Indian benchmark indices concluded the trading session on November 15 on a positive note, with Nifty standing above 19,650, driven by widespread buying across various sectors. Eicher Motors, Tech Mahindra, Hindalco Industries, Tata Motors, and Infosys emerged as the top gainers on the Nifty, while Bajaj Finance, Power Grid Corporation, IndusInd Bank, Bajaj Finserv, and Apollo Hospitals experienced losses. Notably, all sectoral indices closed in the green, with capital goods, auto, metal, information technology, oil & gas, and realty witnessing gains in the range of 1-3%. The BSE Midcap and Smallcap indices also registered a 1% increase each.
The robust performance comes after CPI inflation data which dropped to its lowest in four months 4.87% in October 2023 owing to a decline in various product categories.
Also, major Tata stocks held bullish trend after Tata Technologies IPO declared to be open on November 22. This would be the first IPO in 20 years of Tata Group.
Notably, Goldman Sachs has upgraded its outlook on the Indian share market to 'overweight' from 'market weight'. The American investment and financial services provider expects the market to continue to gain in 2024 as India has the best structural growth prospects in the Asia Pacific region owing to economic growth prospects, steady earnings growth and domestic mutual fund inflows, and also on expectations of a supply chain shift from China.
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Nov 15, 2023, 3:37 pm IST
Market Ends Higher; Nifty Surpasses 19,650, Broader Index Sees Buying
Indian benchmark indices concluded the trading session on November 15 on a positive note, with Nifty standing above 19,650, driven by widespread buying across various sectors. Eicher Motors, Tech Mahindra, Hindalco Industries, Tata Motors, and Infosys emerged as the top gainers on the Nifty, while Bajaj Finance, Power Grid Corporation, IndusInd Bank, Bajaj Finserv, and Apollo Hospitals experienced losses. Notably, all sectoral indices closed in the green, with capital goods, auto, metal, information technology, oil & gas, and realty witnessing gains in the range of 1-3%. The BSE Midcap and Smallcap indices also registered a 1% increase each.
Nov 15, 2023, 3:18 pm IST
Eicher Motors Witnesses Continued Upward Momentum, Shares Extend Gains
Eicher Motors shares continue their positive trajectory for the third consecutive day, marking a 5.7% increase. The stock is currently hovering near its all-time high, previously reached on December 31, 2022. Notably, Eicher Motors has experienced a 19.5% gain over the course of this year.
Nov 15, 2023, 2:46 pm IST
India's Trade Deficit Widens Beyond Expectations In October
India grapples with a widening trade deficit in October, surpassing economist estimates as the deficit hits .46 billion. Notably, exports demonstrated a robust 6.2% year-on-year growth, reaching .57 billion, while imports surged by 12.3% year-on-year, totaling .03 billion. Services exports and imports contributed to the economic landscape, standing at .7 billion and .32 billion, respectively.
Nov 15, 2023, 2:38 pm IST
Glenmark Pharma Surges Over 3% On Optimistic Revenue Growth Projection For FY24
Shares of Glenmark Pharma witnessed a gain of more than 3% in Wednesday's trading session, propelled by the company's positive outlook on revenue expansion in the financial year 2023–24. During an earnings conference call, the company unveiled its anticipation of achieving double-digit consolidated revenue growth, projecting an impressive 10–11% increase for the upcoming financial year.
Nov 15, 2023, 2:35 pm IST
Ethos Hits Record High, Soars Over 11% On Robust Q2 Earnings
Luxury watch retailer Ethos experienced a remarkable surge, with shares climbing over 11% to reach a new 52-week high of Rs 2,146 on the BSE. The surge came in the wake of the company's announcement of ambitious store expansion plans and the release of robust earnings for the second quarter of the current financial year (Q2FY24). Ethos reported a substantial 37.2% year-on-year (YoY) increase in profit after tax (PAT), soaring to Rs 18.59 crore in the July-September quarter, compared to Rs 13.55 crore in the corresponding period of the previous fiscal year.
Nov 15, 2023, 2:01 pm IST
Tata Steel Appoints Ashish Anupam as the Vice President
Tata Steel on Wednesday said that it has appointed Mr. Ashish Anupam as the vice president – long products of the company, effective November 15, 2023. Prior to being appointed as the Vice President – Long Products, he was the Managing Director of Tata Steel Long Products Limited, a listed subsidiary company of Tata Steel Limited. He is currently the Chairman of the Board of The Siam Industrial Wire Co. Ltd., TSN Wires Co., Tata Steel Thailand Ltd., and Indian Steel & Wire Product Ltd.
Nov 15, 2023, 1:21 pm IST
Sundram Fasteners Receives A1+ Rating From CRISIL
TVS-Group company Sundram Fasteners today has received CRISIL A1+ rating for its short term debt and commercial paper instruments.
Nov 15, 2023, 12:52 pm IST
Gland Pharma Receives Tentative Approval For Angiotensin II Injection
Gland Pharma Limited, a generic injectable-focused pharmaceutical company, received tentative approval from the United States Food and Drug Administration (US FDA) for Angiotensin II Injection, 2.5 mg/mL Single Dose Vial. Gland Pharma thinks it is the sole business that filed for this product at first, and it could be eligible for 180 days of exclusivity for generic drugs. After receiving final clearance, Gland Pharma will launch the drug alongside its marketing partner. IQVIA estimates that for the 12 months ending in September 2023, the Angiotensin II Injection, 2.5 mg/mL Single Dose Vial (RLD: Giapreza Injection) will generate about USD 38 million in sales in the United States.
Nov 15, 2023, 12:46 pm IST
AIA Engineering Shares In Green On Acquiring Additional Shares In Vega Industries Peru
The company today has subscribed an additional 3,65,328 shares along with Vega ME in the ratio of 1% by the·company and 99% by Vega ME. The acquisition has been made up of 3,65,328 shares at the total cost of 3,65,328 Soles (3654 Soles by AIA Engineering Limited and 3,61,674 Soles by Vega Industries (Middle East), total equivalent to approx. USD 99,000.
Nov 15, 2023, 11:55 am IST
Suzlon Energy Hits 52-Week High Today, Gains 391% In 6-Months
Multibagger power sector stock Suzlon Energy shares hit 52-week high today and gained 4.63% on BSE to Rs 40.43 per share after inclusion in MSCI India Index. Suzlon Energy figured among 9 stocks that are scheduled to be added to the index as part of the rejig that will be effective from November 30, 2023. Suzlon Energy stocks gained 391 in last 6-months and gained 102% in last 3-months.
Nov 15, 2023, 10:57 am IST
Gold Price Today, Nov 15: Sharp Jump In Yellow Metal, Silver Prices
Gold prices in India today witnessed a rally after the dollar and Treasury yields retreated after softer-than-expected U.S. consumer inflation data fuelled bets that the Federal Reserve may be done hiking interest rates, according to a Reuters report. Silver prices too saw a sharp surge today after the rise by Rs 1700 in a single day to Rs 74,700 per kg on Wednesday.
Current price of 22 carat of 10 grams gold in India is Rs 55,950 after prices soared by Rs 400. Price of 24 carat of 10 grams yellow metal is Rs 61,040 on November 15. Cost of 100 grams of 22 carat gold in India is Rs 5,59,500 and price of 100 grams of 24 carat gold in India is Rs 6,10,400 today.
Small cap stock from the finance sector Manappuram Finance Ltd shares jumped 8.21% at 10:07 am today after the company reported its profit for the quarter jumped by 36.91% year-on-year (YoY) to Rs 560.65 crore as against Rs 409.49 crore for the corresponding quarter of last year. The board of directors of Manappuram Finance also declared an interim dividend of Rs.0. 85 (Eighty-Five Paise Only) per equity share of the face value of Rs 2.
Nov 15, 2023, 10:00 am IST
Stock Tardes Ex-Dividend Today
8 stocks are in focus on Wednesday as they will trade ex-dividend today. Some of the renowned companies who will be ex-dividend are Emami, Indrapastha Gas, and Chambal Fertilisers & Chemicals. Others are CFF Fluid Control, PDS, SAT Industries, Indian Toner & Developers, and Steelcast. They have announced their Q2 earnings for FY24.
Nov 15, 2023, 9:44 am IST
Market Outlook Today
Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services said, "The October US inflation data is a game changer for the stock market. The 3.2% October inflation print is lower than expected. More importantly, the mere 0.2% MoM increase in core inflation is hugely positive. The takeaway from these numbers is that the Fed is done with rate hikes and the timeline for rate cuts in 2024 is likely to be advanced. The sharp recovery in US markets will be reflected in India, too. Short covering can add to the rally. FIIs are likely to turn buyers, lest they miss out on the rally in the best performing large economy in the world. Leading financials which were weighed down by FII selling will bounce back.
Decline in CPI inflation in India is also a favourable factor.
Across sectors, a rally is likely. Financials, automobiles, real estate ,cement and platform digital companies will attract investment from DIIs, HNIs and retail investors. The tug of war between FIIs and DIIs is clearly in favour of DIIs."
Nov 15, 2023, 9:43 am IST
USD-INR Outlook Today
"We had expressed our disclination to pursue major upside, despite a strong push into the 83.3-83.4 region on Friday, and had wanted to see it as an aberration, given there was no follow through buying. If 83.02 holds expect a pull back not exceeding 83.19, but the prospects of extended slippage to 82.78, appears higher," claimed Anand James, Chief Market Strategist at Geojit Financial Services.
Nov 15, 2023, 9:42 am IST
Nifty Derivative Outlook Today
Anand James, Chief Market Strategist at Geojit Financial Services stated, "Nifty weekly contract has highest open interest at 19500 for Calls and 19400 for Puts while monthly contracts have highest open interest at 19500 for Calls and 19000 for Puts. Highest new OI addition was seen at 19500 for Calls and 19100 for Puts in weekly and at 20100 for Calls and 19100 for Puts in monthly contracts. FIIs increased their future index long position holdings by 3.00%, decreased future index shorts by 4.06% and increase in index options by 1.70% in Call longs, 0.23% in Call short, 3.19% in Put longs and 0.13% in Put shorts."
Nov 15, 2023, 9:42 am IST
Nifty Outlook Today
Anand James, Chief Market Strategist at Geojit Financial Services said, "Despite a down close, Monday saw a finish above the VWAP, for the first time in last five days. This encourages us to be more confident about the 19840 trajectory which we have been playing since last week. In anticipation of the same, we had pushed the downside marker higher to 19433/19370 as well, which may remain the turnaround points until 19840 is cleared."
Nov 15, 2023, 9:28 am IST
Bank Nifty
Bank Nifty traded at 44,331.45, higher by 440.20 points or 1%. The bechmark has also hit an intraday high of 44,408.55.
Nov 15, 2023, 9:28 am IST
Nifty 50 Price
Nifty traded at 19,612.85, higher by 169.30 points or 0.87%. The 50-scrip benchmark touched an intraday high of 19,653.35 in the opening bell.
Nov 15, 2023, 9:28 am IST
Sensex Price
Sensex traded at 65,486.69, up by 552.82 points or 0.85%. The 30-scrip benchmark climbed to touch an intraday high of 65,578.95.
Nov 15, 2023, 8:50 am IST
Goldman Sachs Upgrade India Market Outlook
Goldman Sachs has upgraded its outlook on the Indian share market to 'overweight' from 'market weight'. The American investment and financial services provider expects the market to continue to gain in 2024 as India has the best structural growth prospects in the Asia Pacific region owing to economic growth prospects, steady earnings growth and domestic mutual fund inflows, and also on expectations of a supply chain shift from China.
Nov 15, 2023, 8:49 am IST
CPI Inflation
Markets will react to India's CPI inflation data which dropped to its lowest in four months 4.87% in October 2023 owing to a decline in various product categories. In the previous month, the retail inflation rate stood at 5.02%. Inflation is currently closer to RBI's medium-term target of 4% and below the upper tolerance limit for the second consecutive month.
Nov 15, 2023, 8:38 am IST
Intraday Picks
Shiju Koothupalakkal - Technical Research Analyst, Prabhudas Lilladher has recommended buying 3 Stocks. These are --- 1)BUY RITES at 455.55 stoploss 440 Target 490; 2) BUY UCO BANK at 39.60 stoploss 38 Target 43; and 3)BUY KALPATARU POWER at 658.60 stoploss 635 Target 700
Nov 15, 2023, 8:27 am IST
Gift Nifty
Currently, Gift Nifty traded at 19,731.5, down by 17 points or 0.09%. The index opened at 19,748.5, and traded in the range of 19,760.0 to 19,718.0.
Nov 15, 2023, 8:20 am IST
For Today's Trade
Ajit Mishra, SVP - Technical Research, Religare Broking said, "We are largely mirroring the US markets on the benchmark front however there is no shortage of stock-specific trading opportunities, thanks to prevailing outperformance of the broader indices and rotational buying across the sectors. We thus reiterate our view to focus more on stock selection and prefer long trades until the Nifty breaks 19,200."
Nov 15, 2023, 8:19 am IST
Stocks In Focus
On November 15, market observers are likely to be paying attention to stocks like Tata Motors, Yatra Online, Indraprastha Gas, Mahindra Logistics, and Aster DM Healthcare, among other top stocks. As a result, it is worthwhile to keep an eye on the stocks listed below, as they may see some price movement during the trading session.
Nov 15, 2023, 8:17 am IST
Market Previous Performance
Trading in the Indian stock market was closed on Tuesday due to the celebration of Diwali Balipratipada across India. On Monday, Sensex closed at 64,933.87, lower by 325.58 points or 0.50%. Nifty 50 ended at 19,443.55, down by 82 points or 0.42%. Further, Bank Nifty dipped by 105.40 points or 0.24% to end at 43,891.25.
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