Share Market HIGHLIGHTS: Sensex ends 188 pts lower, Nifty slides below 19,750 as D-Street halts two-day winning run
Share Market Today LIVE: Domestic equity benchmarks Nifty and Sensex made a mildly negative start to the last session of the week, on November 17, as a rally across global markets this week, backed by better-than-expected macroeconomic data amid hopes the Fed is done hiking benchmark interest rates, appeared to fizzle out.
On Thursday, the benchmark indices managed to finish a volatile session in positive territory amid a rally in IT stocks, with the Nifty50 clocking its biggest single-day gain in four months. Ratings agency S&P said it expected India's economic growth prospects to remain strong over the medium term, pegging the GDP growth in the economy at 6-7.1 per cent annually in financial years 2024 through 2026.
The focus on Dalal Street has shifted to global cues with the earnings season behind.
Catch minute-by-minute updates of the November 17 session on Dalal Street, along with the views of Zee Business Managing Editor Anil Singhvi and other market experts, and much more, on Zeebiz.com's blog:
Share Market Today LIVE: Domestic equity benchmarks Nifty and Sensex made a mildly negative start to the last session of the week, on November 17, as a rally across global markets this week, backed by better-than-expected macroeconomic data amid hopes the Fed is done hiking benchmark interest rates, appeared to fizzle out.
On Thursday, the benchmark indices managed to finish a volatile session in positive territory amid a rally in IT stocks, with the Nifty50 clocking its biggest single-day gain in four months. Ratings agency S&P said it expected India's economic growth prospects to remain strong over the medium term, pegging the GDP growth in the economy at 6-7.1 per cent annually in financial years 2024 through 2026.
The focus on Dalal Street has shifted to global cues with the earnings season behind.
Catch minute-by-minute updates of the November 17 session on Dalal Street, along with the views of Zee Business Managing Editor Anil Singhvi and other market experts, and much more, on Zeebiz.com's blog:
Latest Updates
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Global Market Update | Dow Jones, S&P 500 futures indicate a positive start ahead on Wall Street
The futures contracts of three main benchmarks of the US stock market, the Dow Jones Industrial Average, the S&P 500 and the Nasdaq Composite, are in the green, suggesting a positive start to the day on Wall Street in about two hours from now.
- Dow Jones futures: up 78 pts, or 0.8 per cent, at 35,097
- S&P 500: up 9.8 pts, or 0.2 per cent, at 4,533
- Nasdaq Composite: up 21 pts or 0.1 per cent at 15,918.5
Global Market Update | European shares in the green, on track to register weekly gain; all eyes on Eurozone inflation data due today
Equity benchmarks across Europe begin the day sharply higher, and are on course to finish the week stronger, amid buying interest in healthcare stocks.
The pan-European STOXX 600 is up 4.5 pts, or one per cent, at 455.8 at this hour, having risen as much as 1.2 per cent earlier in the day.
Here's where some of the key indices from the continent stand:
- UK's FTSE 100: up 1.0 per cent
- France's CAC: up 0.9 per cent
- Germany's DAX: up 0.9 per cent
Investors keenly await a key reading of inflation in the euro area due later in the day. This week, separate sets of macro data showed softening inflation in the US and the UK.
Closing Bell | Nifty PSU Bank top loser among NSE's sectoral gauges amid weakness in financial shares following RBI action on unsecured loans
| Index | Change (%) |
| NIFTY PSU BANK | -2.39 |
| NIFTY BANK | -1.31 |
| NIFTY PRIVATE BANK | -1.3 |
| NIFTY OIL & GAS | -1.11 |
| NIFTY FINANCIAL SERVICES | -0.9 |
| NIFTY FINANCIAL SERVICES 25/50 | -0.42 |
| NIFTY IT | -0.25 |
| NIFTY CONSUMER DURABLES | -0.03 |
| NIFTY MEDIA | 0.12 |
| NIFTY METAL | 0.17 |
| NIFTY REALTY | 0.49 |
| NIFTY AUTO | 0.69 |
| NIFTY FMCG | 0.86 |
| NIFTY PHARMA | 0.98 |
| NIFTY HEALTHCARE INDEX | 1.01 |
Closing Bell | Sensex down 188 pts at 65,795, Nifty gives up 19,750
Both headline indices recover less than half of their intraday losses at the end of the volatile session. The Sensex ends 187.8 pts, or 0.3 per cent, lower at 65,794.7, and the Nifty50 settles at 19,731.8, down 33.4 pts, or 0.2 per cent, from its previous close.
Here's how both the gauges moved during the course of the day:
Nifty50
Sensex
Images: NSEIndia.com, BSEIndia.com
Share Market Today LIVE | Analysts positive on Bharat Electronics shares
Sumeet Bagadia of Choice Broking recommends buying BEL shares for short-term targets of Rs 148 and Rs 151 with a stop loss at Rs 142.
Sandeep Wagle of Sandeep Wagle Advisory Services suggests buying BEL futures for a target of Rs 150 with a stop loss at Rs 144.
Image: BSEIndia.com
Currency Market Update | Rupee edges lower to 83.27 vs dollar
The rupee (INR) weakens by four paise to quote at 83.27 against the greenback (USD).
Share Market Today LIVE | Nifty IT off day's low aided by mild gains in TCS
The IT index remains under pressure, though gains in TCS help it recover much of its intraday losses. The Tata group IT major's stock is up half a per cent at Rs 3,514 at this hour, having gained as much as 0.8 per cent earlier in the day as the Nifty IT declined as much as 138.7 points, or 0.4 per cent, to 32,134.7.
The IT gauge has given up a fraction of handsome gains in the previous session when it registered its biggest single-day rise in about four months.
Share Market Today LIVE | S&P BSE Bankex worst hit among BSE's sectoral indices; industrials, healthcare, auto gauges rise up to 0.8%
| Index | Change (%) | Current level |
| S&P BSE BANKEX | -1.26 | 49,284.79 |
| S&P BSE OIL & GAS | -0.97 | 19,521.59 |
| S&P BSE Financial Services | -0.7 | 9,587.66 |
| S&P BSE Energy | -0.68 | 8,789.01 |
| S&P BSE REALTY | -0.15 | 5,454.76 |
| S&P BSE TECK | -0.08 | 14,641.03 |
| S&P BSE Information Technology | -0.06 | 32,833.40 |
| S&P BSE METAL | 0.05 | 23,802.01 |
| S&P BSE CONSUMER DURABLES | 0.16 | 45,813.01 |
| S&P BSE POWER | 0.33 | 4,665.43 |
| S&P BSE Telecommunication | 0.34 | 2,116.16 |
| S&P BSE Services | 0.42 | 1,044.21 |
| S&P BSE Utilities | 0.43 | 3,830.58 |
| S&P BSE Consumer Discretionary | 0.62 | 7,342.55 |
| S&P BSE Commodities | 0.64 | 5,826.32 |
| S&P BSE Fast Moving Consumer Goods | 0.68 | 19,056.00 |
| S&P BSE CAPITAL GOODS | 0.68 | 48,818.42 |
| S&P BSE AUTO | 0.72 | 38,549.51 |
| S&P BSE Healthcare | 0.74 | 29,449.60 |
| S&P BSE Industrials | 0.8 | 10,487.51 |
Share Market Today LIVE | Buy Praj Industries, Antony Waste shares, says Bhavin Shah
Market expert Bhavin Shah shares two trading calls with Zee Business viewers:
- Buy Praj Industries shares for targets of Rs 600 and Rs 610 with a stop loss at Rs 570
- Buy Antony Waste shares for a target of Rs 520 with a stop loss at Rs 480
EXCLUSIVE | RBI measures on unsecured loans in interest of banks, NBFCs, says SBI Chairman Dinesh Kumar Khara
In an exclusive interaction with Zee Business, Dinesh Kumar Khara, Chairman of State Bank of India (SBI), the country's largest bank, says that the RBI's tighter norms on unsecured loans are in the interest of banks and NBFCs. He also points out that the RBI is already concerned about unsecured loans and that the risk weightage was at 125 per cent in the pre-pandemic period.
Remarks from the top banker come as the RBI has tightened norms—in the form of higher capital requirements—for personal loans and credit cards, raising the risk of slowing loan growth. The banking regulator has raised the risk weights for banks and NBFCs—or the capital that lenders need to set aside for every loan—by 25 percentage points to 125 per cent on retail loans.
Watch the full interview here:
ZEE BUSINESS EXCLUSIVE
देश के नंबर 1 बिजनेस चैनल पर देश के सबसे बड़े सरकारी बैंक #SBI चेयरमैन दिनेश खारा से स्वाति खंडेलवाल की सबसे पहले और Exclusive बात...
RBI के कदम का हम पर आंशिक असर: दिनेश खारा, @TheOfficialSBI चेयरमैन@SwatiKJain #CorporateRadar pic.twitter.com/K3snh9U4Zx
— Zee Business (@ZeeBusiness) November 17, 2023
Market Today LIVE | Sell MCX copper futures, says Navneet Damani
Commodity Trading | Navneet Damani of Motilal Oswal Commodities suggests adopting a 'sell on rise' strategy on copper at the current juncture.
He has a 'sell' call on MCX copper futures for a target of Rs 705 with a stop loss at Rs 715.
Share Market Today LIVE | Buy Dr Reddy's, BHEL shares, says Nilesh Jain
Nilesh Jain of Centrum Broking shares two trading calls with Zee Business viewers:
- Buy Dr Reddy's Labs shares for targets of Rs 5,700 and Rs 5,750 with a stop loss at Rs 5,520
- Buy BHEL shares for targets of Rs 145 and Rs 148 with a stop loss at Rs 137
Share Market Today LIVE | MCX shares under pressure
Commodity exchange MCX's shares are down by Rs 36.9, or 1.2 per cent, at Rs 2,928.9 apiece on BSE, having dropped as much as 3.2 per cent to Rs 2,869.6 apiece earlier in the day.
Trading on MCX was disrupted on several occasions on Thursday with few traders complaining of order cancellations, sources told Zee Business.
Share Market Today LIVE | IndiGo, SpiceJet shares jump amid robust growth in domestic air passenger traffic
Domestic air passenger traffic grew 2.4 per cent sequentially to 1.3 crore in October, according to official data. Growth stood at about 11 per cent on a year-on-year basis.
Take a look at moves in airline stocks IndiGo and SpiceJet at this hour on BSE:
- InterGlobe Aviation (IndiGo): up 2.9 per cent at Rs 2,643 per share
- SpiceJet: up 2.0 per cent at Rs 38.8 apiece per share