Closing Bell: Taking A Pause
The eight-day rally witnessed by India's benchmark indices came to a halt during the weekly options expiry session. Global sentiment remains cautious over deteriorating Covid-19 situation.
The S&P BSE Sensex ended 0.54% lower at 43,357 while the NSE Nifty 50 index ended 0.4% lower at 12,693.
The Nifty PSU Bank index was the biggest laggard in today's session, ending 2.3% lower. Also ending lower was the Nifty Bank, which shed 570 points or 2% out of the 5,000 point surge it saw over the last eight trading sessions. Three out of the top five laggards on the Nifty were banking stocks.
Sectors that bucked the trend were the Nifty FMCG index, which gained 1.3% along with the Nifty Media and Nifty Realty index, which ended with gains of 0.7% each.
After days of underperformance, the broader markets managed to outperform the benchmark indices in today's session. The Nifty Midcap index ended 0.6% higher while the Smallcap index gained 1.3%.
India Volatility Index ended 6.4% lower at 20.62 after gaining for two straight days.
1,115 stocks on the NSE ended with gains while 713 stocks declined at the close of trade.
How Did The Sectoral Indices Fare
For Stressed Sectors
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Markets At 2:10 P.M.
- Benchmark indices likely to snap eight-day winning streak.
- Nifty down 0.5% at 12,690
- Sensex down 0.5% at 43,371
- Nifty Bank down 1.9% at 28,309
- Nifty Midcap index up 0.5%
- Nifty Smallcap index up 1.1%
- India Volatility Index down 5.4% to 20.84
- Nifty PSU Bank index among top sectoral laggards; down 1.8%
- Nifty Pharma index off the day's high; up 0.7%
- Nifty FMCG and Nifty Realty up 0.6% each
- Shree Cement remains the top Nifty gainer; up 2.9%
- Kotak Mahindra Bank is the top Nifty laggard; down 2.6%
- 1,072 stocks on the NSE trade with gains while 734 are declining
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Earnings Outperformance To Sustain?
Markets At Noon
- Benchmark indices continue to trade with losses
- Nifty down 0.6% at 12,674
- Sensex down 0.7% at 43,292
- Nifty Bank down 1.7% at 28,370
- Nifty Midcap index up 0.4%
- Nifty Smallcap index up 1.1%
- India Volatility Index down 3.9% to 21.2
- Nifty PSU Bank index remains the top sectoral laggard; down 1.7%
- Nifty Pharma remains the top sectoral gainer; up 1.3%
- Nifty FMCG and Nifty Media index gain 0.5% each
- Shree Cement is the top Nifty gainer; up 2.2%
- Kotak Mahindra Bank is the top Nifty laggard; down 2.3%
- 1,095 stocks on the NSE trade with gains while 684 are declining
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Markets At 10:10 A.M.
- Benchmark indices decline after eight days of gains
- Nifty down 0.4% at 12,698
- Sensex down 0.4% at 43,401
- Nifty Bank down 1.6% at 28,386
- Nifty Midcap index up 0.6%
- Nifty Smallcap index up 0.9%
- India Volatility Index down 3.8% to 21.2
- Nifty PSU Bank is the top sectoral laggard; down 1.7%
- Nifty Pharma is the top sectoral gainer; up 1.4%
- Nifty I.T. up 0.8% while Nifty FMCG and Nifty I.T. gain 0.5% each
- Hindalco is the top Nifty gainer; up 2.9%
- Coal India is the top Nifty laggard; down 3.3%
- 1,023 stocks on the NSE are trading with gains while 650 are declining
Goldman Sachs Raises Nifty Target
Opening Bell: A Subdued Start
Indian equity markets have opened lower for the first time in nine sessions, as the record breaking rally looks to take a pause. The focus will now be on Finance Minister Nirmala Sitharaman, who is likely to announce the next round of stimulus measures at 12:30 P.M. today.
The S&P BSE Sensex opened 0.7% lower at 43,291 while the NSE Nifty 50 index opened with cuts of 0.4% at 12,702.
The Nifty Bank, after gaining 5,000 points over the last eight trading sessions has opened 0.7% lower while the other sectoral indices have opened mostly flat.
Broader markets too have had a subdued start to trade. The Nifty Midcap index is up 0.15% while the Smallcap index is up 0.3% as trading begun.
851 stocks on the NSE are trading with gains while 668 are declining in the early minutes of trading.
Current Market Update
Eight-Day Winning Streak Under Cloud?
Good Morning!
India's benchmark indices have surged for the eight straight sessions, scaling new peaks over the last three days.
The Sensex has gained 4,000 points, while the Nifty 50 has rallied more than 1,000 points. The Nifty Bank, too, has advanced 5,000 points during this period.
But that's likely to pause amid weekly options expiry jitters, as indicated by futures. The Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, fell 0.4% to 12,744 as of 8:20 a.m. on Thursday.
Shree Cement, Coal India and Power Grid will remain in focus as they reported their quarterly results after market hours on Wednesday. Broader market firms like Aurobindo Pharma, Metropolis Healthcare and SpiceJet, among others, too, may react to their quarterly results.
Eicher Motors and Grasim are the two Nifty companies that will report results today. Non-Nifty firms coming out with numbers today include Power Finance Corporation, Avanti Feeds, Cochin Shipyard, HEG, IRCTC, Mahanagar Gas, Mazgaon Dock, Sun TV, Phoenix Mills, Engineers India and Page Industries.
Asian markets are mixed today. Global equities have surged about $6 trillion in so far in November. Futures on the Dow Jones are trading 70 points lower. The index ended flat on Wednesday.
West Texas Intermediate crude rose 0.7% to $41.75 per barrel, while gold rose 0.3% to $1,871/Oz.
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