Stock Market HIGHLIGHTS: Off days record highs, Sensex, Nifty end in green led by HUL, JSW Steel
Stock Market HIGHLIGHTS: Nifty50 hit a record intraday high of 18,678.10 and managed an all-time high closing as well. Meanwhile, the Sensexs all-time high was 62887.4
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.
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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
NONEStock 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 companyExpensive 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.
Stock Markets Today - What top brokerages recommend
- Citi on Aditya Birla Fashion and Retail (CMP: 312)
Maintain Buy, Target 405
Announced acquisition of stake in 8 Digital-First lifestyle brands
(across 6 entities) for combined consideration of Rs2.9bn
This investment in-line with co’s earlier stated strategy to
invest Rs3- 5bn by the end of FY23
- Jefferies on Dalmia Bharat (CMP : 1760)
Maintain Buy, Target raised to 2060 from 1900
Strong stance on industry growth led by east; targets industry leading volume growth
Turnaround in east profitability key
With volume growth/ cost leadership, Dalmia is a strong mid cap cement play
- Nomura on Mahindra & Mahindra (CMP : 1251)
Maintain Buy, Target 1616
Nomura on Tata Motors (CMP: 433)
Maintain Buy, Target 521
(Disclaimer: The views/suggestions/advises expressed here in this article is solely by investment experts. Zee Business suggests its readers to consult with their investment advisers before making any financial decision.)
Stock Markets Live Updates - What brokerages recommend on top stocks
- Morgan Stanley on Tyre Cos
+ve on tyre market, driven by a stable volume outlook
& improving margins & return ratios
Rising RoE, Improvement in India & EU, could driuve multiple re-rating at Apollo
Morgan Stanley on Apollo Tyres (CMP: 313)
Maintain Overweight, Target raised to 348 from 329
- Morgan Stanley on Bal Krishna Industries (CMP: 2045)
Maintain Underweight, Target raised to 1661 from 1649
- Morgan Stanley on Zomato (CMP: 64.4)
Maintain Overweight, Target 92
Potential exit of amazon from food delivery biz in india has material implication
exit od amazon from food delivery biz highlights barriers to scale biz for new entrant
- UBS on Indraprastha Gas (CMP: 444)
Maintain Buy, Target 630
Stock is currently trading at 20% discount to its 5-year average PE,
not reflecting CNG volume growth,
improving margin outlook and 17% earnings CAGR over FY22-25E
(Disclaimer: The views/suggestions/advises expressed here in this article is solely by investment experts. Zee Business suggests its readers to consult with their investment advisers before making any financial decision.)
Currency Markets: USDINR Futures
After hawkish comments from FED officials overnight the dollar index rose slightly towards 106.50 while the US 10-year yield hovered around 3.70, Anil Kumar Bhansali, Head of Treasury at Finrex Treasury Advisors LLP said. Brent Oil moved higher towards USD 84.04 per barrel while Asian currencies were a mixed bag with KRW stronger, IDR weaker and CNH neutral at 7.21, he added.
The USDINR is slated to open around 81.65 levels and remain in a range of 81.40 to 81.90 with RBI acting from both sides i.e buying dollars at the lower end and selling dollar at higher end, Bhanali said.
His advice to investors/traders is to sell near term at 81.85 levels while importers could buy the dips. "We may get more clues on direction of market after MPC on 7th and FED on 14th. Till then it is a range play," he further said.
(Disclaimer: The views/suggestions/advises expressed here in this article is solely by investment experts. Zee Business suggests its readers to consult with their investment advisers before making any financial decision.)
Traders Diary - 20 stocks for gains
In today's edition of Traders Diary, Zee Business research team brings its exclusive research on 20 stocks that investors and traders can refer to while making their strategies in them. The research team of Arman Nahar and Research Analyst Ashish Chaturvedi recommends a buy, sell or hold strategy in cash stocks, futures and give their best picks for today.
Read More: Traders Diary on 20 stocks: Buy, Sell or Hold strategy on Lupin, Laurus Lab, RCF, Britannia, others
Stocks in News - Aditya Birla Fashion, Lupin
Lupin: 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.
Aditya Birla Fashion: TMRW, a lifestyle brand from the Aditya Birla Group, on Monday picked up significant minority stakes in eight digital-first lifestyle brands for Rs 290 crore. The eight investments/partnerships include women's Western wear brand Berrylush; casual & expressive wear brand Bewakoof; women's casual & Western wear brand Juneberry; teen's occasion wear brand Natilene; kid's wear label Nauti Nati; athleisure & activewear brand Nobero); casual & denim wear label Urbano; and casual wear & fast fashion brand Veirdo, the company said in a statement without disclosing the quantum of money invested or the stake picked up.
Also Read: Stocks in News, November 29: Vedanta, Can Fin Homes, TCS, Motilal Oswal, Lupin
Stocks in News Today
Vedanta: Shares of mining company Vedanta Limited will trade ex-dividend date Today, November 29. The company has announced to pay a whopping 1750 per cent dividend to its shareholders. This is the third interim dividend that Vedanta has announced to pay in the current financial year (2022-23). Vedanta in the current financial year has already paid dividends on two occasions, amounting Rs 51.
Can Fin Homes: The board of directors of the housing company has announced an interim dividend of Rs 1.50 per equity share of Rs 2 each. According to an exchange filing, December 9, 2022 has been fixed as the record date for the payment of this interim dividend and the payment date has been fixed as December 26. Motilal Oswal Financial Services: Motilal Oswal (MO) Alternates Investment Advisors, the alternative investments arm of financial institution Motilal Oswal Group, has made an investment of Rs 450 crore in two projects of Shapoorji Pallonji Real Estate.
Tata Consultancy Services: Tata Consultancy Services (TCS) has launched the TCS Quantum Computing Lab on Amazon Web Services to help enterprises explore, develop, and test business solutions and accelerate the adoption of quantum computing, the Indian IT major said on Monday.
Commodity Markets - Crude Oil Update
US Fed Commentary on Interest Rates
Top Triggers to Watch Out For - We Collate 12 Factors
Domestic stock markets ended Monday on a high, registering five straight sessions of positive closing. Unfazed by the losses witnessed by their Asia peers, Indian frontline indices went on to create new records. Nifty50 scaled a new lifetime high of 18,614.25, bettering its previous record of 18,604 on the intraday basis and finally settling at 18,562.75, up 50 points or 0.27 per cent. The S&P BSE Sensex also hit yet another lifetime high of 62701.4. The 30-stock index closed at 62,504.80, higher by 211.16 points or 0.34 per cent. When markets reopen today, there will be local and global triggers that will impact the movement. We have collated 12 things to watch out for. Here is a list!
Asian Markets - How Frontline Indices were trading ahead of opening of Indian markets
Japanese NIKKEI 225 was trading at 28,019.40, down 143.47 points or 0.51 per cent while Shanghai Composite was trading at 3,117.35, up 38.80 points 1.26 per cent. Hang Seng was trading positively after consecutive falls at 17,893.03, up 595.09 or 3.44 per cent. Kospi was trading at 2,416.23, up 7.96 or 0.33 per cent.
Global Markets at a Glance
Unrest in China over Xi Jinping Gvernment's diktat for a harsher lockdown in the country has sparked countrywide unrest with slogans being rased demanding Jinping step down. This has made globa markets nervous as US markets crashed on Monday. Dow 30 ended at 33,849.50, down nearly 500 points or 1.50 per cent while S&P 500 settled at 3,963.94, down 62.18 points or 1.54 per cent. Nasdaq Composite closed at 11,049.50, down 176.86 points or 1.58 per cent.
Source: Comex Monday Markets - Recap
Stock Market HIGHLIGHTS: Unfazed by the losses witnessed by their Asia peers, Indian frontline indices continued their winning streak on Monday. Nifty50 scaled a new lifetime high of 18,614.25, bettering its previous record of 18,604 on the intraday basis and finally settling at 18,562.75, up 50 points or 0.27 per cent. The S&P BSE Sensex also hit yet another lifetime high of 62701.4. The 30-stock index closed at 62,504.80, higher by 211.16 points or 0.34 per cent.
Full Story: Stock Market HIGHLIGHTS: All time high closing for Nifty, Sensex; BPCL, Hero MotoCorp end among top gainers
Good Morning, this is Shivendra Kumar and I am back with all the LIVE action from the stock markets.
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