Stock Market HIGHLIGHTS: Off day's record highs, Sensex, Nifty end in green led by HUL, JSW Steel
Stock Market HIGHLIGHTS: Domestic equity markets ended Tuesday on a positive note but off their day's highs. S&P BSE Sensex ended at 62,681.84, up 177.04 points or 0.28 per cent while Nifty50 was closed at 18,618.05, up 55.30 points or 0.30 per cent. Bank Nifty closed at 43,053.45, higher by 33 points or 0.08 per cent.
Here are key takeaways from the day's action:
1) Nifty50 hit a record intraday high of 18,678.10 and managed an all-time high closing as well. Meanwhile, the Sensex's all-time high was 62887.4.
2) The top gainers on Nifty50 were Hindustan Unilever (HUL), JSW Steel, Cipla, Hero MotoCorp and Hero MotoCorp while the top losers were Indusind Bank, Coal India, Bajaj Finserv, Eicher Motors and Power Grid.
3) Out of 15 Nifty sectoral indices, 11 gained against four losers. Nifty FMCG (+1.23 per cent), Nifty Metal (+1.03 per cent) and Nifty Pharma (+0.87 per cent). The laggards were Nifty Auto (-0.22 per cent), Nifty Realty (-0.33 per cent) and Nifty Oil & Gas (-0.13 per cent).
4) INDIA VIX, a guage of volatility in index ended at 13.62, up 0.36 per cent.
5) There was stock specific action in broader markets. Nifty Mid cap 100 ended at 31,677.30, down 141.60 or 0.45 per cent. In the 100-stock index, 34 were gainers while 66 were losers. The top performers were Emami, AB Capital while the worst performers in this category were Laurus Labs and The Indian Hotels Company. Nifty Small Cap 100 settled at 9,916.05, down 55.15 points or 0.55 per cent. The top gainers were IRB Infrastruture and Graphite India and top losers were Allcargo Logistics and Aegis Logistics.
Catch all major updates here!
Stock Market HIGHLIGHTS: Domestic equity markets ended Tuesday on a positive note but off their day's highs. S&P BSE Sensex ended at 62,681.84, up 177.04 points or 0.28 per cent while Nifty50 was closed at 18,618.05, up 55.30 points or 0.30 per cent. Bank Nifty closed at 43,053.45, higher by 33 points or 0.08 per cent.
Here are key takeaways from the day's action:
1) Nifty50 hit a record intraday high of 18,678.10 and managed an all-time high closing as well. Meanwhile, the Sensex's all-time high was 62887.4.
2) The top gainers on Nifty50 were Hindustan Unilever (HUL), JSW Steel, Cipla, Hero MotoCorp and Hero MotoCorp while the top losers were Indusind Bank, Coal India, Bajaj Finserv, Eicher Motors and Power Grid.
3) Out of 15 Nifty sectoral indices, 11 gained against four losers. Nifty FMCG (+1.23 per cent), Nifty Metal (+1.03 per cent) and Nifty Pharma (+0.87 per cent). The laggards were Nifty Auto (-0.22 per cent), Nifty Realty (-0.33 per cent) and Nifty Oil & Gas (-0.13 per cent).
4) INDIA VIX, a guage of volatility in index ended at 13.62, up 0.36 per cent.
5) There was stock specific action in broader markets. Nifty Mid cap 100 ended at 31,677.30, down 141.60 or 0.45 per cent. In the 100-stock index, 34 were gainers while 66 were losers. The top performers were Emami, AB Capital while the worst performers in this category were Laurus Labs and The Indian Hotels Company. Nifty Small Cap 100 settled at 9,916.05, down 55.15 points or 0.55 per cent. The top gainers were IRB Infrastruture and Graphite India and top losers were Allcargo Logistics and Aegis Logistics.
Catch all major updates here!
Latest Updates
This is all we have from the day's action. I, Shivendra Kumar will be back with all the Live Action on Wednesday, 30 November, 2022. Till then, be safe and have a great day!
Market LIVE - ALREADY IN BAN
BHEL 98%
IBULHSGFIN 96%
DELTA CORP 93%
POSSIBLE EXT
NONE
POSSIBLE ENTRANTS
NONE
Stock Market Today - FMCG Sector in Action
Pharma sector was buzzing on Tuesday and helped Nifty make gains. Hindustan Unilever was the top gainer in this segment and the stock was up nearly 4 per per cent Nifty FMCG index was trading at 45,088.10, up 1.89 per cent.
Triggers-
Commodity prices have falen significantly over the last 1 month what has positively impacted their gross margins.
Cooiling in iflation numbers
Growing rural demand especially during festive season
Nestle
In 2022, Nestle PLC estimates 8-8.5 per cent growth
Adjusted EBIT margin17.5-18.5 per cent expected
Britannia
Has done a JV pact with Bel SA, will sell 49 per cent stake to BEL SA for 262 crore.
Stock in News - Gland Pharma
Shares of Gland Pharma were trading at Rs 1,884.75, up by Rs 139.65 points or 8 per cent on the NSE on the intraday basis. The price action was triggered by news report published by Bloomberg which said that Fosun could sell its stake in the company. China's Fosun could sell its 57.86% stake worth USD 350 crore in the company.
Many companies including a PE firm have shown interest in the buyout. China-based Fosun International is under financial pressure, this report has said. The company was taking debts to buy the stakes
The decision was taken after the company failed to raise money according to media reports.
It has to pay a total of 650 billion Yuan (USD 90 billion).
The stock price of Fosun has fallen over 40 per cent. The ratiing agencies have downgraded this stock into junk territory.
Stock Market Today Live - Nifty outperforms global peers
Indian markets have outperformed their global peers. Nifty has given 7.5 per cent returns from the start of the year, better than any other index has given. China has been the biggest laggard.
TOP GAINING INDICES
NIFTY +7.5%
JAKARTA COMP +6.6%
IBOVESPA +4%
TOP LOSERS
HANG SENG -24%
TAIEX -19%
KOSPI -18%
S&P 500 -17%
DAX -10%
CAC -7%
DOW JONES -7%
Research by Ashish Chaturvedi
Live Markets Today: What is triggering the fall of Laurus Labs?
Kotak Institutional has downgraded the stocks with a price target of Rs 350.
The company's reliance will be primarily on ARV (Antiretroviral Drug Optimization) formulation.
The ARV formulation has declined 12-53 per cent over the last three years.
Lower contribution from PAX LOVID will reduce margins of the company
Expensive valuations at 30X FY24 EPS.
Market LIVE: Bank Nifty Movement
Bank Nifty was trading at 43,156.10, up 135.65 points or 0.32 per cent. The top gainers were Bandhan Bank, ICICI Bank and Axis Bank while the top losers were AU Small Finance Bank, Indusind Bank and IDFC First Bank.
Source: NSE
Markets LIVE: Stocks in Focus
Zomato share price: Why is Morgan Stanley upbeat on food delivery company?
Zomato Share Price: Shares of Zomato traded under pressure on Dal Street on Tuesday, November 29, even as brokerage firm Morgan Stanley tagged 'overweight' rating on the counter. The stock quoted Rs 64 apiece on NSE at 10:20, down marginally by 0.50 per cent from the previous close of Rs 64.40.
Morgan Stanley in its report said that the exit of Amazon from the food delivery business in India has a material implication. Amazon has recently told its restaurant partners that it will stop operating its food delivery service in the country.
"Exit of Amazon from food delivery business highlights barriers to scale business for a new entrant," the global brokerage firm said. Morgan Stanley tagged an 'overweight' rating on Zomato for a price target of Rs 92.
Read More: Zomato share price: Why is Morgan Stanley upbeat on food delivery company?
Stock Markets Live - Broader market action
There was stock specific action in broader markets as well with Nifty Mid Cap 100 trading flat at 31,789.25, down 0.09 per cent. In the 100-stock index, 50 stocks advanced, 42 decined while two were unchanged around this time. The top gainers were Aditya Birla Capital, Lupin and National Aluminium while the top losers are Laurus Labs, Tube Investments of India and IGL.
Commodity Markets Live: MCX Gold and Silver
Stocks in NEWS - Lupin
Lupin shares gained today on NSE and were tradng at Rs 749.90, up by Rs 16.25 or 2.21 per cent from the Monday closing price.
Drug firm Lupin on Monday said its Brazil-based unit has inked a pact to acquire rights to nine products from a subsidiary of Bausch Health Companies Inc. The company's wholly-owned subsidiary in Brazil, MedQuimica Industria Farmaceutica, has signed a definitive agreement to acquire all rights to nine medicines from BL Industria Otica Ltda, Lupin said in a statement.
Stock Market Live Today: Nifty top gainers and losers
Source: NSE
Market Live: Nifty movement in Chart
Markets LIVE: Railway stocks in Action
Stocks in news is RVNL or Rail Vikas Nigam Limited as the stock has doubled in 1 month. The stock is trading at Rs 79.05, down by Rs 1.05 or 1.31 per cent. Over 5.3 crore shares were trading around this time. The stock circuit has been revised from 10 per cent to 5 per cent.