Indian equities ended higher on Tuesday following a positive handover from global indices. At market close, the benchmark index Sensex closed 0.42% higher at 65,930.77, and the Nifty was up 0.45% at 19,783.40 points. Among sectors, Healthcare, realty, and metal were up 1% each, while oil & gas and capital goods slumped 0.5% each.
BSE Sensex gained 256 points or 0.39% to 65,911 and NSE Nifty soared by 85 points or 0.44% to 19,779 at 11: 18 am on Tuesday as IT stocks extended gains amid global stock rally on prospects that US interest rates have peaked. Nifty Bank gained 141 points to 43,726 and Nifty Midcap jumped 21 points to 41,877 at 11:21 am today.
The top gainers from the pack of Sensex include JSW Steel, Titan Company, Reliance, HDFC Bank, and Tata Steel. Meanwhile, shares of NTPC, Tech Mahindra, Maruti Suzuki, and Power Grid Corp figured in the list of top laggards.
Broad-based buying was seen across indices with consumer durables, IT, auto, banking and realty stocks outperforming. Also, major steel stocks witnessed substantial upside. Oil and gas, and energy stocks recorded slight pullback.
Meanwhile, midcap and smallcap stocks rallied as well.
In the early trade, Gift Nifty was broadly flat, while Asian markets traded mixed despite Wall Street gaining overnight. Globally, investor participation is likely to be lower on account of Thanks Thanksgiving holiday on Thursday. Also, traders will await for US existing home sales data and FOMC meeting minutes scheduled for tomorrow.
On Tuesday, Sensex and Nifty 50 ended in red owing to the weak global economy which has impacted foreign inflows and sentiments on a broader scale. Also, RBI's scrutiny in banking and NBFC has led to intense pressure on these stocks. Sensex finished at 65,655.15, lower by 139.58 points or 0.21%, while Nifty 50 ended at 19,694 down by 37.80 points or 0.19%.
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Nov 21, 2023, 3:15 pm IST
IRCTC Shares Rise On Securing Approval From Railway Board For 7-Year Tenders
IRCTC shares traded in the green on Tuesday, a day after the company informed that the Ministry of Railways (Railway Board) has permitted IRCTC to go for long-term tenders for the period of 7 years (5+2 years subject to satisfactory performance on completion of initial 5 years’ term), through clustering of trains. The stock was up 1.23% at Rs 709.80 per share at 3:13 pm IST.
Nov 21, 2023, 2:41 pm IST
Adani Shares: Most Adani Group Stocks Witness Rally, Investors Become Richer By More Than Rs 20,000 Crore
Most Adani group shares traded in the green on Tuesday amidst positive trading on Dalal Street. Adani group's flagship firm Adani Enterprises shares were seen trading 3.05% higher at Rs 2214.55 per share at 12:41 pm IST today. The share price of Adani Wilmar, Adani Total Gas, and Adani Energy Solutions was up almost 2%, while the share price of New Delhi Television Ltd. gained 1.28% in the intraday trading. The positive trading in Adani group stocks added over Rs 20,960.2 crore in investor wealth in intraday trading on Tuesday.
IREDA IPO Opens Today; All Categories Oversubscribed
The Rs 2,150 crore IPO of Indian Renewable and Energy Development Agency (IREDA) sailed through on day 1 of the bidding process on Tuesday.
By the time of writing this update, IREDA IPO was subscribed 1.26 times around 1.50 pm. The retail category was subscribed 1.28 times, while the NII portion garnered 1.30 times bids and the qualified institutional buyer (QIBs) portion received 1.21 times bids. The employee portion was also completely subscribed at 1.21 times.
Nov 21, 2023, 1:51 pm IST
IDBI Bank Notifies About Change In Board of Directors
Shri Ajay Prakash Sawhney, additional director on the Board (DIN 03359323) has been appointed on Tuesday as an Independent Director not liable to retire by rotation of IDBI Bank, to hold office for a term of 4 consecutive years commencing w.e.f. August 28, 2023.
Nov 21, 2023, 1:50 pm IST
Infosys Collaborates With Proximus To Offer Fiber And New Digital Services
In order to wrap up an IT modernization and consolidation project, Infosys today announced the completion of yet another fruitful partnership with Proximus, the top supplier of digital services and communications solutions in Belgium. As part of the project, Infosys will integrate essential elements of a Proximus affiliate's IT stack with the main IT stack, allowing it to provide new digital services and fiber to a larger number of its clientele. Infosys used an outcome-based strategy as a management partner in the project to integrate the ecosystems of Proximus and its affiliates. The highly complex project, which involved more than 70 applications and several vendors, was effectively finished on schedule and within budget. In order to satisfy future needs, the affiliate's technical stack was updated, resulting in a faster time to market and a wider range of products. The partnership expands on Infosys and Proximus's 25-year history of working together to develop, transform, and support Proximus' IT solutions.
Nov 21, 2023, 1:21 pm IST
Strides Receives USFDA Approval For Levetiracetam Oral Solution
On Tuesday, the shares of Strides Pharma Science were trading 1.68% higher at Rs 498.80 apiece after announcing that its step‐down wholly owned subsidiary, Strides Pharma Global Pte. Limited, Singapore, has received approval for Levetiracetam Oral Solution USP, 100 mg/mL, from the United States Food & Drug Administration (USFDA). The Levetiracetam Oral Solution has a market size of ~US Mn per IQVIA. The product will be manufactured at the company’s facility in Bengaluru. The company has set a target to launch ~ 60 new products over three years in the US.
The company at its meeting held today i.e., 21 November 2023, has allotted 50,000 Secured Redeemable Non-Convertible Debentures (‘NCD’) with a coupon rate of 7.79% p.a., at the face value of Rs. 1 Lakh each, aggregating to Rs. 503.17 Crore. The instrument has been rated “CRISIL AAA/ Stable” by CRISIL Limited & “IND AAA/Stable” by India Ratings. The tenor of the instrument is 3591 (Residual Days) and 20 September 2033 has been fixed as redemption date.
Nov 21, 2023, 12:31 pm IST
Rushil Decor receives IGBC Green Building certification for its MDF manufacturing unit
The Indian Green Building Council (IGBC) has recognised Rushil Décor's new MDF board facility in Visakhapatnam, Andhra Pradesh as a green building. To obtain this green accreditation, the company's Visakhapatnam factory implemented a number of environmentally beneficial practises, such as installing a rainwater harvesting system, treating waste water, energy conservation, utilising recycled and environmentally friendly products, and lowering carbon footprints.
Nov 21, 2023, 12:00 pm IST
Som Distilleries To Expand, Airtel Plans Extends 5G Coverage to 3 states
Som Distilleries gets excise department nod for proposed expansion of beer capacity at Hassan plant. Airtel extends 5G coverage to all 34 districts of Maharashtra empowering 4.1 million customers to enjoy the power of 5G. 40 districts of Uttar Pradesh West & Uttarakhand extends serving almost 2.3 million customers with 5G connections.
Nov 21, 2023, 11:46 am IST
Petronet LNG Block deal
Petronet LNG currently trades at Rs. 196.40/-, up by 0.64%. Almost a crore shares (0.7% equity) worth ₹201 crores changes hands at an average ₹196/share via block deal. Talbros & Titagarh Rail buzzing in trade, up 14% & nearly 8.5% respectively.
Nov 21, 2023, 11:18 am IST
Nifty rises by 83 points, Sensex claiming heights with 260 points at 11 , Laurus Labs increased Laurus Bio stake, KEC International gets new orders
Nifty risen to 19778 while Sensex In Green at 65900 range. Laurus Lab shares price have surged by 2.57% today, currently trading at Rs. 375.55/- after it declared increasing stake of 87.59% in Laurus Bio. KEC international receives orders worth Rs. 1,005/- crores from various businesses.
Nov 21, 2023, 10:49 am IST
Nifty Surges to 0.43% & Sensex In Green by 0.38%, FII Decreases Futures Position
Nifty remains shinning with 81 points, reaching 19775 since the opening and Sensex climbs by 255 points stabilising at 65900 points. FIIs decreased their future index long position holdings by 4.69%, decreased future index shorts by 1.38%, and in index options by 2.34% in Call longs, 0.95% in Call shorts, 5.25% increase in Put longs and 5.18% increase in Put shorts.
Nov 21, 2023, 10:25 am IST
Nifty Pharma Jumps 0.74%, Nifty IT Up by 0.41%, Nifty Auto climbs 0.22%, Nifty Bank Up by 0.3%, SBI Cards Gets Downgraded
Sensex remains in green with 228 points or 0.35% while Nifty trades 0.4% higher or 76 points above the previous closing. Tata Steel, Coal India, and HDFC Bank gain the highest volume in the beginning session. InCred Financial Services has downgraded SBI Cards gets hit after the recent RBI increased the risk weight on credit cards. However, CRISIL ratings keep the SBI Card ratings unchanged.
Nov 21, 2023, 10:04 am IST
Sensex Climbs 0.36%, Nifty Rises by 0.39%, Adani Incorporates New Subsidiary Company
At 10 am, Sensex is up by 240 points reaching 65,890 while Nifty surges by 80 points at currently floats at 19775 range in the first hour of today's session. Adani Enterprise have initiated a new company Mumbai Travel Retail Private Limited Macau (MTRPL) to bid for the tender of duty-free liquor and tobacco shops in Macau International Airport.
Nov 21, 2023, 9:35 am IST
Nifty 50 Price
Nifty 50 opened at 19,770.90, and touched an intraday high and low of 19,788.95 and 19,754.05 respectively. Currently, the benchmark is performing at 19,785.60, up by 91.60 points or 0.47%.
Nov 21, 2023, 9:35 am IST
Sensex Price
The 30-scrip benchmark traded at 65,947.58, up by 292.43 points or 0.46%. It was near its intraday high of 65,957.43. The index opened at 65,860.46, and has extended its gains.
Nov 21, 2023, 9:24 am IST
Rupee Outlook Tuesday
Rahul Kalantri, VP Commodities, Mehta Equities: Upon analyzing the daily technical chart, it is evident that the pair is trading above its moving average trend-line support level of 83.20, with the RSI holding above 50 levels. The technical setup reveals positive divergence in the MACD, and the pair successfully breached its resistance level of 83.35. Based on the daily technical chart, the pair has support at 83.20-83.05, while resistance is positioned at 83.55-83.70. If the pair maintains levels above 83.35, it may exhibit additional strength towards the 83.55-83.70 range. Notably, support is established at 83.20-83.05.
Nov 21, 2023, 9:23 am IST
Crude Oil Prices
Rahul Kalantri, VP Commodities, Mehta Equities: Expectations are for crude oil prices to remain volatile in today's session. The support for crude oil is identified at .10–76.50, with resistance noted at .50-79.20 in today's trading session. In terms of INR, crude oil finds support at Rs 6,450-6,370, while resistance is anticipated at Rs 6,632-6,600.
Nov 21, 2023, 9:22 am IST
Gold Price Outlook
Rahul Kalantri, VP Commodities, Mehta Equities: Gold and silver prices found support as the U.S. dollar index significantly decreased, reaching an 11-week low. U.S. 10-year bond yields also remained below 4.45%. Expectations are for continued volatility in today's session. Gold is anticipated to have support at 74-1960, with resistance at 98-2011. Silver's support is projected at .55-23.40, and resistance at .10-23.25. In INR, gold is expected to find support at Rs60,580-60,460, and resistance at Rs 61,010, 61,230. Silver in INR may have support at Rs72,250-70,880, and resistance at Rs 73,870, 74,430.
Nov 21, 2023, 9:21 am IST
Bank Nifty Forecast
Vaishali Parekh, Vice President - Technical Research, Prabhudas Lilladher: BankNifty witnessed a flat closing forming a Doji pattern on the daily chart taking support near 43450 zone and is hovering near the weak zone with bias precariously placed. As mentioned earlier, the index has got the important support zone near 43300 zone of the 200 period MA and a decisive breach below shall further weaken the trend to turn bearish. Bank Nifty would have a daily range of 43200–43900 levels.
Nov 21, 2023, 9:20 am IST
Nifty Forecast For The Day
Vaishali Parekh, Vice President - Technical Research, Prabhudas Lilladher: Nifty once again continued with the consolidation near the 19700 zone with an Inside Bar candle pattern with tough resistance near the 19800 zone and downside 19650 maintained as the support zone. The index is moving sideways as of now and would need a decisive breach on either side for confirmation of further clear directional move. The support for the day is seen at 19600 while the resistance is seen at 19850.
Nov 21, 2023, 8:56 am IST
Pre-Market Opening Comment
Prashanth Tapse, Senior VP (Research), Mehta Equities: The GIFT Nifty rose 67 points to 19,809, driven by dovish Federal Reserve expectations. FOMC minutes at 11:30 PM IST are eagerly awaited for signals on the rate hike cycle. Speculation grows about a Fed rate cut in H1 2024. Bulls need Nifty above 19,889 for a victory. Positive Wall Street cues may boost sentiment. Crossing 19,889 signals a festive atmosphere. Corrective declines to Nifty 19,621 may find support. Options suggest a range of 19,100-19,800. Tata Technologies IPO (Nov 22) and IREDA IPO (Nov 21) have 'Subscribe' ratings. Nifty (19,694) buy with stop at 19,421, targets at 19,807, 19,889, and aggressive targets at 20,000. Bank Nifty (43,585) buy in 43,000-43,150 zone, stop at 42,671, targets at 44,000, 44,500, and aggressive targets in 45,100-45,500 zone. Preferred stocks for trading on intraday weakness with an inter-week perspective are INDIGO, SIEMENS, MUTHOOTH FINANCE, TATA CONSUMER, and TITAN.”
Nov 21, 2023, 8:38 am IST
Stocks To Trade Ex-Dividend Today
Shares like EID Parry, EPL, Gillette India, Gujarat Pipavav Port, National Peroxide, ONGC, RMC Switchgears, Senco Gold, Sun TV Network, Talbros Engineering, and Tide Water Oil will trade ex-dividend for their dividend paying in the range of Re 1 per share to a whopping Rs 50 per share.
Nov 21, 2023, 8:12 am IST
Tata Stocks In Focus
Major Tata stocks will be in focus especially Tata Motors, TCS, Tata Steel, Tata Power, and Tata Motors DVR among others. They will see movement as Tata Technologies IPO will be opened for bidding for anchor investors on Tuesday ahead of the public offer between November 22-24. Tata Tech is first IPO of Tata Group in 20 years.
Nov 21, 2023, 8:09 am IST
Stocks To Watch
On Tuesday, 21st November hot stocks like Tata Power, Oberoi Realty, Container Corporation of India Limited (CONCOR), Adani Enterprises and Tech Mahindra are among the top 10 stocks likely to remain in focus under the radar of market watchers.
Nov 21, 2023, 8:07 am IST
Market Performance Yesterday
Sensex finished at 65,655.15, lower by 139.58 points or 0.21%, while Nifty 50 ended at 19,694 down by 37.80 points or 0.19%.
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