Share Market Highlights: Nifty trades below 19,750, Sensex above 65,900 ; Nifty Bank down over 100 points

Share Market News Today | Sensex, Nifty, Share Prices Highlights:  The benchmark equity indices ended Thursday’s trading session in the positive territory. The NSE Nifty 50 jumped 89.75 points or 0.44% to settle at 19,765.20, while the BSE Sensex jumped 306.55 points or 0.47% to 65,982.48. The broader indices ended largely in positive territory, with gains led by Midcap and Smallcap. Bank Nifty index dipped 40.15 points or 0.09% to settle at 44,161.55. IT and Healthcare stocks outperformed among the other sectoral indices while the bank and FMCG stocks shed. Here Motocorp, Tech Mahindra, HCL Tech, TCS, and Inosys were the top gainers on the NSE Nifty 50, while the laggers included Axis Bank, Coal India, Adani Enterprises, Tata Consumer Products, and ICICI Bank. The Indian Volatility Index (India VIX) closed up by 4.60 %.

(Source: NSE)

12:04 (IST) 16 Nov 2023 Impact of Elections on Markets

“During the last five General elections the markets had rallied in the run up to the elections with returns ranging from 3.1% to 30.4% in the six months to the elections. Sharp movements after the elections happen only when the election results are totally unexpected. This happened after the 2009 elections when the UPA govt got a thumping victory and the market set a record, hitting the upper circuit twice. Markets like stability and, therefore, the market’s preference would be the continuation of the BJP regime. But if the I.N.D.I.A alliance succeeds in toppling the NDA, there will be a sharp correction in the market. But the probability of such an outcome is very low now,” said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

12:03 (IST) 16 Nov 2023 Arrowhead Seperation Engineering IPO opens for subscription, GMP up 32%

Arrowhead Seperation Engineering IPO opens for public subscription today and will close on Monday, November 20, 2023. The price for its public issue at Rs 233 per equity share of face value Rs 10 each. At the upper end of the price band, the company’s promoters and shareholders seek to raise Rs 13 crore from the IPO. Ahead of the public issue, Arrowhead Seperation Engineering shares’ GMP rose to 32.29% over the upper end of the share price on offer.

The IPO comprises a fresh issue of 558,000 shares aggregating up to Rs 13 crore, with a lot size of 600 shares. For potential investors, the bidding starts at a minimum of 600 equity shares, with subsequent bids in multiple lots of 600 equity shares each. The Minimum amount required by a retail investor is Rs 139,800.

11:55 (IST) 16 Nov 2023 Active stocks

Bajaj Finance, HDFC Bank, ICICI Bank, Tata Motors and Manappuram Finance are among the most active stocks on the NSE during the intra-day trade on Thursday.

11:33 (IST) 16 Nov 2023 Suzlon Energy shares hit 52-week high

The share price of Suzlon Energy soared nearly 4% to hit a fresh 52-week high of Rs 42 after the company announced the RLMM listing of its S144 – 3 MW series of wind turbines which are extendable to 3.15 MW making them a formidable force in the market. This listing marks an important milestone for the successful commercialisation of the product.

10:50 (IST) 16 Nov 2023 Top losers at F&O

Info Edge, Vedanta, Max Financial, Hindalco Industries, and Power Grip Cooperation are the losing stocks on F&O trade.

10:42 (IST) 16 Nov 2023 Top Gainers on F&O

Manappuram Finance, Glenmark Pharma, Hindustan Petroleum, Bosch, and Vodafone Idea are the top gaining stocks on F&O trade.

10:04 (IST) 16 Nov 2023 TCS Sets buyback date

TCS sets November 25 as the record date for its Rs 17,000 crore buyback.

10:01 (IST) 16 Nov 2023 Technical View

“Expect momentum to slow down, but with 19,840 trajectory remaining intact. Inability to float above 19,673 could however discourage buyers from chasing prices, and could see them withdrawing until perhaps 19,637 or 19,560,” said Anand James, Chief Market Strategist at Geojit Financial Services.

09:52 (IST) 16 Nov 2023 USD-INR outlook

“The 83.02 region held forte as anticipated, even though the pull back thereof did not stretch all the way till 83.19. This could still unfold, though a break beyond the same is less expected. Expect 82.78, if 83.02 gives away,” said Anand James, Chief Market Strategist at Geojit Financial Services.

09:40 (IST) 16 Nov 2023 Derivative outlook

“Nifty weekly contract has highest open interest at 19,800 for Calls and 19,600 for Puts while monthly contracts have highest open interest at 20,000 for Calls and 19,000 for Puts. Highest new OI addition was seen at 19,700 for Calls and 19,600 for Puts in weekly and at 20,100 for Calls and 19,600 for Puts in monthly contracts. FIIs increased their future index long position holdings by 10.41%, increased future index shorts by 0.19% and decrease in index options by 19.41% in Call longs, 9.40% in Call short, 16.66% in Put longs and 9.94% in Put shorts,” said Anand James, Chief Market Strategist at Geojit Financial Services.

09:36 (IST) 16 Nov 2023 Broader View

“An important trend in the market is the increasing clout of DIIs, HNIs and retail investors and the diminishing influence of FPIs. During August, September October and November till date FPIs cumulatively sold stocks for Rs 83422 crores through the exchanges. During this period DIIs alone bought stocks worth Rs 77995 crores. FPI selling is completely getting neutralised by DII and individual investor buying. This is the reason why Nifty is around 19675, the same level which it was in early August. The resilience of the market and strong up moves on favourable days like yesterday have forced a rethinking in FPI strategy. That’s why they bought for Rs 550 crores yesterday after sustained selling in all other days of November,” said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

09:28 (IST) 16 Nov 2023 Top losers

Bajaj Finance, Bajaj Finserv, Grasim Industries, JSW Steel and Tata Steel are the top laggards on the NSE during the early trade on Thursday.

09:27 (IST) 16 Nov 2023 Top Gainers

ONGC, Hero MotoCorp, BPCL, DR Reddy’s and Coal India are the top gainers on the NSE Nifty 50 during the early trade on Thursday.

09:21 (IST) 16 Nov 2023 Markets at open

The NSE Nifty 50 opened flat at 19,674.70, while the BSE Sensex opened at 65,665.87 down 159.55 points.

09:13 (IST) 16 Nov 2023 Markets at pre open

The Indian benchmark indices ended the pre-opened session on flat node. The NSE Nifty 50 ended 0.75 points down at 19,674.70 and the BSE Sensex ended 10.06 points down at 65,665.87.

09:05 (IST) 16 Nov 2023 Crude Oil

WTI crude prices are trading at $76.13 down 0.68%, while Brent crude prices are trading at $80.64 down 0.67%, on Thursday morning.

08:55 (IST) 16 Nov 2023 Market outlook

“In yesterday’s trading, Nifty displayed strong momentum and ended on a positive note with a technically favorable outlook. Key hurdles are at 19,887, while interweek support lies at 19,421, with the 200-day moving average at 18,700. Options data suggests a likely trading range of 19,100-19,800. Positive global catalysts include Biden’s efforts on US-China relations, softer US inflation, and optimistic markets. Bullish sentiment prevails with expectations that the Fed has concluded its tightening cycle. Preferred trades involve buying Nifty and Bank Nifty with specified targets. The chart of the day is bullish on Siemens, Ashok Leyland, and L&T Financial. Additionally, a recommended stock to buy is Home First Finance Company India for a momentum play with specific entry, target, and stop loss points,” said Prashanth Tapse, Senior VP (Research), Mehta Equities.

08:38 (IST) 16 Nov 2023 F&O Ban

The NSE has added MCX India, Delta Corp, Hindustan Copper, Indiabulls Housing Finance, SAIL, and Zee Entertainment Enterprises to its F&O ban list for November 16, 2023.

08:30 (IST) 16 Nov 2023 FII, DII Data

Foreign institutional investors (FII) purchased shares worth net Rs 550.19 crore, while domestic institutional investors (DII) added shares worth net Rs 609.82 crore on November 15, 2023, according to the provisional data available on the NSE.

08:28 (IST) 16 Nov 2023 Wall Street

US stocks closed slightly higher on Wednesday, as fresh inflation data reinforced investor hopes that the Federal Reserve is done raising interest rates, while retail stocks were boosted by an upbeat forecast from Target (TGT.N), reported Reuters. The tech-heavy Nasdaq Composite gained 9.46 points or 0.07% at 14,103.84. The S&P 500 added 7.18 points or 0.16% at 4,502.88, while the Dow Jones Industrial Average surged 163.51 points or 0.47% to 34,991.21.