Stock Market Closing Update: Sensex, Nifty Close Higher; Adani Stocks Gain

The Indian equity market closed on a positive note on Tuesday. At market close, the benchmark index Sensex closed 0.31% higher at 66,174.20 points, while Nifty 50 was up 0.48% at 19,889.70 points.
Most Adani group stocks rallied on Tuesday, posting an intraday gain of up to 20%. The share price of Adani Total Gas gained 20% at Rs 644.15 per share at 3:45 pm IST.
Among sectors, Nifty Metal index gained 1.8%, followed by the Nifty PSU Bank index (up 1.35%), and the Nifty Auto index (up 0.9%).

BSE Sensex witnessed a decline of 35 points to 65,934 and Nifty50 gained 25 points to 19,818 points at 11:43 am on Tuesday. Adani group stocks saw positive trading on Tuesday, posting up to 20% gains in today's early morning trade. At one point during the day, the share price of Adani Total Gas gained 19.62% to hit a day high of Rs 642.10.

Meanwhile, India's blue-chip indexes were flat on Tuesday. At least, 9 of the 13 sectors witnessed rally. Metals gained 1.1%, lifted by a jump in Adani Enterprises, which has a 16.43% weightage on the index.

Among the Sensex firms, shares of Adani Enterprises, Adani Ports, Tata Motors, BPCL, and Hindalco emerged as the top gainers. Meanwhile, shares of HCL Technologies, Tech Mahindra, Cipla, Infosys and IndusInd Bank figured in the list the laggards.

Adani Enterprises shares gained 6.17% to 2,362.85 apiece and Adani Ports shares soared 2.95% to 819.05 apiece, respectively. Shares of Netweb Technologies also surged more than 8% in morning trade after it inked an alliance with NVIDIA.

As November wraps up, the Indian stock market is set for a dramatic week ahead, with the monthly F&O series expiry, state election results, and shifting economic projections taking centre stage. Despite the Nifty 50 being stuck in a narrow range, broader markets have shown resilience, with the Midcap index gaining an impressive 4,000 points since late October.

The Nifty 50 has experienced a remarkable rally of 950 points this series, despite being rangebound within a 200-point range over the past two weeks. Interestingly, the broader markets have outperformed, with the Midcap index surging, signalling positive sentiments among investors.

The upcoming week brings not only the monthly F&O series expiry but also the eagerly awaited state election results, scheduled to be reported on Sunday, December 3. Investors are likely to closely monitor the outcomes, anticipating potential market reactions. Additionally, S&P Global Ratings' adjustment of India's GDP growth projection for the financial years 2024 and 2025 may add an extra layer of volatility.

The Nifty Bank, which has been trailing the Nifty in performance, has finally gained momentum in the last two trading sessions, surging by around 300 points. This positive shift comes after weeks of underperformance, offering a hopeful outlook for the banking sector.

Investors are advised to keep an eye on specific stocks as they head into Tuesday's trading session:
Maruti Suzuki plans to increase car prices in January 2024 due to rising inflation and commodity prices. Berkshire Hathaway sells its entire 2.46% stake for Rs 1,369 crore in Paytm. Eicher Motors launches the all-new Himalayan, available for booking from Rs 2.69 lakh.
HDFC Bank appointed Harsh Kumar Bhanwala as an independent director; V Srinivasa Rangan was appointed as Executive Director. Fortis Healthcare to divest Fortis Malar Hospital, Chennai, for Rs 128 crore. Newgen Software approves the 1:1 bonus issue and sets a record date for January 12, 2024.
PB Fintech plans to invest Rs 350 crore in Policybazaar in tranches over financial years 2024 or 2025. Raymond Chairman & MD Gautam Singhania assures employees amid public disputes, emphasizing business as usual.

Asian equities have mostly opened higher, with Japan's Nikkei 225 and Topix unchanged, and South Korea's Kospi up 0.4%. Hong Kong's Hang Seng futures, however, suggest a subdued start.

In the US, markets ended marginally lower after a four-week gaining streak. The SGX Nifty indicates a positive start for the Indian market, while the Dow and S&P 500 closed 0.2% lower, and the Nasdaq fell 0.1%.

As the month concludes, investors brace for a week filled with potential market-moving events, making it essential to stay vigilant and adapt to the ever-changing dynamics of the stock market.

LIVE Feed

Nov 28, 2023, 3:31 pm IST

TCS Share Buyback Program To Open On December 1 And End On December 7

Tata Consultancy Services (TCS) said on Tuesday that its Rs 17,000 crore share buyback program will open on December 1 and close on December 7. TCS shares were spotted trading 0.61% higher at Rs 3,478.15 per share at 3:29 pm IST.

Nov 28, 2023, 3:10 pm IST

Top 5 Gainers and Losers Today

Source:NSE

Nov 28, 2023, 2:45 pm IST

European Stock Markets Open Lower To Extend Losses On Tuesday

Europe's main stock markets slipped further in the initial few minutes of trading on Tuesday as investors booked profits ahead of the key US inflation data this week. London's benchmark FTSE 100 index fell 0.4% to 7,428.78 points.

Nov 28, 2023, 2:27 pm IST

Adani Total Gas Launches Green Hydrogen Blending Pilot Project At Ahmedabad, Stock Up 20%

Adani Total Gas Ltd. (ATGL), a leading energy and city gas distribution company on Tuesday announced the initiation of a pioneering ‘Green Hydrogen Production and Blending Pilot Project’. The company said that ATGL will employ the latest technologies to blend Green Hydrogen (GH2) with natural gas for over 4,000 residential and commercial customers at Ahmedabad, Gujarat. The stock was up 20% at Rs 644.15 per share at 2:20 pm IST today.

Nov 28, 2023, 2:00 pm IST

United Breweries Announces Heineken® Silver Draught Beer in India

The eagerly awaited introduction of Heineken® Silver Draught Beer in India has been announced by United Breweries, the major beer maker in the nation and a member of the HEINEKEN group headquartered in Amsterdam. With the goal of giving customers a high-end, smooth-tasting beverage suitable for social gatherings, Heineken is introducing its draught beer to the Indian market for the first time, marking a noteworthy milestone. With intentions to extend to Karnataka in the fiscal year 2024, Heineken® Silver Draught Beer will initially only be offered at premium bars and pubs in Mumbai, Thane, and Pune in Maharashtra. With the introduction of Heineken® Silver Draught Beer to India, United Breweries Limited is honoured to uphold the remarkable brewing tradition of Heineken and establish a new benchmark in the premium beer market. High-end bars and pubs serve Heineken® Silver Draught. In the upcoming months, Heineken® Silver Draught will be introduced in other markets.

Nov 28, 2023, 1:57 pm IST

Welspun Corp Appoints Gerald Mosley As Chief Executive Officer For Welspun Tubular LLC

Welspun Corp’s US-based subsidiary Welspun Tubular LLC has appointed Mr. Gerald Mosley as Chief Executive Officer for Welspun Tubular LLC w.e.f. November 27, 2023. “We are confident that Mr. Mosley’s leadership and diverse portfolio of experiences in creating insightful vision, setting strategic direction, executing to plan, transforming operations and developing high performing organizations will further aid Welspun Corp’s business growth in the existing and new markets thereby retaining it's global leadership position as a line pipe manufacturing firm with focus on digital transformation and ESG capabilities,” said Welspun Corp in a stock exchange filing. “Our manufacturing facility in Little Rock, Arkansas is known for delivering on high quality specifications of our customers and service level expectations for producing pipes for oil and gas sector. Some of the prestigious projects executed from our Little Rock facility are DAPL, NGTL, Diamond Pipeline, Mountain Valley Project, Seaway Pipeline, PHP, GCX, Net Mexico Pipeline, Ruby Pipeline, ONEOk ELK, Gray Oak, MXP, ETC Red Bluff, EPCO Mentone, Aspen Midstream, EPCO Orla, Grand Mesa, etc,” the company informed stock exchanges.

Nov 28, 2023, 1:52 pm IST

Jubilant FoodWorks Subsidiary Acquires Entire Stake In DP Eurasia N.V

Jubilant Foodworks Netherlands B.V. (JFN), a wholly owned subsidiary of Jubilant FoodWorks Limited announces to purchase all of the issued and outstanding ordinary share capital of DP Eurasia N.V. (DP Eurasia) that is not currently held by JFN from current DP Eurasia shareholders for up to 85 pence per share, through any permitted method, including the open offer or market purchase. Currently, JFN owns 48.84% of DP Eurasia's ordinary shares. JFN will use a combination of its current term loan facility from HSBC, which is backed by the corporate guarantee the company has issued, and a new long-term facility from HSBC, which will also be backed by the corporate guarantee the company will issue in favour of HSBC, to fund the acquisition. According to JFN's proposal, DP Eurasia's ordinary shares will be purchased for as much as 85 pence, or EUR 0.97 as of November 27, 2023, per common share. This would be a premium of around 24.1% over the closing share price of 68.5 pence on November 27, 2023. The total consideration for the transaction will be up to around EUR 73.36 million. As a result, JFN proposes purchasing up to 51.16% of DP Eurasia's ordinary shares from its existing shareholders.

Nov 28, 2023, 1:47 pm IST

Karur Vysya Bank Opens 4 New Branches

The private sector lender has opened 4 new branches in the following locations: No. 993/1002, Sarvaguru Complex, Madhugiri Road, Near Govt. Hospital, Dobbaspet, Nelamangala Taluk, Bangalore – 562111, No:7, Madharsha Islamiya Street - I Pernambut, Vellore District - 635810, S.F. No.320/1D, Cuddalore Main Road, Tiruvennainallur, Villupuram Dist - 607203 and S.F. No.953/1A, Salt Road, Marakkanam, Villupuram Dist - 604303. The above mentioned branches of Karur Vysya Bank are scheduled to open on 29th November.

Nov 28, 2023, 12:20 pm IST

Revolt Motors Unveils New RV400 In Eclipse Red Colour

The largest electric motorbike manufacturer in India, Revolt Motors, is pleased to announce the arrival of the RV400 in a stunning new colour: Eclipse Red. The new Eclipse Red shade of the RV400 radiates an unparalleled depth in its glossy glazing while resonating a powerful spirit in a deep red tone. This expansion of the RV400 portfolio demonstrates Revolt's dedication to innovation and whimsy. "Our vision has always been to merge innova on with elegance, and the Eclipse Red encapsulates this philosophy perfectly," remarked Mrs. Anjali Ra an, Business Chairperson of Ra anIndia Enterprises Limited, the parent company of Revolt Motors. "We are thrilled to introduce Eclipse Red as the newest addi on to the Revolt RV400 range, providing riders with an opportunity to showcase their passion for adventure and power."

Nov 28, 2023, 12:11 pm IST

Netweb Collaborates With NVIDIA To Unlock Potential of AI

Today, Netweb Technologies India Limited (Netweb) said that it is now a manufacturing partner for the GH200 Grace Hopper Superchip MGX server design and the NVIDIA Grace CPU Superchip. Under its Tyrone line of AI systems, Netweb plans to develop and manufacture over 10 server variants for a variety of AI and high-performance computing/supercomputing applications. The nation's 'Make in India' initiative would be strengthened by Netweb's AI systems with NVIDIA MGX. Simultaneously, the production of systems domestically will create a local ecosystem to better meet the needs of government and private sectors for AI and accelerated computing applications.

Nov 28, 2023, 11:50 am IST

Integra Essentia Ltd Zoom 10% On 1:1 Bonus Issue

Small cap company operating in apparels sector Integra Essentia Ltd shares zoom 10% in trade today after the board of directors on November 27, 2023 approved bonus issue of equity shares in the ratio of 1:1. The company has yet to fix the record date for the same. Last trading price of Integra Essentia share BSE is Rs 7.70 per share. Integra Essentia shares offered return of 511% in last 2-years and declined 10.88% in last 1-year.

Nov 28, 2023, 11:49 am IST

Adani Group Stocks Rally Up To 20%

Adani group stocks saw positive trading on Tuesday, posting up to 20% gains in today's early morning trade. At one point during the day, the share price of Adani Total Gas gained 19.62% to hit a day high of Rs 642.10. At 10:24 am IST on Tuesday, Adani Enterprises shares were up 5.90% at Rs 2362.00. In the intraday trading, the stock of Adani Enterprises saw a spurt in volume by over 5.34 times. Meanwhile, the share price of Adani Ports And Special Economic Zone Ltd was up 3.07% at 10:25 am IST. On Tuesday, Adani Ports shares also saw an intraday spurt in volume by more than 5.32 times.

Nov 28, 2023, 10:57 am IST

Jefferies Initiates Coverage On BSE Ltd, TP Rs 2700

Leading brokerage firm Jefferies initiated coverage on BSE Ltd with buy call. The analyst has assigned a target price of Rs 2700. The stock is riding on the digitization of the Indian Capital Markets. BSE can leverage macro tailwinds along with headway into derivatives. Derivatives are expected to make up 35% of BSE's revenues.

Nov 28, 2023, 10:48 am IST

Netweb Technologies India stock soars over 8% after alliance with NVIDIA

Shares of Netweb Technologies also surged more than 8% in morning trade after it inked an alliance with NVIDIA. Current market price of Netweb Technologies is Rs 879.90 per share with gain of 8.64%. Netweb Technologies India Limited (Netweb), the leading Indian OEM in high-end computing, today announced that it is now a manufacturing partner for the NVIDIA Grace CPU Superchip and GH200 Grace Hopper Superchip MGX server designs. Netweb will build and produce more than ten server variations under its Tyrone range of AI systems meant for a wide range of AI and high-performance computing/supercomputing applications.

Nov 28, 2023, 9:32 am IST

Market Opens In The Green, Nifty Hovers Around 19,850

Indian indices kicked off the trading day on a positive note, with the Nifty hovering around the 19,850 mark. The Sensex registered a gain of 60.93 points, or 0.1%, reaching 66,030.97, while the Nifty saw an increase of 26.80 points, or 0.14%, reaching 19,821.50. The market activity showcased 1,799 advancing shares, 573 declining shares, and 199 unchanged shares. Among the top gainers on the Nifty were Adani Enterprises, BPCL, Adani Ports, Coal India, and Power Grid Corp. On the flip side, M&M, Reliance Industries, ICICI Bank, L&T, and Cipla were among the top losers.

Nov 28, 2023, 8:59 am IST

Oil Prices Inch Up Amidst Speculation of OPEC+ Considering Further Production Cuts

Oil prices have seen a modest increase as market attention turns to the potential for deeper output cuts from OPEC+. The delicate balance between the likelihood of production adjustments and indications that supply might be outpacing demand is influencing the oil market. West Texas Intermediate (WTI) is hovering around per barrel, while the global benchmark, Brent, is maintaining proximity to the mark. Despite a brief uptick on Monday, where WTI experienced a momentary rise fueled by reports suggesting Saudi Arabia, a heavyweight within the OPEC+ alliance, is urging fellow members to consider reducing their production quotas, the day concluded with a 0.9% decrease.

Nov 28, 2023, 8:55 am IST

Market Outlook Today

Mr. Aditya Gaggar, Director of Progressive Shares said, "The Index is finding it difficult to clear its immediate hurdle of 19,840 but an early indication from GIFT Nifty indicates a strong opening for the Indian equities and in the case of a breakout, we can expect a target of 20,170 with the downside being restricted at 19,730. We remain bullish on the Auto sector as it is performing as per our expectation, and momentum in the constituents is indicating continuation of an existing uptrend (already recommended Bajaj Auto, Eicher Motors, and Hero Motocorp and will stick to it, Bharat Forge- Flag and Pole Breakout). In BankNifty, the downside is limited to its 20DMA which is at 43,630 while on the higher side it needs to clear the resistance of 44,060 & 44,400. Pharma was also seen extending its uptrend by registering new highs; and we believe, that the ongoing momentum will continue from hereon with a minor correction (profit booking) in between (FDC- Flag and Pole Breakout, Granules- Inverted Head & Shoulder Breakout). Performance of the OMC's gives the confidence to remain bullish on it (BPCL, HPCL). We are expecting some profit-booking activity in the Realty sector; however, an uptrend will remain intact and such exercise will offer a better opportunity to re-enter."

Nov 28, 2023, 8:48 am IST

Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd

“Markets are likely to see a firm opening on the back of sharp gains in the Gift Nifty index, although Asian indices are exhibiting a mixed trend. The two positive catalysts likely to aid sentiment are sluggish crude oil prices at .50 a barrel and both FIIs and DIIs turning net buyers of local stocks in Friday's session. Investors are likely to maintain caution ahead of the exit polls of five state elections on November 30. Also, monthly F&O expiry this week will see investors covering their positions. Technically, if Nifty moves above the 19889 mark then it’s safe to assume that Christmas has come early to Dalal Street and stock markets across the globe.”

Nov 28, 2023, 8:43 am IST

US Markets Experience Marginal Downturn After Four-Week Rally

The US markets witnessed a slight pullback as they closed marginally lower. The Dow and S&P 500 both concluded the trading session with a 0.2% decline, while the Nasdaq experienced a slightly larger dip, falling by 0.1%. The Dow Jones Industrial Average, representing 30 major companies, and the S&P 500, a broader index encompassing 500 large-cap companies, both recorded a fractional decrease. Meanwhile, the Nasdaq Composite, dominated by technology and growth stocks, saw a modest 0.1% decline.

Nov 28, 2023, 8:40 am IST

Global Market Update: Asian Equities Surge Despite Mixed Signals

Asian equities have opened on a positive note, providing a mixed bag of signals for investors. Japan's Nikkei 225 and Topix have started the day unchanged, reflecting a cautious sentiment in the region. South Korea's Kospi, on the other hand, has shown resilience, gaining 0.4% in early trade, indicating a positive momentum in the market. Hong Kong's Hang Seng futures, which are signaling a subdued start to the trading day. This contrast in performance within the Asian markets suggests a complex landscape for investors, with various factors influencing market dynamics.

Nov 28, 2023, 8:36 am IST

Market Likely To Open With Minor Gains, Nifty To Open Above 19,800

The Nifty 50 has experienced a remarkable rally of 950 points this series, despite being rangebound within a 200-point range over the past two weeks. Interestingly, the broader markets have outperformed, with the Midcap index surging, signalling positive sentiments among investors. The Nifty Bank, which has been trailing the Nifty in performance, has finally gained momentum in the last two trading sessions, surging by around 300 points. This positive shift comes after weeks of underperformance, offering a hopeful outlook for the banking sector.