Share Market Highlights: Nifty settled above 19400, Sensex over 64,900; Bank Nifty advanced over 130 points

Share Market News Today | Sensex, Nifty, Share Prices Highlights: The benchmark equity indices ended Friday’s trading session in the positive territory. The NSE Nifty 50 gained 30.05 points or 0.15% to settle at 19,425.35, while the BSE Sensex jumped 72.48 points or 0.11% to 64,904.68. The broader indices ended largely in positive territory, with gain led by Midcap and Smallcap stocks. Bank Nifty index gained 136.50 points or 0.31% to settle at 43,820.10. Metal and Financial Services stocks gained the most among the other sectoral indices while Media and Auto shed. NTPC, ONGC, TATA Consumer Products, Tech Mahindra and UltraTech Cement were the top gainers on the NSE Nifty 50, while the laggards included Hero MotoCorp, Mahindra & Mahindra, HCL Technologies, Titan Company and Hindalco. The Indian Volatility Index (India VIX) closed up by 1.11 %.

(Source: NSE)

11:25 (IST) 10 Nov 2023 Suven Pharma soars

The share price of Suven Pharma soared 2.65% to Rs 571.35 after the company reported Q2FY24 profit at Rs 79.56 crore, up 10.4% in comparison to Rs 72.06 crore during the same period last year. It posted revenue from operations at Rs 231.05 crore, down 17% as against Rs 278.40 crore during the second quarter of FY23.

10:49 (IST) 10 Nov 2023 Dhanteras investment

“Many festivals in India are considered auspicious to buy Gold, and Dhanteras is among the favourites. In India, people invest in Gold for long-term gains. That is why Indian households have the highest reserves of Gold, roughly 21000 tonnes. Gold is very close to Indian’s hearts and is a more sentimental investment than a speculative one. Since Dhanteras last year, Gold has given a mind-boggling return of almost 20 per cent, easily beating the returns of the Nifty 50. Gold was lingering due to the strong dollar index and the hawkish stance of the Fed at the end of September. It trapped all the bears as war broke out between Israel and Hamas. This geopolitical tension in the Middle East boosted Gold prices as it gained almost 10 per cent from the recent swing lows and made a multi-month high of 61500 level as investors flocked towards Gold due to its safe-haven appeal. With the US election around the corner in 2024 and the geopolitical situation worldwide, the sky-high interest will not sustain for a long period. The Fed will eventually start cutting the rates, supporting Gold prices. Any dips around 57000-58000 can be used as a buying opportunity for investors during this Diwali season,” said Deveya Gaglani, Research Analyst – Commodities, Axis Securities.

09:54 (IST) 10 Nov 2023 Active stocks

Reliance Industries, CDSL, PFC, HAL and Zomato are the most active stocks on the NSE during the early trade on Friday.

09:30 (IST) 10 Nov 2023 Top gainers on NSE

Adani Ports, Adani Enterprises, ONGC, HDFC Life Insurance and Apollo Hospitals are the top gainers on the NSE Nifty 50 during the early trade on Friday.

09:29 (IST) 10 Nov 2023 Derivative outlook

“Nifty weekly contract has highest open interest at 19,400 for Calls and 19,400 for Puts while monthly contracts have highest open interest at 19,500 for Calls and 19,000 for Puts. Highest new OI addition was seen at 19,400 for Calls and 19,400 for Puts in weekly and at 19,500 for Calls and 19,400 for Puts in monthly contracts. FIIs decreased their future index long position holdings by 0.76%, increased future index shorts by 0.03% and decreased in index options by 16.30% in Call longs, 7.47% in Call short, 22.10% in Put longs and 17.21% in Put shorts,” said Anand James, Chief Market Strategist at Geojit Financial Services.

09:23 (IST) 10 Nov 2023 Markets at open

The NSE Nifty 50 opened at 19,351.85 down 0.22%, while the BSE Sensex opened at 64,756.11 down 76.09 points.

09:03 (IST) 10 Nov 2023 Bullion

“The gold and silver market is maintaining modest gains as Federal Reserve Chair Jerome Powell continues to express a tightening bias. Powell states that while inflation has decreased, the central bank remains uncertain about having it fully under control. The Indian festival season has begun today, with buyers stepping in to take advantage of the price dip following recent technical selling pressure. The key external market factors have generally been supportive for gold and silver today. US Treasury bond yields, which had dropped last week, have now halted their decline and are rising, but this has not significantly impacted gold prices. We anticipate that gold and silver prices will remain volatile in today’s session. Gold has a support level at $1945-1932, with resistance at $1972-1985. For silver, the support is at $22.45-22.20, and resistance is at $22.90-23.15. In terms of Indian Rupees (INR), gold finds support at Rs 60,040-59,870, with resistance at Rs 60,550 and Rs 60,730. Silver, in INR, has support at Rs 70,420-69,750, while resistance can be found at Rs 71,950 and Rs 72,630,” said Rahul Kalantri, VP Commodities, Mehta Equities.

09:02 (IST) 10 Nov 2023 Morning View

“The 8-day winning streak in S&P 500 was halted by a slightly hawkish statement from the Fed chief Jerome Powell that “the Fed will not hesitate to tighten policy if needed.” The lingering concern that ‘the rates may remain higher for longer’ will continue as a headwind for stock markets for some time, but is unlikely to drag it down meaningfully. The Indian market texture indicates that the ‘buy on dips’ strategy will continue to work. In Samvat 2080, Financials are likely to do well supported by attractive valuations and impressive growth. Sustained FII selling in financials, which is impacting the sector, will be only temporary. For investors with a 2-year time horizon, the leading private banks and 3 or 4 PSU banks are good buys with good return potential. The mid and small-cap rally is partly driven by retail exuberance and since the valuations in this broader market is high, investors have to exercise some caution,” said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

08:40 (IST) 10 Nov 2023 FII, DII Data

Foreign institutional investors (FII) offloaded shares worth net Rs 1,712.33 crore, while domestic institutional investors (DII) added shares worth net Rs 1,512.14 crore on November 9, 2023, according to the provisional data available on the NSE.

08:34 (IST) 10 Nov 2023 Crude Oil

WTI crude prices are trading at $75.70 down 0.09%, while Brent crude prices are trading at $80.04 up 0.04%, on Friday morning. 

08:33 (IST) 10 Nov 2023 US Dollar

The US Dollar Index (DXY), which measures the value of the dollar against a basket of six foreign currencies, traded down 0.05% at 105.86.

08:33 (IST) 10 Nov 2023 Wall Street

US stocks closed lower on Thursday, snapping the longest winning streaks for the Nasdaq and S&P 500 in two years, as Treasury yields climbed after a disappointing auction of 30-year bonds and comments from Federal Reserve Chair Jerome Powell, reported Reuters. The tech-heavy Nasdaq Composite fell 128.97 points or 0.94 % to 13,521.45. The S&P 500 tumbled 35.43 points or 0.81 % to 4,347.35, while the Dow Jones Industrial Average dropped 220.33 points or 0.65% to 33,891.94.