Markets, Stocks and Sectors: All you need to know about BSE Sensex, NSE Nifty today

Stock markets today: BSE Sensex, NSE Nifty have snapped a 4-day winning streak. Sensex has dropped 580 points and Nifty tumbled by 166 points. Stock markets plunged deep into red in the last hour of trade amid global sell-off.

Major headlines for today:

L&T Construction bagged contract of more than Rs. 7,000 cr to build India’s first High-Speed rail corridor.
Domestic air passenger traffic was up by 33.6% MoM in October.

Indian indices:

The benchmark indices ended lower by 1% on November 19, as investors booked profit amid weak global cues, as widening COVID-19 restrictions weighed on market sentiment. The Sensex declined by 1.31% or 580.09 points to 43,599.96. The Nifty tumbled by 1.29% or 166.55 points to 12,771.70. The key indices were mainly dragged by financials, IT and Metal sector.

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

GPT Infra projects hit 10% upper circuit at Rs. 32.35, after the company said it bagged a Rs. 162.83 crore order from a civil body in Kolkata.
Titan rose by 1% to Rs. 1,292.40, after reporting 15% growth for Jewellery business in the festive period.
SpiceJet surged by 12.06% to Rs. 74.35, after Boeing 737 Max aircraft got US FAA clearance.

Global signals:

Asian stock markets traded lower on November 19, as Covid-restrictions take a toll.
European markets were trading lower on November 19, as shutdown fears outweigh vaccine news.

Technical Analysis on Nifty:

The Nifty opened on a weak note and witnessed a smart recovery in the first half of the trading session. It witnessed a sharp selloff in the second half and closed the day deep in the red. On the daily chart, we can observe that the Nifty has faced selling pressure from the resistance zone of 12950 – 13000. The momentum in the rally of the past four trading sessions was missing which was evident from the negative divergence on the hourly momentum indicator. Going ahead, we expect the Nifty to consolidate before resuming its move up. In terms of levels, 12650 – 12600 shall act as a crucial support zone while 12950 – 13000 shall act as a resistance zone for the Nifty

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Other technical observations on the daily chart, the Nifty is above the 20-day moving average (DMA) and the 40-DEMA, i.e. 12250 and 12068 respectively. The momentum indicator is Bullish on the daily chart.

On the hourly chart, the Nifty is between the 20- hour moving average (HMA) and the 40-HEMA, i.e. 12869 and 12760 respectively. The hourly momentum indicator is bearish. The market breadth was negative with 828 advances and 1011 declines on the National Stock Exchange