Indian benchmark indices ended on a firm positive note on Monday, with the Sensex advancing 388.17 points or 0.46% to end at 84,950.95, and the Nifty gaining 103.40 points or 0.40% to close at 26,013.45.
US Market Wrap
Wall Street traders pulled back from riskier bets ahead of two major tests for markets — Nvidia Corp.’s earnings and the upcoming jobs report — with both seen as pivotal for the global outlook through the rest of 2025, Bloomberg reported.
With investors bracing for clarity on the durability of the AI boom and the path of Federal Reserve rate cuts, equities retreated in tandem with crypto. The S&P 500 dropped nearly 1%, slipping below a closely watched technical threshold that many view as an entry point to deeper losses, according to Bloomberg.
Asian Market Update
Asian stocks declined at the open after Wall Street’s slide, as investors moved away from riskier assets ahead of Nvidia Corp.’s earnings and a key US jobs report later this week, reports Bloomberg.
As of 6:30 a.m.
Nikkei trades 2.25% lower
ASX 200 trades 1.35% lower
KOSPI trades 1.82% lower
Commodity Check
Oil held steady as traders assessed signs of a growing surplus against fresh US sanctions on Russia that have disrupted some crude shipments, Bloomberg reported. West Texas Intermediate hovered below $60 a barrel after a small decline in the prior session, while Brent settled near $64.
Gold was also little changed after three straight days of losses driven by waning expectations of a US rate cut next month, according to Bloomberg. Bullion traded around $4,030 an ounce on Tuesday. With markets waiting on a backlog of data following the longest US government shutdown on record, several Federal Reserve officials have warned against pushing for another cut in borrowing costs.
Key Events To Watch
External Affairs Minister S Jaishankar is in Russia on a three-day visit to attend the SCO Heads of State Council meeting
SAT to hear SEBI arguments on the Jane Street Plea
Home Minister Amit Shah and Commerce Minister Piyush Goyal to speak at separate events.
Stocks In News
JSW Infra: The company will acquire a 51% stake in an Oman Port SPV, which will build and operate a port with a capex of $419 million.
Emcure Pharma: Bain Capital, via its arm BC Investments IV Ltd., will sell shares worth Rs 492.7 crore via block deals. The firm will offer nearly 38 lakh shares, or 2% equity, at Rs 1,296.51 apiece, approximately 7% discount to Monday's closing price.
Mphasis: Promoter Blackstone Inc. will offer up to 9.5% equity via large deals. BCP Topco IX Pte will sell up to 1.8 crore shares at Rs 2,570 each, a discount of about 4.4% to the last closing price of Rs 2,688.7. The total deal size at the floor price amounts to nearly Rs 4,626 crore.
Paytm: Elevation Capital is looking to sell shares worth Rs 1,640 crore in One97 Communications via block deals. The firm will offer nearly 1.28 crore shares, or 2% equity, at Rs 1,281 apiece, at approximately 4% discount to Monday's closing price.
AstraZeneca Pharma: The company has signed a pact with Sun Pharma to distribute and market Sodium Zirconium Cyclosilicate in India; the drug is used to treat Hyperkalaemia.
Indokem: The company has received a notice from the Maharashtra Pollution Control Board to close its Ambernath unit within 72 hours over alleged air and water pollution violations.
PTC Industries: The company has commenced a major expansion of its investment casting facility in Gujarat.
Magallanic Cloud: The company’s board has approved a fundraise of Rs 500 crore through share issuance and other modes.
WPIL: The company’s arm has received a Rs 426 crore order from METSI KE MATLA JV for the MCWAP2 project of the Trans Caledon Tunnel Authority.
DCX Systems: The company and its arm Raneal Advanced Systems have secured international orders worth Rs 22.9 crore.
Virtuoso Optoelectronics: The company has signed a pact to lease assets of Star Eltech Manufacturing to produce ACs in Chennai.
Tata Power: The company’s arm has commenced operations at a 300 MW DCR solar project for NHPC in Bikaner.
HCLTech: The company has launched a Physical AI Innovation Lab in partnership with NVIDIA in California.
Piramal Finance: The company approves issuance of NCDs worth Rs 675 crore on a private placement basis.
Shraddha Prime Projects: The company acquires development rights for three land parcels in Mumbai with a total estimated GDV of Rs 1,200 crore.
Bansal Wire: The company’s GST demand has been reduced to Rs 69 lakh from Rs 45 crore earlier.
Mufin Green Finance: The board will meet on November 20 to consider raising funds.
Vedanta: The company’s power business secured a 5,000 MW power purchase deal from the Tamil Nadu discom as of November.
IPO Offering
Fujiyama Power Systems: The public issue was subscribed to 2.14x times on day 3. The bids were led by Qualified institutional investors (5.15x), non-institutional investors (88%), retail investors (100%).
Capillary Technologies: The public issue was subscribed to 52% on day 2. The bids were led by Qualified institutional investors (31%), non-institutional investors (56%), retail investors (1.05 times).
New Listing
PhysicsWallah: The issue price has been set at Rs 109. The public issue was subscribed to 1.81 times. The bids were led by Qualified institutional investors (2.70 times), non-institutional investors (0.48 times), retail investors (1.06 times).
Emmvee Photovoltaic Power: The issue price has been set at Rs 217. The public issue was subscribed to 97%. The bids were led by Qualified institutional investors (1.26 times), non-institutional investors (30%), retail investors (1.10 times)
Bulk And Block Deals
Onesource Specialty Pharma: Amansa Holding Private sold and Karuna Business Solutions bought two lakh shares at Rs 1,735 apiece.
GMM Pfaudler: First Sentier Investors sold 7.2 lakh shares at average price of Rs 1,201.65 apiece.
Mufin Green Finance: Incofin India Progress Fund sold 60 lakh shares at Rs. 104.6 apiece and Viney Equity Market bought 10 lakh shares at Rs. 104.25 apiece.
Anantam Highways Trust: Minerva Ventures Fund sold 25 lakh shares at Rs. 101.99 apiece, Trust Investment Advisors sold 18 lakh shares at Rs. 101.97 apiece and Larsen & Toubro bought 22 lakh shares at Rs. 101.97 apiece.
Insider Trades
Usha Martin: Peterhouse Investments disposed 40,000 shares.
Shaily Engineering Plastics: Laxman Sanghvi disposed 50,000 shares. Amit Sanghvi disposed 1 lakh shares.
NCC: AVSR Holdings acquired 4.2lk shares.
Trading Tweaks
List of securities shortlisted in Short-Term ASM Framework Stage: Anand Rathi Share and Stock Brokers.
Shares going ex-trade interim dividend: Venus Pipes & Tubes (Rs 0.50), Precision Wires India (Rs 0.35), Cochin Shipyard (Rs 4), Ashok Leyland (Rs 1), Asian Paints (Rs 4.5), Man Infraconstruction (Rs 4.5).
F&O Cues
Nifty Nov futures is up 0.43% to 26,061.90 at a premium of 48 points.
Nifty Nov futures open down by 1.54%
Nifty Options Nov 18 Expiry: Maximum Call open interest at 26,000 and Maximum Put open interest at 25,900.
Securities in ban period: SAIL.
Currency/Bond Update
The rupee closed 11 paise stronger at against the US dollar at 88.63.
The yield on the 10-year government bond closed flat at 6.54%.
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