Sensex Today | Stock Market LIVE Updates: Nifty above 24,200, BEL, Infosys, Asian Paints top gainers

Adani Green Energy isued a clarification on Tuesday to the exchanges, stating that there will be no material impact on the company’s operations or its growth plans as there are no new financial commitments under consideration with TotalEnergies.

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Here are a few stock recommendations by Mitessh Thakkar of earningwaves.com:

Buy L&T Technology Services (LTTS) for a target price of ₹5,600 with a stop loss of ₹ 5,400
Buy Shree Cement for a target price of ₹26,400 with a stop loss of ₹25,000
Buy Indus Towers for a target price of ₹348 with a stop loss of ₹332
Sell MCX for a target price of ₹6,000 with a stop loss of ₹6,180

Adani Green says it has no new financial commitment under discussion with TotalEnergies

CNBC-TV18 accesses #USFDA observations for #Cipla’s Bengaluru Unit ???? pic.twitter.com/Q7LxlcOk18

— CNBC-TV18 (@CNBCTV18Live) November 26, 2024

The upmove in the stock price was seen after Union Cabinet approved a waiver of bank guarantees for telecom companies, marking a significant step toward easing the financial burden on the sector, with Vodafone Idea expected to be one of the key beneficiaries.

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Swiggy shares are up 5% after UBS initiated ‘buy’ call on company with a price target of ₹515.

The brokerage wrote in its note that Swiggy is well positioned for growth at 35% discount to Zomato.

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Mazagon Dock Shipbuilders is up over 3% after JPMorgan initiated ‘neutral’ call on company

Nifty HIT hit a record high of 44,240.55 today.

Infosys, Persistent Systems, LTIMindtree are the top Nifty IT gainers.

All 10 stocks in the index are trading with gains.

Brokerage firm JPMorgan has initiated coverage on three defence stocks – Bharat Electronics Ltd. (BEL) the latest entrant to the Nifty 50, along with Hindustan Aeronautics Ltd. (HAL) and Mazagon Dock Shipbuilders Ltd.

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Vodafone Idea shares are up 10% after after the Cabinet has said to have cleared bank guarantee waiver for telcos as per sources. 

#CNBCTV18Market | Market opens with minor gains. #Sensex starts the session above 80,400 & #Nifty around 24,350 pic.twitter.com/3ukO26xeeN

— CNBC-TV18 (@CNBCTV18Live) November 26, 2024

Global brokerage firm Jefferies has assigned a ‘Buy’ rating to Reliance Industries Ltd., and a price target of ₹1,700 per share. The price target implies a potential upside of 32% from Monday’s closing levels.

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Indian markets may open marginally higher according to the GIFT Nifty. Watch out for stocks like Adani Group stocks, Zomato, Swiggy and others.

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#CNBCTV18Market | Here’s how global market cues are placed this morning #GlobalMarkets #MarketCues #GlobalUpdates pic.twitter.com/nDWZKDzHUs

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Fitch Ratings has taken rating actions on various Adani Group entities following the bribery charges and the indictment of certain board members of Adani Green Energy by the US SEC and District Court.

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Essar Group’s co-founder Shashi Ruia died on November 25, 2024. He was 80 years old.

Shashi Ruia’s mortal remains will be at Ruia House to offer prayers from 1 pm to 3 pm on Tuesday, November 26. The funeral procession will leave from Ruia House at 4 pm towards Hindu Worli Crematorium.

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#Cabinet approves bank guarantee waiver for #telcos, nod paves way for telcos getting bank guarantee waiver for spectrum acquired pre-2022: Sources to @AshmitTejKumar

More details here ???? pic.twitter.com/AbExoTK2kw

— CNBC-TV18 (@CNBCTV18Live) November 26, 2024

Trump pledge on tariffs show he plans to follow through with the tough tariff rhetoric through the election campaign
Mexico and Canada are the United States’ largest trading partners. More than 83% of exports from Mexico went to the U.S. in 2023 and 75% of Canadian exports go into US
Trump said the tariffs would remain in place until the two countries clamp down on drugs, and migrants crossing the border illegally
Japan’s services PPI rose 2.9% y/y in October, higher than 2.5% estimated
Crude oil prices -3% overnight at $72.8

DII Net Sell 6,907.97 in Cash ( 17,624.75 – 24,532.72 Cr)
FII Net Buy 9,947.55 Cr in Cash ( 85,251.94 – 75,304.39Cr)

Zomato and KEI QIPs today

Tuesday Trade: Cautiously Optimistic

Wallstreet rally continues led by Dow (up 1%)
Trump tariff action key watch point
Trump; Will impose additional 10% tariffs on all Chinese goods
Asian markets in the red on tariff action nervousness
Trump: 25% tariff on all goods coming from Mexico & Canada
Money markets continue cheering Scott Bessent’s announcement as Treasury Secy
US 10 yr yield cools sharply to 4.3%
Bessent seen as ‘fiscally conservative’
Dollar decline short lived; DXY back above 107
Nifty sees 1000 point recovery in 2 days from low of 23263
Bulls could take a pause today after conquering 20 DMA of 24022
Monday FPI numbers positive due to MSCI rebalancing impact
Key Q: Is FPI selling reducing meaningfully ?

#CNBCTV18Market | #GIFTNifty trading with a discount of nearly 40 points from Nifty Futures’ Monday close, indicates a start in the Red for Indian market pic.twitter.com/aCuzdmBR7j

— CNBC-TV18 (@CNBCTV18Live) November 26, 2024

Oil steadied after a sharp decline in the previous session as Israel said that it had edged closer to a ceasefire agreement with Hezbollah.

West Texas Intermediate traded near $69 a barrel after losing 3.2% on Monday, while Brent crude closed near $73. Israel said it’s potentially days away from a deal with the Iran-backed group, which could diminish the risk to Middle Eastern crude supply and ships traversing the region. Still, it remains unclear if Hezbollah will accept a truce.

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The dollar strengthened against all its Group-of-10 peers after President-elect Donald Trump said the US will impose additional 10% tariffs on Chinese goods and place 25% levies on imports from Mexico and Canada.

Asian shares fell with benchmarks declining in Japan, Australia and South Korea. In posts to his Truth Social network on Monday, Trump claimed China had failed to follow through on promises to crack down on drugs, and the levies on Mexico and Canada were needed to clamp down on migrants and illegal drugs flowing into the US. Treasuries fell.

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The Indian equity market began the week on a strong note, extending Friday’s momentum, but ended off its highs, with the Nifty settling above 24,200. The Nifty opened with a massive upside gap-up of 346 points, traded in a narrow range, and closed at 24,221.90.

Read today’s Trade Setup here

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