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 50 and Sensex made a negative start to the day on Friday, November 17, in tandem with a pause across global markets after strong gains this week backed by better-than-expected macroeconomic data. Catch minute-by-minute updates of the day on Dalal Street, and the views of Zee Business Managing Editor Anil Singhvi and other market experts on Zeebiz.coms 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:
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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:
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
Share Market Today LIVE | Delhivery Block Deal | Logistics stock near day's low, slips below Rs 400 mark after more than a week
Delhivery shares fall by as much as Rs 15.6, or 3.8 per cent, to Rs 398.8 apiece on BSE, sliding below the Rs 400 mark in intraday trade for the first time since November 6.
Share Market Today LIVE | Market breadth favours the bulls
Overall market breadth remains skewed in favour of the bulls since the start of the day. The advance-decline ratio on BSE stands at 7:5 at this hour.
Image: BSEIndia.com
Share Market Today LIVE | IRCTC, MRF, Info Edge (Naukri), USL trade ex-dividend
Nearly two dozen stocks have gone ex-dividend today, including IRCTC, MRF, Info Edge, United Spirits, and the newly-listed RR Kabel.
Here’s the full list:
- Stylam Industries
- Crown Lifters
- Panama Petrochem
- Polyplex Corporation
- Precision Wires India
- Ram Ratna Wires
- RR Kabel
- Vidhi Specialty Food Ingredients
- Procter & Gamble Hygiene and Health Care
- Archean Chemical Industries
- Indian Railway Catering and Tourism Corporation
- Jamna Auto Industries
- Man Infraconstruction
- United Spirits
- Metropolis Healthcare
- MRF
- Info Edge
- Gabriel India
- Page Industries
- Computer Age Management Services (CAMS)
Market Today LIVE | Global gold extends gains, on track for first weekly gain in three
The rise comes about as investors step up bets that the Fed is done raising benchmark interest rates, pressuring the dollar and Treasury yields.
- Spot gold: up 0.2 per cent at $1,984.5/ounce
- US gold futures: flat at $1,987.2/ounce.
- Spot silver: up 0.4 per cent at $23.8/ounce
Spot gold scaled its highest level since November 6 on Thursday.
Market Today LIVE | MCX gold, silver futures trade in narrow range
Gold and silver futures are a mixed bag this morning, stuck in tight ranges. MCX gold futures are up by Rs 79, or 0.1 per cent, at Rs 60,801 per 10 grams, and MCX silver futures down by Rs 90, or 0.1 per cent, at Rs 73,270 per kilogram.
Read more on MCX gold, MCX silver (December 5) futures
Image: Reuters
Share Market Today LIVE | Cyclicals steal the show as Q2 earnings season ends on a buoyant note
With the near end of the corporate results season, it is that time of the year when analysts and investors scan through the length and breadth of the various sectors to form an overall view of the financial performance of India Inc.
According to Motilal Oswal Financial Services, top companies from the Nifty pack have posted a broad-based beat, with cyclicals primarily driving earnings.
“The 2QFY24 corporate earnings ended on a buoyant note with a widespread outperformance across aggregates driven by margin tailwinds,” the brokerage points out.
Share Market Today LIVE | ONGC, Oil India shares under pressure as crude oil price slumps
Oil and Natural Gas Corporation (ONGC) shares fall by as much as Rs 4.7, or 2.3 per cent, to Rs 197.2 apiece on BSE, while the Oil India (OIL) stock declines by Rs 3.8, or 1.2 per cent, to hit Rs 319.2 at its intraday low owing to the sharp fall in benchmark crude oil rates.
Share Market Today LIVE | Axis Bank, SBI, HDFC Bank lead losses in banking pack after RBI announces stricter personal loans, credit card norms
Here's what some of the key banking and NBFC stocks look like:
Stock CMP Change (%) LICHSGFIN 467 1.03 MUTHOOTFIN 1,337.45 0.87 IEX 137.15 0.77 KOTAKBANK 1,770.75 -0.12 BAJAJFINSV 1,613.55 -0.44 HDFCBANK 1,501.20 -0.47 ICICIBANK 931.15 -0.52 BAJFINANCE 7,236.00 -1.72 AXISBANK 999.9 -2.58 CHOLAFIN 1,129.70 -3.06 SBIN 566.5 -3.1 SBICARD 729.75 -5.54 Share Market Today LIVE | HCL Tech, Indigo, Dr Reddy’s Labs among analysts' top picks
In conversation with Zee Business Managing Editor Anil Singhvi, market experts Rakesh Bansal, Kunal Saraogi, Sumeet Bagadia, Siddharth Sedani, Sacchitanand Uttekar, Rajesh Palviya and Sandeep Wagle share their top stock recommendations in this special segment, Pick of the Day. On their 'buy' list are stocks such as Sun Pharma Advanced Research Company (SPARC), Tech Mahindra (TECHM), Cyient, InterGlobe Aviation (INDIGO), Dr Reddy's Laboratories (DRREDDY) and HCL Tech (HCLTECH).
- Rajesh Palviya of Axis Securities recommends buying Dr Reddy's Laboratories shares for targets of Rs 5,620 and Rs 5,640 with a stop loss at Rs 5,510
- Sandeep Wagle of Sandeep Wagle Advisory recommends buying HCL Technologies shares for targets of Rs 1,350 and Rs 1,370 with a stop loss at Rs 1,290
Check out the complete list here
Share Market Today LIVE | Nifty50 recovers initial losses led by auto, FMCG stocks
The blue-chip index makes a dramatic comeback on the back of strength in counters such as Asian Paints (ASIANPAINT), HUL (HINDUNILVR) and Mahindra & Mahindra (M&M), up 40.8 points or 0.2 per cent for the day to climb to as high as 19,806 and 138.6 points from its intraday low. Here's how the index and the leaner Sensex fare some 50 minutes into the opening bell:
Nifty50 LIVE
Sensex LIVE
Images: NSEIndia.com, BSEIndia.com
Share Market Today LIVE | EDITOR'S TAKE | Buy Nifty at 19,525-19,575 levels, sell at 19,875-19,950, says market wizard Anil Singhvi
Zee Business Managing Editor Anil Singhvi sees support for the headline Nifty50 index coming in at 19,625-19,700 levels and a strong buy zone at 19,525-19,575 levels today.
For the Nifty Bank, he expects support to emerge in the 43,900-44,050 band followed by a stronger base at 43,625-43,800 levels.
Catch Anil Singhvi's full strategy for the day hereShare Market Today LIVE | Sensex drops 200 pts, Nifty slips below 19,750; financial stocks lead losses on Dalal Street
- SBI: down 3%
- Bajaj twins: down 2%
Share Market Today LIVE | Rupee opens flat at 83.23 vs dollar
The rupee (INR) begins the day unchanged from the previous day's close, at 83.23 against the greenback (USD).
Share Market Today LIVE | Crude oil slumps to four-month low amid US, Chinese economic concerns
Crude oil prices dropped about five per cent on Thursday to their lowest in four months as investors worried about global oil demand following weak data from the US and Asia.
- Brent futures: down by $3.8, or 4.6 per cent, at $77.4 a barrel
- US West Texas Intermediate crude (WTI) futures: down by $3.8, or 4.9 per cent, at $72.9
Both Brent and WTI earlier traded at their lowest since July 7, at $76.6 and $72.2, respectively.
Share Market Today LIVE | Caution persists across Asian markets
Equities across major Asian markets take a breather as a batch of softer US economic data takes some of the steam out of Wall Street but also ends up boosting bonds in a big way. MSCI's broadest index of Asia-Pacific shares outside Japan is down 0.6 per cent at this hour, further retreating from a two-month high, though on course to register its best week since July.
Here's how some of the key indices in the region fare:
- Japan's Nikkei 225: flat
- China's Shanghai Composite: down 0.2 per cent
- Hong Kong's Hang Seng: down 2.0 per cent
- Singapore's Straits Times: down 0.6 per cent
- South Korea's KOSPI: down 0.7 per cent
Read more on Asian stocks here
Share Market Today LIVE | Dow Jones dips amid weakness in Cisco, Walmart; S&P 500, Nasdaq Composite eke out small gains
The three main US stock market benchmarks—the Dow Jones Industrial Average, the S&P 500 and the Nasdaq Composite—staged mixed moves within a narrow range on Thursday, amid a pause in a rally this week on the back of better-than-expected macroeconomic data backed hopes the Fed is done hiking key interest rates.
Here's how the three indices fared at the end of the day:
- Dow Jones Industrial Average: down 45.7points, or 0.1 per cent, at 34,945.5
- S&P 500: up 5.4 points, or 0.1 per cent, at 4,508.2
- Nasdaq Composite: up 9.8 points, or 0.1 per cent, at 14,113.7
Cisco Systems shares tanked 9.8 per cent after the communications and networking technology company cut its full-year revenue and profit forecasts on slowing demand for its networking equipment.
Earlier this week, Wall Street indexes had rallied sharply with data signaling cooling U.S. inflation and fueling hopes the U.S. Federal Reserve is done hiking interest rates. Also, passage this week of a stop-gap bill to avert a government shutdown eased some nerves.
Share Market Today LIVE | IRCTC, MRF, Info Edge, United Spirits, 17 other stocks to ex-dividend today
As many as 21 stocks are scheduled to trade ex-dividend today, including Indian Railway Catering and Tourism Corporation (IRCTC), MRF, Info Edge (Naukri), United Spirits, Precision Wires India, and the newly-listed RR Kabel.
Share Market Today LIVE | Nifty50 at a nearly one-month closing high
Both headline indices managed to close with gains to the tune of half a per cent, through well off their highest levels of the day, following a dramatic intraday recovery in a volatile session on Thursday. While the Nifty 50 89.8 points higher for the day at 19,765.2, the Sensex rose 306.6 points to 65,982.5, with the 50-scrip index logging its highest close since October 18.
The indices mirrored global stocks after softer-than-expected US inflation data strengthened hopes of an end to the rate-hiking cycle in the world's largest economy.
Share Market Today LIVE | GIFT Nifty futures down 45 pts, signal a negative start ahead for Nifty 50
Domestic stock exchanges NSE and BSE are all set to start trade in about 45 minutes from now following a 15-minute-long pre-opening session.
GIFT Nifty futures, an early indicator of the benchmark Nifty50 index, is down 45 pts, or 0.2 per cent, at 19,790 at this hour, suggesting a weak start ahead on Dalal Street today.
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