Share Market HIGHLIGHTS: Nifty50 leaps to 20,097, Sensex surges 728 pts driven by financial, IT, auto stocks
Share Market Today LIVE: Domestic equity benchmarks Nifty 50 and Sensex on Wednesday, November 29, edged higher amid broad-based buying. Catch minute-by-minute updates of all the action in the Indian share market today, market commentary and analysis, the views of Zee Business Managing Editor Anil Singhvi and other experts, stocks to buy and trade recommendations only on Zeebiz.coms blog.
Share Market Today LIVE: Domestic equity benchmarks Nifty 50 and Sensex on Wednesday, November 29, edged higher amid broad-based buying and tracking a rise in Asian and US peers after dovish commentary from a US Federal Reserve official elevated bets of rate cuts by as early as March 2024.
Catch minute-by-minute updates of all the action in the Indian share market today, market commentary and analysis, the views of Zee Business Managing Editor Anil Singhvi and other experts, stocks to buy and trade recommendations only on Zeebiz.com's blog:
Latest Updates
Forex Market Update | Rupee ends barely changed at 83.33 vs dollar
The rupee (INR) settles at 83.33 against the greenback (USD), as against 83.34 the previous day.
Thank you! That's all today on Zeebiz.com's blog on the November 29 session on Dalal Street
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Closing Bell | Sensex surges 728 pts, Nifty50 leaps to 20,097 driven by financial, IT, auto stocks
Both headline indices finish the day around one per cent stronger amid broad-based gains on Dalal Street. The Sensex adds 727.7 points for the day to end at 66,901.9 and the Nifty50 settles at 20,096.6, up 206.9 points from its previous close.
Here's how the gauges moved during the course of the day:
Nifty50
Sensex
Images: NSEIndia.com, BSEIndia.com
The high-beta Nifty Bank index closes with a gain of 685.5 points, or 1.6 per cent, at 44,566.5.
Share Market Today LIVE | Nifty above 20,050, Sensex rises 700 pts amid broad-based buying
Share Market Today LIVE | Broad-based buying in Nifty continues, Nifty tops 20,000
Source: NSE
Share Market Today LIVE | Nifty IT trades nearly 1.5% higher
Source: NSE
Share Market Today LIVE | OMC stocks hit new 52-week high ahead of OPEC+ meeting
Oil marketing company (OMC) stocks in Wednesday's session (November 29) trade at new 52-week high as the crucial OPEC+ meet is scheduled for Thursday. In the meeting, the output policy will be decided for the upcoming months.
Crude refiners Indian Oil Corporation (IOC) and HPCL hit their fresh 52-week high for the second consecutive session of Rs 109.49 and Rs 348.4 per share, respectively. On the contrary, BPCL also notches a fresh 52-week high of Rs 434.3.
Share Market Today LIVE | Nifty Bank trades over 450 pts higher
Source: NSE
Share Market Today LIVE | BPCL board declares Rs 21/share dividend
The board of state-run oil marketing company BPCL announces an interim dividend of Rs 21 per share for the financial year 2023-24, a 210 per cent payout given the face value of Rs 10 per share.
The board fixes December 12 as the record date for the dividend.
BPCL says the dividend will be paid on or before December 28.
Here's how the stock has moved so far today:
Image: BSEIndia.com
Share Market Today LIVE | Investors turn cautious on BPCL as board meets to discuss dividend
Bharat Petroleum Corporation Ltd (BPCL) shares on Wednesday, November 29 edge lower ahead of the scheduled board meet today, November 29 of state-run oil marketing company to consider an interim dividend for the current fiscal. It shall be the OMCs fifth dividend announcement within a span of two years, if declared.
The Mumbai-headquartered Bharat Petroleum Corporation shares trade 0.26 per cent lower at Rs 423.4 on BSE. Read more
Anil Singhvi Market Strategy | Important levels to track in Nifty50, Nifty Bank today
Zee Business Managing Editor Anil Singhvi sees support for the headline Nifty50 index emerging at 19,800-19,835 levels and a strong buy zone at 19,700-19,765 levels on Wednesday, November 29. For the Nifty Bank, he expects support to come in at 43,675-43,775 levels and a strong buy zone at 43,450-43,575 levels.
Read more on how Anil Singhvi views the Indian share market today and what he recommends
Share Market Today LIVE | BHEL hits a 52-week high for 3rd session in a row on the back on defence deal and MoC with French nuclear firm
Shares of Bharat Heavy Electricals Ltd (BHEL) hit a 52-week high of Rs 162 on BSE on the back of a Rs 2,957 crore order with Ministry of Defence, and a deal with the world's largest nuclear operator from France. This is the third trading session in a row when BHEL shares have scaled the 52-week high. Read more
IREDA IPO Listing | Bumper debut on bourses, shares list at 56% premium
Shares of IREDA list at around 56 per cent premium on the BSE and National Stock Exchange (NSE). IREDA shares settle at Rs 50 on BSE and NSE i.e. at a premium of 56 per cent. Read more
Share Market Today LIVE | Nifty above 20k, Sensex rises over 350 pts amid broad-based buying
Share Market Today LIVE | Nifty above 19,950, Sensex rises over 250 pts
Nifty 50
Nifty trades above 19,950 up 0.38 per cent in opening deals.
Source: NSE
Sensex
Sensex rises over 250 points, to trade at 66,431 in opening deals.
Source: BSE
Currency Update | Rupee rises 3 paise to 83.31 against US dollar in early trade
Stocks to Watch | TCS, Tata Motors, IOCL, BHEL, other stocks
ZeeBiz takes you through the list of shares that can grab the headlines as the market opens on Wednesday (November 29).
TCS
The tech giant announced on Tuesday that its share buyback would open on December 1. The closing date for the same is December 7, 2023, TCS said in a BSE filing.
The IT major's board earlier gave the nod to buy back up to 4,09,63,855 equity shares of the company for an aggregate amount not exceeding Rs 17,000 crore, representing 1.12 per cent of the total paid-up equity share capital, at Rs 4,150 apiece, in a meeting held on October 11. To avail of the offer of the latest buyback from the IT company, one needs to own TCS shares in their demat account as of the record date, which was November 25.
Oil stocks
Oil stocks such as ONGC, Indian Oil (IOCL), Hindustan Petroleum (HPCL), and Bharat Petroleum (BPCL) will stay in focus amid the OPEC+ meeting, which is set to take place on Thursday at 13:00 GMT. In the meeting, individual quotas and supply cuts will remain the central topics. Lower crude prices can help oil stocks rise. Shares of HPCL, BPCL, and IOCL hit their respective 52-week highs on Tuesday after the crude oil prices fell below $80 on Monday. Further, BPCL shares will gain traction as its board will meet today to mull interim dividend for the FY24.
Auto Stocks
Auto stocks will be in focus after industry body FADA, releasing data on festive season sales, said on Tuesday that the automobile sector logged 19 per cent retail sales volume growth during the 42-day festive period. At the same time, automakers are also increasing prices of their vehicles. Amid two important factors, auto shares such as Tata Motors, Maruti Suzuki, TVS Motor and Eicher Motors will be on investor radar on Wednesday.
BHEL
The Ministry of Defence (MoD) has inked a contract worth Rs 2957 crore with heavy electrical equipment company. As part of the deal, the company will manufacture 16 advanced Super Rapid Gun Mounts and its accessories for the Indian Army. Read more
Share Market Today LIVE | GIFT Nifty futures indicate a positive start ahead on Dalal Street
GIFT Nifty futures — an early indicator of the Nifty 50 index — are up 81 points or 0.41 per cent at 20,034 ahead of the opening bell on Dalal Street.
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