Good morning!
Markets On The Home Turf
Nifty settled above 26,200 mark on Wednesday, just 72 points away from a record-high.
The benchmark also recorded the biggest intraday gain since 26 June 2025, while broader market indices gained for a second consecutive session.
"The all-time high now sits within striking distance and appears more like a near-term formality," added Rajesh Bhosale, Equity Technical Analyst, Angel One.
Nifty metal and Nifty Oil and Gas led the gains in Nifty and all sectoral indices closed higher. The top gainers for the index were JSW steel and SAIL with gains over 3%. Sensex settled near the 85,600 mark.
US Market Wrap
A four-day rally in U.S. Treasuries paused on Wednesday, leaving the 10-year yield steady at 4% after stronger-than-expected labor market data. This followed a 0.7% gain in the S&P 500 and a 0.9% rise in the tech-heavy Nasdaq 100 ahead of the Thanksgiving holiday.
Asian Market Wrap
Asian equities tracked Wall Street’s advance as the global rally continued, driven by growing expectations of Federal Reserve rate cuts. Benchmarks in Japan, South Korea, and Australia opened higher, while Hong Kong futures were little changed.
Commodity Check
Gold held firm after climbing nearly 1% in the previous session on speculation of another U.S. rate cut. Bullion traded near $4,165 an ounce, supported by recent Federal Reserve comments signaling further monetary easing in December.
Stocks In News
Concor: The company has received approval from the Ministry of Railways to extend Anurag Kapil's term as Director (Finance) for another three years.
Wipro: The company has partnered with the Indian Institute of Science to drive advanced innovations across frontier technologies.
Den Networks: The company has sold its entire stakes in three arms—50.99% in Den Fateh Marketing, 56.88% in Den Budaun Cable Network, and 51% in Mahadev Den Cable Network—leading to all three ceasing to be its subsidiaries.
Pidilite Industries: The company's arm will invest Rs 5.1 crore in MagicDecor through a preference share allotment.
Info Edge: The company will invest Rs 70 crore in its arm Startup Investments (Holding) and Rs 5 crore in its arm Smartweb Internet Services.
Havells India: The company will acquire a 26% stake in SPV Kundan Solar (Pali) for Rs 5.6 crore to develop and maintain a solar power plant.
Panorama Studios International: The company has signed an agreement with Indywood Distribution Network to exploit airborne rights of eight films in India and overseas. The Board will meet on Dec 1 to fix the Record Date to determine eligibility of shareholders for the proposed issue of Bonus Shares.
Asian Paints: The company's arm will set up a second manufacturing plant in the UAE at a cost of Rs 340 crore.
Whirlpool India: Promoter Whirlpool Mauritius will sell up to 95 lakh shares (7.51% of equity) via accelerated bookbuild. The fully secondary sale is at a floor price of Rs 1,030, which is a 14.2% discount, with a deal size of Rs 910 crore.
M&B Engineering: The company receives a Rs 67.12 crore export order to supply pre-engineered building to a US customer.
LG Balakrishnan: The company signs an MoU with the Tamil Nadu government for infrastructure support, approvals, and incentives.
Oberoi Realty: The company signs a pact to redevelop 4,706 sq m land at Mumbai's Nepean Sea Road.
India Glycols: The company raises Rs 467 crore via preferential allotment of 51 lakh shares, with the proceeds to be used for reducing overall debt.
Satin Creditcare: Dhiraj Jha resigns as Chief Executive Officer and Whole-Time Director of arm Satin Finserv. Pramod Marar is appointed as an additional director and will be designated Chief Executive Officer and Whole-Time Director of the arm.
Speciality Restaurants: The company signs a strategic investment deal worth Rs 20 crore for its Bhubaneswar project.
Dr. Reddy's Labs: Hyderabad Goods and Services Tax authority imposes a Rs 64.9 lakh penalty for not declaring correct tax liability.
Axis Bank: The company appoints Anand Viswanathan as Chief Risk Officer for three years from Jan 1, 2026. Amit Talgeri will step down on Dec 31, 2025.
Panacea Biotec: Devender Gupta resigns as Chief Financial Officer effective Dec 15, citing personal reasons.
Bharti Airtel: The company's promoter, Indian Continent Investment, sells 0.56% stake for Rs 7,200 crore.
Patel Engineering: The company receives two Letters of Intent from SECL for coal excavation and transport at Jhiria West OCP, Bilaspur, valued at Rs 798.19 crore.
Ugro Capital: The company's board will meet on Dec 1 to consider fundraising via Non-Convertible Debentures (NCDs) on a private placement basis.
Ashoka Buildcon: The company's arm sells five SPVs to Maple Infrastructure Trust for Rs 1,814 crore.
Sequent Scientific: The company fixes Dec 8 as the second record date for the merger of nine pharma entities and share exchange with Viyash Life at a 2:56 ratio.
Electronics Mart: The company will convert its exclusive 'Samsung Store' outlet into a 'Haier Store' outlet.
Ashiana Housing: The company will invest Rs 750 crore in a new residential project in Gurugram.
M&M: The company launches the world's first Formula-E themed SUVs, with FE2 priced at Rs 23.7 lakh and FE3 at Rs 24.5 lakh. Bookings for the BE6 Formula-E Edition open Jan 14, 2026, and deliveries begin Feb 14, 2026.
Grasim Industries: The company will acquire a 29% stake in SPV GMR Kalinga Solar Power for Rs 3.6 crore.
SBI Life Insurance: The company has received a Rs 68.8 crore order from the Madhya Pradesh tax authority over non-reversal of input tax credit and other matters. The company will appeal against the demand.
Ashok Leyland: The company's board has approved the merger of its arm Hinduja Leyland Finance into NDL Ventures.
Apollo Microsystems: The company approves allotment of 1.2 crore shares on conversion of warrants.
Anant Raj: The company's arms Vrittanta Real Estate and Romano Builders have jointly acquired 100% stake in Blessed Landbase LLP.
Kesar India: The company has acquired a 24,256 sq m land parcel in Nagpur, with a development potential of 1.5 million sq ft, expected to generate nearly Rs 900 crore in future revenue.
Nacl Industries: The company's board will meet on Dec 1 to consider raising funds via a rights issue, Qualified Institutional Placement (QIP), or other permissible routes.
J&K Bank: The company's board approves fundraise of Rs 1,250 crore via QIP and NCDs on a private placement basis.
One 97 Communications: The company's arm Paytm Payments Services gets Reserve Bank of India authorisation to operate as a payment aggregator.
Indo Tech Transformers: The company receives a Rs 91.3 crore order from Four EF Constructions to supply 11 transformers.
Bulk And Block Deals
Bharti Airtel: The company’s promoter Indian Continent Investment sells 34.3 lakh shares for Rs 7,195 crore.
Rain Industries: K2 Family Private Trust sold 10 lk shares (0.29%) & Haresh Tikamdas Kaswani sold 9.48 lk shares (0.28%), while First Water Fund bought 19.48 lk shares (0.58%) at Rs. 109 apiece.
Tarsons Products: Siddhartha Sacheti sold 8.41 lk shares (1.58%) at Rs. 229.24 apiece.
Trading Tweaks
Price Band change from 20% to 10%: Magellanic Cloud, SVP Global
Face value split: Sikko Industries (From Rs 10/- Per Share to Rs 1/- Per Share)
List of securities shortlisted in Short Term ASM Framework: Greenleaf Envirotech, Integrity, Magellanic Cloud
List of securities shortlisted in Long Term ASM Framework: Svp Global Textiles , Net Avenue, Ambani Orgochem
F&O Cues
Nifty Dec futures is up by 1.28 % to 26381 at a premium of 176 points.
Nifty Nov futures open interest up by 2.28%
Nifty Options 18 Nov Expiry: Maximum Call open interest at 26500 and Maximum Put open interest at 26000.
Currency/Bond Market
The rupee slipped 1 paisa to close at 89.23 against the US dollar in a range-bound trade as firm domestic equities and a slide in global crude prices offset the impact of a consolidating dollar. Yield on the 10-year bond ended flat at 6.50.
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