Share Market Updates Today: Indian equity benchmarks settled lower on Friday, pausing their winning run of eight straight sessions amid weak cues from the global markets. Asian shares fell, tracking an overnight decline in Wall Street. Japan’s Nikkei plunged 1.59 per cent, South Korea’s Kospi slipped 1.84 per cent, China’s Shanghai Composite slipped 0.29 per cent and Hong Kong’s Hang Seng index fell 0.33 per cent. Investors waited for US jobs data to gauge more signs of a shift on interest rate plans from the Federal Reserve. US stock futures were flat, indicating a muted opening for Wall Street later today. S&P futures edged 0.04 per cent higher, Nasdaq futures slipped 0.03 per cent and Dow Futures shed 0.02 per cent. Back home, foreign institutional investors sold a net of Rs 1,565.93 crore in equities on Wednesday, while domestic investors bought Rs 2,664.98 crore worth of shares, as per provisional NSE data.
Here are the share market highlights:
Nifty tech & Bank Nifty view – Rupak De, Senior Technical Analyst at LKP Securities
Bears remained at the helm throughout the day as the benchmark index couldn’t pare the morning loss. However, the correction was limited to 0.62% by the end of the session. Over the near term, sentiment is likely to remain sideways, with 18,500-18,800 to be the crucial range. A decisive breakout from either band may induce a clean directional move in the market.
The Bank Nifty started lower and remained sideward throughout the session. During the day Put writers have protected 43,000 levels; whereas on the higher end the index failed to move beyond 43,150. The daily RSI has entered a bearish crossover. Over the short term the trend is likely to remain sideways to negative. On the lower end, support is visible at 42,900/42,700. Resistance on the higher end is visible at 43,200/43,500.
Paytm Analyst Day
Paytm’s management highlighted the large growth opportunity for the payments business in India with a potential of 10 crore merchants and more than 50 crore payment customers and opportunity to cross sell financial services and commerce business offerings to them. The stock settled 7.06 per cent higher at Rs 536.90. (Read more)
Lagnam Spintex’s official bought 1.23 lakh equity shares from open market
Lagnam Spintex, one of the leading manufacturers of high-quality cotton yarns, has reported to NSE that its executive director Shubh Mangal has bought the shares from open market Between 22nd November to 30th November 2022. As per disclosure submitted by the Company under regulation 7(2) of SEBI (Prohibition of Insider Trading) Regulations, 2015, Mr. Shubh Mangal, Executive Director of the Company, purchased in total 1.23 lacs equity shares with an average price of Rs. 58.81 per share.
Share market breadth
The overall market breadth stood strong as 2,034 shares advanced while 1,449 declined on BSE. The market capitalization (m-cap) of BSE-listed companies stood at Rs 289.58 lakh crore.
Nifty Auto, Nifty Financial Services & Nifty FMCG underperform
10 out of the 15 sector gauges — compiled by the National Stock Exchange — settled in the red. Sub-indexes Nifty Auto, Nifty Financial Services and Nifty FMCG outperformed the NSE platform by falling as much as 1.10 per cent, 0.62 per cent and 0.48 per cent, respectively. In contrast, Nifty Metal and Nifty PSU Bank slipped 0.44 per cent and 0.42 per cent, each.
Most active stocks
Reliance Industries, Raymond, BHEL, ICICI Bank, Paytm, Bajaj Finance, Maruti, TCS, Tata Steel and VBL were among the most active stock on NSE, in terms of volume.
Mid and small-cap stocks
Mid- and small-cap shares finished on a higher note as Nifty Midcap 100 gained 0.88 per cent and small-cap rose 0.60 per cent.
Top gainers & losers on NSE
On the stock-specific front, Eicher Motors was the top Nifty loser as the stock cracked 3.10 per cent to close at Rs 3,331. Tata Consumer Products, M&M, Hero MotoCorp and Hindustan Unilever were also among the laggards. In contrast, Apollo Hospitals, Tech Mahindra, DR Reddy’s, Tata Steel and Grasim were among the top gainers.
Share market closing: Sensex, Nifty pause 8-day losing run
Sensex falls 416 points or 0.66 per cent to settle at 62,868, Nifty moves 116 points or 0.62 per cent lower to close at 18,696
Paytm up 5%
Shares of One 97 Communications Ltd, Paytm’s parent, climbed 5.19 per cent to trade at Rs 527.60. The stock touched a day high of Rs 527.65. A total of 10.33 lakh shares changed hands today, amounting to a turnover of Rs 54.40 crore. The company’s market capitalisation (m-cap) stood at Rs 34,288.40 crore.
Share market update: Sensex down over 400 points, Nifty trades below 18,700
Sensex dives 422 points or 0.67 per cent to trade at 62,863, Nifty moves 116 points or 0.62 per cent lower to trade at 18,696; Eicher Motors, M&M, Tata Consumer Products, HUL, Hero MotoCorp top drags
KRBL Ltd down 2%
Shares of KRBL Ltd slipped 2.39 per cent to trade at Rs 426.05. The stock touched a day low of Rs 424.05. A total of 58,000 shares changed hands today, amounting to a turnover of Rs 2.46 crore. The company’s market capitalisation (m-cap) stood at Rs 10,028.79 crore.
Easy Trip Planners Ltd down 2%
Shares of Easy Trip Planners Ltd slipped 2.48 per cent to trade at Rs 65. The stock touched a day low of Rs 64.55. A total of 4.09 lakh shares changed hands today, amounting to a turnover of Rs 2.69 crore. The company’s market capitalisation (m-cap) stood at Rs 11,299.08 crore.
Tejas Networks Ltd down nearly 3%
Shares of Tejas Networks Ltd fell 2.88 per cent to trade at Rs 642.95. The stock touched a day low of Rs 640.35. A total of 16,000 shares changed hands today, amounting to a turnover of Rs 1.03 crore. The company’s market capitalisation (m-cap) stood at Rs 9,784.86 crore.
Share market update: Sensex falls over 550 points in afternoon deals, Nifty tests 18,650
Sensex tanks 555 points or 0.88 per cent to trade at 62,729, Nifty moves 159 points or 0.84 per cent lower to trade at 18,654; Eicher Motors, M&M, Tata Consumer Products, SBI Life, Hindustan Unilever top drags
HUL shares fall over 1.5%
Shares of Hindustan Unilever fell 1.71 per cent to trade at Rs 2,617. The stock touched a day low of Rs 2,608.10. A total of 17,000 shares changed hands today, amounting to a turnover of Rs 4.33 crore. The market capitalisation (m-cap) of the company stood at Rs 6,14,888.03 crore.
Vedanta, Apollo Hospitals buck weak trend; stocks among top BSE100 gainers
Shares of Vedanta rose 1.45 per cent to Rs 314.70 while those of Bharat Electronics were up 1.44 per cent at Rs 105.65. Apollo Hospitals, ICICI Lombard, Voltas, Bhandhan Bank and AU SFB were among BSE100 stocks that gained over 1 per cent in an otherwise weak market.
Share market update: Sensex falls over 500 points in late morning deals, Nifty tests 18,650
Sensex tanks 506 points or 0.80 per cent to trade at 62,778, Nifty moves 146 points or 0.78 per cent lower to trade at 18,666; Eicher Motors, M&M, Cipla, Tata Consumer Products, TCS top drags
Adani Transmission Ltd shares fall 3%
Shares of Adani Transmission Ltd tumbled 3.10 per cent to trade at Rs 2,744.60. The stock touched a day low of Rs 2,730. A total of 9,929 shares changed hands today, amounting to a turnover of Rs 2.73 crore. The market capitalisation (m-cap) of the company stood at Rs 3,06,158.12 crore.
Unichem Laboratories Ltd shares dive 5.5%
Shares of Unichem Laboratories Ltd cracked 5.58 per cent to trade at Rs 378.35. The stock touched a day low of Rs 377.20. A total of 26,000 shares changed hands today, amounting to a turnover of Rs 1 crore. The market capitalisation (m-cap) of the company stood at Rs 2,663.80 crore.
M&M down nearly 2%
Shares of Mahindra & Mahindra slipped 1.89 per cent to trade at Rs 1,268.85. The stock touched a day low of Rs 1,266.35. A total of 23,000 shares changed hands today, amounting to a turnover of Rs 2.95 crore. The market capitalisation (m-cap) of the company stood at Rs 1,57,823.29 crore.
Eicher Motors down 2.5%
Shares of Eicher Motors fell 2.58 per cent to trade at Rs 3,348.85. The stock touched a day low of Rs 3,335. A total of 13,000 shares changed hands today, amounting to a turnover of Rs 4.30 crore. The market capitalisation (m-cap) of the company stood at Rs 91,583.69 crore.
Share market update
Sensex drops 411 points or 0.65 per cent to trade at 62,874, Nifty moves 118 points or 0.63 per cent lower to trade at 18,694; Eicher Motors, M&M, Bajaj Auto, Tata Consumer Products, TCS top drags
Impact of windfall tax reduction on domestic crude
Reliance Industries, ONGC, GAIL, Oil India, Chennai Petroleum and Mangalore Refineries, rose after the government reduced windfall tax on domestic crude by half to Rs 4,900 per tonne and levy on diesel exports to Rs 6.5 per litre.
NLC India rises 2% on signing MoU with GRIDCO
Shares of NLC India (NLCIL) jumped 2 per cent in Friday’s trade after the company signed memorandum of understanding (MoU) with Grid Corporation of Odisha (GRIDCO) for the purpose of setting up floating solar power projects, pumped hydro storage projects, green hydrogen projects and other renewable projects at ‘Make in Odisha Conclave,’ being held at Bhubaneswar on December 1. This MoU will enable both the parties towards the National targets for Renewable Energy capacity and Energy Transition goal. The stock rose 2.39 per cent to hit a high of Rs 85.40 on BSE.
Talbros Automotive soars 8% on Rs 420 crore orders
Talbros Automotive Components rose 8 per cent in Friday’s trade after the company received new multi years orders worth Rs 420 crore from both, domestic and overseas customers across its business divisions, product segments and JVs. The scrip rose 8.28 per cent to hit a high of Rs 501 on BSE. Talbros said the fresh orders will be be executed over a period of next 5 years covering the company’s product lines – gaskets, heat shields, forgings and chassis.
Likhitha Infra goes ex-stock split, stock jumps 8%
Shares of Likhitha Infrastructure jumped over 8 per cent in Friday’s trade, adding to its recent rise after ace investor Ashish Kacholia bought shares in the company. The scrip went ex-stock split today from Rs 10 to Rs 5 per share. The stock rose 7 per cent to hit a high of Rs 248.95 on BSE. Kacholia bought 3,97,000 Likhitha Infrastructure shares worth Rs 15.20 crore on Wednesday.
Most active stocks
Maruti, Bajaj Finance, Paytm, ICICI Bank, L&T Tech, Reliance Industries, TCS, Yes Bank, VBL and Raymond were the most active stocks on the NSE platform, in terms of volume.
Share market breadth
The overall market breadth stood strong as 1,814 shares were seen advancing while 1,172 were declining on BSE.
Sectoral indices’ performance
10 out of the 15 sector gauges — compiled by the National Stock Exchange — were trading in the red. Sub-indexes Nifty Auto and Nifty Financial Services were underperforming the NSE platform by falling 1.11 per cent and 0.62 per cent, respectively. On the flip side, Nifty Oil & Gas and Nifty PSU Bank climbed 0.46 per cent and 0.36 per cent, each.
Mid & small cap indexes
Mid- and small-cap shares were positive as Nifty Midcap 100 and small-cap rose 0.19 per cent, respectively.
Top gainers and losers on NSE
Eicher Motors, Maruti, Divi’s Lab, ICICI Bank and Tata Consumer Products were among the top gainers on the NSE platform today with their shares down as much as 2.39 per cent. In contrast, ONGC, BPCL, Hindalco, Reliance Industries and Coal India were among the top laggards.
Share market opening
Sensex falls 306 points or 0.48 per cent to trade at 62,978, Nifty moves 60 points or 0.32 per cent lower to trade at 18,752
Sensex falls 276 points or 0.44 per cent to 63,007.74 in pre-opening deals; Nifty moves 110 points or 0.59 per cent lower to 18,702.40
Rupee vs dollar view – Amit Pabarii, MD, CR Forex Advisors
The Indian rupee rose in November by more than 1.70%, marking its first monthly gain this year and ending its longest losing streak in nearly four decades as the USD entered into a strong bearish trend. Yesterday, the USD-INR pair had tested the 81 mark for a few minutes but oil marketing companies and importer’s rush along with an intraday fall in Yuan spark a rally towards 81.30 levels. Overall, weaker USD, and stronger domestic fundamentals could pave the way for rupee to appreciate towards 80.80 to 80.50 in the near term. On the flip side, 81.30-81.50 will act as a crucial resistance zone for the pair.
Stock to watch
Reliance Industries, ONGC & GAIL (India): The government reduced windfall tax on domestic crude by half to Rs 4,900 per tonne and levy on diesel exports to Rs 6.5 per litre.
Mazagon Dock, Cochin Shipyard & Garden Reach Shipbuilders: The Centre plans to offer cash subsidies, lower taxes and other incentives to aid the shipbuilding industry, news agency Reuters reported citing government sources.
Hero MotoCorp: The bikemaker sold 390,932 units in November 2022, up 12 per cent on a yearly basis.
NMDC: The government invited expressions of interest to divest a 50.79 per cent stake in NMDC Steel.
Yes Bank: RBI allowed Advent and Carlyle to pick up a 9.99 per cent stake each in the lender, on a conditional basis. (Read more)
Corporate actions today
Gujarat Themis Biosyn and Som Distilleries & Breweries going ex-dividend. Shares of Likhitha Infrastructure and Mefcom Capital Markets would go ex-stock split today. Adcon Capital Services would go ex-rights today. (Read more)
Nifty Bank ‘Put’ option data
Major ‘Put’ open interests were seen at 43,200, 43,000 and 42,500 strikes with total open interest of 1,63,684, 1,07,173 and 1,00,305 contracts, respectively. Major ‘Put’ open interest additions were seen at 43,200 and 43,300 strikes which added 83,665 and 39,094 contracts. ‘Put’ unwinding was seen at 43,000 strike, which shed 62,324 contracts.
Nifty Bank ‘Call’ option data
Major ‘Call’ open interests were seen at 43,300, 43,500 and 44,000 strikes with total open interest of 2,04,850, 1,84,214 and 1,64,376 contracts respectively. Major ‘Call’ open interest additions were seen at 43,300 and 43,400 strikes which added 1,06,513 and 71,525 contracts, respectively. ‘Call’ unwinding was seen at 43,000 strike, which shed 66,453 contracts.
Nifty ‘Put’ option data
Major ‘Put’ open interests were seen at 18,800, 18,500 and 18,300 strikes with total open interest of 2,34,840, 1,83,663 and 1,09,589 contracts respectively. Top ‘Put’ open interest additions were seen at 18,800 and 18,850 strikes which added 1,77,533 and 27,028 contracts, respectively. ‘Put’ unwinding was seen at 18,600 strike, which shed 1,06,007 contracts.
Nifty ‘Call’ option data
Major ‘Call’ open interests were seen at 18,900, 18,850 and 19,000 strikes with total open interest of 2,32,759, 2,21,634 and 1,82,455 contracts respectively. Top ‘Call’ open interest additions were seen at 18,850 and 19,200 strikes which added 1,22,800 and 92,358 contracts, respectively. ‘Call’ unwinding was seen at 18,700 strike, which shed 94,945 contracts, NSE data, as on December 1 (3:30 pm), showed.
Oil edges higher
Brent crude futures rose 25 cents, or 0.20 per cent, to $87.13 per barrel, while US West Texas Intermediate crude futures edged 13 cents, or 0.16 per cent higher, to $81.35.
Dow Jones fell 0.56 per cent to settle at 34,395.01. S&P 500 index edged 0.09 per cent lower to end the session at 4,076.57. Nasdaq inched 0.13 per cent higher to close at 11,482.45.
Stocks in F&O ban
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.
Foreign institutional investors (FIIs) sold Rs 1,565.93 crore worth of shares, while domestic institutional investors (DIIs) bought Rs 2,664.98 crore worth of shares on December 1, provisional NSE data showed.
Trends on SGX Nifty indicated a lower opening for the domestic markets. The Nifty Futures on Singapore Exchange also known as the SGX Nifty Futures fell 49 points or 0.26 per cent to trade at 8,926.5.
The benchmark BSE Sensex had climbed 185 points or 0.29 per cent to hit a record closing of 63,284.19 on Wednesday, while the broader NSE Nifty had moved 54 points or 0.29 per cent higher to touch a fresh closing peak of 18,812.50. (Read more)