Business News›Traders' Diary: Nifty has strong support at 12,800 level
Economic Times | 27 Nov, 2020 | 09.07AM IST
Traders' Diary: Nifty has strong support at 12,800 level
Financials and RIL lead the market rally as 26 of 30 Sensex stocks end the day in the green
!1 New UpdateClick here for latest updates
Lakshmi Vilas Bank writes down tier 2 bonds worth Rs 320 crore
The development took place Thursday, a day before LBV's amalgamation with DBS Bank India, even as promoters and shareholders of the old generation lender moved Bombay High against the decision of extinguishing their equity investment.
BSE-NSE bulk deals: Smallcap World Fund buys 23.65 lakh shares of Tube Investments
Smallcap World Fund Inc bought 23.65 lakh shares of Tube Investments of India at Rs 841 per share in a bulk deal on Thursday. On the other hand, HDFC MF- HDFC Small Cap Fund sold 23.50 lakh shares of the company at the same price.
Ahead of Market: 12 things that will decide stock action on Friday
Shrikant Chouhan, Executive Vice President (Equity Technical Research), Kotak Securities said, “On the downside, 13,000 and 12,930 would be support points.
Mahindra First Choice Services to become a subsidiary of TVS Automobile Solutions
MFCSL is a pan-India chain of multi-brand car and two-wheeler service workshops that also has a presence in the private label spare parts segment for leading brands.
Vistra ITCL invokes Future Retail shares
As many as 3,58,15,889 equity shares of Future Retail pledged with Vistra have been invoked on September 10 and November 24 in capacity as a debenture trustee in order to secure the debentures issued by Future Capital Investment Pvt Ltd and Future Corporate Resources Ltd, Vistra ITCL said in a letter to BSE.
Market Movers: Sugar stocks turn sweeter; over 20 stocks send ‘buy’ signal on MACD
As many as 25 components in the Sensex pack ended in the green with Tata Steel gaining the most 5.16 per cent.
F&O: Every small decline is being bought into; VIX slips
Nifty has to hold above 12,900 level to witness a bounce towards 13,150 and then 13,250 levels, while on the downside support exists at 12,800 level.
Tech View: Nifty rebound suggests strong appetite for equities at lows
Analysts said while every fall is being bought into, market participants are turning indecisive at the higher levels.
Consumption vs real estate stocks: Ridham Desai reveals his sectoral bets
Industrials, real estate and infrastructure related stocks will do very well in the coming months as government spending kicks in and demand comes back, says Ridham Desai, MD, Morgan Stanley in an exclusive interview to ET. India, he says, could be in a sweet spot, if the dollar continues to decline and will help the economy step up gears.
Listed companies post record 171% jump in Q2 profits
This is the highest profit made by all listed companies in any quarter and 30.9% higher than the earlier best record of Rs 1,18,100 crore in the March 2014 quarter for 4,854 listed companies, the Centre for Monitoring Indian Economy said.
Sensex bounces back 432 points: Key factors behind market rally
Buoyed by massive FII buying and supported by positivity over vaccine development, indices are amidst a record rally and surged nearly 12 per cent in November.
This is how the 30-pack Sensex moved in today's session. It touched a high of 44,361.78 and a low of 43,582.40 to finally settle at 44,259.74
CLOSING BELL: Sensex rebounds nearly 700 pts from day's low, ends 432 pts higher; Nifty settles Nov F&O series at 12,987
- Financials and RIL lead the market rally
- 26 of 30 Sensex stocks end the day in the green
- Index contributors: HDFC Bank, HDFC, Bajaj Fin, Kotak Bank, RIL
- Top Index gainers: Tata Steel (5.30%), Bajaj Finance (3.46%), Bajaj Auto (3.26%)
- Top Index losers: ONGC (0.68%), Maruti (0.63%), TechM (0.45%)
- All BSE sectoral indices except oil and gas end the day in the green
- S&P BSE METAL biggest sectoral gainer, up 4.13%
- S&P BSE OIL & GA biggest sectoral loser, down 0.23%
- Volume toppers: Bajaj Finance, RIL, HDFC Bank, SBI, Tata Steel
Sensex jumps 450 points, Nifty nears 13,000; financials lead gainers. Here are the top index contributors
Here are the top gainers and losers in the pharma space
Price as on 26 Nov, 2020 03:09 PM, Click on company names for their live prices.
Sugar stocks rally up to 14%; here’s why
Magadh Sugar & Energy traded nearly 14 per cent higher at Rs 114.80. KCP Sugar, Indian Sucrose, Uttam Sugar, Mawana Sugar and Bajaj Hindusthan were also up between 9 per cent and 11 per cent at around 2.30 pm (IST). On the other hand, the benchmark BSE Sensex traded 0.46 per cent up at 44,031.
Edelweiss Fun, L&T Fin and Shriram Fin up 5% each. Here are the top gainers in the NBFC space
Price as on 26 Nov, 2020 02:42 PM, Click on company names for their live prices.
Vedanta Resources sounds out bondholders on debt extension
Pressures are mounting at London-based Vedanta Resources after the delisting flopped, given it would have helped the holding company more easily access cash at the unit.
Here are the top gainers in the tourism and hospitality sector
Price as on 26 Nov, 2020 02:01 PM, Click on company names for their live prices.
Advance-decline ratio at 3:2 on BSE
All telecom stocks in the green; Voda Idea biggest gainer
Price as on 26 Nov, 2020 01:21 PM, Click on company names for their live prices.
Tesla's upcoming S&P 500 debut fuels 'crazy' trading volume
If you traded a stock in the past week, there's a fair chance it was Tesla. Shares in the electric car maker led by CEO Elon Musk rose almost 3% on Wednesday and have now surged 40% since Nov. 16, when it was announced Tesla would join the S&P 500 in December. Investors rushed to buy shares ahead of index funds that will be forced to acquire over $50 billion of its shares.
Tyre stocks in the red, down up to 2%
Price as on 26 Nov, 2020 12:20 PM, Click on company names for their live prices.
Sensex extends losses, down over 200 points
RBI Governor says
- Approach has been to contain Covid impact on economy
- Rupee sharply depreciated but RBI acted swiftly
- Consulative approach has given depth to policy making
Indian economy has shown stronger than expected recovery; need to watch sustainability of demand after festive season: Shanktikanta Das, RBI Governor
Downside risk to global economy continue due to resurgence of Covid cases in India, world.
- Shaktikanta Das, RBI Governor
InterGlobe Aviation declines 4% as Citi downgrades stock to 'sell'
Shares of InterGlobe Aviation fell 4 per cent in Thursday's trade after foreign brokerage Citi downgraded the stock to 'sell' from 'neutral' with a target of Rs 1,400. The brokerage said that the market share of the aviation company might have peaked. It believes that there are many imponderables regarding sustainability of the September quarter drivers.
Top 5 gainers & losers in the realty space
Price as on 26 Nov, 2020 11:14 AM, Click on company names for their live prices.
After a long time traders were struck by nervousness on Wednesday when the Nifty broke down over 200 points from the high. The support of 12,800 has still not been violated and hence traders can continue holding their positions with a trailing stop loss. If we break 12,800, we could drop further to 12,500. If we resume the existing uptrend from the current level, we can head to 13,200.
- Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments
Siemens surges 7% on September quarter results
Shares of Siemens surged 7 per cent in Thursday's trade after the company reported a 4.7 per cent fall in net profit at Rs 333 crore for the September quarter, mainly on higher expenses due to lockdown. The profit was impacted due to expenses incurred during the lockdown period amounting to Rs 285 crore, the company said.
Top 10 losers on NSE; GE Power, Future Lifestyle down 5% each
Price as on 26 Nov, 2020 10:16 AM, Click on company names for their live prices.
Benchmark indices in the red
Both the benchmark indices slipped into the red amid losses in index heavyweights Infosys and RIL. Nifty slipped below the 12,850 level while Sensex was down 200 points from day's high.
Sensex highly volatile, swings wildly within 20 mins of trade
Bitcoin falls 6% in Asian trade
Bitcoin dropped to $17,657.53 on Thursday, down 5.74 percent on the day, after losing $1,074.9 from its previous close. Bitcoin, the world’s biggest and best-known crypto-currency, has risen 358.6% from the year’s low of $3,850 on March 13.
YES Bank, Voda Idea, ONGC among most active stocks on NSE
Price as on 26 Nov, 2020 09:21 AM, Click on company names for their live prices.
OPENING BELL: Sensex gains 150 points, Nifty above 12,900; M&M rises 2%, L&T 1%
Pre-open session: Sensex falls 60 points, Nifty below 12,850
SGX Nifty signals positive start
Nifty futures on the Singapore Exchange traded 58 points, or 0.45 per cent higher at 12,972,in signs that Dalal Street was headed for a positive start on Thursday.
Tech View: Nifty recovery looks vulnerable
Nifty50 saw steep selling pressure after hitting a record high on Wednesday, as the index ended up forming a 'Bearish Engulfing' candle on the daily chart. For now, any recovery on the index will be vulnerable to selloffs, said analysts. Chandan Taparia of Motilal Oswal Securities said that the index needs to hold above 12,850-12,900 to make an attempt for 13,000 level. "A hold below the same, could send the index towards 12,800 and 12,750 levels," Taparia said.
Oil prices rise for fifth day
US oil rose for a fifth day on Thursday as a surprise drop in crude inventories extended a rally driven by hopes that vaccines would end the coronavirus pandemic and revive fuel demand. Brent was up by 20 cents, or 0.4 per cent, at $48.81 a barrel, after rising around 1.6 per cent in the previous session. West Texas Intermediate crude was up by 14 cents, or 0.3 per cent, at $45.85, having gained 1.8 per cent on Wednesday.
Asian markets fall in early trade
Asian shares dipped slightly on Thursday as the hot run up in global markets took a breather, with investors switching their focus from vaccine hopes to disappointing US jobs data and new COVID-19 lockdowns. Australia's S&P/ASX 200 dipped 0.12 per cent, while Japan's Nikkei 225 slipped 0.16 per cent.Hong Kong's Hang Seng index fell 0.09 per cent. E-mini futures for the S&P 500 fell 0.10 per cent.
US stocks end mostly lower
US stock indexes closed mostly lower Wednesday, giving up some of their recent gains, on a day of mostly quiet trading ahead of the Thanksgiving holiday.On Wednesday, the S&P 500 fell 5.76 points, or 0.2 per cent, to 3,629.65. The Dow Jones Industrial Average gave up 173.77 points, or 0.6 per cent, to 29,872.47. The Nasdaq gained 57.62 points, or 0.5 per cent, to 12,094.40.
FIIs turn net positive for 2020
With over Rs 55,000 crore net purchase of equities, foreign institutional investors (FIIs) have turned net buyers for the year 2020. So far in November, FIIs have made net purchase worth Rs 55,576.84 crore including Rs 24.20 crore on Wednesday, the highest ever in a month.
Rupee rises 10 to 73.91 against US dollar
Rising for the fourth straight session, the rupee appreciated by 10 paise to close at nearly a month high of 73.91 against the US dollar on Wednesday as positive development on the coronavirus vaccine front enthused investor sentiment. At the interbank forex market, the domestic unit opened at 73.98 against the greenback and witnessed an intra-day high of 73.88 and a low of 74.02.
Sensex, Nifty on Wednesday
Equity benchmark Sensex tumbled 695 points on Wednesday, tracking heavy profit-booking in index majors HDFC Bank, Infosys and Kotak Bank amid mixed cues from global markets. After touching a lifetime high of 44,825.37 in opening session, the 30-share BSE index ended 694.92 points or 1.56 per cent lower at 43,828.10. Similarly, the broader NSE Nifty touched a record intra-day peak of 13,145.85, before ending 196.75 points or 1.51 per cent down at 12,858.40.
Good morning, dear reader! Here's something to kickstart your trading day
