Stock Market HIGHLIGHTS: Sensex ends 100 points up, Nifty flat; dream debut for Global Health as stock closes 24% higher
Stock Market Today HIGHLIGHTS: Bulls took control of Dalal Street with frontline indices ending green on a day which was marked by high volatility. The market traded in a range throughout the day dabbling between highs and lows. BSE Sensex settled at 61,980.72, down 107.82 points or 0.17 per cent. Meanwhile, Nifty50 was trading at 18,409.65, down just 6 points at the closing time.
Here are top highlights of the day's action:
1) The surge was led by Kotak Mahindra Bank and HDFC Bank which were top index contributors. The top gainers were Kotak Bank, Coal India, HDFC, Hindustan Unilever and TCS while the top losers were Apollo Hospitals, Adani Ports, Hindalco Industries, Bajaj Finance and Adani Enterprises.
2) The markets traded with high volatility. India VIX, a measure of volatility in the index was 15.10, up 3.17 per cent from the Tuesday closing.
3) There was stellar action from debutant stocks Global Health and Bikaji Foods whose shares listed at a premium and closed with gains. Global Health IPO share closed at Rs 417.30, up by Rs 81.30 or 24.20 per cent on the NSE. Meanwhile, Bikaji Foods shares ended at Rs 317.50, up 17.50 or 5.83 per cent.
4) Nifty Bank hit yet another life time high of 42,611.75 and closed at 42,535.30.
5) Out of the 15 Nifty sectoral indices, 8 indices ended in the red against 7 winners. The top performance came from Nifty Bank (+0.38 per cent), Nifty Financial Services (+0.34 per cent) and Nifty IT (+0.29 per cent). The top laggards were Nifty Realty (-1.03 per cent), Nifty Media (-1.44 per cent).
6) There was stock specific action in broader markets as well. Nifty Mid Cap 100 closed at 31,197.90, down 0.65 per cent while Nifty Small Cap 100 settled at 9,696.55, down 0.83 per cent.
7) The rupee depreciated by 34 paise to close at 81.25 (provisional) against the US dollar on Wednesday on disappointing trade data and foreign fund outflows. Forex traders said a negative bias on risk aversion in global markets weighed on the local unit. At the interbank foreign exchange market, the local unit opened at 81.41 and later witnessed an intraday high of 81.23 and a low of 81.58 during the session.
The domestic unit finally settled at 81.25 against the American currency, registering a fall of 34 paise over its last close. On Tuesday, the rupee appreciated 37 paise to close at 80.91 against the US dollar. PTI
8) Singapore-based SGX Nifty, an early indicator of Nifty movement was trading with a negative bias. The SGX Nifty futures were trading at 18,459.5, down over 35 points or 0.19 per cent. DOW 30 Futures were also trading with declines at 33,685, higher by 92 points or 0.27 per cent, narrowing earlier losses.
Catch all the updates here!
Stock Market Today HIGHLIGHTS: Bulls took control of Dalal Street with frontline indices ending green on a day which was marked by high volatility. The market traded in a range throughout the day dabbling between highs and lows. BSE Sensex settled at 61,980.72, down 107.82 points or 0.17 per cent. Meanwhile, Nifty50 was trading at 18,409.65, down just 6 points at the closing time.
Here are top highlights of the day's action:
1) The surge was led by Kotak Mahindra Bank and HDFC Bank which were top index contributors. The top gainers were Kotak Bank, Coal India, HDFC, Hindustan Unilever and TCS while the top losers were Apollo Hospitals, Adani Ports, Hindalco Industries, Bajaj Finance and Adani Enterprises.
2) The markets traded with high volatility. India VIX, a measure of volatility in the index was 15.10, up 3.17 per cent from the Tuesday closing.
3) There was stellar action from debutant stocks Global Health and Bikaji Foods whose shares listed at a premium and closed with gains. Global Health IPO share closed at Rs 417.30, up by Rs 81.30 or 24.20 per cent on the NSE. Meanwhile, Bikaji Foods shares ended at Rs 317.50, up 17.50 or 5.83 per cent.
4) Nifty Bank hit yet another life time high of 42,611.75 and closed at 42,535.30.
5) Out of the 15 Nifty sectoral indices, 8 indices ended in the red against 7 winners. The top performance came from Nifty Bank (+0.38 per cent), Nifty Financial Services (+0.34 per cent) and Nifty IT (+0.29 per cent). The top laggards were Nifty Realty (-1.03 per cent), Nifty Media (-1.44 per cent).
6) There was stock specific action in broader markets as well. Nifty Mid Cap 100 closed at 31,197.90, down 0.65 per cent while Nifty Small Cap 100 settled at 9,696.55, down 0.83 per cent.
7) The rupee depreciated by 34 paise to close at 81.25 (provisional) against the US dollar on Wednesday on disappointing trade data and foreign fund outflows. Forex traders said a negative bias on risk aversion in global markets weighed on the local unit. At the interbank foreign exchange market, the local unit opened at 81.41 and later witnessed an intraday high of 81.23 and a low of 81.58 during the session.
The domestic unit finally settled at 81.25 against the American currency, registering a fall of 34 paise over its last close. On Tuesday, the rupee appreciated 37 paise to close at 80.91 against the US dollar. PTI
8) Singapore-based SGX Nifty, an early indicator of Nifty movement was trading with a negative bias. The SGX Nifty futures were trading at 18,459.5, down over 35 points or 0.19 per cent. DOW 30 Futures were also trading with declines at 33,685, higher by 92 points or 0.27 per cent, narrowing earlier losses.
Catch all the updates here!
Latest Updates
Global Health had a dream debut shares were trading with the stock trading 23 per cent higher from the listing price. The stock was listed at Rs 401 and was trading at Rs 415.05, up by Rs 79.05 or 23.53 per cent higher. The issue price was Rs 336.
Trading Calls by Analyst Nilesh Jain
Buy HAL Stop Loss 2575, TARGET 2665
SELL SRTRANSFIN Stop Loss 1248 TARGET 1201
Tina Gadodia - Stocks to Buy - 24 Nov Expiry
Buy INDIGO 1780 PE at 28 target 42 Stop Loss 20
Buy Dr Reddy's Lab 4500 CE at 75 , target 130 Stop Loss 50
Buy Nifty 18500 CE at 111 target 225 Stop Loss 70
Buy Bank Nifty 42500 CE at 420 target 800 Stop Loss 275
(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.)
Trading Calls: Startegy on stocks at 12:30 pm
Nifty- Bull Call spread in 24 November expiry
Buy 18450 strike call
Sell 18650 strike call
Net Debit- 80
Stoploss for spread- 35
Targets for spread- 160, 175
BankNifty- Buy November futures above 42650
STOP LOSS- 42570
Targets- 42850, 42950
3. Buy JK Cements
STOP LOSS- 2920
Targets- 3080, 3110
4. Buy Oil India Ltd.
STOP LOSS- 199.5
Targets- 212, 214.5
(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.)
Bulls and bears were evenly matched around 12 pm today as the markets were trading flat. The top laggards were pharma and realty sector which offset the gains made by IT and Bank stocks.
Top F&O Gainers
Balrampur Chini, GNFC, HAL
PSU Companies in focus
HUDCO, NBCC, Ircon, UCO Bank
In NEWS
TCNS Clothing, Global Health, Bikaji , Metropolis
Top Losers
Hindalco, JSW Steel, Divis lab, Bajaj finance
Other Losers
Apollo tyres, IB Housing, Nykaa, PayTM
Stock Market Update: IPO Watch
Bikaji Foods Shares, Medanta Shares Listing Price NSE, BSE: Shares of Bikaji Foods International Limited and Medanta operator Global Health Limited made a positive debut on stock exchanges at a premium of 10 to 20 per cent above the issue prices. Shares of Bikaji Foods and Medants have been listed and admitted to dealings on the BSE and NSE in the list of 'B' group of securities. While Medanta shares opened at Rs 398.15 apiece on BSE and Rs 401 on NSE, yielding a return of around 20 per cent on the listing; Bikaji Foods shares too made a decent start on the BSE and NSE, listing at a premium of around 10 per cent at Rs 321.15 and Rs 322.80, respectively.
Bank Nifty hits a new life time high 42,476.85. It was trading at 42,467.70, up 95 points or 0.22 per cent.
Gold Price Strategy: Expert Opinion
Gold prices made a new multi-month high in the last session, Deveya Gaglani, Research Analyst, Axis Securities told Zee Business Web. The Prices touched the Rs 53000 level per 10 gram but failed to sustain near the day's high, as investors booked profit after PPI data, Gaglani said.
On the daily chart, Gold prices settled around the Rs 52700 level and have formed a Gravestone doji candlestick, this expert said. This indicates that prices may retrace from the higher level, he said.
"Investors will now focus on retail sales data to take further cues from the Fed. The Poland missile attack has supported Gold at a lower level. The short trend is positive for Gold as long as the 52000 level is intact on the downside," 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.)
Stock Market Today: In the 15 Nifty sectoral indices, 9 were trading in the red against six gainers. Nifty Realty and Nifty FMCG were top laggards while, Nifty PSU Bank and Nifty IT were top performers.
Stock Market Volatility: LIVE Updates
India VIX, a measure of volatility on Nifty was up today by over 2 per cent and at 14.95.
Share Market Today: Sensex top gainers and losers
Stock Market Today: Nifty top gainers and losers
In the 50-stock index 18 stocks advanced against 32 declines.
Source: NSE
Nyka shares fell nearly 6 per cent intraday on the NSE in the opening trade but recovered within minutes. The stock was trading at Rs 184.80, down Rs 7.25 or 3.78 per cent around 9.25 am.
The correction was on the back of listing of over Rs 237 crore bonus shares today.
Stock Market Today LIVE Updates: Global cues are mixed with US markets maintaining their winning streak. Frontline indices closed positive for second consecutive day with Dow 30 ending Tuesday at 33,592.90, up 56.22 points or 0.17 points. S&P 500 closed at 3,991.73, up 34.48 points or 0.87 per cent while Nasdaq Composite settled at 11,358.40, up 162.19 points or 1.45 per cent. The Wall Street traded with positivity amid strong September quarter results from Wallmart, shares of which were up 6 per cent.
However, investors must watch out for geo-political tensions as Russian missile lands in Poland a NATO ally. Two people are reported dead. While, the country has deployed forces, the President Andrzej Sebastian Duda said that there were no concrete evidence on who fired it. He said that it was an isolated event.
Singapore-based SGX Nifty, an early indicator of Nifty movement was trading with a negative bias hours before market opening time for local exchanges. The SGX Nifty futures were trading at 18,393, down over 100 points or 0.55 per cent. DOW 30 Futures were also trading with declines at 33,497.70, lower by 95.20 points or 0.28 per cent.
Dollar Index was down and hovering just over 106 against the basket of six major currencies.
Rupee opens 29 paise lower against the dollar.
