Share Market HIGHLIGHTS: Sensex ends volatile day 475 points off days low, Nifty climbs to 19,765; best day for Nifty IT in four months
Share Market HIGHLIGHTS: Domestic equity benchmarks Nifty 50 and Sensex made a strong comeback after a muted start but were left with gains of half a per cent each by the closing bell in a volatile session on Thursday, November 16. Catch all the highlights of the day on Dalal Street, and the views of Zee Business Managing Editor Anil Singhvi and other market experts on Zeebiz.coms blog.
Share Market HIGHLIGHTS: All's well that ends well! Domestic equity benchmarks Nifty and Sensex bounced back in a dramatic intraday recovery after a muted start to the trading day, but were only left with gains of half a per cent each in a volatile session on Thursday, November 16. The overall positive day on Dalal Street came about even as equities in other Asian markets took a breather following sharp gains this week even though market participants globally remained less worried about higher-for-longer benchmark interest rates following better-than-expected macroeconomic data from the US. The focus on Dalal Street has shifted to global cues after the conclusion of the earnings season.
A majority of stock exchange NSE's sectoral gauges finished the day in the green, with the Nifty IT registering its best single-day rise since July 14 led by TCS and Infosys, amid to a persistent rally in IT shares, with a gain of 2.7 per cent for the session. The high-beta Nifty Bank index gave up about one-tenth of their sharp gains the previous day.
While Hero MotoCorp, Tech Mahindra, HCL Tech, TCS and Infosys—closing between 2.5 per cent and 3.3 per cent higher—were the top gainers in the 50-blue-chip basket, Axis Bank, Coal India, Adani Enterprises, Tata Consumer and ICICI Bank—declining between 0.7 per cent and 1.5 per cent—were the worst hit among the 18 laggards in the pack.
Here are some of the stocks that buzzed the most on Dalal Street during the session:
- Bajaj Finance and Bajaj Finserv—commonly known as the Bajaj twins—managed to close about two per cent higher each after recovering sharp intraday losses triggered by the RBI's move to restrict Bajaj Finance from sanctioning and disbursing loans under its two products.
Meanwhile, ratings agency S&P estimated India's GDP growth to come in at 6-7.1 per cent annually in financial years 2024 through 2026, stating that the country's economic growth prospects should remain strong over the medium term.
Catch all the highlights of the November 16 session on Dalal Street, along with the views of Zee Business Managing Editor Anil Singhvi and other market experts, and much more, on Zeebiz.com's blog:
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Share Market Update | Dow Jones, S&P 500 futures flat; Nasdaq futures edge lower
While Dow Jones Industrial Average and S&P 500 futures are quoting barely in the red at this hour, the futures of the tech stocks-heavy Nasdaq Composite are down 0.2 per cent, suggesting an overall sluggish start ahead for the US stock market in about two hours from now. Here's how the three contracts fare at this hour:
- Dow Jones Industrial Average futures: down 7.0 pts at 35,043
- S&P 500 futures: down 1.8 pts at 4,517.5
- Nasdaq Composite futures: down 27.8 pts at 15,861.5
Closing Bell | Best day for Nifty IT in four months
The Nifty IT—whose 10 constituents include TCS, Infosys, Wipro, HCL Tech and Tech Mahindra—finished 844 pts, or 2.7 per cent, stronger at 32,273.4, its biggest percentage gain since July 14.
TCS and Infosys—the country's largest and second largest IT companies, respectively—were the biggest boosts for the sectoral gauge.
Image: Niftyindices.com
Closing Bell | Sensex 475 pts off day's low, Nifty50 settles at 19,765 boosted by IT stocks
Both headline indices finish the volatile session 0.5 per cent higher. The Sensex adds 306.6 pts for the day to settle at 65,982.5, having rebounded 475.5 pts from its intraday low, and the Nifty50 closes at 19,765.2, up 89.8 pts for the day and 138.2 points off the session low.
Here's how both gauges moved during the session:
Nifty50
Share Market Today LIVE | Dow Jones, S&P 500, Nasdaq Composite futures indicate a sluggish start ahead on Wall Street
Among US stock market benchmarks, the futures of blue-chip gauges are trading flat, and of the tech shares-heavy Nasdaq Composite index are down 0.2 per cent, suggesting a lacklustre opening ahead on Wall Street.
Here's what the futures contracts of the three Wall Street indices, the Dow Jones Industrial Average, the S&P 500 and the Nasdaq Composite, suggest:
- Dow Jones futures: down 16 pts at 35,034
- S&P 500 futures: down 3.3 pts, or 0.1 per cent, at 4,516
- Nasdaq Composite: down 32.8 pts, or 0.2 per cent, at 15,856.5
Share Market Today LIVE | European equities inch lower after three-day upmove
The pan-European STOXX 600 index is down 0.2 per cent at this hour, halting a three-day run, as optimism around a peak in policy tightening and eventual rate cuts stemming from softening inflation across major economies take a backseat. In the past three days, the index rose 2.5 per cent to hit a one-month high.
Here's where some of the key indices from the continent stand in early hours:
- UK's FTSE 100: down 0.4 per cent
- France's CAC: down 0.3 per cent
- Germany's DAX: up 0.4 per cent
Share Market Today LIVE | Jay A Thakkar has a 'buy' call on Dr Reddy's
Jay A Thakkar of Sharekhan recommends buying Dr Reddy's Labs (DRL) shares for targets of Rs 5,700 and Rs 5,760 with a stop loss at Rs 5,475.
Here's how the pharma stock has moved in five back-to-back sessions:
Image: BSEIndia.com
Share Market Today LIVE | Sell Axis Bank futures, says Sumeet Bagadia
Sumeet Bagadia of Choice Broking points out that Axis Bank shares are facing pressure at higher levels and looking ready to break Wednesday's low.
The stock has stiff resistance placed at Rs 1,044-1,045 levels, he says.
He recommends selling Axis Bank futures for targets of Rs 1,015 and Rs 1,005 with a stop loss at Rs 1,045.
Share Market Today LIVE | Sensex rebounds 750 pts from day's low, Nifty50 surpasses 19,850 as bulls remain in charge
Both headline indices surge about one per cent for the day. The Sensex surges 682.4 points from its previous close to touch 66,358.4 at the strongest level of the day, up 851.4 points from the session low, as Dalal Street enters the last 30 minutes of trade.
The Nifty gains 199.8 points for the day to touch 19,875.3 on the upside, having recovered 248.3 points from its intraday low.
Share Market Today LIVE | Puravankara (PURVA) shares turn flat after hitting 52-week high
Puravankara shares turn flat after scaling a 52-week high.
Earlier in the day, the stock rose by as much as Rs 2.2, or 1.3 per cent, to a 52-week peak of Rs 162.6 after the real estate company said it has bagged two housing society redevelopment projects in Mumbai with revenue potential of Rs 1,500 crore.
Share Market Today LIVE | Centre cuts windfall tax on crude oil, diesel exports
While ONGC shares gain by as much as Rs 3.9, or two per cent, to register a 52-week high of Rs 203.4 apiece, the stock of Oil India rises by 10.1, or 3.2 per cent, to Rs 323.8 apiece, coming within Rs 16 of a 52-week high logged the previous month.
The government has reduced the windfall tax on crude oil produced in the country and on exports of diesel in line with softening international oil prices, effective immediately. Global crude oil rates have eased since the last revision, necessitating the reduction. The basket of crude oil that India imports has averaged $84.8 per barrel this month as against $90.1 a barrel in October, and $93.5 a barrel in September.
Share Market Today LIVE | What Astha Jain makes of NTPC, Vodafone Idea, CESC, Wockhardt, Welspun, Sobha stocks
Astha Jain of Hem Securities shares her views on a bunch of stocks including NTPC, Vodafone Idea and Sobha.
Jain has a 'buy' call on CESC shares for a target of Rs 105 with a stop loss at Rs 89. She believes a close above the Rs 250 mark will lead to levels to the tune of Rs 275 in NTPC shares.
The analyst points out that Sobha is looking good on the charts, and a close above Rs 900 in 1-2 days make take the realty stock past Rs 960. She advises existing investors to hold their positions for a target of Rs 810.
Jain has three other 'hold' calls on Vodafone Idea, Wockhardt and Welspun, stocks she deems unsuitable for fresh positions.
She recommends holding Vodafone Idea shares for targets of Rs 15.5-15.9 with a stop loss at Rs 13.3. For Wockhardt, she sees a target as high as Rs 370.
Jain recommends trading Welspun shares cautiously with the possibility of a correction given its strong run-up in the recent past, with a 'hold' rating for a target of Rs 600 with a stop loss at Rs 490.
Share Market Today LIVE | Manappuram Finance shares hit 52-week high
Manappuram Finance shares soar by Rs 11.9, or 7.9 per cent, to clock a 52-week high of Rs 162.3 apiece on BSE, surpassing an earlier peak of Rs 156.6 registered in September.
The Kerala-based NBFC announced certain changes in its senior management post-market hours on Wednesday.
Read more on Manappuram Finance shares
Share Market Today LIVE | Mazagon Dock Shipbuilders (MAZDOCK) shares off day's high
The stock of the PSU shipbuilder is left with a gain of Rs 2.8, or 0.1 per cent, at Rs 2,000.7 apiece on BSE, having gained by as much as Rs 22.1, or 1.1 per cent, to Rs 2,020 apiece earlier in the session. Last week, the company a record interim dividend of Rs 15.34 per equity share amounting to Rs 309.4 crore.
Share Market Today LIVE | Market momentum to continue as long as Nifty, Nifty Bank close above 19,740, 44,100, says Vikas Salunkhe
Vikas Salunkhe of Nirmal Bang Securities believes that the current upmove in the market will continue as long as the Nifty50 and the Nifty Bank stay above the levels of 19,740 and 44,100 on a closing basis, respectively. He sees key resistance coming in at 44,600 and important support in the 44,100-44,000 zone for the banking index, and believes that a move past the hurdle will be followed by a strong move that can take the 50-scrip headline index to 20,000-odd levels.
Share Market Today LIVE | Momentum continues in newly-listed ASK Automotive amid bulk deal
ASK Automotive shares continue to rise on their second day in the listed universe. Its intraday high of Rs 319.9 apiece on BSE, up 3.1 per cent on the day, implies a premium of 13.4 per cent over the upper end of the price range of its IPO, which concluded last week with an overall subscription of more than 51 times.
According to bulk deal data from stock exchange NSE, Goldman Sachs India Equity Portfolio bought 23.2 lakh shares in ASK Automotive, equivalent to 1.1 per cent of the company's equity, at a price of Rs 310.1 apiece.
Share Market Today LIVE | NTPC, Tata Motors, DLF among analysts' top stock picks today
In conversation with Zee Business Managing Editor Anil Singhvi, market experts Himanshu Gupta, Vikas Sethi, Rakesh Bansal, Kunal Saraogi, Sumeet Bagadia and Sandeep Wagle share their top stock recommendations in this special segment, Pick of the Day.
- Himanshu Gupta of Globe Capital Markets recommends buying HDFC Life Insurance shares for targets of Rs 650 and Rs 660 with a stop loss at Rs 628
- Vikas Sethi of Sethi Finmart recommends buying four stocks: Tata Motors, PNB, DLF and NTPC
Check out the complete list of analysts' recommendations today
Image: Pexels
Share Market Today LIVE | Market breadth remains in favour of the bulls, advance-decline ratio at 7:5
As many as 2,135 stocks enjoy gains against 1,501 stocks under pressure as Dalal Street enters the last 150 minutes of trade.
Image: BSEIndia.com
Share Market Today LIVE | IT, financial, auto shares lead intraday recovery in market
Take a look at the top movers and shakers in the 50-scrip basket at this hour:
Image: Niftyindices.com
Share Market Today LIVE | Nifty Midcap 100 index on track to close higher for 11th straight day; smallcap index at all-time high
Share Market Today LIVE | Himanshu Gupta recommends chasing rise in Dr Reddy's, HCL Tech through derivatives
Himanshu Gupta of Globe Capital Markets shares two options trading recommendations with Zee Business viewers:
- Buy the Rs 5,500 call option of DRL at Rs 88-89 for targets of Rs 125 and Rs 140 with a stop loss at Rs 75
- Buy the Rs 1,320 call option of HCL Tech at Rs 10 for targets of Rs 20 and Rs 25 with a stop loss at Rs 7.
Share Market Today LIVE | Buy SBI, DLF shares, says Nirav Harish Chheda
Nirav Harish Chheda of Nirmal Bang Securities is positive on SBI and DLF shares. He believes the real estate stock can stage a good breakout in the short term and reach targets to the tune of Rs 800 over the medium term.
For SBI, he has placed his targets at Rs 610, Rs 625 and Rs 630 with a stop loss at Rs 575.
He suggests buying DLF shares for a near-term target of Rs 660 with a stop loss at Rs 610.
Share Market Today LIVE | Buy LIC Housing Finance, Infosys stocks, says Sneha Seth
Sneha Seth of Angel One recommends buying LIC Housing Finance shares for a target of Rs 481 with a stop loss at Rs 453.
Seth also has a 'buy' call on Infosys with a target of Rs 1,520 and a stop loss at Rs 1,390.
Share Market Today LIVE | Tata Consultancy Services (TCS) shares hold on firmly to the green after the Tata group IT giant sets record date for Rs 17,000-crore share buyback
TCS shares gain by as much as Rs 84.3, or 2.5 per cent, to Rs 3,483.6 apiece on BSE, after the country's largest IT firm sets November 25 as the record date for a share buyback plan worth Rs 17,000 crore.
Here's how TCS shares have moved so far today:
Share Market Today LIVE | HUDCO shares remain in positive trend with strong support at Rs 75-77, says Vaishali Parekh
HUDCO
HUDCO shares appear to be in a positive trend with strong support at Rs 75-77, says Vaishali Parekh of Prabhudas Lilladher. Existing investors can use these levels to add to their positions, she adds.
IRFC
Parekh believes railway stocks are in a consolidation mode after a rally. As long as key support at Rs 65-67 is intact in IRFC shares, the stock can be considered to be consolidating and any moves past Rs 76 can continue all the way to 89-90-odd levels, she adds.
Coforge
The analyst recommends buying Coforge shares for a target of Rs 5,800 with a stop loss at Rs 5,150.
Wockhardt
She suggests buying the Wockhard stock for target of Rs 334 and Rs 335 with a stop loss at Rs 275.
Share Market Today LIVE | Tata Motors, Bajaj Auto, TVS Motor, Escorts, Ashok Leyland hit record highs
Stock 52-week high Previous 52-week high (price/date) BAJAJ-AUTO 5,570.95 4,130.15 (1 Sep 2022) EICHERMOT 3,874.50 3,886.00 (1 Nov 2022) TATAMOTORS 684 536.50 (17 Nov 2021) TVSMOTOR 1,683.95 1,177.00 (19 Oct 2022) Hero MotoCorp and Ashok Leyland shares also enjoy decent buying interest.
Share Market Today LIVE | Nifty50 has potential to reach 19,800-19,850 levels in current upmove
Vaishali Parekh of Prabhudas Lilladher believes the Nifty is preparing for trading targets to the tune of 19,800-19,850 with strong participation from all sectors.
She points out that the Nifty Bank is also showing strength with strong participation from frontline stocks such as HDFC Bank.
Share Market Today LIVE | Bharat Petroleum (BPCL), Hindustan Petroleum (HINDPETRO) stocks hit 52-week highs, Indian Oil (IOC) within inches of 52-week high
State-run oil marketing company stocks trade higher to scale fresh peaks. Bharat Petroleum Corporation shares jump by as much as Rs 8.1, or 2.1 per cent, to a 52-week high of Rs 400.5 apiece while the Hindustan Petroleum Corporation stock gains by Rs 12.9, or 4.1 per cent, to touch a 52-week peak of Rs 326.7 apiece.
Indian Oil Corporation (IOC) shares rise to as high as Rs 105.1, up by Rs 3.5, or 3.4 per cent, from their previous close, to come within Rs 2 of a 52-week high registered last week.
Share Market Today LIVE | Most quick service restaurant (QSR) stocks rise after OMCs reduce commercial LPG price
Sapphire Foods, Jubilant FoodWorks and Restaurant Brands International trade with gains to the tune of one per cent after state-run oil marketing companies announce a reduction in commercial LPG effective today. Devyani International shares were down 0.2 per cent. Read more on LPG rate cut
The downward revision brings some relief to commercial cooking gas users, such as hotels and restaurants, following a hike of Rs 101.5 per 19-kg cylinder days ahead of Diwali. Read more on restaurant stocks
Share Market Today LIVE | Tata Motors shares hit record high after Tata Technologies declares price band for first Tata group public offer in two decades
The Tata Motors stock rises by Rs 9.6, or 1.4 per cent, to scale a record high of Rs 681.3 apiece, after the Tata group auto major's subsidiary, Tata Technologies, sets the price band for its upcoming IPO at Rs 475-500.
Under the public offer, the first Tata group issue in almost two decades, Tata Motors will sell 4.62 crore Tata Technologies shares. Read more on Tata Tech IPO
Image: Reuters
Share Market Today LIVE | Bajaj twins (BAJFINANCE and BAJAJFINSV) shares face selling pressure after RBI action
The RBI has barred Bajaj Finance from issuing loans under two products, eCOM and Insta EMI Card, with immediate effect, citing deficiencies in adhering to digital lending guidelines. Bajaj Finance is one of the country's largest consumer lenders.
While Bajaj Finance shares fell by as much as Rs 286.8, or four per cent, to Rs 6,937.2 apiece on BSE within the first few minutes of trade, the Bajaj Finserv stock declined by 54.1, or 3.4 per cent, to hit an intraday low of Rs 1,540.
Share Market Today LIVE | Sumeet Bagadia recommends buying Gujarat Mineral Development Corporation (GNDC) shares for short term
Sumeet Bagadia of Choice Broking suggests buying mining and mineral processing company GNDC's shares for short-term targets of Rs 411 and Rs 421 with a stop loss at Rs 390.
He says that positional targets for the Gujarat Mineral Development Corporation stock will be even higher.
Share Market Today LIVE | Sensex, Nifty50 recover initial losses; 50-scrip index tests 19,700
The Nifty50 overcomes initial weakness with an 83.7-point bounce from the lowest level of early trade to touch 19,710.7 on the upside. The leaner, 30-scrip gauge climbs to as high as 65,787.7 in a bound of 280.7 points from its intraday low.
Can the indices remain in positive territory?
Nifty50 LIVE
Sensex LIVE
Images: BSEIndia.com, NSEIndia.com
Share Market Today LIVE | Financial, metal shares pull indices lower; IT stocks lend support
Here's a look at the top movers and shakers in the Nifty50 basket, by weight:
Image: Niftyindices.com
Share Market Today LIVE | Sensex declines over 100 pts, Nifty slips below 19,650 after a flat start to the day; Bajaj twins fall up to 3%; ONGC, TCS top blue-chip gainers
Share Market Today LIVE | Sensex flat in pre-opening trade
The Sensex settles with a negligible cut of 10.1 points at 65,665.9 in the pre-open market.
Share Market Today LIVE | Wall Street continues to rise after softer-than-expected consumer inflation reading; Target skyrockets on upbeat forecast
The three main US stock market benchmarks, the Dow Jones, the S&P 500 and the Nasdaq Composite, rose on Wednesday as fresh inflation data reinforced investor hopes that the Fed is done raising interest rates, while an upbeat forecast from Target boosted retail stocks.
Here's how the three Wall Street barometers fared:
- Dow Jones: up 0.5 per cent
- S&P 500: up 0.2 per cent
- Nasdaq Composite: up 0.1 per cent
Target shares zoomed 17.8 per cent in their biggest one-day percentage gain since August 2019 after the retailer forecast a fourth-quarter profit largely above expectations on easing supply-chain costs. Shares of other retailers also rose, including a 7.5 per cent jump in the Macy's stock.
Market Today LIVE | Rupee opens at 83.18 vs dollar
The rupee (INR) begins the day at 83.18 against the greenback (USD), four paise weaker than its previous close.
Share Market Today LIVE | Asian equities take a breather after sharp gains this week; expectations of pause in US interest rates intact
Equities in major other Asian markets struggle for momentum following heavy gains this week, as expectations for a pause in Fed policy tightening remain intact despite US data pointing to strength in parts of the economy. MSCI's broades index of Asia Pacific shares outside Japan is down 0.7 per cent at this hour.
Here's where some of the key indices in the continent stand:
- Japan's Nikkei 225: down 0.7 per cent
- China's Shanghai Composite: down 0.5 per cent
- Singapore's Straits Times: down 0.3 per cent
- Hong Kong's hang Seng: down 1.6 per cent
- South Korea's KOSPI: down 0.2 per cent
US economic data this week has left investors in the same state of confusion about Fed policy as they have been in for weeks. While retail sales have come in strong, producer prices inflation—released soon after the below-forecast core inflation—has reinforced the disinflation theme and supported views of a peak in US benchmark rates.
Share Market Today LIVE | GIFT Nifty futures indicate a mildly positive start ahead on Dalal Street
GIFT Nifty futures are up 26.9 points, or 0.1 per cent, at 19,750, suggesting mild gains in the benchmark Nifty50 index, minutes ahead of the pre-opening trade.
What are GIFT Nifty futures?
GIFT Nifty futures are an early indicator of the blue-chip index. Traders track GIFT Nifty futures closely during off-market hours to plan their positions during trading hours.
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