The Indian market ended the day’s session on a positive note after opening in the red on Tuesday with the BSE Sensex and Nifty each ending around 0.5 per cent higher, led by metal and pharma stocks.    

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“Benchmark indices witnessed highly volatile session on November 23 with Nifty closing above 17500 on positive note. Sensex was up 198.44 points (0.34 per cent) at 58,664.33, and the Nifty was up 86.80 points (0.50 per cent) at 17,503.30,” Mohit Nigam, Head - PMS, Hem Securities said.    

“Top Gainers include Power Grid, JSW Steel and Coal India each up 4 per cent. Top Losers includes Asian Paint and IndusInd Bank each down over 2.5 per cent. 2346 Shares traded in green, 829 Shares in red and 153 Shares are stable,” Nigam added.   

Latent View Analytics made a spectacular listing on the stock exchanges today at 512.20per share, up 160 per cent from the IPO price of Rs 197 per share despite overall markets being bearish.   

On technical front, Immediate support and resistance in Nifty 50 is 17200 and 17650 respectively. For Sensex support and resistance is 36700 and 37500 respectively, the analyst said.   

Stay tuned to Zeebiz.com to find out what could impact your trade today. We have collated a list of top 10 news points which could impact markets, companies, or economy:     

Global Markets:  

The wall street indices closed mixed on Tuesday. Dow Jones gained 194,55 points or 0.55% to close at 35,813.80, Nasdaq Composite ended 0.50 lower or 79.62 points down o 15,775.14 and S&P 500 was up 7.76 points or 0.17% to 4690.70  

Asian Markets:  

The Asian markets were also trading mixed this morning as Japanese Nikkei 225 was down 197 points to 29,576, Hang Seng Index was up 49 points at 24,701 and Shanghai Composite traded flat at 3,590.    

SGX Nifty:   

SGX Nifty Futures was trading 42 points higher to 17,551 around 7.25 am IST, hinting at positive opening for the Indian markets 

Oil rises 2% after U.S. taps emergency reserves  

Oil prices rose to a one-week high on Tuesday after a move by the United States and other consumer nations to release tens of millions of barrels of oil from reserves to try to cool the market fell short of some expectations.  

The United States said on Tuesday it would release millions of barrels of oil from strategic reserves in coordination with China, India, South Korea, Japan and Britain, to try to cool prices after OPEC+ producers repeatedly ignored calls for more crude.   

But analysts said the effect on prices was likely to be short-lived after years of declining investment and a strong global recovery from the COVID-19 pandemic.   

Centre releases Rs 95,082 crore to states  

The Centre has released two instalments of tax devolution to the states amounting to Rs 95,082 crore in November, the Finance Ministry said on Tuesday. After a meeting with all chief ministers and state finance ministers recently, Union Finance Minister Nirmala Sitharaman had said the Centre will double the amount of November tax devolution by including one advance instalment to help states push their capital expenditure.  

"... the Government of India has released two instalments of tax devolution to State Governments amounting to Rs 95,082 Crores on November 22 2021, as against normal monthly devolution of Rs 47,541 Crores," the ministry said in a statement.  

Currently, 41 per cent of the tax collected is devolved in 14 instalments among states during a fiscal.  

India's crude oil production falls 2.15% in October  

India's crude oil production fell 2.15 per cent in October as state-owned firms produced less but, natural gas output rose by a quarter on the back of output from KG-D6 fields of Reliance-BP, government data released on Tuesday showed.   

Crude oil production dropped to 2.51 million tonnes in October, as output from fields operated by Oil and Natural Gas Corp (ONGC NSE 0.10 %) and Oil India Ltd (OIL) dipped. While ONGC produced 4 per cent less crude oil at 1.64 million tonnes, OIL output dropped 1.46 per cent to 2,53,000 tonnes.  

India is 85 per cent dependent on imports to meet its oil needs and the government has been for long looking at ways to raise the domestic output so as to reduce import dependence.  

India’s GDP to grow at 9.1% in 2022: Goldman Sachs 

Global brokerage giant Goldman Sachs sees India growing at 9.1 per cent in calendar year 2022 from 8 per cent in the current year. The brokerage added that it is optimistic about India given its significant catch-up potential after the pandemic pummelled the economy.  

India is witnessing a strong economic rebound with almost all the high frequency indicators in green and looking up. The second quarter growth numbers will be released later this month and are expected to confirm India's robust economic rebound.  

India's economy recorded a comeback in the first quarter growing at 20.1 per cent. The double digit growth was on the back of a low base as the economy had contracted by 7 per cent in last fiscal.  

Government may ban private cryptocurrencies in India 

India could soon introduce a bill on cryptocurrency in Parliament and the bill is likely to be brought during the winters session of the parliament. The government is in favour of banning private cryptocurrency in the country.  

It was being said earlier that the Government could find a middle path. The Reserve Bank of India (RBI) and the government have shown a strict stance on the cryptocurrency issue including that Bitcoin. However, there has been some leeway in their view to this digital currency.  

FII & DII Data:  

Foreign portfolio investors (FPIs) remained net sellers for Rs 4477.06 crore in the Indian markets while Domestic Institutional Investors (DIIs) were net buyers to the tune of Rs 1412.05 crore, provisional data showed on the NSE.  

Stocks under F&O ban on NSE    

Two stocks: Escorts, Idea have been placed under the F&O ban on Tuesday. Securities in the ban period under the F&O segment include companies in which the security has crossed 95 percent of the market-wide position limit.  

(With inputs from PTI, Reuters and other agencies)  

(Disclaimer: The views/suggestions/advices 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.)