As reflected by the fear gauge index India VIX, volatility has been cooling off for the last nine weeks and supporting the bulls to hold at higher zones. The momentum indicator has reached the falling trendline on the daily timeframe.
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Merger with HDFC to take 8-10 months more: HDFC Bank
HDFC Bank expects to amalgamate its home loan major parent HDFC into itself by September next year, a top official said on Friday. Both HDFC and HDFC Bank held general meetings on Friday to seek shareholder approvals for what is billed as the largest merger in Indian corporate history at over USD 40 billion.At the time of announcing the merger on April 4 this year, the entities had said the merger will take 12-18 months.
Indian Energy Exchange board approves Rs 98 crore share buyback plan
The Indian Energy Exchange (IEX) on Friday said its board has approved a proposal to buyback shares worth Rs 98 crore. A decision in this regard was taken at its board meeting held on Friday, according to a regulatory filing.”The board has approved the buyback of fully paid up equity shares having a face value of Re 1 each of the company at a price not exceeding Rs 200 per equity share and not exceeding Rs 98 crore payable in cash via open market route,” IEX said.
SEBI introduces framework to address technical glitches
#NewsAlert | SEBI: Introduces framework to address technical glitches(From Agencies) #SEBI #MarketsWithETNOW… https://t.co/2ExlkSgWKR
— ET NOW (@ETNOWlive) 1669377952000
“Bulls dominated Dalal Street, with the indices parked near record highs, supported by favourable triggers like FII buying, a drop in crude prices, a falling dollar index, and declining bond yields. The FOMC meeting minutes hinted that the rate hike cycle may be slowing down. Crude oil prices dropped over talks of a possible price cap on Russian oil and a rise in US product stockpiles. However, the tight COVID lockdown in China has negatively impacted the global growth forecast. Going ahead, the lack of strong fundamental triggers will limit the upside, keeping the market volatile in the short term. The Fed Chair’s speech, which is scheduled for next week, and the release of other significant macroeconomic data will influence the market’s future trajectory.”
– Vinod Nair, Head of Research at Geojit Financial services
Forex kitty grows for 2nd consecutive week; rises $2.54 bn to $547.25 bn
In the second consecutive week of an increase in the kitty, India’s forex reserves have grown by USD 2.537 billion to USD 547.252 billion for the week ended November 18, the RBI said on Friday. In the previous reporting week, the overall kitty had swelled by USD 14.721 billion in the highest weekly rise since August 2021 to USD 544.715 billion.It can be noted that in October 2021, the country’s forex kitty had reached an all-time high of USD 645 billion. The reserves have been declining as the central bank deploys the kitty to defend the rupee amid pressures caused by global developments.
The Bank Nifty index after a spectacular rally witnessed some profit booking on the last day of the week. The index undertone remains bullish and one should keep a buy-on-dip approach with 42,800-42,500 as a strong support zone. The upside resistance is seen at 43,500 and once breached will see a sharp short covering towards 44,000-44,300 levels.
– Kunal Shah, Senior Technical Analyst at LKP Securities
The index has posted a muted close after a sideward trading session. On the daily chart, the Nifty has reached the rising trend line found by joining the preceding peaks. The momentum indicator has reached the falling trendline on the daily timeframe. Based on the price chart and momentum indicator setup we can infer that the index is on the verge of strong directional movement over the short term. On the lower end, a fall below 18,450 may trigger a correction towards 18,100-18,000; whereas, on the higher end, a rise above 18,605 may induce a decent rally in the market.
– Rupak De, Senior Technical Analyst at LKP Securities
After clocking record highs in the previous session, domestic indices traded with volatility amidst mixed global cues and rising crude prices. While FIIs turning net buyers is a positive, the lack of fundamental triggers will limit the upside, keeping the market volatile in the short term. Rising COVID restrictions in China continue to negatively impact the global growth forecast.
– Vinod Nair, Head of Research at Geojit Financial Services
Closing Bell: Sensex, Nifty end flat after choppy session; BHEL jumps 10%, PNB 5%
ADANI ENTERPRISES FPO DETAILS
#StocksToWatch | Adani Enterprises approves fund raise via further public offering of up to Rs 20,000 cr, FPO via f… https://t.co/MaUZKMtSVe
— ET NOW (@ETNOWlive) 1669368126000
ADANI ENTERPRISES TO RAISE RS 20,000 CR VIA FPO
Price as on 25 Nov, 2022 02:46 PM, Click on company names for their live prices.
JLR to cut production in UK until March: Agencies
Price as on 25 Nov, 2022 02:43 PM, Click on company names for their live prices.
These stocks are the top gainers in the market
Price as on 25 Nov, 2022 02:42 PM, Click on company names for their live prices.
Sebi amends norms; brings in buying, selling of mutual funds under insider trading rules
Capital markets regulator Sebi has amended norms to bring buying and selling of mutual fund units under the ambit of insider trading rules. At present, insider trading rules are applicable to dealing in securities of listed companies or those proposed to be listed, when in possession of Unpublished Price Sensitive Information (UPSI). The units of mutual funds are specifically excluded from the definition of securities under the rules. Sebi’s latest decision follows the Franklin Templeton episode, in which the fund house’s few executives were accused of redeeming their holdings in the schemes ahead of the six debt schemes shutting for redemption.
Shares of iron & steel products company Hariom Pipe Industries (HPIL) rallied nearly 12% to hit a 52-week high of Rs 319.40 amid heavy volumes after the company completed the setup of a 15 ton electric melting furnace.
Price as on 25 Nov, 2022 02:14 PM, Click on company names for their live prices.
Shares of auto ancillary company Tube Investment of India (TII) rallied nearly 5% to Rs 2,725 in Friday’s intraday trade after the company informed that it has signed a share subscription agreement and a shareholder agreement with X2Fuels to acquire a 50% stake in the company.
Price as on 25 Nov, 2022 02:11 PM, Click on company names for their live prices.
TVS only loser in the auto pack
Price as on 25 Nov, 2022 01:07 PM, Click on company names for their live prices.
KIOCL rallies 8% as its Pellet Plant Unit at Mangalore restarted with effect from Friday.
Price as on 25 Nov, 2022 12:46 PM, Click on company names for their live prices.
Nykaa Pink Friday sale delivers 75% growth, recording over 400 orders every minute on Day 1
Price as on 25 Nov, 2022 12:23 PM, Click on company names for their live prices.
Rationalisation in long-term capital gains tax structure on the anvil
Currently, shares held for more than one year attract a 10 per cent tax on long-term capital gains.
Gains arising from sale of immovable property and unlisted shares held for more than 2 years and debt instruments and jewellery held for over 3 years attract 20 per cent long term capital gains tax.
Hi-Tech Pipes announced fundraising via the issuance of warrants and equity shares on a preferential basis on Thursday. The company board has approved 57 lakh full convertible equity warrants at an issue price of Rs 692 per warrant. Each of these warrants can be converted into one equity share if the owner exercises the right for the same.
Price as on 25 Nov, 2022 12:17 PM, Click on company names for their live prices.
Tokyo stocks end lower
Tokyo stocks drifted lower on Friday as investors awaited fresh market-moving news after a Wall Street holiday for Thanksgiving. The benchmark Nikkei 225 index dropped 0.35 percent, or 100.06 points, to 28,283.03, while the broader Topix index barely moved, losing 0.04 percent, or 0.80 points, to 2,018.00.
Castrol India to buy 7.09% stake in Ki Mobility in a deal worth Rs 488 crore
Price as on 25 Nov, 2022 11:46 AM, Click on company names for their live prices.
Tyre companies will be big beneficiaries of fall in rubber prices: Sandip Sabharwal
Global Rubber prices have corrected nearly 25% over the last few months Crude derivatives like Nylon Tyre Cord, Car… https://t.co/guDC01cij7
— sandip sabharwal (@sandipsabharwal) 1669351727000
Morganite Crucible (India) says factory shall be closed partially from Nov 28 due to scheduled maintenance and other activity
Price as on 25 Nov, 2022 11:21 AM, Click on company names for their live prices.
HDFC twins in focus today
#StocksToWatch | As HDFC shareholders meet today to discuss on the merger between HDFC and HDFC Bank,… https://t.co/sutIR6wV66
— ET NOW (@ETNOWlive) 1669353785000
These metal stocks rise up to 7% in trade
Price as on 25 Nov, 2022 10:55 AM, Click on company names for their live prices.
Bitcoin holds $16.5k; Polygon, Cardano & Solana tank up to 5%
NCLT Chennai bench okays merger of 3 arms with company
Price as on 25 Nov, 2022 10:25 AM, Click on company names for their live prices.
Compuage Infocom enters into distributor agreement with Super Micro Computer
Price as on 25 Nov, 2022 10:10 AM, Click on company names for their live prices.
Punjab National Bank has received approval of DIPAM, Ministry of Finance, for divestment of stake in UTI Asset Management Company in single or multiple tranches. It holds 15.22 per cent stake in UTI AMC.
Price as on 25 Nov, 2022 10:07 AM, Click on company names for their live prices.
Engineers India gets order from Mangalore Refinery & Petrochemicals
Price as on 25 Nov, 2022 10:07 AM, Click on company names for their live prices.
Rollovers for Nifty/Bank-Nifty stood at 82% (~1.2cr OI)/88% (~32lakh OI). FIIs’ remained net buyers on index futures, however they trimmed their stocks’ futures positions in the November series. Nifty is likely to complete its pending up moves and consolidate at upper band provided support at 18200 is decisively held. Media sector witnessed higher rollover, short build up in ZEEL and long unwinding in Suntv is likely to attract under-performance and limit upside potential. In the cement space, JK cement and Dalmia cement rallied ~10+% with rollover of more than 90%; throwback in these stocks is a buying opportunity. Textile stocks witnessed a short-build-up.
– Yes Securities
RBI MPC letter said to cite global factors for inflation
#NewsAlert | RBI MPC letter said to cite global factors for inflation (From Agencies) #Inflation #RBIMPC @RBI https://t.co/Lr8dF2wJfF
— ET NOW (@ETNOWlive) 1669347884000
PNB, Yes Bank, RVNL among most active stocks on NSE
Price as on 25 Nov, 2022 09:43 AM, Click on company names for their live prices.
USFDA has issued 8 observations for Lupin’s drug product facility and API facility at Mandideep. The US drug regulator has inspected company’s Mandideep unit-1 facility during November 14-23, 2022.
Price as on 25 Nov, 2022 09:42 AM, Click on company names for their live prices.
BLOCK DEAL IN HIND MORORS: 52.7 lakh shares change hands
Price as on 25 Nov, 2022 09:21 AM, Click on company names for their live prices.
STOCK IN FOCUS: ADANI ENTERPRISES
#StocksToWatch | Adani Enterprises board will meet today over a possible follow-on public offering to finance the g… https://t.co/Lep4kj1oda
— ET NOW (@ETNOWlive) 1669348031000
Opening Bell: Sensex flat, Nifty at 18,500; PB Fintech gains 3%, Easy Trip Planners falls 2%
Pre-open session: Sensex rises over 100 points; Nifty above 18,560
SGX Nifty signals a negative start
Nifty futures on the Singapore Exchange traded 40.5 points, or 0.22 per cent, lower at 18,627.50, signaling that Dalal Street was headed for a negative start on Friday.
Tech View: Nifty forms long bull candle on F&O expiry day
Headline equity index Nifty on Thursday formed a healthy bullish candle on the daily chart, which indicates an attempt at a sharp upside breakout of the crucial resistance around 18,400 levels.
Tokyo shares slide after US holiday
Tokyo stocks drifted lower Friday as investors awaited fresh news after a US market holiday for Thanksgiving. The benchmark Nikkei 225 index opened nearly flat then inched down 0.29 percent, or 81.60 points, to 28,301.49 in early trade, while the broader Topix index slipped 0.24 percent, or 4.87 points, at 2,013.93.
Oil inches up amid wrangling over Russian oil price cap
Oil rose in early trade on Friday, trimming some of the week’s losses which have been driven by worries about Chinese demand and expectations a high price cap planned by the Group of Seven (G7) nations on Russian oil will keep supply flowing. Brent crude futures inched up 13 cents, or 0.2%, to trade at $85.47 a barrel at 0121 GMT.
Rupee gains 23 paise to close at 81.70 against US dollar on forex inflows
The rupee appreciated by 23 paise to close at 81.70 against the US dollar on Thursday as a weak greenback in the overseas market and a rally in domestic equities boosted investor sentiment.
Sensex, Nifty on Thursday
The 30-pack index, which rallied nearly 900 points intraday, settled at its new closing high of 62,272.68, up 762.10 points or 1.24%.