Stock Market Today: All You Need To Know Going Into Trade On Nov. 29
The GIFT Nifty was trading 0.12% or 29 points lower at 24,120, as of 06:31 a.m.
Asia–Pacific markets were trading in losses after data showed Tokyo inflation rose more than expected in November. Tokyo inflation is an indication of nation wide trend.
The Nikkei 225 and Kospi were trading 0.92% and 1.89% down, respectively as of 06:45 a.m. The S&P ASX 200 was 0.47% lower.
The Bloomberg Spot Gold was 0.16% higher at $2,642.11 an ounce, as of 6:48 a.m.
Financial markets in the US were closed for Thanksgiving on Thursday.
The GIFT Nifty was trading 0.12% or 29 points lower at 24,120, as of 06:31 a.m.
The NSE Nifty 50 and BSE Sensex ended at the lowest level since Nov. 22 as Infosys Ltd. and HDFC Bank Ltd.'s share prices dragged. The Indian benchmarks also witnessed the steepest intraday fall in over the last three weeks.
The Nifty 50 ended 360.75 points, or 1.49%, down at 23,914.15, and the Sensex ended 1,190.34 points, or 1.48%, lower at 79,043.74.
Foreign investors turned net sellers after three consecutive buying sessions, as the Russia-Ukraine conflict and US interest rate uncertainties dampened sentiment. The selling recorded on Thursday was the third largest single-day selling from foreign portfolio investors so far this year.
The FPIs offloaded stocks worth approximately Rs 11,756.25 crore, while the DIIs bought stocks worth Rs 8,718.3 crore.
The Indian rupee weakened by 4 paise to close at 84.49 against the US dollar.
Stocks to Watch
HDFC Life Insurance Co.: The company has addressed media reports regarding changes to bancassurance regulations by IRDAI. It clarified that regulatory changes of this nature are usually preceded by consultations with the industry.
Fine Organic Industries: The company will resume its Badlapur plant operations from Nov. 28 and is actively working on fully restoring all other plant activities to normalcy.
Reliance Industries: The company's subsidiary has entered into a stock purchase agreement with Wavetech Helium and acquired a 21% stake in the company for a total consideration of $12 million.
Nuvoco Vistas Corp.: The company incorporated its wholly owned subsidiary in the name of Vanya Corp. to carry on the business of manufacturing cementitious products.
Infosys: The NCLT has ordered the liquidation of the subsidiary, Skava, effective from Nov. 14.
PC Jeweller: The company has set Dec. 16 as the record date for the 10-for-1 share split.
Mahindra & Mahindra: The company has clarified reports suggesting it is likely to face emission penalties of Rs 7,300 crore, stating that these claims are factually incorrect.
Adani Power: The company achieved a score of 67 out of 100 in the corporate sustainability assessment by S&P Global for fiscal 2024.
IIFL Finance: The subsidiary has raised funds of up to Rs 100 crore through NCDs, with the option to retain oversubscription of up to Rs 400 crore.
SBI Life Insurance Co.: The company clarified media reports regarding changes to bancassurance regulations by IRDAI, stating that IRDAI follows a consultative process and seeks feedback from all stakeholders.
SJVN: NHPC Ltd. Chairman Raj Kumar Chaudhary has been entrusted with the additional responsibility of being CMD of SJVN , effective from Nov. 1.
Listing Day
Enviro Infra Engineers: The company's shares will debut on the stock exchange on Friday. The Rs 650.43-crore IPO has been subscribed 89.9 times on the final day. The bids were led by qualified institutional investors (157.05 times), non-institutional investors (153.8 times), and retail investors (24.48 times), with a portion reserved for employees (37.77 times).
IPO Offering
Suraksha Diagnostic: The company will offer shares for bidding on Friday. The price band is set from Rs 420 to Rs 441 per share. The Rs 846.25-crore IPO is a completely offer-for-sale issue. It raised Rs 253 crores from anchor investors.
Insider Trade
Rajoo Engineers: Promoter Shrutina Nexgen LLP sold 56,000 shares on Nov. 27.
Sudarshan Chemical Industries: Promoter Pradeep Ramwilas Rathi sold 7.62 lakh shares on Nov. 27.
ZF Commercial Vehicle Control Systems India: Promoter Wabco Asia Private Limited sold 8.2 lakh shares on Nov. 27.
Sheela Foam: Promoter Rahul Gautam bought 25,000 shares on Nov. 27.
Pledge share details
Quick Heal Technologies: Promoter Anupama Kailash Katkar created a pledge for 13.5 lakh shares on Nov. 22.
Trading Tweaks
Ex/ record dividend: Talbros Auto, VRL Logistics, Career Point, Surya Roshni, Venus Pipes, Dynamatic Technology, Gofrey Phillips, Nalco.
Price Band revised to 10%: Pix Transmissions, Angel One, APL Apollo Tubes, Adani Total Gas, Bank of India, Computer Age Management Services, CESC, CG Power and Industrial Solutions, Cyient, Delhivery, Avenue Supermarts, HFCL, Housing & Urban Development Corporation, Indian Bank, IRB Infrastructure Developers, Indian Railway Finance Corporation, Jio Financial Services, Jindal Stainless, JSW Energy, Kalyan Jewellers India, KEI Industries, KPIT Technologies, Life Insurance Corporation of India, Macrotech Developers, Max Healthcare Institute, NCC, NHPC, FSN E-Commerce Ventures, Oil India, One 97 Communications, PB Fintech, Poonawalla Fincorp, Prestige Estates Projects, SJVN, Sona BLW Precision Forgings, Supreme Industries, Tata Elxsi, Tube Investments of India, Varun Beverages, Yes Bank, Union Bank of India, Zomato.
Ex/record bonus issue: Easy Trip Planners (1:1)
Moved into short-term ASM: NIIT, Tilaknagar Industries,
Moved out short-term ASM: Nalwa Sons Investments.
Who’s Meeting Whom
Indoco Remedies: To meet investors and analysts on Dec. 4.
Raymond: To meet investors and analysts on Dec. 3.
JSW Infra: To meet investors and analysts on Dec. 3.
Dollar Industries: To meet investors and analysts on Dec. 4.
Lupin: To meet investors and analysts on Dec. 3.
HDFC Life: To meet investors and analysts on Dec. 3.
F&O Cues
Nifty November futures down by 1.2% to 24,144 at a premium of 230 points.
Nifty November futures open interest up by 68%.
Nifty Options December 5 Expiry: Maximum call open interest at 26,000 and maximum put open interest at 23,500.
Securities in ban period: Nil
Money Market
The Indian rupee weakened by 4 paise to close at 84.49 against the US dollar on Thursday after it hit a fresh low of 84.5038 during the day. It closed at 84.4525 a dollar on Wednesday, according to data on Bloomberg.
This decline in the currency reflects the ongoing fluctuations in the foreign exchange market. The rupee opened weak by 5 paise at 84.39 against the US dollar on Wednesday morning as well.
