Stock Market Highlights: Nifty chart hints at consolidation ahead. What traders should do on Friday – Economic Times

While negating its higher high formation of the last four sessions, headline equity index Nifty formed a small negative candle on the daily time frame with a long upper shadow today on the weekly expiry day. Nifty charts hint at the emergence of minor weakness from the highs amidst a narrow-range movement.

The index is now placed at the lower end of the range of the last four sessions. “Now, it has to hold above 18,282 zones, for an up move towards 18,500 then 18,600 zones whereas supports are placed at 18,282 and 18,188 zones,” said Chandan Taparia of Motilal Oswal.

India VIX was down by 1.47 % from 15.10 to 14.87 levels. Volatility slightly rose during the day but overall comparative lower levels are supporting the declines to hold for bulls.

Option data suggests a broader trading range in between 18,000 to 18,800 zones while an immediate trading range in between 18,200 to 18,500 zones.

!1 New UpdateClick here for latest updates

TPG to sell Nykaa shares worth Rs 1,000 cr via block deal tomorrow

American private equity firm TPG Capital is likely to sell shares of Nykaa-owner FSN E-Commerce worth Rs 1,000 crore ($123 million) through a block deal on Friday, according to reports.

US stocks open lower after mixed economic data, hawkish Fed comments

The Dow Jones Industrial Average fell 224.6 points, or 0.67%, at the open to 33329.27. The S&P 500 fell 39.5 points, or 1.00%, to 3919.26 while the Nasdaq Composite dropped 175.0 points, or 1.56%, to 11008.672 at the opening bell.

Sebi asks IHH Healthcare to proceed with open offer for Fortis after HC permission

Malaysia’s IHH Healthcare on Thursday said Sebi has advised it to proceed with its stalled open offer to acquire 26.1 per cent market share in Fortis Healthcare only after obtaining order from the Delhi High Court. IHH Healthcare had acquired 31.17 per cent stake in Fortis by infusing fresh capital of Rs 4,000 crore in November 2018.The company is waiting for a go-ahead to proceed with its stalled open offer to acquire an additional 26.1 per cent stake in Fortis. The open offer, which was originally scheduled to commence on December 18, 2018 and close on January 1, 2019, entailing a total sum of Rs 3,300 crore, could not materialise due to a Supreme Court order.The apex court in September directed the Delhi High Court to consider appointing forensic auditors to analyse the transactions entered into by Fortis and other related transactions.

Gold falls Rs 161; silver tumbles Rs 1,111

Gold prices fell by Rs 161 to Rs 53,235 per 10 grams in the national capital on Thursday amid weak global trends, according to HDFC Securities. In the previous trade, the precious metal had settled at Rs 53,396 per 10 grams.Silver also tumbled by Rs 1,111 to Rs 61,958 per kg.

Gold falls Rs 161; silver tumbles Rs 1,111

LIC cuts stake in Bajaj Auto to 5.2% from 7.203% (Reuters)

LIC cuts stake in Bajaj Auto to 5.2% from 7.203% (Reuters)

“The Bank Nifty bulls continued to witness sideways movement on the day of the weekly expiry. The index to resume on the upside must trade decisively above the level of 42700, confirming the continuation of the uptrend towards 43,000-43,500 levels. The immediate support on the lower end is placed at 42400, and if it fails to sustain above, it can lead to a further decline towards 42,000 where the maximum put open interest is built up.”

– Kunal Shah, Senior Technical Analyst at LKP Securities

JUST IN: Markets regulator Sebi on Thursday said it has lined up three properties of Saradha Group of Companies for an auction on December 16, at a reserve price of Rs 5.21 crore. The move is part of Sebi’s efforts to recover money raised by the company from the public through illicit schemes.

MARKET VIEW: Ajit Mishra, VP – Technical Research, Religare Broking

Markets remained range bound and lost nearly half a percent amid mixed cues. The Nifty index traded dull in a narrow range for most of the session however decline in the last half an hour pushed the index in the red. It finally settled at 18,343.9; down by 0.4%. The decline was widespread wherein auto, media and IT lost over a percent each. The broader indices too remained under pressure and lost nearly half a percent each.

The recent market structure is pointing towards the possibility of some profit taking or consolidation ahead. However, we expect Nifty to hold the 17800-18100 zone. The prevailing underperformance on the broader front is already hurting sentiment and it might deteriorate further during the corrective phase. We thus reiterate our view to remain selective and focus on position sizing.

Global markets have recently surged on expectations that the Fed may scale back its aggressive rate hike schedule in reaction to easing U.S. inflation statistics. The euphoria was, however, dashed by better U.S. retail sales in October and aggressive remarks from Fed officials. The domestic market moved in tandem with the trend, with most sectors in red. As the domestic market got more expensive, FIIs were seen being cautious

– Vinod Nair, Head of Research at Geojit Financial Services

Nifty started lower and remained volatile throughout the day. On a closing basis, Nifty bulls were able to hold the crucial support of 18300. The RSI (14) on the daily chart has entered a bearish correction. Going forward, a fall below 18300 may trigger a correction towards 18100-18000. On the other hand, resistance is visible at 18450.

– Rupak De, Senior Technical Analyst at LKP Securities

Closing Bell: Sensex ends 230 points lower, Nifty settles below 18,400; Paytm tanks 11%; Union Bank jumps 7%

Closing Bell: Sensex ends 230 points lower, Nifty settles below 18,400; Paytm tanks 11%; Union Bank jumps 7%

EQUITAS SFB: DSP MF gets RBI nod to buy 9.99% stake in bank

Price as on 17 Nov, 2022 02:53 PM, Click on company names for their live prices.

HFCL gets €10.18 mn export order

Price as on 17 Nov, 2022 02:15 PM, Click on company names for their live prices.

Sebi is working on guidelines to regulate financial influencers

Europe stocks open mixed; London slips before budget

European stock markets opened mixed Thursday after subdued Asian trade, with London sliding before a crucial austerity budget. The British capital’s FTSE 100 index fell 0.2 percent to 7,338.89 points, as finance minister Jeremy Hunt readied a budget that will hike taxes and slash spending. In the eurozone, the Paris CAC 40 index rose 0.3 percent to 6,628.28 points and Frankfurt’s DAX won 0.9 percent to 14,360.48.

SoftBank sells 4.5% stake in Paytm for $200 million: Report

SoftBank Group Corp on Thursday sold a 4.5% stake in Indian digital payments giant Paytm through block deals for $200 million, sources told Reuters, leading to a sharp fall in the shares of the Indian company. The deal was executed at Rs 555.67, two people with direct knowledge of the matter said, the lower end of the planned price range of Rs 555 to Rs 601.45 that was listed in the transaction’s term sheet reviewed by Reuters.

SoftBank sells 4.5% stake in Paytm for $200 million: Report

STOCK IN NEWS: Aditya Birla Fashion

Sensex Heatmap: Top gainers & losers at this hour

Sensex Heatmap: Top gainers & losers at this hour

Fairfax weighing Bangalore Airport IPO at $3.7 billion: Report

Fairfax India Holdings Ltd. is considering an initial public offering for Bangalore International Airport Ltd. that could value the asset at about Rs 300 billion ($3.7 billion), according to people familiar with the matter.The Indian arm of Canadian investment group Fairfax Financial Holdings Ltd. is working with an adviser on the potential listing that could take place as soon as next year, the people said. Fairfax India holds a majority stake in the owner of Kempegowda International Airport, Bengaluru, located in the southern Indian city also known as Bangalore.The Mumbai offering may raise between Rs 30 billion and Rs 40 billion, they said, asking not to be identified as the information is private. The IPO may consist of about 75% primary shares and the rest in existing shares, one of the people said.

Fairfax weighing Bangalore Airport IPO at $3.7 billion: Report

Tata Motors bags order of 1000 buses from Haryana Roadways

Price as on 17 Nov, 2022 12:26 PM, Click on company names for their live prices.

Market LIVE Updates: Check out the top 5 gainers from the FMCG pack

Price as on 17 Nov, 2022 12:11 PM, Click on company names for their live prices.

Maruti Suzuki India on Thursday said it has partnered with Indian Institute of Technology, Bombay to drive innovation programmes for startups.

Price as on 17 Nov, 2022 11:46 AM, Click on company names for their live prices.

Kirloskar Brothers Ltd has called for an extraordinary general meeting of its shareholders on December 8, 2022 to consider and approve forensic audit of the affairs of the company by an external agency, according to a regulatory filing.

Price as on 17 Nov, 2022 11:38 AM, Click on company names for their live prices.

It’s all about fundamentals!

As the earnings season comes to an end, here are the key insider trades that have taken place in the last two days

Crypto Price Today: Bitcoin slides to near $16,000; Uniswap, Polygon, Polkadot shed up to 6%

Market LIVE Updates: These stocks tumble to 52-week lows in trade today

Market LIVE Updates: These stocks tumble to 52-week lows in trade today

Rupee falls as Asian currencies decline on Fed rate outlook

The Indian rupee weakened on Thursday, alongside Asian emerging market currencies, as strong U.S. retail sales data seemed to favour the Federal Reserve’s view of not pausing its rate increases any time soon.

The rupee fell 0.29% to 81.53 per dollar to trade near the level it was last Thursday, softer-than-expected U.S. inflation data sparked a slide in the greenback.

The rupee has had a turbulent few days due to cash dollar demand by corporates and importer hedging.

Shares of Tata Motors dropped nearly 3% to Rs 419.7 in Thursday’s intraday trade on BSE a day after Thierry Bolloré, the CEO of Jaguar Land Rover (JLR), tendered his resignation due to personal reasons.

Price as on 17 Nov, 2022 10:53 AM, Click on company names for their live prices.

The lock-in for a few IPOs will expire next week. Take a look!

Sensex erases losses, trades flat

Sensex erases losses, trades flat

Directional moves have gone missing in the last few days. Amidst this, though bullish patterns are intact,it might require dips to be more substantial to invite larger upmoves. Towards this end, 18280 or even 18000 will be in the radar. Alternatively, direct rise above 18460/80 could revive hopes of 18800, though18530 and 18604 will remain initial challenges.

– Anand James – Chief Market Strategist at Geojit Financial Services

Paytm, Nykaa tank up to 10% on block deals

Price as on 17 Nov, 2022 09:45 AM, Click on company names for their live prices.

Blackstone Inc said on Thursday it will buy a 52% stake in Indian technology and analytics services company R Systems International Ltd for $359 million. Blackstone will launch a conditional delisting offer at a price of 246 rupees per share, it said in a statement.

Price as on 17 Nov, 2022 09:25 AM, Click on company names for their live prices.

The fact that Sensex and Nifty are at record closing highs tells us that the Buy on Dips strategy has worked well in this market. Therefore, this strategy can be expected to work, going forward, too. High quality stocks in banking, IT, telecom and capital goods form the backbone of this large-cap driven rally. Dips in this segment are likely to get bought. India is the only large market that crossed previous record highs. This will stand the market in good stead. Even though the mother market US has turned a bit weak, the sustained fall in US bond yields is a positive for emerging markets like India. The mid- and small-cap indices are likely to remain weak.

– Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

Rail Vikas Nigam, PNB among most active stocks on NSE

Price as on 17 Nov, 2022 09:19 AM, Click on company names for their live prices.

Opening Bell: Sensex sheds 150 points, Nifty below 18,400; IRFC jumps 4%, Tata Motors sheds 2%

Opening Bell: Sensex sheds 150 points, Nifty below 18,400; IRFC jumps 4%, Tata Motors sheds 2%

Pre-open session: Sensex dips over 100 points; Nifty below 18,320

Asian stocks mixed, dollar finds footing as traders assess Fed outlook

Asian stocks were mixed on Thursday while the U.S. dollar stabilized and Treasury yields remained depressed as investors tried to assess the outlook for Federal Reserve policy following stronger-than-expected retail sales data.

Oil falls as geopolitical tensions ease

Oil prices fell for a second day in early Asian trade on Thursday as concerns over geopolitical tensions eased and rising numbers of COVID-19 cases in China added to demand worries in the world’s largest crude importer.

SGX Nifty signals a negative start

Nifty futures on the Singapore Exchange traded 39.5 points, or 0.21 per cent, lower at 18,440.50, signaling that Dalal Street was headed for a negative start on Thursday.

Tech View: Nifty forms small bodied bullish candle

Headline equity index Nifty today formed a small bodied bullish candle on the daily frame with a longer lower shadow, indicating support-based buying.

Tokyo’s Nikkei index opens lower after US losses

Tokyo’s key Nikkei index opened lower on Thursday after Wall Street shares slumped, as a major US retailer warned of a softer holiday season. The benchmark Nikkei 225 index dipped 0.20 percent, or 56.99 points, to 27,971.31 at the open, but the broader Topix index edged up 0.04 percent, or 0.78 points, to 1,964.07.

Wall Street ends down after Target outlook, Micron supply cut

Wall Street’s main indexes ended lower on Wednesday as a grim outlook from Target spurred fresh concerns about retailers heading into the crucial holiday season, while semiconductor shares slid after Micron’s supply cut.

Rupee falls 35 paise to close at 81.26 against US dollar

The rupee depreciated by 35 paise to close at 81.26 against the US dollar on Wednesday on disappointing trade data and foreign fund outflows.

Sensex, Nifty on Wednesday

Amid mixed global cues, the BSE Sensex closed at a record high on Wednesday, rising 108 points at 61,981, while its broader peer, Nifty50, ended above the 18,400 mark, driven by gains in Kotak Mahindra, HDFC twins, Infosys.

Good morning, dear reader! Here’s something to kickstart your trading day

Good morning, dear reader! Here's something to kickstart your trading day

Leave a Reply

Your email address will not be published. Required fields are marked *