Axis Bank, Larsen & Toubro, and Brittani Industries were the top gainers on the NSE Nifty 50, while the laggards included Wipro, HDFC Life Insurance Company, Hero MotoCorp, Mahindra & Mahindra, and SBI Life Insurance Company. The volatility index (India Vix) ended down 2.42%.Live Updates

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

15:38 (IST) 1 Dec 2023 Markets at close

The NSE Nifty 50 soared 0.78% to hit a fresh high of 20,291.55 during intra-day trade and settled at 20,267.90, up 134.75 or 0.67, while the BSE Sensex added as much as 492.75 points to settle at 67,481.19.

14:55 (IST) 1 Dec 2023 Crude Oil

“We see crude oil prices falling under $70 in coming sessions as the OPEC+ conclusion lacks clarity on the quota of members oil cuts, which largely remain a voluntary discretion of members. Eight members of OPEC+ decided to announce further additional cuts totalling almost 2.2mbpd for 1Q24. However, this includes the rollover of Saudi Arabia’s current additional voluntary cut of 1mbpd, as well as Russia’s export cut of 500mbpdd. We expect oil market balance to remain in surplus in Q12024 at the present level of productions cuts from OPEC+. On the other hand, EIA reported US production to have hit all time high of 13.24 mbpd last week. Overall demand has been weakening in Q4, while supplies are becoming plentiful from non-OPEC nations. The economic data from US signals slowdown in coming quarters and China remain sluggish. We remain bearish on crude oil with prices testing the support of $72 and $70 in short term,” said Mohammed Imran – Research Analyst at Sharekhan by BNP Paribas.

14:23 (IST) 1 Dec 2023 November Auto Sales

Tata Motors sales for November; Company records 1% YOY decline in overall domestic auto sales, sells 72,647 units in November 2023; stock down as exports for passenger vehicles drop 81% YOY.

Tata Motors sells 46,068 cars in Nov— Nexon, Punch drive majority sales 13:41 (IST) 1 Dec 2023 November Auto Sales

Bajaj Auto sales for November; Company records 77% YOY growth, sells 2,18,597 two-wheelers in the domestic market, stock down as exports decline 6% YoY.

Bajaj registers 77% growth in domestic sales in November 2023 13:36 (IST) 1 Dec 2023 November Auto Sales

Mahindra & Mahindra sales for November; Company records 32% YOY growth, dispatches 39,981 SUVs to dealerships across the country last month, Company says festive sells healthy, stock down as UV sales dip month on month.

Mahindra sells 39,981 SUVs in Nov, records 32% YoY growth

12:45 (IST) 1 Dec 2023 Markets so far

(Source: NSE)

12:21 (IST) 1 Dec 2023 Midcap Buzzers

PFC is leading the gains among the Midcap stocks and has surged nearly 9% during intra-day trade on Friday, while REC and Zee Entertainment have rallied over 6% each.

11:48 (IST) 1 Dec 2023 Nifty climbs above 2080

NSE Nifty 50 continued its northwards trend and added 0.73% to hit a fresh all-time high of 20,281 during the intra-day trade on Friday.

11:47 (IST) 1 Dec 2023 Top gainers

NTPC, Axis Bank, ITC, Larsen & Toubro and Asian Paints are the top gainers on the NSE Nifty 50.

11:32 (IST) 1 Dec 2023 Nifty hits another high

NSE Nifty 50 continued its northwards trend and advanced 0.72% to hit a fresh all-time high of 20,279.95.

11:19 (IST) 1 Dec 2023 Midcap stocks on a ride

The NSE Nifty Midcap 50 index soared 1.07% during the intra-day trade on Friday. PFC and REC led the gains and advanced over 8% each.

11:16 (IST) 1 Dec 2023 Mid-market overview

“The first trading day of December month witnessed a strong start, with Nifty achieving a new record high and Sensex surging by over 400 points. These dynamic market movements in key indices coincide with our GDP data surpassing expectations for the July-September quarter. In the derivatives, notable Open Interest (OI) is observed in Nifty’s 20,300 Call strike, with 23 lakh shares, and the 20000 Put strike, which displays substantial OI of 60 lakh shares. Turning to Bank Nifty, the 44500 Call strike stands out with a meaningful OI of 19 lakh shares, while the 44500 Put strike on the opposite side holds a sizeable OI of 14 lakh shares. It’s essential to approach the market cautiously, considering that exit polls are non-directional. Investors may consider booking partial profits, given the one-way rally from 19,800.”

– Shrey Jain, Founder and CEO SAS Online

11:15 (IST) 1 Dec 2023 Nifty targets 21000

“The Indian equity market is in a strong bullish mood and is hitting a fresh all-time high. We may continue our momentum and outperform our other global peers, backed by the strong fundamentals and under-ownership of FIIs. FIIs may become net buyers amid rising US bond yields and the strong macroeconomics of India. State election results may create some kind of volatility, but we are preparing ourselves for a pre-election rally. In terms of level, 21,000 looks like an easy task in the near term for the Nifty,” said Parth Nyati, Founder of Tradingo.

11:13 (IST) 1 Dec 2023 Nifty aims 20420

Well, this Friday morning, the Christmas cake is already baked for solid gains. With the ‘victory lap of ALLTIMEHIGHS’, Nifty aims to close above its all-time high at the 20,223 mark. From a technical perspective, any corrective declines to Nifty 20,000 are likely to find decent support. The Nifty options data suggests Nifty is likely to be in a trading range of 19,500–20,500. If Nifty closes above the ATH 20,223 mark, Nifty looks to aim for 20,420 before taking any profits from the market.

The 1-big catalyst traders should watch out for Fed Chief Powell’s speech on Friday will be closely watched for clues as to the central bank’s thinking.

Why is the Nifty racing higher?

Resurgent optimism from FIIs camp. FIIs were buyers in the last four sessions and for the ongoing week buying is already to the tune of Rs. 9004 crores.Indian Economy Grows 7.6% in Q2, Beating Estimates.Exit polls predict BJP ahead in MP and Rajasthan; Congress gains in Telangana and Chhattisgarh.Inflation in the US is slipping.Fed expected to pause at the December meeting.The US dollar index stays depressed at 103 levels, flirting with its lowest in 15 weeks.The US Q3 GDP came in at 5.2% vs the initial 4.9% estimate.

– Prashanth Tapse, Research Analyst, Sr VP Research, Mehta Equities.

11:06 (IST) 1 Dec 2023 Nifty hits another high

NSE Nifty 50 continued its northwards trend and advanced 0.70% to hit a fresh all-time high of 20272.75.

10:35 (IST) 1 Dec 2023 Nifty 50 continues to soar; hits another fresh high

NSE Nifty 50 continued its northwards trend and added 0.67% to hit a fresh all-time high of 20268.60.

10:33 (IST) 1 Dec 2023 Markets so far

(Source: NSE)

10:17 (IST) 1 Dec 2023 NTPC leads

NTPC is leading the gains on the NSE Nifty 50 with a surge of 4.40%. Larsen & Toubro, ITC, Axis Bank, and Coal India are among the other leading gainers on the Nifty 50.

10:14 (IST) 1 Dec 2023 Nifty hits another high

NSE Nifty 50 continued its northwards trend and added 0.64% to hit a fresh all-time high of 20,263.75.

10:04 (IST) 1 Dec 2023 Party at Dalal Street; Nifty at record high

NSE Nifty 50 continued its northwards trend and added 0.62% to hit a fresh all-time high of 20259.55 during the early trade on Friday.

09:59 (IST) 1 Dec 2023 PSU Bank stocks soar

The NSE Nifty 50 index soared 2.21% to 5,152.50 with the gains led by Bank of India, Punjab National Bank, Bank of Baroda and Canara Bank.

09:55 (IST) 1 Dec 2023 Nifty hits another high

NSE Nifty 50 continued its northwards trend and added 0.62% to hit a fresh all-time high of 20,258.45 during the early trade on Friday.

09:50 (IST) 1 Dec 2023 Markets so far

(Source: NSE)

09:47 (IST) 1 Dec 2023 PSU Bank stocks zoom

The Nifty PSU Bank index led the gains among the other sectoral indices and surged 1.72% to 5,128.00 during the early trade on Friday.

09:46 (IST) 1 Dec 2023 Who are losing

Wipro, SBI Life Insurance Company, Bajaj Auto, Tech Mahindra and HCL Tech constitute the top laggards.

09:45 (IST) 1 Dec 2023 Top gainers

NTPC, Larsen & Toubro, Asian Paints, Power Grid Corporation and ITC are the top gainers on the NSE Nifty 50.

09:42 (IST) 1 Dec 2023 PSU Bank, Realty and Media lead the gains

The PSU Bank, Realty and Media indices are leading the gains among the other sectoral indices and have advanced over 1% each during the early trade on Friday.

09:35 (IST) 1 Dec 2023 Nifty 5O hits fresh high

NSE Nifty 50 continued its northwards trend and gained 0.52% to hit a fresh all-time high of 20238.45 during the early trade on Friday.

09:32 (IST) 1 Dec 2023 Who leading the gains

Larsen & Toubro, NTPC, Asian Paints, ONGC, and IndusInd Bank are leading the gains on the NSE Nifty 50 during the early trade on Friday.

09:29 (IST) 1 Dec 2023 Nifty at all time high

NSE Nifty 50 continued its northwards trend and gained 0.49% to hit a fresh all-time high of 20232.10 during the early trade on Friday.

09:25 (IST) 1 Dec 2023 Nifty hits new high

The benchmark Indian equity index, NSE Nifty 50, advanced 0.47% to a fresh all-time high of 20228.1 during the early trade on Friday.

09:20 (IST) 1 Dec 2023 Markets at open

The NSE Nifty 50 opened at 20194.1 up 0.30%, while BSE Sensex opened at 67,181.15 up 192.71 points.

08:58 (IST) 1 Dec 2023 Market outlook

“Markets are likely to be on a firm ground in early Friday trades tracking strong gains in the Gift Nifty index despite a mixed trend in global equities. The biggest positive catalyst has been the resurgent optimism from the FII camp, which bought local shares worth over Rs 8,000 crore on Thursday amid moderating US bond yields and fading concerns of further interest rate hike. Markets may also react to exit poll results of 5 state elections which has been a mixed bag for the two largest parties. From a technical perspective, all bullish eyes on Nifty’s all-time-high of 20,223 mark,” said Prashanth Tapse, Senior VP (Research), Mehta Equities.

08:43 (IST) 1 Dec 2023 FII, DII Data

Foreign institutional investors (FII) purchased shares worth net Rs 8,147.85 crore, while domestic institutional investors (DII) sold shares worth net Rs 780.32 crore on November 30, 2023, according to the provisional data available on the NSE.

08:27 (IST) 1 Dec 2023 US Dollar

The US Dollar Index (DXY), which measures the value of the dollar against a basket of six foreign currencies, traded down 0.20% at 103.29.

08:27 (IST) 1 Dec 2023 Crude Oil

WTI crude prices are trading at $75.76 down 0.26%, while Brent crude prices are trading at $82.83 down 0.32%, on Friday morning.

08:21 (IST) 1 Dec 2023 Wall Street

The Dow Jones Industrial Average closed at its highest level since January 2022 as investors crossed the finish line of a banner month for stocks and viewed cooling inflation data as a harbinger of easing Federal Reserve monetary policy, reported Reuters. The Dow Jones Industrial Average soared 520.47 points, or 1.47%, to 35,950.89 and the S&P 500 added 17.22 points, or 0.38%, at 4,567.8, while the tech-heavy Nasdaq Composite dropped 32.27 points, or 0.23%, to 14,226.22.

08:20 (IST) 1 Dec 2023 India’s Q2 GDP beats estimates

India’s gross domestic product (GDP) beat all estimates by a wide margin to grow at 7.6% in real terms in the September quarter (Q2FY24), with a big – and unexpectedly solid – push from manufacturing and investment segments that have been weak spots in the country’s economic landscape for long. The headline GDP number, way higher than the Reserve Bank of India (RBI) projection of 6.5% — even the most optimistic forecasts hovered around 7% —got backing from government consumption spending (up 12.4% on shrunken base), while private consumption, the largest part of the GDP, was muted (3.1%).