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Stock Market Highlights: Sensex ends 454 points higher, Nifty50 reclaims 17,500; Latent View surges 20%

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Stock Market Highlights: Indian equity benchmarks Sensex and Nifty50 recovered initial losses to end stronger on Thursday. Gains in oil & gas, IT and pharmaceuticals shares pushed the headline indices higher, though losses in financial and automobile stocks limited the upside. Broader markets also strengthened with the midcap and smallcap gauges finishing 0.6 percent and 0.8 percent higher respectively. Volatility persisted ahead of the expiry of monthly derivatives contracts due by the end of the session. Latent View Analytics shares continued to surge after a bumper listing this week.

Stock Market Highlights: Sensex ends 454 points higher, Nifty50 reclaims 17,500; Latent View surges 20%
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  • Expect rupee to trade within 74.30-74.75 range in near termKotak Securities' Anindya Banerjee

    Anindya BanerjeeDVP-Currency and Interest Rate Derivatives at Kotak Securities, said there has been low volatility in the USD-INR pair due to the Thanksgiving holiday in the US. He expects the pair to trade within a range of 74.30-74.75 in the near term.

    The rupee ended at 74.51 against the greenback on Thursday. 

  • A crypto ban to be an extreme step, it might shut activity which could be important in future: NASSCOM's R Chandrashekhar 

    R Chandrashekhar of NASSCOM told CNBC-TV18 that it has been cleaer that the government and the RBI will not allow cryptos to become legal tenrer. A lot of discussions have favoured allowing cryptos as an asset, he said. 

    Chandrashekhar believes a ban on cryptos would be an extreme step, as it might shut activity that could be important in the future. 

  • Once Nifty50 takes out 17,600, it will be set to march towards 17,800 in short term: Gaurav Ratnaparkhi

    Gaurav Ratnaparkhi, Head of Technical Research at Sharekhan by BNP Paribas, said the Nifty has entered pullback mode from the lower end of a falling channel. "The pullback is subdividing into lower degree waves. An intermediate dip on November 24 found support near the hourly lower Bollinger Band. Thereon, the index has started the next leg of the pullback. It is heading towards the junction of a swing high, a 40-hour exponential moving average and the hourly upper Bollinger Band, which is near 17,600. That is a key barrier to watch out for," he said.

    "Once that gets taken out, the Nifty will be set to march towards 17,800 in the short term. In terms of Fibonacci retracement, the pullback has so far retraced 38.2 percent of the previous decline from 18,210 to 17,216, and can head towards the 61.8 percent retracement, which is near 17,800. On the flip side, 17,350-17,300 levels will act as near-term support," he said.

  • Vodafone Idea a risky play: Ambareesh Baliga 

    Market expert Ambareesh Baliga said Vodafone Idea is a risky play "because we know the history very well".

    "However, from a trading point of view, one can look at buying it. You could see an upside of about Rs 2 or Rs 3 from current levels because the ARPUs will start to move up with the tariff hikes,” he said.

  • Buy Sundaram Fasteners, target Rs 950: Ambareesh Baliga 

    Market expert Ambareesh Baliga recommends buying Sundaram Fasteners shares for a target price of Rs 950.

    "It is a part of the TVS Group, and manufactures critical and high precision components for automotives, windmills and the aviation sectors. If you look at the mix, 52 percent is domestic OEMs, 13 percent is aftermarket and about 35 percent is exports. Last quarter numbers too were decent, about 40 percent YoY growth, and this was despite the ongoing chip shortage," he said. 

    Baliga expects the company's turnover to return to pre-COVID levels in FY22. "I am also expecting the share of exports to increase from 35 percent to 50 percent in the medium term," he said. 

  • November F&O Series | First negative return for market in four months; Nifty50 down 1.8%

    Here are some highlights: 

    --Midcaps gain for 3rd straight series with Nifty Midcap rising 1%

    --Bharti Airtel, Adani Ports, Power Grid, Grasim, ONGC top Nifty gainers

    --IndusInd, Axis, Tata Steel, Bajaj Auto, Divi’s, ICICI, Shree Cement top Nifty losers

    --Apollo Hospitals, Adani Enterprises, Vedanta, Vodafone Idea top non-Nifty F&O gainers

    --Firstsource, Atul, Manappuram, SBI Card, REC top non-Nifty F&O losers

  • Market At Close | ITC rises 1.5% on price hike, company’s clinical trial for COVID nasal spray

    Here are some highlights:

    --Reliance Industries gasification business announcement helps stock rise 6%

    --ITC rises on price hike, company’s clinical trial for COVID nasal spray

    --Financial stocks continue to underperform; ICICI Bank, Axis Bank top losers

    --Nifty Bank falls 77 points to 37,365; midcap index rises 183 points to 30,927

    --Oil market companies slip as petrol, diesel prices remain unchanged; IOC down 1%

    --IndusInd continues to decline with stock slipping to 6-month low

    --Indiabulls Housing, Vedanta, Laurus, Vodafone Idea, Apollo Hospitals top midcap gainers

    --Siemens falls 4% after lower-than-expected earnings

    --IndiGo, Metropolis, HPCL, Ipca, IndiaMART top midcap losers

    --Market breadth favours bulls; advance-decline ratio at 2:1

    Disclaimer: Network18, the parent company of CNBCTV18.com, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.

  • Market At Close | Reliance Industries, Divi's Labs, ITC top Nifty50 gainers; Maruti Suzuki, Britannia, IndusInd Bank top laggards

    Disclaimer: Network18, the parent company of CNBCTV18.com, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.

    Stock Market Highlights: Sensex ends 454 points higher, Nifty50 reclaims 17,500; Latent View surges 20%
  • Expect pressure in auto stocks in longer term: Centrum Broking's Nischal Maheshwari 

    Nischal Maheshwari of Centrum Broking believes auto stocks mae see some correction in the near  because of the chip-related issues, and witness pressure in the longer term. "Auto is in a stage where it starts to show value. Maruti Suzuki may not be so but the other two-wheeler stocks definitely at these prices... Both Bajaj Auto and Hero Motocorp are in a value zone now. Maruti has no clarification as far as electric vehicles (EVs) are concerned; neither it is into the space where four-wheelers are growing, which is the SUV segment. So Maruti has its own problems. I think on the two-wheeler side, EVs might come in much faster than what the market was expecting," he said.

    None of the large players, Bajaj, Hero Motocorp or anybody, have got a very elaborate EV programme or visibility out there," he added. 

  • Positive on Reliance Industries: Centrum Broking's Nischal Maheshwari 

    Nischal Maheshwari of Centrum Broking is positive on Reliance Industries for multiple reasons. "It has underperformed in the last couple of months and that is why you see aggressive buying in Reliance Industries, so some catch up is there. The gas part also paves the way to go into the future. The third important part is that two competitors, Vodafone India and Bharti Airtel, in telecom have already taken an 18-25 percent increase in tariffs. I believe Reliance may also follow in due course of time. There are upticks in all its businesses and its retail continues to do well," he said. 

    Disclaimer: Network18, the parent company of CNBCTV18.com, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.

  • November F&O Series | Nifty50 ends November F&O series 1.8% lower 

    The Nifty50 index ended the November futures & options (series) 321 points or 1.8 percent lower.
     
     
    The Sensex lost 1,189.6 points -- or two percent -- during this period. 
  • Market At Close | Reliance Industries gives Nifty50 112-point lift 

  • Closing Bell | Sensex rises 454 points to 58,795, Nifty50 reclaims 17,500

    The 30-scrip index ended 454.1 points or 0.8 percent higher at 58,795.1 and the broader Nifty50 benchmark settled at 17,536.3, up 121.2 points or 0.7 percent from its previous close. Gains in oil & gas, IT and pharmaceuticals shares pushed the headline indices higher, though losses in financial and automobile stocks limited the upside. 

  • If Nifty50 sustains 17,500, momentum can continue to 17,600-17,700 levels: CapitalVia Global Research's Vijay Dhanotiya

    Vijay Dhanotiya, Lead of Technical Research at CapitalVia Global Research, believes 17,500 is an important level for the Nifty to stay positive in the short term. "If the market is able to sustain 17,500, it can witness a positive momentum that can lead to the higher levels near 17,600-17,700," he said. Momentum indicators RSI and MACD are looking positive, he said. 

  • CNBC-TV18 Exclusive  | Finance Secretary TV Somanathan there will be substantial additional expenditure

  • Latent View Analytics shares locked in 20% upper citcuit

    Latent View shares were locked in the upper circuit at Rs  702.4 apiece on BSE in late afternoon deals. At the current price, it is at 3.6 times the issue price after a blockbuster listing this week. 

  • ITC says clinical trials underway for COVID-19 prevention nasal spray 

  • Buy Zee Entertainment, Piramal Enterprises: Globe Capital's Himanshu Gupta 

    Here are three trading calls from Himanshu Gupta of Globe Capital:

    --Sell Tata Steel for a target price of Rs 1,140 with a stop loss at Rs 1,187 

    --Buy Zee Entertainment for a target of Rs 362 with a stop loss at Rs 338 

    --Buy Piramal Enterprises for a target of Rs 2,720 with a stop loss at Rs 2,630 

  • Cryptocurrency Nov 25 update: Bitcoin stages recovery, surges 5%

    Bitcoin, the world's largest cryptocurrency, extended the recovery it had staged after crashing over 25 percent on Wednesday morning. It is currently trading over 5 percent higher at Rs 42.96 lakh on the Indian exchange, WazirX.

  • WF Asian Reconnaissance Fund seller in Tata Comm’s block deal today: Sources

    According to sources, WF Asian Reconnaissance Fund is the seller in Tata Comm’s block deal today. 21 lakh shares (0.7% equity) worth 264.2 crore of Tata Comm have been exchanged. Wf Asian Reconnaissance Fund’s total holding in Tata Comm at 1.39 percent. 

  • India's oil import bill set to cross FY21's level this month: Report

    India's crude oil import bill is set to surpass the last fiscal year's $62.2 billion by the end of November itself. Going by the trend, the oil import bill will reach its three-year-high by end of FY 2021-22, according to a Business Standard report.

    This comes in the wake of raw fuel crossing the price of $70 per barrel in October. The report added that the crude oil India bought in October averaged at $82.11 per barrel, the highest price for the month in five years.

  • Market Watch: Prasun Gajri, Chief Investment Officer at HDFC Life

    On Markets

    While we remain invested, we are a little bit cautious. It is not that we are holding cash. From a sectoral allocation perspective, at the margin, we are getting a little bit cautious and that is resulting in a larger focus on getting into the large-caps and getting out of small-caps and mid-caps, looking to cut the risk in some other sectors.

    Neither very bullish nor bearish but somewhat cautious and therefore aligning the portfolio that way without getting out of the market, we are not trying to hold cash at this point in time.

    On Banks

    If one were to look at the cyclical part of the market, I believe the domestic financials are looking quite attractive especially the larger banks. The valuations are reasonable in the historical context as well as in comparison to the market, the asset quality situation is improving and the worst is behind. I sense over a period of time over the next twelve months, we will start seeing encouraging signs on the growth front as well as far as credit growth is concerned. To us, the financials look quite interesting.

    On Pharmaceuticals

    One has to also look at some of the sectors which could be defensive where the valuations are also looking reasonable. We believe the pharmaceutical sector has not performed so well, the valuations are reasonable. There could be some short-term headwinds but clearly, that is one sector we believe could be worthwhile looking at from a 12-24 months perspective.

    We continue to remain bullish on IT, some of the capital goods and the cement sector, telecom

  • Royal Enfield begins operations in Thailand

    Eicher Motors said its Royal Enfield motorcycle unit began operations of its exclusive local assembly unit and CKD (Completely Knocked Down) facility in Thailand.
     

  • Bharti Airtel conducts India’s first 5G trial in the 700 MHz band with Nokia

    Bharti Airtel and Nokia announced today that they successfully completed India's first 5G trial in the 700 MHz band. It was the first 5G trial in Eastern India, and took place on the outskirts of Kolkata.

  • Bank Nifty on track to end November F&O series down 5%; first fall in 4 months

    The Nifty Bank is on track to finish the November futures & options (series) more than five percent lower, as most of its components suffered losses during the period. The movement is in tandem with headline indices Sensex and Nifty50, which are set to close the November F&O series more than two percent lower each.

    The banking index will close a monthly derivative series in negative territory for the first time after three months of gains. It had finished the October series with a gain of 5.6 percent, and the past two months 5.1 percent and 2.7 percent higher respectively.

  • Buy HDFC, HCL Tech, Divi's Lab: Jay Thakkar, Marwadi Shares & Finance

    - Buy HDFC Bank with a stop loss of Rs 1,495 and a target of Rs 1,570.

    - Buy HCL Technologies with a stop loss of Rs 1,100 and a target of Rs 1,190.

    - Buy Divi’s Laboratories with a stop loss of Rs 4,690 and a target of Rs 4,800-4,850.

  • BSE Healthcare index added 1 percent

    Glaxosmithkline Pharmaceuticals gained almost 12 percent, while Krishna Institute of Medical Sciences added 10 percent, and Torrent Pharmaceuticals was up 6 percent.

  • Shriram Transport allots 17.36 lakh equity shares to promoter Shriram Capital at 1,430/share on the conversion of warrants.

  • Food, fertiliser subsidies may top additional govt spending in coming supplementary demands

    Food and fertiliser subsidies are likely to top government’s additional spending plan in the upcoming supplementary demands for grants. The same will be tabled by the Finance Minister in the Winter Session of Parliament starting November 29.

Stock Market Highlights
: Indian equity benchmarks Sensex and Nifty50 recovered initial losses to end stronger on Thursday. Gains in oil & gas, IT and pharmaceuticals shares pushed the headline indices higher, though losses in financial and automobile stocks limited the upside. Broader markets also strengthened with the midcap and smallcap gauges finishing 0.6 percent and 0.8 percent higher respectively. Volatility persisted ahead of the expiry of monthly derivatives contracts due by the end of the session. Latent View Analytics shares continued to surge after a bumper listing this week.
Note To Readers

Disclaimer: Network18, the parent company of CNBCTV18.com, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.