Among sectoral indexes, Nifty pubic sector bank index rose nearly 1%, continuing its upward trend on the back of improved asset quality of state-run lenders.
India’s top lender State Bank of India was among the top gainers in Nifty 50 index, rising 1%. Cipla and HDFC Life also rose by similar magnitude.
Overnight, Wall Street’s three main indexes rose, aided by gains in technology, energy and healthcare stocks. The MSCI Asia ex Japan index was up 0.39% on Wednesday.
Fed’s minutes are due at 1900 GMT and will be vetted by investors for clues on the pace of interest rate hikes.
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JUST IN | SC dismisses Tata Power’s plea against MERC award: Agencies
Price as on 23 Nov, 2022 11:01 AM, Click on company names for their live prices.
Nykaa dropped nearly 3% to Rs 169.30 in Wednesday’s intraday trade on BSE after Arvind Agarwal, the chief financial officer (CFO) of Nykaa, resigned from his position.
Price as on 23 Nov, 2022 10:59 AM, Click on company names for their live prices.
Which are India’s top dividend yield paying stocks? Watch this!
#ETNOWInsight | Which are India's top dividend play stocks? @Sharad9Dubey joins in with all the details #dividends… https://t.co/rZaUSrjnRr
— ET NOW (@ETNOWlive) 1669179444000
BNP Paribas Arbitrage on Tuesday offloaded shares of IT company Wipro for Rs 186 crore through the open market transactions. According to the block deal data available with the BSE, BNP Paribas Arbitrage sold 48,00,000 shares of the company in two tranches. The shares were disposed of at an average price of Rs 387 per piece, taking the transaction value to Rs 185.76 crore.
Price as on 23 Nov, 2022 10:51 AM, Click on company names for their live prices.
Technical snag on India’s online bond trading platform resolved: Traders
The technical glitch in India’s online bond trading platform has been resolved and normal trading activity has resumed, traders said on Wednesday. Earlier today, the trading platform NDS-OM faced technical glitches and market participants were unable to login into the system, which impacted volumes.
Earnings growth will drive the next leg of upside: Nilesh Shah, Kotak AMC
#BeatTheStreet | "Earnings growth will drive the next leg of upside. It is important to run on actual performance &… https://t.co/h2vW6jlm8U
— ET NOW (@ETNOWlive) 1669176456000
Rupee falls 14 paise to 81.81 against US dollar
The rupee depreciated 14 paise to 81.81 against the US dollar in early trade on Wednesday, tracking a strong American currency and sustained foreign fund outflows. At the interbank foreign exchange, the domestic unit opened at 81.81 against the dollar, registering a loss of 14 paise over its previous close.On Tuesday, the rupee appreciated by 12 paise to close at 81.67 against the dollar.
Shareholders of debt-ridden Vodafone Idea have approved issuing shares worth Rs 1,600 crore to ATC Telecom Infrastructure on a preferential basis, according to a regulatory filing. Vodafone Idea Ltd’s (VIL) board has given its nod to settle Rs 1,600 crore dues to equipment vendor ATC Telecom by converting the due amount into equity, if the amount remained unpaid in 18 months.
Price as on 23 Nov, 2022 10:30 AM, Click on company names for their live prices.
Citigroup maintained its sell rating on Vedanta with a target of Rs 235. Vedanta’s board has announced a 3rd interim dividend.
Price as on 23 Nov, 2022 10:15 AM, Click on company names for their live prices.
Sandip Sabharwal on Nykaa stock
Despite all the bonus machinations of the #Nykaa management stock is moving towards its all time low again. These… https://t.co/GH4WK4xSxx
— sandip sabharwal (@sandipsabharwal) 1669176837000
India’s online bond trading platform faces technical glitches: Traders
There’s an issue from Clearing Corporation of India, an online platform that provides clearing and settlement for transactions for securities, and they are trying to resolve it, a trader at a state-run bank said.
Inox Green Energy Services listed at a discount of 8% at Rs 60 on the National Stock Exchange (NSE) against the issue price of Rs 65, marking a muted debut on Dalal Street. The renewable energy player debuted at a discount of 7% per cent at Rs 60.5 as against the given issue price on BSE. Last heard, ahead of its listing, the shares of Inox Green were exchanging hands at a marginal discount in the grey market.
There is a sudden near-term positive change in global market mood that can influence the Indian market too. The US market construct has temporarily changed to ‘rising equity- falling bond yields – declining dollar index’ that can favour a near-term rally. But this construct can change quickly impacting market sentiments. There are no fundamental triggers that can lift markets to much higher levels. So a consolidation is likely in the Nifty 18050- 18350 range. FIIs have again turned sellers during the last 3 trading sessions and might sell again at higher levels. FII’s market action doesn’t reflect a coherent and consistent strategy. It appears that they are waiting for a clear trend in equity, bond and dollar indices. A clear trend in these indices can set the market direction, but it may not happen soon.
– Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
Fairfax India completes sale of equity interest in IIFL Wealth Management
Price as on 23 Nov, 2022 09:38 AM, Click on company names for their live prices.
Gautam Adani’s flagship, Adani Enterprises, has initiated its much-awaited follow-on public offer (FPO) to raise as much as 20,000 crore ($2.5 billion) from retail and institutional investors, riding on the meteoric 26-fold jump of its stock prices, said multiple persons in the know. The company has mandated Jefferies and ICICI Securities, the people cited said.
Price as on 23 Nov, 2022 09:29 AM, Click on company names for their live prices.
Dharmaj Crop Guard IPO to open on Nov 28; price band fixed at Rs 216-237
The initial public offering (IPO) of Dharmaj Crop Guard will kick off for subscription on Monday, November 28. The company will sell its shares in the range of Rs 216-237 apiece. The issue consists of fresh equity shares worth Rs 216 crore and an offer for sale (OFS) of up to 14,83,000 equity shares by the promoters and existing shareholders of the company. Manjulaben Rameshbhai Talavia, Muktaben Jamankumar Talavia, Domadia Artiben and Ilaben Jagdishbhai Savaliya are the existing investors participating in the OFS.
Stocks in focus
Price as on 23 Nov, 2022 09:21 AM, Click on company names for their live prices.
Opening Bell: Sensex up 170 pts, Nifty above 18,300; Nykaa falls 2%, Hindalco gains 2%
Pre-open session: Sensex surges over 400 points; Nifty above 18,340
Asia shares gain despite Chinese COVID case numbers rising
Asian share markets were mostly in positive territory on Wednesday despite rising COVID-19 cases in mainland China leaving investors uncertain over how much the fresh outbreaks could slow the reopening of the world’s second-largest economy.
SGX Nifty signals a positive start
Nifty futures on the Singapore Exchange traded 69.5 points, or 0.38 per cent, higher at 18,357, signaling that Dalal Street was headed for a positive start on Wednesday.
Tech View: Nifty forms bullish candle
Indicating support based buying, headline equity index Nifty formed an Inside Bar and a Bullish candle on daily frame with long lower shadow.
US stock market: S&P closes at more than two-month high on retail, energy lift
US stocks rallied on Tuesday, with the S&P 500 closing at its highest level in 2-1/2 months, as a sales forecast by Best Buy dampened concerns high inflation would lead to a dismal holiday shopping season while a bounce in oil prices helped lift energy shares.
Oil prices climb on big drop in U.S. crude stocks
Oil prices rose in early trade on Wednesday after industry data showed U.S. crude stockpiles fell more sharply than expected last week, highlighting supply tightness ahead of a looming European Union ban and G7 price cap on Russian oil. Brent crude futures gained 25 cents, or 0.3%, to $88.61 a barrel at 0101 GMT, while U.S. West Texas Intermediate (WTI) crude futures rose 35 cents, or 0.4%, to $81.30 a barrel.
Rupee rises 12 paise to 81.67 against US dollar
Snapping its four-session losing streak, the rupee appreciated by 12 paise to close at 81.67 against the US dollar on Tuesday as the American currency retreated from its elevated levels.
Sensex, Nifty on Tuesday
The 30-share Sensex ended 274 points higher at 61,419 while its broader peer Nifty 50 ended just below the 18,250 level after trading in a narrow range with investors turning extra cautious awaiting fresh cues on the US Federal Reserve’s future rate path.