Nifty MidCap 100 and Nifty SmallCap 100 outperformed their larger peers, rising 0.34% and 0.47%, respectively.
The slide followed a decline in Asian markets due to worries about COVID-19 management in the world’s second-largest economy, after demonstrators and police clashed in Shanghai on Sunday. The MSCI Asia ex-Japan index shed 1.45%.
Fears about a COVID-led dent in China’s economic growth also weighed on commodities, with Brent crude slipping to $83 per barrel.
Foreign institutional investors bought a net 3.69 billion rupees ($45.17 million) worth of equities on Friday, while domestic investors sold a net 2.96 billion rupees ($36.24 million) worth of shares, as per provisional NSE data.
Among individual shares, Paytm fell 5.2% after the Reserve Bank of India declined to allocate a payment aggregator licence to the company.
Shares of VA Tech Wabag rose 4.47%, the most since Nov. 15, after signing an agreement with Asian Development Bank towards raising 2 billion Indian rupees through unlisted non-convertible debentures.
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Shares of Hero MotoCorp rose nearly 4% to Rs 2,804 in Monday’s intraday trade on BSE after the company said that it will raise the prices of its motorcycles and scooters by up to Rs 1,500, with effect from December 1, 2022 due to inflationary cost pressures.
Price as on 28 Nov, 2022 11:26 AM, Click on company names for their live prices.
Aptus Value Housing Finance India declares dividend of Rs 2 per share
Price as on 28 Nov, 2022 11:16 AM, Click on company names for their live prices.
The global brokerage firm has initiated coverage on Container Corporation of India (Concor) with a target price of Rs 620. Delayed completion of freight corridor to JNPT will impact volume growth, it said. Market share loss and pricing pressure would offset DFC gains in the near term, it added. “Disinvestment of the government’s stake will be the key catalyst for the company.”
Price as on 28 Nov, 2022 11:13 AM, Click on company names for their live prices.
Having consolidated for several days in the 18430-600region, the stage is now set for a decisive move. While Visibility past 18800-19000 is limited as of now, inability to float above 18470 will rekindle fears of a 17850 drop.We will play this, today with downside marker placed at 18320, allowing bulls a window for regrouping.
– Anand James – Chief Market Strategist at Geojit Financial Services
Hero Moto, TVS among top performers from the PSU space
Price as on 28 Nov, 2022 10:41 AM, Click on company names for their live prices.
WATCH | CHRIS WOOD ON STOCK MARKET, US RECESSION & MORE
#TheGlobalView | Chris Wood of @Jefferies says -There is a growing fear of recession in the U.S. -Earnings down… https://t.co/xLhqlM3h2I
— ET NOW (@ETNOWlive) 1669609561000
Where to bet in this market? Sandip Sabharwal explains
Be bullish on commodity consumers which are domestically demand linked companies Avoid commodity and speciality che… https://t.co/ZOLPtdSL5G
— sandip sabharwal (@sandipsabharwal) 1669605357000
Shares of VA Tech Wabag rose 4.47%, the most since Nov. 15, after signing an agreement with Asian Development Bank towards raising 2 billion Indian rupees through unlisted non-convertible debentures.
Price as on 28 Nov, 2022 10:09 AM, Click on company names for their live prices.
Paytm rebounded after falling 5.2% in trade earlier. Reserve Bank of India last week declined to allocate a payment aggregator licence to the company.
Price as on 28 Nov, 2022 10:07 AM, Click on company names for their live prices.
Dharmaj Crop Guard IPO opens today: Should you bet on this agrochem player?
The Rs 251 crore initial public offering (IPO) of Dharmaj Crop Guard kicks off on Monday, November 28 and will run till Wednesday, 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, with existing promoters and shareholders offloading 14,83,000 equity shares worth Rs 35.15 crore via offer for sale (OFS). Bids can be placed in the lot size of 60 shares.
Gateway Distriparks says Income Tax dept conducted survey at office, some locations
Price as on 28 Nov, 2022 10:03 AM, Click on company names for their live prices.
Sensex reverses losses, jumps 100 points
IRDAI approved acquisition of residual 5.17% stake held by MSI in Max Life at Rs 85/share
#StocksInNews | IRDAI approved acquisition of residual 5.17% stake held by MSI in Max Life at Rs 85/share #MaxLife… https://t.co/treovwoJq2
— ET NOW (@ETNOWlive) 1669604884000
There are two positives which can impart resilience to the ongoing rally in the market: One, the steady decline in crude which has taken Brent crude to below $82. Two, the steady FPI buying (Rs 31630 crores so far in November) particularly in fundamentally strong segments like financials, IT, autos and capital goods. These positives notwithstanding markets are likely to be in wait and watch mode for the Fed chief’s speech on Wednesday. Any hawkish statements from Powel will be negative since markets have factored in slower rate hikes taking the terminal rate around 5%. The high futures premium is indicative of the underlying bullishness in the market.
– Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
PNB, BHEL, Rail Vikas Nigam among most active stocks on NSE
Price as on 28 Nov, 2022 09:22 AM, Click on company names for their live prices.
Opening Bell: Sensex falls 130 points, Nifty below 18,500; Hindalco sheds 2%, MSTC rises 5%
Pre-open session: Sensex slips over 100 points; Nifty below 18,460
Asian stocks skid as China’s COVID protests roil sentiment
Asian stocks weakened on Monday as rare protests in major Chinese cities against the country’s strict zero-COVID policy raised worries about management of the virus in the world’s second-largest economy.
SGX Nifty signals a negative start
Nifty futures on the Singapore Exchange traded 70.5 points, or 0.38 per cent, lower at 18,590.50, signaling that Dalal Street was headed for a negative start on Monday.
Tech View: Nifty forms bullish engulfing pattern on weekly chart
Headline equity index Nifty on Friday formed a small negative candle with a minor lower shadow on the daily charts and a bullish engulfing pattern on the weekly chart.
Tokyo shares softer in early trade
Tokyo shares drifted lower Monday morning as the global high-tech sector faces pressure. The benchmark Nikkei 225 index eased 0.31 percent, or 86.81 points, to 28,196.22, while the broader Topix index fell 0.16 percent, or 3.17 points, to 2,014.83.
Nasdaq ends down as investors eye Black Friday sales, China infections
The Nasdaq closed lower on Friday with pressure from Apple Inc in a subdued holiday-shortened trading session for Wall Street, as investors watched Black Friday sales and COVID-19 cases in China.
Oil drops more than $1 as China’s COVID protests fuel demand worries
Oil futures fell more than $1 early on Monday as protests in top importer China over strict COVID-19 curbs fuelled demand worries, while investors remained cautious ahead of an agreement on a Western price cap on Russian oil and an OPEC+ meeting.
Rupee closes almost flat 81.71 against USD on month-end dollar demand
The rupee settled almost flat at 81.71 against the US currency on Friday as month-end dollar demand from oil importers offset gains from a weak greenback and forex inflows.
Sensex, Nifty on Friday
The 30-share Sensex ended 21 points higher at 62,258, while its broader peer, Nifty50, ended above the 18,500 mark.
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