Stock Market Live Updates: Indian Market Ends Higher For Second Straight Day; Nifty At 19,750

On November 16, Indian benchmark indices extended their winning streak, with the Nifty hovering around 19,750. At the close, the Sensex showed a positive trend, gaining 306.55 points or 0.5%, reaching 65,982.48. The Nifty also posted gains, rising 89.70 points or 0.5% to stand at 19,765.20. The market witnessed 1,964 shares advancing, 1,665 shares declining, and 109 shares remaining unchanged.

Notable gainers on the Nifty included Hero MotoCorp, Tech Mahindra, TCS, HCL Technologies, and Infosys. On the flip side, Axis Bank, Coal India, Power Grid Corporation, Tata Consumer Products, and Adani Enterprises faced losses. In sectoral performance, the information technology index saw a significant surge of nearly 3%, while realty, oil & gas, and auto sectors each gained 1%.

The BSE Midcap and Smallcap indices also registered a positive momentum, both adding 1% to their values. The overall upbeat performance suggests a positive sentiment in the Indian markets, with specific sectors contributing to the upward trajectory.

LIVE Feed

Nov 16, 2023, 3:43 pm IST

Market Close Higher For Second Straight Day; Nifty At 19,750

On November 16, Indian benchmark indices extended their winning streak, with the Nifty hovering around 19,750. At the close, the Sensex showed a positive trend, gaining 306.55 points or 0.5%, reaching 65,982.48. The Nifty also posted gains, rising 89.70 points or 0.5% to stand at 19,765.20. The market witnessed 1,964 shares advancing, 1,665 shares declining, and 109 shares remaining unchanged.

Nov 16, 2023, 3:14 pm IST

Surge In IT Stocks: Nifty IT Index Leads With Nearly 3% Gain

IT stocks take the lead in market gains, with the Nifty IT index emerging as the top performer among sectoral indices, marking a notable 3% increase. All 10 stocks within the index show positive momentum, with Coforge, Mphasis, TCS, Tech Mahindra, and Infosys leading the pack, trading within the range of 2.5% to 6%.

Nov 16, 2023, 2:41 pm IST

TCS Annoounces Fifth Share Buyback; Record Date Set for November 25

Tata Consultancy Services (TCS), India's leading information technology (IT) services provider, takes center stage in Thursday's trading session as it announces its fifth share buyback in six years. The company has designated November 25 as the record date, marking the deadline for determining eligible shareholders participating in the upcoming buyback.

Nov 16, 2023, 2:17 pm IST

Wockhardt Hits 52-Week High Stock Up 13%

Wockhardt has reached a 52-week high, with shares currently trading close to Rs 321.45, a peak it attained earlier today. Notably, the stock has experienced a remarkable 13% increase, contributing to an impressive 82.5% gain over the past six months.

Nov 16, 2023, 1:12 pm IST

Cyient Ltd and Thales Signs LoI To Tackle Climate Change Across Their Business

During a signing ceremony held along with Thales' 70th anniversary in India, Cyient, a global provider of digital, engineering, and technology solutions, and Thales, a leader in global technology in the fields of digital identity, aerospace, defense and security, and aviation, signed a Letter of Intent (LoI). Both parties agreed to collaborate under the LoI to address climate change throughout their respective corporate value chains. In order to bring together its strengths in sharing the objective of a low-carbon future, Cyient Ltd. and Thales have created a dynamic relationship. Their joint endeavour serves as additional proof of their commitment to environmental sustainability and a more sustainable future. “Cyient has partnered with Thales in a shared commitment to lead the way towards a low-carbon future. Together, we are working to build a world where innovation and environmental responsibility come together to build a brighter and more sustainable future. Cyient continues to invest in its ESG roadmap, collaborating with clients and suppliers across the ecosystem,” said Krishna Bodanapu, Executive Vice Chairman and MD, Cyient Ltd.

Nov 16, 2023, 12:36 pm IST

Vikas Lifecare Secures Order For Supply of 40000 Gas Meters From Gujarat Gas Limited To Genesis Gas Solutions

Gujarat Gas Limited, the largest city gas distribution company in India, has placed orders with Vikas Lifecare Limited's material subsidiary, Genesis Gas Solutions (Genesis), for the provision of 40.000 gas metres, valued at a total of INR 495 million. The announcement was made on Thursday. The company Genesis, which develops 'Smart Products' such as Smart Gas Meters & Power Distribution solutions for the infrastructure industry, is 95% owned by Vikas Lifecare Ltd.

Nov 16, 2023, 12:23 pm IST

Som Distilleries and Breweries Reports 45% of The Overall Beer Industry In The State of Madhya Pradesh

Som Distilleries and Breweries Limited on Thursday announced that it clocked a market share of 45% in the overall beer industry in the state of Madhya Pradesh for the month of October 2023. The latest figures reveal that the company has emerged as the preferred choice among consumers, capturing nearly half of the market in Madhya Pradesh. “The latest figures reveal that the company has emerged as the preferred choice among consumers, capturing nearly half of the market in Madhya Pradesh,” said the company in a stock exchange filing,

Nov 16, 2023, 11:00 am IST

Som Distilleries Rises On Promoter Jagdish Kumar Arora’s Stake Purchase

Som Distilleries & Breweries shares soared nearly 1% to Rs 301 apiece on November 16 after insider data disclosed promoter and managing director Jagdish Kumar Arora bought 11,000 shares of the company at an average price of Rs 297 apiece. Jagdish Kumar Arora’s holding in Som Distilleries now stands at 19.67%.

Nov 16, 2023, 10:08 am IST

Rupee Outlook

Rahul Kalantri, VP Commodities, Mehta Equities: According to the daily technical chart, the pair is trading beneath its moving average trend-line support at 83.22, and the RSI is below the 50 level. Examining the technical setup, the MACD indicates negative divergence, and the pair is encountering significant resistance at higher levels. On the daily technical chart, the pair finds support around 83.00-82.85, with resistance positioned at 83.22-83.40. If the pair remains below the 83.22 levels, it may experience further weakness, potentially reaching levels between 83.05 and 82.85. Resistance persists at 83.22-83.40.”

Nov 16, 2023, 9:46 am IST

Bajaj Twins Fall

Bajaj Finance was top bear with a fall of 2%, while its parent Bajaj Finserv dipped nearly 1%. The drop comes after RBI asked Bajaj Finance to stop sanction and disbursal of loans under its two lending products ‘eCOM’ and ‘Insta EMI Card’, with immediate effect.

Nov 16, 2023, 9:45 am IST

Nifty Price

The 50-scrip index was up by 19.15 points or 0.1% to trade at 19,694.60. It opened at 19,674.70, and ranged from 19,698.45 to 19,627.

Nov 16, 2023, 9:45 am IST

Sensex Price

Sensex traded at 65,738.54, up by 62.61 points or 0.10%. The benchmark ranged from 65,742.94 to 65,507.02, after opening at 65,665.87.

Nov 16, 2023, 9:13 am IST

Morning View On The Stock Market

Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services said, "An important trend in the market is the increasing clout of DIIs, HNIs and retail investors and the diminishing influence of FPIs. During August, September October and November till date FPIs cumulatively sold stocks for Rs 83422 crores through the exchanges. During this period DIIs alone bought stocks worth Rs 77995 crores. FPI selling is completely getting neutralised by DII and individual investor buying. This is the reason why Nifty is around 19675, the same level which it was in early August. The resilience of the market and strong up moves on favourable days like yesterday have forced a rethinking in FPI strategy. That’s why they bought for Rs 550 crores yesterday after sustained selling in all other days of November. FIIs turning buyers is favourable for banking stocks, particularly the large caps, which are attractively valued. Automobiles are on a strong wicket."

Nov 16, 2023, 9:08 am IST

Trade Setup For Thursday, 16th November

Aditya Gaggar, Director of Progressive Shares said, "The 15th November trade commenced on a firm note and as the day progressed, the Index compounded its gains to end the day at 19,675.45. On the daily chart, the Index has made a long-legged DOJI candlestick pattern and not only breached its falling trendline but also gave a convincing close above its 50DMA (19,580) which shows bullishness in the markets. Now the next critical hurdle for the Index stands at 19,840 while the downside is protected at a strong support zone of 19,550-19,580. The Auto sector is set to give a much-awaited range breakout and some of the stocks have already given a strong breakout from their respective patterns which indicates the sector will follow suit (Bajaj Auto- Pennant and Pole Breakout, Eicher Motors and Tata Motors- Symmetrical Triangle Breakout). The 12-pack BankNifty needs to clear its hurdle of 44,600 for a stronger rally while the downside is protected at 43,900. From the Energy space, we continued to remain bullish on the OMC's stocks (HPCL- Symmetrical Triangle Breakout). In yesterday's trade, the IT sector breached its immediate hurdle but we will wait for a while to confirm the congestion breakout. The Infra sector has experienced a keenly-awaited Descending Broadening Wedge pattern and we have technical coverage on some of the infra stocks namely ITD Cementation and Welspun Enterprises. The Realty segment is in a different league by registering a new high every day; we have been bullish on the sector for a long time and our stance remain the same (Ajmera and Sunteck Realty)."

Nov 16, 2023, 9:03 am IST

Crude Oil Outlook

Rahul Kalantri, VP Commodities, Mehta Equities: The positive performance of Chinese industrial production and retail sales data provided some support to crude oil prices. Additionally, the upward revisions in demand forecasts for 2023 by OPEC+ and the IEA further bolstered crude oil prices at lower levels. Anticipating continued volatility, we project support for crude oil prices within the range of .30–75.50, with resistance expected at .90–78.50 in today's session. In terms of INR, crude oil finds support at Rs 6,340–6,280 and faces resistance at Rs 6,495–6,570.

Nov 16, 2023, 9:01 am IST

Gold Outlook Today

Rahul Kalantri, VP Commodities, Mehta Equities: Anticipating continued volatility in today's session, we note that gold has support levels at 48-1936, with resistance levels at 74-1984. For silver, support is found at .88-22.72, while resistance is at .24-23.40. In INR, gold is supported at Rs 59,940-59,770, with resistance at Rs 60,250 and Rs 60,430. Silver has support at Rs 71,450 and Rs 70,830, with resistance at Rs 72,550 and Rs 72,930.

Nov 16, 2023, 9:00 am IST

Day Trade Guide

Prashanth Tapse, Senior VP (Research), Mehta Equities : Key hurdles are at 19887, while interweek support lies at 19421, with the 200-day moving average at 18700. Options data suggests a likely trading range of 19100-19800. Positive global catalysts include Biden's efforts on U.S.-China relations, softer U.S. inflation, and optimistic markets. Bullish sentiment prevails with expectations that the Fed has concluded its tightening cycle. Preferred trades involve buying Nifty and Bank Nifty with specified targets. The chart of the day is bullish on SIEMENS, ASHOK LEYLAND, and L&T FINANCIAL. Additionally, a recommended stock to buy is HOMEFIRST FINANCE COMPANY for a momentum play with specific entry, target, and stop loss points.

Nov 16, 2023, 8:48 am IST

Stocks To Trade Ex-Dividend Today

A total of 7 stocks will be in focus on Thursday for trading ex-dividend. These are Bayer Cropsciences, Cigniti Technologies, Container Corporation of India, MSTC, Power Grid, Saksoft, and Sundaram Fastener. Accordingly, their shares will move to BSE and NSE.

Nov 16, 2023, 8:31 am IST

Stocks To Watch

Market watchers are expected to be keeping an eye on the top 10 stocks on Thursday, November 16, which include popular stocks like Paytm, SBI, Yes Bank, Bajaj Finserv, IIFL Finance, and Canara Bank.

Nov 16, 2023, 8:26 am IST

Gift Nifty

Currently, it traded marginally lower to 19,750.5. However, the index opened at 19,764 and ranged from 19,770 to 19,745.0 respectively.

Nov 16, 2023, 8:13 am IST

Market Performance November 15

Sensex skyrocketed by 742.06 points or 1.14% to end at 65,675.93, while Nifty 50 zoomed by 231.90 points or 1.19% to settle at 19,675.45