Nifty sectoral indices ended mixed with Nifty IT index gaining 2.8 per cent, while Nifty Financial Services index settled 1.07 per cent down. Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic equity market benchmarks BSE Sensex and Nifty 50 ended nearly half a per cent higher in Monday’s volatile session, mainly led by buying in IT stocks and Reliance Industries Ltd. BSE Sensex ended 195 points or 0.44 per cent up at 44,077, while the broader Nifty 50 index gained 67.40 points or 0.52 per cent at 12,926. ONGC shares were the top Sensex gainer, followed by IndusInd Bank, Infosys, Tech Mahindra, RIL, Tata Consultancy Services and HCL Tech. On the flip side, Housing Development Finance Corporation (HDFC), ICICI Bank, Axis Bank, Titan Company, SBI and Bharti Airtel ended in the negative territory. Nifty sectoral indices ended mixed with Nifty IT index gaining 2.8 per cent, while Nifty Financial Services index settled 1.07 per cent down.
Highlights
Maruti Suzuki shares look set to witness the next leg of up move in the coming months, as suggested by the trends on technical charts. According to the reports, the passenger vehicle festive demand for Maruti Suzuki has been healthy. Research and brokerage firm ICICI Direct said that slower pace of retracement helped Maruti Suzuki stock to form a higher base above 10 weeks EMA.
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The daily chart of KOLTEPATIL which depicts that the stock has confirmed a breakout from multiple resistance zone of 195. The pattern has a theoretical target of around 220. In addition, on the daily chart, we are witnessing that the RSI has confirmed a range shift which indicates a faster rise in price. Thus traders can buy the stock with given trade setup: Anand Rathi Financial Services
A lot has happened in the past 12 months. In September last year, there was great hope for 2020 – indications of good, demand-led growth, especially in the rural economy. The Government announced tax incentives (15% corporate tax) for new investments in India made in the next 3 years and privatization of key PSUs.
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We opine that an NBFC’s decision to convert into a bank hinges on the trade‐off between sustainability (lower mortality risk) and higher regulatory (CRR/SLR) and compliance (tighter supervision) and operating costs (arguably transient). Although large well‐run NBFCs are, by definition well‐funded, we believe such conversion represents a desirable long‐term outcome for such entities to ensure sustainable growth: HDFC Securities
Motilal Oswal Asset Management Company (MOAMC) has announced the launch of India’s first-of-its-kind Motilal Oswal 5 Year G-sec ETF. Known for launching an array of passive funds, this ETF by Motilal Oswal AMC is set to provide excellent asset allocation opportunity. For ETF fans, this fund is an addition to Motilal Oswal ETF suite which comprises of a Nifty 50 ETF, Nifty Midcap 100 ETF, NASDAQ 100 ETF and the upcoming 5-year G-Sec ETF – all of them effective for asset allocation. The NFO will be open on November 23, 2020, and shall close on December 2, 2020.
"Indian indices are volatile on back of global market clues along with the Prime minister meeting with CMs regarding surge in cases of Covid in India. Indian indices fail to sustain opening gain, Indices open positive on the back of positive global market clues. We expect market to trade in range bound and 13000 will be a hurdle for the Nifty. Today S&P BSE Healthcare (up 2.01% ), S&P BSE Information Technology (up 2.45%) while S&P BSE Telecom (down 1.12%), S&P BSE CONSUMER DURABLES (down 0.98%) Global Market update - DOW Jones down by 219 points (up 0.75%) and NASDAQ down by 49 points (up 0.42%). Indian Indices Nifty and Sensex up by 63 points (0.51%) and 201 points (0.46%) respectively," said Yash Gupta Equity Research Associate, Angel Broking.
Motherson Sumi Systems share price surged nearly 5 per cent to Rs 146.30 apiece on BSE after the company shared its Vision 2025, with ambitious revenue and returns targets. The stock has been on a gaining spree and added over 12.5 per cent in six trading sessions. At the analyst meet, Vision 2025 was emphasized with a target of $36bn revenue in 2024-25 with 40 per cent ROCE, and additional focus on diversifying into new industries, with 75 per cent of revenues from the automotive industry and 25 per cent from new divisions
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Banking and financial services stocks have been gaining momentum for the last few weeks now. The Bank Nifty index has zoomed 4700 points in the last four weeks while the Nifty Financial Services index has jumped over 2,200 points in the same time period. Overhangs on the sector’s performance now seem to have reduced and with the preliminary recovery in economic indicators the outlook is now better than where it was a few months back. Brokerage and research firm ICICI Securities after having a conversation with management of leading financial institutions has given a ‘Buy’ call on these four financial stocks.
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Ujjivan Financial Services share price zoomed 20 per cent to hit upper circuit at Rs 298.55 apiece on BSE after the Reserve Bank of India (RBI) released Internal Working Group (IWG) report related to the ownership of private sector banks. For the first time in 2013, RBI in its Guidelines for Licensing of New Banks in the Private Sector had prescribed several structural requirements of promoting a bank under a Non-operative Financial Holding Company (NOFHC).
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Sensex was seen slipping into the red after having opened with gains on monday. Nifty 50 on the other hand was below the 12,900 levels.
"We opened on a positive note but there seems to be some nervousness to get past the 13000 marks. The Nifty is still poised to achieve 13100-13200 but is facing some resistance at Friday's high of 12963. Once we get past that, we could see smooth sailing to 13100-13200. The support for this week is at 12700," said Manish Hathiramani, Proprietary Index Trader and Technical Analyst, Deen Dayal Investments.
"Market, powered by liquidity is climbing all walls of worry. FII inflows in November so far - above $ 6 billion - is an all-time high for a single month. The risk of this liquidity driven rally is that valuations are at lofty levels. That's why money is now moving into mid-small-caps which offer better value. Expect outperformance of the broader market to continue. The new RBI rules on banking/ NBFCs are positive for the financial sector," said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
Smallcap and midcap indices continued to outperform benchmark indices on Monday. BSE Smallcap index was up 0.83% while BSE Midcap was up 0.80%. BSE Sensex was jumped 0.47%.
Sensex surged to hit anopther fresh all-time high of 44,271 points on Monday. The Nifty 50 was just shy of its all-time high.
Monday's opening bell saw Sensex clim above 44,000 points. Nifty 50 was trading above 12,900 levels.
The 50-stock NSE Nifty breached the 12,900 mark in pre-open after a muted start to the session.
Sensex and Nifty surged in the pre-open session on Monday morning. While S&P BSE Sensex moved above the 44,000 points mark, Nifty was just shy of 12,900.
Domestic equity market benchmarks BSE Sensex and Nifty 50 are expected to open with gains on Monday. On the back of developments on COVID-19 vaccine, Indian share markets reached their record high levels last week. Market participants will track rising coronavirus cases, oil prices, newsflow related to COVID-19 vaccine, rupee trajectory and other global cues. According to the analysts, bourses are likely to witness bouts of buying in the lower order stocks hinting a catch-up rally.
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This week, Ajit Mishra, VP - Research, Religare Broking expects volatility to remain high, thanks to the scheduled F&O expiry of November month contracts. "We expect Nifty to consolidate further next week and the range could be 12,600-13,000. While we’re seeing noticeable interest in the rate-sensitive pack, we expect fresh traction in select counters from the defensive pack i.e. FMCG, IT and pharma ahead. We thus advise traders to focus on the selection of stocks while maintaining the “buy on dips” approach," he said.
Mximum Put OI is placed at 12,000 strike with 44.03 lakh contracts, followed by 12,800 strike with 37.16 lakh contracts.
Call writing was seen at 13,200 strike with 6.33 lakh contracts added. 12,800 strike added 6.03 lakh contracts.
For the November series maximum call open interest (OI) is placed at 13,000 strike with 35.99 lakh contracts. This was followed by 13,500 strike with 32.93 lakh contracts.
RIL: CCI approved the acquisition of Future Group’s retail, wholesale, warehousing logistics business by Reliance Retail Ventures Ltd (RRVL).
MIDHANI: The government is planning to sell up to 10 per cent stake in defence PSU Mishra Dhatu Nigam Ltd (MIDHANI) in the current fiscal ending March.
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"The overall market breadth continues to be positive and broad market indices like midcap and small cap segments have closed on a decent gains of around 0.86% and 1.15% respectively. this is positive indication. Nifty on the weekly chart formed a small negative candle with minor lower shadow. This pattern signal a breather type formation at the new highs, after a sharp upmove of the previous couple of weeks. Hence, this could also mean a lack of selling enthusiasm in the market post sharp upmove/at all time highs. The Nifty closed above the crucial long term up trend line resistance at 12800 levels. The near term uptrend status remains intact and upside momentum is expected to continue after this small dip in the market. Hence, one may expect Nifty to move towards the new all time high of 12963 levels. A decisive/sustainable move above 13000 levels could open next upside targets of 13500-13600 in the near term. Immediate supports to be watched at 12680-12730 levels," said Nagaraj Shetti, Technical Research Analyst, HDFC Securities.
Amid a severe hit to the Indian economy by the Covid pandemic in the past eight months, the country’s foreign exchange reserves increased by more than $100 billion since the Covid-induced lockdown was enforced in March-end. From $469.9 billion in the week ended March 20, 2020, the forex reserves jumped by $102.8 billion to a lifetime high of $572.7 billion in the week ended November 13, 2020, according to the data released by the Reserve Bank of India. Importantly, the reserves grew by $4.277 billion from the week ended November 6, 2020. The jump was on account of Foreign Currency Assets (FCA), a major component of the country’s reserves, that increased by $5.526 billion to $530.2 billion from $524.7 billion in the preceding week.
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Morgan Stanley Capital International's semi-annual review will be effective from next week. The change in the indices has helped aid the FPI flows that doemstic markets have witnessed in the recent weeks.
Indian equity markets are likely to witness volatility this week due to concerns over rising cases of coronavirus and expiry of derivatives contracts, analysts said. Further, progress surrounding the COVID-19 vaccine, related updates, US stimulus talks and global cues would dictate the market trend, traders said.
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Foreign portfolio investors (FPI) have pumped in a net sum of Rs 49,553 crore in Indian markets this month so far on back of high liquidity coupled with improving global indicators and clarity after the US presidential elections. FPIs invested Rs 44,378 crore in equities and Rs 5,175 crore in the debt segment, taking the total net investment to Rs 49,553 crore between November 3-20. In October, FPIs invested a net sum of Rs 22,033 crore.
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