Stock Market Today: Angel One Shares Off Lows
Angel One Ltd. share price declined 4.71% to Rs 3,070.00 apiece. It was trading 0.12% down at Rs 3,217.75 apiece as of 10:06 a.m. as compared to 0.04% advance in the NSE Nifty 50 index.
Stock Market Live: Zen Technologies Share Price Soars As Nuvama Maintains ‘Buy’
Zen Technologies Ltd.’s share price surged over 7% after Nuvama maintain a ‘Buy’ on stock with a target price of Rs 2,000, an upside of 16%.
The brokerage noted that Zen Technologies has entered into a memorandum of understanding (MoU) with Florida-based AVT Simulation, a provider of air simulation systems, to tap into the US defence market.
RBI MPC Policy: Governor To Start Address Soon
The Reserve Bank of India Governor Shaktikantha Das to start address soon to announce policy decisions. Most market participants are expecting a status–quo.
In India, markets predict the RBI will hold the repo rate at 6.5% but may tweak the CRR to address high inflation and sluggish GDP growth in its meeting later today, said Ritesh Bhansali, director, Mecklai Financial Services Ltd.
India will most likely see a rate cut but will “definitely” see a cut in the cash reserve ratio, according to Jahangir Aziz, Head-Emerging Market Economics at JPMorgan.
Get live updates here.
Stock Market Live: Nifty, Sensex Open With Marginal Gains Before MPC Policy Decision
The NSE Nifty 50 and BSE Sensex opened with marginal gains on Friday as ICICI Bank Ltd. and Trent Ltd. share prices led. Market participants exercised caution before the outcome of the Reserve Bank of India’s Monetary Policy Committee policy decision.
As of 09:18 a.m., the Nifty 50 was trading 11.35 points or 0.05% down at 24,697.05, and the Sensex was trading flat at 81,752.29.
“On the global front, markets traded with mixed sentiment, while buying activity from FIIs suggests a positive momentum for the domestic market in the coming sessions,” said Hardik Matalia, research analyst, Choice Broking
Looking ahead, the 25,000 level is expected to act as a key resistance, and a sustained breakout above this mark could open the door for further upside. On the downside, the 24,500 level serves as an immediate support zone, followed by the 24,300 mark. Traders are advised to adopt a buy-on-dips strategy as long as the index holds above 24,200, with a strict stop-loss at 24,000 on a closing basis to effectively manage risk, Matalia said.
HDFC Bank Ltd., Tata Consultancy Services Ltd., Reliance Industries Ltd., Infosys Ltd., and Larsen & Toubro Ltd. weighed on the index.
ICICI Bank Ltd., Trent Ltd., ITC Ltd., Mahindra & Mahindra Ltd., and Bajaj Auto Ltd. added to the index.
On NSE, five sectors advanced, four declined, and three remained largely flat out of 12. The NSE Nifty Auto rose the most, and the NSE Nifty Media declined the most.
Broader markets outperformed benchmark indices. The BSE Midcap and Smallcap indices were trading 0.09% and 0.32% higher, respectively.
On BSE, 15 sectors advanced, and five decline out of 21. The BSE Telecommunication rose the most, and the BSE Focused IT declined the most.
Market breadth was skewed in favour buyers. Around 2,047 stocks advanced, 877 stocks declined, and 109 remained unchanged on BSE.
Stock Market Today: Nifty, Sensex Rise At Pre–Open
At pre–open, the NSE Nifty 50 was trading 0.09% higher at 24,729.45. The BSE Sensex was 0.15% higher at 81,887.54.
“The global cues are slightly negative as the U.S. markets came under some profit booking after hitting a fresh all time high,” IFA Global Research Academy said.
Yesterday’s weekly expiry with extremely volatile and the option premiums were quite elevated given an increase in VIX and market digesting the new expiry day margin norms, it said in a note.
Today’s key focus will be the RBI’s interest rate decision at 10 a.m. and that should keep the market participants on their feet. We expect the Nifty to trade between 24,150 to 24,850 with a neutral bias. Bank Nifty should remain more volatile today and we expect it to trade between 52,800 and 54,000, IFA Global Research Academy said.
Bitcoin Falls Below $100,000 Mark
Bitcoin prices fell below $100,000 mark as traders rushed to hedge after its historic rally on hope benign policies from the new administration in the US.
It was trading 1.60% down $97,445.76 as of 09:06 a.m.
Yield On The 10-Year Bond Opens Flat Ahead Of MPC Outcome
The yield on the 10-year bond opened flat at 6.68%. It closed at 6.68% on Thursday, according to data Bloomberg.
Rupee Opens Stronger Ahead Of MPC Outcome
Rupee Strengthened 7 paise to 84.66 against the dollar. It closed at 84.73 on Thursday, according to data on Bloomberg.
Stock Market Today: CLSA On India Strategy
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Economic activity points to growth below estimate in October and Q3
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Less than1/4 of indicators pointing to growth above estimate, 54% suggest a miss
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Discretionary spending by govt picked up, but on low base
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Govt’s discretionary spend will be helpful to push up growth
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Slower growth in credit card, retail loans suggest softness in consumption
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Vehicle, tractor sales and registrations suggest good festive demand in Oct
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Early indicators suggest robust rural activity in November
Stock Market Live Updates: JP Morgan On Indus Towers
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Maintain Overweight, target: Rs 520, upside 43.6%
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Hosted CFO Vikas Poddar in conference
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Indos towers expects Vodafone Idea to clear Rs 35 billion dues by 4QFY25
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Should drive higher dividends for FY25
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5G rural rollout is still sometime away
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No plans to repay debt as comfortable with current leverage
Stock Market Today: Morgan Stanley On India Strategy
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India key pick in EM and Asia-Pac, to be among best performing EMs in 2025
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See 14% upside to Sensex by December, 2025 in base case
Long-term story gaining strength with steady government policy action
Strong earnings, macro stability, domestic flows support India’s investment case
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The calendar year 2025 is likely to be a stock pickers’ market
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Potential global growth risks, bunching up of IPOs, near-term growth concerns present challenges
Stock Market Live: Goldman Sachs On Westlife Foodworld
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Maintains Buy with target price of Rs 1045
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Positive impact of menu interventions
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Soft base in H2 to aid same store sales growth recovery
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Operating leverage to start playing out as same store sales growth recovers
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Expects same store sales growth to turn mid single digit positive in H2FY25
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Management confident of outperforming peers
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Gross margin impact in Q2 was temporary
Stock Market Live Updates: JPMorgan On India Cement
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Maintain overweight on Ultratech & ACC;
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UltraTech Cement: Target price is Rs 13,470, which implied a 13% upside
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ACC: target price is Rs 3,250, which implied a 43% upside
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Ultratech Cement, Shriram Cement and Dalmia Bharat are up 10-13% since Nov-15
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Likely reflects rising expectations of an acceleration in Central Gov’t capex into FY25 end
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Cement dealer checks suggest pricing has moved marginally at best
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Cement Cos should deliver better QoQ numbers on higher volumes and operating leverage
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Update our models for near-term trends and continue to prefer UTCEM (on growth) and ACC (on valuations)
Stock Market Live: HSBC On Swiggy
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Initiate coverage with a hold and a target price Rs 550, which implied a 6% upside.
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Pioneer in both food delivery and quick commerce, but hasn’t been able to sustain its early mover advantage
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Catching up on both growth and profitability could be challenging in light of the severe competitive intensity
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FY24-27e, expect Swiggy’s food delivery to grow at a CAGR of 16%, and quick commerce to grow at c65%
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Do not forecast EBITDA breakeven for the overall business before FY28e
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Swiggy trades at a c35% discount to Zomato
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Better than expected execution and valuation catch-up are key upside risks
IPO Update: Vishal Mega Mart Sets Price Band At Rs 74–78 Per Share
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Vishal Mega Mart sets IPO price band at Rs 74-78 per share
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The bid for issue is to open on Dec 11 and close on Dec 13
Source: Company Statement
Asia Market Update: Stocks Decline
Asia–Pacific markets declined in early trade on Thursday as worries over political stability in South Korea and France weighed. As of 07:08 a.m., the Nikkei 225 was 0.65% down at 39,138.02. The S&P ASX 200 was 0.49% down at 8,433.30.
Market participants await US non–farm payroll data, scheduled for release later on Friday.
US Market Update: US Stocks Decline; Jobless Claims Hits One–Month High
US markets gave up gains in Thursday’s session. The Dow Jones Industrial Average and S&P 500 ended 0.55% and 0.19% down, respectively. The Nasdaq Composite index ended 0.17% down.
The number people filing for unemployment benefits in the US rose 9,000 to a seasonally adjusted 224,000 in the week ended on Nov 29. Bloomberg reported that the number of claims rose to one–month high.
Stock Market Live: GIFT Nifty Near 24,800; GPT Healthcare, Nykaa, Waaree Energies Share Prices In Focus
The GIFT Nifty was trading near 24,800 in early trade on Friday. GPT Healthcare Ltd., FSN E-Commerce Ventures Ltd., and Waaree Energies Ltd. share prices are likely to react.
The GIFT Nifty was trading 0.08% or 20 points lower at 24,805.50 as of 06:37 a.m.
Motilal Oswal Financial Services expect markets to gain some momentum in the near term on the back of positive global cues, optimism around enhanced government spending and favourable monetary policy changes by the Reserve Bank of India, said Siddhartha Khemka, head, research, wealth management.
The benchmark equity indices turned volatile in the last hour of trade on Thursday but still managed to close at their highest levels in more than a month, tracking records made by their US peers.
The NSE Nifty 50 ended 240.95 points or 0.98% higher at 24,708.40 and the BSE Sensex closed 809.53 points or 1% up at 81,765.86.
. Read more on Markets by NDTV Profit.The Nifty 50 and Sensex were trading 0.01% and 0.03% higher, respectively. Get live updates on Indian markets here. Read MoreMarkets, Notifications
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