KEY HIGHLIGHTS
Most US Futures Decline Ahead Of Key Economic Data
As of 3:27 p.m., the S&P 500 and Nasdaq 100 futures were trading 0.18% and 0.37% lower, respectively. The Dow Jones Industrial Average future was 0.08% down.
Events, Economic Data Later Wednesday
US: Prelim GDP QoQ
US: Unemployment Claims
US: Core Durable Goods Orders MoM
US: Durable Goods Orders MoM
US: Prelim GDP Price Index QoQ
US: Goods Trade Balance
US: Prelim Wholesale Inventories MoM
US: Chicago PMI
US: Core PCE Price Index MoM
US: Pending Home Sales MoM
US: Personal Income MoM
US: Personal Spending MoM
US: Crude Oil Inventories
US: Natural Gas Storage
Nifty, Sensex End At Three-Week Highs Led By Adani Enterprises, Adani Ports, HDFC Bank: Closing Bell
Benchmark equity indices continued to gain after a one-day drop on Tuesday and closed at their highest since November 6 led by gains in HDFC Bank and Adani Group shares, which emerged as top Nifty contributors.
Globally, market players assessed the impact of Trump's tariff policies and Israel-Lebanon ceasefire and they await key economic data from the US including prelim GDP and PCE Price index.
Intraday, both Nifty and Sensex rose over 0.6% to hit 24,354.55 and 80,511.15 respectively, their highest levels since November 7. Nifty ended 0.3% or 82.65 points up at 24277.15 and Sensex closed 0.3% or 238.75 points higher at 80242.81
"From the past 3 trading days, the Index is seen oscillating in a tight range of 24,140-24,350, a breakout on either side is necessary for a directional trend, " said Aditya Gaggar, director of Progressive Shares.
Share prices of HDFC Bank Ltd., Adani Enterprises Ltd., Adani Ports & SEZ Ltd., Trent Ltd., and NTPC Ltd. contributed the most to the gains in Nifty. While those of ICICI Bank Ltd., Tata Consultancy Services Ltd., State Bank Of India, Reliance Industries Ltd., and Titan Co. Ltd. capped the upside.
Most sectoral indices rose with Nifty Energy gaining the most
Market breadth was skewed in favour of buyers. Around 2,586 stocks advanced, 1,344 stocks declined, and 110 stocks remained unchanged on BSE.
The BSE Midcap ended 0.34% higher. The BSE Smallcap index outperformed benchmark indices and ended 1.18% higher.
On BSE, 18 sectors ended higher and three declined out of 21. The BSE Utilities rose the most, and the BSE Healthcare declined the most.
Rupee Weakens Against US Dollar
Rupee weakened by 11 paise to close at 84.45 against US Dollar.
It closed at 84.34 on Tuesday.
Source: Bloomberg
Markets At Close
Nifty and Sensex resumed their rally after one-day fall
Both Nifty and Sensex recorded highest closing since November 6
Intraday, both Nifty and Sensex rose over 0.6% to hit their highest levels since November 7
Nifty ended 0.3% or 82.65 points up at 24277.15
Sensex ended 0.3% or 238.75 points higher at 80242.81
Broader indices outperformed. Nifty Midcap 100 ended 0.6% up and Nifty Smallcap 250 closed 1% higher
Most sectoral indices rose with Nifty Energy gaining the most
Adani Enterprises and Adani Ports were top Nifty gainers
Apollo Hospitals and Titan Co. fell the most
Ola Electric Hits Upper Circuit
Shares of Ola Electric Mobility Ltd. hit upper circuit on Wednesday after the electric scooter manufacturer unveiled new two-wheelers aimed at India's gig workers. The company on Wednesday has recorded best session in over two months.
Adani Green Energy Hits Upper Circuit
Adani Green Energy share price extended its early gains and were locked in its 10% upper circuit at 2:42 p.m.
Ashoka Buildcon Share Price Falls As NHAI Cancels Bid
Ashoka Buildcon share price fell sharply after an exchange filing by the company said NHAI has cancelled bid for Kharagpur corridor due to administrative reasons.
Adani Group Adds Over Rs 1.2 Lakh Crore In M-Cap
At 2:22 p.m., Adani Enterprises traded 11% higher and Adani Ports & SEZ was 7% higher. Both the stocks cumulatively contributed nearly 30 points to the rise in index. Adani Total Gas and Adani Power gained the most among group stocks by more than 16% as of 2: 26 p.m.
Europe Market Open: Most Indices Fall As Investors Assess Trump Tariff Hikes
Share indices in the Europe saw a negative start as investors continued to assess Trump's decisions on tariff hikes. Only UK's FTSE 100 index traded flat and others fell. France's CAC 40 fell the most.
Tube Investments In Pact with Kcaltech Systems: Stock Market News
Tube Investments of India has entered into share subscription pact for acquiring 67% stake in Kcaltech Systems India for Rs 62 crore, an exchange filing said.
Cyient DLM Share Price Gains After HDFC Mutual Fund Increases Stake: Share Market Live
HDFC Mutual Fund has increased its stake in Cyient DLM Ltd. by 2.19%, the latter informed the exchange filing. After this, HDFC Mutual Fund holds 9.85% stakes in the Cyient DLM compared to 7.66% holding earlier.
Why The NTPC Green Listing Premium Makes Sense According To This Bernstein Analyst?
Shares of NTPC Green Energy Ltd., the renewable energy arm of state-owned NTPC Ltd., debuted on the Indian bourses at a premium of 3.33% over the issue price of Rs 108 per share. The scrip then surged to hit the upper circuit.
While the listing has sparked investor interest, there might be doubts about whether the company’s IPO valuation now exceeds its inherent value.
Find out here.
Akzo Nobel Gets Show Cause Notice: Share Market News
Akzo Nobel has got show cause notice of Rs 44.5 crore including interest & penalty from Karnataka GST Department for disallowance of ITC & tax due for period from April`20 to March`21, an exchange filing said. Company is in process of responding to notice within stipulated time.
Adani Enterprises Jumps Over 7%; Adani Ports Adds 4%: Share Market News
Two Adani companies which are a part of the Nifty 50 index gained the most among its constituents after the company's clarification on bribery charges in the US under Foreign Corrupt Practices Act. Other group stocks also extended their gains.
Honda launches its first EVs Active E and QC 1
Vehicle launched in two models- swappable battery and fixed battery
Swappable model to be available in Delhi Mumbai Bengaluru
Fixed battery model to be available across the country
Targeting to create dense network of swapping battery stations
Booking to start from January 2025, deliveries to follow in February
Honda to provide 3 free services for first year and 3 year warranty
To launch first concept store in Bengaluru by last quarter of fiscal
Source - Launch event
Adani Energy Share Price Hits Upper Circuit After Clarification On US Bribery Charges
Adani Energy Solutions Ltd. share price surged by 10%, hitting its upper circuit limit by midday on Wednesday. The rally followed a clarification by the company denying media reports that its directors were named in bribery charges in the US under Foreign Corrupt Practices Act.
Stock Recommendations Today: GAIL, NTPC Green, Tata Elxsi, Zomato, Experts Say
Is it the right time to enter NTPC Green Energy for investors who missed the initial public offer? What of Tata Elxsi Ltd. which is in a consolidation territory? Is it a good stock to enter for the long term? Zomato Ltd. may be a good option for accumulating on every dip, given its long term projection.
Vaishali Parekh, vice president of technical research analysts, Prabhudas Lilladher Pvt. and Sameer Dalal, owner of Natverlal & Sons Stockbrokers Pvt. give their insights.
LTIMindtree Share Price Hits Over One-Month High; Citi Sees Co Adapting To Industry Changes
LTIMindtree share price rose to hit its highest level in more than a month tracking Citi Research's comments post analyst meet. It said that the company seems to be adapting to the industry changes relatively well and is showcasing better EBIT growth.
Ola Electric Gets New 'Buy' From Citi With 22% Upside, Picks EV Maker Over Bajaj Auto: Share Market News
Citi has initiated coverage on Ola Electric with a Buy rating and a target price of Rs 90 with upside of 22% from previous close. The brokerage's positive stance is led by wide product portfolio and strong R&D focus,. The company is looking at significant vertical integration inc. Li-ion cell manufacturing.
Prestige Estates Share Price Falls After Morgan Stanley Downgrade
Share price of Prestige Estates Projects Ltd. fell over 5% on Wednesday, after Morgan Stanley downgraded the stock to 'underweight' from its previous 'overweight' rating, citing weaker pre-sales momentum and a reduced outlook for the company. The brokerage firm also lowered its price target for Prestige Estates to Rs 1,510 from Rs 1,770 per share, implying an 11.4% downside.
Ola Electric Records Best Session Since September
Shares of Ola Electric Mobility Ltd. surged over 9% on Wednesday after the electric scooter manufacturer unveiled new two-wheelers aimed at India's gig workers, even as the company reels under service-related issues.
NTPC Green Share Price Surges Over 13% To Cross 1 Lakh Crore In Market Cap: Share Market News
NTPC Green share price jumped more than 13% to its upper circuit limit after it got listed at a 3.33% premium on the bourses. The company's market cap was at 1.03 lakh crore at 10:34 a.m.
New Listing: NTPC Green Energy Lists At 3.33% Premium Over Issue Price
Shares of state-owned NTPC Ltd.'s renewable arm, NTPC Green Energy Ltd., listed on the BSE on Wednesday at Rs 111.60 apiece, a premium of 3.33% over the issue price of Rs 108 apiece. The stock listed at Rs 111.50 per share on the National Stock Exchange, marking a premium of 3.24%.
Siemens Share Price Hits One-Month High As Brokerages Raise Target After Q4 Results
Siemens India Ltd.'s September quarter results announced Tuesday has led brokerages to raise the stock's target price, driving the stock to hit its highest level in over a month.
Most Adani Stocks Gain: Share Market News
Shares of Adani Group companies were trading higher in early market hours on Wednesday, following Adani Green Energy Ltd.'s statement on bribery charges levelled by US Department of Justice. T
Wipro Share Price Hits Over Two-Year High: Share Market News
Wipro Ltd. share price hit the highest level in over two years as the company fetched a $100 million deal from Marelli, a Japan–based automotive solution firm. Wipro has extended partnership with Marelli for four years.
Nifty, Sensex See Muted Start As Airtel, ICICI Bank Share Prices Weigh: Opening Bell
Benchmark equity indices saw a muted start to Wednesday's session as share prices of Airtel and ICICI Bank weighed but those of Infosys and M&M limited the fall.
At pre-open, Nifty was at 24,204.80, up 0.04% or 10.30 points and Sensex was at 80,121.03, up 0.15% or 116.97 points. However, at 9: 18 a.m., they had erased their gains and traded flat.
According to Hardik Matalia, derivative analyst at Choice Broking, looking ahead, the 24,000 level is expected to act as a critical support zone."A decisive break below this level could drag the index toward the 23,800–23,600 range," he said. "On the upside, 24,500 remains a key resistance level, and a sustained breakout above this mark could open the door to higher levels."
In this volatile environment, he advises traders to adopt a buy-on-dips strategy as long as the index holds above 23,800.
Share prices of Bharti Airtel Ltd., Reliance Industries Ltd., Axis Bank Ltd., UltraTech Cement Ltd., and Cipla Ltd. dragged the Nifty by the most while those of HDFC Bank Ltd., M&M Ltd., Infosys Ltd., Kotak Mahindra Bank Ltd., and Coal India Ltd. minimised the fall.
Most sectoral indices opened lower, Nifty Auto and Nifty IT outperformed.
Nifty, Sensex Higher At Pre-Open
At pre-open, Nifty was at 24,204.80, up 0.04% or 10.30 points and Sensex was at 80,121.03, up 0.15% or 116.97 points.
Yield On The 10-Year Bond Opens Flat
-The yield on the 10-year bond opened flat at 6.85%.
-It closed at 6.85% on Tuesday.
Source: Bloomberg
Rupee Weakens Against US Dollar
-Rupee weakened by 5 paise to open at 84.39 against US Dollar.
-It closed at 84.34 on Tuesday.
Source: Bloomberg
Adani Green Energy Says News Report Claiming Officials Charged With Bribery Or Corruption 'Incorrect'
Gautam Adani, Sagar Adani and Vneet Jaain have not been charged with any violation of the FCPA or any conspiracy to obstruct justice in the indictment of the US DOJ or the civil complaint of the US SEC, a company statement said.
Bernstein Maintains 'Outperform' On Zomato
Bernstein has maintained its outperform rating on Zomato with a target of Rs 335, implying 20% upside. It said past precedents suggests that market leader almost always maintains leadership. Market size in India can reach 9,300 dark tores by 2030 and 70% of dark stores are in Metro and Tier1 cities, 30% in Tier2+ cities. Dark stores can do 2500 orders per day, it said noting BlinkIt is at 41% utilisation and is best placed in terms of cash with QIP providing larger war chest.
Stock Market Today: Antique Broking On Siemens
Retains Buy with a target price Rs 8,856, which implied a 22.2% upside
Revenue growth stood in line with estimates
Ebitda margin witnesses 240 bps expansion, ahead of estimates
Healthy execution across mobility and energy segments
Believes potential annual orders reaching Rs 40,000 crore over 2–3 years
Marginally trim estimates by 6%/ 13% for FY26/ 27 on execution
Gold Prices Extend Gain To Second Day
Gold prices continued to rise for a second day as traders monitor the development between Russia and Ukraine. They also try to understand the implication of higher US tariffs on China. The uncertainties supported the upward trajectory of gold future and spot prices.
News of Israel and Lebanon militant group Hezbollah coming to a agreement to halt hostilities for 60 days limited a rise in the bullion's price.
The Gold future was trading 0.62% higher at $2,637.60 as of 7:56 a.m. The Bloomberg spot Gold was trading 0.17% higher at $2,637.66 an ounce.
Stock Market Today: J.P. Morgan On Hyundai Motor India
Initiates Coverage with Overweight rating TP Rs2200, 17% upside,
Hyundai's premium portfolio, market share gains, and operational efficiencies as key drivers
Hyundai's 68% portfolio comprises the high-profitability SUV segment.
Market share expected to increase from 14% in FY25 to 15% in FY27
FY24 EBIT/vehicle at Rs. 89,000, a 43% premium compared to peers
Valued at a Mar-27 P/E of 25x.
Asia Market Open: Most indices Fall
Most stock indices of the Asia–Pacific were trading lower as market participants parse Australia CPI data which came lower than expected along with China's industrial profits data, which fell 10% in October from a year ago.
At 7: 47 a.m., Australia's ASX 200 and South Korea's Kospi were trading higher by 0.5% and 0.1%, while Japan's Nikkei and Hong Kong's Hang Seng were 0.7% and 0.2% lower.
US Market Close: Indices Higher As Market Awaits PCE Data
On Tuesday, the S&P 500 and Dow Jones Industrial Average notched a fresh high as Israel and Hezbollah reached a ceasefire agreement, Bloomberg reported. At close, S&P 500 was up 0.57% at 6,021.63, Dow Jones was 0.28% higher at 44,860.3, and Nasdaq Composite was up 0.63% at 19,175.58.
Investors now await the release of personal consumption expenditures price index due later Wednesday.
GIFT Nifty Trades Below 24,300; Infosys, Zee, LIC, Kotak Bank Share Prices In Focus
At 7:14 a.m., GIFT Nifty traded at 24,259.00, up by 11 points or 0.05%. Share prices of Infosys Ltd., Zee Entertainment Enterprises Ltd., Kotak Mahindra Bank Ltd. are some of the stocks to remain in focus tracking their news flow.
On Tuesday, the NSE Nifty 50 and the BSE Sensex failed to keep up the recovery in a choppy session on Tuesday as the benchmark indices reversed a two–session rally, dragged down by Mahindra & Mahindra Ltd. and Larsen & Toubro Ltd.
The Nifty 50 ended 27.40 points, or 0.11%, down at 24,194.50, and the Sensex closed 105.79 points, or 0.13%, lower at 80,004.06.
Overseas investors remained net buyers of Indian equities for the second consecutive day on Tuesday, while domestic institutional investors remained net sellers for the second straight day.
Foreign portfolio investors net bought stocks worth Rs 1,157.7 crore while the DIIs were net sellers of shares worth Rs 1,910.9 crore, according to provisional data shared by the National Stock Exchange.
The Indian rupee weakened by 6 paise to close at 84.34 against US dollar.
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