 "Share Market Today: NTPC Green IPO; Waaree Energies Q2 nos & Fund Flows")
Stock Market Today Tuesday, Nov 19: Benchmark Nifty and Sensex will likely track mixed global cues in Tuesday's trading. At 6:35 AM, GIFT Nifty futures were up 30 pts at 23,544, indicating a flat to positive start.
In the previous session, Sensex fell 0.31 per cent to end at 77,339.01, while the Nifty slipped 0.34 per cent to settle at 23,453. The stock markets will remain closed tomorrow, Nov 20, due to the Maharashtra Assembly Election.
Domestic cues
Investors will focus on the NTPC Green IPO and the remaining Q2 earnings as the second quarter of FY25 results season nears its conclusion. Vardhan Capital Fin & Brahmaputra Infra will announce their Q2 nos today.
The recently-listed Waaree Energies posted its Q2 nos. on Monday. Its profit rose 14.7 per cent Y-oY to Rs 361.6 cr, while its revenue grew marginally (1 per cent) to Rs 3,574.4 cr.
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IPO corner
Brokerages remained bullish on the NTPC renewable energy arm, NTPC Green Energy IPO, which is set to open for public subscription on Nov 19. READ MORE
Zinka Logistics IPO (Mainline) and Onyx Biotec IPO (SME) will see their allotment today.
FII, DII
FIIs sold shares of Rs 1,403.40 crore on Nov 18, while DIIs bought shares of Rs 2,330.56 crore.
Commodity check
Oil prices rallied on Monday, with gains exceeding $2 per barrel. Brent crude futures closed at $73.30 per barrel, up 3.18 per cent. Meanwhile, gold prices rebounded sharply after a six-day losing streak. Spot gold edged higher to $2,613.23 per ounce, while US gold futures climbed 1.7 per cent to settle at $2,614.60.
Global markets
Asian markets opened higher on Tuesday, reflecting gains on Wall Street and optimism surrounding an investment summit in Hong Kong, where key Chinese policymakers are set to speak.
In Hong Kong, the global financiers summit will see speeches from influential Chinese leaders, including Vice Premier He Lifeng. The summit will highlight discussions on China’s economic and financial strategies, with participation from senior officials overseeing key regulatory and financial institutions.
Meanwhile, Nikkei and Topix advanced 0.68 per cent and 0.65 per cent, respectively. ASX 200 rose 0.53 per cent. Kospi and Kosdaq traded near the flatline.
Wall Street
US equities ended Monday’s session mixed, with the Nasdaq recovering from last week’s losses thanks to strong gains in Tesla shares. The Nasdaq rose 0.6 per cent; S&P 500 added 0.39 per cent. Dow Jones, meanwhile, fell 0.13 per cent
Here's how analysts are assessing today's (November 19) trading session:
Shrikant Chouhan, head equity research, Kotak Securities
For the day traders now, 23,350/76,950 would act as a key support zone. If the market succeeds to trade above the same, then it could bounce back till 23,600/78,000. Further upside may also continue which could push the market till 23,700/78,200. On the flip side, fresh selloff is possible only after dismissal of 23,350/76,950. Below which, it could slip till 23,200-23,175/76,500-76,400.
Hrishikesh Yedve, AVP, technical and derivatives research at Asit C Mehta Investment
Nifty has decisively broken its 200-Days exponential moving average (DEMA) support level of roughly 23,540. Thus, 23,540-23,550 will serve as an immediate barrier for the index. On the downside, the 50-Weekly simple moving average (WSMA) is placed near 23,300 levels, which will serve as short term support for the index. Overall, the short-term trend is down, but we expect the index to consolidate in the narrow band of 23,300-23,600.
Rupak De, senior technical analyst, LKP Securities
On the daily chart, the index has been trading below the 200-day moving average (DMA) for the past two sessions. The RSI has entered the oversold zone, accompanied by a bearish crossover. While the overall chart setup remains weak, the selling pressure appears to have eased following a prolonged correction. In the short term, the index may recover towards 23,700–23,800. On the downside, support is positioned at 23,200–23,300.