KEY HIGHLIGHTS
US Futures Lower
As of 3: 30 p.m., futures contract of Dow Jones traded 0.1% lower, while S&P 500 and Nasdaq 100 both lost 0.2%.
Economic Data Releases And Events For Dec 2 & Dec 3
US: Final manufacturing PMI — 8:15 p.m.
US: ISM Manufacturing PMI — 8:30 p.m.
US: ISM Manufacturing Prices — 8:30 p.m.US: Construction Spending — 8:30 p.m.
US: Federal Reserve Governor Christopher Waller will speak at American Institute for Economic Research Monetary Conference, in Washington DC. — 1:45 a.m.
US: Federal Reserve Bank of New York President John Williams will speak at the Queens Chamber of Commerce, in New York —3:00 a.m.
Nifty, Sensex Rise For Second Day As RIL, Infosys Share Prices Lead: Market Wrap
The NSE Nifty 50 and BSE Sensex extended gains to the second day as Reliance Industries Ltd. and Infosys Ltd share prices led. The benchmark indices recovered at the later part of the session.
The Nifty 50 ended 142.90 points or 0.59% higher at 24,274.00, and the Sensex ended 445.29 points or 0.56% higher at 80,248.08.
Earlier in the day, the Nifty 50 declined 0.51% to 24,008.65, and the Sensex fell 0.62% to 79,743.87.
The benchmark indices declined as the Indian currency slumped to fresh record low against the US dollar. Worries over India's GDP and US President–elect Donald Trump threatened to impose tariff on BRICS nations if they create a currency to replace the greenback.
However, as the session advanced, the Nifty 50 rose as much as 0.71% to 24,273.80, and the Sensex rose 0.67% to 80,337.82.
"D-street commenced the December month on a tepid note but the Auto and Pharma segments along with select heavyweights supported the Index to recover from the lower levels. Follow-through momentum in the 2nd half of the trading session pushed the Index higher to close the trade at 24,276.05 with gains of 144.95 points. Barring PSU Banks and FMCG, all the other sectors ended the day in green with Realty and Metal being the top performers. From the morning trade itself, Mid and Smallcaps extended their journey towards the north to outperform the Benchmark Index. With a bullish candle on the daily chart, the Index is approaching the neckline (24,350) of an Inverted Head & Shoulder formation. Tomorrow's trade will provide better clarity on the potential pattern breakout. The immediate resistance is 24,350 while the downside is protected at 24,100," said Aditya Gaggar, director, Progressive Shares.
Reliance Industries Ltd., HDFC Bank Ltd., Infosys Ltd., UltraTech Cement Ltd., and Mahindra & Mahindra Ltd. added to the Nifty 50 index.
NTPC Ltd., HDFC Life Insurance Co. Ltd., Hindustan Unilever Ltd., Kotak Mahindra Ltd., and Cipla Ltd. weighed on the Nifty 50 index.
On NSE,10 sectors ended higher, and two declined out of 12. The NSE Nifty Realty rose the most, and the NSE Nifty PSU Bank declined the most.
Broader indices outperformed. BSE Midcap ended 1% higher and BSE Smallcap closed 0.9% up.
Three of 21 sectoral indices on the BSE ended lower and 18 rose. BSE Realty rose the most.
Market breadth was skewed in the favour of buyers. As many as 2,509 advanced, 1,546 declined, and 182 remained unchanged on the BSE.
Rupee Ends At Record Closing Low Against US Dollar
Rupee weakened by 21 paise to close at a record closing low of 84.70. The local unit fell as much as 22 paise to 84.71 during the session. It closed at 84.49 on Friday, according to data on Bloomberg.
Market At Close
The NSE Nifty 50 and BSE Sensex extended gains for a second day.
The NSE Nifty Realty is the top performing sectoral index. It ended 1,051.20.
The NSE Nifty PSU Bank is the worst performing sectoral index. It ended 0.40% down at 6,800.40.
The NSE Nifty Midcap 150 ended 0.95% higher at 21,105.90.
The NSE Nifty Smallcap 250 ended 0.70% higher at 17,840.10.
Wipro Share Price Rises Before Record Date
Wipro Ltd. share price rose 1.30% to Rs 585.55 apiece before it turns ex–bonus on Dec 3. It was trading 1.15% higher at Rs 584.50 apiece as of 3:18 p.m.
Stock Market Today: Waaree Energies Gets Order To Supply Modules.
Waaree Energies Ltd. has received orders for the supply of modules totaling up to 364 MWp and 160 MWp from Indian customers, according to an exchange filing.
Maruti Suzuki India November Business Update
Total production volume rose 14% to 1.68 lakh units compared to 1.48 lakh units
Total passenger production volume rose 14% to 1.65 lakh units compared to 1.45 lakh units
Source: Exchange Filing
Stock Market Today: Aimtron Electronics Gets Order Worth $1.8 Million
Aimtron Electronics Ltd. has received an order worth $1.8 million in the artificial intelligence sector, according to an exchange filing.
European Market Update: Most Markets In Europe Decline
Most markets in Europe declined on Monday as political tension rose in France. Meanwhile, Stellantis declined 7% after its chief executive officer resigned.
The Euro Stoxx 60 was trading 0.17% down at 509.36, and the DAX declined 0.18% down at 19,589.86.
Rupee Continues To Hit Fresh Lows Against US Dollar
The India rupee weakened by 21 paise to a fresh low of 84.70 against US Dollar. The local unit opened at 84.58 against US Dollar. It closed at 84.49 on Friday, according to data on Bloomberg.
Gujarat Gas Hikes CNG Prices By Rs 1.5 Per Kilogram
Gujarat Gas has raised CNG prices by Rs 1.5 per kilogram and may need to implement further price hikes to maintain its margins. The price increase follows a reduction in the government's allocation of cheaper gas to companies. However, the company has stated that it has no plans at present to hike gas prices for industrial users, Informist reported.
Adani Ports Achieves 36 MMT Cargo Volume In November
Adani Ports and Special Economic Zone Ltd. handled 36 million metric tonnes of total cargo in November, driven by a 21% year-on-year growth in container volumes. For the year-to-date period ending November, APSEZ managed 293.7 MMT of cargo, marking a 7% YoY increase.
Read the full article here.
IPO Update: Suraksha Diagnostic IPO Subscribed 20% So Far On Day Two
The IPO was subscribed 0.20 times, or 20%, as of 12:57 p.m. on Monday.
Qualified institutional buyers: Nil.
Non-institutional investors: 0.09 times, or 9%.
Retail investors: 0.36 times, or 36%.
Portion reserved for employees: Nil.
Portion reserved for shareholders: Nil.
Investigative Reports On Adani Group Are Planned Attacks, Says Porinju Veliyath
Porinju Veliyath, the founder and chief executive officer of Equity Intelligence India, has come out strongly in defense of Indian industrialists like the Adani Group, calling recent investigative reports against the conglomerate "planned attacks."
Disclaimer: NDTV is a subsidiary of AMG Media Networks Limited, an Adani Group Company.
Stock Recommendations Today: Hold JSW Energy, L&T Finance, Dilip Buildcon, Say Experts
Till when should you hold on to shares of JSW Energy Ltd., L&T Finance Ltd., and Dilip Buildcon Ltd.? How do analysts recommend trading September listed Gala Precision Engineering Ltd. and Bajaj Housing Finance Ltd.?
Get the answers here.
Care Edge Upgrades Rating of Adani Ports & SEZ
Adani Ports And Special Economic Zone Ltd. is in focus as CareEdge has upgraded the rating of its subsidiary, Gopalpur Port, by six notches to 'AA/Stable' from 'BBB (RWP)'. Adani Ports had acquired Gopalpur Port in March 2024.
Disclaimer: NDTV is a subsidiary of AMG Media Networks Limited, an Adani Group Company.
Stock Market Live Update: Rama Steel Tubes Incorporates New Subsidiary
Rama Steel Tubes has incorporated a new subsidiary, ONIX IPP Private, to focus on renewable energy, the company said in an exchange filing.
Stock Market Live Updates Today: HCLTech Collaborates With Google Cloud
HCLTech Ltd. has collaborated with Google Cloud to bring AI-driven Managed Detection and Response solutions to global enterprises, the company said in an exchange filing.
HUL Bets Big On Innovation And Premiumisation: Should You Buy The Stock?
Hindustan Unilever’s Capital Markets Day on Nov. 29 highlighted the company’s renewed focus on innovation, premiumisation, and catering to affluent consumers. Management reiterated their strategy to deliver double-digit earnings growth over the medium term by strengthening key brands, introducing premium products, and leveraging digital channels.
Info Edge Share Price Rises
Info Edge (India) Ltd. share price rose 2.74% to Rs 8,481.40 apiece. It was trading 2.03% higher at Rs 8,422.65 apiece as of 11:41 a.m., as compared to 0.03% advance in the NSE Nifty 50 index.
Stock Market Live Updates: Cochin Shipyard Share Price Hits Upper Circuit
Cochin Shipyard Ltd.'s share price resumed its rise after a one-session drop on Friday and rose to its upper circuit limit, recording its highest level since October 15.
Stock Market Today: Coal India November Business Update
Total Production rose 1.7% on the year to 67.2 million ton compared to 66 million ton
Total Sales rose 0.03% on the year to 63 million ton compared to 62.9 million ton
Source: Exchange Filing
Stock Market Today: Cipla Share Price Drops As 1.72% Equity Changes Hands
Cipla's Ltd. stock saw a decline on Monday after a large block of shares changed hands in pre-market trading. A total of 1.39 crore shares, representing 1.72% of the company’s equity, were traded at Rs 1,518.75 per share. This is a discount of over 1% from Friday's closing price of Rs 1,533.90, contributing to the downward movement in the stock. The block deal was done in four block trades, as per Bloomberg.
Stock Market Live Updates: RBL Bank Share Price Hits 52-Week Low
Shares of RBL Bank fell to their lowest in a year and half on Monday after the recently announced discontinuation of the co-branded credit card partnership between the lender and Bajaj Finance Ltd. sparked reactions among brokerages.
The Indian unit slumps the most in a day against the US dollar since June 26.
Aster DM Healthcare Share Price Hits Seven-Month High On Quality Care India Merger Plan
Aster DM Healthcare Pvt.'s share price rose to hit its highest in seven months, tracking Friday's news of the company's merger with Blackstone- and TPG-backed Quality Care India Ltd. through a share swap agreement.
Rupee Weakens Sharply To Record Low Against US Dollar
Rupee weakened by 17 paise to a fresh low of 84.66 against US Dollar. The local unit opened at 84.58 against US Dollar. It closed at 84.49 on Friday, according to data on Bloomberg.
The rupee makes a trading low of 84.69 a dollar after growth falls, foreign portfolio investors remain sellers of equity and buyers of dollars after they roll over shorts to December. Trump says he will levy 100% of tariffs if BRICS countries abandon dollar to any other currency or if they try to formulate a BRICS currency. Reserves fall for eight consecutive week as RBI sells dollars to protect rupee without changing the direction of its weakness, said Anil Kumar Bhansali, head, treasury and executive director, Finrex Treasury Advisors LLP.
Stock Market Today: Veranda Learning To Consider Fundraise
Veranda Learning Solutions Ltd. is set to consider fundraising through equity or warrants in its board meeting scheduled for Dec 11, according to an exchange filing. The company will also review prospective acquisitions during the meeting.
Stock Market Live: SpiceJet To Earn Rs 185 Crore From Flight Operations To Haj
SpiceJet Ltd. has been granted the rights to operate Haj flights from four Indian cities in 2025, according to a press release. The airline expects a revenue potential of Rs 185 crore from its Haj operations in 2025.
Stock Market Live: AXISCADES Technologies To Restructure Defense–Focused Subsidiaries
AXISCADES Technologies has announced a strategic restructuring of its defence-focused subsidiaries, according to an exchange filing.
Shortly after the release of exchange filing, AXISCADES Technologies share price rose 5.77% to Rs 468.35 apiece.
Stock Market Today Adani Green Energy Continues To Rally, Stock Soars Over 9%
Adani Green Energy Ltd. saw a significant surge in its stock price in early trade on Monday, gaining nearly 10% after a logging its best session in almost a year on Friday.
Dixon Technologies Share Price Hits Record High As Unit In Contract To Make Google Pixel
Dixon Technologies India Ltd. share price rose to fresh high on Monday after the company's wholly owned subsidiary signed a contract with the manufacturer which makes the Google Pixel. Padget Electronics Pvt. Ltd. signed a manufacturing agreement with Compal Smart Device India Pvt. Ltd. to launch the mass production of Google Pixel.
IPO Update: Greaves Cottom's Electric Vehicle Unit Approves IPO Plan
Greaves Electric Mobility, the electric vehicle unit of Greaves Cotton Ltd., has approved the plan for an initial public offering. The IPO will consist of a fresh issue of shares as well as an offer for sale component. The exact size of the IPO has not been disclosed, the company said in an exchange filing.
Yield On The 10-Year Bond Declines
The yield on the 10-year bond declined 2 bps to 6.72%. It closed at 6.74% on Friday, according to data on Bloomberg.
Stock Market Live: Nifty, Sensex Fall Shortly After Open As ICICI Bank, RIL Share Prices Drag
The NSE Nifty 50 and BSE Sensex declined right after a muted open as ICICI Bank Ltd. and Reliance Industries Ltd. share prices dragged. The India rupee declined sharply to record low against the US dollar before the market opened also pressured the benchmark indices.
As of 09:17 a.m., the Nifty 50 was 79.05 points or 0.33% down at 24,052.05, and the Sensex was 353.16 points or 0.44% down at 79,449.63.
"The market seems to be transitioning from a no-money to a hard-money environment. Therefore, Nifty’s performance before reaching 50 DMA will be crucial, making the zone of 24,550-24,665 an important resistance level to monitor. The index is expected to gain additional bullish strength if it decisively reclaims this zone. On the other hand, the zone of 23,650-23,260 will serve as a critical support level," said Ameya Ranadive, a senior technical Analyst, StoxBox.
Infosys Ltd., ICICI Bank Ltd., Reliance Industries Ltd., Larsen & Toubro Ltd., and HDFC Bank Ltd. weighed on the Nifty 50 index.
The Sun Pharmaceutical Industries Ltd. Maruti Suzuki India Ltd., Shriram Finance Ltd., Bajaj Auto Ltd., and Apollo Hospitals Enterprise Ltd. share prices contributed to the Nifty 50 index.
On NSE, eight sectors declined, and four advanced out of 12. The NSE Nifty IT declined the most, and the NSE Nifty Pharma rose the most.
On BSE, broader markets were trading on a mixed note. The BSE Midcap and Smallcap indices were trading 0.11% higher, and 0.06% lower.
On BSE, 13 sectors declined, eight advanced out of 21. The BSE Oil and Gas declined the most, and the BSE Consumer Durables rose the most.
Marker breadth was even split between buyers and sellers. Around 1,581 stocks advanced, 1,514 stocks declined, and 167 stocks remained largely unchanged.
Stock Market Today: Nifty, Sensex Flat At Pre–Open
At pre–open, the NSE Nifty 50 was 0.04% higher at 24,410.85, and the BSE Sensex was 0.07% down at 79,743.87.
Rupee Weakens To Record Low Against US Dollar
Rupee weakened by 10 paise to a fresh low of 84.59 against US Dollar. The local unit opened at 84.58 against US Dollar. It closed at 84.49 on Friday, according to data on Bloomberg.
US Money Market Update: Dollar Index & US Treasury Yield Rise
The dollar index regained its strength after snapping a eight–week winning session as the US President–elect Donald Trump warned BRICS nations that it will face 100% tariff in case it tries to replace the US currency.
The benchmark yield on the 10–year US Treasury note rose over 1% in Asia session on Monday due to Trump's tariff threat.
As of 08:28 a.m., the dollar index was 0.50% higher at 106.28, and the yield on the10–year US Treasury note rose 4 basis points to 4.21%.
BRICS is an intergovernmental organisation comprises nine countries. Brazil, Russia, India, China, South Africa, Iran, Egypt, Ethiopia and the UAE.
Gold Prices Decline As Dollar Index, US Treasury Yields Rise
Gold prices declined in Asia trade, snapping a two–day decline as the dollar index and US treasury yields rose. As of 08:27 a.m., the spot Gold price was 0.57% lower $2,628.98 an ounce.
A rise in the dollar index makes the bullion expensive for other currency holder, and a rise in the US Treasury yields makes it charm as a safe haven asset less attractive.
Oil Prices Rise As Demand Outlook Improves On China Recovery Hope
Crude oil prices rose in Monday's Asia session after the demand outlook brightened for the commodity on hopes of economic recovery in China, th second largest oil consumer country in the world.
Data showed factory activity expanded in China for second month in November, Reuters reported.
Moreover, geopolitical tension in the West Asia rose again as both the Israel and Lebanon accused each other of violating the ceasefire agreement.
As of 08:11 a.m., the brent crude's January contract was 0.61% higher at $72.27 a barrel.
UBS On Tata Motors: Takeaways From UBS European Auto Head Call
Retain 'Sell' with a target price Rs 780, which implied a 1% downside.
Global Auto cos including premium brands face downside earnings risk in CY25
Downside risk led by geopolitical tensions, weak demand environment
German Carmakers indicate further margin compression in CY25
Don't see Chinese EV penetration risk in Europe and USA
Global light vehicle production forecasted at 2% fall in CY24, 1% rise in CY25
JLR's H225 guidance quite contrary to other car makers
JLR's all EV strategy is a risky strategy given setbacks to Porsche and Volvo
Nuvama on Adani Ports & SEZ
Maintain Buy with a target price Rs 1,960, which implied a 63.3% upside
Reiterated guidance of 1bnt handling volume by 2030
Revenue/EBITDA to grow at CAGR of 20%/18% in FY24–29
Logistics business expected to be key growth driver
Expect 46%/48% CAGR in revenue/EBITDA over FY24–29 for logistics
Net debt to EBITDA improved from 3.3x in FY21 to 2.0x in H1FY25
Cumulative OCF of Rs 1.3 lk cr in FY24–29 to cover capex and debt repayments
Disclaimer: NDTV is a subsidiary of AMG Media Networks Limited, an Adani Group Company.
Stock Market Today: Goldman Sachs On HUL
Rates Neutral with a target price of Rs. 2,775, which implied a 11% upside.
Expects HUL’s earnings growth to lag gowth as compare to peers
HUL’s slower growth on account of:
Rise in competition in beauty care
Health food drinks segment initiatives around distribution and low price points yet to revive
Most Asian Stocks Gain
Most markets in Asia–Pacific were trading higher on Monday, tracking gains on Wall Street. The S&P ASX 200 and KOSPI were trading 0.3% and 0.19% higher, respectively as of 07:25 a.m.
Bucking the trend, the Nikkei 225 was 0.4% down as of 07:25 a.m.
US Market Update: Stocks End Friday's Short Session Higher
US stocks ended higher in a short Black Friday session as technology stocks rose.The Dow Jones Industrial Average and S&P 500 ended 0.42% and 0.52% higher, respectively. The Nasdaq Composite ended 0.52% higher.
GIFT Nifty Near 24,300; Cipla, Coal India, KEC International, RVNL Share Prices In Focus
The GIFT Nifty was trading above 24,300 in early trade on Monday. Cipla Ltd., Coal India Ltd., KEC International Ltd., and Rail Vikas Nigam Ltd. share prices are in focus.
The GIFT Nifty was trading 0.12% or 28.50 points lower at 24,371.00 as of 6:51 a.m.
The indices recovered from their steep falls in the previous session as Bharti Airtel Ltd. and Reliance Industries Ltd. shares contributed the most. They had witnessed steepest intraday fall in over last three weeks on Thursday.
The Nifty ended 0.91% or 216.95 points higher at 24,131.10 and Sensex closed 0.96%, or 759.05 points up at 79,802.79.
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