Share Market News Today Updates, 30 November 2022: Trends on SGX Nifty indicated a flat opening for the domestic markets. Share Market Updates Today: Indian equity benchmarks edged higher in opening deals today ahead of gross domestic product (GDP) data and the US Federal Reserve Chairman Jerome Powell's speech, both due later in the day, for cues on future interest rate hikes. GDP Data for the July-September quarter (Q2) is scheduled to be released at 5:30 pm on Wednesday. Wall Street equities closed mostly lower overnight, ahead of Powell's speech about the outlook for the US economy and the labour market. Asian markets were mixed as Japan's Nikkei fell 0.61 per cent, while South Korea's Kospi rose 0.51 per cent, China's Shanghai Composite climbed 0.25 per cent and Hong Kong's Hang Seng index moved 0.24 per cent higher. Meanwhile, US crude futures rose 1.2 per cent on expectations of China easing strict Covid-19 controls and a fall in crude stocks, but concerns that OPEC+ would keep production unchanged in its meeting on December 4, capped gains. Back home, foreign institutional investors bought net of Rs 1,242 crore equities on Tuesday, while domestic investors sold Rs 744 crore worth of shares, as per provisional NSE data.
Here are the share market Live Updates:
Sensex rises 60 points or 0.10 per cent to trade at 62,742, Nifty moves 14 points or 0.07 per cent higher to trade at 18,632
Japan's Nikkei fell 0.61 per cent, while South Korea's Kospi rose 0.51 per cent, China's Shanghai Composite climbed 0.25 per cent and Hong Kong's Hang Seng index moved 0.24 per cent higher.
The pull back yesterday in the second half may have helped shake off the weakness that has crept in after prolonged upsides in the last few days which had begun to show as negative divergences, as discussed yesterday. This allows Nifty to continue on the 18,800-19,000 trajectory, without much of a drama. This also encourages us to keep the downside marker in the 18,500 vicinity for the opening moves, and move it higher as the day progresses.
Dow Jones Industrial Average rose 0.01 per cent, while S&P500 index and Nasdaq Composite declined 0.16 per cent and 0.59 per cent, respectively.
The initial public offering (IPO) of Uniparts India, a global manufacturer of engineered systems and solutions, is all set hit stock market today. The IPO price band has been fixed at Rs 548-577 apiece.
An important feature of the ongoing rally which has taken the Sensex and Nifty to record highs is that this is a mature rally led by high-quality stocks in performing sectors. There is no celebration in the market because this rally has largely bypassed the broad market. While the Nifty is up 7.2 per cent YTD, the Nifty Small cap Index is down by around 12 per cent YTD. So, the vast majority of retail investors whose portfolios are predominantly small-cap oriented, have not benefited from this rally. This experience also underlines the importance of investing in quality stocks. Since the valuations are elevated from a near-term perspective, there is no scope for the rally to continue unabated. Profit booking and DII selling at higher levels can trigger corrections. The Fed chief’s observations today will be important for global markets. Markets expect indications of slowing down the rate hikes. Any comments to the contrary will be negative for markets.
BHEL, Delta Corp, Indiabulls Housing Finance and PNB are in F&O (Futures and Options) ban period today. Stocks are placed under F&O ban when the derivative contracts in their securities cross 95 per cent of the market-wide position limit.
Biocon: Biologics subsidiary completed acquisition of Viatris' global biosimilars business.
Gland Pharma: The drugmaker to buy French Pharmaceutical firm Cenexi for 120 million euros ($123.3 million) to expand presence in Europe.
NDTV: The company's founders Radhika Roy and Prannoy Roy resigned as directors on the board of the promoter group vehicle RRPR.
IndiGo, SpiceJet: Tata Group is merging Air India with Vistara to create a bigger full-service carrier.
Foreign institutional investors (FIIs) bought Rs 1,241.57 crore worth of shares, while domestic institutional investors (DIIs) sold Rs 744.42 crore worth of shares on November 29, provisional NSE data showed.
Trends on SGX Nifty indicated a flat opening for the domestic markets. The Nifty Futures on Singapore Exchange also known as the SGX Nifty Futures edged 2 points or 0.01 per cent higher to trade at 18,760.5.
The benchmark BSE Sensex had climbed 177 points or 0.28 per cent to hit fresh closing high of 62,681.84 on Tuesday, while the broader NSE Nifty had moved 55 points or 0.30 per cent higher to settle at a new closing peak of 18,618.05.
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