Fag-end buying lifts Sensex 204 pts, Nifty near 19,900; Adani stocks zoom

Closing Bell on November 28, 2023: Adani Enterprises (up 9 per cent), Adani Ports (5.5 per cent), BPCL, Tata Motors, Coal India, ONGC, Bajaj twins were the top gainers

Stock market highlights: Strength returned to Dalal Street in the fag-end of the session as helped markets end higher on Tuesday. The S&P BSE Sensex, after oscillating on either sides of the flat line, jumped 204 points, or 0.31 per cent, to end at 66,174 levels.

The Nifty50, on the other hand, settled 95 points, or 0.48 per cent, higher at 19,890 led by Adani Enterprises (up 9 per cent), Adani Ports (5.5 per cent), BPCL, Tata Motors, Coal India, ONGC, Bajaj twins, Hero MotoCorp, Ultratech Cement, Hindalco, Britannia, and Axis Bank.

The Sensex hit an intraday high of 66,256, while the Nifty hit a high of 19,917 during the day.

In the broader markets, the BSE MidCap index gained 0.30 per cent, while the BSE SmallCap eked out gains of 0.06 per cent. 

Among sectors, Adani Enterprises lifted the Nifty Metal index 1.8 per cent, followed by the Nifty PSU Bank index (up 1.35 per cent), and the Nifty Auto index (up 0.9 per cent). On the downside, the Nifty Pharma index slipped 0.34 per cent.

3:58 PM

Comment :: 'Buy relatively strong stocks on dips'

Nifty has finally surpassed the hurdle at 19,850 and now we expect the index to inch toward a new high.

Needless to say, the quantum of rise would depend upon the performance of the banking, which has also reached closer to its immediate hurdle.

We reiterate our view to continue with the “buy on dips” approach and prefer stocks with relatively higher strength for fresh buying.

Views by: Ajit Mishra, SVP - Technical Research, Religare Broking

3:56 PM

Tech View :: 'Nifty shouldn't breach 19,750 for bullish bias to continue'

Nifty50

The broad range of 19,650 – 19,850 has been decisively broken on the upside which puts the bulls in a position of strength.

We expect the positive momentum to continue over the next few trading sessions, and the next psychological level stands at 20,000 with a potential to stretch higher till 20,200.

On the downside, 19,770 – 19,750 shall act as crucial support and should not be breached on the downside for the positive momentum to continue.

 

Bank Nifty

Bank Nifty witnessed a continuation of the positive momentum from the previous week. it continued to inch higher and has closed above the 40-day moving average (43,834) which is a sign of strength. On the upside, we expect the Bank Nifty to target levels of 44,500 from a short-term perspective.

Views by: Jatin Gedia – Technical Research Analyst at Sharekhan by BNP Paribas

3:43 PM

SmallCap Heatmap :: Index gives up gains, ends flat with positive bias

3:41 PM

MidCap Heatmap :: Index gains 0.3%; check top gainers and loser of the day

3:40 PM

Sectoral trends :: Metals, PSBs lead market rally on Tuesday

3:37 PM

Nifty Heatmap :: Top large-cap gainers and losers of the day

3:36 PM

CLOSING BELL :: Nifty ends near 19,900

3:35 PM

CLOSING BELL :: Sensex advances 200 pts in late deals

3:28 PM

Proxy advisory firm urges Raymond's directors to probe assault allegations

Raymond's shares fell on Tuesday for a tenth straight session and have lost over 16% during the period. The share slump started on Nov. 13, when Singhania announced separation from his wife on social media platform X, formerly known as Twitter. READ MORE

3:17 PM

OMCs extend post earnings rally; HPCL, BPCL, IOCL soar up to 39% in 1-mnth

Regardless of the prevailing uncertainty on refining and marketing margins, our analysis suggests that even in current scenario, margin mix broadly remains on a strongly upward trajectory for HPCL, analysts at ICICI Securities said in result update. READ MORE

3:04 PM

ALERT:: Adani Total Gas launches Green Hydrogen project at Ahmedabad; stock locked at upper limit

Adani Total Gas, co-promoted by Adani Group and TotalEnergies, announced the initiation of a pioneering 'Green Hydrogen Production and Blending Pilot Project' at Ahmedabad in an exchange filing today.

2:52 PM

Arbitrage vs liquid funds: Why the former has become an investor darling

India's mutual fund industry  saw major net inflows in Arbitrage and broad-based equity funds in the second quarter of fiscal year 2024, revealed a study by  Motilal Oswal AMC recently. READ MORE

2:39 PM

Market check:: Sensex at day's high, up 150 points

2:29 PM

ALERT:: Innovators Facade wins Rs 36 cr order; stock hits 10% upper limit

Innovators Facade Systems in an exchange filing said the company has received work order for design, develop, supply, fabrication and installation of facade work of MTB 06, Bengaluru for Rs 36.53 crore excluding taxes.

 

The stock traded in the SME segment.

2:17 PM

DB Realty promoters sell nearly 3% for Rs 301 cr; reinfuse capital

The promoter group has infused back a substantial portion of the proceeds (net of tax) into the company as repayment of related party transactions and unsecured interest free loan, it added. READ MORE