Business News›Traders' Diary: Nifty will witness a bounce if it holds 12,850-12,900 levels
Economic Times | 26 Nov, 2020 | 07.30AM IST
Traders' Diary: Nifty will witness a bounce if it holds 12,850-12,900 levels
Banks and RIL lead the market fall as 28 of 30 Sensex stocks end the day in the red
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Ahead of Market: 12 things that will decide stock action on Thursday
Mazhar Mohammad of Chartviewindia.in said that the index could turn sideways only if it manages to defend the recent low of 12,833 in Thursday's trade.
Why RBI needs to go slow on its record piling of forex reserves
There may be a limit to which the central bank continues to keep piling forex because this results in a surge in rupee liquidity that distorts loan pricing and hence bank profitability
Dow Jones falls as labor market recovery slows
The Dow Jones Industrial Average was down 118.63 points, or 0.39%, at the open to 29,928.23. The S&P 500 opened flat at 3,628.61, while the Nasdaq Composite gained 23.11 points, or 0.19%, to 12,059.85at the opening bell.
Trading in Lakshmi Vilas Bank shares to be suspended from Thursday
Earlier in the day, the Reserve Bank of India said the amalgamation of the bank with DBS Bank India will come into force from November 27 and the moratorium imposed on the crisis-ridden lender will be removed on that day.
Why ETFs are more efficient than largecap funds in mirroring a bull run
A sample of ETFs each with more than Rs 1,000 crore worth of assets under management (AUM) outperformed the large-cap funds of similar AUM size by 2.1% over the past year.
F&O: Nifty negates higher lows formation; VIX sees a spike
Nifty has to hold above 12,850- 12,900 levels now to witness a bounce towards 13,000 and 13,050 levels, while a hold below the same could see weakness towards 12,800 and 12,750 levels.
Tech View: Nifty forms 'Bearish Engulfing' candle, index recovery looks vulnerable
The daily momentum indicator has triggered a bearish crossover, said Gaurav Ratnaparkhi, Senior Technical Analyst at Sharekhan.
Market Movers: Lakshmi Vilas Bank defies gravity, 42 stocks send ‘Sell’ signal on MACD
More than 275 stocks hit their upper circuits on the BSE, while 200 counters hit their lower circuit limits.
D-St Selloff: Investors lost Rs 2 lakh crore, these midcaps took a big hit
The BSE Bankex index fell 1.66 per cent while the BSE IT index declined 1.5 per cent.
This is how the 30-pack Sensex moved in today's session. It touched a high of 44,825.37 and a low of 43,757.97 to finally settle at 43,828.10
CLOSING BELL: Sensex tumbles from record high, settles 695 pts lower; Nifty barley holds above 12,850; ONGC bucks weak trend, rises 6%
- Banks and RIL lead the market fall
- 28 of 30 Sensex stocks end the day in the red
- Index contributors: HDFC Bank, Infosys, Kotak Bank, Axis Bank, RIL
- Top Index gainers: ONGC (6.11%), Power Grid (0.11%)
- Top Index losers: Axis Bank (3.48%), Kotak Bank (2.94%), Sun Pharma (2.58%)
- All BSE sectoral indices except oil and gas end the day in the red
- S&P BSE OIL & GAS biggest sectoral gainer, up 0.11%
- S&P BSE Telecom biggest sectoral loser, down 2.20%
- Volume toppers: RIL Bajaj Fin, ICICI Bank, SBI, IndusInd Bank
Here are the top gainers and losers in the power sector
Price as on 25 Nov, 2020 03:22 PM, Click on company names for their live prices.
Forex Center: This is how the major currencies are trading against each other
Here are the top losers in the real estate sector
Price as on 25 Nov, 2020 02:58 PM, Click on company names for their live prices.
S&P BSE Telecom biggest sectoral loser, down 2.5%. This is how the index stocks are faring
All BSE sectoral indices trading in the red
Here are the top gainers and losers in the tourism and hospitality sector
Price as on 25 Nov, 2020 02:34 PM, Click on company names for their live prices.
LVB shares rise after Cabinet approves merger with DBS India
On November 17, the RBI unveiled a draft merger scheme under which DBS will infuse Rs 2,500 crore regulatory capital into the cash-strapped LVB. The regulator wants the entire process to be completed by December 16.
HDFC to acquire 19.9% stake in Renaissance Investment Solutions ARC
Mortgage lender HDFC Ltd on Wednesday said it will acquire nearly 20 per cent stake in Renaissance Investment Solutions ARC (asset reconstruction company) Private Ltd for Rs 49.8 lakh. HDFC Ltd on Wednesday entered into agreements for investment in Renaissance Investment Solutions ARC Private Limited, the company said in a regulatory filing.
These stocks defy market mood, rally up to 10%
Price as on 25 Nov, 2020 02:19 PM, Click on company names for their live prices.
BSE Sensex tanks over 700 points from day's high, slips below 44,000
JSW Cement aims listing in December 2022
JSW Cement has pushed back its plans for an initial public offering by two years to around December 2022 due to slowdown and COVID-19 disruptions, a top company official said on Wednesday. The company had already drawn an ambitious plan to expand its combined cement capacity to 25 million tonne by 2023 at a CapEx of Rs 3600 crore.
Cabinet approves LVB & DBS India merger
Price as on 25 Nov, 2020 01:19 PM, Click on company names for their live prices.
Biggest drags on Sensex
Market rally to continue in 2021 on vaccine hopes: Reuters Poll
India's stock market rally is set to continue and hit new record highs in 2021, according to a Reuters poll of equity strategists who overwhelmingly expected corporate earnings to return roughly to pre-pandemic levels within a year.
The Nov. 12-24 Reuters poll of over 35 equity strategists predicted the BSE Sensex index, which is currently trading at a record high, would set new all-time peaks in the next year. It was forecast to rise about 3% from Tuesday's high to 45,750 by mid-2021.
The Nov. 12-24 Reuters poll of over 35 equity strategists predicted the BSE Sensex index, which is currently trading at a record high, would set new all-time peaks in the next year. It was forecast to rise about 3% from Tuesday's high to 45,750 by mid-2021.
HDFC Bank m-cap surges past Rs 8 lakh crore mark
The market capitalisation of HDFC Bank went past Rs 8 lakh crore in early trade on Wednesday, making it the first domestic lender to achieve the feat. The company's market valuation rose to Rs 8,05,742 crore on the BSE. Shares of the company jumped 1.76 per cent to its one-year high of Rs 1,464 on the BSE. HDFC Bank is the third most valued domestic firm in terms of market capitalisation.
Amazon-Future saga
.@NSEIndia warned #FutureRetail of action over disclosures on @amazon dispute (From Agencies) https://t.co/rol5ipW0Yg
— ET NOW (@ETNOWlive) 1606285456000IRB Infrastructure climbs 4%; here's why
Shares of IRB Infrastructure Developers climbed 4 per cent in Wednesday's trade after the company said that the Agra-Etawah build-operate-transfer project has been issued a completion certificate.
These stocks fall in line with market mood, tank up to 6%
Price as on 25 Nov, 2020 11:33 AM, Click on company names for their live prices.
Union Bank surges 5% on Rs 1,000 crore fund raising plan
Shares of Union Bank of India jumped 5 per cent in Wedesday's trade after the state-owned bank said it will raise up to Rs 1,000 crore from bonds to fund business growth. "The bank is issuing Basel III compliant Tier II bonds in the nature of debentures aggregate issue size not exceeding Rs 1,000 crore, with a base issue size of up to Rs 500 crore and a Green Shoe option to retain oversubscription up to Rs 500 crore," it said in a BSE filing.
Gland Pharma stock rallies 7%
Newest market debutant Gland Pharma rose more than 7 per cent on Wednesday, logging nearly 47 per cent gains over its issue price of Rs 1,500. The stock was listed on November 20, and it has gained in the two of the last three trading sessions. On November 23, Ambit Capital initiated coverage of the stock with a buy rating and a price target of Rs 2,109, which was breached the same day.
Nifty slips below 13,000
BSE IT top sectoral loser, down over 1%
Sectoral Update: Bankex, Finance, Energy only sectors in the green on BSE
Top Sensex drags at this hour
Sensex off day's high, up only 100 points
We have successfully achieved the Nifty target of between 13,100-13,200 this morning. This zone could prove to be a resistance zone and there is every possibility we witness profit booking. Traders can utilise the current market level to lighten up on their positions and use a trailing stop loss method. The support is now upgraded to 12,800.
- Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments
Voda Idea, IOB, ONGC among most active stocks on NSE
Price as on 25 Nov, 2020 09:22 AM, Click on company names for their live prices.
OPENING BELL: Sensex hits fresh high, rises 278 points, Nifty nears 13,150; IOB rallies 15%, ONGC 4%
Pre-open session: Sensex rises 185 points, Nifty tops 13,100
SGX Nifty signals positive start
Nifty futures on the Singapore Exchange traded 82.50 points, or 0.63 per cent higher at 13,193, in signs that Dalal Street was headed for a positive start on Wednesday.
Tech View: Nifty eyes 13,350
Nifty50 on Tuesday broke above the crucial resistance of 13,000-mark with ease. The index formed a bullish candle on the daily chart. Analysts said the bulls seem to be in no mood to give in. They believe the index could flirt with the 13,350 level in the coming days. The index closed the day at 13,055.15, up 128.70 points or 1 per cent. With this, the index finally gave a consolidation breakout after six trading sessions, said Chandan Taparia of Motilal Oswal Securities.
Asian markets rise in early trade
Asian stocks made early gains on Wednesday, following a world rally overnight that saw the Dow Jones benchmark crack 30,000 for the first time as investors cheered a dramatically improved global outlook. Australia's S&P/ASX 200 rose 0.77 per cent and Japan's Nikkei 225 gained 1.16 per cent. Hong Kong's Hang Seng rose 0.24 per cent. E-mini futures for the S&P 500 rose 0.17 per cent and MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.36 per cent.
Oil takes breather after vaccine rally as stockpiles rise
US oil edged lower on Wednesday, after an industry report showed crude stockpiles in the United States rose against expectations, tempering a rally driven by news that another vaccine against COVID-19 had proved effective in trials. West Texas Intermediate crude was down 14 cents, or 0.3 per cent, at $44.77 a barrel, after rising more than 4% on Tuesday. Brent crude was yet to trade, having risen almost 4 per cent in the previous session.
US indices end at record high levels
Stocks closed broadly higher on Wall Street Tuesday, sending the Dow Jones Industrial Average above 30,000 points for the first time. The S&P 500 also climbed to an all-time high. The S&P 500 index rose 57.82 points, or 1.6 per cent, to 3,635.41. The Dow gained 454.97 points, or 1.5 per cent, to 30,046.24. The Nasdaq composite picked up 156.15 points, or 1.3 per cent, to 12,036.79.
Rupee rises by 10 paise to 3-week high on foreign fund inflows
The rupee appreciated by 10 paise to close at a three-week high of 74.01 against the US dollar on Tuesday on sustained foreign fund inflows and positive development over coronavirus vaccine. Traders said investor risk sentiment improved amid growing hopes of an early rollout and efficacy of COVID-19 vaccines, helping the local unit to extend gains for a third straight session.
FII inflows cross Rs 50K cr in a month for the first time
For the first time, buying by foreign institutional investors (FIIs) has crossed Rs 50,000 crore in a month in November. There are six days still left to go in the month. Till November 24, FIIs have bought equities worth Rs 50,501.07 crore and on Tuesday they bought equities worth Rs 4,563.18 crore.
Sensex, Nifty on Tuesday
Indian equity indices conquered new peaks on Tuesday, with the Nifty closing above the 13,000-level for the first time, as banking, FMCG and auto stocks saw heavy buying amid optimism over COVID-19 vaccine progress and unabated foreign capital inflows. The 30-share BSE Sensex ended 445.87 points or 1.01 per cent higher at a record 44,523.02. Similarly, the broader NSE Nifty climbed 128.70 points or 1 per cent to close at 13,055.15.
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