MarketBuzz

Indian benchmark indices, Sensex and Nifty 50, are likely to start the trading session of November 28 in the green, after Asian stocks edged higher in morning trade.

In the previous session, the domestic market ended flat with the Nifty 50 closing below 19,800.

All markets have been consolidating for the past few sessions. There has been an absence of major events, moreover, an extended weekend likely kept the range bound momentum. This week, the market might pick up with the GDP data from both the US and India due later this week.

In the overnight session, US’ Wall Street witnessed a quiet close. Asian stocks edged higher in morning trade while the dollar was at its lowest in three months as investors remained convinced the Federal Reserve was done with its rate-hike cycle and looked ahead to a crucial inflation report later this week.

The market will continue to watch out for crude prices that saw some correction with the commodity trading between $79 to $80 per barrel, ahead of the OPEC meeting.

The GIFT Nifty indicated a bit of a quiet start with a positive bias.

Meanwhile, the Finance Ministry and Reserve Bank of India (RBI) officials are set to meet banks, and payment aggregators later in the day over cyber frauds, sources earlier told CNBC-TV18. The meeting will be chaired by the DFS Secretary.

Stocks to watch: Maruti Suzuki, Paytm, Eicher Motors, HDFC Bank, Fortis Healthcare, Raymond, PB Fintech among others

Tune in to the Marketbuzz Podcast for more cues

In the wake of a subdued trading session that left markets virtually unchanged, investors are gearing up for a quiet start today, with early indicators suggesting a minimal opening shift. The previous day concluded with markets moving within a narrow range of approximately 70-80 points.

Notably, U.S. markets remained closed yesterday in observance of Thanksgiving and will witness an early closure today, translating to a truncated half-day of trading. This factor is expected to influence global sentiments, including Asian markets.

However, the spotlight is currently on Japan's economic performance, specifically the announcement of a 2.9% core inflation rate for October, surpassing the 2.8% recorded in September.

In terms of market flows, both foreign and domestic investors were net buyers in the cash market, setting the tone for today's proceedings.

Investors are also keeping a keen eye on the Tata Tech IPO, with subscription rates nearing 15 times, and the Adani group, particularly Adani Enterprises, as the Supreme Court is set to hear the Adani Hindenburg case today.

Pharmaceutical stocks, are attracting attention due to a tentative U.S. FDA approval for canagliflozin tablets. 

Other stocks under scrutiny include Siemens, facing a service tax demand of 23.7, and Indian Hotels, where sources indicate a data breach compromising the information of nearly 15 lakh users in Taj hotels.

In the energy sector, NMDC has announced the pricing of its QIP size ₹1000 crore issue at ₹5264 per share, representing a 7.4% discount to the closing price.

As the market prepares for the final trading session of the week, investors are advised to monitor these developments closely. Furthermore, with Indian markets closed on Monday, anticipation is building for a dynamic end to the trading week.

Indian benchmark indices, Sensex and Nifty 50, are likely headed for a mildly positive start in the trading session of November 23, as indicated by the GIFT Nifty.

Asian shares were in morning trade with markets holding onto their gains for the week as confidence grows that interest rates globally will head lower next year, while oil prices fell on the prospects for smaller-than-expected output cuts by OPEC+.

Oil prices fell by more than 1% this morning, extending losses from the previous session, after OPEC+ postponed a ministerial meeting, leading to speculation that producers might cut output less than earlier anticipated. Brent futures were down $1.04, or 1.3%, at $80.92 a barrel.

Meanwhile, in the Indian market, Nifty 50 managed to recover 100 points from the day's low closer to 19,700. This morning, the GIFT Nifty suggests a start above 19,800.

Four new ipos opened up for subscription in the previous session

Stocks to track: Honasa Consumer, TVS Motors, Bajaj Auto, Infosys, IndiGo and more

Tune in to the Marketbuzz Podcast for more cues

The GIFT NIFTY is indicating a calm opening for today's trading session, influenced by the mild cuts observed in US markets. The Dow and the S&P 500 experienced a slight downturn of about 0.2%, while the NASDAQ faced a 0.6% dip. Notably, the trading range in the Indian markets has been contracting, with the Nifty trading within a band of just 75 points yesterday, ranging from 19,754 to 19,829.

This narrowing trend is evident when comparing recent days; the Nifty's range was 86 points the day before and 138 points last week on Friday. This trend reflects a consolidation phase in the market.

Investors should keep a close eye on Tata Consultancy Services (TCS) as the company is set to make an exceptional provision of $125 million in its Q3 earnings related to a lawsuit dating back to 2014. This provision will impact the stock performance. Additionally, Tata Steel is planning to raise ₹7,550 crore through a Qualified Institutional Placement (QIP) with an indicative price of ₹1,29.1, offering a 13.4% discount to the current market price.

Another stock of interest is Titan Company Limited, as the Competition Commission of India has approved the acquisition of an additional 27.2% share capital of Carrick Lane by Titan. Lastly, Allcargo Logistics may attract attention due to lower year-on-year and month-to-month volumes observed in October. These factors will likely contribute to the market's opening dynamics, shaping the early trading sessions.

Tune in to the Marketbuzz Podcast for more news and cues ahead of today's session

Indian benchmark indices, Sensex and Nifty 50, are likely to open higher on November 21, tracking global peers, amid expectations that US interest rates have peaked. India's GIFT Nifty was up 0.31% at 19,803 as of 8:14 am, above the benchmark Nifty 50's November 20 close of 19,694.

The previous session was a range bound one but the mid cap index hit a record high crossing 42,000. Though Bank Nifty was flat, financials will continue to be in focus as the Reserve Bank of India (RBI) has tightened norms for consumer credit.

Meanwhile, Brent crude is at around $82 per barrel, which would be a slight negative for the year in markets.

In terms of the global setup, the US market continued to gain with the NASDAQ hitting a 22-month high. Microsoft was in focus after hitting a fresh 52 week high. This is after Sam Altman has been announced to lead a new AI team at Microsoft. Asian markets too traded largely higher in morning trade.

Also, Federal Open Market Committee (FOMC) minutes will be watched out for later in the day.

Stocks to watch: ABB India, Titagarh Rail Systems, HDFC Life Insurance, Karnataka Bank, Tata Power and more 

Tune in to the Marketbuzz Podcast for more cues

Indian benchmark indices, Sensex and Nifty 50, are poised to open relatively flat yet leaning towards a positive trajectory on November 17. This optimistic outlook is fueled by expectations of the US Federal Reserve concluding rate hikes and a decline in crude oil prices.

However, the significant volatility that the market saw in the previous session is likely to extend on November 17 as well.

Notably, the focus will be on financial stocks — both banking and non-banking sectors. This follows the Reserve Bank of India's move to tighten norms for consumer credit, urging banks and NBFCs to assign a higher risk weight for unsecured personal loans. This strategic measure aims to instill a sense of caution among lenders regarding such advances, with a 25 percentage point increase in risk weight on unsecured consumer loans.

Meanwhile, the overnight session on Wall Street concluded with US indices displaying a mixed performance, largely near the flat line.

As far as the Indian economy is concerned, crude prices have seen a further sharp correction. Crude prices were hovering around the $95 per barrel mark a few months ago. However, in the previous session, there was a 5% dip, bringing Brent futures to approximately $77 per barrel in morning trade.

Stocks like TVS Motor Company, Axis Bank, JSW Infrastructure, JSW Steel, and other financial stocks will be in focus.

Tune in to the Marketbuzz Podcast for more cues

Indian benchmark indices, Sensex and Nifty 50, are likely to make a flat opening with an inclination towards the positive trend on November 16. GIFT Nifty was up 0.17% at 19,751.50 as of 8:13 am IST, compared to the benchmark Nifty 50's previous close of 19,675.45.

After a gap up opening in the previous session, Indian markets sustained all gains and ended closer to the day's highest point, with all sectoral indices ending in green. Rupee and rate sensitives were at the fore of the market rally.

In the overnight session on Wall Street, the Dow Jones continued its up move for the fourth session and closed high by almost half a percent. The S & P 500 and NASDAQ closed above the flat line.

Along with that, there’s some positive news, especially in terms of crude oil prices which actually softened for the industry's trading session. Brent futures traded closer to the $81.1 a barrel mark.

Asian markets indicated a mixed start this morning, given a certain amount of profit booking that’s been emerging after the recent rally.

Stocks in focus: Bajaj Finance, UCO Bank, Tata Consultancy Services, Rategain Travel, and Dabur

Tune in to the Marketbuzz Podcast for more cues

Following a market holiday, Indian benchmark indices, Sensex and Nifty 50, are poised for a higher opening on November 15, propelled by a surge in global stocks. The surge is attributed to the softer-than-expected US inflation data, which has sparked optimism regarding a potential conclusion to the interest rate-hiking cycle in the world's largest economy.

As of 7:59 a.m. IST today, India's GIFT Nifty was up 0.89%, reaching 19,731.50, approximately 300 points above the Nifty 50's closing figure on November 13.

In the overnight Wall Street session, US equities climbed higher with the Nasdaq Composite index recording a 2.4% increase, marking its most robust performance in over six months. This upswing came after the US consumer price inflation (CPI) remained unchanged in October, a first in more than a year, following a 0.4% uptick in September.

Simultaneously, early Asian trade witnessed a rise in oil prices attributed to escalating tensions in West Asia and a weakened dollar. Investors closely monitored inventory data following a two-week delay in reporting, with Brent futures maintaining levels around $82.5 per barrel.

In the preceding session, Indian markets concluded with losses, although broader markets outperformed the benchmark indices. The overall market breadth, however, favoured declines.

Goldman Sachs has upgraded its rating on Indian equities to the 'overweight' category. Additionally, MSCI released a list of stocks included in the global standard index.

Key stocks to track include Biocon, IDFC First Bank, Rail Vikas Nigam, and Grasim Industries.

Tune in to the Marketbuzz Podcast for more

Indian benchmark indices — Sensex and Nifty 50 — are likely to open the trading session of November 13 in green, a day after Samvat 2080 started on a strong note.

On the day of Diwali Muhurat trading on November 12, Nifty 50 ended nearly 100 points higher at 19,523 and Sensex closed 350 points higher at 65,250. For the Nifty, 19,500-level was the level that the index managed to cross on the upside and that is now a key level to hold as it aims for 19,600.

Meanwhile, the US markets ratings agency Moody's has downgraded the US credit rating outlook and thus, a certain amount of negative sentiment in US equity indices on November 10. However, for the last two consecutive trading weeks, all of the US indices ended with gains.

In some further positive news flow for the domestic market, crude prices fell close to 5% in the week gone by with Brent futures now trading and hovering closer to the $80 a barrel mark.

The earnings session has almost reached its final lap with a few more days left when listed companies will report their quarterly results. Grasim Industries and Manappuram Finance are due to report their earnings later in the day.

Coal India, ONGC, SAIL, LIC, Biocon and Eicher Motors are among the other stocks in focus.

Tune in to the Marketbuzz Podcast for more cues

In the recent market activity, we observed a range-bound performance with minor fluctuations. The Nifty Bank yesterday closed with a modest gain of around 25 points, while the midcap index rose by approximately 91 points. However, the overall market sentiment saw a dip of 143 points in the Sensex, and the Nifty also struggled to breach the levels around 19,004 to 19,500.

In terms of institutional participation, net selling prevailed, with institutions selling over 1,700 crores and buying around 1,500 crores. This suggests that institutions remained net sellers in the market.

One significant influence on the global markets was the hawkish comments made by Powell, which affected the US markets. The S&P witnessed a correction, breaking its longest winning streak since 2021, and the Asian markets followed suit. Additionally, oil prices hovered around $79 to $80 per barrel in response to these developments.

Despite the Nifty indicating a lower start, macroeconomic factors may provide some support to cushion the market fall. In terms of corporate earnings, several companies, including Biocon, Coal India, ONGC, Tata Motors, Glenmark Pharmaceuticals, and Tata Chemicals, are scheduled to release their results, which will be closely watched by investors.

Tune in to the Marketbuzz Podcast for more news and cues ahead of today's session