Business News›Traders' Diary: Nifty slipping below 12,800 may trigger profit booking
Economic Times | 01 Dec, 2020 | 09.21AM IST
Traders' Diary: Nifty slipping below 12,800 may trigger profit booking
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Vedanta's tussle with Kyma Capital puts spotlight on Cairn India Holdings' misdoings
London-based Vedanta Resources merged Cairn with its India unit Vedanta Ltd. in 2017. It’s now a unit of Vedanta Ltd., and owns a stake in its key oil field in the northern Indian state of Rajasthan.
Why small banks may struggle to raise money via bonds post LVB debacle
People tracking the bond market said these banks could face heat as investors are likely to demand a higher premium with the regulator setting a precedent of wiping out bond holdings. Some of the weak public sector banks, too, may see pressure on risk premium, they told ET.
F&O: Lower volatility helping the bulls in tug of war with the bears
Nifty has to hold above 12,900 level to witness a bounce towards 13,150 and then 13,250 levels, while on the downside, support exists at 12,800 level.
Dow Jones gains on recovery hopes after Thanksgiving holiday
The Dow Jones Industrial Average rose 38.86 points, or 0.13%, at the open to 29,911.33. The S&P 500 opened higher by 8.90 points, or 0.25%, at 3,638.55, while the Nasdaq Composite gained 64.78 points, or 0.54%, to 12,159.18.
Will India’s GDP turn positive by Q4FY21? Here’s what analysts say
India's economy recovered faster than expected in the September quarter as a pick-up in manufacturing helped GDP clock a lower contraction of 7.5 per cent.
Rural theme could continue to outpace urban for one more year: Nirmal Jain
The low interest rate has a big role in reviving growth and I only hope that RBI and the government maintain benign liquidity and in a falling interest rates scenario,says the Chairman & CEO, IIFL Finance.
Tata Power raises Rs 1,000 cr via debentures
Delay in payment of interest/principal amount for a period of more than three months from the due date or default in payment or interest/principal will trigger an event of default and levy of additional interest, it said.
Market Movers: Gas distributions stocks rally; 36 stocks flash ‘buy’ signals
As much as 329 stocks on the BSE hit their upper circuits on the BSE. Some of the stocks in the list included 63 Moons, Refex, Edelweiss Financial Services, DHFL and Aarti Surfactants, among others.
Tech View: Nifty50 forms Doji on weekly chart, sends out negative signal
Analysts largely see 12,750-13,150 as the range for the index for the coming week. A break above this range can offer directional cues, they said.
Burger King IPO to open on Dec 2; price band fixed at Rs 59-60 per share
Promoter entity QSR Asia Pte Ltd will sell up to 6 crore shares, aggregating to Rs 360 crore at the upper end of the price band, it added.
Top 5 NSE gainers & losers
Price as on 27 Nov, 2020 03:40 PM, Click on company names for their live prices.
CLOSING BELL: Sensex sheds 110 points, Nifty ends at 12,969; MGL rallies 13%, IIFL Finance declines 7%
- 10 Sensex stocks end in the green
- RIL, TCS and Nestle top Sensex drags
- Nestle falls 4%, Asian Paints rises 2%
- BSE Energy worst sectoral loser
- BSE Realty best sectoral performer
- BSE Smallcap, Midcap index nearly 2% each
Gas transmission cos jump as regulator simplifies gas pipeline tariff
Oil regulator Petroleum and Natural Gas Regulatory Board (PNGRB) has simplified the country's gas pipeline tariff structure to make the fuel more affordable for distant users and to attract investment for building gas infrastructure.
Forex Center: This is how the major currencies are faring against each other
Nikkei rallies for fourth day, ends at over 29-1/2-yr high on recovery hopes
Nikkei rose 0.41% to close at 26,644.71. The index has gained 15.96% this month, and is on track for its best performance since January 1994. The broader Topix rose 0.47% to hit a 25-month high at 1,786.52.
Here are the top gainers in the tourism and hospitality sector
Price as on 27 Nov, 2020 02:36 PM, Click on company names for their live prices.
VIL signs up partners in learning, health space for digital proposition to customers
Price as on 27 Nov, 2020 01:06 PM, Click on company names for their live prices.
Here are the top 10 NSE losers
Price as on 27 Nov, 2020 12:50 PM, Click on company names for their live prices.
Top gainer & loser from petchem sector
Price as on 27 Nov, 2020 12:45 PM, Click on company names for their live prices.
CG Power hits upper circuit after Tube Investments takes over majority stake
CG Power and Industrial Solutions jumped nearly 5 per cent in Friday's session after it said Murugappa Group firm Tube Investments of India (TII) has acquired a controlling stake in it and now holds 50.62 per cent stake in the company. At 9:29 am, CG Power was up 4.97 per cent at Rs 41.15 per share, while TII climbed 2.45 per cent to Rs 835. In comparison, benchmark Sensex was up 0.01 per cent at 44,264.58 points.
NSE declares Anugrah Stock & Broking as defaulter
National Stock Exchange of India (NSE) declared Anugrah Stock & Broking as a defaulter and expelled it from the membership. On November 13, markets regulator Securities and Exchange Board of India (Sebi) had ordered the scam-tainted broking firm to stop its operations and barred its promoters Paresh Kariya and Sadhana Kariya from the market.
Cadila Healthcare advances 5% as drugmaker may introduce Covid vaccine by March
Shares of Cadila Healthcare advanced 5 per cent in Friday's trade on reports the drugmaker is expected to introduce its Covid-19 vaccine by March next year "if all goes well", a person with direct knowledge of the matter told ET. The Ahmedabad-based drug maker will submit the results of its phase-2 trials next week, which "will ascertain the safety, dose and efficacy of the potential vaccine", said the person who requested not to be identified.
Top losers & gainers from tourism & hospitality space
Price as on 27 Nov, 2020 11:17 AM, Click on company names for their live prices.
The resistance level for the Nifty is at 13,050 and if we can cross that, we could head to 13,200 by next week. A strong support lies at 12,800 and thereafter at 12,500. It is only post the breaking of 12,500 that we would consider a short term correction. Until then, the trend remains bullish with a strong upside momentum.
- Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments
For today, we expect the USDINR (Spot) to trade lower and quote in the range of 73.70 and 74.20
- MOSL
Top 5 gainers from the realty space
Price as on 27 Nov, 2020 10:43 AM, Click on company names for their live prices.
Markets are likely to consolidate around the current levels in the short run. However, in the medium term, markets are likely to turn increasingly volatile. Valuations are high and therefore upside is limited. Stick to bluechips, particularly in performing sectors like IT and financials. If Sensex moves beyond 45,000, increase cash levels. Invest in mid-small-caps through mutual funds.
- VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services
Voda Idea, SAIL, YES Bank among most active stocks on NSE
Price as on 27 Nov, 2020 09:21 AM, Click on company names for their live prices.
OPENING BELL: Sensex rises 45 points, Nifty above 13,000; IGL surges 10%, MGL 8%
Pre-open session: Sensex gains 50 points, Nifty above 13,000
SGX Nifty signals muted start
Nifty futures on the Singapore Exchange traded 1.5 points, or 0.01per cent higher at 13,047, in signs that Dalal Street was headed for a muted start on Friday.
Tech View: Nifty50 seeing buying at lows
Nifty50 on Thursday tested 12,800, before rebounding amid the expiry of November series futures and options contracts. At close, the index failed to top the 13,000 level by a whisker, but ended up forming a bullish candle on the daily chart and an indecisive ‘Doji’ candle on the weekly scale. Analysts said while every fall is being bought into, market participants are turning indecisive at the higher levels.
Doubts raised over AstraZeneca's vaccine efficacy
British drugmaker AstraZeneca's coronavirus drug was touted as a "vaccine for the world" due to its inexpensive cost, but the efficacy of the vaccine is now facing more intense scrutiny, which experts say could delay its approval. Several scientists have raised doubts about the robustness of results showing the shot was 90% effective in a sub-group of trial participants who, by error initially, received a half dose followed by a full dose.
Oil mixed as rally falters over supply concerns
Oil prices were mixed on Friday in quiet trade due to the US Thanksgiving holiday, with WTI dropping more than 1 per cent amid concerns about oversupply and doubts about a vaccine to end the coronavirus pandemic. WTI was down by 69 cents, or 1.5 per cent, at $45.02. US crude prices did not settle due to the holiday. Brent crude was up by 9 cents at $47.89, having fallen 1.7 per cent overnight.
Asian shares grind lower amid vaccine doubts
Asian shares fell slightly on Friday, pulling back from a record high hit earlier this week, amid renewed doubts about a highly-anticipated coronavirus vaccine and concern about the economic impact from the pandemic. MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.07 per cent. Australian shares were down 0.15 per cent. Japan's Nikkei fell 0.09 per cent.
US markets shut for Thanksgiving Day
Wall Street was shut on Thursday on account of Thanksgiving holiday. Ahead of the holiday, the Dow and S&P500 ended lower on Wednesday after hitting records the day before, while the Nasdaq hit a new all-time high as tech firms surged.
DIIs sell Rs 3,400 cr worth of stocks
Net-net, foreign portfolio investors (FPIs) were buyers of domestic stocks to the tune of Rs 2,027 crore, data available with NSE suggested. DIIs were net sellers to the tune of Rs 3,400 crore, data suggests.
Rupee logs fifth straight gains, rises 3 paise against US dollar
Rising for the fifth straight session, the rupee appreciated 3 paise to close at 73.88 against the US dollar on Thursday, tracking heavy buying in domestic equities and sustained foreign fund inflows. At the interbank forex market, the domestic unit traded in a narrow range as rising COVID-19 cases offset positive sentiments surrounding the progress on the vaccine front.
Sensex, Nifty on Thursday
Equity indices resumed their ascent on Thursday after a day's breather, buoyed by banking and financial stocks, as the November series derivative contracts expired amid largely positive cues from global markets. After a volatile session, the 30-share BSE Sensex ended 431.64 points or 0.98 per cent higher at 44,259.74. Similarly, the broader NSE Nifty surged 128.60 points or 1 per cent to 12,987.
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