Indian equity markets closed marginally lower in a volatile trading session on November 26, with the Nifty slipping below the 24,200 mark. The Sensex ended the day down by 105.79 points or 0.13% at 80,004.06, while the Nifty declined 27.40 points or 0.11% to close at 24,194.50. Market breadth showed mixed trends, with 2,179 stocks advancing, 1,580 declining, and 105 remaining unchanged.
Among the top gainers on the Nifty were Britannia Industries, Asian Paints, Shriram Finance, Bharat Electronics, and Infosys. On the other hand, Adani Enterprises, Adani Ports, UltraTech Cement, Sun Pharma, and Bajaj Auto emerged as the biggest losers.
Auto, Power, Pharma, and Oil & Gas declined by 1-1.5%, FMCG, IT, and Metal showed resilience, rising by 0.5-1%. BSE Midcap Index ended flat. BSE Smallcap Index gained 0.6%.
The Indian Rupee also witnessed a slight decline, closing 5 paise lower at 84.33 against the US Dollar compared to the previous close of 84.28.
Overall, while select sectors like FMCG and IT lent support to the market, pressure from auto and power stocks weighed on the indices.
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Nov 26, 2024, 3:49 pm IST
Market Ends Lower; Nifty Slips Below 24,200
Indian equity markets closed marginally lower in a volatile trading session on November 26, with the Nifty slipping below the 24,200 mark. The Sensex ended the day down by 105.79 points or 0.13% at 80,004.06, while the Nifty declined 27.40 points or 0.11% to close at 24,194.50. Market breadth showed mixed trends, with 2,179 stocks advancing, 1,580 declining, and 105 remaining unchanged.
Nov 26, 2024, 2:38 pm IST
Adani Wilmar Reportedly Postpones Stake Sale Following US Bribery Allegations
Adani Enterprises Ltd. and Wilmar International Ltd. are reportedly planning to delay the sale of at least 12% in their Indian food venture after a US bribery indictment involving billionaire founder Gautam Adani, according to a Bloomberg report.
Nov 26, 2024, 1:57 pm IST
Zomato Share Price Jumps As It Opens Rs 8,500 Crore QIP, Set Floor Price; Sensex Inclusion Fuels Gains
Zomato's share price has been on an upward trajectory, gaining nearly 5% in the last two trading sessions. The stock opened Tuesday's session at Rs 274.50 on the BSE, slightly higher than its previous close of Rs 273.60, before rising to an intraday high of Rs 278.60, marking a 2% gain. By mid-session, Zomato shares were trading at Rs 277.59 on the NSE.
Adani Group Shares In Focus As GQG Partners Refuses To Sell Adani Shares Stating Long-Term Confidence
All 10 Adani Group stocks opened in the red during early trading hours on Tuesday, November 26, extending losses amid market volatility. Adani Green Energy emerged as the biggest loser, tumbling over 7% to Rs 898.90 per share on the National Stock Exchange (NSE) by 10:00 am. Adani Energy Solutions followed with a decline of nearly 5%, trading at Rs 597 per share, while Adani Enterprises and Adani Ports saw losses of nearly 3% and 2%, trading at Rs 2,196.60 and Rs 1,145 per share, respectively
Kamat Hotels (India) Limited partners with RateGain
RateGain, a global leader in AI-powered SaaS solutions for the travel and hospitality industry, today announced a strategic partnership with Kamat Hotels, a renowned hospitality chain with a strong presence in India. This collaboration will empower Kamat Hotels (India) Limited to significantly increase returns from direct bookings, improve brand visibility, and enhance the overall guest acquisition across 18 of its five-star luxurious Ecotels, Heritage Hotels and Leisure resorts. With a legacy spanning over 85 years, Kamat Hotels (India) Limited stands as a testament to the enduring spirit of Indian hospitality. Also known as KHIL, the group has consistently redefined luxury and comfort, earning a reputation for setting up Asia’s first ecotel hotel in the industry.
Nov 26, 2024, 12:51 pm IST
Zen Technologies Limited gets Patent Grant for T90 Containerized Crew Gunnery Simulator
Zen Technologies Limited announced the Grant of its Indian Patent for the "T90 Containerized Crew Gunnery Simulator" on 25th November 2024. This patent is Company’s 20th Patent awarded in the calendar year 2024, and the 10th in the financial year 2024-25. Proficiency in Tank Gunnery is the most important criteria in evaluating an Armoured Regiment’s ‘Fitness for War’. The responsibility for gunnery lies with the Commander and Gunner in a tank crew. The T90 Containerized Crew Gunnery Simulator (T90 CGS) is an advanced, innovative system designed to provide a highly immersive and interactive training experience to increase the gunnery proficiency of the T-90 tank commander and gunner. The system replicates the battlefield conditions and operational tasks of the T90 tank, providing realistic targets with AI reactions.
Nov 26, 2024, 12:27 pm IST
TCS Expands Partnership with SPARSH, India’s Pension System for Defence Personnel, by Three Years
Tata Consultancy Services, a global leader in IT services, consulting, and business solutions, has signed a three-year extension of its contract for SPARSH (System for Pension Administration – Raksha), a government of India initiative to streamline pension distribution for over 30 lakh defence pensioners. TCS will not only maintain the hardware and software of the programme for three years but also deliver key updates to the system. TCS started the rollout of pension processing on SPARSH in October 2020, implementing an integrated, secure, and efficient pension disbursement solution for India’s defence personnel. The digital transformation has resulted in significantly reduced pension processing timelines from 12 to 18 months to just 14 days. Additionally, first-time pension payments are now processed within five to seven days. A key achievement for TCS has been its role in implementing the One Rank One Pension (OROP) scheme, which ensures that defence personnel of the same rank and length of service receive the same pension, regardless of when they retire. TCS has enabled the processing time to reduce from six to eight months to just two weeks, allowing the disbursement of OROP to 1.8 million eligible pensioners in a record time of 15 days. Recently, The Controller General of Defence Accounts (CGDA) presented TCS with a certificate of appreciation for this accomplishment. As part of the expanded deal, TCS will continue to deliver transparency and efficiency to the pensioners, continuing to support the application and development efforts. Moreover, TCS is also in discussion with the department to potentially develop a digital solution that would allow pensioners to make reverse payments in the event of overpayments.
Nov 26, 2024, 11:56 am IST
Emcure Pharma Jumps 10% as Kotak Securities Upgrades to 'Buy'
Shares of Emcure Pharmaceuticals surged 10% to Rs 1,443 on November 26 following an upgrade from Kotak Securities, which revised its rating from 'Add' to 'Buy' and raised the target price. The brokerage set a new target of Rs 1,680, indicating a potential upside of 28% from the previous close of Rs 1,311 on the NSE. Emcure Pharma shares have also gained 7% over the past week, reflecting growing investor confidence in the company's prospects for upcoming quarters.
Nov 26, 2024, 11:38 am IST
Power Grid Wins Bid to Develop Inter-State Transmission System in UP and Rajasthan
Power Grid Corporation of India has emerged as the successful bidder to establish an inter-state transmission system spanning Uttar Pradesh and Rajasthan. The project includes setting up 765/400kV substations in Uttar Pradesh, constructing 765kV and 400kV transmission lines across both states, and carrying out augmentation and bay extension work at existing and under-construction substations in the region.
Nov 26, 2024, 11:01 am IST
Vodafone Idea Soars 15% on Reports of Bank Guarantee Waiver for Telecom Operators
Vodafone Idea shares surged up to 15% on November 26 following reports that the Union Cabinet has approved a bank guarantee waiver for telecom operators. The waiver reportedly applies to spectrum acquired in auctions conducted before 2022, offering significant relief to the sector.
Nov 26, 2024, 10:28 am IST
BHEL Secures Major Contract for Khavda-Nagpur HVDC Project with Power Grid Corporation
Bharat Heavy Electricals Limited (BHEL) has received a notification of award for the Khavda-Nagpur HVDC project from the Power Grid Corporation of India. The contract has been secured by a consortium of BHEL and Hitachi Energy India. The project involves establishing +800kV, 6000MW high voltage direct current (HVDC) terminal stations at Khavda Pooling Station-2 (HVDC) in Gujarat and Nagpur (HVDC) in Maharashtra, facilitating the transmission of renewable energy from the Khavda region to Nagpur.
Nov 26, 2024, 9:38 am IST
Opening Bell
Following conflicting global signals, the Indian benchmark indexes opened Tuesday on a positive note. The Sensex began the day over 80,400, while the Nifty opened at 24,343.30.
Nov 26, 2024, 9:13 am IST
Nifty Forecast Today By Akshay Chinchalkar, Head of Research at Axis Securities
The nifty rose 1.3% yesterday, recording its second straight gain of more than a percent, a streak that was seen last December. The rally created a spinning top candle, representing bull-bear equilibrium. Yesterday's gap-up means that 23,956 becomes critical support, a daily close below which will re-embolden bears. On the upside, 24,340 - 24,530 represents a pivotal hurdle area, followed by 24,700 - 24,800 where the 50-day and the 100-day averages are clustering.
Nov 26, 2024, 9:11 am IST
Rupee Vs Dollar
Tuesday saw the Indian rupee start at 84.31 per dollar, up from Monday's closing of 84.28.
Nov 26, 2024, 9:03 am IST
Stock Market Outlook Today By Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services
The two-day rally in the market is unlikely to sustain beyond a point since earnings concerns are major headwinds. The impact of short covering and the positive sentimental effect of the Maharashtra election results will be temporary. Too much should not be read into the FIIs turning big buyers yesterday since that was due to MSCI rebalancing with higher weightage to HDFC Bank. Leading banks will remain resilient due to consistent buying and reasonable valuations. In the coming days attention will be focused on what President Trump will do. Trump’s selection of Scott Bessent as the Treasury Secretary is a positive from the market perspective since he is regarded as a fiscal conservative. This can help bring down the bond yields in the US thereby favouring EMs. But as of now, the dollar index above 107 is a headwind. A sustained rally in the market can happen only when indicators of earnings revival emerge. This is sometime away.
Nov 26, 2024, 9:01 am IST
Crude oil price forecast for today by Mohammed Imran – Research Analyst, Sharekhan by BNP Paribas
Crude oil prices rallied last week amid the renewed geo-political conflict between Ukraine-Russia intensified with Ukraine looking to hit Russia’s deeper geographical regions with the help of UK’s and US new missile system which has prompted Russia to infuse ICBM to Ukraine while it had warned of a global conflict that could raise the risk of oil supply disruption. West Texas Intermediate Crude oil futures for January closed up .14 or about 1.6% at .24 a barrel. WTI crude futures gained nearly 6.5% in the week and Brent crude futures settled at .17 a barrel, gaining {live-blog}.94 or about 1.27%. The economic data from Eurozone remain disappointing with manufacturing and services staying in contraction. On the downside for crude oil the appointment of Scott Bennetsen as the next US treasury chief, is negative for oil market as he is vocalist for boosting US production by 3 mbpd. Crude oil remains a weak counter in terms of demand, hence in the absence of major news of geo-political conflicts escalation, crude oil prices will remain a sell on rise counter as in medium to long term we see prices heading south towards support of . In short term crude oil prices to trade volatile in the range of -.
Nov 26, 2024, 8:31 am IST
Nifty Bank Outlook Today
“Nifty Bank showed strength by reclaiming its 10-day, 20-day, and 50-day moving averages, indicating a revival of positive momentum. The daily RSI is edging closer to the 60 mark, indicating improving strength. However, the unfilled gap from today’s session could act as a short-term overhang, potentially leading to a mild pullback in the coming days. Nifty Bank faces resistance around 52,600, which, if surpassed, could pave the way for further upward movement. The support range remains slightly wider, at around 51,270,” said Om Mehra, Technical Analyst, SAMCO Securities.
Nov 26, 2024, 8:04 am IST
Strong Close Above 52,000 Sets Bullish; Tone for Nifty Bank; 52,500 in Focus
“Despite closing on a robust note, the index remains near a crucial resistance zone that has served as a formidable barrier since early October. Closing above the psychological level of 52,000 reinforces a bullish outlook, with the 52,000–51,700 range acting as immediate support. A decisive move beyond either of these levels will be critical in shaping the near-term direction. Furthermore, the index’s close above the 20-day moving average (DMA) and RSI above the 50 underscore its positive momentum,” said Dhupesh Dhameja, Derivatives Analyst, SAMCO Securities.
Nov 26, 2024, 8:04 am IST
Nifty Bank Outlook By Dhupesh Dhameja, Derivatives Analyst, SAMCO Securities
Nifty Bank index has adopted a bullish-to-neutral stance, trading just below the critical resistance of 52,300–52,500. This zone, reinforced by heavy call writing, has been a strong barrier since October. A clear breakout above this level is essential to sustain the ongoing rebound, potentially triggering short covering and propelling the index toward the next resistance at 53,000–53,300. The index’s sustained close above the psychological level of 52,000 provides immediate support, with the 52,000–51,700 range offering a solid base reinforced by significant put-writing activity. Pullbacks are likely to attract renewed buying interest, favouring a "Buy on Dips" strategy. This aligns with the prevailing buying momentum and short-term recovery. However, if the index fails to sustain above 51,700, selling pressure could emerge, dragging the index toward 51,300–51,000. As long as buyers maintain control near support levels, the outlook remains optimistic for further upside.
Nov 26, 2024, 8:04 am IST
Bank Nifty Options Market Insights By Dhupesh Dhameja, Derivatives Analyst, SAMCO Securities
Options activity reflected a bullish undertone among traders, highlighted by significant put-writing throughout the session. The 53,000-strike call recorded the highest open interest (25.07 lakh contracts), while the 51,500-strike put saw notable activity (18.66 lakh contracts). Concentrated positions in the 52,200–52,500 call range and 52,000–51,500 put range point to immediate resistance at 52,500 and strong support near 51,500. Rising put writing between 51,500 and 52,000 highlights solid buying interest, while subdued call writing indicates improving sentiment. The put-call ratio (PCR) rose to 1.30 from 1.16, signalling a strengthening bullish sentiment as buyers maintained their dominance. The "max pain" level at 51,900 suggests this level could act as a pivotal support zone in the short term.
Nov 26, 2024, 8:03 am IST
Nifty Prediction Today By Dhupesh Dhameja, Derivatives Analyst, SAMCO Securities
The daily chart depicts a Doji candlestick pattern, signalling indecision as the index approaches the significant resistance zone of 24,400–24,500, where the 0.382% Fibonacci retracement and 50-DMA converge, coupled with concentrated call writing, indicating strong selling interest. A convincing breakout above this level is essential to affirm the bullish momentum. On the downside, the psychological level of 24,000 serves as immediate support, with a decisive move on either side expected to dictate the near-term trend. Additionally, the index’s sustained close above the 20-day moving average (DMA) and RSI exceeding the 50 level reinforces the positive bias.
Nov 26, 2024, 7:57 am IST
Nifty Outlook Today
“Nifty index exhibits a bullish-to-neutral stance, currently navigating a pivotal resistance zone characterized by robust call writing, alongside the confluence of the 0.382% Fibonacci retracement and 50-DMA. Sustained selling interest at these levels necessitates a strong bullish follow-through to ensure the continuation of the upward trajectory. The index’s hold above the psychological mark of 24,000 reinforces its immediate support, suggesting a favourable “Buy on Dips” approach as long as the index remains above 23,900. A breakout above the 24,400–24,500 zone may trigger short-covering and propel the index toward 24,900–25,000. On the flip side, failure to sustain above 23,900 could invite intensified selling, pulling the index toward 23,500–23,300. Momentum indicators, including daily RSI above 50 and trading above the 10-20 DMA, signal bullish prospects with a potential for further gains,” said Dhupesh Dhameja, Derivatives Analyst, SAMCO Securities.
Options data reflects a balanced sentiment, with notable call and put writing at key levels. The 24,500-strike call exhibited the highest open interest of 80.07 lakh contracts, while the 24,000-strike put attracted significant positions with 58.08 lakh contracts. Key activity centred around the 24,300–24,500 call range and the 24,200–24,000 put range, underscoring immediate resistance at 24,500 and firm support near 24,000. Rising put writing between the 24,000–24,500 levels signal strong buying interest, while muted call writing reflects improving sentiment. The put-call ratio (PCR) slipped to 1.03 from 1.15, hinting at an emerging bullish sentiment. The "max pain" level at 24,250 indicates limited downside risks in the short term.
Nov 26, 2024, 7:56 am IST
Nifty Prediction By Rajesh Bhosale, Technical Analyst - Angel One Ltd
Following a steep decline from the October swing highs, bulls have managed to stage a recovery of nearly 1,000 points from recent lows, supported by positive domestic triggers. While a descending trend-line breakout is evident on the daily chart, the market's cautious undertone persists. The appearance of a small-bodied candle at higher levels reflects hesitation and uncertainty among participants. On the upside, stiff resistance lies in the 24400–24500 zone, aligned with the 89 and 50 DEMA and the 38.2% retracement of the entire fall from all-time highs. Overcoming this hurdle remains a daunting task and only a decisive breach of these levels could pave the way for an extended upmove. Technically, the bullish gap created today also reflects on the weekly chart and holds significance as long as the 23900–24000 range is defended. A breach below this level could nullify the positive impact of the event, potentially resuming the downside trend. Traders should monitor the key levels mentioned and align their trades accordingly, avoiding complacency in their approach. As we approach the monthly expiry, thematic stock-specific moves may dominate.
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