After a strong start, the equity market entered a sharp decline during afternoon trading. By 2:00 PM, the BSE Sensex had plummeted 868.77 points, or 1.08%, to trade at 79,365. Similarly, the Nifty 50 index was down 253 points, or 1.04%, at 24,021.25. The downturn was led by a significant sell-off in IT stocks, with L&T Technology Services and Infosys among the top losers. Meanwhile, Adani Group stocks remained active, with Adani Power and Adani Enterprises witnessing considerable trading activity.
Earlier, stock market began Thursday's trading session on a cautious note, with mixed cues from the broader Asian markets. At the opening bell the BSE Sensex started at 80,282, showing a slight change in sentiment compared to recent bullish trends. Meanwhile, the NSE Nifty 50 was pegged at 24,296 during early trade, with a modest start to the day.
GIFT Nifty, this morning is trading slightly lower by 0.03%, or 7.50 points, at 24,320, indicating a tepid start for the Indian stock market. The cautious movement in the GIFT Nifty suggests that investors may witness a subdued trading session after the strong gains recorded in the previous trading day.
Yesterday, Indian equity markets ended the day on a high note, driven by significant gains in Adani Group stocks. The Nifty closed at a three-week high, adding 80 points to settle at 24,275, while the Sensex climbed by 230 points, finishing the session at 80,234. The positive momentum in the market seen yesterday was mainly due to strong buying in select heavyweight stocks and improving sentiment around the Adani Group, which contributed to the rally.
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Nov 28, 2024, 2:20 pm IST
Market Live Updates: Bank Nifty Erases 52,000
Bank Nifty nosedived to hit an intraday low of 51,782.90. Currently, the index is down by 450 points or 0.9% to trade at 51,852.40. Private bank stocks were major draggers. Axis Bank, Kotak Bank, ICICI Bank and Federal Bank stocks dipped by 1% to 2%, emerging as top losers.
Nov 28, 2024, 1:34 pm IST
Spright Agro Limited Expands Horizons with Planned Land Acquisi on for Contract Farming
Spright Agro Limited, a trusted name in the contract farming and agriculture trading sectors, is delighted to announce its plans to acquire addi onal land to further expand its contract farming opera ons. This strategic move underscores the company’s unwavering commitment to growth, innova on, and sustainability in the agricultural sector. This planned acquisi on aligns with Spright Agro Limited’s vision to strengthen its market presence and maintain its posi on as a leader in the field. The an cipated expansion is expected to boost the company’s overall revenue by approximately 1015%, reflec ng propor onate growth in net revenue for the financial year.
Nov 28, 2024, 1:21 pm IST
:GAIL re-engages Process Licensor for revival of PTA Manufacturing Plant in Mangalore
GAIL (India) Limited, through its wholly owned subsidiary GAIL Mangalore Petrochemicals Limited (GMPL), has re-engaged with Process Licensor INEOS to support the plant's revitalization, formalizing this renewed collaboration through an Amendment Agreement signed here. This marks a significant step towards the revival of GMPL’s 1.25 MMTPA Purified Terephthalic Acid (PTA) manufacturing plant located in the Special Economic Zone (SEZ), Mangalore. This collaboration marks a pivotal development in the efforts to bring the PTA plant back into production. The original agreement with INEOS was executed by JBF Petrochemicals (JBF), which could not be realized due to insolvency proceedings. Following GAIL's acquisition of JBF through the Corporate Insolvency Resolution Process (CIRP) under the National Company Law Tribunal (NCLT) in June 2023, the company is now working to overcome the legacy challenges and ensure the plant’s successful on-streaming and long-term operational stability.
Nov 28, 2024, 1:00 pm IST
TCS Partners With IIT KGP
Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS), a global leader in IT services, consulting, and business solutions, has set up an advanced research center in partnership with the Indian Institute of Technology Kharagpur (IIT KGP) to produce high-quality research in the areas of digital health, robotics and intelligent systems leveraging edge computing, embedded systems, and AI. Located in the institute’s research park in New Town, Kolkata, the TCS Research Center will feature three state-of-theart laboratories where over 150 TCS scientists will explore cutting-edge technologies and push the boundaries of innovation. The laboratories will be in the domains of – Sensing and Communications, Edge Computing and Analytics, and Robotics and Visual Computing. Researchers will have access to state-of-the-art equipment at the center enabling them to accelerate innovations in cutting-edge technologies such as edge computing, embedded systems and Artificial Intelligence. This new center serves as a testament to TCS’ rich history of collaboration with the academia to create business and societal impact.
Nov 28, 2024, 12:44 pm IST
Gold Price In India Today, Nov-28
Gold prices in India fell precipitously on Thursday, November 28, amid geopolitical advancements. Gold now costs Rs 7,093 per gramme for 22 carat gold and Rs 7,735 per gramme for 24 carat gold in India. In India, the price of 22k of 10 grams of gold dropped by Rs 120 to Rs 70,930 on Thursday from Rs 71,050 on Wednesday. Meanwhile, the price of 22k of 100 grams of gold dropped by Rs 1,200 to Rs 7,09,300 today from Rs 7,10,500 yesterday.
Rs 7,300 Crore Emission Penalty Clouds Hyundai and Mahindra Shares
Shares of top automakers, including Hyundai Motor India and Mahindra & Mahindra (M&M), faced selling pressure on November 27, 2024, after reports surfaced of penalties totalling Rs 7,300 crore. The Union Government levied these fines on eight car manufacturers for surpassing the mandated fleet emission levels under Corporate Average Fuel Efficiency (CAFE) norms for FY23.
Nov 28, 2024, 11:29 am IST
Sensex and Nifty Slide 1% Amid Volatility, Early Gains Erased
On November 28, 2024, Indian equity markets witnessed a sharp downturn as initial gains evaporated, with the Sensex and Nifty plunging 0.7%. The dip followed a brief rally driven by election results, as benchmarks struggled to sustain momentum and slipped below key resistance levels.
By 10:45 AM, the BSE Sensex had fallen 557 points to 79,677, while the NSE Nifty declined 151 points to 24,124. Despite the setback, market breadth remained positive, with 2,086 shares advancing, 1,152 declining, and 105 unchanged.
Nov 28, 2024, 11:28 am IST
HDFC Bank Hits Rs 14 Lakh Crore Market Cap Milestone in Early Trade
On November 28, 2024, HDFC Bank's market capitalization briefly surpassed the ₹14 lakh crore mark for the first time. By 10:30 AM, the stock was trading at Rs 1,825.90 on the National Stock Exchange (NSE), reflecting a 0.75% rise in early trade. A strong session saw over 93,000 shares traded, generating a turnover of ₹16.92 crore. The bank’s price-to-earnings (PE) ratio stood at 20.98x, highlighting its valuation strength.
Nov 28, 2024, 9:58 am IST
Revolt Motors Kickstarts Operations in Sri Lanka
Revolt Motors, India’s largest electric motorcycle company, made its highly anticipated debut in Sri Lanka with the launch of its flagship models, the RV400 and RV400 BRZ. Hosted at the prestigious Water’s Edge, the event marked a significant milestone in Sri Lanka’s journey toward greener and more innovative transportation solutions. With the first dealership already operational at Maradana Road, Colombo, Revolt Motors plans to establish a robust presence across the country by opening additional dealerships in 11 strategic locations, including Kurunegala, Madurankuliya, Matara, Embilipitiya, Elpitiya, Batticaloa, Kirindiwela, Horana, Kelaniya, and Tangalle.
Nov 28, 2024, 9:37 am IST
Sensex and Nifty Today
Sensex Currently up 33 points trading at 80,200, While Nifty 50 Trades flat at 24,273
Nov 28, 2024, 9:29 am IST
Rupee Vs Dollar
The Indian rupee fell by 0.04% against the US dollar today. On Wednesday, the rupee weakened by 12 paise, pressured by a stronger dollar.
Nov 28, 2024, 8:59 am IST
Asian Markets Trade Mixed
Asian stock markets displayed a mixed trend in early trading today, reflecting varying regional sentiments. Japan's Nikkei 225 rose 0.42% to 38,295.13, while South Korea’s Kospi gained 0.32%, and Australia’s ASX 200 advanced 0.72%, supported by strength in key sectors.
On the other hand, several indices faced declines. The Shanghai Composite slipped 0.21%, the Hang Seng Index in Hong Kong dropped 1.29%, and Taiwan's Weighted Index edged lower by 0.28%.
Nov 28, 2024, 8:51 am IST
US Markets Close in Red Amid Muted Trading Activity
US stock markets ended Wednesday's session with losses across major indices as trading remained subdued ahead of the Thanksgiving holiday. The Dow Jones Industrial Average fell 138.25 points, or 0.31%, to close at 44,722.06. The Nasdaq Composite dropped 115.10 points, or 0.6%, settling at 19,060.48. While the S&P 500 also declined, losing 22.89 points, or 0.38%, to finish at 5,998.74.
Market activity was largely muted, with investors exercising caution ahead of the Thanksgiving trading holiday tonight and a shortened trading session scheduled for Friday. Key economic data, including the PCE inflation report and initial jobless claims, is expected to influence market sentiment and provide further direction to the market.
Nov 28, 2024, 8:35 am IST
Markets In The Previous Closing
Indian equity markets ended Wednesday's session on a positive note, driven by strong performances in select sectors and stocks. The Sensex climbed 230.02 points or 0.29%, to close at 80,234.08, while the Nifty 50 advanced 80.40 points or 0.33%, settling at 24,274.90.
Among the top gainers on the Nifty were Adani Enterprises, Adani Ports, Bharat Electronics, Trent, and NTPC. In contrast, Apollo Hospitals, Titan Company, Shriram Finance, Wipro, and IndusInd Bank were among the major losers. Sectorally, pharma, IT, and realty faced selling pressure, while gains in auto, banking, energy, FMCG, and metal supported the indices. HDFC Bank and Vodafone Idea emerged as standout performers this week, reflecting investor confidence. Another notable highlight of the session was the surge in Adani Group stocks, which rallied by up to 12%, buoying market sentiment
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