Sensex, Nifty LIVE Updates on November 19: After opening lower, market indices traded flat with negative bias on Thursday, amid weak global equities. Earlier at the opening bell, Sensex traded 188 points lower at 43,992 and Nifty fell 76 points to 12,861. During the session, Sensex and Nifty touched their lifetime highs of 44,222 and 12,959, respectively. Yesterday, Sensex ended 227.34 points higher at its record closing of 44,180 and Nifty rose 64.05 points to end at its all-time high of 12,938.25.
Here's a look at the updates of the market action on BSE and NSE today
11. 54 AM: Market technical outlook
Sameet Chavan (Chief Analyst-Technical and Derivatives, Angel Broking) said,"Nifty started the day on a flat note and witnessed a minor dip in the first couple of hours. The index managed to find support tad above the 12800 and then it witnessed upmove at the end to post gains of half a percent at close.
The benchmark consolidated within a range for most part of the session, but the broader markets kept the momentum going and thus we saw a frenzy move in a bunch of high beta names. The midcap index inched higher at its two years high and the Nifty is just a kissing distance away from the record 13000 mark. Bank Nifty continued with its rally and once again outperformed the benchmark yesterday. As there are no signs of reversal, we continue with our advice for traders to trade with a positive bias and look for stock specific opportunities from a short term perspective. Once the index surpass this psychological mark of 13000 which now just seem to be a formality, 13100-13200 would be the zone to watch for the index immediately. On the flipside, 12800-12770 is the immediate support and until we see any violation of short term supports, traders should avoid taking any contra trades."
11. 40 AM: YES Bank share falls after 10 day of straight gains
YES Bank shares were tad lower on Thursday, after ten straight sessions of consecutive gains, amid weakness in broader benchmark indices Sensex and Nifty. The stock has delivered 19.78% returns to its investors in the last 10 days and gained in the range of Rs 2 since then.
Reversing trend after 10 days of consecutive gains, YES Bank share price today opened at Rs 14.57 today and later rose to the day's high of Rs 14.69 on BSE. However, the stock also hit day's low of Rs 14.45, falling 1.5% as against the earlier close of Rs 14.68.
11. 34 AM: Gold outlook today
On Thursday, Gold price eased on the back of optimism around Pfizer's vaccine against covid-19 and expectation of more economic support.
Commenting on gold's outlook, Anuj Gupta- DVP- Commodities and Currencies Research, Angel Broking said," On Wednesday, Spot Gold prices ended lower by 0.38 percent to close at $1871.4 per ounce and Spot silver ended lower by 0.63 percent to close at $24.3 per ounce as the optimism over a potential vaccine continued to hamper the appeal for Gold, the safe haven asset. U.S. drug maker Pfizer Inc stated that they were ready to apply to the U.S. and European authorization for their vaccine next month after successful results in the final trial. The losses for the yellow metal were limited as a lower Dollar amid increasing coronavirus cases kept a lid on markets risk appetite. Worldwide reported coronavirus cases have surpassed 55 million with a death toll of more than 1.33 million. Moreover, global Central banks are expected to continue with their accommodative stance in the coming months to help the economy revive to the pre pandemic levels which is supportive for Gold.
Hopes over a potential vaccine against the covid19 virus coupled with a stronger U.S. Dollar might weigh on the yellow metal prices. As for today traders can go for sell in gold at Rs 50300 levels with the stop loss of Rs 50600 levels for the target of 49800 levels. They can also go for sell in Silver at Rs 62,300 levels, with the stop loss of 63000 levels and for the target of 61000 levels."
11. 19 AM: Pfizer share rises nearly 7%
Pfizer Ltd share rose in early trade today after the pharma firm said COVID-19 vaccine was found 95 per cent effective in the final analysis of the Phase 3 trial, including in people aged over 65 years. The stock has gained after 2 days of consecutive fall.
Pfizer share rises nearly 7% after firm says COVID-19 vaccine 95% effective
11. 02 AM: Stocks to watch today on November 19
Pfizer, ACC, Wipro, Vedanta, IndiGo, SpiceJet, TCS among others are the top stocks to watch out for in Thursday's trading session
Stocks in news: Pfizer, ACC, Wipro, Vedanta, IndiGo, SpiceJet, TCS
10. 45 AM: Top gainers
Bajaj twins, Tata Steel, Titan, ONGC, M&M, NTPC were among the top gainers on Sensex pack while Infosys, HCL Tech, SBI, Airtel, HUL were among the top losers today.
10. 37 AM: Nifty technical outlook
Ajit Mishra, VP - Research, Religare Broking said,"Markets have been maintaining the momentum despite overbought conditions and it's largely due to noticeable buying by foreign investors. We reiterate our positive yet cautious approach to the index and suggest focusing on broader markets for trading opportunities. Needless to say, traders should avoid contrarian trades and maintain a "buy on dips" approach."'
10. 22 AM: Market erases losses
After opening lower, market indices traded flat with negative bias on Thursday, amid weak global equities. Earlier at the opening bell, Sensex traded 188 points lower at 43,992 and Nifty fell 76 points to 12,861.During the session, Sensex and Nifty touched their lifetime highs of 44,222 and 12,959, respectively.
10. 15AM: Market outlook
Vinod Nair, Head of Research at Geojit Financial Services said"The market trend is shifting from defensive to growth stocks. FMCG, Pharma and IT sectors, which are the best performers of the year, are being shed for sectors like Auto and Banks. It is anticipated that such stocks will re-rate due to rise of the economy and shift of investors money. We feel that a lot is factored in the prices, it is advised to turn a bit cautious, in the short-term. This trend can reverse when the market realizes that the economy and money can take a breather from pent-up demand and premium valuation, due to rise in Covid 19 & international restrictions"
10.00 AM: Opening session outlook
On markets opening --Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments said,"The Nifty has opened with a gap down but until we do not break 12500, the trend continues to remain on the upside. We still have an open target of 13100 which the index is capable of achieving this month. A buy on dips approach is recommended."
9. 50 AM: Global markets today
Asian markets are trading lower taking cues from overnight weakness in US markets as coronavirus cases climbed overshadowed optimism around vaccine.
US markets closed lower as new lockdown measures were announced in cities including New York including public schools to be closed as corona cases climbed. European markets closed higher as investors weighed in the positivity surrounding vaccine development. Auto stock led the gainers pack.
9. 40 AM: Market outlook
Geojit Financial Services, said: "Nifty continued to push higher despite earlier hiccups yesterday, but the moves were more volatile than directional. Towards this end, we continue to see 12980/13050 as the upper range for now, and 12830/730 as the downside marker, as maintained yesterday."
9. 37 AM: Nifty technical outlook
Expressing morning view on the market, V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services said:"A distinct trend in the market now is Buy on Dips. Sustained selling by FIIs & high valuations are negatives but strong FII inflows, steady decline in Covid infections, strong rebound in economic activity, expectations of synchronised global economic recovery in 2021and continuation of accommodative monetary policy are very strong positives. This is likely to keep the market resilient even during bouts of profit bookings and consequent corrections. Value buying in mid-small-caps can emerge as a trend, going forward."
9. 20 AM: Opening session
Market indices opened on a bearish note on Thursday, amid weak global equities. SGX Nifty on the Singapore Exchange was falling by 110 points, indicating negative trend in domestic grounds today. Sensex opened 188 points lower closing of 43,992 and Nifty fell 76 points to end at its all-time high of 12,861.
9. 10 AM: COVID-19 vaccine news
Pfizer and BioNTech on Wednesday said that a final data analysis found their coronavirus vaccine was 95% effective in preventing Covid-19 and appeared to fend off severe disease. Meanwhile Moderna said preliminary phase three trial data showed its vaccine was more than 94% effective.
9. 05 AM: Market outlook
Reliance Smartmoney Research said in its note," NSE-NIFTY continued its daily rising trend and closed on new life-time-high for straight third trading session in a row. Its key technical indicators are in buy mode and overall market breadth remained in favour of bulls. FII remained net buyer consistently throughout this month. As mentioned earlier, our bullish view will remain intact, we believe that NIFTY could test 13,200 level. On the lower side, initially the index will find supports at 12,800 mark and then at 12,600 level.
As for the day, support is placed at around 12,803 and then at 12,732 levels, while resistance is observed at 12,940 and then at 13,005 levels."
8. 50 AM: Global market update
Asian stocks are trading lower on Thursday as concerns about rising coronavirus infections.
In US, stocks closed steeply lower after a late-session sell-off on Wednesday as investors weighed surging COVID-19 infections and mounting shutdowns against encouraging vaccine developments.
8. 40 AM: FII action
Foreign portfolio investors (FPIs) bought shares worth Rs 3,071.93 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 2,789.85 crore in the Indian equity market on 18 November, provisional data showed.
8.30 AM: Closing
Sensex closed above 44,000 mark for the first time today on rise in banking, auto and capital goods stocks amid positive cues from Asian markets and persistent foreign fund inflows. Sensex ended 227.34 points higher at its record closing of 44,180 and Nifty rose 64.05 points to end at its all-time high of 12,938.25.
Sensex closes above 44,000 for first time; banking, auto stocks lead rally