Share Market News Today | Sensex, Nifty, Share Prices Highlights : The benchmark equity indices closed Monday’s trading session in negative territory. The NSE Nifty 50 dropped 37.55 points or 0.19% to settle at 19,694.25, while the BSE Sensex dropped 139.58 points or 0.21% to 65,655.15. The broader indices ended largely in negative territory, with falls led by Auto and Media stocks. Bank Nifty index closed flat, slight negative positive up by just 1 points to settle at 43,584.95. Smallcap and Midcap stocks gained among the other sectoral indices while Auto, Media and Metal stocks shed. Divis Labs, Bharti Airtel, HCL Technologies, Wipro, and Coal India were the top gainers on the NSE Nifty 50, while the laggers, Adani Enterprises, Bajaj Finance, SBI Life Insurance, Mahindra & Mahindra, Ultra Tech Cement. The Indian Volatility Index (India VIX) closed up by 2.70%.
The NSE Nifty 50 dropped 0.19% to settle at 19,694.25, while the BSE Sensex dropped 0.21% to 65,655.15.
Balakrishna Industries, TVS Motors, Mahindra & Mahindra, Sona Blw Precision, and Ashok Leyland are the top laggers on Nifty Auto index.
“Nifty weekly contract has highest open interest at 19900 for Calls and 19700 for Puts while monthly contracts have highest open interest at 20000 for Calls and 19000 for Puts. Highest new OI addition was seen at 19800 for Calls and 19100 for Puts in weekly and at 19800 for Calls and 19400 for Puts in monthly contracts. FIIs decreased their future index long position holdings by -9.72%, increased future index shorts by 2.33% and in index options by 48.69% in Call longs, 39.74% in Call short, 83.59% in Put longs and 75.55% in Put shorts,” said Anand James, Chief Market Strategist at Geojit Financial Services.
Rajesh Exports, Committed Agro, SKS Texttiles, Adani Wilmar, and IRM Energy are the top losers on NSE.
The shares of Tata Investment Corporation gains more than 15 percent to hit a fresh 52-week high. In the previous session, the stock had surged up to 20 percent. The sharp rally comes ahead of the Tata Technologies IPO, which will open for public subscription on November 22.
Mahindra & Mahindra, SBI Life Insurance, Bajaj Finance, Adani Enterprises, and Ultra Tech Cement are the top losers on NSE Nifty 50.
“The ongoing rally in the mother market US triggered by declining bond yields makes the market construct slightly favourable for the continuation of the rally in India, too. Like in cricket, there will be occasional set backs, but it is the long-term trend that matters in the market. Clearly, this is a buy on dips market. Retail investor exuberance is pushing up the broader market. Investors should not be blinded by the recency bias and chase small caps running away without fundamental support. In spite of recent underperformance, safety is now in large caps. Since FIIs turned buyers in the cash market on two days recently, they are unlikely to sell big and may again buy on favourable developments. There is momentum in large-cap IT stocks. The expectation that US will not tip into a sharp recession has improved the prospects for IT. Autos, telecom, capital goods and construction-related segments are likely to remain resilient. Banking stocks bouncing back is only a matter of time,” said Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
Oberoi Realty, REC, Trent, Power Finance corporation, HCL Technologies, and Persistent Systems are the stocks trading at their 52-week high.
Mahindra & Mahindra, Bajaj Finance, Adani Enterprises, SBI Life Insurance, and Bajaj Finserv are the top losers on Nifty 50.
Divis Labs, Hindalco Industries, HCL Technologies, Wipro and LTI Mindtree are the top gainers on NSE Nifty 50.
“We continue to be in the frustrating range of 83.3-83. If 83.3 continue to resist, expect slippage to 83.19. Push above 83.3 could call for 83.4 initially, and then 83.65,” said Anand James, Chief Market Strategist at Geojit Financial Services.
Balkrishna Industries, RBL Bank, GMR Airports, Apollo tyres, and Ashok Leyland are the top losers on F&O basket.
Oberoi Realty, Divis Labs, Birla Soft, L&T Technology, ad Balrampur Chini are the top gainers on F&O basket.
“Nifty weekly contract has highest open interest at 19900 for Calls and 19700 for Puts while monthly contracts have highest open interest at 20000 for Calls and 19000 for Puts. Highest new OI addition was seen at 19800 for Calls and 19100 for Puts in weekly and at 19800 for Calls and 19400 for Puts in monthly contracts. FIIs decreased their future index long position holdings by -9.72%, increased future index shorts by 2.33% and in index options by 48.69% in Call longs, 39.74% in Call short, 83.59% in Put longs and 75.55% in Put shorts,” said Anand James, Chief Market Strategist at Geojit Financial Services.
“With October peak in the vicinity, expect sideways moves. Dips are likely to be limited to 19600-570, keeping intact the prospects of an extended push towards record peak. Meanwhile, push above 19765/40 could spark a few upswings, but they are likely to be challenged on approach to 19800,” said Anand James, Chief Market Strategist at Geojit Financial Services.
Axis Bank, Asian Paints, L&T, SBI Life Insurancer, and BPCL are the top losers on NSE Nifty 50.
Apollo Hospitals, Hindalco Industries, HCL Technologies, Divis Labs, and NTPC are the top gainers on NSE Nifty 50.
The NSE Nifty 50 down 0.65 points to settle at 19,731.15, while the BSE Sensex down 0.01% to 65,787.51.
“In Friday’s trading, the Nifty witnessed consolidation as investors opted to secure profits, yet the Nifty Mid-Cap and Small-Cap indices achieved new highs. Technical analysis indicates potential support at Nifty 19657 and hurdles at 19889. Reclaiming 19889 is crucial for a fresh upside. Bank Nifty needs to surpass 44800 for confirmation, but it might underperform. Options data suggests Nifty’s range is 19300-19800, with 19800 as a crucial resistance. Positive catalysts include sluggish WTI crude, rising copper prices, and favorable sentiments on no further Fed rate hikes. Preferred trades include buying Nifty at CMP with targets at 19807/19889 and Bank Nifty in the 43000-43150 zone with targets at 44000/44500,” said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd
Foreign institutional investors (FII) sold shares worth net Rs 477.76 crore, while domestic institutional investors (DII) offloaded shares worth net Rs 565.48 crore on November 17, 2023, according to the provisional data available on the NSE.
The NSE has added Chambal Fertilisers and Chemicals, Delta Corp, Hindustan Copper, India Cements, Manappuram Finance, MCX, RBL Bank, and ZEEL to its F&O ban list for November 20, 2023.
“Following the RBI’s announcement of tightening provisions for consumer loans, the Bank Nifty opened with a gap down and sustained below the 44,000 mark. The index’s next support is situated at the 43,300-43,250 zone, serving as a crucial line of defense for the bulls. If this level holds, it could pave the way for a potential recovery towards the 44,000 mark. However, a breach of the mentioned support may intensify selling pressure, leading the index further down towards the 42,700 level on the downside.” said Kunal Shah, Senior Technical & Derivative analyst at LKP Securities
WTI crude prices are trading at $76.12 up 0.08%, while Brent crude prices are trading at $80.60 down 0.01%, on Monday morning.
Shares in the Asia-Pacific region are trading in the green on Monday morning. The Asia Dow is trading down 0.09%, Japan’s Nikkei 225 is greem, up 0.26%, Hong Kong’s Hang Seng index is trading down 2.12% and the benchmark Chinese index Shanghai Composite is flat.
The S&P 500 and the Nasdaq managed to eke out tiny gains on Friday while the Dow Industrial Average (.DJI) ended slightly lower with pressure from tech and retail bellwethers Cisco and Walmart after disappointing forecasts, reported Reuters. The tech-heavy Nasdaq Composite dropped 5.75 points or 0.04% at 14,107.92. The S&P 500 added 1.87 points or 0.04% at 4,510.11, while the Dow Jones Industrial Average ended flat up by just 1.81 points or 0.05% to 34,947.28
