Indian markets opened higher on November 6, buoyed by favorable global sentiment, with the Nifty hovering around the 24,300 mark. The Sensex rose by 187.34 points, or 0.24%, to reach 79,663.97, while the Nifty climbed 40.50 points, or 0.17%, to 24,253.80. In early trading, approximately 1,941 shares advanced, 437 shares declined, and 110 remained unchanged.
Key gainers on the Nifty included HCL Tech, Apollo Hospitals, Tech Mahindra, Britannia, and NTPC. Conversely, Titan Company, JSW Steel, SBI Life Insurance, Tata Motors, and HUL were among the top laggards in today's session.
Given that Asian stocks are also rising in early trading today, the Indian market is off to a negative start as the Gift Nifty traded down ahead of the US Pre-Polls results, trading at a valuation drop of around 63 points from the Nifty Futures Tuesday close. As heavyweight stocks like Power Grid, Tata Steel, Apollo Hospitals Enterprises, Jindal Steel & Power, Trident, and RITES announce quarterly results today, investors may follow stock-specific action as the Indian stock market is predicted to remain volatile ahead of the results of the U.S. election.
LIVE Feed
Nov 06, 2024, 3:09 pm IST
Stock Market Live Updates: Midcap Stocks Skyrocket
The Nifty Midcap 100 index advanced by 1,195.80 points or 2.13% at the time of trading to 57,311.25. The index is near its intraday high of 57,332.75. Stocks like Dixon Technologies, KPIT Tech, Supreme, Kalyan Jewellers, Oil India, OFSS, Persistent Systems, HDFC Amc, HPCL, Torrent Power and BDL surged by 4.5% to 9%.
Nov 06, 2024, 2:12 pm IST
Granules India Reports 4.7% Decline in Q2 Net Profit Amid Revenue Drop
Granules India posted a 4.7% year-on-year decrease in net profit for Q2, recording Rs 97.2 crore compared to Rs 102 crore last year. The company’s revenue declined by 18.7% to Rs 966.6 crore from Rs 1,189.4 crore, while EBITDA also saw a slight drop of 4.8%, landing at Rs 203 crore versus Rs 213 crore in the same period last year. Despite these declines, the EBITDA margin improved to 21% from 18%.
Nov 06, 2024, 1:59 pm IST
Godawari Power Set to Acquire 60% Stake in RG Pigments for Rs 56.75 Crore
Godawari Power & Ispat Ltd has approved a strategic move to acquire up to a 60% equity stake in RG Pigments Private Limited (RGP). The acquisition, valued at Rs 56.75 crore, aims to enhance Godawari Power’s position in the industry by expanding footprint.
Nov 06, 2024, 1:31 pm IST
Rupee Falls to Record Low Amid Stronger Dollar Post-US Election Results
The Indian rupee hit a historic low of 84.25 against the US dollar on Wednesday, November 6, as initial US presidential election results bolstered the dollar, putting pressure on Asian currencies. The rupee slipped 0.15% from its previous close of 84.1075, trading at 84.25 in the morning session. According to a Reuters report, the dollar index surged nearly 1.5% to a four-month high of 104.9, while major Asian currencies faced declines of up to 1.2%.
Nov 06, 2024, 12:46 pm IST
Mankind Pharma Shares Rally as Q2 Profit Soars by 29%
Mankind Pharma saw a robust boost in its stock price following an impressive 29% year-on-year jump in consolidated profit for the second quarter, reaching Rs 658.9 crore compared to Rs 511.2 crore last year. Revenue rose by 13.6% to Rs 3,076.5 crore from Rs 2,708.1 crore, while EBITDA surged by 24.5% to Rs 850 crore, up from Rs 682.7 crore. Additionally, the company's profit margin expanded by 240 basis points to 27.6%, up from 25.2% in the same period last year.
Nov 06, 2024, 12:01 pm IST
Gold Rates In India On November 6th
India gold prices per 10 grams of 24-carat gold saw a rise of Rs.110/- currently at Rs.80,350/- whereas 22-carat gold is priced at Rs. 73,650/- per 10 grams which also increased by Rs.100/-
Sterling Tools Limited, one of the largest automotive fastener manufacturer in India, through its wholly owned subsidiary Sterling Tech-Mobility Limited, has entered into a partnership with Kunshan GLVAC Yuantong New Energy Technology Co., Ltd. ('GLVAC YT'), a wholly owned subsidiary of China's Kunshan GuoLi Electronic Technology Co., Ltd. ('GLVAC'), to manufacture advanced High Voltage Direct Current (HVDC) contactors and relays in India. These components play a key role in controlling the flow of current in electric and hybrid vehicles. This association is expected to generate Rs. 250 crore in business by FY30 and Sterling Tools will bring the niche technology to manufacture and assemble HVDC Contactors and relays locally at a new facility in Bengaluru, India with an investment of around Rs. 40 crore.
Nov 06, 2024, 11:40 am IST
IT Stocks Surge Over 3%
This morning a strong rally is seen in IT stocks as the Dollar gains strength, pushing the Nifty IT index upwards by more than 3%, as all focus is currently on the US Election Outcomes. The shares of IT giants like Infosys, wipro, HCL Tech etc are trading higher around 3%.
Nov 06, 2024, 11:10 am IST
Bitcoin Hits Record High, Surpasses USD 75,000 Mark Amid US Presidential Elections
Bitcoin has reached new heights, surpassing the USD 75,000 mark for the first time in its history on Wednesday, fueled by early exit polls from the US presidential election that showed a narrow lead for Republican candidate Donald Trump. The cryptocurrency surged 8.4%, climbing to USD 75,060, breaking its previous record of USD73,750.
HSJONJUA AEROINFRA Private Ltd. Inks a Position Reservation Agreement with Piper Aircraft, Inc.
Hsjonjua AeroInfra Private Limited has signed a Position Reservation Agreement with Piper Aircraft, Inc. for supply of 2 x Piper Archer DX aircraft. Today, the company has signed an Agreement with Jonjua Air Limited wherein Jonjua Air Limited will operate the aircrafts as an Air Taxi Service from Mohali International Airport. The Piper Archer DX is especially suited for operations as an Air Taxi. It is a diesel-powered aircraft with state of art technology and fuel efficiency. The Air Taxi Service will connect Mohali, Punjab to Shimla Airport and Kullu-Manali Airport in Himachal Pradesh as also religious destinations of Mata Vaishnu Devi in J&K and Badri Nath Ji & Hemkund Sahib in Uttarakhand through nearby Airports. Jonjua Overseas Limited is the Consultant of Jonjua Air Limited.
Nov 06, 2024, 10:38 am IST
Conart Engineers Ltd. Bags An Order Worth 40cr For Civil Work Of Construction
Conart Engineers Limited, a microcap company announces that it has received the prestigious Order for Civil Work of construction of Factory Building, Plant & Ancillary Structure of M/s. Gulnar Plastics Pvt. Ltd. for woven sacks & FIBC Plant at Silvassa worth 40 crore for a completion period of 15 months at site starting from 1st November, 2024 .
Nov 06, 2024, 10:16 am IST
Hindustan Zinc Share Drops Nearly 8%
Hindustan Zinc shares tumbled around 8% in early morning trade after the government announced a 2.5% stake sale through OFS. The stocks today opened at Rs. 520 and is currently down 7.72%
Nov 06, 2024, 10:04 am IST
Titan Shares Drop 2% as Q2 Profit Declines by 25%
Titan Company shares fell by 2% following a significant decline in its Q2 consolidated profit. The company's profit plummeted 25% to Rs 705 crore, compared to Rs 940 crore in the same period last year. However, revenue saw a positive growth of 13.3%, reaching Rs 13,215 crore against Rs 11,660 crore YoY. EBITDA also dropped by 16.4% to Rs 1,133 crore, compared to Rs 1,355 crore in Q2 2023. Additionally, the margin fell by 300 basis points to 8.6%, down from 11.6% in the previous year.
Nov 06, 2024, 9:59 am IST
GAIL India Shares Up 5% Despite Q2 Profit Dip
Shares of GAIL India rose by 5% even as the company reported a marginal decline in its Q2 standalone profit. The profit dropped 1.9% to Rs 2,671.9 crore, down from Rs 2,724 crore in the previous quarter. Revenue also saw a dip of 2.3%, totaling Rs 32,911.7 crore compared to Rs 33,673.8 crore QoQ. EBITDA fell by 17.3% to Rs 3,745 crore from Rs 4,528.1 crore in Q1, while the margin dropped by 200 basis points to 11.4% from 13.4% QoQ.
Nov 06, 2024, 9:59 am IST
Oil India Shares Edge Higher Following Strong Q2 Earnings
Oil India’s shares traded slightly higher following its strong Q2 earnings report. The company posted a 25% surge in profit, reaching Rs 1,834.1 crore, up from Rs 1,466.8 crore in the previous quarter. However, revenue saw a slight decline of 1.6%, totaling Rs 5,246.2 crore compared to Rs 5,331.9 crore QoQ. The company’s EBITDA fell 11.5% to Rs 2,183.2 crore from Rs 2,466 crore in the prior quarter, and its margin dropped by 460 basis points to 41.6% from 46.2%.
Nov 06, 2024, 9:43 am IST
Premier Explosives Secures Rs 89.20 Crore Order from Singareni Collieries for Explosives Supply
Premier Explosives Ltd has been awarded a significant order worth Rs 89.20 crore by state-run Singareni Collieries Company. The contract involves supplying SME explosives, LDC explosives, and related accessories, which will be used for overburden (OB) blasting across various opencast mining projects of Singareni Collieries. This order is set for delivery over a period of two years, marking a substantial win for Premier Explosives in supporting large-scale mining operations.
Nov 06, 2024, 9:22 am IST
Market Opens Higher, Nifty Near 24,300
Indian markets opened higher on November 6, buoyed by favorable global sentiment, with the Nifty hovering around the 24,300 mark. The Sensex rose by 187.34 points, or 0.24%, to reach 79,663.97, while the Nifty climbed 40.50 points, or 0.17%, to 24,253.80. In early trading, approximately 1,941 shares advanced, 437 shares declined, and 110 remained unchanged.
Nov 06, 2024, 9:06 am IST
INR Vs USD
On Wednesday, the Indian rupee began at 84.15 per dollar, down from its closing of 84.10 on Tuesday.
Nov 06, 2024, 8:51 am IST
Bank Nifty Prediction Today By Om Mehra, Technical Analyst, SAMCO Securities
The daily RSI has rebounded from lower levels, now standing above the 50 mark, suggesting improving momentum. Nifty Bank has also reclaimed levels above its 10, 20, and 50 DMAs, highlighting a strengthening trend. The resistance is 52,600, and a move above this level could open the path toward 53,000. The support levels have shifted higher, with initial support at 51,550, followed by 51,300. With the added uncertainty surrounding the outcome of the U.S. Presidential election, traders should remain prepared for heightened volatility in the sessions ahead.
Nov 06, 2024, 8:17 am IST
Oil Prices Dip as Dollar Strengthens Amid Tight US Election Race
Oil prices edged lower on Wednesday as the US Dollar strengthened, following early poll results that showed a close presidential race between Democrat Kamala Harris and Republican Donald Trump. US West Texas Intermediate (WTI) crude slipped by 27 cents (0.4%) to .72 per barrel, while Brent crude futures dropped 35 cents (0.46%) to .18 per barrel.
Nov 06, 2024, 8:16 am IST
Dollar Strengthens as Trump Shows Early Lead in Exit Polls; Bitcoin Also Rises
The dollar gained broadly on Wednesday as initial exit polls in the tightly contested US presidential election indicated a possible edge for Republican candidate Donald Trump. With 10.1% of votes counted in the critical battleground state of Georgia, Trump held 60.9% over Democrat Kamala Harris’s 38.6%, according to Edison Research. The dollar index, which tracks the currency against six major peers like the euro and yen, rose by 0.76% to reach 104.14.
Nov 06, 2024, 8:16 am IST
Asian Markets Climb as Nikkei Gains 2% Following Wall Street Rally
Asian markets saw a positive trend on Wednesday, with most indexes trading higher after Wall Street’s strong performance overnight, driven by anticipation around the US presidential election results. Japan's Nikkei led the gains, rising by 2%.
Nov 06, 2024, 8:16 am IST
GIFT Nifty Hints at Flat Opening for Indian Markets
Early indicators from GIFT Nifty suggest a subdued start for the Indian markets, with the broader index expected to open slightly down by 13 points, or 0.05%. Nifty futures were trading near the 24,256.5 level.
Nov 06, 2024, 8:14 am IST
US Stocks Surge on Election Day Amid Strong Economic Data
In a broad rally on Tuesday, US stocks closed sharply higher as data pointed to robust economic health, though investors prepared for potential volatility as voting continued in a tight presidential election. The Institute for Supply Management reported that its non-manufacturing PMI—a key measure of the services sector—rose to 56.0 in the last month, the highest since August 2022 and well above economist expectations of 53.8. The S&P 500 surged by 70.42 points (1.23%) to 5,783.11, the Nasdaq Composite advanced 259.19 points (1.43%) to 18,439.17, and the Dow Jones Industrial Average climbed 431.42 points (1.04%) to close at 42,227.74.
Nov 06, 2024, 8:05 am IST
Nifty Index: 24,500 level remains a formidable resistance point
“On the daily chart, Nifty is approaching a critical declining trendline formed by connecting its recent swing highs. A close above this trendline could signal the potential for upward momentum. A positive divergence in the hourly RSI adds further optimism for a short-term bullish outlook. However, the 24,500 level remains a formidable resistance point, and a decisive close above it would be pivotal in establishing a clear directional trend. The India VIX spiked to 19.02 during the day, reflecting heightened market volatility, before settling back to 16.12. The support for Nifty remains at 24,000, with the potential for further swings as the U.S. Presidential election outcome has added additional uncertainty,” said Om Mehra, Technical Analyst, SAMCO Securities.
Nov 06, 2024, 7:41 am IST
Bank Nifty Outlook Today By Dhupesh Dhameja, Technical Analyst, SAMCO Securities
The Outlook for Nifty Bank remains cautiously neutral, as the index struggles to maintain upward momentum against significant resistance at the 52,500–52,600 range—a strong barrier in recent trading sessions. Options data underscores this sentiment, with call writers maintaining their positions at higher strikes (52,000–52,500). However, a solid support zone around 50,900 to 51,000, historically a demand area, could attract short-term buyers, potentially setting the stage for a temporary bounce. Traders may consider a "Buy-on-Dips" approach, with immediate support at 50,800. If the index manages to break above 52,500, it may trigger short covering, propelling it toward the next resistance at 53,000. Conversely, failure to hold above the 50,800-support level could invite fresh short positions, with additional support emerging around the 50,300–50,200 area.
Nov 06, 2024, 7:41 am IST
Bank Nifty Options Market Insights By Dhupesh Dhameja, Technical Analyst, SAMCO Securities
Options data reflects a positive sentiment, with aggressive put writing overshadowing call activity, signalling a bullish bias. Key open interest clusters are seen at the 52,500-strike call (22.47 lakh contracts) and the 51,500-strike put (17.78 lakh contracts), indicating high activity in these levels. There’s notable trading in the 52,000–52,400 call range and the 51,500–51,900 put range, with strong resistance from call writers between 52,000 and 52,500 and reliable support from put writers around 51,500 to 51,900. Elevated call writing within the 52,000–52,500 range suggests sellers are reinforcing resistance at these levels, while cautious put writers are establishing support at key zones. The Put-Call Ratio (PCR) has risen from 0.68 to 1.05, bolstering the bullish outlook as put writers gain dominance. The "max pain" level currently sits at 52,000, positioning this as a critical point that could shape near-term trends.
Nov 06, 2024, 7:41 am IST
Nifty Bank Recovers from Lows, Nears Key Resistance with a Gain of 992 Points
The index has been forming a series of higher lows on the daily chart, creating a stable foundation for buyers at lower levels. Currently, Nifty Bank is nearing a crucial resistance zone between 52,500 and 52,600, which has consistently triggered selling pressure over the past month, further reinforced by substantial call writing within this range, said Dhupesh Dhameja, Technical Analyst, SAMCO Securities.
Nov 06, 2024, 7:39 am IST
Nifty Prediction Today By Dhupesh Dhameja, Technical Analyst, SAMCO Securities
On the daily chart, the index found solid support near the 23,800 level, forming a bullish harami candlestick pattern, with the RSI signalling a bullish divergence. Despite regaining the 24,000 mark, the index remains below the 10- and 20-day moving averages (DEMA), which, along with substantial call writing at 24,500 and above, establishes these levels as crucial resistance zones.
Nov 06, 2024, 7:38 am IST
Options Market Insights By Dhupesh Dhameja, Technical Analyst, SAMCO Securities
Options data reflects a cautious outlook, with call writing significantly outpacing put activity, indicating a bearish stance. The highest open interest is concentrated at the 25,000-strike call (79.95 lakh contracts) and the 23,500-strike put (51.33 lakh contracts). Active trading is concentrated in the 24,200–24,500 call range and the 23,800–24,100 put range. Strong resistance from call writers (Bears) in the 24,200–24,500 area contrasts with solid support around 23,800–24,100, reflecting a shift in resistance to lower levels amid bearish sentiment. Elevated call writing within this resistance zone suggests increased confidence among sellers, while put unwinding indicates a strengthening bearish outlook. The put-call ratio (PCR) has dipped from 0.79 to 0.67, reinforcing the cautious sentiment. Currently, the “max pain” level is situated at 23,900, likely playing a pivotal role in influencing the index’s movement.
Nov 06, 2024, 7:38 am IST
Nifty Outlook Today By Dhupesh Dhameja, Technical Analyst, SAMCO Securities
The outlook for the Nifty index is cautiously optimistic, with a bullish-to-sideways bias. The index has reclaimed the 24,000 mark, a level that has bolstered buyer confidence. On the daily chart, it remains above the 23,800-support level, underscoring buyers' resilience at lower levels, as indicated by the bullish harami pattern and RSI divergence. However, the 24,500 mark, reinforced by call writing and the 10- and 20-day DEMAs, acts as immediate resistance. Sustaining below this level may invite additional selling pressure. A break above 24,550 could trigger short-covering, potentially driving the index toward the 25,000 resistances. Conversely, failure to maintain support above 23,800 could lead to further downside, with the next support around 23,500–23,400.
Click it and Unblock the Notifications
Sign in with Google