Sensex Today | Stock Market View: Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
The range bound movement of the market is likely to be broken with an upward move soon. The global cues are supportive. The softening US bond yields ( the 10-year yield is at 4.41 percent ) will provide the big global macro backdrop for a market rally. The market is likely to wait till the State elections outcome is known. If the State election outcome indicates political stability after the General elections of 2024, that will act as the trigger for the rally. And, if such a rally happens, it is likely to be led by large-caps across the board in sectors like banking, IT, automobiles, capital goods, telecom, real estate and construction-related segments. Weakening Chinese growth prospects will weigh on commodities.Financials, particularly NBFCs, beaten down by the RBI decision to hike the risk weightage on unsecured loans present long-term buying opportunity.
11:06:41 AM IST, 21 November 2023
Sensex Today | Stock Market LIVE Updates | Strides receives USFDA approval for Levetiracetam Oral Solution; stock up 4%
11:08:23 AM IST, 21 November 2023
IPO WATCH | Tata Tech IPO to open tomorrow: Should you subscribe?
Tata Tech, a long-awaited IPO from the Tata Group, is here, and its name itself signifies trust among investors. The company has deep expertise in the automotive industry and differentiated capabilities to deal with emerging trends. It is a well-recognized brand with experienced promoters. Also, it has showcased strong financial growth in its past performance.
There might be some concerns, like any other business, like dependence on a few top clients and third-party vendors, risk related to foreign exposure, and a competitive industry.
Well, the IPO is coming at a very attractive valuation of 32.5x, and it’s a great opportunity for investors. Thus, one should surely apply for this IPO for listing gain as well as for long-term benefits.
— Shivani Nyati, Head of Wealth, Swastika Investmart Ltd
10:59:19 AM IST, 21 November 2023
India bond yields ease tracking US peers; state debt sale eyed
Indian government bond yields fell in early trading on Monday as investors took comfort from easing U.S. peers, with focus turning to a weekly sale of state debt.
The 10-year benchmark bond yield was at 7.2415% as of 10:05 a.m. IST, after ending the previous session at 7.2575%.
10:46:10 AM IST, 21 November 2023
Sensex Today | Stock Market LIVE Updates | Hindustan Media Ventures enters into agreement for investing approx Rs11 crores by subscribing to 807 equity shares of DSM FreshFoods Private Limited (“Zappfresh”).
10:37:06 AM IST, 21 November 2023
Sensex Today | Stock Market LIVE Updates | KEC International secures new orders worth Rs. 1,005 crores across its various businesses.
10:31:41 AM IST, 21 November 2023
Stock Market LIVE Updates | BLOCK DEAL: 10.6 lakh shares of Jio Financial change hands; stock up 3%
Most analysts recommend subscribing to the initial public offering of Miniratna company Indian Renewable and Energy Development Agency Ltd (IREDA), given that it’s the largest pure-play in green energy financing and also gives an opportunity to bet on the country’s renewable energy goals. IREDA’s Rs 2,150 crore worth IPO opens for subscription on Tuesday and closes on Thursday.
09:58:48 AM IST, 21 November 2023
Sensex Today | Stock Market LIVE Updates: Shreeji Translogistics to consider issuance of bonus shares; stock jumps 6%
09:56:02 AM IST, 21 November 2023
Sensex Today | Stock Market LIVE Updates: Oberoi Realty shares also opened over 3% higher after the firm launched a luxury residential project – “Forestville”, spread across 18 acres in Thane district of Maharashtra.
09:40:24 AM IST, 21 November 2023
Sensex Today | Stock Market LIVE Updates: InCred downgraded SBI Card to reduce from ADD earlier and has also slashed the target price to Rs 600 from Rs 1000 earlier. The Reserve Bank of India (RBI) increased the risk weight on credit card receivables and SBI Card is the worst-hit. “We moderate our growth and margin assumptions for SBI Cards. We assume 4.1% capital consumption on an immediate basis for SBI Card,” said the note.
09:38:35 AM IST, 21 November 2023
Sensex Today | Stock Market LIVE Updates | Vascon Engineers rose 8% after the firm received an order worth Rs 357 crore from Pimpri-Chinchwad Municipal Corp for the construction of a general hospital building in Pune.
09:27:42 AM IST, 21 November 2023
Sensex Today | Stock Market LIVE Updates | Nifty Smallcap index hits record high!
09:25:36 AM IST, 21 November 2023
Sensex Today | Stock Market LIVE Updates | Nifty Midcap 100 hits record high!
09:20:44 AM IST, 21 November 2023
Sensex Today | Stock Market LIVE Updates: MOIL, BHEL among most active stocks in morning trade
09:19:05 AM IST, 21 November 2023
Opening Bell: Sensex climbs over 200 points, Nifty above 19,750; Mid, smallcap indices hit record highs
09:12:26 AM IST, 21 November 2023
BROKERAGE RADAR | CLSA INDIA STRATEGY
• Liquid large caps best for riding out uncertainty from rising real rates • Play safe as rising real rates in US and India • Three defensive principles: underperformance, defensive, independent trigger • Stick to recommendations: Axis Bank, Bharti Airtel, Hindustan Unilever, ICICI Bank, TCS, SBI, M&M, NTPC, Sun Pharma and UltraTech
The GIFT Nifty rose 67 points to 19,809, driven by dovish Federal Reserve expectations. FOMC minutes at 11:30 PM IST are eagerly awaited for signals on the rate hike cycle. Speculation grows about a Fed rate cut in H1 2024. Bulls need Nifty above 19,889 for a victory. Positive Wall Street cues may boost sentiment. Crossing 19,889 signals a festive atmosphere. Corrective declines to Nifty 19,621 may find support. Options suggest a range of 19,100-19,800. Tata Technologies IPO (Nov 22) and IREDA IPO (Nov 21) have ‘Subscribe’ ratings. Nifty (19,694) buy with stop at 19,421, targets at 19,807, 19,889, and aggressive targets at 20,000. Bank Nifty (43,585) buy in 43,000-43,150 zone, stop at 42,671, targets at 44,000, 44,500, and aggressive targets in 45,100-45,500 zone. Preferred stocks for trading on intraday weakness with an inter-week perspective are INDIGO, SIEMENS, MUTHOOTH FINANCE, TATA CONSUMER, and TITAN.
08:39:31 AM IST, 21 November 2023
Forex Market LIVE Updates: Rupee to see mild respite on yuan-lead rally on Asia Fx
The Indian rupee is likely to inch higher at open on Tuesday, lifted by a broad rally in Asian peers which pushed the Chinese yuan to its highest in nearly four months.
Non-deliverable forwards indicate rupee will open at around 83.30 to the U.S. dollar compared with 83.34 in the previous session.
The rupee has not participated at all in dollar’s slump on soft U.S. data prints. The currency is within a whisker of its lifetime low of 83.42.
08:21:14 AM IST, 21 November 2023
Sensex Today | Stock Market LIVE Updates: Japan’s Nikkei seen rising to 35,000 by mid-2024 on earnings boost
Japan’s Nikkei 225 share average will continue its more-than-28% rally this year into 2024 to reach a three-decade high of 35,000 by end-June, according to analyst estimates in a Reuters poll.
08:00:38 AM IST, 21 November 2023
Sensex Today | Stock Market LIVE Updates: Dollar nurses losses as US rates seen peaking
The dollar was on the defensive and trading by multi-month lows on the euro and a handful of other major currencies on Tuesday, as investors expect U.S. interest rates to fall next year and see that as a signal to sell the dollar in anticipation.
08:00:08 AM IST, 21 November 2023
Sensex Today | Stock Market LIVE Updates: Gold rises on dollar weakness as focus turns to Fed minutes
Gold prices rose on Tuesday, supported by a weaker U.S. dollar and Treasury yields as investors look forward to minutes from the Federal Reserve’s latest meeting for more guidance on its interest rate outlook.
07:21:57 AM IST, 21 November 2023
Sensex Today | Stock Market LIVE Updates: GIFT Nifty (Earlier SGX Nifty) signals a muted start
GIFT Nifty on the NSE IX traded higher by 8 points, or 0.04 per cent, at 19,815, signaling that Dalal Street was headed for muted start on Tuesday.
Nifty on Monday ended 38 points lower to form a small red candle with minor upper and lower shadows on the daily chart.
07:22:14 AM IST, 21 November 2023
Sensex Today | Stock Market LIVE Updates: Rupee falls 12 paise to hit all-time low of 83.38 against US dollar
The rupee declined by 12 paise to settle at its all-time low of 83.38 against the US dollar on Monday, tracking a negative trend in domestic equities.
07:22:23 AM IST, 21 November 2023
Sensex Today | Stock Market LIVE Updates: Tokyo’s Nikkei index opens higher
Tokyo’s key Nikkei index opened slightly higher on Tuesday after rallies on Wall Street, with investors awaiting the latest clues on the US Federal Reserve’s interest rate plans.The benchmark Nikkei 225 index was up 0.05 percent, or 17.37 points, at 33,405.40 in early trade, while the broader Topix index slipped 0.09 percent, or 2.22 points, to 2,370.38.c
07:22:31 AM IST, 21 November 2023
Sensex Today | Stock Market LIVE Updates: Nasdaq leads Wall Street gains as Microsoft hits record
Wall Street’s three major stock averages closed higher on Monday with Nasdaq’s 1% rally leading the charge as heavyweight Microsoft hit a record high after it hired prominent artificial intelligence executives.
07:22:41 AM IST, 21 November 2023
Sensex Today | Stock Market LIVE Updates: Oil prices ease as demand concerns outweigh supply cuts prospect
Oil futures eased on Tuesday, reversing the previous day’s rally, as concerns over weaker demand amid a slowing global economy outweighed the prospect of deepening supply cuts by OPEC and its allies such as Russia.
07:22:49 AM IST, 21 November 2023
Sensex Today | Stock Market LIVE Updates: Sensex, Nifty on Monday
Indian frontline indices ended Monday with declines amid selling pressure in auto, FMCG and metal stocks, although the IT pack tried to cap some losses as it emerged as the top performer. While the S&P BSE Sensex declined 140 points or 0.21% to close at 65,655.15, the broader Nifty50 settled 38 points or 0.19% lower at 19,694.25