RIL, banks, IT stocks drag Sensex 188 pts down, Nifty below 19,750

Closing Bell on November 17, 2023: The broader markets, on the other hand, notched gains with the BSE MidCap and SmallCap indices rising 0.27 per cent and 0.36 per cent, respectively

Stock market highlights: Profit booking in financial stocks weighed on the benchmark indices Friday with State Bank of India (SBI), Axis Bank, Bajaj Finance, ICICI Bank, Kotak Bank, Bajaj Finserv, IndusInd Bank, and HDFC Bank settling as top laggards, falling up to 3.6 per cent.

That apart, profit booking in Infosys, Wipro, Tech M, HCL Tech, and Reliance Industries further capped upside.  

The S&P BSE Sensex ended 188 points lower at 65,795 levels, while the Nifty50 ended at 19,732, down 33 points. 

The broader markets, on the other hand, notched gains with the BSE MidCap and SmallCap indices rising 0.27 per cent and 0.36 per cent, respectively.

Among sectors, the Nifty PSU Bank index fell 2.4 per cent, followed by over 1 per cent dip in the Nifty Bank, and Private Bank indices. On the upside, the Nifty Pharma index gained 1 per cent. 

4:06 PM

Tech View :: Key levels to watch on Nifty50

The Nifty has largely traded within a range, showing a predominantly bullish sentiment. Over the past two to three days, a 'buy on dips' approach has been loved by the Street since the Nifty crossed the crucial 19,500 mark.

The trend is expected to stay positive as the Nifty consistently concludes trading sessions above the critical moving averages. Support levels are situated at 19,630/19,500 on the lower end, while resistance is placed at 19,850/ 20,000 on the higher end.

Views by: Rupak De, Senior Technical analyst at LKP Securities.

 

3:48 PM

Comment :: 'Drop in oil prices, US yields to support sentiment'

The RBI's action to raise risk weights for unsecured loans dampened banking stocks and caused a temporary disruption in the broader indices' resurgence. Despite this, a positive undercurrent prevails, buoyed by the conclusion of a robust earnings season.

Investors are awaiting eurozone inflation data later today, which is expected to show a softening trend. Sharp drop in oil prices, and the moderation of US yield will help the market to sustain buoyancy in the short-term.

Views by: Vinod Nair, Head of Research at Geojit Financial Services 

3:45 PM

Currency check :: Rupee ends 3 paise weaker

3:44 PM

SmallCap Heatmap :: Index ends 0.36% higher; check top gainers and losers of the day

3:41 PM

MidCap Heatmap :: Index ends 0.27% higher; check top gainers and losers of the day

3:40 PM

Sectoral trends :: PSBs suffer the most as RBI reveals new diktat on unsecured loans

3:38 PM

Sensex Heatmap :: Bank stocks end as top laggards, consumer stocks rally

3:37 PM

CLOSING BELL :: Nifty holds 19,700

3:36 PM

CLOSING BELL :: Sensex sinks 188 pts amid a drop in bank stocks

3:25 PM

Global check:: US stock futures marginally up; UK rally up to 1%

Source: Investing.com

3:15 PM

ALERT:: Lupin gets US FDA nod for Ganirelix Acetate Injection; stock flat

Lupin today in an exchange filing announced that it has received approval from the United States Food and Drug Administration (US FDA) for its Abbreviated New Drug Application for Ganirelix Acetate Injection, 250 mcg/0.5 mL Single-Dose Prefilled Syringe, to market a generic equivalent to the reference listed drug (RLD), of Ganirelix Acetate Injection, 250 mcg/0.5 mL of Organon USA LLC.

 

Ganirelix Acetate Injection had estimated annual sales of $84 million in the US (IQVIA MAT September 2023), the release added.

3:07 PM

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2:59 PM

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2:50 PM

ALERT:: Brigade to develop 2 mn sq. ft. of residential housing space in Bengaluru; stock up 3%

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2:37 PM

SBI to soon launch Yono Global app in Singapore and US, says official

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