In the current week the November series Futures & Options contracts will expire, hence volatility is expected to be high.Share Market News Today | Sensex, Nifty, Share Prices LIVE: Sensex and Nifty were trading with gains on Monday morning. Sensex opened and reached an all-time high of 44,271 points while Nifty 50 was above the 12,900 levels. Among the top gainers on Sensex were IndusInd Bank, Bajaj Finserv, and Reliance Industries. HDFC, Mahindra & Mahindra, and Bharti Airtel were the top drags. Volatility was up 2.8% while smallcap and midcap indices continued to outperform the benchmark indices. Asian peers were trading with gains on Monday morning. Shanghai Composite was up in the green along with Kospi and KOSDAQ while Hang Seng was trading flat.
Foreign Portfolio Investors (FPI) have continued to buy domestic equities and debt instruments. So far in November FPIs have bought Rs 44,378 crore worth of stocks and Rs 5,175 crore worth of debt. If the inflows continue this week, November will witness the highest FPI inflows that India has ever received in a month. Earlier this year, FPIs had invested Rs 47,000 crore into domestic equities in the month of August — the highest till date.
Highlights
"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.
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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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