Equity benchmark Sensex opened on a choppy note on Monday and dropped over 100 points tracking losses in index majors Infosys, HDFC Bank and Kotak Bank, despite a largely positive trend in global markets. The 30-share index opened on a positive note but soon pared the gains and was trading 114.93 points or 0.19 per cent lower at 60,706.69 in initial deals. Similarly, the Nifty declined 58.55 points or 0.32 per cent to 18,056.35. But by 12 pm, the Sensex is trading 300 points up while the Nifty is 75 points up, though below 17,500. Asian Paints was the top loser in the Sensex pack, shedding around 3 per cent, followed by IndusInd Bank, HCL Tech, Bharti Airtel, Kotak Bank and Bajaj Auto. On the other hand, ICICI Bank zoomed 8 per cent on strong earnings. Axis Bank, M&M and NTPC were among the other gainers.
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ITC starts clinical trials of nasal spray for COVID-19 prevention
Price as on 25 Nov, 2021 02:23 PM, Click on company names for their live prices.
Asian stocks down after Fed says ready to act on inflation
Asian stock markets fell on Thursday after Federal Reserve officials indicated they were ready to raise interest rates sooner than expected if needed to cool inflation. Market benchmarks in Shanghai, Hong Kong, Seoul and Sydney declined. Tokyo advanced. The Shanghai Composite Index fell 0.3% to 3,581.32 while the Nikkei 225 in Tokyo gained 0.7% to 29,500.57. The Hang Seng in Hong Kong shed 0.2% to 24,633.67. The Kospi in Seoul retreated 0.5% to 2,979.39 and Sydney’s S&P-ASX 200 gave up less than 0.1% to 7,379.30. New Zealand and Jakarta advanced while Singapore declined.
Nifty Energy index up 1.74%, led by RIL
Only CNG, electric vehicles allowed to enter Delhi from Nov 27, rest banned till Dec 3: Environment Minister Gopal Rai
Tube Investments Of India Ltd has acquired 25% stake in Aerostrovilos Energy
Price as on 25 Nov, 2021 01:40 PM, Click on company names for their live prices.
Acer India, Dixon Tech partner to make up to 5 lakh laptops annually in India
Price as on 25 Nov, 2021 01:36 PM, Click on company names for their live prices.
ITC starts clinical trials of nasal spray for COVID-19 prevention
Price as on 25 Nov, 2021 01:35 PM, Click on company names for their live prices.
S&P BSE Smallcap index up half a per cent at 1.30 pm
Trai proposes cutting USSD charges for mobile banking to zero
The telecom regulator on Wednesday proposed reducing tariffs for USSD-based mobile banking and payment services to zero from 50 paise, in a bid to protect the interest of feature phone users and boost digital financial inclusion.
Nifty Pharma up almost 1%; GSK Pharma, Torrent, Laurus Lab lead the surge
Price as on 25 Nov, 2021 01:18 PM, Click on company names for their live prices.
Expect Central Bank to come out of PCA framework after Dec 31: FinMin
Price as on 25 Nov, 2021 01:01 PM, Click on company names for their live prices.
India economic growth to rebound strongly, FY22 GDP growth pegged at 9.3%, says Moody’s
Moody’s Investors Service in its latest report has projected that the economic growth in India will rebound strongly. It has pegged GDP growth for the nation at 9.3% and 7.9% in FY22 and FY23, respectively. Steady progress in Covid vaccination will support a sustained recovery in India’s economic activity, Moody’s analyst Sweta Patodia said.
Nelco MD and CEO PJ Nath says profitability to go up as scale improves
#MarketsWithETNOW | Expect performance in #satellite communication to improve, profitability will go up as scale in… https://t.co/peRYlzQWjq
— ET NOW (@ETNOWlive) 1637824756000
Shares of Dixon Technologies up 2.15% after jumping 4 per cent in early trade on Thursday after Taiwanese IT hardware firm Acer said it has roped in the domestic electronic manufacturing services firm for constructing laptops in India.
Price as on 25 Nov, 2021 12:50 PM, Click on company names for their live prices.
Tata Steel announced commissioning of an 8 million tonne iron ore crushing and washing plant in Odisha. But the stock is trading in red as the Nifty Netal index is trading 0.17% down
Price as on 25 Nov, 2021 12:49 PM, Click on company names for their live prices.
BlackRock, Canada Pension bought more Paytm stock after 41% crash
ICICI Bank, India’s largest private sector lender raised Rs 3,595 crore through infrastructure bonds for the second time this financial year, in what could signal demand revival in the sector as vaccinations and slowing infections rekindle hopes. However the stock is trading over 1% down.
Price as on 25 Nov, 2021 12:20 PM, Click on company names for their live prices.
Shares of Siemens tanked 8 per cent in early trade on Thursday as the company reported a 2.6 per cent on-year decline in consolidated net profit in July-September to Rs 321.6 crore. At 12.20, it is trading 5.81% down
Price as on 25 Nov, 2021 12:19 PM, Click on company names for their live prices.
Part of the reason FIIs are selling is not because they have given up on the growth story of India but because valuations are not cheap and the inflation risk is as real in India as it is anywhere else in the world and yet RBI, historically one of the more vigilant central banks, right now it seems to be more on the dovish side.
– Arvind Sanger, Managing Partner, Geosphere Capital Management
Shares of Reliance Industries are trading 5% up at 12.15 pm as the company’s board decided to implement a ‘Scheme of Arrangement’ to transfer its ‘Gasification’ undertaking into a wholly-owned subsidiary.
Price as on 25 Nov, 2021 12:16 PM, Click on company names for their live prices.
Based on the rating assessment undertaken by ICRA Limited, the outlook of Home First Finance Company’s long term credit ratings has been revised from [ICRA] A+ ‘Stable’ to [ICRA]A+ ‘Positive’ while reaffirming the existing ratings.
Nifty Bank trading in red, down 0.18%
Price as on 25 Nov, 2021 12:09 PM, Click on company names for their live prices.
Top Sensex contributors
India VIX, barometer of volatility, falls down 4% to 16.47
Mukta Arts open 9 new screens
Mukta A2 Cinemas Limited a subsidiary of Mukta Arts Limited launched its new properties at Ahmedabad, Punjab and Orissa. Mukta A2 Cinemas opened today its 4 screen property at Rajyash Rise in Ahmedabad. Also, after resumption of cinema operations post lockdown period it has opened 2 screens Multiplex at Ropar, Punjab on 19th August 2021 and 3 Screen multiplex at Raygada, Orissa on 28th October 2021. With addition of these above mentioned 9 screens, the screen count of Mukta A2 Cinemas goes upto 55 screens apart from 6 in Bahrain and 14 screens under its JV with Asian Cinemas. So total screen count goes to 75 screens inall.
Tata Consultancy Services has been selected as a strategic partner by South32 to enhance its IT operating model and provide application and infrastructure services critical to its global operations, strengthening its operational resilience and business agility.
Price as on 25 Nov, 2021 11:03 AM, Click on company names for their live prices.
Canara Bank credit ratings
TTK Prestige to buy 51% stake in Ultrafresh Modular Solutions
Price as on 25 Nov, 2021 10:49 AM, Click on company names for their live prices.
Shares of Dixon Technologies jumped 4 per cent but pared it after a while as Taiwanese IT hardware firm Acer said it has roped in the domestic electronic manufacturing services firm for constructing laptops in India.
Price as on 25 Nov, 2021 10:23 AM, Click on company names for their live prices.
Moody’s says strong demand rebound drives positive outlook for Indian corporate sector
- India’s steady progress on inoculation against the coronavirus will support a sustained recovery in economic activity
- India’s consumer demand, spending and manufacturing activity are recovering following the easing of pandemic restrictions
- Credit fundamentals favorable for India’s companies on a sustained economic recovery
- Growing government spending on infrastructure will support demand for steel and cement in India
- India’s currently low interest rates will reduce funding costs and support new capital investment as demand grows
- Moody’s says rising inflation may result in a faster-than-expected increase in interest rates, which would weigh on business investment
- India’s rated companies’ Ebitda will rise on strong consumer demand and high commodity prices (Source: Reuters)
Paytm shares continue to rally for the third day
Price as on 25 Nov, 2021 09:57 AM, Click on company names for their live prices.
The government’s reported proposal to hike GST on gold jewellery to five per cent from three per cent will be a setback to the rebounding jewellery industry in India. We expect gold prices to remain weak till it crosses the level of Rs 47,700 in MCX. Buy zone is above Rs 47,700 for the target of Rs 48,000. Sell zone is below Rs 47,300 for the target of Rs 47,000.
– Ravi Singh, Vice President & Head of Research, ShareIndia
Most active stocks on NSE
Price as on 25 Nov, 2021 09:27 AM, Click on company names for their live prices.
OPENING BELL: Sensex sheds 50 points, Nifty below 17,400; ICICI Bank, Nestle drop 1% each
SGX Nifty signals a flat start
Nifty futures on the Singapore Exchange traded 3.5 points, or 0.02 per cent, higher at 17,444.50, signaling that Dalal Street was headed for a flat start on Thursday.
Tech View: Nifty50 consolidation on the cards
Nifty50 on Wednesday negated its lower high-low formation after five sessions but formed a bearish candle on the daily chart. Analysts believe the headline index could see some consolidation in the coming days. They see the 17,200-level to act as immediate support and the range of 17,600-700 as a key barrier in the coming days.
Dollar reigns as hawkish Fed stands out among central banks
The U.S. dollar traded at its highest in over a year to the euro and near a five-year high against the yen as a hawkish tilt by Federal Reserve policymakers, buoyed by strong US data, contrasted to more dovish monetary outlooks in Europe and Japan. The dollar index, which measures the greenback against six major peers, eased slightly to 96.759, but still hovered close to Wednesday’s high of 96.938.
Hong Kong stocks down at open
Hong Kong stocks fell at the open of trade Thursday morning as minutes from the Federal Reserve’s most recent policy meeting suggested it would taper its vast bond-buying financial support quicker than expected. The Hang Seng Index dipped 0.16 percent, or 38.85 points, to 24,646.65. The Shanghai Composite Index was marginally down, easing 1.38 points to 3,591.32.
Japan shares open higher on strong US data
Tokyo’s key Nikkei index opened higher Thursday after solid US indicators boosted Wall Street shares, with a rising dollar also encouraging investors. The Nikkei 225 index added 0.62 percent, or 180.35 points, to 29,483.01 in early trade, while the broader Topix index firmed 0.43 percent, or 8.59 points, to 2,027.71.
US stocks settled mostly higher
Wall Street stocks finished mostly higher Wednesday following a heavy load of mostly solid economic data while some leading retail firms plunged on disappointing results. The broad-based S&P 500 gained 0.2 percent to 4,701.46, just a few points shy of an all-time record. The tech-rich Nasdaq Composite Index gained 0.4 percent to 15,845.22, while the Dow Jones Industrial Average lost less than 0.1 percent at 35,804.38.
FPIs sell shares worth Rs 5,123 crore
Net-net, foreign portfolio investors (FPIs) turned sellers of domestic stocks to the tune of Rs 5,122.65 crore, data available with NSE suggested. DIIs were net buyers to the tune of Rs 3,809.62 crore, data suggests.
Rupee settles 2 paise up at 74.40 against dollar
The Indian rupee recovered its initial losses and settled 2 paise up at 74.40 against the greenback on Wednesday as exporters’ dollar sales helped offset elevated crude oil prices. Investors also awaited the minutes of the latest Federal Reserve meeting, forex traders said. At the interbank forex market, the local unit opened on a weak note at 74.53 against the US dollar and witnessed an intra-day high of 74.31 and a low of 74.54.
Sensex, Nifty on Wednesday
Equity benchmarks resumed their decline on Wednesday after a day’s gap, succumbing to a last-hour sell-off triggered by losses mainly in market heavyweights Reliance, Infosys and HDFC. After trading in the green for most part of the session, the 30-share BSE Sensex settled 323.34 points or 0.55 per cent lower at 58,340.99 — marking its fifth decline in the last six days. Likewise, the NSE Nifty fell 88.30 points or 0.5 per cent to end at 17,415.05.