BSE Sensex, NSE Nifty: All you need to know about markets today | HDFC Bank, Tube Investments stocks in the news

Stock markets ended at record closing high today. Nifty closed above 13000 for the first time ever. Indian stock markets scaled new peaks to end higher for the third straight day. The benchmark indices ended at a record close on November 24, with Nifty closing at the 13,000-mark for the first time ever. The markets closed higher as signs of progress on the Covid19 vaccine will be available soon. The Sensex surged by 1.01% or 446 points to 44523. The Nifty rose by 1% or 128.70 points to 13055. The Nifty closed above 13,000 for the first time ever. Adding further the gains were also mainly led by banking and financial stocks, however other major sectors like auto, metal and pharma also contributed to the highs. The market breadth was in favour of advances with an advance-decline ratio of 3:2.

Bulls stretch their arms:

After a brief consolidation for the last few sessions, the Nifty managed to surpass the crucial hurdle of 13000 on a closing basis. This suggests that the bulls are determined to drive the index higher. The hourly Bollinger Bands that had become flat has started expansion, which is in line with the fresh upmove.  Going ahead, 13100 is the immediate hurdle to watch out for. Beyond that the index can march towards the short term target of 13350. On the flipside, 12960, which was earlier acting as a resistance, will now act as a support as per the principle of role reversal. So the near-term support zone for the Nifty shifts higher to 12900-12960.

Major headlines:

Infosys bags contract from XacBank Mongolia for digital solutions
Gayatri Projects received Rs 208 cr under the GOI scheme of monetisation of 'under litigation arbitral award' against bank guarantees

Other technical observations:

On the daily chart, the Nifty is above the 20-day moving average (DMA) and the 40-DEMA, of 12415 and 12192, respectively. The momentum indicator is bearish on the daily chart. On the hourly chart, the Nifty is above the 20-hour moving average (HMA) and the 40-HEMA, of 12928 and 12886, respectively. The hourly momentum indicator is bullish. Market breadth was positive with 1111 advances and 756 declines on the National Stock Exchange.

Following are the stocks/sectors which were in news today:

HDFC Bank gained 3% to Rs 1439, after the global brokerage CLSA maintained its positive view on the stock and raised the target price.
Tube Investments of India rose by 2% to Rs 848, after the company said its board will consider fund raising on November 26, 2020.
Datamatics Global Services surged by 6.5% to Rs 78, after the company said its wholly owned Mauritius based subsidiary has agreed to divest its stake in Cignex Datamatics Inc. through a stock redemption arrangement.

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Global signals:

European stock markets climbed on November 24, amid vaccine optimism and signs of orderly US transition.
Asian stock markets were mostly higher on November 24, on vaccine news, Biden transition.